The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-03
THE NEW YORK NEW ENGLAND.
A Road Wrecked by the Manipulation of
CIiques After Four Years Struggle.

a Road Wrecked by the Manipulation of
cliques After Four Years Struggle.
The announcement that the New York & New
England road had dropped into the hands of
receiver was not surprise to persons who have
watched the movements Of those who sought to
wreck the road to crafty jealousies
and'H -Spetty spites. From the day
that James H. Wilson, a Western railroad
man, accepted the presidency, his every move
has been fraught by a certain clique who in
furtherance of theiI" interest cu1Tied favor with
certain New England papers that through them
they might abuse him and his management.
Eighteen months ago. when S. NJ. Eel
ton, another Western railroad man who
ranked among the best, accepted the
general managership their antagonism grew the
more bitter; and as he ousted incapable men and
brought Western men East of the character of
T. F. Bent, their howlngs knew no bounds; but
under the management of the officials above
mentioned the road-bed has been placed in ex-
cellent condition, and no road in the country is
better equipped Fine passenger and freight en-
gines Pennsylvania standard have taken the
place of locomotives only fit for the scrap heap
Passenger equipments as well are now the fin
est in the country. In 1883 there was expended
for permanent improvements 81, 597 $40 81, the
principal items being those given below: Exten-
sion of double track, $744, 24l IS; new sidings
$273, 04S. %; equipment, $40, 704 80; new build
ings and additions, $99, Sl9.79. With these i'm
provements the business of the road has steadily
Increased. The growth of their freight business
is shown by the following statement The fiscal
year, 1879, carried &c, 654 669 tons one mile: 1880,
367S 700 1881, a. 562 500 1882 I03 Sos 653; 1888
l53. 2l3 $40. 1t viii be seen that over four times
as many tons were carried in 1883
as in 1879 Their passenger business also
has developed wonderfully. More especially will
this remark apply to suburban travel. The com
pany operates 41S miles of road, The manage
ment has Just got matters systematized and in
shape to greatly increase the earnings of the
road, and now clique which has fought the
management for four years past will come in and
reap the benefits of President Wilson's, Manager
feltons and Superintendent Bents labors. The
present equipment of the road is Isl engines, two
paIloP coaches, 147 passenger and combination
coaches, forty-one baggage, mail and express
ears assd 3, 734 freight cars The company has
paid out for terminal freight grounds in Boston,
and Tor improvements thereon, 81, $40 442 16.
The filing of the terminal grounds at Boston has
progressed as fast as the territory was required;
and OF the 100 acres owned by the company,
elghtycigh acres are now in use on ready for
occupancy
The capital stock of the road actually issued is
81, l37,0 600. The mortgage debt on the road
proper is 81, 38 600; funded debt, incurred for
purchase of real estate secured by estate pl1r-
chased, 81, All 532; current liabilities. 81 3d.
2T6. a. making the total Indebtedness of the com
pany $35, S24, 2G7 20. In Eastern railroad circles
1T is believed that the fight will end in the road
being sold and bid in by the holders of the first
mortgage bonds, unless some Of the trunk lines
should take the orphan read in, and make it their
Boston outlet. Ii would be a valuable property
10 either the Erie OF the Pennsylvania railroad
company, both Of which work their New England
traffic largely over it.