The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-06-12
favorable occurs, dividends will probably be re-
sumed at the end Of this year, and will be con-

favorable occurs, dividends will probably be re-
sumed at the end of this year, and will be con-
tinued.
The Philadelphia & Reading scheme makes
but slow progress. SO far as outward signs 60.
but the procrastination of Mr.. Governs alterna-
tive plan works steadily in favor of the plan
which is supported by the Drexel syndicate
The court of Delaware county is now hearing
demand that the Philadelphia. Wilmington 81
Baltimore railroad be ordered to take down an
overhead bridge at Chester, so that people may
drive across the railroad tracks at grade and run
the risk of being struck by passing trains.
The Aztec Cattle Company, located upon lands
purchased oe the Atlantic & Pacific railroad. has
had it's capital stock of ST. 100000 all taken up.
The compS6y has now upon its range some
$4,000 head Of stock. and nearly a thousand car
loads in addition are upon their way to the
range, via the Texas Pacific. Atchison g. At
lantic, and Pacific, from Texas.
The various reorganizations of railroad COM
panes attract good deal of attention, the COM
mercia and financial situation being very favor
able. The East Tennessee, Virginia g. Georgia
company has passed through the foreclosure
sale; it's bonds have assented with practical
unanimity, and the new organization will elect
directors before the month closes
Two new drawing-room cars have been turned
out from the Boston & Albany shops at Allston,
Mass The inside finish is in solid mahogany.
One of these cars has a smoking-room. while
In the other arrangements are made by which
regular berth can be quickly prepared for an
invalid when travelling. When not so used
only regular seats appear. They are said to be
the finest cars running on New England lines.
The settlement of the New York, St Louis &
Chicago company's affairs is thought to be max
ing progress; the idea being that tho Lake Shore
81 Michigan Southern company can float Its own
per cent obligations at par, and thus retire
the per cent bonds of the other corporation,
of which it already holds the majority of the
stock. Such arrangement, now that the
Nickel plate company has shown its ability to
earn per cent in full on its first, mortgage,
might be good settlement for the Lake Shore
road to make.
the Rhode Island locomotive works for the
Cheshire ROAD new feature of which is the
/. distribution of the weight on the drivers. There
are three pairs of the latter. and the engine
stands with q weight of $1,000 pounds On the
truck and of less than 16, 600 pounds on each
driver-the total weight being Ill 300 pounds.
This is reduction of weight on the forward
truck of about 1900 pounds. The locomotive
has cylinders 19x26 inches, and is designed for
heavy freight service.
The Chicago, Burlington & Quincy road, yes
terday, let the contract for the construction of
a very important extension of its lines in Illinois.
This extension will be twelve miles In length,
and will run from Galesburg TO Rio, ILL., The
building of these twelve miles of road will short
en- the companys line from Peoria to Rock Island
to ST. Louis ten miles. The extension will con-
meet the old Rockford, Rock Island s. st. Louis
road with the main line at Galesburg Work
will be begun at once, the contract providing
that the line be completed by Sept l.
The Texas e. Pacific railway reorganization
has become fully as lively muddle as that of
the Wabash, to which Mr.. Gould has usefully
contributed by stating that the Missouri Pacific
company considers the so-called official scheme
very unfair to it a creditor for money ad
vanced. The position at present seems to be
something like this: The Rio Grande division
bondho!ders resent what is offered them, have
formed committee of their own, and will issue
their own plan; the land-grant bondholders,
knowing that they have the lands in any event,
naturally refuse to surrender their lena third
mortgage-on the railroad east of Fort Worth;
the New Orleans division bondholders dis
satisfied, and even the consolidated bondholders
do not know why their status should be changed;
and, perhaps most important OF all, the stock
holders rebel against the confscation Of two
thirds of their shares. and express willingness
to pay an assessment of per cent