The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1885-06-17

sAINANtA EAtEAs> --sv 81 ~ NiNpea@-
LITTLE NoIsE-Some over-c0nhdent Eng
lislmen beasted few weeks ago that :. The
Flying Dutchman train, from London to
Liverpool, was the fsstest in the world. Bzt
they soon found out they we're mistaken.
The Pennsylvania Railroad Company sends
a train out OF New YORK every morning that
beats the time Of the Flying Dutchmar.
Considering the distance covered, ii is the
fastest train in the world When the care
worn business mar journeys from New York
to Philadelphia, Chicago or 81. Louis, be
finds in the parlor cars of the Pennsylvania
Railroad q luxurious home on wheels. As
be is being whiried along AZ the rate of sixty
miles an hour or better, not a jolt disturbs
his serenity. The rails rest on a bed bal
lasted with solid rock and the joints are
made with kind OF chair and fish-plate, OF
the cornpany's own make that cause the
miles Of track to be as unbroken as one long.
jointless rail. There is no dust, little noise,
and not a einder. A few weeks ago there
were put on number of ney parior cars,
finished at the cempanys shops at Altoona
Instead of the ordinary tat window, they
are fitted with five bay windows on each
side, each about seven feet wide. The Iss-
senger can look up or down the road for
miles without leaving his seat, and the new
windows admit twice as much light as ule
old ones did. The cars are somewhat larger
than the old style, and are divided into
main saloon, ladies' boudoir, smoking room
and retiring room.
Recently the entire running time between
the Atlantic sesboard and the great western
cities has been reduced. On the 9 O'Clock
morning train the time to Chicago is TWEEN
ty-four hours to Cincinnati, twenty-one
hours; and to St. Louis twenty-nine hours
with a corresponding reduction to other
points. This speed is maintained without
the slightest danger TO the traveller.
During the var of rates which began last
winter, the Pennsylvania Company alone
maintained its rates. Beginning May 18th,
though, It fixed The fare TO Chicago at SIS
to St. Louis at $40; and to Cincinnati at Sl4
with corresponding reductions to other
points.
ATTACKING THE soUTH PExSsyLv>NIA Syn
DIcATE-The suit broush; BY Ralph Basaley
to break up the South Pennsylvania syndi-
cate was before chiefJustice SeigSiek, in
the Superior Court, Chambers. Monday, on
motion for az injunction 10 restrain all
proceedings under the syndicate agreement
and for the appointment OF Receiver of
the syndicate's aftairs. Among the other
parties to the agreement are William II.
Vanderbilt, his son William II. Vanderbilt;
his son-in-law, H. Mex TwombIy; VIII
liam c. Whitney, Stephen 3. Elkins, Oliver
II. Payne, Andrew Carnegie, franklin 3.
Gowen. David Hostetter, D. o. Mills, Fran
els Lynde Stetson, Augustus Schef. and
Henry T. Dimock. Their object was to
procure the construction ofthe road of the
South Pennsylvania Railroad Company from
the Susquehanna to the Youghiogheny Riv-
er and to control it in opposition to the
Pennsylvania Railroad. TO this end they
subscribed sl5. .o0o, 600 with which to acquire
the S20.0Oo,oo0 of bonds and an equal
amount Of stock of the South Pennsylvania
Company.
Soon after the syndicate was formed in
1888. the American Construction Company
was incorporated in New Jersey. This cor
poration made an agreement with the South
Pennsylvania Railroad Company by which
it was to build and equip the la,ters road,
receiying in payment for its work all the
latier's stock and bonds. excepting $50
shares OF stock which had been bought up.
by the syndicate. Two days later the man
aging committee of the syndicate entered
into an agreement TO advance money to the
construction company and receive in return
thereof the stock and bonds Of the railroad
ccnpany. By the agreement under which
the syndicate was formed it was provided
that the subscribers should receive bonds
and stock for each instaIlment of their sub
scriptions following the paying in of the
first % per cent. In December last all the
subscribers. excepting Ralph Bagaley assent
ed to a change OF this provision in such
way that they were not TO receive any Sc
curities pntil after they had paid IN 20 per
cent. oftbeir Subscriptions. 81
Mr.. Bagaley, who subscribed Sl.ao0eoe;
and IS the assignee ofs subscription Of sl0l,-
600 TO the syndicate. nos complains thati be
agreement under which I've expected iogetN
bonds and stocks has NOT been carried ont.
and furthermore saxs That the purposes Of
the syndicate cannot iswiu.ly be executed
As person wha -ilss paid in saI,jJJ he
eo4a plaius that the Executive COMMITTEES of
the syndicate has iGperiied the money in
stru ciesl to it by advancing it to the irueri.
can Construction. Company FOR use in build
ling the South Iennsyisania Compapy's
road. prior to the placing Of q mortgage on
that road, and prior to the issuance ofbonds
and stocks by the railro a company to the
construction company. The committee has
therefore no security for the money. he say :
because the American Construction Com
pany is an irresponsible eorpor3tior. lie
yond this Mr.. Bagaley asserts that the agree
company and the syndicate are in coiifra-
vention of Pennsylvania laws forb;dding
stock Watering inasmneh as they particular
ly provide for the issuance by the railroad
company of stock and bonds representing
$40 060. 900 in return for road worth less
than sl5 10000. Therefore. as his rights
have not been respected by II, and as it can
not unless in disregard Of Law carry ont the
M an for the bu;l,linv of the Ss.uth peunsvi-