Business & Finance: Fifth Trunk Line

While electrical engineers, supply men, mechanical and transportation experts conferred at Atlantic City (see p. 31), railroad magnates gathered importantly at the Bankers' Club, Manhattan, for the monthly luncheon of the Eastern Railroad Presidents' Conference. Competition was their theme, the new tariff of the Illinois Central their particular problem.

A rate war loomed as anxious presidents noted that under the joint schedule of the Illinois Central and the Redwood Line, manufacturers could ship steel from Chicago to New Orleans (912 miles) as cheaply as from Buffalo to New York (390 miles). "Unduly preferential,"...