The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-04-04

ton of rates and trouble generally, while the
more practical railroad men say it is the right
and proper thing for these roads to do.
SO far as the bringing on of a Generalization
of rates is concerned, they cannot well
be cut more deeply than they have been by some
of the competitors of the Pennsylvania lines
during the last twelve months General Passen-
ger Agent Ford expresses the belief that from
ing trains, while there are other
passenger men, not of the Pennsylvania
lines, however who express the opinion that the
character of travel is such between the seaboard
and the West and Southwest that the trains can
not be made 20 pay. Statistics show, however
that sales of frst-class tickets over these roads
have steadily increased from year to year, and
the increase has been, it is stated, fully 80 per
cent. in the last three years, and the
putting on of these trains will encourage travel
over this route. The new arrangements for run
ming trains over the western connections of the
Vandalia, as we'll, are such as to draw much of
the travel which has heretofore gone by the
way of Chicago to Kansas, New Mexico and
California via st. Louis, SO much more direct IS
the route, and so much time is saved.
The Pool Experiment To Be Continued.
Indications now are that pools will be estab
llshed on more permanent basis than ever be-
fore at Indianapolis, Peoria, Terre Haute, St
Louis, Chicago and Cincinnati. 1t may be some
days or weeks before all of the weak places viii
be made strong but there is a feeling among
Western railroad men that the trunk lines are
disposed to treat Western roads with more re-
spect, so to speak, than heretofore There is
no mistaking the matter; the trunk-line presi-
dents have been exercising dictatorial policy
beyond reasonable limit The best feature,
however, of the Chicago meeting was the pre-
valllng sentiment that something must
De done to secure better mainte-
nance of rates. Operating expenses
have been reduced to a NEUTRALITY-SUSPICIOUS.
must be increased and the only way to increase
them is by charging rates which will increase
the gross earnings. Whether pools insure bet
ter maintenance of rates is still mooted ques-
ton. 1t is quite certain that at the present time
the utility of the pool is very much under a
cloud. While, of course, the troubles which
railroad pools laboring under do not
demonstrate their entire impracticability or use
lessness, still they indicate very plainly that
they are imperfect and must be modified if they
are ever to serve a good purpose There are
certain excellent features about the pool which
ought to be retained. matter whether the pool
is or not, such, for instance, as fixity of rates
and strict impartiality to all patrons of the
roads. But there are also bad features of the
pool which are, in the main, responsible for the
failure of that system TO accomplish the good
which it was intended to do.
Better than Issuing Receivers Certificates.
circular has been issued from the Office of
the indianapolis, Decatur & Springfield Railway
Company announcing that that company had re-
entered upon the possession of its property in
consequence of the default of its lessee, the In
diana, Bloomington e Western Railway Com
pany. Subsequent to the reentry, under suit
for foreclosure of the second mortgage H
B. Hammond was appointed receiver by order
of the United States Circuit Court and the prop
erty is now in his hands. The circular states |
that the business of the road has been systemat-
ically diverted, while the income has been re-
duced to minimum, and the needs of the prop. |
erty to maximum. The equipment is in a fair |
condition, but it is deemed an imperative neces-
sity that the western end of the road should be |
renewed at once 1t is desired that the issue of |
receivers certificates be avoided; therefore, the |
bondholders are asked to accept onehalf of the |
interest due April l in cash, and to consent to
fund the other half. The circular is signed by |
X. L. Ashurst, trustee: j. d. Probst, chairman of
the bondholders' committee, and III. B. Ham
mond and I. B. Atkins, committee of the Indi-
annapolis, Decatur & Springfield Railway Com
pany 1t is really refreshing to read occasionally
a notice of the above character where the re- |
ceiver does not ask the court to allow him to is
sue receivers certificates.