The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-10-15
is NOT SATISFACTORY
Il ROADS NOT PLEASED WITH THE
PRESIDENTS AGREEMENT.
Heavy Easf-Bound Shipments from
Chfcngo-Brice Syndicate Schemfng
to Secure a Line Into Cleveland.

adjournment Of the meeting OF the presi-
dents which preceded the one Of last Thurs
day that the president Of a prominent trunk
line was opposed to the agreement as re-
ported by the first committee. 1t is now
stated that President Roberts, of the Penn
~sylvania. Is the one who was dissatisfied
with some OF it's features. and that he was
supported by General Manager Sergeant,
OF the Grand Trunk Their objections. it is
said. related to the administrative features.
Both took the ground that the provisions
were too stringent-"unnecessarily harsh,'
as Mr.. Roberts put 1t. So far as can be
learned the other presidents were in agree
ment. and wished 10 adopt the plan as pre-
sented by the special on Thurs
day. The amendment reported by the COM
mittee on revision gave the directors au-
thority to impose such fines as they may
deem suitable for violation OF the agree
ment;'' and instead Of paying 21s per cent.
Of the gross receipts from association traf-
nc each company was TO pay l per cent.
and to forfeit whatever balance might be
TO its credit in case OF withdrawal before
ended. II is understood that President
Roberts objected to this amendment and
also to the character Of the governing
this latter objection is not definitely known.
IL Is supposed that Mr.. Roberts is anxious
10 have the Pennsylvania Company we'll
represented in the board OF directors and
Tat his purpose in blocking the progress
or the agreement IS to accomplish this by
delay.
regard 10 the new agreement:
Il think that we have arrived at a sat
isfactory and just agreement. 1t is prac-
tically the same that was entered into last
summer, with certain notifications. Ii was
said that the agreement OF last summer
was in some respects an attack on and in
UIaI4-f0n NJ Thn nr0Tar0 70 ann1T N lou
That difficulty was settled by sundry
amendments which were adopted at this
meeting. The one thing that l think has
been accomplished by this agreement TO
maintain rates is a perfect understanding
that will put an end to rate discrimination.
When Decentralization of freight rates exists
the big shippers are bound to get the ben
eft OF It. They can ship their goods at a
less cost In a ratio than the small shipper
can ship his little amount for. Such a con-
dition of affairs drives all business interests
into gigantic trusts. 1t has the tendency TO
tear down small concerns and build up big
ones. II detracts from small cities and
adds to large ones 1t centralizes capital
and the total effect is bad. I think that a
condition OF affairs has now been arrived
at where every shipper will be charged
equally"
An Alleged Vanderbilt scheme.
Ever since the famous traffic contract
was made between the Union Pacific and
the Chicago & Northwestern railroads,
hht t(aAto thC Al6lt W
dictate the through rates from the West
to Chicago. and the latter the through
rates from Chicago to points on the Union
Pacific west TO Omaha" says the Chicago
Tribune. "rumors have been current. that
the vanderbilts would sooner or later Sc
cure full control of the Union Pacific prop
erty. A plan for the reorganization OF the
Union Pacific is now in course OF prepara-
ton. and the preliminary steps already ia
ken indicate beyond a doubt that when the
Union Pacific gets out of the hands OF re-
ceivers IL will be controlled and operated
by the Chicago & Northwestern. which is
one OF the Vanderbilt roads. The reorgan-
ization committee, which has just been an
nounced, has among its members Chauncey
VI. Depew, president of the New York Gen.
trail. and Marvin Hughitt. president OF the
ieutenants of the vanderbilts will no
doubt be able to control the other men,
presidents of trust companies holding
Union Pacific securities. 1t is believed the
vanderbilts now hold a majority OF the
Gould held a controlling interest in the
Union Pacific, and this, II Is said, has been
absorbed by the Vanderbilts. A deal is
Gould and the yanderbilts. whereby the
former Is TO be given control OF the Kansas
Pacific; which Is to be operated by the Mis-
main line OF the Union Pacific from Omaha
west and make Ii a part OF the Chicago *
northwestern system. The vanderbilts
have no use Tor the Kansas Pacific, as they
have no line to Kansas City TO connect
with IL, and, besides. the main line OF the
Union Pacific from Omaha will give them
an outlet TO Denver via the Julesburg cut
on With the Union Pacific in control Of
the Chicago & Northwestern. the latter
will have a direct and independent line
from Chicago through to Ogden and Salt
Lake, with a branch line 10 Denver. Should
the Vanderbilts also be able to keep the
Oregon Short Line In the Union Pacific.
they will have independent ines from New
York through 10 Portland. Ore. The most
startling rumor which has lately gained
currency IL that the Vanderbilts look still
further than the acquisition of the Union
Pacific and the Oregon Short Line. Their
great aim and object is said 10 be the con-
troll Of a line through TO San Francisco.
and 20 gain this end they are now negotiate
Ing with c. p. Huntington with a view of
securing control OF the Central Pacific
branch OF the Southern Pacific"
Brfce'a Latest Scheme.