The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-12-03


Rates Firm Without Pooling agreement
There are still parties urging the trunk lines
to again reduce the rates to basis of 20 cents
per 100 pounds from Chicago to New York In
dcations do not point however, to any decrease
OF rates. On the contrary it would seem that
further advance of cents per 100 pounds is con-
templated as soon navigation closes. Inc
ground assumed by the managers appears to be
that the demand for Western products Is hght
and that shipments will be scanty in any event.
therefore they may as well get high rates on
what business there is. The advanced rates on
the basis of 25 cents per 100 pounds for grain
from Chicago to New York, which went into
effect on the Oath inst, is, to all appearances.
firmly held by all the roads. The fall in the
price of wheat at Chicago is to some extent an
advantage to the roads, and coming at this time,
prevents shipments being entirely cut off by the
advance in rates It is noticeable that since
rates have been advanced and maintained the
bulk Of the business is carried by the stronger
roads. At present, there being no pooling ar
rangement in force, each road takes what 1T can
get, and presumably keeps it.
A Road that Is Out of the Woods.
M. E. Ingalls,, president of the Cincinnati. In
dianapolis, ST. Louis & Chicago road, has shown
his confidence in the future of the property by
offering $500, 900 in cash for 1900 shares of the
stock held by one party. The offer was refused.
The Big Four as it is known, now dividend
paying road, is in such condition, financially
and physically, as to make the stock of the road
as we'll worth par as is that of any road west of
the Alleghenies. The company owns, from Gin
cinnati to Lafayette, Ind, la miles; Lawrence
burg branch, 3 miles; Harrison branch (partly
owned), miles; Falkland F. 81 M. road, SO
miles; and Cincinnati. Lafayette q Chicago
(leased), rs miles; Vernon Green 81 Rush. A miles
(leased) Kankakee & Seneca (one-half owned),
43 miles; Col Hope g. Green. 26
miles; total operated, Ali miles. The bonded
debt on the main line is $25 900 per mile. In
July, 1881. $4,000, 900 new stock was sold to
stockholders at 70, and the proceeds used to ex-
tinguish floating debt and for other purposes.
In June, 1882, another issue of $1.0O0OO0 new
stock was voted After paying dividends of
per cent in 1881, 6 in 1882, and in 1883, the
dividends from July. 1883, were passed, the
money being required for repairs of damage by
flood, etc. The present physical condition of
the property is such that it can be we'll main
tanned at ordinary cost for three years to come.
The policy of President ingalls,, however, is to
improve property as earnings will Justl-
fy, and all improvements now made are
of the most substantial character. Within the
last two years several bridges have been built
which are pronounced by parties competent to
judge as being the best structures of this char
acter on any road in the country all rest on
solid stone foundations The company own a
superior locomotive equipment, numbering
seventy-nine engines, a large per cent. Of them
or recently rebuilt The road is. as WELL
credited with running the finest passenger trains
In the West The main line and branches are
all favorably located for business, and the popu-
larity of the road is evidenced in the fact that
in all pooling agreements they are allowed a
large percentage in every case, and more than
earn the per cents awarded.