New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-22
TO RESTORE RATES.
WESTERN RAILROAD PRESIDENTS HOLD A
PEACE CONFERENCE.
THE ARRANGEMENTS NOT YET COMPLETED, BUT
CONFIDENCE EXPRESSED THAT THE
WARS ARE ENDED.

CONFIDENCE EXPRESSED THAT THE
WARS ARE ENDED.
Conference between the presidents Of the prln-
cipal railroad companies west OF Chicago ana
prominent representatives Of large European ana
American banking houses have been held at the
house of J. Plerpont Morgan in the forenoon OF
the past two days. Besides Mr.. Morgan the
banking interests were represented by John crosby
Brown, of Brown Brothers q Co., and George u
Magoun, of Kidder, Peabody & Co., who are the
New-Yorlz agents of the Barings. All the Vest
ern railroads were represented except the Chicago
and Alton. Among those present were Presidents
Charles Francs Adams of the Union Pacific; Jay
Could of the Missouri Pacific; R. i. Cable of the
Chicago, Rock Island and Pacific; Charles e.
Perkins. Of the Chicago. Burlington and Quincy:
Edward f. Winslow, Of the st. Louis and San
Francisco; and Vice-Presidents Frank 5. Bond,
OF the Chicago, Milwaukee and St. Paul; and
Marvin Hughitt, of the Chicago and Northwestern.
The Atchison. Topeka and Santa Fe was rep
resented by Mr. Magoun who was recently elected
director of the company, and by President Wins
low, of the St Louis and San Francisco.
The discussion at the meetings has been full,
and, while tangible results were reached, they
are said to have been highly satisfactory. On
Thursday morning President Gable, of the Rock
Island. remarked that the preliminary agreement
had hot been signed by Mr. Gould, who replied
that he had not signed because he was not en-
tirely satisfied with the form of the agreement
lie expressed his willingness to assent to main
tenance of rates. but intinated that he would
prefer to see all the names on one document. 1t
was explained Immediately that separate papers
had been sent to the companies merely for the
purpose of saving time, and it is understood that
all the objections offered by Mr.. Gould were
quickly overcome
The Chicago and Alton has not yet signed the
agreement and 1t was not represented at either
meeting, but there little doubt among the
persons present that the company would be
brought promptly into line While that company
refused TO take part in the Clearing House plan
which was recently proposed, many prominent
shareholders are known TO be in favor of the
present agreement to maintain rates,
and their influence on the manage
ment Is likely to be felt within "a
short time Another company that has not yet
ioined in the movement is the Wabash Western,
which is important only disturbing factor
in the traffic between St Louis and Kansas City.
IT. was thought, however, that if Mr.. Gould
was willing to sign for the Missouri Pacific he
would have no difficulty In prevailing upon the
Wabash officers to give their assent.
The agreement which was suggested by Presi-
dent Strong, of the Atchison, and Cable, Of the
Rock Island, Is simply 10 maintain full schedule
rates for sixty days from January |, and after
that time to require thirty days notice from any
company wishing TO withdraw from the compact
The presidents become personally responsible for
the maintenance OF rates, and agree TO deprive
subordinate officers who may degiate from the
tariff OF the power 10 make rates. In the ninety
days which seem 10 be the assured life of the agree
mcnt II IS expected that comprehensive plan Tor
the regulation Of traffic on the Western railroads
Will be perfected Several schemes have been
suggested and the whole situation was discussed
at these conferences The plan which seems
operating company for all the railroads west OF
the Mississippi n which the present companies
shall hold stock according to their earning capa0-