Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1883-06-21
Kings With Knives.
THE GREAT RAILROAD MoGULs GOING TO
WAR AGAIN.


New YORK, June 5.-Ihe speculative
atmosphere of Wall street was full of
rumors to-day of an impending railroad
war. at first these rumors were cred
tied to the bears, but subsequent devel-
opments showed that there was consid.
cradle truth in them. Pool Commits
sioner Albert Fink mas been studying
the situation while seated in an invalid's
chair. The opening of the Delaware,
Lackawanna and Western road to Buff
falo was the signal gun of
A RATE CUTTING WAR
that promises to be more fierce than all
the wars of the past. The old roads
made light of the competition and said
that Lackawanna was only seeking ad-
mission INTO the pool, and cutting for
business IN order to show large volume
of traffic. The conservative element IN
the street looked upon the LackaWanna
slaughter with much more anxiety and
did not hesitate to say that there could
be but one result, namely, trunk-line
war all around. The cutting by Lack
awanna has had It's effect, and the re-
port comes well founded that the Grand
Trunk road have demanded change
In the pool agreement from Vanderbilt,
that the Michigan Central have com
menCed selling tickets from Chicago to
Trunk announced that hereafter they
are out of all promises to prevent the
payment of commission on tickets.
The Michigan Southern have removed
their tra ms from the Great Western to
the Canada Southern and have thrown
down the gloves. The Nickel Plate are
bidding for business without any regard
for pools, and the Erie with the Penn
sylvania Central and Baltimore and
Ohio are stirring themselves to keep up
with the funeral.
The commissioner still maintains
that everything is lovely and that no
rate. cutting Is going on to his knoWl-
edge. Mr.. Vanderbilt when inter
viewed on the subject said: "Of course
the Grand Trunk are cutting rates;
they couldn't get any business unless
they did. | don't want to buY West
shore. | am not IN the market and
am not buying or selling stocks"
The best informed credit Gould with
being bear on everything bat West
ern UniOn, and ais large interest in
LackaWanna has singled him out as
the destroyer of trunk line pools, for
Lackawanna was the first 10 declare
open war.
There is no doubt that We are on
the brink of very
SAVAGE WAR OF RATES."
said 9 prominent operator to report
er. This cutting has been going on
secretly for several months by the
trunk lines in the pool. If one road
cuts they must all follow or 60 on the
shelf, fer business follows where it can
90 the cheapest.
''The item of a few cents in freights
to and from the west means thousands
Of dollars to the farmer and the mer-
chant. For instance, the WI eat in
store st Chicago in 1881 was 90, 200, 900
OF bushels; the change of tariff of cents
per bushel makes q difference of $3.50
900 to the shipper. No road in direct
competition can stand even cut of
: cents. 1t is this fact that enables one
road like LackaWanna or West Shore to
starVe all the others out unless they
come down. This rate war cannot be
patched up, for | know one road that
wont have any patching.
IT IS THE GRAND TRUNK.
1t originated the former war and is
II for il again. Before long it will be
selling passenger tickets to Chicago for
s.. All the other roads will follow suit
and then you will see fun in the stock
market. From the present indications
it looks as if this War was already
opened IN the West The members of
the trunk line pool will not lose their
forfeit money if the fight becomes gen
eral, for the commissioner will be
forced to declare all agreements eff and
let the companies fight it out like the
Kilkenny cats"
Another prominent speculator said
did you ever see q summer 60 by
without q rate war? 1t is the usual
pastime of the railroads during the hot
moNths when trade is slack and no
business of consequence is being done. |
1t diverts public attention from the
ENORMOUS PROFITS In THE RAILROAD
BUSINESS,
and gives the general impression that
railroads have hard time as well as |
the rest of the world. | tell you this |
rate-war business is what the circus |
men call a fake gotten up to create |
sn effect and delude the pubic from
facts. ID doesn't hurt the roads, for it |
doesn't last any length of time When
the crop comes in you will see them ali
get their heads together, wink one eye
and put everything back to It's old
basis and high rates. 1t is one of the
tricks Of tue RAILROAD trade, and
any man with half an eye can see
through it."
At the Offices of the railroad COM
panies nothing could be learned relative
to the present or prospective war of
rates. The official all deny that any
cl1ftino Of M nnrtonnn u -, ,.-oe..onr