The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-04-28

liza. The only action of importance taken was
the instructing superintendent Whitcumh TO at
once purchase the material needed 10 extend
the Belt road to connection with the wa
bash and Chicago Indianapolis AIR
Line, and to as early as possible
get graders at work and push the extension.
Terms satisfactory to President Ingalls, were
agreed upon, by which the G., l.. 81. L. " u
trains will be moved over the Belt ROAD, ana an
effort is 10 be made to induce all roads 10 trans
fer their business over the Belt, and IL Is IN IN
minated that an arbitrary rate Will be put on All
through cars which are run over tue Oni9n
tracks. The question of closing the OUTSIDE
offices was briefly discussed and hatly stepped
on by Messrs Mccullough, McCrea and Mcheen,
and Mr. Ingalls, expressed himself as Indifferent
about the matter The several officials left for
their respective homes during the afternoon
ONLY NEEDED GOOD MANAGEMENT.
From an observing railroad official, who has
recently passed over the Louisville & Nashville
system, 1t is learned that NJ. H. Smith, who is well
known and well thought of in Indianapolis rail-
road circles is developing the business interests
of the road in a surprising manner. When Mr..
Smith took hold the roSdbed and equipments had
been neglected, and there seemed to be no
system of doing things in any department. Now
they are reorganized, and everything moves
along like clock-work. Gross earnings are I'M,
proving, net earnings increasing, ana
the roads are being operated with tine
strictest economy. This is one OF the
largest railway combin tk9ns south OF the ONO
river, and Mr. Smith has Rad difficulties 10 con
tend with which have been under-estlmaten,
and his success In dealing with them is not
generally known. In acquiring so many snort
lines and branches the company has been COM
PEELED to take them in a deteriorated condition,
both to rOadbed and equipm ent. Inc eX-
penditures in putting these In repair have been
IA heavy drain upon its resources, and have had
the effect of giving Wall street clears" the OPP
pOrlunity Of raldiug its stock. But the work mas
been quietly carried on, and improvements and
extensions have been made as fast as possible,
until now the lines are in a really excellent con
Tbnpa inn If
equal 10 any in the country, and the equip
ment is now full up TO the standard
ON THE WHOLE QUITE SATISFACTORY.
The business of the PENNSYLVANIA road proper
for March does not make so favorable an exhibit
as had been expected, although there is some
gain as compared with March, 1882, and while
the percentage of gain is only 7 per cent. the
total foots up to larger figures than were known
before August of last year. The operating ex-
penses, however, Increased nearly 10 per cent,
ana were 65 per cent OF the gross, footing up a
larger total than eyer before for single month.
Fortunately, the Western lines have done better,
The surplus for March, 1852, was only Soo,932.
This year thoge Is surplus for the month OF
$225,95l, making the net surplus for me three
months 1886, So, which is gain of Sis, Az
over the same period of last year.
The three months OF 1888 as compared with
the same period of 1882 show an increase in
gross earnings OF ST. ,23S,587, or 100 per cent,
an increase in expenses of $545,O99 or ~ per
cent, increase in net earnings of 1864, 4S3 or
1853 per cent. me IOllOWlng are tue HEurts lur
the last three years, as given by the Phlladel-
phla Press:
Gross earnings.....ss,3lI,3o s3,9l2292 s5lss$so
Operating expenses. 2,0i5,O7S 2,496,49l 2'733'953
bet arnings....sl'79e2 ss sl,n5soss sl,i'',ss297
For three months 1.-THE first quarter of the
year.:
Gross earnings so,12o,i3 slO,5923st Sill $50, 952
Operating expenses 1,96i'9i2 7,O22,6I3 7,2o7,773
Net earninss..s 4,l6t52y ss,569sss822 sis6as5s7::
THE HANNIBAL & ST. JOE PURCHASE CONCLUDED.
NEW YORK, April 27.-The negotiations which
have been pending for some time between the
Chicago, Burlington & Quincy Railroad Com
pany and the Gould syndicate controlling the
Hannibal Il st. Joe, were concluded to-day. The
papers were signed and placed in the hands Of
F. NJ Ames as escrow. Two-thirds of the pre-
ferred stock and $4,000 shares OF common were
represented in the transaction. The purchase
by the Chicago, Burlington a. Quincy involved
also a contract with the Western Union Tele
graph Company extending to all lines OF the
railroad company. There had been question
whether the contract with the Chicago, Burning
ton & Quincy extended to and embraced leased
and new lines, but this has been met by the ex-
ecution of II new contract. Both parties seem TO
reg nd the transaction as mutually adVanta-
geou5.
POOL CONTRACT RATIFIED.
NEW YORK, April 27.-The joint executive
committee of the truuk-line pool, passenger de-
partment, met yesterday. The pool contract
was ratified, subject to slight changes which will
probably be suggested vt subsequent meetings.
The understanding ia that until the changes are
made the same rates will prevail under the
operation of the pool will be discussed at meet
ings which will, it is said, be held next week.