The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-03-30

meeting oft creditors Of the Pittsburgh
southern Railroad WAS held nj the office OF the
company in Pittsburgh. lately. To consider
plans for the settlement OF the financial compl-
cations In which that enterprise Is ut present in
VOWED. statement WIS mnde showing the
liabilities 90 She company 10 DO about s225 900
and including the amount necessary To- COM
plrte the road about $500 900 committee was
appointed 10 confer with y Ike committee OF tho
cnlorscr- % the company's paper and with the
company itself. with reference 10 plan Of set;
tcmcni and 10 report u, Il meeting 10 be held
this week.
The Detroit tunnel project seems to have
made great sensation mt Detroit Railroad
men hre eNrlrI pcnus. OF thc antlripn.ed ei-
frt on railroad trniic; the citizens OF Detroit.
alarmed because the location OF the tunnel IL to
be several miles below their city. offor to build
a bridge instead OF II; and now the owners Of
vessels are afraid that n bridge may b. built
md not the tunnel, and nrc lpiting IN u petit
ton 20 Mr.. Vanderbilt To- stick TO his tunnel.
The Fort Wayne road is said To be doing the
Chicago. Its proportion OF the freight last
week WAS almost thirty per cent, amounting TO
little less than thirty million pOunds-nearly
twenty mill lions OF grain. over four millions OF
meats. and two millions Of -four; The two
PENNSYLVANIA lines togvther-ths Fort Wayne
aud tho Cincinnati and 81. l,ouis-carried three
eighUIs or tnc whole amount.
The motion for "a receiver Of the Wabash Rail
road COMPANY has been Tor the present denied.
II j. reported al Chicago That the company IL 10
have AN Independent connection with tIat city.
II seems that tho negotiuiious between the
Chicago and Alton Railroad Company and Mr..
Garrison Tor an ARRANGEMENT 10y which the G..
and A. would abandon Us claim for u share of
tho bus n.rs hrtwecn 81 Louis and Kansas
Guy. and the Wabash not build q branch into
htrago. have been hroken of The WABASH
people are also said 20 b., trying TO secure tho
u.s. OF the track Of the Rock Island rad in
place OF building new one.
- The rgmor that the Chicago. Burlington and
Quincy Railroad Company hgs obtained control
oil the Missouri. Kansas and rcNnS Railroad is
not. according 60 tho Chicago Tribune. without
foundation. Several OF tho directors and stock
holders OF the C., Il. and .. Company have
lntely individually purchased large amount Of
NJ. X. and r. stock-it is said about IS 900
shares. IL they should succeed in getting n
majority OF the stock. they will. of course use il
io benefit tho c., i. ana o.. aud will effect n
close working Arrangement between the two
lines. The NJ X. and +. connects with the C..
Il. and .. NJ Hannibal and is lis natural outlet
10 tho Southwestern country and to Texas.
In Maine, railroads are taxed upon the mar
Ret Nnlue Of their stocks. their property outside
OF their located way II taxed 10y the several mu-
inequalities. and their bonds are taxed in each
town where the owners reside and some were
found among the lawmakers, ut the last session
OF the Maine Legislature. who thought II would
be advisable 10 assess a tax Of one and one half
per cent. upon n valuation OF the real estnte oc-
cupiod by the roadway. irrespective OF any
mortgage or other encumbraDces.