The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-01
JAY G0ULD'S SCHEME
The Railroad King is Much Enthused
A Stumbling Block is Found In tho
Rock Island Company.
Consequently Mr.. Gould Spends
Thanksgiving With Gable.
Ho BuGsos tho Rock Island Man
Until Ho Gives Way,
And, Although Cable Doesn't See the
Advantage of the Railroad "Cloar-
ing House." uo WIN Con-
slider 1t Moro Fully.
The Railroad King is Much Enthused

slider 1t Moro Fully.
NEW YorE, Nov 30, The Tims says:
Mr., Jay Gould spont the greater part OF
his Thanksgiving day in missionary work.
lie devoted two hours trying TO convert
President Il, II. Cable, Of the Chicago,
Rock Island 4 Pacific road, TO belief in
the big railway trust by which it is pro-
posed to remedy all the evils aud dcmoral-
izaiion that abounds now in the shape Of
rate cutting wars.
Mr.. Gould becomes with each succeed
irE day more and more enthusiastic over
his projected trust aud the possibilities Of
II. lie has been deeply gricyed over tho
cool reception of its promised benefits,
however, by the Rock Island people,
whose cooperation ho depended ON from
the start. But when few days ago Pres
idcnt Cable and other Western directors Of
the Rock Island Company came to New
York, they quickly made known
their non.acccptancc OF tho trust
scheme. 1t was not practicable; there
were features In it that would
prove obnoxious to the public; il would
conflict with the law, il was protentious,
beautiful in theory, but still altogether in-
capable Of working 1t was TO overcome
these objections, II possible, that Mr..
Gould spent so much OF his time at tho
Windsor Hotel yesterday in an animated
discussion with President Cable of tho
trust proposal in all its details. MIR.
Gould argued with great carncstnoss. llo
showed clearly his anxious interest in
making the trust experiment Ono by
one be presented the schemes details,
pointing out advantages that ho disccnvd
aud emphasizing the corporation danger
aud aillclions now existing, which would
by his plan be- relieved, II not wholly
oradici,cd,
Mr.. Gable stated plainly tho weakness
hr siW in the propositions, aud pointed
out objections that hu beloved Would DO
mi.rI los anu-mouDpolisls aa illlying cries
lur luilhrr legislation adverse 10 thc uu-
rlaiy. Tie told Mr. Gould frankly that ho
was far from convinced that "a trust, such
ns ~ proposed, could bo oporaied tot any
| long time, OF even, Nhilo operated, ha
| equal to the task prescribed ior lL When
! the two maguatss parted, however, Mr..
Gould WIS rcassurcd by receiving lrcs-
dent Cables prpEiso tn give tho big prO-
i,gt lurhcr consideration with n view TO
IT, acceptance aud iulorsomcut II possible.
Onc ui President CaJius close friends,
speaking for him lrt night, said Mr..
Cable durg not think the trus, scheme Is
10. strong us Mr. Gould does. llc sucs week
spots in Il where % would be- attacked and
overcome. Seeing those vulnerable points
sp clearly. however. hD b. equipped, per.
haps. to provide remedies nni to .Uruish
the very elements Of strength that now ho
scrt are lacking. II can be- fairly said, |
think, that Zee b. lees opposed b. the scheme
than ho was before hc listened Ia Mr..
Guuld this afternoon. lie aud MIR. Goull
nu to confer again tomorrow. Not in
many years has JAY Gould appeared 80
much in earnest over any prpjoCt a. DO IS
nov over the periCrilng aud carrying out
Ui this tremendous railway trust, Ito bo-
liryrs that With It hc solves the whole rail-
road problem. relieving Il Of iA yuXati0nJ
aud complexities.
Mr. Gould showed how deeply he iclt
ON this matter week ago when Chairman
Miuryiy. oi the Western Traffic Ass1cia-
tpu. aud the representatives Of various
Southeastern railroads Tint met i0r open
ilsJusIo ui ihc trust idea as q solution u
ihr bitter rate Nla ON their territory.
Said Mr. Gould 10 the representatives u
the line, outside hls system. including ~
most prominent thH s. LOUIS & san lran-
cisco. TIE Airhi l1n & Santa H. aud 4. l..
Huntington a system. I'VE might as well
b. quite frank with one another. Mono
Dl us arr making money. We arc all lus-
ing money Competition has gone - far
that We aU al in sore straits, man
aging railroad properties that yield
nothing Ike what they naturally should
Yield Possibly some Of YOU may not
choose 10 admit thIs at present. but every
one ui us knows that what sIy tells what
nrs the exact facts. Aud how you Huu all
ready Co u,rav ihlt uus railway uilIln
arr 100 grave condition, and though YOU
may mot want openly iu gu ss lu us / do,
AMI agkuUNI,lgU that While WC ought oil
10 be- on high waves of prosperity bank
mp.y really staring must ol us in tho
! inrp. You aTH sU extremely anxious 10
| Hud a ruIUac anal ulirL We have Fut
a. dU something. All oi us f1c that Aud
I rly rtulilIy that ! bcC no hope .Hr IUt.
Ter conditions other than through this
clearing huusc plan AZ least I know ot
nothing ols1 with Eo much promise boz IL
believe we ought to try it'
The representative ui every company
present gave an Endorsement iH th' plan.
lh, Chicago. Rock Island a lu,Iig Was
the ffst ohirrtof mot
Today b. t1 ahuN how substantial these
objections are Nir b.H.Is friends be-
lrNc that Yesterday conference with
President Isb., will rsu.t no victory
in that quarter t.n. iur Mr. Gould