The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-01-16
IRON HIGHWAYS.
The Affairs OF the Cincinnati and East
ern Railroad Company.
a New Issue OF Bonds by the Lake
Shore-EeceiveF Evans, OF the L.
and g. Air Liue-Other Items
Of the Rail

The stationery department of the Monon
was removed to Chicago last night. Chief
Engineer J z. Pesraou will make that city
bis headquarters, commencing with to.mor-
row.
The Directors Of ihs Ohio Falls Car Works,
at JefieEsOnville have accepted the resigna-
ton Of Joseph Sprague, President and Sa-
perinlepcent OF that establishment.
f. f. Osborne, Treasurer of the Cincin-
natl, Indianapolis, s.. Louis and Chicago
Road, makes the following statement OF
earnings expenses and fixed charges for the
month OF November, 1884: Gross earnings
S196 80 Ga; operating expenses, S124, 444 A;
net, 81 66S -; deduct fixed charges, $50, 600;
surplus. sd, sos p; add surplus to October
81, S163 23l.30; total surplus Eve months,
SlS5, 099 81.
The Bedford and Bloomfield, owned and
controlled by the Indianapolis Rolling Mill
Company, is che OF the best paying little
roads in the State notwlths .arding the fact
that times are hard. Il is q fact too that
very few roads Of its size in Indiana are in
equally as good physical condition The
last current report showed that the COM
many bad expended thousands OF dOlltrs
daring the year OF 1884 IN Improvements and
still there was surplus in the treasury.
This line passes through q country that
aoouDds in the finest article OF ssone, lsrge
portion OF 6hlch is being used 10 the con-
siT1ction OF the State HOUSE.
Receiver Evans, ot the Evansville air
Line, has gone to work on the affairs of the
road in a manner that indicates retrench-
ment and reform in earnest. To reform
things properly will, ofcourss, reqaire some
changes IN employees. There is already
good deal OF uneasiness among the boys"
bnt faithful and efficient employees, it is safe
&c say, have nothing TO fear; but those who
90 not I'll this standard may well fear aad
quake. The Air Line well mansged is
valuable property. and will cone out or its
present troubles oil right. Mr.. Evans, from
the way ne starts out, ls evidently the right
man in the right place, and the road Could
be in no better hands as any railroad man
Who is acquainted with the Receiver will
admit.
AFTAIRs OF THE CINCINNATI AND EASTERN,
The action taken by the lawyers repre-
senting those who have d direct interest in
he Cincinnsti and Eastern Railway, to-
gether with the actions Of the trustee of the
road, point toward a short life FOR the pres.
ent company and an early sale OF the road.
Some weeks sgo the attorneys representing
me various bOndholdeTs and other interests
notified Judge London, a. Batavia, that they
desired TO be heard before any moro Re-
CeiveI's certificates shOuld be issued. Tais
yes soon followed by other legal eteps to
force an early action, so that the hrst- mort
gGge bCDdholders should not be sgalIO wed
up by the holders OF certificates, on which
interest has not get been paid. Some days
Ego captain SWING, trustee for the third
mortgage bOn6hOlders, fled cross petiu0a,
praying for the sale o. the road.
Since the date of the filing of the cross
petition various other papers among them
special report Of Receiver Woodward,
have been fled. Bat at AIT 81 parties have
been brought into court, ana by general
ceHsent al order will be Issued during the
present term OF court to sell the road.
About year ago S250000 Of Receivers GER
tifcates were authorized to be Issued. Some
time aftsrwaFd 100000 more were issued.
The certificates to the smOuHt of $4,000
were used is extending the road to Ports
mouth, buying standard gauge iron and
purchasing rolling stock for the same. The
total Indebtedness OF the company ia 81
$4,000.
NEW YORK GOSSIP.
A New York special to the Courier-J oarnal
says:
The Canada Ohie Central Reorganization
Committee claims TO have 3 200 bonds de-
posted with the Central Trust Company,
aud sufficient promises, by letter Co make
The Stevens Committee have $50 bonds de-
posted under the old plan, aud % D. the
new plan, but Mr.. Stevens thinks q new
plan viii be necessary 60 harmOnizs al ia
terests. There are so many interests IL
vOlved in the West Shore that even If fore
closure proceeding we're instituted at once.
il will probably be years before the irsk
mortgage bondhOldeTs acquire possession,
or il Will be impossible to avoid long and
expensive litigation with the conflicting in-
tsrests in the Ontario and Western, the
North River Construction Company, and the
Terminal Company.
Already there is talk Of q new Issue of
bonds by the Lake Shore, which has a float
ing debt which has not been reduced Of late.
The company issued three millions OF bonds
in the1bird quarter of the wear. Lake Erie
and Western, though not particularly ac
i've, advanced 81 per cent upon the report
mat money has been raised with which 20
build from Peoria 30 Bloomington. The
Quincy plan Tor clearing stock is being tried
by thTee.QusrteTs Of the active members of
the beard. One certificate issued on Mon
day passed through twenty.niue houses in
less than four hours, and saved the csrlifcs-
fiou OF Sl04 coo