St. Paul daily globe., 1891-05-05
jay GETS TALKATIVE.
Predicts Nothing But Har-
mony in the Western As
sociatiOn,
And Insists That Better Times
Are Surely Coming
Soon.
The Alton May Raise a Dis
turbanee at the Meeting
To-Day.
A Blind Pool on East-Bound
Freight Is Being Talk
ed of.

NEWt ORk. May 4.-Jay GOuIQ sat III
his office in the Western Union build
ing this afternoon and talked to the
Suns representative about some mat
ters which are of great interest to the
financial and railroad worlds.
81 think" said Mr.. Giould, "that the
meeting of the Western Traffic associa-
ton on Wednesday will be an entirely
harmonious one. | have heard of no
railroads whose action is apt to be of
different character. think that the as
sociation will be productive of great
good
'Do you not think" he was asked,
THAT before great results can come
from the association it will be neces-
sary to start it Oh new lines-such, for
instance, as the establishment of joint
agencies for the handling of COM
petitive buSinesS?"
"It will not be necessary" said Mr..
Gould ''Io start the. ASSOCIATION anew in
order o accomplish this. In fact,
(guardedlyl | think it quite possible that
the very point OF joint agencies will he
very seriously considered at WedneS-
days meeting. The association should
prove powerful influence for good.
and the effect of its future actions
should be strong. You remember that
when it was formed it caused turn in
the tide. 1t undoubtedly averted a
panic. The interstate commerce COM
mission has declared pooling illegal;
that is, the division of money after it
has been earned. Indeed, there was
grave question among railroad men as
to the legality of this. The partition
ing of traffic is different matter. and
the courts have already decided the
principle to be legal one in some
what analogous case, the case of an eX-
press company making contract with
a railroad far the transaction of its bus
mess. These joint agencies would be
independent. The head of each one
would apportlOn off the business
equally to the roads concerned.
don't see how any trouble could arise
through the payment of unlawful COM
missions by certain railroads. In our
Southwestern association we had no
trouble of that kind. Weekly state
ments would be submitted by each
agency to the various roads showing
each ones share of business. There
would be no inducement to cut rates. I
the stock market arises from the eX-
ports of gold, which have caused
tightness in the money market. My
trip to the West made me feel very
hopeful. | found the crops in fine
condition and the people generally en-
cOuraged. 1 have not sold any stocks,
and all the securities | hold are inven-
tored very much higher. Instead of
beinga seller | have been quite all eX-
tensiye buyer, and at no previous time
in twelve months have held So much
stock as | now possess. | have added
to my holdings especially of Missouri
Pacific and have not sold anything. 1t
is long time to wait until Dec. 81, and
it is impossible to say whether we shall
have active money this year, but money
will be comparatively easy until late in
the fall, and even then we may not eX-
perience the slightest Stringency, eSpe-
cIallY if Europe buys our breadstutfs,
and there are more than reasonable
prospects that it will. | feel convinced
that matters are on the mend. and re-
peatm belief that the present is not
simply bull movement, but the year
will be bull one"
President Marvin Hughitt, of the Chi
cago IL Northwestern railway, speaking
on the same subject. said: There will
sOciation. The meeting of Wednesday
will, | think, be a serious disappoint-
ment to all who have harbored the be-
lief that chaotic condition of affairs
WeuId result from the conference. The
railroad companies are a unit on the
question of maintaining rates and doing
business on sound basis. The Mis-
souri, Pacific matter will not lead to any
disturbance. Everything will turn out
very peacefully"
Albert Keep, chairman of the Chi
cagO u northwestern, who will be at
Wednesdays meeting of the Western
Traffic association. takes most hope
full view of existing conditions. He
said: There is no reason TO expect
any disturbance; there will be nothing
but good feeling, think"
President Sidney Dillon, of the Union
Pacific, says that he looks for most
harmonious meeting on "Wednesday. and
he thinks there will be a full attend
ance.
Mr COppell, chairman of the Denver
d Rio Giande road, is of the opinion
that the meeting of the advisory board
OF the Western Traffic association will
be entirely harmonious. The different
companies seem satisfied, and it is evil
dent that the people of the country
served by the railroads are awake to
the fact that it is to their interest pri-
marily that the railroads must live. The
fate OF all adverse threatened legisla-
ton is the best evidence that the peo-
pie, shippers and receivers are in ac-
cord With the railroads; and though
there is ability to do more business vet
there is no cutting of rates, and conse-
quently all customers are being treated
pH