New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-17
TO TAKE PROMPT ACTION.
DIRECTORS OF WESTERN RAILROADS to
MEET
THE MORGAN AGREEMENT DIscussED-rAvoR.
ABLE COMMENT on IT.


agreement, adopted at the house of j. Pierpont
Morgan Monday, before their boards of di.
rectors. That it will be favorable in the case
of fifteen roads whose presidents voted for the
Morgan resolution is generally conceded. To-day
meetings will be held of the directors Of the
Chicago Rock Island and Pacific the Chicago
and Northwestern and the Illinois Central. The
Atchison directors will meet in Boston Satur.
day. The date of the Union Pacific meeting has
not been decided upon The Chicago, Milwaukee
and ST. Paul directors will hold their regular
meeting the day after Christmas and the resolu-
tion of agreement will not be taken up until
that time. There is little doubt that before the
New Year all the boards of the companies interested
will have acted upon the proposed union, so az
to enable Chairman Roswell Miller TO call meet
ing of the Advisory Board early in January.
Important work lies before the Advisory Board.
II has yet TO arrange the detail provisions for
arbitrstlng differences, distributing traffic as
to protect weaker lines and controlling competing
agencies for soliciting freight and passenger traffic.
This work is believed by railway men to present
insuperable difficulties, now that the roads
have reached substantial agreement for the
taking of the rate-making power out of the hands
of subordinate officers
BEST PLAN YET TRIED.
Ono of the leading Western presidents, upon
whom will devOlve important duties at an early
dav. said Yesterday THE agreement is the best
and strongest that the Western roads have ever
adopted The vital point is that it places the
ratc-naking power in the hands of a central body.
my self will not he able to change rate Another
immense gain is that any action he taken
by four-ffths vote of the Advisory Board Az
present it IS in the power Of man one
road to make trouble. Under the plan proposed.
,ha h.
Kansas City does not come in, there will bs
fifteen roads acting unit in the determine
tion of Western questions. Granting even that
only ten twelve roads adopt the plan through
their directors, that will be an immense gain to
the situation II reduces the number Of indcpen-
dent factors TO be dealt with. When the Ad-
yiSory Board is organized it will possess the
power - make provisions for arbitration or for
the regulation OF traffic as stringent may he.
The agreement is fully as strong Mr.. Gouds
proposition, which presented, but not dis
cusscd. at Mondays meeting"
j. Pierpont Morgan said emphatically: 81 am
thoroughly satisfied with the results accomplished.
The public has not Yet appreciated the magnitude
of the work. Think of it-all the competitive
traffic of the roads west of Chicago and st. Louis
placed in the control of about thirty men. II is
the most important agreement made ny the rail-
roads in long time, and it is as strong as could
he desired.
Samuel Spencer sa d There is general graft
Gcation ~ the outcome of the meeting. The closer
the agreement is studied the stronger it vii! bs
seen 10 be.
Mr.. sTIcKNEY's pIsTRrsT.
The fact was developed yesterday that there had
been one ripple in the equanimity OF Mondays
meeting. A. b. Stickncy, formerly pres lent, but
now chairman, of the Chicago st. Louis and Kan
sas City. complained considerably OF the futility
of frequent previous railway agreements. and
finally said earnestly: u have the utmost respect
for you. Gentlemen. individually, but as railroad
presidents ! wouldn't trust you with my watch
out of my sight" The effect of Mr.. Stickneys
warm remarks was partially broken by the
castle inquiry quickly made by President Oakes
Of the Northern Pacific: Have YOU reached that
opinion recently. MIR >ticsney, or did you enter
tain it when You president? The danger
OF any further trouble was allayed by Jay Gould
telling the following anecdote:
At one time after the panic of 1857 Daniel Drew
happened into an old Methodist church in John
convert was telling how sinful he had been lying.
chcatn, and robhlr- mcn of their money in Wall
Street He was amazed that salvation could come
10 such villain rs lac had been. Danl" Drew
got greatly interested IN the recital, and finally.
nudsing nciShbor. he whispered:
Who is he. any how"
That's Daniel Drew, was the reply.
uTHHiWISE HARMONIOUS.
The railway presidents say that this episode
was the only one to mar the harmony Of the
mcring. Mr. Stckn"y remained till the con-
ference WIS ended. when. MAS published he
a,;cd leave tor further consideration before vot-
Ing. He left the city yesterday. frcn1 Of his
said in his behalf that he not opposed 10 an
equitable arrangement foI maintaining rates, and
his position at Mondays meeting has been eAag.
.cratcd. Mr.. Stickncy Objects Ia the Morgan
agreement because the roads are 10 he bound
by any plan that Is arranged by the ADVISORY
Board. which i> Yet 10 be constituted. lie thinks
this would place the operation OF his road prac-
tically in the lai7-s of his competitors. and Mr..
Ntckucy docs not propose to 60 hlindfolded into
any arrangement of that sort 1t the Advisory
Board agrees upon A scheme that is just and equit-
able. he will no; he ackward in bringing his road
into it, The attitude OF Mr. Stickncy. il is said
generally by the railroad men who voted for the
Morgan resolution will not prevent the carrying
out of the ideas il is founded npon.
Marvin Hughtt. president of the Chicago and
Northwestern Railroad was seen yesterday at his
Office at No .. N1ll-st. In reply to an inquiry
as to why Mr.. Gould's plan had been rejected at
the meeting OF the railroad presidents on Mon
day Mr.. llughitt replied
The plan adopted met with unanimous ap-
proval. and was supported by Mr. Gould himself
No one went there with pet scheme. and tlse
general desire was to adopt that which wouo
produce the most complete results. This agree
mrnt ccntmli2es the responsibility for rates and
the maintenance of traffic where i, belongs. in
Il nS,l ,t NJ
road The plan has its advantages and disad-
yantages and the balance of the two together
with a consideration of public opinion. will de-
tcrmnc It's continuance. | wish you would
emphasize this fact-that the public service will
he better look for great improvement to fol-
low as the result of this meeting
no HOSTILITY FEARED
Mr. lIughtt said he did not consider MI
Stickneys action as necessarily indicative OF