The morning news., 1888-06-02
TO POOL ALL THE ROADS.
MR.. INMAN'S NEW SCHEME FOR
THE SOUTHERN LINES.

| He Proposes Board OF Control Con-
sisting of the President OF Each
Compeny-This Board to Elect a
Board OF Arbitration-Th Majority
Vote to Rule.
New York, June 1.-The Terminal con-
test, which was concluded by the stock
holders meeting at Richmond, Va, yester-
day, is universally regarded by disinterested
people of Wall street as an overwhelming
victory for the luman party, and the only
surprise expressed is at the complete fiasco
of the Rice-Libbey faction.
President John H. Inman was seen TO-
day, and asked if he had formulated any
| policy for harmonizing the Southern rail
road interests and looking to the promotion
of the welfare of all. He replied: such
| policy is vitality essential, and while am
not yet prepared to define exactly
what %. it should be, l have
given the natter close thought, and
| am prepared to recommend something like
the following: | would advise that all the
| Important roads of the South unite in form
| ing board of control, consisting of the
| president, or in his absence, of the vice
president, of each road that might be a
A COMMITTEE OF ARBITRATION
Second: That this board of control elect
committee OF arbitration to consist of
| three members.
The board of control to be convened at any
time on the call OF the president or secre-
tary, upon the written application of any
member of the board. and tho place of each
succeeding meeting to be settled by the
| board.
The board Of control to have a presid-
ing officer and secretary elected from its
number; all records Of meetings to he kept
by the secretary, and to be considered con-
fldential and for the use of the board only; (;
this board to have control over all que stions
involving the joint relations of any two
parties 10 the agreement; specifically, the
board to have control, first, over the main
tenanoe of rates, and upon the failure Of
any operating officer to conform to tho in
structions issued by the board through the
president Of his company, the board
president to order the discharge
of such offending officials. All questions
involving the extension or building, or ac-
uuirement by lease or purchase, or other
wise of additional mileage by any road,
when such extension involves the interest
of another road, party TO this agreement,
THE MAJORITY TO RULE.
San questions brought before the board
shall be decided by vote Of the majority
| present, but any party dissatisfied with that
vote shall have the right to appeal to the
board of arbitration, whose duty it shall be
| to promptly take up, consider and decide
| any matters referred to them, and their
decision, reached by majority vote, shall
be flnal aud binding.
"This line of policy is, of course, crudely
| presented in these suggestions, but, in my
| opinion, some such arrangement is perfectly
| practicable and, II adopted, will result in
material benefit and invaluable protection
| to all roads that may be parties TO such an
| agreement, and without some such conserv-
| ative provision ] fear railroad building may
| be overdone In the South and result in
serious damage 10 lines already established,
and likewise preclude the possibility of
profit to new enterprises. In addition to
| those evils, 1t may be added that wherever
| railroad building is overdone their service
| to the public is less efficient and the roads
themselves are poor"