New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-16
THE WESTERN POOL FORMED
A TRUCE AMONG THE wARRING MANAGERS
THE WABASH YIELDS AT LAsT-PERCENTAGEs oF

ened. would destroy all the chances of the hcompact
finally being signed, did not develop, and the whole
matter OF the settlement Of the old balance over which
there was 30 much trouble was deferred 1t is likely
thdt the Wabash given guarantee that it would
be paid something. The pool is to last five years. IL
renlly settles all the Western railroad troubles,
although the Northwestern traffic yet .remains All
the questions which could possibly arise came up in
this Western pool aud it is considered certain that
there will be further trouble with the new agree
ment. AS modified it provides that the association
shall be known the Western Traffic Association the
object Of which shall be an equitable division of the
revenue derived from the following described tract
originating at, destined to passing through points
on the Mississippi River from Minneapolis to New
Orleans inclusive.
First-The gross revenue accrung to the several
companies parties to the agreement from transporta
tiop cast OF the Missouri River of any and all freight
10 or from Council Bluffs Papillon and Omaha locally
Second-Ihe gross revenue accruing to the Missouri
Pacific on hogs and cattle product from Omaha,
eas Rfn he sssSp DR Of p
NewOrleans inclusive, reaching that rive at points
below Carondelct and the gross revenue accruing to
the Kansas City st, Joseph anc: Council Bluffs Rail
ROAD on hogs and cattle pro'dct from Omaha Papillon
and Council Bluffs, lScally to Kansas City, when
destined to points oeyond
Ihirdribe gross revenue from transportation east
oi the ssouri River of any and all freight to and
ir"h all points on the Union Pacific Railway east OF
and including Juesburg that is not now or hereafter
pooled between the Burlington and Missouri River
Railroad and the Union Pacific Railroad, that Is now
and hereafter pooled between the Sioux CITY ana
Pacific and the Fremont Elkhorn and Missouri Valley
and Union Pacific Railway companies, and that now
and hereafter pooled between the Burlington and
Missouri River Fremont, Elkhorn and the Missouri
Valley, Missouri Pacific and Union Pacific railways.
Fourh-Ihc gross revenue from transportation
east of the Missouri River the business of junction
points pooled of the Missouri River between the
Union Pacific and the Burlington and Missouri River
Railroad companies, EXCEPT that OF Lincoln, Ned,
which is specially provided for
Snth-Ihe gross revenue from transportation east
OF the Missouri River on the business OF Junction points
pooled west of the Missouri River between the Union
Pacific and the Sioux City and Pacific and Fremont,
Elkhorn and Missouri River Railroad, except that OF
Lincoln, Neb.
Fixth-The gross revenue from transportation east
Of the Missouri River on all freight to and from all
points west of Julesburg the Union Pacific Kali
way.
Seventh The gross revenue from transportation
of the Missouri River all freight to and from
Lincoln Neb
Elghth-The gross revenue from transportation east
of the Missouri River all range cattle "range
cattle" being defined to all cattle shipped from,
west of, Laramie City. on the Union Paclnc, and
Douglas the Fremont, Elkhorn and Missouri
Valley, including also any cattle from that territory
fed in transit in Ncbrasks to come on through rates
1t lie agreed not TO permit range cattle to be leu III
transit east of the Missouri River on through rates. III
Is also agreed tt in all the pools the earnings upon
limestone, cement, railroad ties lumber OF all KINDS
lath shingles fence posts and telegraph poles are 10
shall not include marble slate aud ting OF any kind
also that a sub-poo shall be made on lime and cement
and also upon ties and lumber and Its products IneIe
shall be exempted from the pools soit coa hcu wrse
of the eastern boundary OF the State OF nois or Il
direct line drawn south thereof to the Gull OF Mexico
The division OF earnings was arranged as follows:
Omaha. Council Bluffs and Papion local pool
Kansas CITY St Joseph and Council Bluffs u per
cent St. Paul aLd Omaha. per cent Misso.ri
Pacific 10 pe7 cent the remainder to oe DIVIDED
among the other parties as hereafter provided.
