The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-01-14
RAILROAD NEWS.
Wheeling and Lake Erie and the Soft Coal
Business.


Wheeling and Lake Erie and the Soft Coal
Business.
New York, JAM 13-Tt was authori-
tatively stated to-day that representa-
tives of the soft coal roads will meet
in this city in a short time to decide
on a readjustment of the rates to put
the trade on an equitable basis and
stop the decentralization which has for
so long time affected the earning ca
pacity of the various lines, especially
those of the Wheeling and Lake Erie
and the Cleveland, Lorain and Wheel
ing.
The New York Evening Post says of
the subject: 1t is understood that six
of the seven lines will make no oppo-
sltlon to a restoration of rates. and the
action is likely to be taken without
extended discussion. An impression
now prevails that the Baltimore and
Ohio, so far as its traffic extends, will
modify it's present attitude, and other
smaller roads reaching bituminous coal
districts are said to be ready to cease
hostilitieS. What they have cost is
indicated by the fact that gross earn
ings OF the Cleveland, Lorain and
Wheeling from July to December 81
were only ESCAPES against $S96,3S1 in
the corresponding period in 1896 and
$179,032 in 1894; while the Wheeling and
Lake Erie, which is a close competitor
of the former line in the eastern Ohio
district, earned gross only $675,222 from
July l, 1896, to January 7, 1897 as COM
pared with S7S7,3S2 in the same period
last year, and $741 ,0S7 two years ago.
Agreements can only be reached by
combined action of the lines in the va
rious districts of Pennsylvania, West
Virginia, Ohio, Indiana and Illinois,
but favorable action is now said to be
assured in almost all these quarters.
The attitude of the Wheeling and Lake
Erie management is outlined with suf-
ficient emphasis in the following reso-
luton of the board of directors made
public to-day:
Resolved That the board of direc-
tors of the Wheeling and Lake Erie
Railway company do record its pro-
test against the unnecessary low rates
and prices which have been made for
the transportation and sale of btu
minous during the last year, the same
involving a great, and, as this board
believes, needless sacrifice of earnings,
and in many cases necessitating the
doing of business below cost; that this
board do call upon the several other
railroads engaged in the traffic to take
such steps as they lawfully may to re-
store bituminous coal rates and prices
to a fair and reasonable basis, and
that the president be and is hereby au-
thorized to present this resolution at
the next meeting of the Ohio Coal asso-
citation and the Ohio Coal Traffic asso-
citation; and that this company does
hereby declare it's readiness to join in
establishing a general supervisory
board or committee to prevent unnec-
essary cutting of established rates,
and to see that reasonable rates are
maintained
President Blair, of the Wheeling COM
pany arrived in this city to-day, and
is believed to have made much pro-
gress is assuring united action at the
coming meeting of the soft coal car
riers Meanwhile the rumors of a re-
ownership of this road were met with
! flat denials, and it was said that the
! attacks on the credit of the company
| which have been put out at intervals
for a year or more had b,en traced to
their sources, and would in future
cease to be a cause for embarrass-
| ment.