New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-19
OFF FOR THE PACIFIC COAST.
MR.. VANDERBILT AND MR.. DEPEW
TO START WEST TOMORROW
AFTERNOON.

THE LATTER DENIES THE RuMoRs THAT THE
vANDERBILTs ARE TRYING TO GET CON-
troll OF THE UNION PACIFIC AND
SAYS THE TRIP IS FOR REcREA-
TIoN-SENATOR PETTIGREws
RESOLUTION DISCUSSED.
Cornelius Vanderbilt and Chauncey NJ. Depew
will start for the Pacific Coast IN a private car
tomorrow afternoon. With them will go John
Hone, jr., broker. at No. "a Wal-st, and
Colonel George r. Fearing. Of Newport No
route OF travel has been determined upon. and
only little Of the detail Of the trip has been de-
clded. The sudden departure of Cornelius Van
derbilt the executive head Of the great Wander
bit system OF railroads. iCr the Pacific Coast
will be OF interest to railroad men all over the
country. That he will be accompanied BY
Chauncey NJ Depew, president OF the New-York
Central Railroad and counsellor for the Wander
bits, is considered significant by some In the
light OF recent rumors concerning the reported
desire OF the Vanderbts to secure control or
OF the Pacific railroads in order to gain
them a through line to the Coast.
The rumors that the vanderbilts are after a
Pacific railroad have been most persistent. The
first intmation Of Mr.. Depew's trip to the Pa
cihc Coast came about week ago, when dis
patches received In this city from San Fran
cisco said that Daniel Mccoy. Of the New
York Central Railroad, was on the Pacific Coast
inspecting the Central Pacific properties He
was there so the dispatch declared, as the
agent OF the Vanderbilts, so that the officials
OF this system could act with accurate knowl-
edge In case the Government should decree a
sale Of any Of the Pacific roads in which It is
Interested. The additional info rma ton was con-
tained in the dispatch that Mr.. Depew would
be In the West within month. When Mr..
Depew was asked about the report. he admitted
that he was going West. but added that it was a
pie assure trip. The movements of this party.
however in the llgh, OF these rumors, will be
watched with interest.
TO RETURN ABOUT APRIL IS
The travellers expect 10 reach New-York upon
their return about April l5 When Mr.. Depew
was asked about the object OF the trip he said
1T is one for health and recreation solely We
want 10 the Pacific Coast and get a good
outing" Mr. Depew In reply to n question about
the rumors that the Vanderbilts We're trying t.
get control of the Union Pacific. to give them
direct transcontinental iine said: There Is ABB
solutely no truth in IT, We now have satisfac-
tory outlets for traffic West without assuming
any liabilities. The only thing that are in
tcrested In is that the Union Pacific should be In
good condition 10 compete with the other lines
running TO the Coast. without assuming any re-
sponsbility The Chicago and Northwestern road
is perhaps the largest feeder that the Union
Pacific has Without the Chicago and North
western the Union Pacific would be in bad shape
for through trani,. AS the Chicago and North
western relies on the Union Pacific TO get It's
through traffic to the Coast. naturally we are
interested in seeing that the line can compete
vnh the Santa Fe the Northern Pacific and
other lines which are contendng f1r traffic. My
position "a a member Of the Reorganization Com
mi,t-e of the Union Pacific means nothing more
than that I am trying TO keep the line on
solid working basis to promote it's efficiency
and rs far as possible protect the people who
have invested their money In It's construction.
Including the Government The Vanderbts
have no idea desire - absorb this road. which
is manifcstly in bad shape"
Mr. Depew. speaking further Of the condition
~ Pacific railroads referred to the Union Pacific.
the Central Pacific and others. He said, in ex-
planning the financial difficulties Of these roads:
THE trouble IS there arc too many lines TO the
Pacih- Coast When the Union Pacific was first
built and the company could charge a heavy
tariff per mile for tonnage. then the road was
able 10 pay on the Investment. but now change
has been made. The Union Pacific has many
competitors for through traffic There Is the
Great Northern then the Northern Pacific, the
Santa Fe and the Southern Pacific. That means
five competing roads through TO the Coast with
the competition came the usual reduction IN
traffic rates The result was that the business
by distribution not only diminished. Dut
rates ais, went tumbng. and the roads
were unable to pay dividends. The through
tranlc s not now sufficient to maintain all roads.
a ,ho Hlc Ia moi vet
support the roads by making up the deficiency
LITTLE LOCAL BUSINESS.
"rhere are now growing up between the Pacific
Coast and the Eastern States number OF states
and Territories There arc the States OF Idaho.
Wyoming Nebraska. the Dakotas and others
These States are not yet in a thckly populated
condition and the business has not yet reached
great proportions. and there Is but little local
business for the roads In years to come these
undeveioped districts VIII be filled up and towns
along the road will grow. This will give to the
roads heavy local trfilc which will do much to
help them nay upon the original investment
The rates for traffic are low now and they have
fallen more rapidly than the business mas IN
creased That is what is the matter with 'he
Rock Island that Is what is wrong with the
Baltimore pnd Ohio. and that Is what Is the mat
ter with most OF the roads that have falen OH
In earnings When first came to the New
York Central thirty years ago, we were able TO
charge ~ cents mile per ton. Now we receive
75-l00ths OF cent per mile per ton This Is only an
example OF the way freight rates dropped. ana
while there Is a heavy local traffic for Eastern
roads there Is no such return FOR those western
roads which have to depend almost entirely on
through traffic and with the number OF roads IN
existence the amount OF through traffic Is in
adequate to keep them going. The business now
Is just about right to keep two roads In good con-
dlton."
Mr.. Depew. when asked what would be the
outcome Of this condition Of affairs. replied that
Il was problematcal Referring to Senator Pet
tgrew ard his resolution providing for fore