The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-12
AFFAIRS OF THE RAILWAYS.
Personal and Local

freight pool thus far reported.
W. j. Spicer who will succeed s. R. Galloway
as general manager of the Chicago Grand
Trunk is expected in Chicago this week to as
sumo charge of the Office
The Decline is sending East an average of
nine through freights daily, and the last few
days business over this road, so far as tonnage
is concerned, has been quite satisfactory.
The committee of seven to prepare bylaws
and constitution for the Indiana division of
the National Train Dispatchers' Association,
met last night and partially completed the
work.
G. c. Waite is spending this week in New
York with President Jewett, awaiting the latters
approval of his annual report, to be presented
to the stockholders at their annual meeting,
June IL
Charles F. Clugston, agent of the Grand
Rapids & Indiana at Sturgis, Mich, has been
promoted to the position of travelling freight
agent for northern Indiana and the State of
Michigan.
Commissioner Richardson states that the
statement of Chicago paper on Monday last,
that the Chicago and Ohio River pool office was
to be removed from indianapolis to Chicago has
not the least foundation.
Sunday next the Wabash passenger train
which leaves Indianapolis at 1l:30 p. NJ. and
arrives at A. NJ, will be taken off The Detroit
sleeping coach will be hauled nightly as far as
Kokomo on the c., st. L. & P. train.
Two new coaches were placed on the Vandalia
line yesterday to run between Terrs Haute and
Plymouth, Ind They were built at the Terre
Haute shops of the Vandalia, and are equal in
every respect to Pullman's best productions.
President Mackey, of the Evansville e. Terre
Ha,Ite, is getting over his economical streak. and
HIS assumed the aggressive and this week has
put on two ne " trains between Evansville and
ere Haute, running four trains each way
daily.
The New York, Chicago & st. Louis road
Nickel plate) has put on an express stock train
from Green Springs to Buffalo specially to be
in the interests of the l., B. e. W. road,
which connects with the Nickel-plate at Green
Springs.
Through travel eastward is very heavy and to
insure sleeping accommodations it is nee
essary to engage berths two or three
days ahead. The Boston sleeping coach
put on yesterday went out with every berth
and the state rooms occupied.
One of the fast-freight lines which reaches
Indianapolis over a roundabout route, yes
terday landed goods here shipped from New
York twenty-five days ago Although the
merchant got cut-rate, he will ship hereafter
by the direct route, unless the property is d
verted under the rulings of the trunk-liue
pool
A mortgage given by the Chicago & Eastern
Illinois railroad to the Central Trust Company
of New York, in the sum of Sc, 900 600, is being
filed at county the line The mortgage
is executed in accordance with the recent action
of the stockholders, is dated June 2, and
pires Oct. l. 1894. The mortgage covers the
main and all the leased lines of the c. & E. l.
There has been some underhand cutting of
rates by some of the local freight agents through
the issuing of 1,000-mile tickets at nominal
sum, road furnishing them at s. per LOCO
mile ticket A movement is now on foot looking
to the adoption of a uniform rate either $40 or
$25 per !, 000-mile ticket and an agreement there
after to strictly adhere to such rate is to be
entered into.
Commissioner Richardson, of the Chicago &
Ohio River pool has postponed the proposed
meeting of the presidents and managers of the
road IN the pool until June %. 1t is quite inn
portant that meeting be held early that
date, that some policy may be settled upon as to
whether the l., B. & W. shall be allowed a 70
cent diferential rate the reduced rates to the
Chicago Democratic convention.
O. w. Ruggles, general passenger agent of
the Michigan Central road, w. b. jerome, general
western passenger agent of the New York Cen
| trail d Hudson River railroad, o. E. Jenkins,
Southwestern travelling agent of the New York
| Central & Hudson River road. are in the city
These officials report travel as improving, of late
handsomely on all Vanderbilt lines and look for
HANDSOME earnings through the summer months
AS there are now fifteen roads in the country
i'll the hands of receivers and number of others
are moving in that direction it is suggested that
it would be well for the courts to be less lavish
| in fixing the salaries of receivers In ma Ori
| ty of cases If the receivers were the managers
| of any ordinary business estate it would be
| liquidated within a few months, but fat salaries
will induce those officers to postpone the period
until their income shows signs of being in de-
| fault.
! Possibly were General Manager Mclaughlin,
of the Globe line, to look the field over he
| would think Indianapolis, with eighteen east
| bound fast-freight lines well supplied and
would not open a Globe line Office. Certainly ne
! would not after careful investigation. One of
fba dom I,rci ha,a
has taken but two carloads of freight out of In
danapolis proper since February l. Still the
| agent receives salary of $3.50 per month pays
clerk $50 per month and $25 per month Office
rent, and it is stated that two or three of the
| other lines cannot make a much more favorable
| business exhibit.
Blight Follows Jay GouId's Manipulations.
Whenever report is put in circulation that
Jay Gould proposes to helpa road out of financial
trouble, it is safe to say that the road is the
down grade and will end in bankruptcy. 1t is
only question say some of the wisest railroad
men, when the Missouri Pacific as well as the
Texas Pacific will be in the hands Of receivers.
| The iuctuation of Missouri Pacific stock GER
tainly is not healthy in character. A stock which
! goes down on a dead run from about 50 to g.
! then shoots up to 81 again, is thing the
! average trader gives a wide berth to. That sort
of thing wipes out margins either way too sud
denly for comfort. OF the 100, 900 miles of rail
road in the United States, Jay Gould and his
friends control in the Missouri Pacific system
and the Wabash system, about tenth and who
knows anything about the securities of these
roads, or the value of the stockl The latter sys-
tenn has just passed into the hands of receivers,
and with regard to the former, curious law
suit has been going on for several years, which
rests upon evidence tending to show that the
foreclosure proceedings by which Gould
obtained possession of it, and on which
| fhn Nal1I If &11 at1pi-
ties depends, were fraudulent, and accom-
plshed when the property foreclosed was
perfectly solvent, by colusion between the man
ayers of the property and the trustees under a
mortgage, clapped on the road for the simple
purpose of foreclosure. The fact is that when
ever jay Could and his CLIQUE take hold of rail