The sun., 1910-06-05
HOPr ron RiTE SFTTLETLNT.
Railroad Wrn 10 ~~r Taft on NOndas aud
IsCOnfrr Win shippers Later.

New York banker who returned from
Chicago yesterday y after several days spent
At conferences between railroad executives
ard shippers over freight rate increases
reported that many Il the q 1errncss
h.tween the Two cpnt-nding psriIrS had
been smoothed over nd that apparently
lt would be possible tn agree upon % middle
ground. The shippers hr said rimiiied
that tho railroads were iu-t hed IN raising
certain rates but insisted shat there vas
40 Iustnrauu for raising ih. entire
tarn arbitrarily.
The railroad pres.d"uts also. the New
York man -aId. were taking "a NOR"
moderate view and were Inclined -
concilats the shippers. They Hrr con
slider ing COMPROMISE Il n Understood
whereby the railroads will CIV" up certain
proposed increases and the shippers wall
agree to accept others Furthermore.
the railroad men have C'stEsd talking about
the danger Of financial panic and arr
devoting their efforts to explaining their
side of tn controversy
Two conferences that will be held next
week are expected 10 20 a long way
toward clearing away some ut the clouds.
.
prezidents will call upun President Taft
az washin gton 20 present the reasons
which they say justify an increase IN
freight rat -. On TUESDAY 0r Wednesday
the shippers and the Western railroad
presidents will hold a conference IN
Chicago.
President W. c. Brown of the New York
Central Who told on Thursday Of ths sls-
pension ~ Improvement work and bet
termsnts until II N known whether OF not
a moderate increase m freight rates can be
SECURED. said yesterday that the action Of
the New York Central was the result Of very
sar1ous consideration aud II was taken
solely a. a measure n prudent precau1ion.
The Cleveland. Cincinnati. Chicago and
~. Louis Railway has just plac''d an issue
of $40. .OOO OO0 Z per cent bonds in Paris
Negotiations had boeu in progress and
were supposed tO be nearing a satisfactory
contamination Tor the sale of ti7 so On
Michigan Central per cent dsh-ntures
IN Paris On Friday morning. after the
report Ot the ISSUE Oi the Federal in
junction against increase In freight rates
reached Paris cables we're received dis
continuing all negotiations and saying
II would ~ impossible 90 dispose Of anV
bonda until conditions improved ia this
country. Unless securities can be sold
said Nr. Brown. only such money a. can
b. raised by the sale of short time notes
is available fJF expenditure. and Of course
no large impros eiDents can bo financed
In this way
Mr. Brown said that in hrs opinion the
situation was improving, that ha had no
doubt whatever that a reasonable in
crease In rates would be- authorized by
the Interstate Commerce Commission
and that the work temporarily suspended
would be resumed Until assured "
this. however. tho only safe oourss was
N postpone all expenditures which
while important arr not Indispensable.
and husband raaOuruea 80 provide for
those things which must he done. Mr.
Brown ESPECIALLY disclaimed any desire
or intention 10 criticiss or question the
neCessitv Tor or wisdom of the action
taken by tho authorities ne Washington
This Eiai1mont rurnss from tho N8w YORK.
Central oliiuss with tho addandum:
Ihere have bern many Wild and