Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-01-11
To Maintain Rates.
AN IMPORTANT AGREEMENT REACHED AT TIL
MEETING OF RAILROAD PREsIpENrs

AN IMPORTANT AGREEMENT REACHED AT THE
MEETING OF RAILROAD PRESIDENTS
Over three hundred millions of capital were
represented at the second meeting of western
railroad presidents and bankers in New York
yesterday. The committee of three appointed
at the last meeting to perfect plan of organi-
cation reported by President Adams, that all
the parties interested desired the strict enforce
ment of the provisions of the interstate-com-
merce act, and that in all matters of traffic it
was best to strictly adhere to the agreement
known as the agreement of presidents of LIST
January, 1899" To accomplish this, thew pro-
pose an executive organization and the princi-
pie Of arbitration for settlement OF all difficult
ties. 1t is proposed that an association of pres
idents be formed, that the highest officials of
the various companies may be made RESPONSE
BILE and held to a more strict account
The plan for an interstate-commerce rail-
way association" is to secure the establishment
and maintenance of public. uniform, and stable
rates, and to secure complete reports of all
competitive traffic. One officer of each COM
pany shall be held responsible for the strict
maintenance OF all rates. The board of man.
ayers shall have power, if they think fit, to
totally abolish the payments of commissions
When it is alleged that any provision of the
interstate-commerce act has been violated or
that any rate, rule, or regulation established
by the association has been violated, the COM
pany accused shall have ten days within which
to reply. If the charges are sustained, the re-
port will be either communicated to the inter-
state-commerce commission, or penalty shall
be assessed on the company so offending of not
less than $3.50.
The presidents agree among themselves to
Immediately discharge any employee guilty of
a violation, and he shall not afterward be en-
gagged or employed by any member of the as
ISOLATION except upon the approval in writing
of the executive board. The presidents
agreement Of January i, 1889. which provides
against rebates and the carrying out of pre-
viously existing obligations, is included in the
plan. Provision is made to secure to each
company its due share of competitive traffic.
The agreement shall continue in force abso-
lutely for sixty days from January 10, 1889.
Any party can withdraw subsequently on Civ
ing thirty days notice.
Mr.. Adams made the following verbal re-
port of what took place at the interview with
Messrs. Cooley, Walker and Morrison, of the
interstate commerce commission: THE report
and plan Of organization as now to be sub
mitted was read and discussed The commits
sioners expressed decided opinion that the
plan was a vast Improvement on anything vet
proposed, and they suggested few alterations,
All of the changes your committee at once
adopted"
After a general discussion, in which the
trunk line presidents participated resolution
was passed approving the proposed plan of the
organization. The trunk line presidents pres
ent passed separate resolution also APPROX
ing the scheme.