The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-16
AFFAIRS.OF THE RAILWAYS.
Personal and Local.

The next regular meeting of the fast-freight
Dimes will be held at Buffalo, N. Y, Oct %
1 Commissioner Richardson, of the Chicago g.
Ohio River pool. is in the city for day or two.
G. M. Depew has been elected director OF the
C., O., C. G. l. road, vice J. Fl. Rutter, deceased
w. Il. Stark, general superintendent of the
C., Fl. G. d. lines, is in the city on official bust
mess.
J. Il. Devereux, president of the Bee-line. has
gone to New York, and will be absent week or
anoro.
H. s. Julier, general superintendent of the
American Express Company, is in the city tax
sng soundings.
President Dowd and the Eastern directors of
She L.. NJ A. & q. road, left Chicago for New
York yesterday.
John Egan, general passenger agent Of the
C., l., ST. L. q c., is in the city, and this morn
tne will go West on the pay-car train.
The federal court has authorized Receiver
Hammond, OF the l., D. & s.. to issue $15,OOO OF
receiver's certificates for the filing of Sangamon
hrestle near Decatur.
W. p Griswold, formerly chief clerk in the
general freight Office of the Chicago q Atlantic,
has been appointed city freight agent, at Chi
cago of the Michigan Central railway.
s. L. Sutton, who for twenty-six years has
run an engine on the Bee-line, who was for i'm
aginary dsobelience of orders, when running over
ahe Dayton & Union division, suspended for sixty
days, takes his engine again to-day.
Southern tourist tickets to twenty-six South
y arm points were placed on sale at the Union
Depot yesterday. Round trip rates based on
&4455 from Indianapolis 30 Jacksonville, Fla.
Tickets good to return until June l, 1886.
East-bound rates. it is believed. are being
maintained to the letter. 1t is claimed that all
the roads have cleaned up their old contracts and
ars ready to meet the demand for full proper
4ions from the Eastern trunk lines by exacting
their own at this end.
The Pennsylvania Railroad Company will
grant reduced rates to the convention of the
. Women's Home Missionary Society M. f..
Church, at Philadelphia, Oct. %. and to the con-
seotion of the Women's Christian Temperance
Union, at Philadelphia, Oct. 30 to Nov. 1.
The railroad situation is no doubt undergoing
Talical Improvement, and while the existing con-
dition of affairs is far from being satisfactory.
and time Will be required to reflect the actual re-
suits of what is now being accomplished, the
public is daily gaming faith in the honesty of the
efforts that are being made.
The local passenger agents met yesterday to
talk over rate matters. One line seems to have
been cutting rates through one of its steamship
agents. On the promise that there would be no
more such business, this trfipg with the pas
seDger agents agreement was overlooked, and all
hands again agreed to restore rates and strictly
maintain them.
Steel rails that in July last were almost I'M
Saiable at $26 per ton are now difficult to buy at
go for anything like prompt near delivery,
and the demand indicates that requirements are
increasing. The general manager of one of the
indianapolis system of roads was unable last
week to contract for new rails earlier than Octo-
Der delivery at the highest quotations.
The Indicator says watch has been set upon
the Hoosae Tunnel route agents to report cutting
Of rates. The tunnel route is evidently a 'sus
pect" The ironclad agreement to maintain
rates is about week old, and suspicious" of
rate
ground for suspicion is the heavy increase in
west bound shipments by the tunnel line.
The Wabash road gives notice that a freight
agency has been established at Harvey, Ia, on
tfhe Iowa division of this railway, with 8. A.
Walker as agent. Freight shipments for this
point may be received without requiring prepay
iment in future. The freight agency at Wood
land, Mo-, on the st. Louis division of this rail
way has been abandoned All freight shipments
Nor this point must be prepaid.
The situation with the east and west lines at
hhe present time is rather an unusual one. The
roads have cars enough to comfortably handle
the business originating on their own lines, but
have to furnish connection. Take the
Bee-line people: they yesterday had orders for
ears from four Western connections, none of
which they could fill. The same is true of the
Wabash road and the Pennsylvania lines.
The Kankakee line will, within the next twelve
months have better accommodations at Chica
60 1t is announced that the Illinois Central
fially agreed to proceed with the building of a
passenger depot on the site now used for that
purpose, the work to be commenced as early in
the spring as the weather will permit TIE
plans prepared contemplate a structure to cost
$250000, substantial and applicable for the pur
pose
The Terre Haute 6 Indianapolis railroad
management should be credited with doing
more for Indianapolis in the way of furnishing
cheap coal than have the coal operators in the
hloek coal mines CLAW county Recentlv tho
IL & I. has reduced the rate 10 cents per ton,
making it now 60 cents per ton to Indianapolis
dealers. But three years ago the rate was 81 per
ton, but it has dropped from time to time to the
present rate. On but few, if any roads in this
country, where the road has such a monopoly of
She coal traffic, has there been in three years
reduction of 80 per cent. in rates.
At several important business centers efforts
are being made to induce the railroads to run
what would be called shopping excursion trains
20 such centers one day of each week, at re-
duced rates. Railroad men. however do not ia
vor the proposition. They say the scheme would
mot pay. In substance, 1t would hurt the freight
business, and what would be gained to the pas
Isenger department. would be several times over
lost in freight receipts. Charles o. Scull, first
assistant general passenger agent for the Penn
sylvania Company, says: 'Such excursions
would be antagonistic to the country merch ants
who would complain because the roads would
harl their customers at cheap rates to the cities
Stock of the c., c., c. 6 /. (Bee-line) still
continues to move up, and is now at the highest
point for many a month, and parties who bought
at $50 and $34 per share are feeling good over it.
There seems to be boom in stocks all along the
line. Manipulation may be at the bottom of it.
A couple of months ago. when stocks and bonds
were selling ten to thirty points below present
4 prices no one would buy, while at present there
is an apparent eagerness to take hold of every
thing known to have a strong backing. This is
due TO present as well as prospective improve
ment in the railroad situation and the belief
that an earnest aud successful effort is being
made to covercome the Generalization of the
past
Sending Good After Bad Money.
The fact that such stocks as the common stock
OF the Wabash, the Reading, and dozens of 9th