New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-11-14
FUTURE OF RAIL RATES.
MUST DIFFERENTIALS COZ
swu POLICY OF THE PENNSYLVANIA QUESTION.

IN POLICY OF THE PENNSYLVANIA QUESTION
sD-No NEW REDUCTION OF TARIFFS
yAers was no new development in the trunk line
ueeahon yesterday, although the facts published IN
~ Tribune caused discussion Of decided interest
among those who looked upon the lowering OF inc
wotbound tariff by the NewYork Central Railroad as
. thunder-clap out of clear sky" The revised
H.rt6s OF the other roads were issued promptly upon
~ receipt Of the and only the neces
sary details required for the completion OF all ocisi
schedules occupy the attention of the onicers Oh
the different lines. The officers Of the New-forh
Central observed the same retccnce that they dis
played Monday and President Depew declined 10 oe
drawn into any newspaper controversy with President
Roberts Of the Pennsylvania Railroad At Commis
sioner Fink's Office there was an equal Nucehoe /"
the expression of official opinions, and the reason
was believed by many railroad observers 10 DC oaSco
upon the recognition Of tho fact that that organiza
ton has fallen to the level of bureau for colatns
statistics.
The most Interesting point of controversy now re-
lates to the possible developments in the future IN
tho policies which resulted in the present cond
ton of trunk lnc rates. Various vague ruhors "eio
in circulation that meeting Of the presidents hau
been called or that steps being taken to bring
one abont Careful readers of the published inter
view od President Roberts saw at once the utility
of such meeting under existing circumstances. Aho
mistake made by many persons In their view OF he
situation rested upon the assumption that the tarh
reduction by the New-No rk Cenuai was more IMAM ="
recognition Of conditions which have actually existed
for some time Half Of the sensational character OF
the Centras announcement would have been destroyed
n there had been a careful concealmeM OF the actual
range of rates beforehand. The question now con-
fronting railroad is whether or not there Will 20
further lowering of rates, and at the moment It is
not expected that profits will be ruined Dy moi0
cutting down of the tariff
1t Is understood that the open reductions IN rates
made BY the Central were not decided upon uhlli
after final effort had been made to ascertain the
purposes and position of the Pennsylvania Railroad.
For several months the latter road has been acting IN
n manner consistent with the theory that 1t was not
willing to allow diferential freight rates 10 any road
whose inability fair share Of the general
traffic on equal rates recognized by Commissioner
Fink and the New-York Central In the absence OF
n pool or division Of traffic earnings by allotted
percentages which the Interstate Commerce law Tor
bade but which had been the old plan for securing
stable and equitable 10 shippers the socalled
weaker lines had claimed authorized lower rates, ana
they had been awarded TO them by Mr.. Fink IL
was a measure only carrying out the principle OF
dlerent,al passenger rates, which had been one OF
tho Of the old pools respecting many branches
of tho competitive passenger traffic The Pennsyi-
vania has given every evidence of being opposed TO
this policy IN freight and Of insisting upon UNIFORM
schedules, which would give IT the lions share OF
the through tonnage. And although no formal notice
has been sent by the Pennsylvana TO Mr. Fink OF
roads, that company has for some time been acting
,n freight matters though IT was entirely lnde-
pendent of all obligations of cooperation with its com
pentors. ., .,.
sad a close observer of the situation yesterday;
alt Is hard 10 see what the Pennsylvania is aiming
at. unless il Is a which will crowd the weakest
ine 10 the wall If that policy is TO be pursued
then the public be prepared TO see bankruptcies
that will bring about monopoly OF railroad power
II may be wise have tho strong roads take All
that they can carry and leave the weaker lines 10
accept what left, bat IL is proposition which is IN
violation of every theory and principle upon which
railroad prosperity in the past has been secured
Just as the excess of production of any commodity
will determine without oiiseting conditions the price
of the whole production will the weakness OF any
competitor among railroads fix the rate upon which
the stronger road must obtain its traffic up 10 It's
maximum carrying capacity If there is 10 be no kind
Of q reasonable combination or agreement Ana wars
of rates among railroads, based upon scramble OF
line the most IL can, have always been
hlntful TO both carrier and shipper"
EFFECTS OF THE CUT FELT IN LONDON.
london, Nov. 1912 80 p. m.-American railway
securities nat at the Stock Exchange, the cutting
Of railway freight rates in the United States having
surprised the market.