Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1890-12-18
WESTERN RAILROADS
Meeting Of Magnatss at Morgan's
Residence, New York.
An AGREEMENT READ AND AGREED TO.
Signed By Fifteen OF the Interested Roads
The Meeting Entirely HArmoaious-
How Mutual Interests May he
6ubserved.

AoPkooouVobAfcA mcstiy prosl0eupA Oh
railroads west of Chicago and St. Louis
was held yesterday at the house Of ].
Pierrepont Morgan, the banker, 9l9
Madison avenue
The meeting was called for 1890
o'clock and for some time before that
hour and for time aftsrward brougham
after brougham, with fine horses,
coachmen and footmen, rolled up to the
door and from them slighted the rail-
road magnates who had been hidden to
the conference.
The meeting was presided over by
Mr.. Morgan and Samuel Spencer acted
as secretary. It lasted until { o'clock
in the afternoon.
The following companies were repre-
sented: Chicago & Northwestern, by
Marvin Hughitt president and W.
NICK. Twombly, vice-president; Chi
cagos Burlington & Quincy, by C z
Perkins, president and General Paine,
vice-president; Chicago Rock Island &
Pacific, by 2. R Cable, president; Chi
cago, Milwaukee & St Paul, by Roswell
Miller, president; Union Pacific by
Sidney Dillon, presidents Missouri Pa
cifo by Jay Gould, president; Atch-
ison, Topeka & Santa Fe, by Allen
Marvel, president and Colonel ].
]. McCook; Chicago St. Paul &
Kansas City, by J. N. Egan. presi-
dent and A. B Stickney, Illinois
Central, by Stuyvesant Fish, president;
Southern Pacific by C P. Huntington,
president and ]. C Stubs, vice. presi-
dent; Denver & Rio Grsnds. by George
Campbell, chairman Of the board Of d.
rectors; Northern Pacific, by T. f.
Oaks, president; Rio Grande Western,
by W. j. Palmer, president, and George
f. Peabody, director Great Northern,
by J. j. Hill, president and ]. Kennedy
Todd, director; the Iowa Central, by
Russell Sage, president The follow
ing gentlemen were also present: John
Crosby Brown and Howard Potter Of
Brown Bros. & Co., and George c Ma
goun Of Kidder, Peabody & Co.
The preliminary agreement as pub
lished yesterday and recently signed
by several Of the companies represent
ed, was presented by Mr.. Jay Gould and
read A general discussion then fol-
lowed as to the best means of carrying
out the objects sought to be accom-
plished by the meeting.
Mr.. Morgan stated that after long
consideration simple and comprehen-
siVe, and, to his mind, effective plan had
been agreed to by the Vanderbilt and
Pennsylvania lines for their mutual and
competitive interest and that based
upon that plan he had ventured to pre-
pare paper for the consideration of
this meeting, when he then proceeded
to read, as follows:
Resolved, That the presidents here assem-
bled agree to recommend to their respective
boards Of directors the passage Of the follow
ing resolution:
Whereas, It is to the benefit of the public
and OF the roads whose lines are situated
west of Chicago and ct. Louis that they shall
cooperate closely with each other in the
management Of their properties for the pur-
pose of securing uniform, reasonable and
stable sales for the rates pertaining, and
such economies in the operation Of the prop
critics for the better accommodation OF the
public as will insure favorable returns upon
the capital invested; therefore be IL
Resolved, First-That a new association
shall be formed between the companies
whose lines are situated west OF Chicago and
st. Louis or such Of them as may become, or
may hereafter be admitted, as members
thereof.
second-That the affairs of the association
shall be under the management and direc-
ton of an advisory board to consist Of the
president and one member of the board of
directors of each company.
Third-That the advisory board SO consti-
tuted shall have power to establish and
maintain uniform rates between competitive
49,
mon interest between the members of the
association. 1t shall also have entire charge
through properly constituted representa-
tives of all outside agencies for the securing
of trafric at competing points. II any of1cer
or representative of any company shall
authorize or promise directly or indirectly
any variation from established tariff he shall
be discharged from the service with the
reasons stated.
Fourth-The rates established and the pol
icy adopted by the advisory board at any
time shall continue in force and be binding
upon all companies comprising the associa-
ton until subsequent action of the board.
Fifth-The vote of at least four dfths of the
members of the association shall be required
to make its action binding upon all.
Sixth-That the advisory board shall ap-
point proper arbitrator, commissioners and
other representatives and adopt bylaws to
carry out the purposes of the association.
Seventh-That no company withdraw from
the association except after ninety DAYS
written notice by its directors to every other
Of the association, with the proylso,
that the association shall continue
for at least six months from January l, 1891.
Eighth-That under existing conditions il
is expedient for each company to put in OPP
Grafton the policy and plan indicated in the
as early as practicable.
Ninth-That the president and Mr.. -, one
of the directors of this company and thereby
appointed to be the representatives Of the
in such advisory board with full
power to act for this company in carrying
the foregoing preamble and resolution into
full effect.
The action proposed to be taken by
various boards as suggested above,
then became the subject of discussion
and, after long debate and considera-
ton, was finally adopted by all the cor
porations present voting in the aflrma-
tive and none in the negative. the Chi
cago, Kansas City & St Paul declining
to vote, desiring time for further con-
sideration.
The resolutions as adopted are bind
ing upon the fifteen companies voting
in the affirmative. it being understood
that the following three should be in
Vited to join: Chicago G. Alton, Kansas
City, Fort Scott & Memphis and Mis-
souri,, Kansas & Texas
Two Arkansas Towns.
LITTLE Rock, Ark, Dec 16-Two