The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-21
The Ohio g. Mississippi.

1t is reported, and believed by those In a po-
sition to know the facts, that the present board
of directors of the Ohio e. Mississippi have de-
cided to change all the officers on their road,
from general superintendent down, at no distant
elected president a year ago. 1t was under a
pledge exacted from him that every dollar of the
earnings not absolutely needed for current and
necessary expenses should be forwarded to New
York to pay interest and boost the stock up to a
point where certain insiders could unload. Cap
tain Peabody had counted OF increased receipts,
which were not realized, and to keep his prom
ises good had to neglect necessary repairs and
renewals on the line. until the property had so
far deprecated that something had to be done.
The Journal is informed that up to a very short
time before the annual meeting WAS heid, Cap
tain Peabody had every assurance that he would
be reelected, and he himself was confident of
being continued In the Office of president and
general manager. But it was decreed otherwise,
and Mr.. Barnard was chosen as his successor.
At the anE ual meeting the reports of the presi-
dent and general superintendent were not given
out to the press, as was customary, and the rea-
son given for Withholding the same was that the
printed report contained typographical errors.
We now learn that the true reason for withhold
ing the reports from the press was on account OF
the report of Superinte ndent Bent on the physi-
cal condition of the road and the absolute need
of renewals at once or the reduction OF speed in
its passenger trains. This report was not calcu-
lated to help along the designs of the New York
party in boosting the stock, no matter how cor
rect might be the report or conscientious Super
intendent Bent might have been In laying be-
fore his board the actual condition of the road.
The board wanted Mr.. Bent, it is said, to change
or modify his report, which he declined to do,
and the directors got their backs up and are
looking for some one else now to FIJI his posi-
ton.
The annual report, as now printed in the Gin
clnnati papers, bears out and confirms the infor-
nation We printed on Oct. Ia, last, that the float
ing debt was nearly 81. 900, 900. The report
gives it as 81, O06, 59S. 50, and of this two-thirds
are due theP. 81 0. Railroad Company in notes,
vouchers, etc. To show the correctness of the
statements of the Journal regarding the physical
condition of this road, we quote from the annual
report of G. G. F. Bent. general su-
perintendent. He SAYS there is now in the
main track twenty eight miles of light ffty-two-
pound steel rails bought in 1874, 1875 and 1876.
1t is badly worn and causing much trouble. 1t
IS laid In the track where trains run very fast,
thus requiring constant watching. Much Of the
sixty pound rail laid on grades and curves shows
signs OF failing, and must soon be re-
placed. The superintendent says l,500 tons
of steel rails are needed at once, and unless new
rails are put in before winter sets in the speed
of trains must be reduced. Ballast is very scant
on the grades, and on that portion of the road
where alignment is very crooked. The condi-
ton of the tracks in some of the yards renders
it almost impossible to do the switching without
accident One hundred and one new split
switches are needed on the main track.
In regard to the Springfield division, the SUI
perintendent says about two-thirds OF the mum
Der of ties asked for during the year have been
received, and, with the small amount of rail re-
newed. the condition of the track is not promis-
Ing for safely operating the road during the
winter.