The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-01-21
IRON HIGHWAYS.
The New York Railroad Commission
Investigating Railroad Accidents.
The West Shore Bondholders-Stock-
holders and Directors OF New
England Road can not Agree
Other Items.

Work on the Lafayette, Bloomington and
Western will be resumed as seon az the
weather moderates. The road will be sn-
tiTeiy completed during the coming s1mme-.
Fer sorle time past freight rates At Tsrre
Haute have been shsky. Now they are
badly Gemcrslizsd and there is talk aua5ug
freight men to the effect that before the snd
Of the week they will go lower still. Ere gbt
Is now billing out of that city ct tweDsy
cents per 100 from Chicago 10 New York.
All lines are in the tight, and in their efforts
to secuTe business it IS not unreasonable 70
suppose that they Will cut the twenty-cent
rate.
From gentleman conversant with the
past troubles Of the Evansville Air Line i, is
learned that the completion OF the road %
st. Louis was determined npon several
months ago and the construction would
have been inaugurated ere this bad it noE
been for failure TO settle the old de1ts Of
the road on what was considered an sqQit-
able basis. This gentleman says that tasYs
ia 10 truth in the statement that tha T3s9
will be cold. It will bB transferred e6cs %
the company in fourjshiug condition.
The dullness OF business wss reelected in
the shipments OF freight from New Xcrs
more in December last than ut any tims pre-
vioUs, these shipments being tbea nearly
third less than in 1883, nearly the sane as
IN 1892, 35 per cent less thau IN 1881 t1be0
very log rates made them very latga( 81 ight.
j. more than in 1880 aod 10 per csut lsss
than ia 1879. Ordinarily when there IS no
change in rates, the shipments are smaller
in December than in any other moOth of
the year. That was the case In toe year i1st
past, and the decrease from November not
greater than IN several other years, and not
so great as in some.
The mot valuable work oil the New York
Commission has been the requiring OF q1kr-
,eTly reports and its Investigations OF rail-
road accidents. The reports were needed
the more because most New York companies
made no monthly report of gross earnings
even, and the proprietors OF railroads were
kept in the dark as 10 the financial condition
OF their own property from one years e0d
TO another. Investigations of accidents
are valuable even if very imperfect, and same
of those by the New YORK Commission
have been very good. The IN yestigations Of
rates, ETC., during the past year have not had
in them so much to object to ss We found IN
the early ones, and such Investigations are
| often useful, without regard to the recon-
mendatioDs OF the Commissioners. Tbe'
Commissioners, however, show very great
temerity IN recommending legislation TO
prescribe certain methods of construction
and definite safety appliances, which Gao
scarcely ever be done safely. and is Tx sly
often 10 result IN increasing danger instead
Of safety.
The system in vogue on a number OF
Western roads requiring employees to file q
descriptive list Of themselves, together with
their photographs, at headquarters, is gradn-
ally being adopted by Eastern lines. The
employe fills up form" in which he gives
biz name, age, residence, that of his parents
or nearest relative, whether married or
siree, Dew long he has been railroaIing, o.
What Tcrd, in what capacity, whether he mas
been discharged, and il go, for Whas. 4
prominent railroad official says that tais
serves as complete personnel and business
history Of the emplOye. II is passport, BE-
ssys, IL position, aao Il the man has been
discharged for some serious odense it pr9
tecis the road from which be seeks employ
ment. SO you will see il is a BENEFIT n
ourselves, benefit to other roads sn6 she
senersl public ! think tins Eastern r0sds
gTe falling into the Western protection sgs-
,eIn, and that II will work bester When Il is
sell understood
The boudholde1s of tie Vest Shogs nave
not yet decided upon plan of re0rgaaizs-
ton. One trouble is said to be the difficulty
Of adjusting the prOpOgtiouate rights OF the
| bondhOldeTs and the stockholders Uf the
North River Construction Company, which
| is a large creditor of the West Shcrs Jm
! pany. A plan which is thought 80 % &c
| gsroed with favor by some OF the persoas
Tost largely lntersstsd. is u issue SIS, GOO 9))
| d new West Shore first III 1ftgsgs bJads sd
! make TIE present b1nds either preferred
; stock g lucome bonds. One o. tbs com nit
| 90 appC nted TO look altar the interesfs o.
he bond folders of the West Shore saYs thss
ne affairs the West Shore Road are so n.
erwOven with those of tina North River
| Construction Company, and the New YORK
/ Ontario and Western, that IL seems impo4si.
/ De 70 avoid foreclosure OF the mortgage.
! some of the bon0holders are OF the opinion
that the West Shore Road will stand al
ssue of ABOUT $50, co., 600 new first mortgage
| bonds.
S--l Months ago 2S2 stockholders OF the
Northern Railroad Company in New Hsn1e-
| shire, holding 2 GIL of the 50, 900 shsres, Pc
tilioned the Directors for division OF tia
| compssy's surplus. This was represented -
be about Si.5oo,0QO and it consists primo
| pally OF stock in the Concord and Claremont
Railroad Company of the par value of S25I,.
| 245.12, Of 1929 shares In the Concord Rail
| road Company $50 the counsel for the peti
i ;ioners clsims(, of all the second mortgage
4 oonds-$65, 0o0-Of the Peterboro snd Hills.
boro Railroad, OF some $500, 600 in Other
1 >eeurlpes ana acoot an equal amount re
| ceived or due from the Boston and Lowell
| for fuel, shop stock and other supplies
| turned over under ne Lease. The Directo.
| have declined to make The division on tn
around that as most of the property was a.
CURED in the interest and for the protection
OF the road, it is better that it should be held
by the company than to be devided among
indIviduGle, and thus become subject 70 be
| acquired by rlvsl interests It is claimed on
| behalf OF the petitioners the most sctive OF
whom Sre said TO have opposed the Lessee to
the Boston and Lowell, that since the ieass
became al accomplished fact the lessee
should protect the property, and the stock
holders OF the lessor should be entitled 10
division of the entire surplus. II the d
iectors persist in declining TO divide it. the
| petitioners threaten 20 appeal 70 the courts.