New-York tribune., 1900-01-19
FITCHBURG LEASE HELD UP
GOVERNOR CRANE PRACTICALLY We
TOES PROPOSED ACTION.


Boston, Jan 1S-From statements made to-
day by President E D. Goldman, of the Fitch
burg Railroad. Robert Goldman, the senior di-
rector and Joseph B. Russell. one of the Ex-
ecutive Committee, 1t appears that the Fitchburg
Railroad will not be leased to the Boston and
Maine, owing to the opposition of the directors
representing the State of Massachusetts. which
holds S5000000 worth of Fitchburg stock.
President Goldman said to-day:
I understand by the Governors letter sent
yesterday. that he leaves to the State directors
the responsibility Of representing the Common
wealth in disposng of the lease in the Board,
reserving to the Governor and Council, however.
the right TO vote the lease If it should be
approved by the Board and submitted to the
stockholders. The Governor is satisfied to have
a negative action, If taken by the Board, stand
without revision. While / cannot anticipate the
formal action Of the Board of Directors, think
# impossible, in view of the position taken py
the Governor that the Board would go con-
trary to a negative conclusion of the state
directors should they announce that Tor the
State.
Robert Goldman, the senior director, said:
think that under ordinary circumstances we
should not have favored the proposition OF the
Boston and Maine Railroad, but in view or the
peril TO property in case the Legislature
should approve the Boston and Albany lease,
our stockholder directors were almost unani-
n1ously in favor Of the lease to the Boston and
Maine. At our recent meeting were informed
by the State directors that after full conference
with the Governor they had decided TO vote
against this lease We very reluctant to
antagonize the State directors, and besides this
we are aware that with the vote of the Com
monwealth against the measure at the STOCK
holders meeting IT would be impossible that the
lease could be ratified, except possibly by bare
majority which we should have much depre-
Gated.
Joseph B. Russell. one of the Executive Com
mittee Of the Fitchburg, expressed his views as
follows:
nd aS a director
senting the stockholders of the road, do favor
st. and believe all the directors elected by the
stockholders favor il, with the exception, per-
haps, OF DR.. Webb, whose feelings in the matter
are easily understood by those familiar with the
situation. In my opinion. the earning power OF
the Fitchburg Railroad Company and its useful
and efficiency TO the merchants OF Boston
and to New England generally are seriously
naenaced by the lease of the Boston and Albany
Railroad Company to the New-York Central,
now pending before the Legislature.
am astonished at the position taken by the
state directors as within about two weeks, at
an informal session of the Executive Commit
tee and the State directors the latter gave their
unqualified approval TO leasing the road upon
the same terms to the New-York Central
I cannot say how the matter will turn out, as
it rests with the State directors. The stockhold-
ers and directors certainly will not, in my Opin-
ion, vote for the lease against the wishes of the
Governor and Council, and will assume that the
State directors represent their views They sim
ply will do all in their power to prevent injury
TO their road from the pending Boston and AL
bany lease.
BIG PASSENGER POOL CONTEMPLATED.
PLANNED TO CARRY OUT THE TI-CoMMussIoN
AGREEMENT
Chicago Jan 1s-The Tribune tomorrow will
say that in order to carry their anti-commsson
agreement it is proposed to combine all the
railroads in the country in big passenger pool and
operate It in such way that each road will get
an agreed percentage of the earnings. BY such
ton no possible profit to any of the
roads from ignoring the agreement Each road is
20 be allowed to carry all the passengers it can
secure but any road that should manage to get |
than its allotted proportion would have its
labor for its pains. the profits would go to the
competing roads which have failed to carry their
proportion Of the business.
The Eastern roads have all voted in favor of this
scheme and a committee of Western railroads
executive officers is at work to get all the
Western lines into the combination. This COM
mittee is composed Of S. NJ. FELTON,, president Chi
caso and Alton; Paul Morton. vicepresident Of the
Atchison. Santa Fe and Topeka: J. NJ Hannaford.
vice-president of the Northern Pacific; ]. T. Hara-
han. vice-president of the Illinois Central and J.
Ramsey. jr., general manager of the Wabash.
The railroad men do not admit that the forma-
ton and maintenance of passenger pool would
been the contention of the railroads that the
tion of the Interstate Commerce act forbidding
pools relates only to freight traffic and does not
affect passenger business in any way and It now
to be their determination to act and fight it
this presumption. The fact that President
FELTON, OF the Alton is chairman of the commit
tee insures the cooperation of the Alton and Union
Pacific railroads, which have been opposed to pools
The Great Northern, which ALWAYS
been a stumbling block in the way of pools and
steadfastly refused to join combinations OF that
kind, is said to have been won over.
TO ABOLISH GRADE CROSSINGS.
U