The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-01


ing department in which he has proved
himself to be master Of detail. with
marked poise and executive ability.
1t gives us pleasure to note the adj
vance of this young man. since we feel
that we had some share in his discov-
cry: for he is n self-made man in every
respect. having begun his career as n
mere lad in the News and Observer Of
flee. We predict for him an early reap
ing from his able talents, and all his
friends in the Carolinas and elsewhere
will rejoice with us in the deserved con
fidence with which he seems to be es-
teemed by his superior officials.
A special dispatch to the Baltimore
Sun from New York says:
Quietly but surely there has been
built up by the financial giants who
control the trunk line railroads traffic
deal which will be able To get around the
law against pools and yet accomplish all
of the purposes of pool and enable
them to secure profitable rates to all of
the interested companies.
This big deal is being worked out ON
the lines mentioned some weeks ago,
when it was stated that three men
William X. Vanderbilt. J. Z. Morgan
and A. ]. Cassatt-had formed a plan
to control the entire territory east of
Chicago and st. Louis.
ut was acknowledged that this traffic
deal is about TO be put into operation,
and the fact that the b. and o. was to
be operated i'm harmony with Pennsyl-
vania and New York Central interests
gave rise to the report that the first
named company had been acquired by the
PENNSYLVANIA Railroad.
'Denials are made of the report that
the Baltimore and Ohio has been ac-
qu:red by either of its competitors, but
it is understood that the management
of the Baltimore and Ohio have reached
an understanding with the fnanciers WAC
control the Pennsylvania and Central to
handle all traffic impartially, and hence
forth not to permit any rate disturb
ances to interfere with them
1.-THE Erie, Delaware, Lackawamna
and Western. Ontario and Western,
Lehigh Valley, New Jersey Central and
Chesapeake and Ohio are all controlled
i'm the interest of Messrs. Morgan and
Vanderbilt, and there is no danger OF
disturbance from these companies.
rapid strides have been made i'll ar
ranging details of the big traffic deal
which to all intents and purposes is to be
a pool of most ironclad character, but
regulated by a coterie of financiers. not
by traffic officials.
Son january more than 90 per cent
of all the commodity tariffs will be abol
ished, and in addition there will be
some significant advances in freight
rates. ON that day there will also be
a reimbursement of the import business,
which will put an end to the disturb
ance of international rates, and prevent
steamship companies from demoralizing
the railroad rates.
after january the percentage now
carried by the several trunk lines will
be lived up to more strictly than ever
before. and all agents and traffic man
ayers will be held to strict account for
cutting rates These rules apply to
westbound freight business and for some
time agents have been working under
instructions not TO deviate from the eX-
listing tariffs on any account whatever.
Among the significant advances III
rates ON January II will be those ON
sugar and coffee, the former of which
constitutes one of the largest articles
Of freight shipped ont of New YORK. FoI
a long time the sugar men have been
credited with ability to secure fayors
from the railroads in the shape OF com
modify rates.
with the grain traffic, anthracite coal
traffic and canal and lake traffic already
umder the domination Of the trunk lines,
and with three or foIr fnanciers in
control of the entire trunk line situa-
ton, the way is now clear or regulating
all of the freight business of the East-
ern railroads.
THE mem who have this scheme in
hand foresee. possibly, efforts on the
part of the authorities to make trouble
and to charge them with VIOLATING the
antitrust law ON the ground of running
a pool They will hold that the traffic
association exists among the trunk lines
and they will defy the authorities to
find one.
Notices were sent out two days ago
that all Of the furniture i'll the rooms OF
the Joint Traffic Association. Al 143
Liberty street, would be sold. and the
iease Of the rooms, which runs until
May ], will be disposed of. After De
oefnber 81 all of the employees of the
association will have been dismissed
AS for the Trunk Line Association.
the president Of one of the railroads said
tonight that IL had ceased to act as an
association and handle any traffic mat-
ters and 1T is now nothing more than
a bureau.
"All sorts of deIials We're made in rail
road and financial circles today of the
stories published by a morlllg newspa-
per that Pennsylvania Railroad interests
have purchased control of the Baltimore
and Ohio system, and that Vanderbilt
interests have secured from j. Pierpont
Morgan the control of the Rig -Four
and Chesapeake and Ohio roads. That
traffic alliance between the New YORK
Central, Pennsylvania AMI Baltimore
and Ohio roads has been lrrangeo was
practically admitted.
William Salomon, chairman Of me
executive committee of the Baltimore
and Ohio Road, declared that he knew
absolutely nothing about the reported
change of control William Wolff, OF
Krehn, Loeb 81 CO., a member Of the
Baltimore and Ohio voting trust, said
4l,o4 ~. l-.nxx. of mo- fn1lndnt ON for The