New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-03-18
Mr.. JEWETT ON RAILROADS.
THE ERIE NOT A BANKRUPT COMPANY.

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Thursday William II. Vanderbilt asserted that the
New-York Central Railroad was obliged to accept
the rates made by bankrupt road on both sides,
that they made the rates; and that the Cen-
tral could get no better rates, although 1T
paid regular dividends and the other companies did
not pay any. The roads which Mr.. Vanderbilt
named were the Grand Trunk on one side. and tho
Erie on the other. 1t understood that he re-
ferred to these roads bankrupt roads only in the
sense that they not dIvidend-paying compa-
| MES
Hugh ]. Jewett, president Of the New
York, Lake Erie and Western Railroad, was
asked yesterday if he had read The TRIBUSE's in
! teryew with Mr. Vanderbilt and If he had any,
thing to say in reply 10 it, Mr. Jewett replied that
certain parts of the interview manifested better
feeling the part of Mr. Vanderbilt, and that so
| far he concurred fully with his opinions He said
that If there any part Of the interview 10 which
it desired TO call his attention, he would answer
any inquiries that might be made.
"Who first suggested the appointment of an Adj
visory Commission ?" the reporter asked.
at was suggested at a very early period, after the
difficulties between the companies began" Mr.
Jewett replied. II was made at a conference held
IN my Office early in September, and | think by Mr.
CaSsatt, of the Pennsylvania Railroad Company.
There were present at the conference representa-
vana, and myself as representative Of the New
York, Lake Erie and Western. concurreI in tho
suggestion. | 10 not rccOect that anyone opposed
it, the representative of the New-York Central did
not feel authorized to approve or dsapprOve the
suggestion"
"What led to the final agreement for the appoint
ment or such a commssionp
The fact that the contest had become very dam
aging, and the conviction that some Of the COM
panie6 had far appealed to the public to sustain
them IN their position that direct concession
could be made by one to the other and hence tho
intervention of a third party thought wise
regard the commission as a good one.'
"Do yOu believe that its award will be adopted
by the different companies ["
Il hope 50. have no doubt the commission will
be governed in forming its conclusions by just re-
gard for the various interests involved, and that no
of the companies Will feel at liberty to disregard
that award. Mr.. Vanderbilt said that he should
be willing TO accept it if it would give his roads
chance to live. i do not know, of course, what he
expects; but some time ago difference Of 1l2 cents
could have been agreed upon If the New-York roads
had been united in the matter. The Pennsylvania
would have consented to that compromise. and it
presented some very strong arguments why the
rates to Philadelphia and Baltimore should be alike.
Mr.. Vanderbilt refused to listen to any compromise,
and the effort to harmonize the differences cOnse-
quently failed"
What have you TO say to Mr. Nanderbts re-
mark that the Erie is bankrupt"
u regard that statement by Mr.. Vanderbilt as
unbccOung and discreditable to him and to the
high position which lie occupies. The whole state
ment is a mere fabrication The Erie l. not bank
rupt does tmlke the rates Of transportation for
the New-York Central. as claimed by Mr. Vanderbilt.
The evidence Of the last few months demOnst strates
n, hoe In go1a anil
now leads. in carrying freight at runouslv low
rates / do not mean to intimate that the New
York Central is not paying strict regard 10 tho
arrangements between the companies for the adj
vance and maintenance of rates. but that their ten
cent contracts were numerous and extensive that
they are still carrying large traffic at those rates.
regretted to notice that statement on tho part Of
Mr.. Vanderbilt. | regretted TO find him placing
himself upon the same platform and in the same
business those persons whom he chooses desig-
nate as bears in Wall Street when he uses the
language 1T is their business deprecate the valIe
of the property Of other persons but it's mean and
dirty business, and that's all there is about it,
There was 40 necessity for Mr. Vanderbilts attempt
ing deprcciate the value of the property, and
rrgret exceedingly his attempt to do So"
" In recent interview you spoke of pursuing
under the law those who have been circulating
ISLANDERS and publishing libcls about your company
Have you dscOve red any of the persons 10 whom
you eferred ?" the reporter inquired
1t is timc," said Mr. Jewett, to teach this class
of men that they cannot with impunity attack
values In which the public Including the widows
an d orphans described by Mr.. Vanderbilt s
largely in teresed. and cause their depreciation by
slanderous utterances and libellous publications.
When discovered they ought to be visited by the
sevcrest penalties of the law. Mr.. Vanderbilt has
certainly furnished the evidence as 10 who oc-
cupics that position IL will lie for the Board Of
Directors of the Erie Company to determine what
steps 1t Will take 10 give the persons implicated an
opportunity Of juStifying their conduct In thc
matter"
do you think that the prospects of the railroads
of the country are favorable 2"
II do and believe that the railroads will par
OF the country unless the considerations which
led to the war of the last few months should again
prevail. If the represent atives of company keep
insisting that Others are bankrupt and undertake
by contest of rates 10 prove the truthulness of
their statements there IS no telling what the end
may be. But take II that Mr. Vanderbilt is sim
cere when he says: The war has taught us all q
good lesson. AT any rate have learned lessons
from It that shall never forget. / have no doubt
the officers of all the railroads wiser than they
were year ago. do not believe that any good re-
suits have proceeded from the war"
DO you think that there has been any practical
advantage gained in the economy with which the
work of transportation can be carried ON y
Very little; some of our railroads. have shown
large reduction OF expense; but when tho means
sorted TO for bringig about this reduction fully
discovered they VIII be found 10 consist Of with
holding from tho roadway, its superstructure and
equipment. the necessary materials and repairs for
their future safety, or future economical manage
ment"
What do YOU think Of Railroad Commission in
this State ~
elf / beloved that Board of Commissioners
could be formed regardless OF political organiza-
tions dictaton, consisting of careful and impair
tial men with such prescribed duties as would pre-
vent their interfering arbitrarily with the manage
inent OF the railroads l should heartily approve IL.
There ought to bc difference between the rail-
roads the people To the proper manag cement
fha no Iuta af fha IL fh,.,