Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1890-12-20
NEW RAILWAY TRUST.
Meeting OF Trunk Line Presidents q
Settle Details of an Agreement Which
Is to Bind Together Vast Interests.

Meeting OF Trunk Line Presidents te
Settle Details of an Agreement which
Is to Bind Together Vast Interests.
New YORK, Dec, G.-The great con-
ference of railroad magnates began
Monday morning at the residence of j.
Pierrepont Morgan. About twenty per-
sons prominent in railroad circles we're
in attendance. Among them were Jay
Gould, c. p Huntington, Russell Sage,
j. j. McCoon, President Cable, of the
Rock Island road; President Hughett
OF the Chicago tS Northwestern; Vice
Presidents Sykes and w. c. Newman,
of the same road, and George NJ. Pull
man.
The morning session was devoted to a
discussion of the agreement, the, prin-
cipal topic being the proposed plan of
doing away with the expensive agencies
now maintained by the Western roads
in New York and other ci ties. Tho idea
is to contine the agents to the immedi-
ate territory of their several roads and
ness in distant fields.
Following is the full text OF the pre-
liminary agreement on which the new
association will be based:
1t Is proposed to form new association to
succeed the present several associations west
OF Chicago and st. Louis. The new association
is to embrace all tho roads west of St. Louis
and Chicago to the Pacific coast the new asso.
citation to continue not less than five years and
to have one general manager or comm issioner,
with such assistants MS may be agreed upon or
found necessary.
making OF through and competitive tariffs; the
management OF competitive business: the con.
duct of outside agencies for procuring it; the
routeng OF it over the respective roads of the
members OF the association in such amount,
manner and proportions as may be agreed upon
between the members of the association. A
sufficient guarantee shall be contained in the
agreement as to prevent rebates or deviations
from the regular rates.
During the period nnmed the members OF said
association shall desist from the construction
of any new railway lines that might compete IN
the territory or with the business OF another
member of the association.at least without
the consent of the other parties to be affected.
board of arbitration shall be named, to
whom all questions shall be finally re erred for
arbitration where the parties can not agree be-
tween themselves. All other associations now
covering the different parts of the territory
named shall be abolished or made subordinate
to the new association.
The selection of the commissioner and assist.
ants to manage this association shall be made
bv the presidents of the several roads compos'
ing the association. and shall require u two.
thirds vote of the members.
The association herein contemplated is to en-.
ter into an agreement with the Central Traffic
Association and the Trunk Line Association, in
such o manner that each association shall,
within its respective territory cooperate for
the mutual enjoyment OF the whole.
Any road in the territory of either OF these
associations that shall refuse to conform to the
rules of the parties thereto, or to become mem
bers OF the association shall be excluded from
all participation in the advantages of the asso
citation.
The resolutions adopted are binding
-,
the affirmative, 1t being understood that
the following three should be invited to
join: Chicago & Atlantic Railroad Com
pany, Missouri, Kansas Il Texas, Kan
sas City, Ft. Scott & Memphis.