, 1873-10-26
RAILROAD NEWS.
The Erie Company Working for D.
rect Connection with Chicago.
Why tho Railroads Arc Com
polled to Retrencfl.

Tie Erie Railway Company contemplate milking 4
direct connection with Chicago. Dy means Of tho At
Iantio l. Great Western, anil Cleveland. Columbus,
Cincinnati Indianapolis Railroads. tho Eric reaches
Cleveland, indianapolis, mud Cincinnati, and compotes
for St. I4ouis busfncss. Tie management haso now
como to tho conclusion that hoy cannot longer afford
to bo c,1t on from Chcago. They propose TO utilize
tho Atlantic l. Great Wcstcrn Hailwny fur west as
Gallon or a1arlon and tlcn brauch off In Ill atr aro
to this city. Tho l!lc projected. would be about 2oo
miles long. The Viccpresldont Chief Engineer, ana
other officers Of tho Atlantic arcat Western Railway,
havo been III Chicago for several days, looking tho
ground ovor and Investigating tho Feasibility of sccur
lug IN entrance into tho city. Property-ownefh On
tito South Bslc mot them In liberal spirit,
and difficulty In tue why Of their getting ~ fur
North A. Sixteenth street was presented. The 1nots
ccntral Nafoad Company egnitiod Its Willingness to
grant depot faciltiea and ntatcd thu carly proba
bility Of bridge being thrown acroao tho mouth OF
Tho river-so connect with tho Chcngo Northwestern
Railway Tho Eric officials, however, dcaitc to nuke
Of good connection With a1l tlIa Western roadR
entering tho city and for ta purpose, considered
tho cxrcdicncy Of coming n tic West Side, III order
to cross a1l tho existing railroads. They found tho
Alton l. Northwestern already cranpcd for Track
roomt but preferred connection with the hitter be-
ca,He Of the advantage Of clone relations with rail-
wny ByHtem extending across five Northwestern States.
Tho construction of this Important limo IL 1uninly
dependent upon the succcss attending President Wat
son's mission to England Up to tho panic, Mr.. Wat
non had succeeded beyond anticipation In cnsttng tue
financial cooperation Of London capitalists In his planE
for The development Of tho Eric Cotnpany'd culer-
prHea Since tho depression Of stocka tho foreg'ers
hayo hesitated about investing but recent nlyiccB
from Mr. Wataou presume TINT tito dstruBt will soon
pass away anu tho money called for be forthcoming.
Should Is efforts he entirely successful, the gnGgo
Of tho E.ic and Atlantic I: Great wegcrn will be mar
rowed 10 tho sandard-4 feet 81 inchce. and the
projected Iino to Chicago be Immediately located
and put under contract. The favor with
which Mr. Watson las been received. in
London, and the confidence felt in his honest
administration by tho English stockholders. Is toer
ably safe augr5 tlnt these improvement, will be cer-
tain events Of tho future The Eric Colnpauys great
1yashe Eew YoEk @ .n :; te
former intcuds to u1ntnta1u ita position 1s grand
trunk linc must speedily establish an all.rai Hsw
York aud chicago line under one 'nanageInont. Tue
contamination Of this scheme would, doubtless, pre-
cipitate tho construction Of another crcdau1e union
necessity for reduced Nrng Or upon
stood Employees unaware Of tho financial demands.
seeing only the heavy hustnesa transacted, believe no
real nced exists for 10 per ce9t rcactioG as IN
earnings approximate 600 900 year. Is forced
reduce tue n y tRo
rius and cTcsto deficiencies. Tnis theory would bo
more acceptable tho Like Shore RAILWAY ~ Ok
certio but tile Illinois Central is similarly red1cedy
ard no uno las set casscl that Company iu the stock
watering caegofy. la rue the gross EARNINGS Of e
snown iy Western Railroad whe the nst results
considerably less than those for tho corresponds
Ing period t 1872 Had the raea been tue s' samo a.
been more prol,tLlc Tin CompanyA fiscal yeac te:-
mnatca Oh Dec. 81. For the six mouths ending june
f. ne;s,so s 's 81 sasna ~o nes e
Of slt6,oy7 ~ the ''et earnnga comrared Will
per'aM o. Of as S tue % GpsT
business has npcesaitatcd comparative out
lay Of 81 600 for ita tranh1'oat1on % dG an TIC
corresponding haf-ycar Of 1872 III thcse items arCt
reductions can DO riade without seriously tnnrilt
lilo cAlcIoucy Of tho road. Imperative cconoy simply
1ncans no more equipment, clrgant passenger dc,
pots, steel raila, aud garden p!as along tug rght q
wn tho @ mcs :" " MnSa ra.nnn al M ory
men engaged upon this sconstructon-worl;: Ei*Earg
Ing thin iorco enables the corany to ret:e ''e rat'
1aasrnont @ from ii:avised s1Ies Instances hAss re
comfy come to our knowledge Of men greatly obE!ne
hsn sps{' q 'o y sFss ' aay ' o fs
iscasss Tbs c,1ss sor zwc EFT ro
nn9s II NJ ns .f a e oa
mortar, and to ewing rcd hag at crossing isa ser
vico that could bo sufficiently well performed by m.
tho ynrious departments Vast nu,nbers Of csrks ar
employed whose places could ho equally well n!lea :!
fns fasts nay 10 pasoSlasy asesul ths wnsr sel
| TLo cannot well bo replaced will always be ut
nre1ninm but 1t would DO disastrous folly fur tue III
pro1tably dispensed With. ,
TIN railroad companies are united IN ther deter.
nination to rcrencl, They uro not unmtntlfnl o
tho distress that must ensue, arl csiro US much vi
possible to mitigato 1t. Money however, ts scarce
ind confidence III railroad securities Ia gone
EarnIugg att therefore, the sole dependence Of til
comnancs. These are sufficient to atfray current ex
ponses but yest indobtsness hay been nsarfsa' IN,
must 10 nquitiatel. Tile noea fast falling aae % as
The Eoads arc to 10 opt out hands of Receivers
In operating thoro IL always room for eeonomy ant
II tho panic has no other good result, 1t will certan
determine how cheaply railroads can he run. :,
The reductions affect ta!arIed Officers y. a. wen
to cut down has extended throughout the countr
should convince every man that, wAere there Is y
choice and c cannot do BETTER the alternative uuat
u1complAlningly accepted.