Morning journal and courier., 1889-01-11
BANKERS AED PRESIDENTS Of Railroads Meet and 0Rer ResoIu-
 tiOns.

Of Railroads Meet and 0Rer ResoIu-
 tfOns.
 NEW YokK, Jan. 10.-The meeting of the bankers and the presidents of railroad lines west of Chicago and St. Louis, took place this morning at the house of MT. J. Pier pont Morgan. The committee appointed at the last meeting te perfect plan of organi- zation and to confer with the inter State commerce commission, submitted its report embracing plan of action. The report of the committee was unanimously accepted and the committee was discharged. After 8 general discussion, in which the trunk lines presidents participated, the following reso- lution was unanimously passed:
 Resolved, That the fundamental prinei- ples upon which the plan reported is based commerce law and the arbitration of all diff feIences between companies be and they are hereby approved and will be adhered to in perfecting the proposed organization.
 Mir. Depew offered the following resolution which was seconded by MT. Roberts and unanimously adopted:
 Resolved, That We are heartily in favor of the strict enforcement of the interstate commerce act of the maintenance of reason able rates, the principle of arbitration and the formation of an association to enforce these objects under the general scope of the report of the committee of the presidents of the western roads and that the trunk line presidents should meet at the earliest possible date to form an association to carry these purposes into effect.
 The following was agreed to by all present excepting MT. Cable of the Chicago, Rock Is- land and Pacific railroad, who objected to voting until his competitors, not present, could be heard.
 Resolved, That the payment of any sum oi money by railway company to the officers or agents of another railway, either in the form of salary or commission to influence passenger business subversive of discipline and breach of commercial propriety is here by disapproved.
 Resolved, That the payment to persons moi exclusively in railway service of commissions for the sale of tickets fosters discrimination disturbs established rates and is therefore disapproved.
 The meeting then adjourned to meet agair at o'clock for the purpose of taking up, dis. cussing and perfecting the proposed plan. The plan of organization reported at the morning session was considered by section this afternoon and certain amendments none of which affected the general features o1 the scheme, were recommended for sdop ton and ordered to be engrossed ready fol signature. A committee was also appointed to obtain signatures of the various compa. nies not represented at the meeting. The meeting then adjourned to meet at Chicago on the call of the chairman.
 A review of the points of the plan for an Interstate Commerce Railway association follows:
 The object is to secure the establishment and maintenance of public, uniform and stable rates and to obtain completer ports for all competitive traffic. The duties of fhn rofo fa1 hxvk k1n hoa arC of managers shall be to consider all proposed changes in rate. When the report is unani nous it shall be forthwith acted upon, but in the event of disagreement the matter vii be referred back to the board of managers fol ! arbitration. Through rates shall bs arranged in such a manner that the bidding for business by means of private concessions ! shall cease. One officer of each company ! shall be held responsible for the strict main ! tenance of sll rates. The board of manager | shall have power if they fit to totally sbolist ! the payment of commissions. The auditor O. \ the association shall have authority to exam \ inc and check the various station accounts When 1t is alleged that any provision of thu ! inter State commerce act has been violated ! or any rate, rule or regulation established b, \ the association has been violated, the com psny accused shall have ten days within \ which to reply. If the charges are sus tained the report will be either eommuni \ cateO to the luter -OtblS cORmerC cOmmlSslOl
 or a penalty of not less than $250, 900 shal
 be assessed on the company so offending The presidents agree among themselves t
 immediately discharge any employe guilty o
 a violation and he shall not afterwards b
 engaged or employed by any member of th
 association except upon the approval in writ ing of the executive board. Statements shal
 be issued weekly to the members of the asso I citation interested therein.
 The Presidents agreement of January l
 1889, which provides against rebates and tn
 carrying out of previously existing obliga
 tions, is included in the plan. Provision i
 made to secure to each company its share c ! traffic by means of the executive board. Th | agreements shall continue in force absolutel
 sixty days from January 10, 1899. Any part
 can withdraw subsequently, on giving thirt
 days notice.