The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-07-23
THE WEST SHORE RAILWAY.
Vigorous Language in Reference TO Wander
bits E'Stand-and-Deliver"P Policy.
New York Special.


New York Special.
Receiver Theodore Houston, of the West Shore
railway, in speaking to-day Of Mr.. W. H. Van
derbllts statements about the West Shore, said:
II think the most interesting feature of Mr..
Eanderbilt's interview is his aptire change of
position in regard to the West Shore In all his
previous interviews he has disclaimed any inten
ton or desire on his part or that OF the New
York Central. to acquire the property. Now he
says: IF someone else wants it, he must under
stand that the war is not yet settled, and will
not be until we have the West Shore. What is
the meaning of this change Of frontE | think it
can be found in the next sentence: This fight
ing bankrupt corporation is. tedious
work, | tell YOU, Mr. Vanderbilt is getting
tired. The New York Central stockholders,
whose dividends have declined from to 2 per
cent, with the certainty that they will cease
entirely. are weary. Owners Of railroad proper
ties here and abroad, and the public generally,
are Justly indignant that the railway Interests
of the country and business of all kinds should
be kept IN a state or depression and d6moraIlza-
tion by ruthless and senseless railway war
carried on for the avowed purpose of enabling
syndicate Of wealthy spectators to avoid loss
through a bad investment in Pennsylvania, and
of destroying for the time being the magnificent
West Shore property created under the laws OF
this State with American capital in order that
it may be captured by rival corporation. There
is another point to winch [ think the a. -H''""
Of the public should be called and that is Mr.
NandeTblits remark that all the business
the road does is stolen from the Cen
tra. The merchants, manufacturers, and
producers Of the empire State and Of the United
States should ponder it well From Mr.. Van
derbllts standpoint, the money which they have
set apart for the purpose of transportation is
the property of the New York Central. If they
elect to travel or ship their goods by the West
Shore, they aiding and abettinc a theft
Money they pay for freight or passage is stolen
from the New York Central"
How about this statement that the road is
run at loss Of 100000 year,"
ut is not true, after excluding the interest &C
count. If the bondh0lders will set aside that sum
they Can run the road at present rates, pay all
its operating expenses, and maintain the bust
ness for the next eight years, and, in my iudg-
ment, they could not do a wiser act that to set
aside 10 per cent of their holdings for defense
IN war on their rights, which has been waged
for the past eighteen months, but has never been
openly declared until now. The fact that the
ammunition is ready would 90 moro to settle
the war than anything else and very little would
have to be used"
Suppose it should be the fact that Mr. Van
derbilt had actually bought majority Of the
" est Shore securities would he not control the
future Of the prOpetty|
Probably; and no one could object to that
method Of acquiring control. There is no law
or reason to prevent any man body OF men
buying railroad if they want it and are able to
pay for it. but there are methods used in Wrest
ing property from its proper owners which are
open to just criticism and condemnation. Ship
pers by the West Shore have been constantly
warned that the New Yorlz Central would event
ually control the West Shore, and when that
should take place they would be made to suffer
for their doscrtion. This has been denied, but
the truth is we'll known, and can readily be ac-
cepted when taken in connection with the
last threat to the bonGholders, which
is in substance follows: If you
do not give the New York Central the
control Of your property we will continue the
war until you compelled to. Ii you dare to
SELL the road to any enc else will treat the
purchaser in the same way. This cannot be
called strike Or blackmail, but comes under
the stand deliver order of things 1t has
the merit of an~open challenge, and if it is
not accepted the bondhoIGers DO not understand
their personal interests and the business men of
New England, New York and the great cities of
th8 West who have given the enterprise the
stamp Of their approval by throwing upon the
line a large business, viii lose an opportunity
which they have long sought to emancipate
themselves from the grasp Of corporation
which knows no law except that of force. The
duty of the bOndholders is to organize and pro-
tect their property When they do this they
will show degree of strength which will enable
them to ward off successfully all attacks, and
the war of determination viii speedily come to
an end.