The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-02-08

that point, as the general managers and
sharp trick to sign agreement, ana then
break 1t within twenty-fOur hours. Within the
last four years the pool has been re-established
iour times, ana an agreement to MAINTAIN rates
has been signed by all partes six times within
the above mentioned period.
STILL ENTHUSIASTIC.
Colonel r. G. Hervey, president, etc, of the
Indianapolis & Evansville Straight Line, was in
the city, yesterday, and has lost none of his en-
thusiasm about the enterprise. Monday next
regular trains are to be put on between Washing
ton on the OHIO & Mississippi road, and Peters
burg, and February Is the United States mail
and express go on. Regarding the road between
Washington and Indianapolis, he states that Mon
day last the survey OF the line, via Blooming tOn
to indianapolis, was sent on to the parties in the
East who are backing him for their examination.
and also statements as to the country through
which the road will pass, she character of its
coal mines and its stone quarres, and he expects
before the close OF this month decision will be
reached whether 1t Is advisable to push the road
on TO Indianapolis this season. Colonel Hervey
Is rapidly hquldating all indebtedness incurred
while the enterprise was under financial cloud,
and will soon be able to present a clean record.
which, when shown. will be highly compliment
airy to him, so great are tho obstacles which he
overcome.
GETTING INTO WORKING ORDER.
After several years dilly dallying the railroad
commission of New York has been constituted
and will soon be in working order. The three
members have been duly confirmed and have
entered upon the duties of their office. They
have been chosen by the terms of the law, one
each respectively from the Democratic and the
Republican party, and one has been named by
two organizations lin which Mr.. F. B. Thurber is
the ruling spirit) known as the National Board of
Trade and Transportation and the National
Antl-monopoly League of New York. The New
York Chamber of Commerce, which also cast a
vote in the tripartite council, favored the
Hon. A. B. Hepburn, who was the orig
mai mover In the matter OF railway in
vestfgations several years since. The term of
ONCE Is five years. A clerk and marshal are
allowed to the commission, to whom the duties
ordinarily performed by such officers are as
signed. These two sunordlnates shall hold no
official relations with any railroad, shall own no
railroad stock, and shall have pecuniary in
terest in any firm having business relations with
railroads. The meetings of the commission shall
take place at least once month. The salary of
the commissioners is So 900, of the chief clerk
$4,000, and of the marshal 81 800, and the COM
mission has the right to hire additional assist
ance, but the total expenses of the commission
must not exceed $4,000 year. There are
many and various duties and pewers delegated
TO the board. They are given general supervis-
ion OF all railroads and railways, so far as ia
necessary to enable them TO perform the duties
and exercise the powers imposed and conferred
by law" They must examine the roads and keep
Informed as to their condition, the way they
treat the public, aud how well they keep within
bne law. 1t IS made their duty to investigate all
accidents on the roads resulting in less of life
damage to persons and property which they
think 1t worth while to examine. The commits
sion has the power to examine at all times the
books and affairs of the roads, can compel the
production OF books and papers lcopiesj, sub
p@na witnesses, administer oaths, compel at
tendance, etc
CLEAN RECORD.
AS the Indiana, Bloomington & Western is the
only company which has its general offices at
indianapolis, naturally Tndianapolitans are
much interested in it's prosperity. From an off,
cial of the road it Is learned that not dollar of
indebtedness, unless 1t be some disputed claim,
can be brought against the company dating
back Of Jan. l, 1888. The earnings OF the road
besides paying operating expenses in 1882, paid
the interest on the bones of the Peoria division
which was $4,000 in excess of that of any
former year since the company was reofEaBized,
the per cent. of interest increasing year by year
until per cent. is reached-paid 100000 rent
al for the Indianapolis, Decatur 81 Springfield
also equipment bonds OF the l., D, s.. which
the l., b. IL W. assumed when leasing the hne
paid 33 o per cent, of gross earnings, as rental,
for the Cleveland, SauGlsky & Column
bus road-some 1850, 900; expended $l5O,O0O
in improvements at Sandusky and on this diyis
ion, as we'll paid interest on the bonds of The
middle division after MAY l. 1882 and paid out
some $4,000 in building stations and other i'm
Provements to this division since the road was
received from the contraetors-and still there is
a surplus In the treasury 30 pay interest on all
the bonded Indebtedness and the rental OF
leased lines for two months to come; so that,
financially speaking, but few roads in the cOun-
try have cleaner record. Regarding the rImor
that the company were anxious to unload, Aus
tin CorbiD, president says he will not sell his
stock, nor will the capitalists interested with
him, neither the securities they hold, at present
prices or az sharp advance on present prices,
and until they sell their holding is so
large that other party can secure control
of the property, which he looks upon as having
very promising future, and he predicts that,
Win average crops this year and the mainten-
anee OF rates, the earnings for the year 1888
will exceed average of $500, 900 per month.
Since the present management took hold the lst
OF last month an amount of money has been
taken and forwarded to New York sufficient
to pay interest and rentals, although due only
every six months Then any surplus money
has been expended in improvements.