The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-03-17

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agreement have been periested?'
"Y Yes, yes; there is no longer any rail.
road war. 1t has ended. Il was about
time that a stop was put to It. For nearly
a year the railroads we're engaged in Bit.
ter conflict, and long ago It was evident
that the companies themselves could not
settle all the questions involved in the
struggle. 1t became absolutely indispensi-
6le that the business men Of the country
should act aS arbitrators between the rail-
roads, whose officers were drifting farther
apart. That has been done, and from the
business men, who are fully alive to the
magnitude OF the railroad questions, and
to the influences which will flow from the
decision Of them, we may expect the full.
est discussion and the most correct judg.
ment."
As l said just now, it was quite time the
railroad war was brought to close. The
war has taught US oil good lesson. At
any rate, | have learned lessons :irom 1t
that shall never forget. have no doubt
the officers Of all the railroads are wiser
than they were year ago. The war has
cost q great deal OF money, and the only
practical advantage that has been gained
is the knowledge as to how cheapiy the
work Of transportation can be done. That
is matter that has been clearly proved BY
the contest, and think most railroad men
have been surprised at the result; but
tell you It was due to stockholders and to
everybody that the war should be stopped.
We all recognize the insanity Of prolonging
it.
"Will peace bo lasting9"
A LASTING PEACE.
Answer-oh, undoubtedly it will be
maintained for several years. The agree
ment is made for five years and il is hardly
probable that anything will happen to
break it
"The question Of differential rates has
not been decided, and the advisory COM
mission has no power" the reporter sug.
gested.
"That is very true" Mr.. Vanderbilt re.
piled, "but anticipate decision that will
be so cminently just that the railroads will
accept it without word OF dissent. You
see this matter OF difIerential rates has be-
come a national question Of vast import
ance. 1t has passed out OF the hands OF
railroads, partly because Of its very import
ance, but mainly because the railroad men
showed themselves incompetent to handle
it Their views were narrow Sud their
opinions were worked by personal feelings
and official interest, because they were un-
able TO determine the question. sug-
gested some months ago that it should be
left 10 arbitration and that the business
men OF the country should give it
thorough examination and discussion"
From that suggestion, believe has
sprung the Advisory Commission which is
now considering the subject. Certainly
the men who constitute that Commission
are men OF ability, oil firmness and OF prac-
tical wisdom. No better men probably
could have been selected, and the result Of
their deliberations will be accepted by the
world as the most Just conclusion that
could be reached. l presume that the Off
GERS OF the railroad companies will accept
it as the basis OF settlement. Certainly l
will be willing to do SO il it will give my
roads a chance to live. We have been
fighting New York's battles for long time,
and it has cost us millions OF money. We
cannot fight the battle unaided and alone.
The business men OF New York have a
deep interest in the contest and should do
their utmost 10 protect the commercial
supremacy Of the city.
THE New York Central Railway is prin-
cipally a New York institution and de-
serves the support Of It's business men, but
for all that We have 10 consider the inter
est Of other places on our lines, as a mat
ter Of business. A man at Rochester is OF
Just as much consequence to the road as u
man at Syracuse, and one at Albany as an.
other at Buffalo. We want every place on
the line Of our road to prosper, for in its
success lies the prosperity Of tho people
themselves"
"These anti.monopolists want to cut
down our profits, | suppose, but II they
accomplished their purpose, would they
sell groceries one whit cheaper? Not bit
Of It. They will take everything they can
get and then ask for more. They do not
seem to know that the transportation Of
freight Is done at a less profit than any
other business in the country.
Five years ago we should have said il
was impossible TO carry freight at rates the
are now getting. Think one
moment Of the great reduction that has
been made in that time. Perhaps in five
years more we may look back to the pre-.
sent rates and think these were high. II
may ho we can tell what the result Of the
growth oil the country and OF the constant
increase Of business may be, but let the
reduction come from fair and open compe.
tition. The railroads do not want to charge
exorbitant rates. They cannot afford to do
80. They do want rates that will give
fair remuneration for work and the invest
ment. When cannot get that / tell you
shall sell out and go into something else.
It Is matter oil business, and that is all
there is about it"
"Yes thereis the labor question Of course.
do not know what ia to be done about II;
we are paying the same price for labor that
We did when the profits were much larger
than they are now, but II We attempt to re-
1uce the wages, there goes up again howl
from the anti.monopolists, who cry that we
are taking bread from the mouths OF our
workmen: lido not know what we can do
about it"
WALL STREET BEARS.
GLOW do the market prices Of stocks
compare, in your opinion, with the real
value Of the railroad properties"
Stocks OF good roads are too low. They
have been depressed below their real val
ue. Take Lake Shore, for example. Il
earned its dividends last year, as l said
few minutes ago, but there are men in
Wall street who think they know more
about 1t than ] do, and they will tell you,
1 suppose, that 1t Is not earning much OF
anything. Under good management the
Lake Shore road cannot ever fail to earn
more than six per cent. ] have every rea-
SON 10 think that It will earn its usual
dividend this year, and it certainly will II