The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-21

holding the repudiated tickets are elected
from a train, their only recourse is to
sue the Wabash company, get a judgment and
then find that the Wabash company is i~nsolvent.
Such passengers, Col. Blodgett claims, can not
sue the receivers, because the receivers never
issued the tickets, while parties holding them
claim that Scion Humphreys was president of
the road when the tickets were sold, and that
the sale met with his approval. Possibly the
holders Of these tickets are not aware of the fact
that when j. G.. Gault was general manager OF
the Wabash he offered to redeem all outstanding
tickets, allowing q profit of 10 and 20 per cent
to the holders. This offer was rejected. Col.
Blodgett further claims that it would take a
year at least to consume all the old wabash
tickets If every passenger going to Chicago was
to use none but them, and that it would be, on
the part of the receivers, equal to hauling pas
sengers between these two cities for that length
of time for nothing.
A Brief Synopsis of President McKeen's Re-
port.
The annual report of the Vandalia Railroad
Company has been issued in pamphlet form. The
report is made up in three parts, one devoted to
the Terre Haute 6 Indianapolis division; another
to the st. Louis, vandalia & Terre Haute divi-
sion, and the third to the Terre Haute &Logans-
port division. A short time since quite a full
statement Of the st. Louis, Vandalia g. Terre
Haute division was given, on the occasion Of
their annual meeting. To-day we give a con-
densed report of the Terre Haute & indianapolis
division, and of the Terre Haute & Logansport
division. The earnings of the T. II. s. 1. di-
vision were as follows:
Gross earnings 81 97, 6s977 81, 2s5 4S2 so
hxpehSeS-----.----- SS0,OSO.0l oozt1A1'oo
Net earnings 1900 S4O4, 1926 $433,310.G5
The gross earrings euualed $16, 343. 70 per mile
Of road. The PXnpnSrS absorbed GS S6 Dpr cent.
of the earnings. The net earnings, $404, lO3. 26,
were 500, 207. SO, or 6. "a per cent. less than the
year previous. This falling off of net earnings
was caused by an increase of 4. 81 per cent. in eX-
penses, against an increase of only 80 in gross
earnings, The betteTment to the property-per-
manent way, structures and equipment
very much more than offsets the
increased expenses. There are on
this division forty frst-class locomotives. 1t has
expended 500, 236. 81 in Improvements to the
road bed of this division. The earnings of the
Terre Haute 81 Logansport division were as fol
lows:
Gross earnings. ss1s 5 .Sfs..25 ssa 1H .S52. 80
Expenses 376, 642.S3 377,S68.09
oss....... $62, 73O.os $56, 615.78
The rental of this division is % per cent. of
the gross earnings, OF $78, 47a. 06, making q net
loss of $141 ,208. IA. President McKeen, in sub
hitting the report to the stockholders, says:
Although the tonnage has been decreased, the
earnings show an increase, while the increased
expenditure is amply compensated for by the
betterments to your property, which maintains
its high standard of excellence. The Terre
Haute y LoganSport Railroad company is eX-
tending its line from Logansport to South Bend,
Ind, which, on its completion, during the cur
rent year, will be operated by your company in
connection with the Terre Haute & Logansport
division. This line will open q territory hereto
fore inaccessible to this company, and which tits
believed will prove a valuable feeder" The
earnings of the st. Louis, Vandalia & Terre
Haute division, as before published, were as fol
lows:
1888. 1882.
Gross earnings. .-... 81, 700, 95406 SL598, 125.47
Expenses 1906, 067.12 1857 60.07