New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-08
WHAT MR.. DEPEW SAW.
AN INTERESTING ACCOUNT OF HIS WESTERN
TRIP
cLEAR-cUT IMPRESSIONS OF MEN AND tNsT1'
TUTIoNs IN THE wEsr-BUdNEss. POLL
TICS. PLEASURE AND PATRIOTISM.


TuTToSs IN THE wEsT-BUsdSEss. POLL
TICS, PLEASURE AND PATRIOTISM.
Chauncey ". Depcw got home yesterday morn
ing from Western trip, on which he combined
business and speecrmaking with his usual ver-
satiity. Besides taking part In two importans
railroad meetings he addressed two vast audi
ences one on that hillside at Galena, Ill, where
the new Grant statue stands the other In the
fashionable opera-house Of Cincinnati. With all
this. he found time to look in on that famous
club at Chicago which calls itself the White
chapel' and holds it's uncanny revels in sub
terranean chamber of horrors. Mr. Depew never
fails to bring back from his trips the results OF
keen observation Of men and affairs, ana ne
presented to Tribune reporter the gleanings OF
this Journey in the following fashion:
Il left New-York for the purpose of attending
the annual meeting of the stockholders OF the
Chicago and Northwestern Railway Company ana
the election of the board Of directors, as DO
every year. This election took place on the 4th-
The committee having in charge the exercises
at the unyeiling of the Grant statue at Gaiena
fixed the date for the Sd, so that L could attena
without losing any time, and deliver the oration'
H. was also necessary for me TO be present at the
meeting of the directors Of the Big -Four, az
Cincinnati on the 5th. Mr.. Nj. +. Ingalls, the
president of the Big Four, who IS deeply nteres'eo
in educational and art matters in CINCINNATI
arranged public meeting Of the alumni Oh tho
University at Pixies Opera House for the even
ing of the 5th, and set me down lor 'ne az
dress. which had to prepare on the cars 80 una"
two efforts one patriotic and one literary "ers
attached to the ordinary course OF busihess'
THE LAITY ARE THE MORE LIBERAL
ave passed through Detroit on the day OK
the adjournment of the Presbyterian Assembly,
The acute question, not only there. out every
where in the West, was the one which had oeen
decided by such large majority against III
Rrioos The fact that Dr. Brggss case, the
charges against the Rev. DR.. Heber Newton, and
the election of Phillips Brooks for Bishop, with
the onposition developed, all came together con-
fused the public mind apparently, so that the lay
men drew very little distinction between them.
In talking and hearing the talk OF very many
people deeply interested in such matters the facS
was developed that the laity as rule care
nothing whatever about the critical aspecs OF
theology.
"Doctrinal differences, which were so promi-
nent in times past and were SO we'll STUDIED ana
understood, no longer interest the pews. lnis
is not only true among members OF the same Church
but sectarian anmosities have almost entlrey
aisonnaared among members Of different churches.
There seemed to be very strong and pronounced
sentiment against pursuing any theologian WIN
church censure or trial for heresy unless ne waA
so radically wrong upon the essentials Oh one
Caristian faith that his teachings were tantac
mount to O denial of God or the divinity OF
Christ.
THE OPPOSITION MYSTERY.
"No one seemed to understand the grounds OF
the opposition to Phillips Brooks Admiration
l.
finished of American pulpit orators were UNIVERSAL
and the opinion was equally universally expressed
that the opposition to him was survival in our
times. under different conditions. OF the Middle
Aces sentiment which always suspected genius ana
acquirement of heresy.
1T is pretty long jump from Church to rail-
roads, but then / travelled very FAST! Every
hod,, in Chicago wanted to know about the SOUL
less corporation and the railway prospects.
found the railway men unanimous in their beilet
that the fall business would be better than IL mas
been for several years, and would SO continue
during the winter The difference between thc
Rocl, Island and the Northwest statements, one
coming on the 81 of the month and the other on
the 4th is vigorous commentary upon TWO op-
nosite theories of railway management Not SO
MANY years ago the roads west Of Chicago were
entirely free from the liquidating processes in
and the seaboard for the past ten years, and which
have reduced the rates on the trunk lines about
80 per cent in that period.
DIFFERENCES OF MANAGEMENT.
"The Western managers argued that the Mid.
die States were settled, but that the territory
through which they ran had not yet filled up
with population, nor had its resources been at all
developed, so that the growth of business from
these sources would prevent their being com
pelled to meet the conditions which had so radi-
cally changed the affairs Of the Eastern roads.
Several of the Western lines and among them
the Rock Island and the Northwestern more con-
snicuously. were earning at that time nearly, IL
NOT ouite. double the amount of their regular
Dividends II was the idea of the
management Of the Northwestern that there
was danger at least that the Eastern experience
might extend west of Chicago therefore 1t was best
in time of prosperity to provide for such an
emergency So all the earnings above the regular
dividends of per cent upon the preferred ana
q upon the common stock were put into tho
road in the place of borrowing money for better
ments and equipment In this way many millions
of dollars which were required to produce new
rolling stock and miles of side-tracks and double
tracks and connections were taken from the net
earnings for that purpose, so that when the
liouidating process attacked the systems west OF
Chicago the Northwestern was able TO hold its
own and it's statement for the year shows that
it earned it's dividends, and though it was of.
fected with the others, proportionatey, the loss
in the business had only affected a surplus over
and above the dividends.
THE COUNTRY WILL RESPOND.
1.-The Rock Island, the contrary, capitalized its
earning power, with the result that when it had
20 face present conditions its loss of net earnings
forced the reduction of dividends which has been
so disappointing TO it's stockholders. IL is to DO
said, however, for the managers who adopted this
policy that unless there is over-building of rail-
roads in the West the natural growth OF the
country will give volume of business sufficient
10 cause a constant increase of earnings, upon
present low rates and il Is thoroughly understood
among railroad men that agreements between COM
peting lines for maintenance of rates will be moro
closely adhered to in the future than they have