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“Perhaps nothing in respect to the relations between the railroad companies and the public attracts more attention at the present time than the arrangements to which the name of pooling is popularly given. In railroad circles these arrangements are looked upon as necessary to prevent all railroad property becoming absolutely worthless to the stockholders, as a very large part of it is now; and those managers who are hoping to earn dividends are therefore laboring earnestly to make these arrangements effectual…. What is said will refer especially to pooling in freight traffic, but in principle it will apply to passenger traffic as well.”


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