The daily gazette., 1883-06-30
NEW RAILROAD SCHEME
A MARROW oUA0E ACROSS
THE CONTINENT.
A CHANCE FOR ALL THE PEOPLE.
Eleven Thousand Miles of Marrow -(auaMe
Road to be Built, with . Capital Stock
Of $500, 900, 900.

INDIANAPOLIS, IND, June ga secret
meeting was held here last night in the In
terest of new railroad scheme Of great
proportions. The substance OF It 10 as fol-
lows: +H
Two double-track narrow-gauge roads
are to be built, traversiDg the country in op-
posite directions-from New York to San
Francisco, and from Chicago to New Or
leans; or, as a circular says. s'from ocean to
ocean and from lake to gulf'
Eight series of stock at $25, 900 each are TO
be issued, and the bonded debt on the
double track road, properly equipped, IL to
be but $4,000 per mile, or, on sinRle
track, $4,000.
Indiana will be allowed but 100 stock
holders and the organizers of the scheme say
that rs of these can be residents Of Indian
apolis.
PEOPLES RAILWAY.
The new company is to be known as the
peoples Railroad Company of America"
Every employe of the company is to be q
stockholder, and the stock will cost but IS
a share.
1t was said last night that California capI-
talists were willing to advance the money
to get the colossal scheme in active opera
ton.
Seventeen stockholders of the company
met this morning to perfect the arrange
ments of the organization.
Last night committee on articles Of as
sociatton submitted report and articles
were adopted. They provide for over IL 900
miles of narrow-gauge road, with q capital
stock of $3.50, ,000, 900.
BENEFIT ASSOCIATION.
The entire scheme is somewhat in the
nature of benefit association.
national syndicate, with headquarters
in this city, has been provided for. The
syndicate will be composed of $50 stock
holders, and the members will be elected
from organized boards of stockholders along
the lipes of the road.
Up to this time there are SO subscribers to
the stock, representing $1,000
AS soon as 100000 have been sub
scribed by the people California capitalist
stands ready to subscribe the remainder, or
such proportion of 1t as may be required to
build the road.
The indianapolis stockholders number
45, among whom are the following named
person: j. G. Shoemaker, e. Kennedy, j H,
Stewart, Myron w. Reed, j. 81. Rice and
Fred Heiner.
The other stockholders are G. A. Brough-
ton, James II. Baird and w. 7. Raycroft, OF
Chicago; Jacob Roberts, of Philadelphia,
David Parson, of Detroit; G. E. Sweazy and
H. l. Bone, of California, and W. B. Hakes
anu W. u DicShluAluBo Vi LOUISVILLE g.
WHERE THE START WILL BE MADE.
1t is the purpose of the organizers to build
the line first from San Francisco to Indian
apolis.
This afternoon a committee on nomina-
tioHs was appointed by delegates of the
stockholders, and in accordance with its re-
port the following directors of the Peoples
Railroad were elected: j. o. Shoemaker, ].
III Rice and e. Kennedy, of Indiana; G.. A.
Foughton, of Illinois; r. j. Breckenridge, w.
B. Hakes and B. F. Nelson, of Kentucky;
q. E. sweazy, of California; Jacob Roberts,
Of Pennsylvania, W. F. Lander, of Massa-
chusetts; G. NJ. Schroeder aud Henry Tapa-
CHEN, of New Jersey, and David Parson, of
Michigan. The engineers are H. l. Bone,
J. Q. Baird, D. H. Panple and Surgeon W.
j. Elston, of Indiana.
The directors will elect E. Kennedy, of this
city, President, and j. H. Stewart, of the
Indiana Bank of Commerce, Treasurer. The
Auditor of the company will be Freeman
Wright, of st. Louis.