, 1879-02-09
RAILROADS.

| THE WESTERN UNION,
| Tic Taiiroad Gazette has the following in r.
gard to the failure Of the Western Uuion Rail
road to pay the coupon on its bonds that fell
due Feb. 1:
The Western Union Railroad, greatly to the sur
prise Of almost everybody, failed to pay The counon
on ITS bonds that fell Jue Feb ]. The Company has
been commonly identified with the Chicago, Mil
waukee s. st. lanl, but there has never been any
othet tonnecion between them than that caused
By the latter Conpany's owning majority OF the
Western Onion stock, and 90 putting its own off,
GERS in control of the Western Union Rond. and
working III its interest SO fur possible which il
not great way. The Western Unlon report is al-
ways bound up with that OF the Chicago, Milwau-
must aay, however that the report has never given
| any in,imatlon Of the danger (Which, it nov an
pears, tho Company has always been exposed
tnatis tho existence Of considerable noutng dept
which has heen carried along for Ycars oy the bank
aft.s President, the Hon. Alexander Mitchell, Of
Milwaukee. The yearly interest ckargeis S245, 900,
| amt the reports have shown average net earnings
fur tho past five years TO t1le amount OF SILL 900
| per year. The balancc. sheet ut the clcse Of is77
dcut" OF S;;.j, 400, SlOs $50 due tie Chca.o. Mii
| wankec 4S St. Paul Company. and charge of
s3a'. to Income account" T4e cher owner
Of the bonds is the bankrupt City OF Glasgow Bank,
whic! also most Of the stock not in the Qua.
session OF the Chicago, Milwaukee, st. paul Com
pany. Mr. Juitus Wadsworth, Vice. President OF
the latter Company, says that after the failure of
the Glasgow Bank Mr. Mitchell longer felt justi.
fed in advancing money to pay the coupons with
s.
Paul was not willing TO give unless joined BY tic
other chief stockAo|der.
The Western Un,on probably nerer can be made
profitable road but in the yenr Of its largest net
earnings 1t made profit OF about 81, 00 per mile
and it has averaged nearly 81! oo0 per mile for Ave
the interest its current funded debt, and that il
the hosting debt can he retired the way may bc
smooth before it. What this floating debt
4' 0 foreclosure, Droba5y most Of .'eit Il
will bc destroyed: but in other hands the road very
likely would not be 30 profitable as it ia now. it
does not bring 1nnrh tfaifc 10 the Chicago. Mi
waukcc s. st. Paul; at 'east, most OF the trniiic
that it brings is carried but short distance on the
latter roud but II ca9 DO DC i some harm. and the
deal Of harm. The deh:ult is unfortunate for the
Glasgow Bauts stockholders, for 1t wifi inevitably
lessen the amount tina: ean be realized from the
pose Of ut IN early dar. They seemed month
ago perfectly good security; now, though oil
that stands between them and regular payments
hereafter may NOT amount to more than three OF
four coupons, their reputation has been injured
that they will not for long time bring their old
menttoniny,-a least that part owned ny the Glas-
gov Bank was not. The Chicago, Milwaukee T.
st. Pauls holding has doubtless ueen worth some
tl,ns to it. as olins il TO control the Western
Gnion Road. But the prospect Of earning tliyi-
denu has always been very elm.
RATES 10 TIE TERRITORIES.
The illinois Central, Chicago & Northwest
ciI, otouA AttS " Iaclhc, anu Dlh0tl South |
eru Railroads hare established Joint
freight tariff to tile Black Hills, Montana, and
Idaho, via Sioux City and Yankton. For Black |
Hill points the rates will be as follows: From
Chicago or Milwaukee to Yankton, Dak., freight
without classification Except gunpowder), AZ |
CENTS per 100 pounds; guupowdcr in carloads,
10 cents per 100 pounds; gunpowder, less than |
carloads, SIS cents per 10o pounds. For Montana |
and Idaho points the rates will be as follows: |
From Chicago or Milwaukee to Ynnkton, Dak.
freight without classification Except gunpow-
der), IS cents per LOO pounds; guppoBdcr 10
carloads, 10 cents per 100 pounds; gun
powder, less than carloads s. cents per
1U0 pounds. Articles classified higher than
first class will be rated accordingly, the
tirst-c1ass rate as above being, for Black Hills, t
50 cents, aud for Montana and Idaho Is cents,
When coming from Black Hills. Montana, and
Idaho points, the rates will be as follows: From
Yankton to Chicago, furs and dry hides, so
cents per 100 pounds; buffalo robes and conf
mon skins, IS cents per 100 pounds; ore and |
bullion, carloads Of 10000 pounds or over, 80 |
cents per 100 pounds.
TIE RAILROAD WARS.
There was 10 change in the situation Us re-
yards the wars between the various roads lead
ng to the East and to the Southwest. The
General Freight Agents Of the roads leading
EAST held injecting yesterday morning at the |
'ittsburg, Fort Wayne s. Chicago freight
'tlicc to take some united action re-
,ardinc East-bound freights. Besides calling
A..