The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-11-11

near the boundary of Mercer and Rock Island
counties, then by separate lines to Rock Island
and to a point on the Mississippi river opposite
Muscatine, Ia, and q line from a point on the
the boundary Of Knox and Warren counties, on
the second line, northwesterly, to a point on the
Mississippi, in Henderson county.
The HTenaces OF the Canadian Pacific.
CHICAGO, Nov 10-The plans and schemes of
of the Canadian Pacific, which just at the pres
ent time seems to be reaching out in all direc
lions on American soil and striving for Ameri-
can business, contribute an element TO the pool
situation that is at least prolific source of COM
ment and spe sulation. The latest is that in the
near future the Canadian line is to become an
active competitor for central traffic and trunk
line passenger and freight traffic. AS noted
some weeks ago, the Canadian Pacific is building
a new line extension of the Credit Valley road,
from Woodstock to Detroit, where operations
westward will end for the present. But the
Canadian Pacific has, 1t is asserted, concluded
trackage contracts with the Wabash and the
Baltimore & Ohio which give it running rights
from Detroit to Chicago. 1t is claimed that this
IS not all. For two years the Canadian Pacific
has mad engineers in the field marking out line
from Woodstock to Niagara Falls, and it is
positively stated that this extension is to be
built at once, and that work will begin upon it
early in the spring. Up to the present, the
Michigan Central and the Canadian Pacific have
exchanged business at ST. Thomas, but the
new arrangement, even if the Woodstock and
Niagara Falls branch is not built. will
work to dissolve that connection. The
Canadian Pacific has demanded of the Michigan
Central, on several occasions, that rates via
Montreal to Boston and New England points be
equalzed with those via the New York Central
and the Boston e. Albany. which, of course has
been refused, the Michigan Central could
hardly afford to discriminate against or rather
put the Canadian Pacific on an equality with it's
natural connection, the Boston & Albany. The
Canadian Pacific is ripe for rupture, and what
with its Woodstock g. Detroit branch, and its
contracts with the Baltimore and the Wabash, it
looks as If it would soon be in position to
greatly demoralIze Chicago traffic. There is
also an added whisper that, when it builds to
Niagara Falls, it will find at Buffalo a natural
and ready ally In the Lehigh Valley road, which,
If true, would give it a line through to New York
outside of the pools, and, unless one or both of
the roads were brought in; those associations
would find combination impossible. With the
interest on Its bonds guaranteed by the Canadian
government and in position to haul freight at
cost in following out its favorite theory that its
present mission is to demonstrate it's capacity to
insure business, the Canadian Pacific is hecom-
ing a dangerous menace to American lines
The Pennsylvania aud the Northwestern.
verriser says: 'The surplus of the Pennsylva-
MIA Railroad Company, which is said to amount
to about 100000, 900, has received considerable
attention of late from the company stockhold-
ers both here and abroad Mr.. John Taylor,
representing English stockholders, has been in
this country for some time having come to urge
the directory to declare a supplementary divi-
dend The officers of the company, however,
have hitherto been disinclined to dispose of any
part Of the surplus. It is now learned on good
autho- ty, that the Pennsylvania people have
under consideration rather unexpected plan
for the disposition of their surplus funds This
is sae acquisition ths sod controlling
cago & Northwestern system of
railroads gentleman who is identified with
Western railroads. and who returned from q
trip to Chicago, recently, says that he met in
that city prominent iron man, who is direct
or In the Pennsylvania railroad. This gentle
man said that he had just been on a trip over
the Northwestern road and had found it in ex-
cellent condition. When asked the object of
his trip, he said it was for the purpose of report
ing to the management of the Pennsylvania
railroad as to the advisability of acquiring con-
troll Of the stock and running the road in con-
junction and connection with the Pennsylvania
road. He said freely that he was in favor of
such an arrangement, and approved of such
and profitable. The basis of the
arrangement, if negotiations were car
ried to successful termination, would
be guarantee Of per cent on the stock
The gentleman said that the general idea that
the Vanderbits had a controllng interest in the
stock was a mistake. The Vanderbilts had sold
out very large amount of their holdings during
the last year. and if it was decided to carry out
the scheme mentioned above there would be no
difficulty in doing The Pennsylvania road
was the first Eastern road to secure an entrance
into Chicago. They did it by the purchase of
the Fort Wayne road. The Northwestern road
is now feeling its way to the Pacific coast, so
that the Pennsylvania road, in acquiring it,
would practically be paving the way for another
transcontinental line"
Attitude of the Lehigh Valley Company.
PHILADELPHIA, Nov. l0-Presdent E. Will
bur. of the Lehigh Valley Railroad Company,
came to the city this morning, and in giving an
authoritative denial to the stories connecting
that corporation with the construction Of a new
through-line to the West, said I'VE have been
nhaH o. rin 4