New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-09

these protestat!ons which somewhat rudey shocked
when IN ssl he led IN uinOus war OF east-bound
freight rates that oppressed terribly the value of all rail-
way securities The story then got out that he had not
only sold out his holdings during the continuance of the
excited period Of the previous year. but had actually
gone " short" ON the market This one explanation
OF the In rates Which finally was not confined to
freight hut also extended to passenger traffic Another
and IN all probability the true explanation was TINS
The war IN rates was begun against the Ere which had
grain traffic from the West and carried on rocklessly
rot so much to punish the Erie ~ to depress securities
and compel the cessation OF the work or construction
going on on the line OF tho sO-called NckelPiate
road The contest was carried on with great energy
ana even acrimOny and a eliminating point was
reached when III June, 1851 Mr. vanderbilt lett the
meeting OF the trunk line presidents after every
proposition OF settlement advanced For whle IN Tue
subsequent meetings III the Poo COMMISSIONERS once
the only representative present from the Vanderbilt
roads subordinate officer of the Michigan Central.
MI NandeTblts position was an untenabe one, nut he
discovered before long method for yielding 1t without
himself assuming the responsibility He turned the Issue
on 10 tue question OF dercntal rates from tue west
to the sca6oari first publishing this policy In
conversation with a TRIBUNE reporter THIS, per-
force. made an ally In the hGht OF the Erie, since
the claim now became one OF the preservation OF the
supposed n Ihts of NowlOrk CITY. The question was
not nj all new There nat been FOR long tine an agreed
difference IN favor o Baltimore and Philadr hla IN lhe
rates OF freight from Chicago From 500 TO March, 1876,
the difference RED from 10 10 cents per 100 pounds
In March, 1876. The system OF masking hXed differences
In Rates based upon NewYor rates was abandoned and
a tarIi substituted for 1t which was based
upon the relative distance OF the cities named
from Western common points. This tauh was man.
tanned only month and half, when the Central ana
Erie Withdrew from the agreement rs IL gave great
advantage TO Philadelphia aud Baltimore, Au0lDer war
OF rates began and continued til Juy, l577. when an
DER new AGREEMENT hNei differences III rates were ~
established with a view Of cQualiZiug thu aggregate
cost OF raj and ocean transportation betweonc9npethS
ports Reached thorough Baltiuorr, Philadelphia
anu New York Three month"; nouce was ieqolre'n 20
June s. l-~o. 10y the Central After the freight war Of
1851 had reached the stage Indicated the question OF
Eric Attempted to abolish dlHtrentiaa, the Pennsylvania
to let them down without rudenes7 the
They Investigated tho subject aud in Juy sS2 reported
ci,ion wa, not niniing. but Mr. Vanderbilt raised
protest against IT, lie bad IN iH"t Withdrawn
and was chiefly engaged IN seeking
le-torati. Of his health. TO complete Ms discontinue
finally early IA $50 holght 1t wise since he lnd con
yinccl hmsclt he "ond moi break H. 20 Buy IT, william
h carried on tn negotiations aud on Tie reorganization
OG tue company was elected president
MS FINAL RETIREMENT.
ON May 1, Iss3 Mr. Vanderbilt finally surrendered
the presidcncics Of the various roads with which he hd
been identified FOR many years Tho Fc'.rement had
been ANTICIPATED for some time. but the fact
that his ons ala succeed blm 10 these prcsdencies
caused considerable surprise IN -urrcnderHg ais posi-
ton Mr. Nanucruj said: In ms judgment the tim" has
arrived when owe ~ duty To myself To tue coTpo-
rations. and those around me- upou wuou tue ehef
manIscmc Will dcyulvc 10 retire from the prcsi
dcncy. In declining the honor OF reelection
from you do not mean To- ,ctcr my relations OF aate
Interest nave heretofore taken IN these CORPORA
tons. IL parp1,c aud dlul that these several
orat0u1 ali All rcluan upon shch basis lor thoII
harmonious working with each other ana Tor tue eIhc'ht
luEuaArmcut vi each viii secure lOr the sys-
TEN both pcriniu,ucy AMI prosperity. Under Tue
reorganization each oil them viii elect chairman ot tue
Board "hp la conn elton With tue EhrcutN'and lhtCe
Comm tees will have immediate aud constant super
ysipu OF AL the ahaig oi ~" companies ala vi u ~ nc
support II the officers the active assist
auce 81 tho directors. The plan OF ORGANIZATION
aiuptcd and iuAuslrdtcl VIII lcMoNe inc business
the from the contingencies OF accident 10
ANY individual aud insure c"htluuhn'e "t inc policy
wLi,n has heretofore met the approval OF the Stock
hOidcf-.' - . $500.
ON the day after Mr. Vanderbilt, with his son Geor-e
" and h. uncle Jacob II. vanderbilt, sailed ior
Eurulr Iaur- H. Rutf~r sd~ elected president OF me
Genital and retained iur position until M DEATH ms
successor being CDauucty ". bopew. The sj'"m LAID
out hy M Vanderbilt which l. tascd on thr Lh- ia
system oil railway nent. has oluce "cch MAN
tanned ,-., -, ,...,..
Fnr .t years previous tu March, Ssl. Mr. lauder
It WIS a rec aud iar-c slJtrLoder Ia ia" western
l-tInu TresrAuu Company. Tao tuunuoHore hhd placed
iu tu the directory iud after the tumnudoic doAth no
folln,yrd the family plan aud made ms rlr-t son. or
,eliu. director ON March 81 Lc resigned IrOm Inc
IlnAri having % wa- tnrn said, ruld the hulk 81 Ms
holdings IA the company H- resi- n1ii"h followed trd
ON tr purchase OF the American UEion dEd Wa Stop u!
ia. IA. of giving thr absorbed company the agreed
rrprr.rutaiiuA Iu tine Board ~ Directors.
most of NanlrfnIt', recent large op'r" 'oh- IN
railway stock r fresh lu ih" memory g" httrHt'u
persons especially h- purchase aud DEALINGS lu chicago
and Northwestern. omaha fntiadclpi' aud i'rilluR,
aud his part LEASING of tue West shore l"' ot
the purpose of putnUs an end o. the cOhptuhuh
two -i,s or tho nud-od i'INcI
hey need not bC I"hcar,cd h"fc.