Arizona republican., 1900-07-09
NEWS OF RAILROADS
Grain Rates May Be Restored
 August 1
Western Lines Said to Be Formulat- ing a Plan-Relations Between Eastern Roads and Those That Extended to Gulf Ports.

New York, July S.-Having arranged, the tariff rates on general freight, ef- fective July 9, the western railroad presidents are now endeavoring to bring about restoration of rates on grain to take effect August 1. The agreement entered into by the presi- dents for the maintenance of rates on other kinds of freight carried with it a certain provision that grain rates should be advanced as soon as a satis- factory plan could be formulated.
 Some of the western railroads are likely to have more grain to handle than they have cars to handle it with, while other roads with Kansas City connections will not have use for their entire equipment. The partial failure of the wheat crop is expected to 1i- mintsh the tonnage of some of the east bound lines materially, and on this ac- count fears are expressed that the strict maintenance of rates on grain will be a difficult matter. The traffic men of the western lines and the gulf lines say that they will stick to the tar if rates as long as they can. but they
 
 will be maintained by all of the lines between the Missouri river and the At lantic seaboard.
 An agreement was made last year be- tween the gulf lines and the eastern lines by which rates on grain to the At lantic seaboard were to be Az cents higher than the rates to the gulf ports. This differential was not considered a;, I cepted it under protest. There was rate cutting on grain very soon after ward. The eastern lines accused the gulf lines of beginning it and the gulf lines made the same accusation against the eastern lines. It is hoped that the closer organization of the principal railroads this year may improve the situation and render the maintenance of rates easier. There are, however, a great multiplicity of routes and in terests yet to be harmonized.
 ST. PAUL AND DULUTH.
 The St. Paul and. Duluth railroad syndicate, which managed the pur- chase of that property for the Northern Pacific. has completed it's work Henry W. Sannon, Daniel S. Lamont and Car eIiCe a. Lay, IhS SynQlcdte committee, announce that the proceeds of the sale less expenses. have been deposited with the Manhattan Trust company of New York and now await distribution Each holder of common stock was permitted to subscribe pro rata to the underwrit- ing syndicate. Only one assessment was called and that has been returned with interest.
 Each holder of the syndicate's certifi- cates upon surrendering the same to the Manhattan Trust company, proper ly endorsed, will receive as his share of the said proceeds of sale the install ment paid upon the certificate. and a sum equal to 31 per cent of the full amount subscribed by him. This is an uncommonly profitable distribution to the certificate holders
 President Mellen of the Northern Pacific says that under Northern Pa cfflc management $125,000 per annum will be saved in the operation of the St. Paul and Duluth road. Most of the important operating officers of the smaller road will be taken care of. Gen eral Freight Agent Broughton will be- come assistant general freight agent of the Northern Pacific, and General Passenger Agent Stone will become as sistant general passenger agent of the Northern Pacific.