The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-06

prove interesting to quote MI. Huntington
md the late jay Gould on the subject. In
july. 1894. Messrs. Askew ana True. en-
ployes Of the railroad commission. founi In
minute books OF the Galveston, Houston
and Henderson Railway company a cor
Tract entered into between Messrs Hunting
Ton and Gould which had been ratified and
confirmed by the directors of said company
ana OF which they made a copy, which 4,
. now In the possession Of the comn.iss. o !.
said contract was confirmed In 1882. but up
to July. 1898 there was 10 eatry on the
minutes of the board OF directors of the Cal
weston. Houston and Henderson. indicating
that it was not at that time stili Ia force
and so far as the commission IA advised It
is at this date vet considered binding by the
parties concerned. The following is the text
OF the resolution confirming tn, contract:
Whereas. c. p. Huntington. acting on hi,
nwn behalf. on behalf OF his associates aud
on behalf OF the Southern Pacific Railroad
company OF California, the Southern Pac,nc
haiiroad company OF New Mexico
aud tho Southern Pacific Rail- old
company of Arizona, the Galveston.
Harrisburg and San Antonio Rail
road company, the Texas and New Or
leans Railroad company and the Louisiana
western Railroad company; and Jay Gould
acting in his own behalf. and on behalf OF
his associates and on behalf OF the Tefas
and Pacific Railroad company. the Inter
national and Great Northern Railroad com
pany. the Galveston. Houston and Hender-
son Railroad company. the Missouri Pacific
Railway company. the Missouri. Kansas and
Texas Railway company and the St Louis.
Iron Mountain and southern Railway COM
pany, heretofore on the 26th day OF No
vember. A. ID. 1881. entered into the follow
ing contract; and.
Whereas. 1t ia considered and believed
that said contract is Just. fair-and reason
able. and for the benefit and advantage of
this corporation: now therefore.
Resolved. That said contract be and the
same is hereby ratified and confirmed made
and declared to be the contract OF this cor
poration. so far as this corporation Is
party thereto and concerned therein.
Resolved. further That the president and
secretary be and they are hereby authorized
TO sign and countersisn said contract
respectively. and to affix thereto the corDor
ate seal of this company.
THE CONTRACT referred 10 contained
among other things the following mutual
agreement not to duplicate roads OF each
other:
H. is further mutually covenanted and
agreed by and between the nalties hereto
that while the running and pooling arrange,
luents and agreements herein are kent and
observed by the parties OF the hrsi part
the parties of the second part shall not
build promote. except throueh the ex
ecutive committee in the manner hereinattsr
provided. directly or indirectly. the baild-
ing OF any other parallel or through hoe
from the junction or any pcint west Thereon.
TO the Pacific ocean or to the tloai waters
thereof or any line duplicating in whole or
in part. or the building Of any line to con
meet with any other line SO as - dupii.
cate In whole or In part. the SAID line OF tas
said parties of the first part. and the parties
of the first part shall not build or promote.
except through the executive COMMITTEES, ~
the manner hereinafter provided, directly or
Indirectly. the building OF any foao west o,
the Miss sippi river which shall be paretisi
10 or duplicate in whole or In part the said
line or roads of the party OF the second part,
or the building of any line TO oonnsot VIZ
any other line SO as to luplicn.e III " wH ne
or in part the said lines or ROADS el tne
said party Of the second part
THE EXECUTIVE COMMITTEE hereinafter
provided" consisted Of Mr. Huntington MI
Gould land such third person as they may
select" The contract closed with the lol-
lowing provision for an exchange OF rat'l-
cation by companies:
Tho foregoing agreement shall be submit
ted by the respective parties tnere'o or ~ rao
tons which they respectively represent, auu
the same shall be accepted and adopteu,
ratified. confirmed, made and declared by
said several board of directors to be the act
and contract of their respective corporations,
SO far as the same severally anects them
respectively and thereupon each corpora
ton shall deliver each to each other cor
marathon certified copies of its proceedings
in the premises, signed by the president ana
countersigned by the secretary thereof, and
sealed with its corporate seal, ,wi'hin ihe
ninety days from the date hereof.
I'm testimony whereof the said parties
have hereunto set their hands, in the city
Ct New York in duplicate, on the day ana
year "'s' a'O' &c. P. Huntington.
"Jay Gould.
at is understood that when the said sew
eral companies shall have executed ana ex-
changed ratifications as aforesaid tue per
sonai undertakings of Mr.. Huntington and
MIR. Gould shall cease. c. p. Huntington.
Jay Gould,
THE SAID CONTRACT, ratified in the man
rer provided for by the several corpora
lions controlled by the parties thereto al the
lime II was signed--of which the Katy was
one-has been religiously observed 10 tnls
day in the matter OF the agreement not 10
build or promote parallel or competing llnes.
Notwithstanding its patent illegality' ana inc
consolidation bills vetoed by the governor
with the exception OF the Kaysee Did are
hut prayers for the ratification OF a number
Of grabs of lines promoted or acquired un-
der the terms OF said agreement further-
more il will be readily seen, by reauihg tne
agreement Furthermore, II VIII De leaeiy
seen, by reading the agreement, that Messrs
Gould and Huntington we're quite certain
that competition in the railroad business Is
not necessarily confined to parallel ROADS
as they were particular to bind one anotner
not to build any line TO connect with any
other line so as to duplicate in whole OF
ir part" the line or roads In which they
we're severally interested, aside from oind-
ing one another not to parallel SAID INES
And the conclusion is warranted that secure
N the enjoyment OF freedom from competition
in the transportation business by the terms
of this still observed agreement, MI Hun
tington is now reaching out for share Ia
cinch In the wharf business at Galveston
through a grant from the State OF rights
that will for long time to come delay the
Inauguration IF competitive wharyes at tnat
point. II might be, too, that, impressed
with the beauty OF his railroad competition
smothering scheme, the Galveston Wnari
company could be tempted into entering
With him into one OF the same character for
the suppression OF possible opposition in It's