Doo,A TO lnanl an M.
except revenue accrung from the transportation OF
| live took Missouri Pacific, per cent the remain
der to be divided as follows Chicago ana paI
and Rock Island. jointly. "a per cent this joint per-
centage to be divided as the parties thereto may siee
Burlington and Missouri River anc Union racine
| pool-St Paul and Omaha, per cent except revenue
| from live stock Missouri Pacific per cent the re-
mainder to be divided follows Chicago and North
| western 13 per cent Wabash, Milwaukee and St'
Paul and Rock Island, jointly, 20 per cent the bur
nton accepts in this pool such portions OF thc Dusl.
ness may be allotted to the Burlington ana Missouri M
River and valves all claim to the agreed snare Vi the
| business allotted 10 the Union Pacihc ~ 70
business pooled between the Sioux City and Pacific;
Fremont, Elkhorn and Missouri Valey-St. Paul ana
| Omaha and Union Pacific and Missouri Pacific per
cent the remainder to be divided US ioiiows Dur ii
| lington l3 per cent Wabash Milwaukee and 81 faul
and Rock Island, Jointly. 81 per cent the chicago
| and Northwestern and Omaha roads accept IN lnIs ms
pool such portion of the business as may be aotted 70
the Sioux City and Pacific and Fremont, Elkhorn anu
| Missouri Valley. and waive all claims 10 inc agrceu
share of the business allotted TO the Union facnc:
Business of Julest urg- Missouri Pacihc, per
cent st. Paul aud Omaha, 2 per cent except re'e-
| nue. accrung from live stock the remainder 10 De
| divided as follows Burlington ~ per cent Nortn- I
western. 20 per cent Wabash, Milwaukee and st.
Paul and Rock Island jointly. 90 per cent
| Lincoln poo-Pcrcentages TO Oe allotted'
LAST TESTIMONY IL TIE NIcKEL-PLArE'
CASE.
| CLEVELAND, Sert. 10 (SpeciaD.-The hear
ing of the case Of Union Trust Company against the
| piafa Pail
! forenoon before Judges James and Hamilton Ihe
| der oston OF II. A. " Post, OF New-York as TO the
organization OF tho original company In Now lorK ano
transfer the Seney syndicate was READ py 'u"se
uoadly The testimony OF the Central Trust Company
the trustee of the mortgage bonds OF S5OOOoOo,
nearly all which held in Now-forK was coneiuue0
by the reading OF the deposition OF L b. Newcomoei
Daniel A. Heald epresident OF the Home insurance
and John r. Fonda, assistant treasurer or tue MUTUAL
| Lite Insurance Company Mr. NewcomDe s'ateu I'M
he had large dealings with these securities Ior us
| customsrs but hal never heard, nor suspected that
there was any question to the validity OF tue Donds o
the right of the New-York Central and st. Louis Kali
road Company TO them that these bonds we're not
speculative security till after they deiaulted ca Oh
the contrary favorite security with corporations
and that millions OF them changed hanos IN the oen
market without any question eyer having & pegn asd
to their validity Mr. HeaIi ana Johh % - L, Iona " d
stated that their respective companies had pnrca, ~
these first mortgage bonds IN tne open po
| AS 10 the validity OF the bonds ,v r, w.,
There then offered the Application oi w. N. aIt
deIbilt the Governing Committee OF the new l oih M
stock Exchange, May Is, lec3, 10 have TUG scsoh
mort gage listed The natural effect oil De nsuhS o n'
aecopd mortgage to strengthen the nrst mortgage
AMI this duplication was oered to show the recognition
OF the first mortgage by Vanderbilt party after the
| purchase OF the road.
Argument was opeIed by Judge Hale. for the plantif
the Uuion Trust Company. He devoted hls tine u
assaiing the validity OF the cartrust securities ne
claimed bat the Issuing OF the cartrus certificates ~
simply a scheme to raise money and taat Tue hrss "he
| second mortgages covered the equipment
PARTICu LAR ABOUT TEEIR sECU RIrY.
PHILADELPHIA, Sept. Is (SpecdO. O.-Argu
| ment was heard by Judge Arnold this morning upor
exceptions to bonds submitted by the schuylki Hve
East side Railroad Company security for the paymeh
| :, ,.o. ;,v,,,.d In ina takins of portlons OF th,