, 1877-09-29
TEE RAILROADS.


AAAA ASAtA1NNAA A. <A9AN <ANhlAFss
Onc Of the objects Of the visit of Tic Hon,
Hugh C. +. C',lers. President vi tbs Great
Western Hallway Of Canauu, to tlIls country tlas
been to negotiate for u sctt!c'nun.sby Which tho
aifalrs Of thu Detroit il Milwaukee Railroad
could be Strengthened cut. Mr. Cl!il,lGrs, Oh
behalf Of tho Great Western, has mule n propo-
aition To take tho roal upo,l u lcnse and issue
flrst.mortgaye bonds to tho amount of $1,0O0,-
000, aud accontl.mortyago hanla to tho amount
Of *3,000,000, all guaranteed by tho Great
Western Railway Company, to tnke up tho Cu-
tire Indebtedness Ut the rusul. This proposition
hns been laid bcforu the Enslist, bo,llholdcrs,
mud they lave shown disposition to accept It.
Tic English nutl tireat Western i,ontlllo!dcrs
own controlling Interest, n,itl, netting III cOt,-
junction. would iin.louhtcdly govern.
4 ingct1ng WIS held lii Detroit Il tiny or two
ngo wel, VIVA attended hy Il larye nsnl'cr of
bondholders antl their representatives: also BY
has beel! sent nlt NJ tho representative 1T Eli
0iish tsui,.rrs of about 1,t4xGoo III ,ntls. MIR.
Jolu y. Newbcrry, o,' behalf Of Detroit canttal;,
1 IT, sS RFSSt' psy t. G,sais' ss aI ,i ss tSa
Ing per ccnt bonds for tho alancc, to he Ills
trillited as1lo1lg tho btE,lholtlers In an cqnttn-
ble 1na,li,cr. This proposition wnull give thu
tS1 y te p9eNsa wel %S o ,s fs nsss sass
factOry, a1M likely tO provo innre profitable.
md, therefore, render tho bonds oF grcaler vultu
t!lall tho TREAT Nestern management i'll En-
r,nl,l. being tic naiarai ully oi the Great West
crt, would, of COURSE. glvc 1t tho greatest pro.
portion OF tts business, rs It has done III tho
past.
lfacussed al great lututll. Thu fact that under
tho Dctruit proposition tile bOn.llollcrs woull
Ect SItD 00O cash, while under tho Grcak West
urn proposition they wuutl get none, seemed to
lnVu considerable weight.
Finally tlt wflt,Ih uJuttcr Syne fEfnfFe1 to n
cosnmlttrc, consisting vi lIei!rY N. Walker, 8.
r. uoug!uss, II. d. l.olyard,' Cant. +. Pavy, E.
": McsltlaIgll, und +. Martln, to report to q
DErloir, Mlch, Sept. S.-lhc hol'.tiiolacrs
OF tllo Detroit Il Milwaukee, RaE1ruad he'll n
meeting this aitcrnnun, lAstttlg tntD tH evening,
ut which tho questinn of tho disposition ot tho
roatl WIS freely alni warmly lscllsscd. Tic
outcoms ot this dclIbcration VIA the nppo1nt-
m"nt Of Mesars. Douglass, TAYLOR, and Lcayard
for tho lisposal u the r0a1. ilrlIdl1 Mr.. New
herEy'a proposition to purchase, aud the tirrat
Western Railroads. offer tO leAsc. Tho Com
ntttee ;as directed T. rcpnrt at future meet.
Ing, which will be 4e|d tn q few days.
REGULATING THE WABASH,
A mecttng of thu St. Louls 1la1lroasl managers
was held III II. Louis a few days ago tu aakc ac-
t!on IN regard to tho establishment Of outside
ticket.otllcca in that city by the Wabash ltoal.
After long discussion, It was resolved to rc-
Affirm tho original agreement OF September,
ls7l, amended July, 1871, III regard To ticket
offices aud passenger business In tho City of St
Louis, and that the Wabash Railway be- IT.
qursted to close one of tho oiliccs Of that llno
tn that city on or before Oct. L. It VIVA also re-
solved that tho Wabash Railway be requested to
Inform Mg. W. X. Arthur, Chairman Of tll,
meeting, on or before that dats, what action
Inn IN tnkn In II mi ha tff
| mcht above referred topFuTlcs that each rl1wa
company may maintain IN tMs City Vt st. Louis
one Ulllce where Tickets are sohl oscr It's !lnc
md connections and may Also sell tickets 1t tts
| St. Louis Or East st. Louis. Each company
agreed that it will have or permit tts tickets
sold a. no other Offices Or places tn 81. LOUIS,
and tnat III tickets st,Y'l BE- sold BY ollef pa1tes
| than the two offices specified. In sr'ee I'll THIS
agreement thu Waba4h Railway has opened an
additional oltiec u tho LIndcll Hotel, which
greatly exaspe,stsd the % oef foa IT, hst 'a ,.s
| were not buund by tbs above agreement, a. thu
road hal been rcorganixed s1ncs Z WIS adopted.
II Is not known whether the Wabash means to
md % abnllsh il extra ttekst-oiilcs Or not. Il it
docs not comply with the resolutions It Is ccr-
thin that the other st. Louis roads meau 10 take
such measures ~ to forco It to terms.
CANADA SOUTHERN SETTLEMENT.
The settlement agreed upon last week by tho
Joint Committee representing the Canada
| Southern Mat1roaa tuudholdcra aud tho New
Central Directors, # is announced, provides for
uew Issue OF Douds by tho Canada Southern,
amounting to u,000, aud maturing III
thirty years. Interest on which shall begla Jan.
!, 1878, ut the rate Of per cent for the first
three ycars, and per cent thereafter until ma
turlty. The New York Central ts to guarantee
tbs prompt payment oi the tutcrcst for the first
twenty 5ears. The new bonds are to be X.
changed fur tlose now outstanding On the basis
Of 100 pGE ceut fur the Cauaaa Southern
ilrst mortgage bonds t39,001uU) aud tAs
Canada Southern bridge bonds $500 0J0@; ~
detroit first mortgage bonda ,s0o.Oool; 81
pes cent for the Eric and Niagara bonds T. 4U,
ooD; 3lH per cent for the Cauada Southern
in iS73 ~ Isl, Iii; and s pcr - cent for ths
Michigan Midland aud Cauada bouls l61Uo, ,G00},
Tha rcmatndee Ut the usw bonds It Il proposed