The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-02-03

and I4S ears Austrian Russia, Holland. Gtal-
ian, swedish, Indian, New South Wales tAns-
traliarp and Victorian roads have adopted the
brake, In the United States PAL roads use 1t on
1884 engines and Is, 347 cars. The increase in
the last two years is 4,672 engine and 22,7l6
car-brakes.
CONES HOME WITH THE " BLUES
Aquila Jones returned from the East yester
day, where he went to sell the Bedford, Spring
vile. Greensboro K Bloomfield road. He
failed in doing this although prospects arc fla
vorable that it will he sold at an early day. Mr.
Jones found that while there was disposition
to buy railroad stock and bonds there was a
timidity in taking hold noticeable. Capitalists
were holding their breath. he said, until the
tariff question was settled. While absent, Mr..
Jones visited Washington, and had tax with
the senators and representatives of Indiana as
regards the tarlh question: being greatly inter
esteu, the property of the new steel rail mill
depends upon favorable settlement OF the ques-
tion at issue.
WORRYING THE PENNSYLVANIA PEOPLE.
Parties who are well posted in the aflai rs Of
the Pennsylvania Railroad Company state that
President Roberts and his associates are con-
siderably disturbed over the hold Vanderbilt is
I getting in Pennsylvania. as his investments are
assuming vast prnDOrtions. Securing control of
the Philadelphia & Reading has not satisfied
him. Mr.. Vanderbilt's plans, already dcvel-
Oped, are quite comprehensive. He is building
a railroad which Will give the Reading north
ern and western outlet from WlltamspuTt, and
he has under way branch from Jersey Shore 10
! the Clearheld coal regions, where he has pur-
| chased vast area of bltuminOus territory This
/ road may be extended to JOhnstOwn, on the
| PENNSYLVANIA railroad, to connect with the Bal
| timore Ohio extension at that place. But the
! most important of all Mr. Wander bits schemes
! is the South Pennsylvania, a road which will
| parallel the Pennsylvania from harrisburg TO
/ Pittsburs and Wheeling. This line will be some
81 In ~ 1.-Two nj md W
! traverse a region rich IN agriculture aud mining.
Negotiations are now going on iii the interest of
/ Mr.. Vanderbilt for the Pfttsburg IL Lake Erie,
which line will be very valuable to him when his
! railroad is completed, and there other
| schemes, including an extension from Williams
/ port east to the Bradford county coal regions.
CLEAR SAILING AHEAD.
Alfred suliy, secretary, and J. d. Campbell,
general solicitor of the Indiana, Bloomington IL
Western road, bath in conversation with II Jour
nal reporter, yesterday, stated that the syndi-
cate which owned the property were well
pleased with it investment, and that the
stories they wanted to unload we're mere
"bosh." If the Chicago, Burlington & Quincy
or the Baltimore & ONO people wanted the
property, they, to get it, would have to pay
what it worth, and all talk regards
official changes ON the road we're equally ground.
less. From the general manager down, every de-
/ partmeut was managed very satisfactorily,
economically, and the business of the
system was fully up to their expecta-
| ton, and the earnings were such that
| they were a1le to pay their operating
| expenses, interest, etc, promptly Never had
| there been a time when there was not money
/ enough IN the treasury to pay several months
, interest IN advance. General Manager Hender-
son thus week met President Garrett and other
! high officials of the Baltimore Il Ohio, and was
assured by them that the Is. & 0. would do
/ everything reasonable TO advance the in interests
/ OF the L. B. ~ W. and went go far as to promise
! TO haul through coach for the l., b. ~ W. to
! New York when their line to that puluU was
! fully opened.
| sPECULAToEs FIX THE VALUE OF STOCKS.
A Bee Line official day two ago. when
questioned by Journal representative to me
cause Of the break IN e., c, c. & l. stock when
/ their business was so good and carried at pay
ing rates, remarked that nowadays the pros
perity of a road or its adversely had little to do
/ with the value of it's stock when in the hands
| of spectators; it not the business of the
roads which is Immediately responsible for
huctuatiOu in prices, but IL Is the business of the
| brokers' the largest operators, the specula-
| i've rings, sand the manIpulaJOrs of the cOHti-
! denoe of the public, which is responsible.
! At the present time 10 seems that
railroads are butt that the contractors, first may
make large sums of money; next I'll at the specu-
/ latnrs on stock exchanges may manipulate
| their stock and securities as to best meet their
wishes. The primary object OF railroads is the
/ transportation of freight and passengers at
such rates VIII afford more or less profit on
/ the money invested IN them. OF course those
who construct them make as much money as
/ they can on their contracts, In the way
| that builders make much as they can IN the
construction of houses. But after railroad Is
built its mission is TO serve the public upon such
/ terms as can he agreed upon. It's profits depend
/ upon the amount OF business it does and the net
/ earnings it derives from that business. But the
market price does not cOntrlOate in the slightest
degree to it's business success failure. 1t
! ought TO b. and in many cases doubtless is a
fair criterion of actual value. BUTT is not al
ways so, from the fact that, while the actual
business of u railroad must he demon st rated in
/ its earnings, the market price il matter of
| tickle opinion, which can he played upon IN one
direction another to suit the selfish interests
OF SPECTATORS