Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-16
EAST OF TEE ROCKIES.
Steps Taken for The Relief Of the
aonsy SaTks'.
RAILWAY PRESIDENTS MEETING.
Bill Introduced to Incorporate the
Pan-American Transporta-
ton Company.
ESPECIAL DISPATCHES TO THE RECORD Us1os.l
RAILWAY PRESIDENTS MEETING
SPECIAL DISPATCHES TO THE REconD-uMos.
RAILROAD CIRCLES.
Meeting IF Presidents of the Various
Western Railroads,

Western Railroads..
NEW YORK, December 15th.-The long ex-
pected meeting. Of representatives of Western
railroads was held to day at the houseo OF banker
Morgan. The following companies were repie-
sented: The Chicago and Northwestern, Chi.
eago, Burlington and Quincy. Chicago, Rock
Island and Pacific, Chicago, Milwaukee and st.
Paul, Union Pacific, Missouri Pacific, Atchison,
Topeka and Santa Fe, Wabash, Chicago, ST.
Paul and Kansas City, Illinois Central Southern
Pacific Denver and Rio Grande, Northern Pa
cifc, Rio Grande Western, Great Northern and
Iowa Central. Besides the representatives of
these companies there were present ]. Pierpont
Morgan, Samuel Spencer, John Crosby Browne,
Howard Potter. snd George G. Magown.
The preliminary, agreement, which has
already been published, was presented by Jay
Gould and read.
After some discussion Morgan said that after
long consideration simple but comprehensive
plan had been agreed to by the Vanderbilt and
Pennsylvania lines, for their mutual competi-
tive interests, and based on the plan he had
prepared q scheme which he proceeded TO read.
1t provides for the formation of new essocia-
ton between the several companies west of Chi
cego and st. Louis TO be under the management
and direction CT an Advisory Board, 10 consist
OF the President and one member of the Board
OF Directors OF each company. II shall have
power and maintain uniform rates between the
| competitive points, and decide all questions of
common interest to the members l. shall have
entire charge of al outside agencies for secCr-
ing traffic at competitive points. If any officer
or representative OF sny company shah author
tion from the established tariff, he shall be dis
charged. The rates and policy adopted by an
Advisory Board shall continue in force and be
| binding until altered by the Board. A vote OF
at least foar-fiiths of the members shall be re-
| quired to make its action binding upon ALL
The Board shall appoint proper arbitrators,
commissioners and other representatives, and
| adopt bylaws 10 carry out the purposes OF the
| Association.
No company shall withdraw from the Asso
| citation except after ninety days written no.
l no hy tGsn nf ha I'd nf .nrc
| to every other member of the Association, with
| a proviso however that the Association shall
| continue at least six months from January
| next.
This agreement will be laid by each repre-
| sentative present before the Board of Directors
| of his company for action.
After q long discussion it was adopted al
| voting in the Affirmative except the Chicago
Kansas City and 81. Paul which wished more
| time for consideration. The Chicsgo, Alton
| Kansas City, Fort scott Memphis and Missouri
and Kansas and Texas will also be invited Il
| join
President Miller, of the st. Paul road wa
empowered 10 act as Chairman of an Adjourned
| meeting, with power to call the first meeting o
the Advisory Board after receipt by him o
| notice of action OF the several Boards of Di
rectors.
The most perfect harmony prevailed at th
nee ing, and il was considered by all presen
that the action was great stride towards con
| servatiye and effective cooperation between al
the companies il arranging to vest absOlut
power in one body of men, constituted as an Ad
visory Board, which will be of membershi
best qualified to act for the interests OF the com
panies and the public.
| The great element OF conservatism is the fac
| that no withdrawal can take place withou
formal and deliberate action of the Board c
Directors OF the company in question.