New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-02
THE CLEARING HOUSE PLAN
IT'S SPEEDY CONSERVATION URGED.
EARTHLY FAVORED by THE OFFICIAL ORGAN
OF THE RAILWAYS.
JET TEIEGRAra TO THE TRIBUNE. !

JET TEL EGRAPH TO THE TRIBUNE.
Chicago Dec. 1.-The proposed railway clearing
house plan IS stlll agltatlng the railway officials In
the West The Railway Age which Is regarded as
the official organ @; the railways, says to-day
The absolute necessity of adopting some moro eff
fcctlve measures to prevent the bankruptcy with
which the enforcement Of the Interstate Commerce
law is threatening every railway in the West impels
their managers to consider every plan of salvation
which can be devised. Elsewhere Is published the
outline of very important proposition covering tho
formation OF what IS there styled the Western Rail
road Clearing House, which as the result Of numcr-
conferences, has been privately submitted for con-
sheraton TO tic heads Of the various companies con
cerncd.
After explaining the provisions of the proposed
combination, the writer continues:
1t VIII be seen that this plan In no sense contem-
plates trlist7 or pools The ownership and man
agemcnt of the railway properties and Of all their
traffic, except the comparatively small proportion
known as competitive, Is not to be affected IN the
least by this association It's chief object is TO take
the rate making power for competitive business with
all its Temptations and dangers from the hands OF a
multitude OF men. each Of whom may seek TO shut
nc OF the responsibility upon others and TO confne It
to a delegated body I'm which each Of the roads mas
a representative, their authority to be concentrated
for efficiency in board Of three. We fully believe
that this plan II carried ro effect, would practically
abolish rate cutting with all its tremendous loss and
decentralization.
The formation and honest administration Of this
clearing house the territory proposed would DC OIL
inc alculabe benefit TO the vast railway mileage IN
voved and also to the public. But tho principle
should not be confined TO the territory Indicated
vast as It is In fact tho limitation Of IFS scope by
arbitrary lines constitutes lis chief difficulty and
danger It should take IN the whole country. west 10
the Pacific Ocean. north TO the Canadian boundary
and south to Mexico and the Gulf; and under similar
organizations the lines east Of Chicago and the Mis-
slssIpp River should also unite I'm determined efOrt
by surrender Of some individual rights, to avert
the destruction which now threatens the interests
which they represent II IS TO be understood that the
plan referred TO has only been submitted by repre-
sentative railway officers TO the companies concerned
for consideration. 1t IS TO be- hoped however. that
no unnecessary time will be lost by any manager In
reaching his decision Every days continuance Of the
existing Generalization means enormous loss to the
railway interest, and every ho3r OF railway securities
has right TO demand that those placed in charge OF
this property shall not allow It to suffer for day OF
an hour If he can prevent IT,
Speaking Of the railway clearing house plan, Cen
era McNulia receiver OF tho Wabash. sad 3" I don't
believe We VIII ever como 10 agreement concern
ing the proposed plan Tho various interests Of the
many roads involved I'm The hcmc are too diverse
allow OF their working togo Their in one com
binatlOn sim. the Oh"r md, II Is absolui "
necessary that something ,...A be done to pfoiccl
The interests of many of the western roads. II IS
my firm opinion that unless some suitable plan Is
speedily adopted the granger roads, such raj ways
rs the Northwestern and Rock Island. have nothing
before them but bankruptcy They positively cannon
live and make money ucrr the Interstate Conme rec