The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-18

Chicago. Burlington g. Quincy railroad and the su-
gerntendent of transportation OF the Wabash system
The committee has power to adopt system of rules
that to be used all the railroads in the country
In regard to the running of trains.
Solicitor Cox of the c., l., st. L. c.. is feeling
finely over the verdcts in two important cases
heirs of James Hook. who killed when practically
stealing ride, as he had ticket pass, leave
to board the train. The came up in the Circuit
Court of Dearborn county, the heirs suing for
$40, 000 The jury brought verdict in favor of
the company. throwing the &C Is the plant
if. In the other case which up in the Circuit
Court OF Decatur county, party sued the company
for $4,000 for personal injuries. The jury after
being out thirty-six hours failed to agree Ten of
the jury thought the party not entitled to dam
ages, but two held out for So, 900.
President Bostwick of the New York & New Eng
land road Is quite anxious, it is stated
President Clark in the service of the company, and
management of the New York & New England rail-
road, in 1888 its treasury empty its credit bank
rup and its passenger and freight service democrat
lied that fatal accidents matter OF almost daily
occurrence. Half million dollars of its Indebtedness
was about to fall due, with no apparent means of
meeting it, and the prevailing opinion was that the
common stock would need to be wiped out, and new
company formed. Within three years the credit of
the company has been established its service has be-
New England the interest upon al It's indebted
ness is fully earned, and the stockholders
are beginning to talk of dividends.
In commenting on the new president of the New
York IL New England road the Springfield Repub
can says 'Bostwick goes to DIR. Armitage's church,
lives on Fifth avenue, and got his wealth in Ohio. he
was in Standard oil and is worth from $40 600 600
to $50 900, 900. If this is so, it is to weep
for Bostwick, for perhaps even the New York q New
England road will not lead him to the poor. house.
lie Is phianthropic, and gives away money. That is
why he took hold of New York & New England; he
believes that New England has been bottled up long
enough. How nice in Bostwick to draw the cork and
let her gush' into his own upturned glass. Here
New England has been waiting all these years for
Boston to do something with the New York & New
syllable. What was wanted was not Boston, but
Bostwck. Bostwick, of course, has great plans"
Legality of Big Mortgage To Be Tested.
ERIE Pa, Dec. Hast May foreclosure suit
brought in all the along the line of the New
York, Chicago & st. Louis railroad by the Central
Trust Company, of New York. The answer filed by
the defendant yesterday that the proceedings
to consolidate the stock and franchises of
eral railroad companies in New York, Pennsylvania,
Ohio, Indiana and Illinois, necessary for the con-
struction of the Nickelpate without authority
and vod that the issue of the fortyyear gold bonds
to the amount of 800, 900 per mile, or almost $15.-
100000, and the mortgage security the Central
Trust Company, of New York. are therefore. worth.
less; that assuming the Nickel plate Company to
have been valid corporation, organized under the
laws of TIE several States through which it passed,
and with authority to issue bonds and to their
payment by mortgage said bonds were issued with
out adequate consideration, either in money,
labor done, or money or property actually re.
ceved in violation of the laws of Pennsylvania and
Article 16 of the State Constitution, and therefore,
the bonds of the plaintiff and the mortgage executed
to secure their payment void. The answer AYERS
that the bonds issued in violation of the laws of
Ohio and Illinois, and void. The defendant
pany submits that there has been lawful consol
daton of the several railroad corporations organized
under the laws of the State of Pennsylvania with the
several railroad corporations organized under the laws
of the said other States the aforesaid first mortgage
bonds having been issued in violation of the laws of
this State and the proceeds thereof having been al
most wholly applied toward the construction of the
portions of the railroad described the Nickelpate
situated outside of this State decree for the sale of
that portion of the road situated in this State for the
purpose of paying said bonds would be contrary to
equity and law The answer is signed and to
by f. w Vanderbilt This case is of intense interest
among general railroad circles.