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A Railroad Combination

A Railroad Combination image
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New York, Aug. 3.- The conference of railroad representativos at Saratoga is said to have decided that equitable and uniform freight and passenger rates should be charged, and the principie of cut-throat competition was condemned as unworthy of corpora tions and injurious to their prosperity. The idea was favored of an umpire or arbitrator at each of the diiferent centers, such as Detroit, New York, Pittsburg, Cleveland, Chicago, Cinoinuati, St. Louis and elsewhere, whose duty should be to take testimony, and, so far as it may be in their power, to settle all questions on equitable and in expensive plans. The general plan of the representativos was to effect a permanent organization and game measures to stand united against the opposition which appears to be destroying and concentrating upon their interests. Gen. Devereaux, President of the Atlantic and Great Western, who was chairman of the meeting, says that the meeting was one of the most harmonious he ever attended There was no doubt there wns a unity of interest, and just now there appeared to be special reasons for i conference of the central corporations. Ihere was no intention to combine for iny ïllegitimate purpose, "but it was esential that some measures should be taken to protect the interests committed to their care. He believed the railroad companies, in their late conference, had accomplished a great deal of good. There would be less friction, less bitterness, and aj greater degree of unanimity in their relalion to one another. President Jacob D. Cox, of the Toledo, Wabash and Western, said the meeting was called lesa for the purpose of raising rates than maintaining present prices and providing against the suicidal systenx of commissions, rebates and drawbacks which were in vogue, and whioh drained the resources and vitáis of the corporations. He had no doubt that the effect of the conference would be excellent. The Tribune says on this subject : The railroad conference at Saratoga was called, like oue which lately held ita session here, for the ostensible purpose of making corabinations to facilítate frausportation and establish uniform freigbt and passenger rates. The report of proceedings will indícate to many that the roads really coinbined to resist what they looked upon as the forthcotning encroachinent of the Western Grangers.


Old News
Michigan Argus