New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-01-13
BUSINESS OF THE RAILROADS.
REPORT OF THE COMMISSIONERS.
WHAT THE RAILWAYS IN THIS STATE DID LAS
YEAR.

YEAR.
ALBANY, Jan. 12.- The Railroad Commits
soners their third annual report to the Legislature
covering fiscal year ended september 80 1882 state
that the business Of the railroads has been unprohaoe
for another year. ManJ roads reduced ther dividends
others barely earned their fixed charges and seven oi
which the New-York. CHICAGO and st. Louis fhe
Rochester and Pittsburg, and the Buffalo, New YORK
and Philadelphia the conspicuous ones succuoeu
entirely. The Commissioners attribute TINS unhappy
condition to excessive competition between inc trunk
line railroads which prevailed during the year In
regard the pooling agreement which was sgned
in November, the Commissioners say:
The chief difference between it and the previous
trunk line agreement. other than In the method OF
carrying details is that thisone PROVIDES ior
any excess that IA road may carry over It's allotted
percentage BY money payment whereas me e5
pool provided that The excess OF freight shou oe d
over bodily diverted to the roads who were Dennu
their allotted percentage The serious abuses gromimE
ont OF this diversion OF freight led TO numerous COLI
plants. How long this compact Will last no one can
sa. Judging fom the nvariaole disruption OF taose
preceding it and from the fact that there Is
Inherent eXtraneOus power to compel ODeuehce 10
its provisions DTS maintenance depending eneS uG
the good faith of the parties Thereto snort ire
be confidently predicted On the other hand the results
Of The last late the anscer
senting these vast properes shrink more man ever
bili1ies OF the maintenance the pool therefore, are
greater than heretofore. PROVIDED always tt Tvs soa'
powers exercised toward the puphc WIFI "iSuo"'
discretion and Justice.
Reviewing the acquisition of the West Shore by the
New-YOrk Central, which the Commissioners pronounce
perhaps the most important and significant event oil
the year, they say:
TINS transaction has afforded text FOR great many
reflections condemUing approving, depending upon
the point OF view from Mbch 1t Is REGARDED III was
appro Ved by the stockholders OF the New YORK oeha
Railroad as a necessary protection for their property,
although the board OF directors were under no necessity
OF asking their consent II being claneu tt tno ian
gives that body the power to issue pOnds lease other
roads or guarantee the bonds OF other roads without an.
expression OF approval or the reverse from e
holders; powers the curtailment OF whlch tls boa1
ded twice TO the Legislature without a;
Whatever else may be said about the transaction II
certainly emphasizes and fphls the predictions OF tle
Board in its remarks upon the building OF new ana un
necessary railroads upon parallel or luehtca routes VI
old ones
The. Commissioners express satisfaction with the
system quarterly and annual reports in which there
has boon marked Improvement. They urge the puplca
ZION of the quarterly reports:
The Board in its annual report recommended that
the quarterly reports made by railroads 10 the boarh
should be published IN newspaper where tne prIhslp
office OF the road located the same rs quarterly
reports are published by banks Tue reasons which
apuy TO the publication OF bank reports apply win
equal and respects greater force To the
Railroad stocks are more generally aeat III ~ .ho
pr than bank stocks. aud the Interest ALREADY deve
oped in requests the Board for these reports shows
clearly their pubic denand thG 80 rI rcSort
he published aud also tnat penalty' similar 70 .i
relating to annual reports, be Imposed ny ia" ior Dun
filing of quarterly reports
The Commissioners congratulate themselves that
probably for the first time since railroads haze been
run within the state OF NewYork can 1t he cad that
year has elapsed without single passenger being hied
from causes beyond his control Such was the TACT
for the fiscal year ending September 30 1852. They
rerew the recommendations for amendments 10 existing
laws which they have proposed in previous rears and
complain that they been adopted. They say on
this point:
In the Legislature OF 1854 the proposed by
the Board, somewhat amended, were generally reported
favoraDly left at the end OF the session al the
pon OF hnal passage In 1883 they were again recon-
mended to the same Senate ana new Assembly, sub
stantally "a approved by the senate In lrsl Ihe
Senate passed the measures the Railroad Committee oil
the Assembly reported upon them so late ana III ruch
conflict with the Seuates action, AMI pressed Tor cO-d-
Grafton feebly as 10 prevent the Assembly IRON
dIsposing of them desire OF those who prefer
that nothing shall be done remedy the detects III our
railroad statutes was accomplished
one OF roposed amendments ref5-s to the leasing