The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-19
AFFAIRS OF THE RAILWAYS.
Personal and Local.

I s. f. Shay, Of New York foreign agent Of the
West Shore line, is in the city prospecting for
business.
W. Hibbard, general freight agent Of the
Vandalia, spent the Sabbath in the city, the
guest of his brother Yank Hibbard
The Yandalia last week brought into this sta
ton 2G5 carloads of live stock; the L 6 St L.,
Iss; all but few carloads were shipped east
ward.
Nr Osgood, one of the largest bondholders of
the Toledo Cincinnati & st. Louis road, has
come out strongly in favor of Austin Corbins
! plan of lifting the narrow gauge affair out Of the
mire.
James McHenry, says the Cleveland Leader
| sis assuming threatening attitude toward the
! Bee-line management" This is no more than
McEfenry has done for years past, but he has
accomplished nothing.
T. G. Higgins has been appointed purchasing
/ agent of the Lake Shore road vice A e: Arm
strong relieved. Mr.. Armstrong has held the
position for seventeen years and was quite I'M
expectedy set out in the cold
1t is important in the present situation that all
concerned should keep it in mind that, so far as
can yet be discerned, the panic is distinctly and
almost exclusively a railroad stock panic 1t
has but little effect upon the prices of anything
but railroad stocks and has not affected railroad
bonds except in a very few special cases,
Horsemen are now complaining that rates
! east bound have been reduced on all kinds of
live stock except horses. 1t would be well for
these complaining horsemen to bear in mind
that the animals they ship usually much
more valuable than cattle, hogs OF sheep, and
more likely to receive injuries for which dam
ages could be claimed
The freight agents of the roads in the Chicago
81 Ohio River pool met on Saturday in Commits
sioRer Richardson's Office to hear the report of
the committee appointed to revise and properly
adjust rates to Ohio river points This report
was approved Of Through this readiustment
on many articles there is a reduction from old
rates, and in but few cases is there any advance.
The general managers of the roads in the east
ern pool meet in New York again this
week to endeavor to establish the
pools at indianapolis and Peoria
Commissioner Fink is said to be considerably
disturbed that there is so much dilly dallying in
the matter, and the trunl-line presidents are
anxious lest he should get his Dutch up and
resign in earnest
The fast express train over the Louisville &
Nashville road northward makes 'close connec-
ton, under the new arrangement, with the fast
express north over the Jeffersonville, Madison &
Indianapolis road. The j., NJ. g. l. train, IN
turn, connects closely with the Decline, and this
promises to be popular train for the New
England travel so close are the connections and
so good is the time made.
That west bound tonnage has been so heavy
for weeks past over Indianapolis lines is mat
ter of comment, and doubtless is in greatness
ure due to the excellent time many of the fast
freight lines are making. What are known as the
direct lines are landing New York freights in In
,fanapolis in sixtyeight to seventy hours; Terre
Hatlte and Evansville in seventy-tw to seventy
six hours; and occasionally even better time is
made
The Continental Improvement bondholders of
Philadelphia have consented to the issue by the
Grand Rapids & Indiana Railroad Company of
certain bonds which shall take precedence of in
j come bonds forming part of securities pledged
for redemption. The new issue is to be used IN
settlement of debt owing by that company to the
Pennsylvania railroad, and also consent to the
disposition of certain securities for this purpose
held by trustees.
It is now utimated that President Corbins
scheme will give the indianapolis, Bloomington
& Western road entePance into Cincinnati as
well as ST Louis Tomorrow there is to be a
meeting of the Toledo, Cincinnati & st. Louis
main line bondhoders. at the office of the Corbin
Banking Company, l15 Broadway, New York at
II O'clock A. NJ. to discuss and act upon pian of
reorganization which will work in perfect har-
mOny with the st Louis division and the DAYTON
division, and at the same time leave the control
Of the property in the hands of the present first
mortgage bondholders.
Peru, Ind, usally ships 800 to 400 carloads
of corn year. In the last twelve months but
two carloads have been shipped. From Fit.
Wayne double that quantity has been shipped
annually. This year the Wabash road alone has
delivered 400 carloads OF corn at TT Wayne,
An official Of the road says that similar
statements can be made in regard to all
stations on the Wabash road in Indiana truth
fully, and really it is a surprise that the earnings
of the Wabash from its local traffic have been
so large as they were for year past, so great
were the failures of the crops in 1883,
Without doubt so far as the initial road is con
cerned the local passenger agents are maintaining
rates more strictly than at any time for years.
What rate-cutting is done is by dividing com
missions Several local passenger agents are
paid handsome commissions by connections of
the indianapolis roads which in many cases en-
abIes them to favor party purchasing ticket
$3.50 to 50 and still pay them well for their ex-
ira talk to sell the tickets The general passen-
ger agents of such roads feel secure as they can
readily and truthfully prove that the initial road
got its full prorate on the ticket sold and the
local passenger agent who gets the commission
is out of his money only until his monthly set
Element comes round.