The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1885-01-30

Col. Jonas II. French. President of the
Louisville, New Albany aud ST. Louis
Airline Railway. il At Louisville for
| the purpose Of assisting Receiver Evans
in placing the affairs OF the company inl
good shape. Interviewed by the Louis
vile Courier-Jo Journal. Col. French said
IN answer "a the question. "What dispo-
sition will be made OF the road through
The rcceivership?"
III Is too early 10 say much on the SUBJ
lject." he replied, 'as no plan Of action
has been mapped out l have come TO-
confer with The receiver and aid him all
| can ia getting everything in good
shape, 80 that the interests OF all may Re
taken care Of am the chairman OF a.
committee appointed At a recent meeting
or the Eastern bondholders 10 confer
with the Louisville honnholders. and re-
quest them to appoint two membcrs on
the committee. aud thereby secure unity
of action in any plans that may be adopt
ed looking TO the future welfare OF the
road. will meet the Louisville gentle
men and Law the matter before them, and
then go 10 New Orleans on business. 1
will return about February 10. by which
time they will probably act upon the
suggestion from the East. and hope 10
meet the members they may appoint on
the committee. The committee il in
structed TO make thorough invesiiga-
ton Of the condition Of the road. its ia
lcilities and necessities. aud report what
will be required TO put il in first-cIass
condition"
1T has been rumored very frequently
that the road was for sale What can
You say on that subject 2,
YES. such rnmors have been circu-
lated and have done the road great deal
of harm, though they were absolutely
untrue. Some men have fancied that
they could sell the road without authori-
lily from its owners, but they have not
succeeded yet. The road has never been
for sale, aud IL not now. or course. il
has encountered obstacles like any other
new road, which have interfered very
much with its successful operation, but
its owners have confidence in ifs future.
aud have at last succeeded in getting in
a position TO nurse il and bring II out OF
its troubles. In the frat place the origi-
nal cost Of the road was much greater
than the company had been led 10 think
IL would be. and the management has
not been able to bring II ont Of lie early
,, TROUBLES, though it has been doing good
and growing business right along. The
increase in its earnings during the last
} few months has been very gratifying,
and that too. In the face of serious draw
backs in the matter of rolling stock and
!. motive power, aud If 1t was well equip
ped now IL would be doing large bust.
. Iuess. 1t runs through fertile farming
!, country that will build up q first class
lroad. and which has been Of immense
! value 10 New Albany and Louisville
! since the road was opened. In view OF
! the financial condition Of the road, the
I bondholders concluded TO place IL in the
!. hands ofa receiver, in order that all the
: crediiors might be put on An equal foot.
4 ing, and all questions 10 dispute settled
!, under orders from the court"
"WilI the committee OF which you are
chairman consider a plan for the reor-
! ganizstion of the compsny!"
''They will first ascertain what IL nee
! essary 10 thoroughly eqnip the road and
!, place II in condition 10 offer faciitie.
J, Ito shippers and the country through
: which it passes. and kfter that is accom-.
! plished they will probably consider the
question OF reorganization, but their pri
mary object is 10 put the road on its feet
= which they now have good opportuni
:. lty to do"
"Will there be any conflict between
!. the bondholdtrs and the stockholders =
I, I'VE have no fear Of anything Of thu
! kind. The bondhnlders own msjoriiy
: OF the stock and il Is the intention 4
:, protect the interest Of all alike, and make
their property more valuable. The pas
wear has shown that the road can bt
n made first-ciass in all respects and tina
Ills what we are all anxious 10 accomplish
II No plan Of reorganization has been sug-
e lgested yet aud Of course nothing definite
a can be said on that subject. The matter
y will come up for consideration afteI
d those now In hsnd are disposed OF. WI
v feel satisfied that the road will work oy
It's own salvation IL II Is given chance.
"What do you think 1T the business
u prospects OF the country 2"
:, ~ think we are entering or bette
u and safer era. There will be q gradua
> limprovement in business and the rail
! roads will be the first to feel the return
4. of The better times. In fact they alread!
y indicate better feeling by their increas
8 led earnings. do not look for rapi'
resumption Of trade in all channels, bn
!, better times are coming, and the NOR
I, gradually they come the more solid ant
!, substantial the prospects will be-"
K Indiana Rafaufs