The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1903-10-24
REDUCE FORCES ONRAlVAYS'
ORGANIZED AGREEMENT EXISTS
TO THAT END.
offissrs Of Railroad Company Agree
That It ls Better Policy to Reduce
Working Forces Than to Reduce
Wages Which Is Their Object
Workings Of Stock Market Exposed.

WV AOAAs-An organized agree
ment exists among the great railroad
companies Of the United States In re-
gard TO the policy TO be pursued in
making retrenchments and reducing
the forces Of employees. just as there
Was an understanding among leadins
financial interests in regard to ad-
faneing wages during the last two
years. This statement is made on
the authority OF a man identified with
leading corporation. While no formal
association exists. because such q
body would be contrary TO the inter
state commerce law. there is q gen.
uemen's agreement which is binding
on all Of the members and which has
been fruitful Of beneficial results ever
since II Was put into operation. Its
primary object is TO deal with the Ia.
Dor problem. 50 that employees Of one
railroad can not use another Is a
club 10 bring the first named into sub.
lection.
The word has now gone forth on all
large railroads that retrenchments are
to be made in certain lines where the
companies can most easily reduce
foress-sueh as car shops. repair
shops. maintenance OF way depart,
nent and Improvement corps. BY lay.
Ing men OF instead Of reducing wages,
those who remain can not well ind
fault. although. 90 be sure. some OF
them win be called on to do more worn
than they did before. II Is understood
here that the reduction Of forces will
so on for some little time. all depart
ments Ia turn being taken up. The
results 10 the company will be much
the same as II wages were cut. for Il
matters little whether a railroad with
wage list OF $1,000 900 lays on one
tenth Of it's men. resulting In a re-
dueiion to 5000 900. or made a redue.
ton Of 100000 in the wages Of it,
men and allowed them all TO remain.
Il may be that less work will be done
after the forces are reduced. but Il is
the policy Of all Of the companies 10
continue operations on Just as large n
scale as trafic warrants.
J. J. Hin In the Deal.
James J. Hiii's conference with the
Pennsylvania railroad oniciais in
Philadelphia Was primarily In regard
10 tho labor problem and the policy 10
be pursued in making retrenehments.
, II ia understood here that reductions
In wages win be taken up later. n
business conditions warrant Il: but
leading railroad men would much pre-
fer 20 keep up wages AZ long as pos.
aibic. The policy Of reducing wages
viii not generally be tried by the rail.
roads until after Industrial eorporA,
tons have led the way.
Wall street has been much inter.
eated this week In a theory which has
received wide currency. namely. that
The Rockefellers began buying stocks
a considerable time before they reach
I'd the present level and that the mar
tpt has gone against them q number
Of points in such issues aa United
States Steel. Amalgamated Copper
and the EranEcrs. The same story
had Il that ]. PieTpont Morgan was all
out Of stocks and was watching things
from the fence. Morgan is alleged 10
have been suspicious of the stock
market attitude Of the Standard OIL
people for a long time. and he there
fore began selling out last year. keep
ing Il up ever since. II this assump'
ton IL correct he now has n larger
balance in bank than ever before in
hia life. Those who advanced the
above theory say that the United
States shipbuilding scandal upset the
calculations Of the Rookcfellers: that
they did not forcsee these develop
ments. but had laid all their plans "a
uft the market before that incident
, came M. Close observers on the stoch
. exchange End no difficulty In recog
mixing STANDARD OH orders when they
sec them, but Il Ia barely possible that
: large buying orders were onset BY
. corresponding ones 60 sell through
i. lhecret channels. The course OF Unitet
States Steel shares all the week have
A no sign Of the alleged Rockefeller alb
u sorption.