Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-12-16

O'Clock yesterday in J. Pierpont Morgan's
residence, 2l9 Madison avenue At that
hour there were present representatives of
all the roads that agreed to respond to the
call, but no representative of the Chicago
and Alton: nor were the Vanderbilt lines
represented before the meeting. Among
those present were Jay Gould, Marion
Hughitt, Roswell Miller, Sidney Dillon.
Stuyvesant Fish, C. P. Huntington, and
many other prominent railway men and
bankers.
A Scheme Agreed Upon.
The meeting adjo urned shortly after 4
p. M, and a few hours later the official re-
port of proceedings was given out j.
Pierpont Morgan was made chairman and
Samuel Spencer secretary Sixteen rail-
ways were represented, including nearly
all the big lines After some preliminary
discussion Morgan presented plan based
on the one agreed to between the Wander
bits and the Pennsylvania railway, which
was adopted by fifteen of the companies
represented at the meeting, the Chicago,
Kansas City and st. Paul declining to
vote
reatures Oh the Scneme.
The paper read by the Mr. Morgan begins
with resolution TO the effect that the
Presidents present at the meeting agree
10 recommend to their boards of directors
ttn adoption of series of resolutions de-
claring that it is to the benefit OF all con-
cerned that the lines interested should
cooperate closely with the view of secur-
ing uniform, reasonable, and stable rules;
should be formed, including those lines
situated west of Chicago.
Management of the Association.
The aforesaid association is to be man
aged by an advisory board, to consist of
the president and one member of the board
OF. directors of each company; that the adj
visory board SO constituted shall have the
power to establish and maintain uniform
rates between competitive points, and to
decide all questions of common interest
between the members of the association. It
shall also have entire charge, through
properly constituted members, of all out
side agencies for the securing of traffic ut
competitive points, If any officer or rep
resentative of any company shall author
ize or promise, directly or indirectly. any
variation from established tariffs he shall
be discharged from the service.
Duration of Established Rates
The rates established and the policy
adopted by the advisory board at any time
snail continue in force and be binding
upon all companies comprising the asso-
citation until altered by subsequent action
OF the board; a vote of at least four-ffths
OF the association shall be required to
make Itsaction binding upon all; the adj
visory board shall appoint proper arbitra-
tors, commissioners and other representa-
tlves and adopt bylaws to carry out the
purposes of this association.
Condition of Withdrawal.
No company shall withdraw from the
association except after ninety days writ
ten notice to every other member of the
association, with the proviso, however,
that this association shall continue at least
Six months from Jan. 1, 1891.
THAT the president and Mr.. - of
the board of directors of this company. be
and they are hereby appointed to be the
representatives, of this company in such
advisory board, with full power to act for
this company in carrying the foregoing
preamble and resolution into full effect
Nearly Unanimously Adopted.
The action proposed to be taken by the
various boards as suggested above, then
became the subject of discussion, ard after
long debate and consideration, was finally
adopted by all the corporations present
voting IN the affirmative and none in the
negative, the Chicago, Kansas City and
st. Paul declining to vote, desiring time
for further consideration. The resolutions
as adopted are binding upon the fifteen
companies voting in the affirmative it be-
ing understood that the following three
should be invited to join: Chicago and
Atlantic Railroad company, Missouri
Kansas and Texas, Kansas City, Fort
Scott and Memphis.
Roswell Miller for President.
A resolution was then adopted providing
that Roswell Miller, president of the Chi
cago, Milwaukee and st. Paul Railroad
company, should act as chairman of the
adjourned meeting, with power to call the
first meeting of the advisory board after
the receipt by him of notices of the action
OF the several boards OF directors upon
the foregoing resolutions, such notices to
be sent to him at Chicago; that it is the
sense OF this meeting that the boards of
several directors be called together to act
upon the resolutions above adopted ON or
before Jan. ], 1891
They Think the Plan VIII Work.
The most perfect harmony prevailed at
the meeting, and it was considered by all
present that the action taken was great
stride towards securing conservative and
effective cooperation between all the conn
panies in arranging to vest absolute power
in one body of mon constituted as the ad
visory board will be, and acting with full
authority for all companies members of the
association. Such body better than any
other can be sslied upon to act under all
circumstances with deliberation in the In.
terest of the public, as well as the rail.
rf,aaa