Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-08
BY CARLTON A. SHIvELY.

NEW YORK, July 8.-With an inter-
national agreement on war debts arrived
at, Wall Street has focused its atten-
ton cnce more upon developments
nearer home. Eastern trunk line rail-
road executives have resumed a long
series of conferences which they have
held since last Autumn in an effort to
agree on terms for the merging CT East
ern railroads into four main systems.
Wall Street expects either an early
announcement of complete harmony
on all details or decision to make joint
application to the Interstate Commerce
Commission to approve the merger in
principle. The roads could then sepa-
rately file plans covering specific provi-
sions for each system after settlement Of
disputed points by arbitrator.
Systems Outlined.
Heads of the systems involved, In
GLIDING w. w. Atterbury, president Of
the Pennsylvania; p. E. Crowley, presi-
dent of the New York Central; Daniel
Willard, president Of the Baltimore &
Ohio; j. ]. Bernet, president of the
Chesapeake & Ohio, ana o. P. and M.
J. Van Sweringen, who control the C..
q o., the Nickel Plate, the Erie and
ly known as the Van Sweringen lines,
have drawn up the outlines of four
trunk line systems. Most of the details
also have been settled. The remaining
points which will be discussed and pos
sibly acted upon today are the price
which the Nickel Plate system will pay
to the Pennsylvania for its holdings in
Lehigh Valley and the question of
trackage rights to the Pennsylvania
over that portion Of the Nickel Plate
running between Ashtabula, Ohio, and
Brocton, N. Y
Anticipating difficulty in agreeing on
these matters, as well as on PennSyl-
vania's demand for trackage and traffic
solicitation rights on the Lehigh VAL
ley and the disposition of the Virginian
railway, arbitrator were appointed last
Winter. They were Thomas w. Lamont
and Thomas L. Gates for the Virginian
and Lehigh Valley matters and George
T. Slade for the Nickel Plate dispute.
Agreement was reached without the ar
bitratorS on the right Of Norfolk 81
Western controlled by Pennsylvania
and Chesapeake & Ohio to seek joint
ownership and operation of the Virgin
ian. Also that the Pennsylvania should
have trackage rights over the Lehigh
Valley and the right to solicit traffic in
that territory.
Pennsylvania Opposes.
New York Central is the principal
opponent of the Pennsylvania demand
for trackage rights over the Nickel
Plate, but 1t is generally believed this
right will be awarded. The arbitrator
is known to be favorable to 1t, in case
he should handle the question. In ad-
dition to this point, the meetings will
do further work on allotment of short
lines and terminal rights.
The lineup as now agreed upon will
increase the Pennsylvania mileage
about 15,775 miles, adding the Wabash,
the Ironton and the Norfolk & Western
to the present system. New York Cen
trail, with the addition of the Lacka-
wanna, will have 12,745 miles. The
Baltimore & Ohio. which secures the
Ann Arbor, Reading, Jersey Central,
Western Maryland, Chicago & Alton
and two or three minor lines, will be
the smallest of the group with II, 230
miles. The Chesapeake & Ohio-Nickel
Plate-Erie combination, with the Lehigh
Valley, Chicago & Western Illinois, Pere
Marquette, Wheeling & Lake Erie, will
have 1850 miles. The four systems
will Jointly control q number Of small
lines, bringing their total to about Co.
900 miles, or virtually one-fourth that
for the entire country.
President Hoover announced last De-
cember an agreement in principle by
the four principal Eastern trunk line
railroads on a comprehensive merger
system involving virtually all the mile
age east of the Mississippi, excepting
most Of that in the South and in New
England.
However, the little things in railroad
matters, as in life, count for a good
deal Personal ambitions and jealousies
have caused a good deal of delay In
concentrating the merger, which yet
will have 70 pass the Interstate Com