The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-17
RAILWAY NEWS.
The Trunk Line Managers See fbe Ne
cessity Of Central Organization.
annual Meeting of the Cincinnati, New
Orleans and Texas Pacifc-Phe
9, N. and st z > Prenm-
mary Statement
Other Items.

Trains were "of-' on many Of the roads
yesterday.
The time is rapidly approaching when the
T. and /. will be sold.
LEGAL freight traffic is brisk over all lines,
and there is a growing demand for emptIes.
LOcai passenger agents report heavy
business to Washington, and it is under
stoI that The rates agreed upon at The recent
Cincinnati meeting are being well main
taired ~ all roads.
Tie most brilliantly lighted shops in IDdi-
annapolis are those owned by the Panhandle
east Of the city. in which eiectric lights are
used. Several Panhandle engines have al
ready been equipped with electric lead
lights.
The excellent condition of the Bee Line is
greatly due TO the superior management of
Z. B. Thomas, and parties who prophecy
that be will tender his resignation at the
annual meeting next month will surely get
BADLY LETT, for he has 30 intention OF SO
doing. The report that he was to resign,
which was circulated over the country some
days ago, has been denied by himself and
others IN q position to know, vet some Of tae
Western papers are announcing il as a cold
fact.
The through shipments OF freight from
New York to the west last January were
lsrger than might have been expected con-
Steering the general complaint OF dizziness Of
trade, They we're about ten per cent. less
than last year. The reduction in rates does
not seem to have stimulated shipments
much. and it is not likely 10 do so much in
winter " hen there are no canal shipments
10 be directed, The oircuitOus lines chiefly
bv southern roads which always carry At q
discount from regular rates, are spt 20 suffer
most and these have not usually carried as
much as three Per cent. of the whole. Il Is
generally conceded mat there viii be 3
heavy Increase In shipments from the esst
during next month. Easl bO1ud business
is very light
The trunk line managers feel that some
central organization is necessity. even
when the competition approxmates open
warfare; and - begin to see the value Of
the recor14 shich have been kept so long
az sfaW more valuable the longer they are
kept sho wing the course traffic has taken
under the most adverse circumstances, and
throwing flood o. light on what We may
call the physiology and pathology Of traffic
for they follow the course not only OF
healthy transportation, but of transports
ton suffering from various disorders. All
tbSse records will come very handy one Of
these days. when the companies exhausted
by their struggles with each other or having
attained better frame OF mind, determine
10 work IN harmony again, but most OF all
the records OF the time Wnen each does what
is good in lie own eyes.
The Chic >, Milwaukee and ST. Paul
Company n.Axes its preliminary statement
CT earnings, expense, fixed charges, etc,
fer the last calendar year later than usual,
though there perhaps never wss time when
it was awaited with so much interest by the
stockholders. There has been evidently
some disuust OF the company, as the CJm
mon stock, which has for several Years paid
: per cent. dividends yearly. and IN 1852
sold above ll3 after the last stock dividend,
hes been selling below IS for some months,
though the fall dividend was paid as usual.
The company has been making extensions
for years on q colossal scale, and doubtless
many OF the new lines will require IN time
large expeEdi tures for Improvements. Such
q company nah have occasion to incur
great floating debt IN q short time, If
it is not able to issue new bonds
or stock. and the stockholders
therefore are especially interested IN know
ing their c0mpany's financial condition at
frequent intervals. Moreover, though the
Chicago. Milwaukee and St. Paul has an ex
csptionally light capital account the pro-
portion of bonds.to stock is unusually great
about 0OO0 600 of bonds TO a, 500 600 Of
stock. Thus comparatively small reduc-
ton In the net earnings per mile viii take
away considerable part OF the dividends,
much the larger part oil the net earnings, as
they are now, being required for the bonds
The converse OF course Is true: an addition
of only Sl0O per mile to the let earnings
will pay per cent. on the capital stock and
with net earnings per mile less than many
Of the Chicago roads have, it could pay IA
per cent. instead of Z. Just now, however,
losses are feared more than gains are hoped
for, as the price of the stock coDcl1siYely
shows.
c., y. o. AND 7. ROAD.
CINCINNATI, Feb. 16.-The annual meeting