, 1873-04-18
RAILROAD NEWS.
Tho Struggle for tho Possession OF tho
Cleveland, Columbus, Cincinnati &
Indianapolis Ikond-Othcr Railroad

| Tho Struggle for tho Possession of tho
! OtcvcInn1, Columbus, Cincinnati &
Indianapolis lkond-Othcr Railroad
Itcnla.
CLEVELAND, Ohio, April 17--The following ia
the affidavit Of Amasa stono, Jr., Of Cleveland
In tho recent injunction case against tho G., G..
q. & I. r. r.. Mr. Stone. after stating that ho
hns boon intimately connected with tho Glove.
contractor, Superintendent, Director, and prosl-
don't, says: j" 4 majority Of tho through buai-
neas Of said G., O., g. l. I. Railway Company
comos from, md goes to-, sourcos that
Western Road, and, in my opinion, could not DO
retainod by said A. l. g. n. Road, resulting in q
dimlnutlon OF tho net earnings Of said G.. e., G.
& !. Road, to GO per cont Of what they now aro,
mont on tho part Of eaid 4: / &: ". Railway 90.
That tho 4. d G. ". Railway Co. is utterly in-
solvent, and lns not tho capacity for anything
more than the payment Of its running expenses,
It's contracts with tho untoda statos Rolling
Stock Company for the uso Of rolling Btook rented
Of said Company by tho A.. & g. y. Hallway
Company for uHo, upon its road and TOR
nea saa ssos Ro1Ds 6SsR 6R g. 5s i res sa
| which amount to more than 90 per cent por
annum OF the cost OF such rolling stook, and In
addition ia bound to maintain said rolling stock
nlng oxponses and ronts, oto., ~ aforesaid, BY
said Atlantic Il groat Western Company. its
own debt which amounts to over e06O00000
and bearing IN INTEREST Of oyer, s4,o06, poo m
II sot Would be | ofs wholiy unprovidc saa for
nadot IN . leaso from lie q, G., q. ii. %.
to tho A. \ G. ". Co., md no socurl-
" sharoholdera II ito interest they
would have by way Of roversion and restoration
Of thoir property, for tho reasons that whom
commorco Is once diverted and other Permanent
channels provided, the original line has Lost it
managers have, from their organization, shown
al utter incnpacity for managing railroad prop
erty; that Its owners aro almost entirely for
eignets, with no common interest or sympathies
With the people upon the line Of tts road md
and business, and not the running Of railroads
in any proper or legitimate why, or in ac-
eordanco cord, With public policy, and their
and ,shioR results in tio: general damoraliza:ion
Of tho employoa Of tho Company. In my judg-
mont, tho IS. Dot, 900 OF now stock proposed to
DO issued by tho G., O., @. & I. Company in caaa
tho lease Of tho road to the A. & e. W. Com
tho sale of auoh stock is not NODDED to develop
tho property or promote tho interests OF tue O.,
O., o. 6 noad, and henco 1t is to DO reasonably
inferred that 1t would be uaod for the benefit Of
the q, O., Q. { /: Road: il lossod to tho 4: / d.
W. Company, will, within Eve years, bo dinAn-
iHhod to one half its proaent value.
8. I. II. Barlow, as attorney for tho Directors
anapoia Railway bus fiiod rejoiuor in tho
United statos Circuit Court IN reply to tho COM
plaint OF the Stockholders Of said Road. hlr.
Barlow saya that, as attorney ind proxy. hc rep
roBenss large numbor Of tho shares Of the
Cleveland, Columbus, Cincinnati 4 indianapolis
Hallway. At the recent election Of tho Board ho
voted upon nearly q, 900 900 Of aaid stock, which
Taa owned BY poraons having no interast in the
Atlantic d Great Western Railroad. He further
atates that II is not desired or proposed that any
arrangement Bhall DO made betWoon tho two
Companion which Ia not mutually advantageous
and bonehoial or which will In any manner afKocs
or efg 1on Sa 81
He denies tho allegation in the bill Of complaint
as to the insolvency Of the Atlantic & arcat Vest
nswa 10 he% bsSn IT.
Indianapolis Railway similar to tho ono proposed
by tho Atlantic d Great Weatern has been In
contemplation for many yeara by tho Luke Shore
this auit is begun, partially or wholly at the e1-
pensc Of tho Lake Shore Company to aofeat an
houost administration Of affairs Of tho Oloye-
fne ys a e s aoSass Fl tho cap
tai atook OF tho Cleveland Company l6 necessary
for additions and improvements to said road,
and tet no part Of It Is to bs used in tho lntor-
BALr LAKE, April 14.-Ground broken to-day
on tho Salt Lake. seyioro Vnlloy l. Piooho Rail-
road by Gems. Connor and Daraum, aBBiated by
road will be opened for forty miloa tho latter
part Of tho summer, The prospects arc exceed
ingly encouraging.
DosToN, April 17.--Tho Bordel bondlo1dors OF
tho BOSTON, Hartford Il Eric Railroad mot to-
day, md formed corporation nndor tho namo OF
the New York & Now England Railroad Com
pany, with capital stock ct go 600 900, divided
into shares Of 800 oacl tho Berdoll bouds to 10
surrendered in exchange for now stock in tic
proportion Of ten Hlaros stock for each bond sur
rendered. There arc rl1nors tltat an attempt
Will bo made by tho Lano interest to optoin the |
new corporation from executing it's plau,
DETno1T, April 17.-Thc break In tho Flint 4 !
Pore Maqnetto Railroad at bridgeport, caused |
by the Hood has bcon repaired, and ali trains aro
running az usual.
O1NolNNAr1, O., April 1T-p. II. Watson, Pres |
ilent Of tho Erie; 8. l.. II. Barlow, Attorney OF |
the Erie Road George ?. Mcclellan, President |
Townsend, Superintendent; and d. 8, Flint,
WansGeE Of tho @, G., G, i !. r. T., arriYai |