New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-12
FOR AND AGAINST A FUSION.
CHAUNCEY NJ. DEPEw AND G. p HUNTING.
TON.


THE FORMER OPPOSES, THE LATTER FAvoRs
EXTENSIVE UNIFIcATIoN OF RAILWAYS.
The disposition to set in circulation sensational
rumors OF pending large consolidation Of railway In
terests Is still unrestrained among the Western news
paper writers. The announcement In Tho chicago
Tribune Of the Incorporation, under the laws OF New
Jersey, OF "Thc Peoples Transportation Company"
to control and operate all the railway companies OF
the country, was news TO railroad men In this city
But 1t brought from Chicago telcgraphed interview
with Colonel John j. McCook, who, since his secre-
taryship at the house Of j. Pierpont Morgan when
the presidents agreement formed, has posed as
the hero OF railway unifcation.'
When Chauncey NJ Depew was asked yesterday re-
gardng the alleged Peoples Transportation Com
pany,' he replied jocularly When was in Chicago
recently, the railroad writer, who Is the greatest
novelist OF the West had consolidated all the roads
Of that city, created the board Of directors, ap
pointed all the officers, issued the stock and placed IL
on the market. compelled to demolish this fairy
story / had TO do with that about the Vanderbilt
consultations"
Mr. Depew then added emphatically with reference
TO the schemc 1t is not true and never can be-
Such company would be a railroad trust and nothing
else. and its establishment would mean disaster and
decentralization to all the railroad securities OF the
country. Any OF the combinations talked about at
times would arouse such hostility and invoke such
legislation that the popular sentiment would stop
is impossible
c. p. Huntington differs with Mr. Depew in his
view OF the possibilities of combination In reply to
Tribune reporter he said that while he did have
plan for unication Of railroad interests, yet 1t was
exactly in the form reported in the talk with Colo
mel McCook He added:
The interview says that my plan provided for the
formation Of a company under Connecticut charter,
but Of that part l know nothing However, do
favor step for combining railroads that great
many expenses be eliminated. Under the present
system there are a great number OF charges, com
missions, salaries, and on, which would have to
be paid under the proposed plan. For instance,
| heard OF one little town In Georgia where hve tckes
agents were employed, although the entire receipts at
that point were probably insufficient to pay their
salaries. Yet there five different roads, aud
each had to have representative
My plan does not attempt 10 solve the whole
question with single stroke. / have been engaged
In many enterprises in my time, and have always
found that If looked out for the little things, the
big things would less manage themselves.
II get some OF the roads united and the results
good why the process Of combination Will naturally
10 continued II you wanted 10 move mountain, you
could not do the whole job at one tmc but would
have to do 1t by shovefuls That Is the way 1t Is
about combining railroads. AS things are now 1t Is
newt able that there shall be inequalities In rates.
The who ships sixty of freight will get lower
rates IMAM Inc man VINO mas only one car " seu' anu
the latter afford to make the big effort 10 get
low figures that the former can. Besides, the com
petition in through rates is 50 sharp that railroads
arc compelled TO get as much a. possible for hauling
freight 10 intermediate points. In this way the p"0pc
suffer. II some unhcatOn OF railroads were ef-
fccted, stockholders would get fair return on their
money, even with rates low as they are now;
Something must be done, all the roads will eventu-
ally lie forced into bankruptcy. To show how much
lower rates are here than in the tricky settled
countries of Europe had to pay 800 recently for two
tickets and sleepers fIom FranBfort to Pars. This
is more than double what they would cost from New
York TO Buffalo, which is further know nothing
the meeting of railroad presidents TO be held in
New-YOrk next January to consider some plan OF
combinations and / don't think anybody else does
The interview with Colonel McCcok says that a
revision Of the plan of combination was made by
Edw ard d. Adams. of Wnsow Lanier q Co., but at
the of Mr. Adams the statement was authorized
that while he had some time ago urged the acceptance
Of several plans yet he had recently taken no more
steps in the matter.