The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-17
TsIh. Win the Managers.

INV YoRK, Nov. lG.-The Herald this
morning says that the excitement over
the tremendous cut In West-bound freight
rates inaugurated by the New York
Central had apparently almost died out
in railroad shipping and financial circles
today. But tho calm was deceptive.
There Is promise Of lively developments
within few days Judge Cooley Of tho
Interstate Commission, has, II is said, re-
solved 10 request the New York Central
officials TO give up the names Of the
several roads" alleged 20 have been
secretly cutting rates, and hc will also
demand from Traffic Manager Guiliord, OF
the New York Central, tho proofs OF his
statement This bids fair TO land some Of
the ra,o-slaughtermg officials. In Jail.
Popular belief has been that tho chief
offender was the Pennsylvania road and
that the object was 10 give death blow 10
the South Pennsylvania scheme. Dr.
llDstCttcr, Of Piltsburg. alone kept the
life In that scheme 10y periodical visits
10 this city, calling upon the Vanderbits
and exhorting thom to build the road.
He WIS constantly arguing that tie com
pact made between the Nandcrhilts and
the PENNSYLVANIA people In connection
with the West Shore DEAL had been
violated by the Pennsylvania catering Tor
New England business, and that c0nsa.
qucntly the Nandefhilis were morally
FREQ TO 90 ahead aud build the South
| Pennsylvania line. Dr. llostcttor's death.
u was argued, would nov head 30 the sale
OF his interest In the South Pcnnsylyania
scheme, and the Pennsylvania people wcru
sashing rates ~ ~ 10 make that interest
absolutely worthless and 81 secure the cx.
tnclion oi the South Pennsylvania enter
prise.
Those who entertain this theory-.and
many well informed railroad men are in.
| cluded-iurthcr argue that the Mcssns
| Vanderbilt determined 90 tnko the bull by
the horns 10y openly putting rates TO such
n low level M must force the Pcnnsylyania
Railroad officials 10 n settlement. Thus the
Nandcrbilts wop said 10 reason: I'VE
hold bigger blocks oi stock In our road than
any other interest, domestic OF foreign, In.
diyidual NJ pool, and We are willing To risk
the reduction II dividend. or even pas,
one. who can complaint ON the other
hand, thc PcnnSylyania stock u widely
scattered, very large proportion bcing
held In England. and President Roberts
has personally little Or none OF u. His for.
Cign stockholders are already dissatisfied,
and clamoring for largur dividends, aud
they will not submit 10 the prospect al
getting none At all Hence, " We publicly
cut the rates the ponnsylvania must come
% terms Moreover, II our action knocks
down the market price ui our stocks W
can pick up enough floating shares NJ The
lower pnco 10 yield ns ns much profit a.
the larger dividends would amount TO-"
| The Herlh also publishes an interview
with President Roberts, OF tho Pcnnsyl
wanna.
II think, he taid, "thai Won can "a,
In reference to this matter ol Western
rates that We had no knowledge whatever
that such reduction was going Ia be- made
and We did not know until yesterday
when we received the official notice iron
Dir. Fink, why the induction was made.
''But the New York Central having ~
duccd rates, and u being one OF the bcs
transportation lines In the whole country
the lcnnsylvania, M matter Of course
would have 10 establish equal rates IL
order 20 properly serve hs customers an,
20 protect the interests Of the city OF Phil
adolphia. which depends W largely upor
WV i'NNHllNanh lnhu lnf us western
outlet We have made no reduction Dc
! low tho rates established by the New Yorl
! Central, and do not contemplate maxim,
any reductions"
"You have heard, Of course, Mr.. Rob
eris, the reports about your company's nj
legged efforts 10 kill the South Pcnnsylyani
cnierprisef'
"Ycs and will say that the Soutl
Pcnnsylvania matter has no connection
whatever, nor has Il over had any connec
ton whatever, with any rates ever cstab
liahed by this company. ANY statcmen
!. made by any person atirbutlng any ac,iol
. OF tho Pennsylvania 10 consideration
based upon considerations affecting an
railway enterprise. either competitive q
otherwise. or upon any considerations al
|. iccting tho stock market, In absolutol
false In cvery particular Whatever rate
tho Pennsylyanla Railroad Company wa
I charging upon wesi.bonnd traffic wer
such a. lis published tariff indicated, an,
u has made no variation IN those rate,
| tx..x Hid Al eonfs An. ..laf. m lt.. a.. ...i.