The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-12-16
THE RAILWAY PRESIDENTS.
They Meet and Arrange for an Advisory Board
Everything Harmonious and Satisfactory.

They Meet and Arrange for an Advisory Board
Everything Harmonious and Satisfactory.
New YORK, Dec 15.-The long expected
meeting of representatives of western rail
way lines was held to-day at the house of
Banker Morgan. The following companies
were represented: The Chicago g. North
western; Chicago, Burlington g. Quincy;
Great Northern; Chicago, Rock Island s.
Pacific, and Iowa Central; Chicago, Mil
waukee & ST. Paul; Union Pacifin; Mis-
souri, Pacific; Atchison, Topeka 81 Santa
Fe; Wabash; Chicago, St. Paul and Kan
sas City; Illinois Central; Southern Pac-
fic: Denver 81 Rio Grande; Northern Paci-
fic and Rio Grande Western. Besides the
representatives of these companies, there
were present: j. Pierpont Morgan, Samuel
Spencer, john Crosby Browne, Howard
Potter and George G. 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 simple, comprehensive plan mad been
agreed to by the Vanderbilt and the Penn
sylvania lines for their mutual and com
petltlve interests and this was based upon
| uudb pan. he UduspF6DdrSQ IIlS ScleIlS,
which he proceeded to read
1t provides for the formation of new as
ISOLATION between the several companies
west of Chicago and st. Louis to be under
the management and direction of an adVis-
DRY board, to consist of the president and
one member of the board of directors OF
each company. 1t shall have power to es-
tabllsh and maintain uniform rates De-
tween competitive points and decide all
question OF common interest between mem
bers.
1t shah have entire charge of all outside
agencies for securing tariff al competitive
points. If any officer or representative oil
any company shall authorize, promise, di
rectly or Indirectly, any variation from the
established tariff shall be discharged.
The rates and policy adopted by the ad
versary bond shall continue in force and bt
binding until altered by the board. The
vote of at least four-ifths OF the member.
shall be required to make it's action binding
over all.
The board shall appoint proper arbitra
tors, commissioners and other representa-
tlves, and adopt bylaws to carry out tn,
purposes of the association.
No company shall withdraw from tn
association except after ninety days writ
ten notice by resolution of the board of di
rectors to every other member of To
dSSoCldIlOu, Win d prOEISO, however, INA
the association shat continue at least 81.
months from January next. This agree
ment is to be laid by each Representative
present before the board of directors of hi
company for action.
After long discussion, it was adopted
all voting in the Affirmative excepting tn
Chicago, Kansas City & St. Paul roa
which wished more time for consideration
The Chicago 81 Alton, Kansas City, For
Scott 81 Memphis, and Missouri, Kansa
& Texas will also be invited to join
President Miller, of the ST. Paul roat
was empowered to act as chairman of til
adjourned meeting with power to call th
, first meeting of the advisory board afte
receipt by him of Iati5es OF the action c
the several boards of directors.
The most perfect harmony prevailed {
the meeting and it was considered by a
r present that the action taken was gre;
: stride toward conservative ami effectiv
+ cooperation between all companies in al
ranging to vest absolute power in Oh
> body of men constituted as an. advisor
S board, which will be of g membership be-
e qualified to act for the interests of tt
\ companies and public. a great element
y conservation is the fact that I withdraw
can take place without the formal and d
liberate action of the board OF directors
q the company in question.