New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-28
no RESTORE FREIGHT RATES
IMPORTANT AGREEMENT OF RAILWAY
PRESIDENTS.
EXECUTIVE OFFICERS OF THE PRINCIPAL LINES
RESOLVE TO MAINTAIN THE TARIFFS NOW
AUTHORIZED BY THE JOINT COMMITTEE
A DINNER GIVEN FOR THEM BY
j. PIERPONT MORGAN.

A
j. PIEEPoNT MORGAN.
By an agreement signed yesterday by the
presidents and chief executive officers Of the
railroads in the Trunk Line and Central Traffic
associations, peace has been declared and the
war in freight rates which has been waging
and Threatening 10 extend TO all the territory
covered by the two great railroad associations
IS expected 10 end. Yesterdays meeting
fully attended by representatives of all the lines.
II was held in the rooms of the Trunk Line
Association in the Jersey Central Building. in
Iiberty-st. The Trunk Line Association roads
were represented by George Roberts. presi-
dent Of the Pennsylvania Railroad. who.
chairman Of the Board of Presidents Of the
Trunk Line Association. presided; Chauncey NJ.
Depew, president of the New-YorlS Central; f.
Z Thomas. president Cf the Erie; l.. L. Wilbur,
president of the Iehigh Valley: Joseph 5. Har-
rts president Of the Philadelphia and Reading;
c. F. Mayer. president of the Baltimore and
Ohio: w 5. Sloan. second vice-pies dent of the
Delaware Lackawanna and Western: j. d.
Laying. general manager Of the West Shore:
j. E. Childs general manager Of the New-lork.
Ontario and Western. and j. Lowrey Bell gen
eral traffic manager Of the Central Railroad OF
NewJersey
Representing the Central Traffic Association
there were In attendance :. r. Galloway. presi
dent of the Nickel Plate: ID. w. Caldwell. presi-
dent Of the Lake Shore and Michigan Southern;
G.. NJ Hays vice-presidont and general manager
of the Wabash: II. B. Ledyard. president Of
the Michigan Central: Edward T. Bacon. presi-
dent Of the Baltimore and Ohio Southwestern;
l.. j. Sergeant. general manager Of the Grand
Trunk Railroad. who is also president OF the
Chicago and Grand Trunk. ana VI. +. Ingalls,,
president of the Big -Four. who is also presid"n.
Of the Chesapeake and Ohio Railroed ara as
such yesterday became "A member of the Board of
Presidents of the Trunk Line Association. his
road joining the assoclatiCA.
IN SESSION LONG TINE.
The meeting convened early in the day and.
with a short intermission for luncheon lasted
until late in the afternoon. Tno discussior. CEN
tired around casibound and westoound freight
rates and there was considerable fvely debate
The meeting had been brought ab > by the ac-
ton Of the Chicago committee Of the initial cast
bound lines out Of Chicago authorizing cui OF
five cents on fifth and sixth class irelsht - 'ah1
effect yesterday, in order TO meet the puDllshed
reduced rates on the same classes made Oy lhe
Chicago ana Grand Trunk. the Lake Shore ana
the Erie railroads These cuts lad brought
down the rate on 100 pounds Of min class iresht
ont of Chicago eastward 10 % cents, and on
sixth class freight IL 20 cents. while grain rates
had been cut 10 IL cents
THE RESOLUTION ADOPTED.
The final result Of the extended discussion was
a personal agreement by he presidents TO re-
store and hereafter to maintain both easibound
and westbound freight rates The agreement
was put in the form of the following resolution
which was signed by all the presidents and chief
executive officers:
chief executive officers of tns eompar.es To are
sened at This meeting p,Srse ishes isTs Of east
bound and wesibound freight rates on an classes %
un,ii ten days after written notice is given tne
Commissioner OF the Trunk Line or Central Iraic @
ihe agreemeDt and further any contracts at rates
below the authorized tarif shall be on OF before
This resolution to be continued IN ehect so ,ons
as is Of ny s shall ss be
y by the Commissioners on comp'@ain, am me Contracts
shall be made BY our lines which VIII prevent
the operation Of the foregoing resoiution, ana We
tnraSr agree 10 place signatures 10 TINS rcsoIu-
.ereps , f,irher evidence Of intent to faith
fully observe its condluoHs'
The Messenger situation was also discussed at
the meeting. and the westbound passenger agree
rnent adopted last month was signed by some oi
The roads whose signatures mad not previously
heen affixed 10 it. This agreement Is on the same
lines az The eastbound agreement which went
into effect in January, and has proved sa'isia9
tory The westbound agreement VII De inAde
lucrative IN day or two. oi Just as soon d,
Commssoner Goddard Of me Trunk ines, ana
Commssioner Blanchard Of the CehIai - ''i''0
Association can confer as 10 its ue'd-'S'
ENTERTAINED BY MR.. MORGAN
The presidents adjourned to dine last h'e"' ."
,ba invitation If J. Pierp0nt Morgan a' '"e
Metropolitan Club. Mr.. Morgan's hrst lh'e"''o"
wss n invite the presidents TO dine on MS ya'n'
the corsair. Last nights dinner was e"'"e'
soc,a, IN character The presidents hau o0"-
rletea At their formal meeting In the ai'e'"oo'''
!, a most satisfactory way. the DusI,.Vs' ,tr
which they had come together ~ tniH ~ roads
Wnrcan's large Interests In number OF lhe 'onu 3
r,sa',ed a. the meeting It is probable ma!
eomething TO do with the Satisfactory 's''S "