New-York tribune., 1875-02-24
THE CONTROL OF AN IMPORTANT LINE.

IMPENDING CONTEST FOR THE CLEVELAND, CoLUM-
BUS, CINCINNATI AND INDIANAPOLIS RAILWAY
FKFoRTs TO GUST THE ERIE AND AFFILIATED
INTERESTS.
A new railroad contest is about to be begun
IN with the Cleveland Columbus CINCINNATI
and Indianapolis Company The developments In the
reIatiops OF the Erie and Atlantic and Great Western
pes have tended make the stock and bondhoders OF
connecting roads wary Of further complications with
,hose enterprtses This IS especially true Of the
cleveland Columbus, Cincinnati and Indianapolis
Railroad Which, the Erie, is the most important
railway in the system. The value Of this particular
ipe 70 this chain Of railroads may be understood from
the efforts made to obtain control OF 1t. The capital
sock OF the Company is $15,Ooo,Ooo The necessary
amount to controlling interest was over $780,
go which was quietly obtained by the Atlantic and
Great Western aud in March, 1879 the present
unent installed
The intention the road TO the AtlaDt tic
and Great Western, but so much indignation was
eited by the proposition that the Ohio Legislature
passed law prohibiting the leasing OF any road in the
state unless threequarters Of the stockholders con-
s&nted As the Atlantic aud Great Western managers
d not control that amount Of stock and 1t would have
been uDwise have attempted lease in the face Of
popular opposition. that project was abandoned, and
possession OF kept by keeping control Of
the stock. To keep the stock 1t was necessary TO
have some money, and the Atlantic and Great
Western Company issued what known Western
Extension certificates and bonds amounting TO about
oO0 which 10000 represented by three
wear certificates and 100000 guaran by the
Eric Railway Company. Collateral security in the
shape Of the stock OF the Cleveland Columbus. Cincn
matt and Indianapolis Railroad was deposited in the
hands Of the nominal value OF the bonds
thus placed According to the published trust deed by
which the Erie guaranteed the interest the t2
bonds the voting power OF the stock thus lodged 10
vested in the Erie Railway Company. AS the Western
Extension certificates have the protection the
bonds through like deposit OF stock, the voting power
H. presumed rest with the trustees, the stock Is in
their custody.
TIE Individual stockholders OF the Company are op-
Atlantic ana Great Western and Erie Companies. With
vew 70 concentrating this opposition. circulars have
been seb out 10 the stockholders asking them 70 for
wafu tnelr proxies to be used against the present
Board Lelhnd Bros Co., bankers OF Nassaust., are
at the heao OF Tue opposition, and Sir John
one OF Tue trustees OF the Western Extension
81 undefstooo 70 De acting with the opposition.
will be successful, as the voting powers of
30 large amount Of are lodged in he
Of the Alta and Great Western and the Frts Con.
MES If br John bWlnburne 10 allowed 10 vote anon
the ErIe certain. may he dohf
ful however II this stock 10 voted agansI The onnosi
ton The election will DO held March o. in Eieye-
land.
INJUNCTION AGAINST THE BALTIMORE. PHIIA
DELPHIA AND NRy-YORK RAILROAD DIS
MISSED.
PHILADELPHIA. Feb. 23--An injunction was