The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-03-02
The RAILROAD War.

The freight war is being waged, with a
isrceness never before experienced, between
the Pennsylvania Central railway and its
allies, under the lead of Col. Scott, and the
Baltimore q Ohio, pretty nearly single
handed, under John w. Garrett. Judging
from the revelations thus far made it
will probably develop some features
of the transportation problem in
regard to which the general public. and es-
pecislly the people of the West will rot object
to being enlightened. New York, probably
through jealousy of Baltimore, openly
espouses the csnse OF Scott. and the papers
of that city are strongly partisan. The
Tribune of the oath contains two
that it can only be accounted for
on The score of extreme partis2nship,
or that there has been some Substituting TO
secure its insertion, which latter explana-
ton is not to be thought of. 1t pretends 10
explain the origin OF the ieud and goes back
to the war period when tie Baltimore and
Ohio company refused to pro rate over the
40 miles OF its road between Baltimore and
Washington with the Northern Central,
which had been purchased and re-
paired by the Pennsylvania Central
company. This, remember, when the
main line Of the Baltimore & Ohio was prac-
tically closed by reason of its near location
to the seat of war, and when the Pennsyl-
vania Central line was monopolizing the
business of the entire Northwest, which I'M
der ordinary circumstances would have been
in the most violent language that
this was monster monopoly when the
mere accident of location was practically
making the Pennsylvania company the
greater monopollst of the two by far. 1t ac-
cuses Mr.. Garrett of violating repeatedly
the arrangements entered into with other
lines, and abusing the confidence and cour-
tesy of his competitors after the latter
had secured line of iIs own TO
Washington. 1t speaks of Mr.. Garrett as "a
local orator and figure head" filled with
dreams OF ambition that stop at nothing
short ofthe highest official position in the
gilt of the American people," and accuses
him of demagoguery in endeavoriDg to create
a ''tidal wave of popularity that would
carry him to the dazzling piAnacle
of his ambition" Having thus stated
the case it proceeds to calculate upon the
respective strength of the two companies, |
and in doing so some points are vauntingly |
stated which demand the most serious con-
sideration from the Western people. 1t il |
only surprising that even in their anger |
The manager or friends of The Pennsylvania |
company should boast so loudly Of the |
power derived from their combination.
The Pennsylvania Railroad Com
panY owns, operates, or controls
.s13 miles of roadway, or about gL
or cent. OF the total mileage of railroads in tbs
United States. This mileage represents a capital
If sS9s ,g67,675. The direct lines OF the comDany
imore and Wash ngtou in the East. and Erie,
Chicago. St. Louis, CiI cinnau and
dends of 10 per cent. to its stock noIders fer
many years, including the two last years of gen.
raj business depression. and was able a. the
" three months, the payment at par, principal
md interest, Of its second mortgage bonds ma
uring in 1870"
An investigation by special committee
II stock holders in 1874 reported the assets
# the company at their minimum value as
I78, 81, 7s7. while the bonded debt and cap ,
ial stock were sl27 SCI, $40, leaving a sur
lus OF S50,siO, $50. But this is not all its :
trength. The writer chances to know that
nder different names 1t also has a control /,
1g influence in several of the principal cor
orstions south OF this, so that when the !
ne Texas Pacific shall be Subsidized and ]
uilt, it will have practical control of the :
ntire system of railways Ia the United .
ates, except, perhaps, tho lines to the 1
orth OF it, and the single Baltimore &
hio to the south. It is this combination, j