The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-07-10
THE RAILROAD SITUATION
TIE POSSIBILITIES OF FURTHER
COMBINATIONS OFIMPORTlNCE.

: Its Result in Prompting the New York
Central to Acquire the Boston and
Albany.
The leading New York dailies still see
both possibilities and probabilities Of
J more consultations of railroads in the
near future, and of closer business rela-
tions between the two great American
systems, the New York Central and the
Pennsylvania. The latter theory is sus-
tanned both by the necessities of the
case and the wisdom Of the policy of
having such bearings. Chauncey M.
DepeW, chairman of the board of direc-
tors of the Vanderbilt system, said:
The absorption of the Lake Shore and
the Michigan Central, the Nickel Plate
and the West shore was simply the fol-
lowing out Of a policy that promised
better things for the roads. The trial
has proved the wisdom of the under
taking. The absorption of the Boston
and Albany was the logical result Of
traffic conditions in New England. For
ty per cent. of our through traffic goes
to New England. When the New York
New Haven and Hartford road secured
control of the New England our only
outlet into New England was with the
Boston and Albany, and we only retain
ed that by the closest kind Of traffic
agreement Then there was always the
possibility of that road falling into 9TH
er hands, and thus we would have no
way into New England except through
arrangement with competing line. In
! self-defence, therefore, it was necessary
| to get Boston terminal and a line into
| New England. 1t was a good bargain
| for both sides. 1t gives us what we
need in New England, and at the same
time it guarantees to the Boston and
Albany stockholders just what the road
has earned and is capable of earning,
''As for the consolidation of the New
York Central and the Pennsylvania that
in the very nature of things is impossi- !
Bile. These two great lines always have !
been and always will be keen conpeti- |
tors for traffic. a perfectly cordial I'M |
derstanding exists between the two lines
and we hope will continue to do SO. 1t .
prevents disqualification of rates, keeps
each keyed up to give the best possible
service, and healthy competition be-
tween them serves the best interests of
the public. The lines can never combine
owing to the widely divergent interests
and conditions The cordial relations
between the two, however, is perfectly
logical and the best thing for everyone
the public the stockholders of the
roads and the lines themselves
The New York Tribune of yesterday
speaking of the New York, New Haver
~ pnIa
the New York Central and Pennsylya-
MIA asserts that it is only a matter of
time when the New Haven road will go
to the New York Central AS to the
New York Central and Pennsylvania
understanding that paper says as fol-
lows;
Observation-Disclosures.
AGREEMENT.
From an official of the Vanderbilt sys-
ter the exact nature of the understand
ing between the Pennsylvania and the
New York Central has been learned,
This agreement provides, 1t is said, that
there shall be no cutting Of freight or
passenger rates by either line, and
each shall use its influence to have rates
maintained by other trunk lines. This
will be a great help to the railroad man
ayers, as it will enable them to earn
money and pay dividends without a
hard struggle to keep atloat, The agree
ment is said to have been the result of
Mr. Vanderblt's work. He became con-
WINGED, it is said, after a thorough study
of the situation that if the Pennsylva
mia and Central would agree to main t
tain rates they could hold the others to ,
In Iac fpl1r % I
ting has been general, and even the t
Joint Traffic association was unable to
remedy the evil. Mr.. Vanderbilt felt, it [
is Understood, that if the Joint Traffic q
association could not secure relief, if the c
and New York Central c
Withdrew and went it alone, they could c
control the conditions. The Pennsylva- t
MIA fell in with Mr.. Vanderbilts sug- b
gestion, and it is said that actual oper- o
,tion has proved the wisdom of the COM f
pact. a
NEW HAVEN ROADS DIRECTORS. p
The board of directors of the New f
York New Haven and Hartford Rail- f
Dad company met Saturday afternoon z
# the companys offices in the Grand c
Central station 1t was the regular
monthly meeting, and it was said that b
nothing beyond the usual routine bust W
less came before it. If there was any s.
discussion regarding railway consolida- T
ion matters, the fact was not made tt
public. a
Said a well known New Havener yes p
arday: From the tenor of the state OF
1ents in the New York papers it be-
ONES evident that the far-reaching and l..
ar-sighted policy of President Clark c.
f the Consolidated road in extending b.
is railroad system by acquiring the az
lew York and New England road tr
pened the eyes Of the New York Cen
raj people, and that move prompted
ne steps which have resulted in the
cqurement by the New York Central D
f the BOSTON and Albany, The New
ork Central men themselves saw that
18th such an aggressive and able rail- CT
lad man as Mr., Clark they had got to p
sstir themselves or run great risk of H
citing left as far as obtaining the con- gr
ol of a New England line to Boston pl
as concerned. MIR. Clark is entitled By
great praise for his enterprise and
lsh. By acquiring the New England II,
rad the Consolidated acquired wharf wi
I'd dock privileges and rights in Bos- ST
n that were and are of immense value ag
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