National Republican., 1885-09-26
RAILWAY NOTES.


RAILWAY NOTES.
State Senator Edward b. Thomas, who has
been nominated by the Republicans of New
York as candidate for attorney general, is the
attorney OF the New York and Oswcgo Midland
Railroad Company.
The Wabash plan of reorganization having
been Gsscntcd 10 by S0ll2, ,OO0 out of sl60O,OD0
ofthc general mortgage bonds the purchasing
committee will issue notice next week limit
ing the time In which tho bondholders may
assent TO the plan.
The Greenwood, tLaurens and spartnnburg
railway has tcen formally Inspected by the
South Carolina commissioners and officers of
the Augusta and Knoxville and Port Royal
roads, and is opened for business.
The auction sale of the entire equipment and
rolling sieck leased BY the New England Car
road Company was begun, Thursday at Hurt.
ford Conn. The only bidder represented the
trustees. The lots sold brought sjSs, $50
An accommodation train on the CHARTERS
coal train on u siding near Mansfield. Pa, yes
tefday morning, wrecking the engine and bag
gage car, and slightly injuIing EngineeIr, Con-
None OF the passengers were hurt
The various Reading interests In the pro.
jcttcd South lcnnsy ly0niu airoud, we nrC In
iOimcd, says tie Philadelphia Ledger tinan.
ciul. have abandoned their tffjrts against the
will generally accept the terms offered them.
They also by this course will abstain from aid
ing lhc pending litigation oil the subject.
The suit Of the Reading Railroad Company
to enforce Its contracts with the South Penn.
sylvGnin was n great surprise TO everybody,
though 1t was decided some time ago By the
Reading management to take legal steps. The
suit If tuccessiul W i'll compel the completion
of the South Pennsylvania. The most import
ant effect of the suit will he to cause u new
breach betwcen the Reading and Pennsylva-
mia companies, and summarily end the recent
ably.
Rumor is circulated at Pittsburg, on what the
Leader publishes as good authority, 10 the
effect that q movement Is on foot to bring to
PiItsbury the prime mover in the South Penn
bilt, to answer the charge of conspiracy. 1t Is
claimed that in stopping work on the South
Pennsylvania road conspiracy, such as is
taken cognizance Of In law and equity, has
been uttered. ana the chances of conviction
hinge on having Mr.. Vanderbilt brought within
the state on reqnisition.
The Wall Street News says The Chesapeake
and Nashville road was to be built in the interest
OF the Chesapeake and Ohio. If citizens OF
Nashville would take S500,0O0 of the bonds.
The bonds were duly subscribed for and an in.
stallmeLt or instalimcnts paid. Then 1t was
Louisville and Nashville, and thereupon the
subscribers arose and sent letter to President
Huntingion, OF the Chesapeake and Ohio ask
VIII pay in no more money.
Chauncey Vibbard and General Manager
Swan, OF the Storm King bridge project, had
conference at Boston yesterday with some lead
Ing cotton manufacturers, relative to the build.
ing of the line uniting the eastern system OF
fonjs with the coal and cotton fields. The
manufacturing interests urge that work DO
commenced at an early day, and promised aid
and coal without rehnndling, and they also
wanted to save the expense OF commissions
and stealings. Messrs, Vibbard and Swan
pledged that the manufacturing interests OF
The east should have representatives in the
hoard OF management, and said the work
would commence this fall. ....
Aprcss dispatch from Chattanooga says: "The
| persistence with which the Western and At
| lGntic railroad Is endeayoring to provoke a
| general southern rate war is exciting much
comment The warning line yesterday made a
cut OF co per cent; on Texas rates. which tho
will not meet. Now the Western and Atlantic
| threatens TO cut the rate again, which will
force every southern line into the fight. The
| East Tennessee, Virginia and Georgia will
| probably cut rates TO many southern and east
eIn points, and the Louisville and Nashville
and Queen and Crescent lines will then be
| compelled to ioin the fight"
| A circular letter relating TO low.priced
stocks says; "Chesapcake and Ohio is trunk
line Teaching. through Its connections, into
nearly all the territory between which ana tho
Atlantic coast the heavy carrying business Is
|
nance, by more prominent trunk lines, of rates
| which would enable them 10 earn their in.
creasing fixed charges and the predicted diyi-
| dends on their enormous share capitals the
| Chesapeake and Ohio could Cut those rates TO
mn extent which would give 1t all the business
j could handle at prices which would increase
| its net earnings lar beyond the best that II has
ever fhown heretofore, and largely in excess
| of Its fixed charges" ..,tt.
The control of the Memphis and Charleston
railIoad has passed into the hands OF the East
| Tennessee, Virginia and Georgia railroad,
The tmali syndicate, headed by Gen. Thomas
and Calvin s. Brice, of the East Tennessee com.
pGny, has deposited with the Central Trust
| Company more than half of the Memphis and
Charleston stock, for which It viii receive first
mortgage bonds of the Knoxville aud Ohio
railroad at par. Messrs. Brce ana Thomas
Interes, In ~ the Wai3ch's Ridge r raiIroad TY and
the Coal Creek and oakdale Coal Companies,
| which gives them control of the coal pro-
dGCtiOn on the lines OF the East Tennessee
| lailioGd.
In an editorial on the subject OF the "Trans.
continental Pool" tie San Francisco Chroni.
Gle says The members Of the Trunscontnental
Railway Association ore realizing the truth OF
ods bpoSpp Tmy ne wnS oar
| the dihiculty Of conducting u business in
crearcs with Its extension. The larger II grows
Me harder Il Is 10 manage; 10 MIN MIN hye inlI part
| tude of the interests TO DO conciliated and con.
trolled seems too vast to be handled by sin.
gle mind The Transcontinentpl railway in
| iCTctt has reached the stage which empires
| have often reached In history, when they fell
| TO pieces from their immensely. one good re-
suit is likely to result from the. cut-thToat war
which can now hardly be avoided. We shall
Learn how cheap freight can really be carried.
| This IL problem which has never been solved
| IN this country. When first the eastern trunk
lines were forced by competition to carry grain
fTCm Chicago to the seaboard forts cents a hun
| dTcdwcight-say, half % cent a ton mile
they really thought they wero ruined. But
| presently The war increased in bitterness TO
| such an extent that iTeights were reduced TO
10 cents hundTedwoight, or about onc-ilth
of q cent per ton per mile And Mr., Wander
lilt IN hS evidceen before n committee. of the
! New York legislature, testified that TO the best
Of lis knowledge and helief lus road had
mGGe money In carrying grain at that rate.
What has Happened in the east may happen
| here. II has been sort OF axiom In California
that railroads could not 1.-Two unless they got ut
| least q cent and q quarter 10 cent nnd Il half
per ton per mile for carrying. freight They
| are now quite likely to have long experience
Of n very different scale of rates, aud It is pos
sihle that they may find that the lower rates.
will Yield as much net money Us the high
! rates.