ads east of
Chicago then met and formed an association, and this association
was a legislative body without any legal authority to enforce its
decrees. It had, however, two effects: the disputes which arose
were publicly discussed, and the merits of each side so completely
demonstrated that the decision of the association came to be
accepted as just and right. Then the verdict of the association
had behind it the whole investment and banking community and the
press. The weight of this was sufficient to compel obedience to
its decisions by the most rebellious member. No executive could
continue to hold his position while endeavoring to break up
the association.

It is one of the most gratifying events of my life that my associates
in this great and powerful association elected me their president,
and I continued in office until the Supreme Court in a momentous
decision declared that the railroads came under the provision of
the Sherman Anti-Trust Law and dissolved these associations in
the East, West, and South.

It was a liberal education of the railway problems to meet the
men who became members of this association. Most of them left
an indelible impression upon the railway conditions of the time
and of the railway policies of the future. All were executives
of great ability and several rare constructive geniuses.

In our system there was John Newell, president of the Lake Shore
and Michigan Southern, a most capable and efficient manager.
Henry B. Ledyard, president of the Michigan Central, was admirably
trained for the great responsibilities which he administered so
well. There was William Bliss, president of the Boston and Albany,
who had built up a line to be one of the strongest of the
New England group.

Melville E. Ingalls, president of the Cleveland, Cincinnati,
Chicago and St. Louis, had combined various weak and bankrupt
roads and made them an efficient organization. He had also
rehabilitated and put in useful working and paying condition the
Chesapeake and Ohio.

Ingalls told me a very good story of himself. He had left the
village in Maine, where he was born, and after graduation from
college and admission to the bar had settled in Boston. To protect
the interests of his clients he had moved to Cincinnati, Ohio,
and rescued railroad properties in which they were interested.
When his success was complete and he had under his control a large
and successfully working railway system, he made