The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-10
AFFAIRS OF THE


apolis division yesterday.
j. C. McQuiston, late road-master of the c..
f., st L. & c., has accepted a similar position
on the Missouri Pacific system.
G. T. Henderson, general manager, and II. {.
Diehl, general freight agent of the l., B. & w
road, leave this evening for New York.
w. b. Williams, late agent of the Red line at
Chicago, was yesterday appointed general trav-
cling agent of the l., B. & W. road. headquarters
Indianapolis,
John EVAN, superintendent of the Bee-line,
and other members of the family have gone to
Michigan. their former home, for two or three
days stay, The party travel in a special car.
The counsel in the Illinois Midland
case were yesterday notified by Justice Harlan
that he would meet them at 2 P. NJ. to-day IN
Chicago and fix upon a day for the foreclosure
sale of the road.
C. w. Fairbanks. solicitor of the l., B. Sc W.
road, started eastward yesterday, and before his
return will visit Boston. He goes to look after
matters in the interest of the Danville, Olney Il
Ohio River road.
A party of capitalists, of Vigo county, Ind;
went West yesterday over the L. q st. L., and
the C. G. A, en- route for Kansas. The party
Travelled in a special car. While absent they ex-
pect TO invest largely in Kansas lands.
President Jewett, of the Cincinnati, Hamilton
& Dayton, was the last to stand out, has
signed the indianapolis pool contract. 1t
is expeeted that Mr.. Fink will order the pools at
St Louis, Peoria and Indianapolis to begin on
Monday next.
If reports are true the young man who looks
after the business of the Traders Dispatch at
this point needs the attention of Commissioner
Fink. 1t is openly charged by competitors that
he is securing a sharp drive of business by un-
serbiliing weights.
Commissioner Fink has called the meeting for
Wednesday. June IL, of the Chicago committee,
to agree upon a modification of the contract for
q division of the Chicago traffic, and to consider
the commissioners recommendation as to per
c~entages. On Thursday the joint executive
committee will consider an advance in tariff
rates
As the railroad reporters of the leading West
ern Journals manage to get hold Of commissioner
Finks most important circulars, would it not be
well for him to mail them direct to newspapers
who publish railroad departments. 1t is not
always pleasant for a reporter to slip in at a
general managers Office and haul over his papers
to hunt up commissioner Fink's circulars,
Through car service between st. Louis and
Boston, Mass, over the |. Il st. L.. Bee-line,
Lake Shore, New York Central and Boston &
Albany roads, has been established. Five Wagner
sleeping coaches have been fitted out specially
for this line. The Boston car leaves Indianapolis
at 6;l5 A. NJ reaches Boston at 2:40 p. NJ. next
day; leaves Boston at $3.50 P. NJ, reaches Indian
apols at 1915 P. M. next evening.
The appointment of John B.. Carson as gen
eral manager of the L., n. & c. system does
not affect the traffic agreement entered into by
the road with the c., l., st. L. c. some four
months ago. The whole matter hangs fire until
the piece of road is completed that connects the
L., N. A. & c. with the Chicago & Western
Indiana. With this completed the original
traffic agreement goes into effect.
In the first sixty days the Chicago and Ohio
River pool was in operation the old management
of the L., n. A, d c. made eighteen complaints
that the pooling agreement was not being lived
I'll tn by their pOTnnntitOpS SiOca the VO11pU man
stepped down and out and the present manage
ment took hold, not a complaint of irregu-
larities has been lodged with Commissioner
Richardson by the L., n. A. & c. people against
its competitors.
NJ. K. Jessup sailed for London on the Aurania
last Saturday. 1t is stated that Mr.. Jessup will
confer with Gen. Pavy, who represents Wabash
interests in London, about funding the coupons
of the Wabash general mortgage bonds for three
years, and etfecting a general plan of reorganiza-
ton which will be approved by English holders.
1t is stated that about 81. 200. 900 Wabash paper
has been turned in, and receivers certificates
demanded for it.
Put Them Through Bankruptcy the Old
Fashioned Style.
The proposition of the financial managers of
I5hs Wabash road to give holders of the defaulted
bonds income bond scrip, bearing 6 per cent. in
4erest, to be paid out of the net earnings in ex-
cess of fixed charges, is not looked upon by bust
ness men or practical railroad men with favor.
There is a feeling that it is only one of Jay
Gouids tricks to squeeze more money out of the
property. 1t is we'll understood that he has
never put a dollar into it, and this last move is
evidence that he does not propose so to do.
Like the Philadelphia & Reading road it is over
loaded with debt, and the only method left for
obtaining relief is that the two roads go through
bankruptcy the Die -fashioned style, and
the sooner the courts so rule the better opin-
ion viii good business men have of them.
There are successful honorable railroad and
business men who are of the opinion that Jay
Gould is nearing the end with his tricky schemes.
It is well known that Mr.. Gould has borrowed
large amounts of sterling exchange, giving as
collateral some of his favorite securities. This
has been a favorite mode of raising the wind
with two celebrated fnancierS of recent note,
neither Of whom now possess an enviable repu-
tation, though both of them at the time of such
negotiations occupied as proud a pinnacle on the
temple of financial reliability as Mr.. Gould now
does. The last previous specimen of a sterling
exchange borrow was Mr.. Ferdinand Ward, who
extracted about 81, 900, 900 in that manner, and
now reflects over his ability in the halls of the
Ludlow street Jail. The next previous noted
raiser of the needful on exchange was Mr.. Henry
Willard, whose brilliant career came to an end in
% most disastrous fashion. He was cleaned out,
and so were all his friends, and Jay Gould is
seemingiy travelling the same road.
4 Matter in Which Train Dispatches Are
Interested.
The following letter was sent last evening to
he chief train dispatchers of all Indiana roads:
INDIANAPOLIS, Ind, June 8.
In accordance with a general call made by Mr.. VIM.
Marshall, of Louisville, KY, for a train dispatchers'
national convention. to be held at Louisville, Ky, Au,
gust 20, 1884, for the purpose of organizing a ma.
Sional train dispatchers' association, a meeting Of the
train dispatchers of this and adjoining cities was held
On this city, Sunday evening, June 2S, and a Temporal
~ organization effected. A committee of seven was
appointed by the chairman to draft a constitution and
bylaws. TO be presented for approval or amendment at
meeting called for June %, at the Office of the c., H.
81 railroad. in this city, at 5 o'clock P. NJ. AT this
meeting, it is our desire to effect a permanent organi-
cation of the Indiana division of the Train
Dispatchers' Association of the United States
and Canada, y and to appoint delegates to attend the
national convention, at Louisville, Ky, August 20.
W. vv0uId no r1a COL fo hove vm, ond &C ,a,,-n 800