Washington, Fab. 14 - A oonference was liekl yesterday títernoon botwoen Third Vice President Baldwin, of the Southern railway, and the committee oL employés. When thc eomraittee from the railway employés callod on Baldwin the atter presonted to them;ipimphlot showng why tho company Í8 unable nt present to make the general increase in wages desired, and another containing a schedule reinoving lnequaliües now existlng in wages, etc., by reason of the road ha ving x&n oporftted under separate management. The operatton oí this schedule, Baldvvin say3, wül be to increaso the expenses of cperating the system. Subsequently to the coníerenco Balilwin furnished a statement to the presa írom which it appear.- that steps have already been taken to correct irrogularitius in the new pay schedule. The company urges that by the great fullingoff in prices and the decreaao of reven ue to the planters, ininers and manuíacturers all labor has had its earning powers greatly reducod, and the railroads havo suffered a severe loss of revenue. The owners of the propertles now comprising the tíouthern railway have aooepted their losses as permanent, hsiving written off nearly 30 per cent, of their investments reprosented bv liens, and in addition eontributed some Í]2,000,OJO iu new mouoy on which they are not receiving one cent of inconie. Attention is called to tlie face that owiii"- to the general shrinkago of values the purchasing powur under the new schedule exceeds that of the wuges paid under the old. The conference was oL a very harmonioua nature, and the utmost cordiallty prevailed. The railway men wiütake the matter under ad visement, and as it is a sufojuct to whioli they will give careful and thoughtful attention an answer is not probable for sorue days. The railway officials feel oonildent tbat after tho employos b:come f ainil iar with tho condition of uü'airs, as they are shown by the pamphlcts tu exist, an amicable termlnatlOD of the disagruement will be arrivcd at.