The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-01-10

J with J. N. Mccullough, vice-president of the
Pennsylvania Company, and other officials
| OF the line west of Pittsburg, are
stopping at the Denison House. At
! nigh moor to-day ex Governor Cox, of ONO, and
! Hon. w. P Fishback, special commissioners for
the purpose, will offer Tor SALE from the most
| office steps, tine Columbus, Chicago IL Indiana
Central rail- way and It's franchises, Altogether IN
! Guiding the lines from Columbus, via Richmond.
| TO Indianapolis; Bradford junction to Union
! 'lVS, Nichmond TO Chicago, VIA hokoulo; l4oSaus-
/ port 10 the ) ate line, and from LOgausport TO
| Chleago-ln all $50 miles, The sale will be made
| under inert gage dated February, 1865, made 10
| Roosevelt aud FOsdick as trustees. and Is subject
| TO all sectional MORTGAGES executed prior to the
| consolidation. These sectionsl mort cages repre-
sent In excess of -, 900 600 ana with the bonded
J Indebtedness aggreg ate $l5, 900. William j.
scott, OF Erie, represents 100000 Of the
ponds, ana the bidding will he done IN the inter
| est Of himself and other hondhGlders. There Is
/ no likelihood that the roads viii pass from the
] control OF the Pennsyvania Company. Inc
mhlmdtn DID is liked at %l3, 100000, ana nothing
/ lower VIII he entertained. rumor was current
/ In railroad circles last evening that the Bdltl-
/ more IL ONO would be a bidder; doubtless their
/ bidding will end in rumOr, and the bond
! holders will he the only bidders against the
Gennsylya Company, which now operates the
! C., q * l. q. system. The most pleasant feature
| about the sale to-day is that, should the Penn
! sylvania Company prove the successful bidder,
! as doubtless IL will, extensive Improvements TO
me equlnments ana terminal facilities at
! Indianapolis, Chicago and Columbus Will be at
! once commenced. AT Indianapolis large shops,
! round-honse and new freight depot Will be
erected within the uext SIX months.
NOW FOR BUSINESS.
| President Roberts, ice-President Mccullough,
of the Pennsylvania lines; NJ. E. ingalls,, presi-
dent Of the Cincinnati, Indianapolis, 81, Louis &
/ Chicago; William r. McKeen, president of the
/ Vandaiia General Manager McCrea and Su-
| perntendents Miller, McKenna and Hill, Of the
Pittsburg, Cincinnati & ST. Louis and Vandalia
lines, are in the city, and j. II. Dovereux, presi-
dent, and Z. B. Thomas general manager of the
Bee line system, are expected here this morning.
The meeting was called more especially to take
some definite action regards the building of
the long-talSed of Union depot, although there
are other matters OF less Importance to come up
for consideration One of the presidents last
evening intimated thar definite action would
he taken in the Union depot matter until the lti-
cation pending between the Union Railway
| Company and the Cincinnati, Hamilton
~ Dayton Company settled. This
Is certainly thin excuse, that an outside ticket
office which sOld in December 81 900 worth Of
llcKets-abouG one-ffth the sales OF one OF the
tlcket-scalpers the same mOnth-shOuld he so
much OF hugbear as to prevent a railroad COM
pany which owns and controls property in
indianapolis worth millions of dollars, and pos
seSses advantages and facilities that no company
of like character possesses in any city of the
Union, going ahead with an Improvement so
| much needed as is a more cOmmOdiOus and con
venlent union depot at this point. There is not
| management of leasing lines that does not CON
| cede that the Union Railway Company, through
It's Union tracks, Union depot ard Belt road, has
very valuable prouerty; and, without eXoep-
| tlon they would gladly become part owners of
! 1t, and would cheerfullv pay their share of any
| fair appraisement Of tine property to become
members of the Union Railway Company, and
the Journal has good authority for saying that
could such union of interests of ali roads CEN
terng here be brought about, the leasing liues
would would act more than the honorable IN the
| matter. But by no means should the slight
| misunderstanding between the two companies
| first named defeat the object of the meeting
called for to-day, namely the adoption OF plan
for the new Union Depot, and the instruction of
the work.
vANDERBuT's NIcKEL-PLATE.
Cleveland Special.
| One OF the Seney syndicate in Cleveland, who
| sold out the Nickel-nate road, says that Burke
and Devereux induced Vanderbilt to buy the
line, through the control OF shares at 81 for the
preferred, and II for the common stock The
syndicate on its last legs George l. Seney
and the metropolitan Bank had loaned So, $780,
| 900, which loan was due Dec. last Seuey aud
the bank gave notice that the loan must be paid
that day without renewal Could telegraphed
from Chicago, after going over the line, deelin-
| ing to buy the line, which had been offered to
him for So, 600 600 for the control of the stock,
but this telegram had been kept secret Tt was
either sell or be sold out by the seney faction.
Burke aud Devereux were told that
| Gould would have the line within
week They asked for three days time, went to
| New YORK, saw vanderbilt, and gave him TWEEN
| ty-four hours TO make mp ms mind An arrange
ment was made, and the bargain closed at fig
! IRE netting the syndicate $3 1900, 900 more than
! they had hoped to get from Gould. Burke
| bought Vanderbilt 1875 900 shares of the pre-
| ferred stock and 1000 shares of the common
| ont of the whole capital of S50,000,0O paying
81, POS, 900, instead Of 81 100000, which the
| same stock was offered TO Gould. At the very
time when the sale was made Gould was in Buff
| faO, on his way home from Chicago. Wander
bilt has bought the road subject to SIS. 100000
/ of first mortgage bonds, S4,OO0,O00 of equip
| ment bonds, and floating debt said TO amount
| 10 several millions, so that he paid for road
costing about $4,000, 900 mt the rate of about
| S30,000,000. This is the statement OF we'll
| known railroad man who declares that the Seney
| syndicate in New York, Mr.. George I. Seney,
| pre- 7ident of the Metropolitan Bank, Walston Fl.
Brown, and railroad men generally, are laugh
| ing In their sleeves at the way i'll which Wander
bilt gulled. Gould is laughing in his sleeve,
| too, especially a parallel line to tho Lake
| Shore is already contemplated