New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-28
THE RAILROAD SITUATION.
LAWYERS FOR ROADS. IL THE JoiNT TRAFFIC
ASSOCIATION TO MET TUESDAY.

,,vvvrps r-op ROADS IN THE JOI%T TRAFFIC
ASSOCIATION TO MET TUESDAY
Thero are many railroad managers and holders OF
railroad securities who take the view that oven Il
the traffic associatlons are not kept up disastrous
rate wars may be avoided. II Is not yet conceded
tina. the United States Supreme Court decision IN
the Transmissouri Freight Association case makes
Il lmposs,ble for railroads hereafter to agree upon
rates and provide meth for Sc curng their main
tenance For one thing. Il H. By no means settled
that the Joint Traffic Association VIII have 10 go
out of existence under the Transmssouri decision
which is now the law of the land. There are ca
pable LAWYERS who insist that tho dooisoA does not
apply 10 the Joint Traffic Association There are
some associations which are CONSTRUCTED on the
same lines as the Transmssourl. and they VIII
have 10 dissolve but they may be reorganZed.
The reports from Chicago % a wholesale collapse
of traffic associations and OF preparations Tor who!e
sale warfare among the railroads are not enttleu 10
much consideration Chicago has been smashing
railroad associations for a long time. and it cannot
restrain Itself now that decision has been rendered
which appears to demolish the associations To he
sure several of the Western roads have Withdrawn
as a Formally from the associations TO which they
belonged but they practically remain members, and
they are all anxious 10 prevent generalization IN
rates.
The LAWYERS for the railroads In the Joint TraHlc
Association will have meeting on Tuesday. ana
there Is some reason to believe that they will dis
cover a way to continue this and other traffic asso-
Citations ard yet comply with the law as laid down
I'm the Transmissouri decision Strenuous EFFORTS
will be made to prevent recurrence OF the fear
fully costly rate wars of the past.
An officer Of a Western railroad who Is In New
York said: "If people want 10 know what great
railroad war they have only 10 go back 10 the
period shortly after the passage OF the Interstate
Commerce law when the roads between chicago
and ST Paul and in that section generally had one
of the most violent and destructive rate wars ever
seen In few months they made peace but II you
will look I'D the records of that particular war, as
collected at that time by paper, think II was
THE Chronicle" you Will see that twenty-five ROADS
lost S9OOoOOO or else II was twenty roads mat
lost S2500OCO in net earnings as result OF that
war forget which way 1t was. but either VIII 90
II took quite long time for these roads 70 get DacK
into their normal place a. regards net earnings
4 man of whom IL said that his only crime.
EXPRESSED himself thus: Of course, it Is very wrong
for the railroad companies 10 try 10 MAINTAIN rates
Every body that the railroad business IN the
country ia the last few years has been enormously
profitable. About one-third Of the railroad mileage
has been operated by receivers. and the average
earnings OF the roads the stock capital nave been
some hing less than per cent. The supreme court
decides that this Is much, and that the people
who hold tho securities of the weaker roads should
simply be invited 10 see thef investments "ipeu