The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-12-16
THE RAILROADS ALL AGREE.
Jay GouId's Plan Of Cooperation Ac-
cepted by Western Presidents.


Jay GouId's Plan of Cooperation Ac-
cepted by Western Presidents.
New York, Dec. 15.-The long-expected
meeting of representatives of Western rail-
roads was held today at the house of Banker
Morgan. The following companies were
represented: Chicago Il Northwestern,
Chicago, Burlington 81 Quincy, Chicago,
Rock Island & Pacific, Chicago, Milwaukee
& st. Paul, Union Pacific, Missouri
Pacific, Atchison, Topeka & Santa Fe,
Wabash, Chicago, ST. Paul & Kansas City,
Illinois Central, Southern PACING, Denver
d Rio Grande, Northern Pacific, Rio
Grande Western, Great Northern, and
Iowa Central. Besides representatives of
these companies, there were present ].
Pierpont Morgan, Samuel Sheber, John
Crosby Brown, Howard Butler and
George C. Magoun.
The preliminary agreement, which has
already been published, was presented by
Jay Gould and read. After some discus
sion Morgan said that after long considera-
ton a simple but comprehensive plan had
been agreed to by Vanderbilt and the Penn
sylvania lines for their mutual and compe-
tive interests, and based upon that plan he
had prepared a scheme, which he proceeded
to read. 1t provides for the formation of a
new association between the several COM
panies west of Chicago and st. Louis, to be
under the management and direction of an
advisory board to consist of the president
and one member of the board of directors
of each company. 1t shall have power to
establish and maintain uniform rates be-
tween competitive points and decide
all questions of common interest be-
tween members. 1t shall have entire
charge of all outside agencies for securing
traffic at competitive points. If any officer
or representative of any company shall
authorize or promise, directly or indirectly,
any variation from the established tariff,
he shall be discharged The rates and
policy adopted by the advisory board shall
continue in force and be binding until
altered by the board, and the vote of at
least four-fifths of the members shall be
required to make its action binding upon
all. The board shall appoint proper arbi-
traitors, commissioners and other repre-
sentatives and adopt bylaws to carry out
the purposes of the association. No COM
pany shall Withdraw from the association
except after ninety days written
notice by resolution of the board of direct
ors to every other member of the
association, with the proviso, however,
that the association shall continue at least
six months from January next. This
agreement shall be laid by each of the
representatives present before the board of
directors of his company for action. After
long discussion it was adopted, all voting
in the affirmative except the Chicago,
Kansas City & ST. Paul, which wished
more time for consideration. The Chicago
q Alton, Kansas City, Fort Scott & Men,
phis, and Missouri, Kansas d Texas win
also be invited to join. President Miller,
of the st. Paul road, was empowered to
act as chairman of the adjourned meeting,
with power to call the first meeting of the
advisory board after receipt by him of
notices of action Of the several boards of
directors.
The most perfect harmony prevailed at
the meeting, and it was considered by all
present that the action taken was great
stride toward effective cooperation be-
tween all the companies. A great element
of conservatism is the fact that no with
drawals can take place without formal and
deliberate action of the board of directors
of the COMPANY in question.