The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1889-01-11
PRESIDENTS AGREE.
Bankers and Railroad Magnates Map
Out a Plan to Prevent the Cut
ting Of Rates in the Future,
A BIG CLEARING HOUSE.
No Commissions &, be Paid. While
the Bankers Pledge Themselves to
Float no Securities for Build.
ing Parallel Lines.


Of railroad ines west OF Chicago and St.
Louis, which lasted about three hours,
Charles Francis Adams, VIM. B. Strong
and Frank 5. Bond, who were appointed
committee at the last meeting 10 perfect a
plan OF organization and confer with the
Interstate commerce commission, submitted
report and plan. In the report the COM
mlttee says II has considered that In the
matter of traffic II was best TO adhere
strictly 10 the agreement known as the
agreement OF the presidents, They have
not sought TO extend the provisions Of that
agreement or introduce into the present
plan features likely Ia excite discussion.
They have sought 10 Introduce In the sim
plest possible form the machinery neces-
sary 10 secure al observance OF the inter
state commerce act and at the same time 10
make the agreement of Jan. | effective
In order To more effectually secure this re-
suit, II is proposed 10 form an association
OF presidents, 10 the end that
the highest officials OF the va
rious companies may be made
responsible one 10 another. The plan mp.
pears 10 be In its entirety very similar 10
that OF the proposed clearing house, which
created so much comment n short time ago.
IL is substantially as follows: The object
OF the association Is the enforcement OF the
provisions OF the Interstate commerce act
and the establishment and maintenance OF
public, reasonable, uniform and stable
rates In conformity with the provisions
thereof; also 20 secure complete reports Of
competitive traffic, subject to the provis-
ions OF the Interstate commerce act and
such other traffic as Is deemed advisable
The board of managers shall consist Of an
accredited representative from each com.
pany, the president OF which is member
OF the association. A rates committee, to
be appointed by the board Of managers for
freight ana passenger departments, shall
be constituted, whose province II shall be
% consider all the proposed changes In the
rates, rules and regulations OF traffic, sub
ject 10 the association. Their conclusions,
when unanimous, shall be made effective
when they so order; but II they differ the
question nj issue shall be referr,d 20 the
shall be arbitrated by the executive
board, as hereinafter provided. A
provision OF through rates is
provided for. One officer Of each company,
the president OF which is member of the
association, shall be held responsible for
the strict maintenance by his company OF
all rates and rules established by the ass0-
citation. The board of managers shall
hereafter establish such rules and regula-
ti0ns as II may seem expedient 10 limit
needless outlay and reckless striv-
Ing Tor business. through sep
arate agencies or the payment OF
commissions; or they may, II they deem
proper, totally abolish and forbid the same
In whole or In part, or cause Joint agencies
10 be established, the expense OF which
shall be paid by the association. The au-
ditor OF The association shall have authori-
~ TO examine and check any and all
accounts OF each company. No vouchers
or other form OF concession which would
charge established rates or influence the
routing OF business, shall be paid or allowed
without authority OF the executive board.
The comptrollers and general auditors
shall be Instructed by their respective
presidents to pass no way bills, expense
bills, claims or vouchers extended at rates
OF charges different from those duly au.
th0rlzed. Oflicers making reports 10 the
association shall certify 10 their correct
ness and may be examined under oath by
'hy w5sp rnasSs oos'a made To the executive
board that any provision Of the Interstate
commerce act has been violated, or any
rate, rule or regulation established by the
association dlsregarded, the accused shall
be given zen days In which To reply, and II
after investigation IL then should appear TO
the executive board, or the majority thereof,
that the charge Ia sustained, said executive
tion. real OF apparent, OF the provisions Of
the Interstate commerce act. forthwith
communicate It's finding, together with the
evidence In support thereof, to the Inter
state commerce commissioners for such
action as said commissioners may deem
proper. II such offense inyolyes
violation only OF the articles
Of this agreement, and does not Involve In
addition thereto any violation ~ the pro-
visions OF the Interstate commerce act, a
penalty shall be assessed Of not less than
$3.50 for each 0ffense. The presidents
agree among themselves 20 immediately
discharge ON the recommendation OF
the executive board any employe
guilty OF violation OF any Of the
provisions Of this agreement, and he shall
not be engaged or employed by any mem
Der OF the association except upon the ap-
pr0yal Of the executive board. The board
Of managers shall determine the territory
TO be covered by this agree
meet and the association shall,
on matters which particularly
lies In any given territory, be divided Into
sections by the board OF managers and for
the consideration OF subjects solely con
cerning such groups, separate meetings
shall be held. Statistical statements shall
be Issued weekly 10 members, In order 10
attest the sincerity Of the members, and 10
create fund upon which fines assessed
post and keep good In bank
10 be named by the managers 10 the credit
and subject 10 the draft Of the executive
board; not less than 81, 900 In any case, nor
more than s5, 600, a. may be- agreed, or as
the executive board shall determine. The
agreement OF the presidents, known as the
agreement Of Jan. 1, 1889, Is adopted as n
portion Of the articles OF the association.
In presenting the documents ON behalf Of
the committee Charles Francis Adams said
the report and plan Of organization have
been discussed with the Interstate commits
siOners In detail They were inclined 10
criticize II, and exposed the opinion that
the plan was a vast improvement on any
| knowledge. They suggested a few altera-
tions in il relating 10 the matter OF form
| and expression. but i'm no case substAn-
TALLY affecting the report All Of these
changes the committee had adopted. The