New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-14
A pEACEMAElER NEEDED.
,o,rn CALLS FOR J. pIERroNr MORGAN.
- mas COME TO ORGANIZE A NEW In
rnssrlrp ooMsr'RI RAILWAY
.csom ALTON.


:. low N solve the controversies OF
~. r,jivays west Of Chicago 80 a. =" e"". .s.n
-" -. r,oatable and permanent rates mas oc'"
10 s0euo nv banlsers and railroad men TOT
unue' .''s The recent severe declines IN prices o'
'.ss h.v. en- aaectedtmany leading shareholaerS ~
49,, r.nccr roads that they are again calhs io
'ie 80 '..-.,or nj the power Of bankers that was
~,,a.d two wears ago in the formauoh Oh u''
rntorstate Commerce Railway Assocla.'on. nas
soc,.,,on was preceded by the so-ca'eu "uo"s
u,. The credit for which has lone been gwen
sn.,,t Morgan. Of Drexcl, Morgan & Co. There
- n.ard lona demands for Mr.. Morgan 10 tAhe
49, ,n,t.tivc in organizing new assocaton anu h'
=, aarstood 10 be consulting with fehow Dahhers
q. .he hest steps for bringing the western r'nroa'
presidents together. .or,,rerco M
Mr. Morgan's house in this city have been premature.
n &c even doubtful II such meeting VIII DC heo' ~
NAV he possible to accomplish the desired result WIN
49,. arch n gathering. Mr.. Morgan yesterday depre-
80, too ,rucb discussion of the subject at present,
,s president sykes of the Chicago and Northwestern
"a vice President Bond, Of the Chicago milwaukee,
and ST. Paul roads, both said that they Knew Oh ho
contemplated meeting, and did not expect any early
necal visit here Of the presidents OF their respective
companies. .
A meeting will be called for the first week IN
December at Chicago Of the executive officers OF the
North
associations for the purpose Of endeavong to advance
rates 10 remuneratve basis. II successful, TINS con-
terence NAV obviate the Necessity OF ntruding upon
Mr. Morgsn's hospitality here. There are many wall
street. men Who believe that purchases have been made
NJ stocks on the weeks break in values which anec'
changes In ownership that will help to harmonic inc
conflicting interests Out Of this belief grew the
r,,mors that Jay Gould in control OF the UNION
pacific II is conceded however. that more than such
transaction would be needed to rccstablsh the inter
state Association which is nOmnally existent, Due
without power to prevent the cutting OF rates.
Trunk line officers in discussing the prevailing
gossip admit that 1t would be reform II the western
r. ads adopted the suggestion of Aldace F. walker
chairman of the Interstate Railway Association, to
restrict or totally remove the power to make rates ron
the hands OF subordinate freight officials. IL Is pointed
ont however that even where the trunk line rates arc
changed only by the highest authority there frequently
exists secret manipulation, while high rates are nara
10 secure Even II the Western lines were 10 aoop'
the trunk line plan there would remain the onhcuty
Of keeping the weaker roads satisfied with the trc
they could obtain on stable tariffs The Federal la"
robbtinp pooling bars the adoption OF the old scheme
for preyentinC wars of rates. And even under the oid
trunk line pools 1t is a well known fact tha1 sohic VI
the greatest demor.zatons known In railroad history
we're experienced The situation West is further COM
pllcatcd by the enormous extensions OF th' srea'
vs.cms info territory that hiss its prosperity before it
The tomnorarv success of the Gcntlemen's Agree
mont, was due to the imperative Indignation OF large
.ccury holders and their banking advisers With Tho
irst relaxation of pressure from owners OF Western
railroad property the agreement was asrmp th "
rafiic combination secretly made between tne OmoI
pacdc and the Chicago and Northwestern roads loW
similar result of any new agreement can DC ,ho ~
will he a question to discuss Mt any meeting ehe %
railroad men or bankers both classes of men inter
| ested In the properties.