New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-20
RAILWAY INTELLIGENCE.

POOL AGREEMEN is ~ BE EAECO led.
AN IMPORTANT MONEY SETTLEMENT DECIDED UPON
NEW LINES ENTER THE CHICAGO POOL
The conference between the executive COM
nitiec OF the trunk lines and the committee OF
their Chicago connections held yesterday at Commits
soner Finks Office resulted in important action which
lesseDs the pr Respect OF general railroad war. There
was full attendance, the New YORK Central being rep
resented by President James H. Ruter and Vce-Presi
dent Hayden Lake Shore by President John Newell
the Michigan Central by President H. b. Lrdyard the
PENNSYLVANIA Railroad by General Manager Frank
Thomson tue Pennsylvania Company by Vice-Presi-
dent j. n. Mccullough and General Freight
Agent william Stewart, the Eric by Trai-
tic Manager r. c. Villas, the Baltimore
and Ohio by Vice President Robert Garrett and General
-'reigit Agent F. Harrott and the Grand Trunk OF
.nada by Traffic Manager L. J. Sergeant and General
reight Agent John PorJeOus- W. X Vanderbilt repre-
ented the Nickel Plate road and President Scott OF
the Chicago st. LOUIS and Pittsburg uhe reorganHed
Pau Handle route) present Mr. Villas OF the Erie.
acted for the Chicago and Atlantic
An important part of the proceedings was the recep-
ton OF formal announce that the Nickel Plate
aud the Chicago Atlantic would enter the easbound
Chicago pool The former road has already consented to
the pooling agreement on Chicago livestock business.
The Chicago and Atlantic is the new independent CHI
cago line OF the Enc. A letter from President Jewett
of the Eric, has assured Mr.. Fink OF the
agreement of the road TO accept
upon 1t recognized that the percentages in that pool
must redstrbuted account OF the opening Of the
new nes settlement OF that point expected 70
be reached except after arbitration The claims OF the
Chicago lines to share In the business Will be for
maly presented AFTER the proposed new compact Affect
Ing the Chicago traffic is framed and signed 1t is not
that any trouble will be by the reorganzed
Pan Handle hne except livestock business. At the
division that business the percentages due 10 the
pan Handle and the PIttsburg Fort Wayne Chicago
ere
Company, which operates the TWO INES. Inc dead,
freIgI division was always made between the two sep
roads The Pan Handle mas put III separate
demand for 10 Per cent i t tne es.0Ge
its shipments nave been urned over TO the Erie TO
greater extent than to the Pennsylyanis Railroad
while the present is entirely the interest
tue last named company Tlis demand Will probably
60 TO arbitration.
The must important work done, however, was an
agreement 10 continue tue settlement OF all dlI-
allotted percentages IN the actual cast
bound business hauled III money payments based on the
gross TeV1he aSni HER oepcenfaIe se'tlenent
from April l, 1888. the date OF the last money settle
missioner was altHorzed 10 draw accordingly
the lines which have been ahead OF their percentages
one-haf Of the grOs: revenue for EXPENSES Of Of
| been exceeding their percentages had margin
of profits covered by the extent to which they could re-
duce actual operating expenses below the allowance
made IN the settlement: sipee ,sst reornafy i me
| been diverted TO the Grand Trunk and the Ere lDe
Pennsy roac also suffered The cause mas been
| the cutting OF schedule rates.
1t IS UNDERSTOOD that the representatives of the Van
derDllt the Pennsylvsns systems went into tine
| meeting yesterday prepared 10 push cases
| OF cutting against their rivals. The sub
iect was NOT referred to- however. The Grand Trunk
and the Ere were confronted the question whether
the agreement made Ia last May Tor money settlements
based on gross revenue should carried out the pool
utterly disregarded On that basis adj
vantage be gained by ANY road from rate-cutlng
as unQer pool must the gross revenue
business carried by excess OF its percentage,
| ITSELF bearing the expense Oh naming tne
! excess. Every ton OF freight that Ia car
Rcd by n road entitled 70 Il, Is therefore hauled AT
dead lOrs The know edge that refusal settle baau
ces the basis May compact would be regarded
| BY the New-lOrk Central and the Pennsylvania as
equivalent disruption of the pool, II Is beileved by
wc.-uformed railroad men, led 10 the settlement as
scented 10 Yesterday. Under this settlement the surplus
OF business carried by the Grand Trunk out
OF CnicagO will be turned III money mainly To the
Lake snorc Michigan Central, which have been
far behind their pOoi percentages The sete-
ment an ylies alike to IregaJ aud 1.-Two STOCK
Tue conference Will he continued to-day.