New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-03-15
LOWER RATES EXPECTED.
NO FAITH IN SPEEDY IMPROVEMENT.

THE PRESIDENTS MEETING LIVELY osE-ISDIGs
NATION OVER THE Low-RArE CONTRACTS.
Further inquiries show that the result Of the
conference Of the railroad presidents Thursday
unsatisfactory than at first supposed 1t
was marked by ordinations and determinations in
regard 10 ratecu ting than lave heretofore character
lied the conferences which have been held
since the disturbances OF the tariff became
serious In last March. It with difficulty
that the representatives OF the Pennsylvania railroad
system restrained from insisting upon isTi re-
ducton the basis Of IS 100 pounds grain
from Chicago to NewYork President Roberts himsefde
eaed That he consented to limit the reduction to 90 cents
IN Difference the wishes Of President Ruter OF
the New York Central The hope that this reduction VIII
cause change In the situation hangs slender thread
IL is not believed thar the timecoGiracts Of the Grand
Trunk and the Baltimore aud Ohio systems viii be
terminated, and these are made at rates from
TO cents under the new rates, their
continuance VIII compel further reduction A. the Penn
syvania Railroad is firmly % meet the figures
made by is competitors hereafter. Conservative trunk
line managers said yesterday that unless there should be
speedy improvement In business before many weeks
rates would most probably drift much lower. promf-
nent western president SAID q believe that before
week Is over the Pennsylvania will demand reduction
in the tariff grain rate 70 Is cents
The conduct Of the Baltimore aud Ohio Rail-
road IS bitterly condemned. The very founda-
said high official OF Of the New York
lines has the prohibition Of timocontracs Fat cut
rates 50 that the restoration o. The af could be affected
whenever the managers recognized the necessity stop
ping INSTRUMENTATION. when the Baltimore and Ohio
found that rival was cutting tie tauf out Of 81 Louis
IL should have applied the pool remedy-namey o. call
on Mr. Fink to REFUGE the ta 70 the cut rJtesso that all
roads would stand equal footing Instead Of doing
So authorizes the Ohio and Mississippi 10 contract for
business that wiz probably months shipments.
MI Garrettoo, has always been most Conservative in this
matter ana has generally posed the reader OF lectures
on rate cutting 70 the other lines. Inc Penn-ylyala was
Indifferent few months ago when the Grand Trunk
taking away the business Of the Michigan Central and
the Lake shore; but when II h vttay touched by
the Baltimore and Ohio IL II up In arms"
Another Important reason why the Pennsytaniais
ton with its pool percentages. These awarded the
basofthe record OF business carried by the different lines.
its rates. secured the traffic and obtained
consideration at the hands Of the arbitrator percent
ages.
A regards the Chicago situation the contract between
the Grand Trunk and the Allan Line Of steamers,
with cargoes, stands In the way Of stable rates Tho
Pennsylvania Railroad declares that II has paid
money 10 it, steamship line when could not supply tho
cargOes rom tle business moving ana II CONTENDS mat
the Grand Trunk should do likewise. The Grand Trunk
refuses 10 cancel its contract with the Allan Line, al
tlOugh u says tht ony rev cargoc' are yer needed 20
III the present wants OF The steamer President Roberts
j. understood 10 have declared az Thursdays meeting
that hereafter be- should not have the least hesitation %
COmpIlctOn IA calling promptly FOR reduction OF sChed-
ute rates 10 the actual figures.
An indication Of the temper OF the discussions the
meeting may be gathered from the vigorous and sarcastic
speech made 10y Austin CorDn, president Of the indiana,
BloOulu-I Oh ana western isdllIOad Wheh ne tleIei
the pool, Mr.. C0ybn declared he supposed THAI all tho
agreements were made TO he carried out IN good fah.
ana Wheh rates were agreed upon the pledges 20 man
tain them meant something He had made some prueres3
Ia kn0Wedge however ana had learned that when road
maze compact Ut meant Jhat "oud MAINTAIN tht ites
Of it, competitors II is said that THIS wac the drtnce
used 10y Pres lent DevefruX, OF the Cleveland Columbus.
cincinnati ana Indianapolis aHer ne htd pecn pl.sssd
with the charge that his road had cut the s. Louis tariff
after the meeting OF February ana dciafed mat il hal
SAT . or days while It's competitors kept On cutting al
around him.