The Indianapolis journal., 1883-02-23


The vandalia made application for fan increase
and the commissioner made its percentage 90
by taking per cent ifr0m each ofbne others
The other roads appealed to Charles Francis
Adams, jr., sending the appeal to Commissioner
Fink to be forwarded. The appeal has been in
his office since and Mr., Fink claims that press
of business prevented his making up the case
The manageDents OF competing lines OF the
NandaiIa look at the business in different
light than does the Vandalla management,
and are chafing, threatening to 'hust" the
rates. Meantime, Hubbard, of the Vandalia, is
worrying Commissioner Fink and all hands by
demanding even a larger per cent. of the husi
ness One thing is quite evident, however, and
and that is that the pool will needs be patched
up soon, or livestock rates will break badly.
ALL RIGHT ON THE BEE LINE SYSTEM,
i. B. Thomas. general manager, and W. II.
Turreff, general master mechanic of the Bee
Line system, are in the city. Manager Thomas
has been giving his personal attention TO repair
ing the damages on the Indianapolis & st. Louis
division, the chief trouble being at Terre Haute,
where the Wabash river washed out a heavy
embankment for distance of 5000 feet, cross
ties and the steel rails the entire distance disap
pearing with the flood. The break was repaired
last evening, and trains began running regular
ly between indianapolis and st. Louis without
transfer. Mr.. Thomas also states that matters
again all right at Cincinnati, passenger and
freight trains moving as usual-trains arriving
and departing at the respective depots of the
company.
ANOTHER STRONG POOL
After losing hundreds of thousands of dollars
by carrying property at suicidal rates, the roads
east OF the Mississippi and south of the OHIO
and Potomac rivers have entered into pooling
agreement, to be known as the Southeastern
Pool. Mr.. Ii. Powers ia general commissioner.
and is to be chairman of the executive commit
tee, and the eleven leading roads are to name
the other two, and Thomas II. Carter has been
selected as arbitrator. The general commits
sOner is the disbursing officer of the assucia-
ton, and all Green Lime business is placed in his
hands The board of arbitration decides all APP
pllcations for an appOrtioHm ent of business, and
the manner of appOrtiOnment is then set forth in
great detail Each company is required to carry
It's allotted proportions as nearly as possible,
and settlements are to be made for any
excess carried at rates to be fixed by
agreement or arbitration, burt no penalty is
to be imposed upon a company which ear
ries an excess for the benefit of any
distinctly agreed that reduction rebates or
considerations of any kind shall he offered to in
f1uence shippers to secure their preference for
any road or line. The members of the pool are
forbidden to deal with transportation companies
| that are not members, unless they first obtain
the consent of the association. This pooling ar
rangement is to be ended on the last day of this
year, subject, of course, to renewals without
limit by consent of the roads Interested The re-
moVal OF the chief office OF the pool to Atlanta on
! the lat of April was agreed to Just before the
meeting adjourned The contract of the associ-
ated companies consists of twenty five sections
and 1t is not likely that it would have been
spread before the public il its signers had not
been satisfied that it was iron-clad and impreg-
Iable.
RATHER RISKY BUSINESS.
The ups and downs of railroad stock at the
present time is becoming subject of interest all
over the country. railroad man yesterday
remarked that "witheut doubt the number OF
stockholders in the railroads of this country had
nearly doubled in the last three years, and there
were many parties now holding railroad stocks
in indianapolis who were watching the stock
market with much anxiety. He was almost
daily asked his views of the stock market,
aud felt that at the present time it was
no agreeable task to comment on the situa-
tOn, as unless he hit IL by guess he simply
exposed his individual ignorance of affairs.
the truth is, he added, that nobody fully COM
prehends the exact status, and nobody can tell
The probable result of scores of antagOnistic in
tcrests, pulling In almost as many directions,
which is no eNaggeration of facts as they exist
in Wall street to-day. The railroads are in some
instances suffering temporarily from storms and
the failure of farmers TO send the crops to mar
ket, but the outlook for freight and passenger
traffic is good. General business is fair and
money is plenty all of which favors an advance
in the value of railroad securities, and he really
was "A bull iu the market; yet man who dealt in
stocks places himself iu the hands of Wal-street
spectators to a great extent, and from them
need expect no mercy If be chances to get bit.
There were stocks IN which It was safe TO invest,
and a man who proposes to deal in stocks
should post himself fully, at best it
was rather rlsky business. Few
of the stocks were none too high,
but majority were not worth so per cent, the
price at which they were quoted. The Louisville
~ Nashville, for instance, was quoted at So,
making 1t worth S1.lO, when he Thought it was
not worth 10, and there were stocks in jay
Gould's system quoted at 35 to 40 which were
not worth one mill on thousand dollars, yet
there were green people always ready to SINK
money in them. He added, the fact il that there
Is little firstclass stock offered on the market.
Stock on such roads the Terre HduJe & IN
dianapolis the Illinois Central the Chicago d AL
ton is held by parties q permanent invest
ment, which was true of all regular dividend
paying roads.
RAILROAD CONSTRUCTION LAST YEAR.
CHICAGO, Feb. 22.-The Railway Age viii pub
llsh a summary of the railway construction OF
the United States for the year 1882. The ac-
count covers only main tracks, and shows con-
struction in fortyfive of the forty-s even States
and Territories, on 342 lines, an aggre gate of
IL ,343 miles, or about 1000 miles more than in
1881, which exceeded any previous year by g.
600 miles. Construction is divided as follows:
Five New England States, 53l2 miles; four Mid
die States, 1,3l5+e miles, five Middle Western
States, 2,0774o miles; eleven Southern States,
1,490l9 miles; four in Missouri river belt 2,063 o
miles, five in Kansas belt, 2,l5714 miles; five in
Colorado belt, l,1o5 Amiles; six in Pacific belt,
1,020 miles.
Real Estate Transfers.
Instruments filed for record in the Recorders
office of Marion County; Indiana, for "a hours