Daily globe., 1883-06-30
GREAT RAILWAY SCHEME.
"THE PEOPLES R-fILROID COMP1NT
OF -dNERICI.v

indianapolis and California Pitch in to
Build L 900 Miles of Double Track Mar
Gauge Railway From Ocean to Ocean
and From the Lakes to the Gull, at Cost
of $36O.OOO,OO0.
INDIANAPOLIS, June ga secret meet
ing was held at Plymouth hall last night
in the interest of new railroad scheme of
great proportions, the substance of which
was as follows: Two double track narrow
gauge roads are to be built traversing the
country in opposite directions from New
York to San Francisco ana from Chicago
to New Orleans, or as the circular states,
'from ocean to ocean, and from lake to
gulf.' Eight series of stock of $25,000,000
each are to be issued and the bonded debt
on the double track road property
equipped is to be but $4,000 to the mile,
and on the single track $4,000. Indiana
will be allowed but 100 stockholders and
the organizers of the scheme say that but
seventy-five If these stockholders can be
residents of Indianapolis.
The new company is to be known as
''The Peoples Railroad company of Amer
ica." Every employe of the company is to
be stockholder and the profits are to be
divided upon this basis. 1t was stated
last night that California capitalists were
willing to advance the money to get the
colossal scheme in operation.
Seventeen stockholders in the Peoples
Railway of America met in Plymouth
church this morning to perfect the organi-
zation began last night. A committee on
articles of association submitted report
and the articles were adopted. They pro
vide for over $1,000 miles of narrow
gauge road with a capital stock of $780,
| 100000. The entire scheme is somewhat
in the nature of mutual benefit associa-
tion and national syndicate with head
quarters at this city is provided for COM
posed of 1000 stockholders, the members
of which are to be elected from organized
boards of stockholders along the lines of
the road.
Up to this time there are eightythree
| subscribers to the stock, representing
$4,000. So soon as $10,000,00O is sub
scribed by the people, California capital
lists stand ready to subscribe the balance,
or proportion as may be required to
build the road The Indianapolis stock
holders number forty five, among whom
are the following: j. G. Shoemaker, E.
Kendedy, j. II. Stewart, Myron w. Reed
j. H. Rice, Fred. Heener. Other stock
holders are G. A. Boughton, Jas. H. Baird
W. T. Raycroft, of Chicago, Jacob Rob-
erts, of Philadelphia, David Parsons, OF
Detroit, G. E. Sweasy and H. t. Bone, OF
California, W. B. Hakes and Il. j. Breck-
enridge, of Louisville. 1t is the purpose
of the organizers to build a line first from
San Francisco to Indianapolis.
This afternoon committee on nomina
tions were appointed by delegate stock
holders, and in accordance with its report
the following directors OF the People;
railway were elected: j. G. Shoemaker, j
H. Rice, Emf Kennedy, of Indiana, L. A
Boughton, ILL.,, R. j. Breckenridge, c. E
Mezy. California, Jacob Roberts. Pennsyl-
vania, W. F. Lander, Massachusetts, G. NJ
Shredder, Henry Tapaghen, New Jersey
and David Patsons, Michigan. The engin
eers are H.J. Bone, j. O. Baird, D. H
Temple, and the surgeon W. &. Elstun, O.
Indiane.
The directors will elect Emf Kennedy
of this city, president, and j. II. Stewart
of the Indianapolis Bank of Commerce
treasurer, and auditor, Freeman Wr1gt t,ot
| st. Louis,