The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-16


cents on the dollar, and there is reason for be-
lieving, although the matter is kept secret as
possible, that the friends of the to-beorganized
Wabash road, have taken this $1,000 COO OF Sec
true, of course it means that the Wabash peo-
pie will get control of the L, P. q c. whenever
it is sold at foreclosure sale.
The tone OF the editorials the last day or two
in the Philadelphia papers give the impression
that President Gowen, of the Philadelphia q
Reading. has a railroad presidency, board of
directors. treasurer and secretary, and every
thing but-a railroad to preside over and direct.
The Reading corporations became bankrupted
under him. and he insists that the only remedy
for their bankruptcy is the hair of the dog that
bit them. The receivers are in possession; both
Gowen and the receivers insist that the other has
multiplied debts. and both are right. The float
ing debt of the Reading is over $25, 600; the
average loss in operating the corporations during
the last year is nearly half million month";
assets for every two dollars of debt, and the
debt is regularly and rapidly increasing.
There is some talk of the trunk lines helping
out the Pennsylvania Railroad Company in its
b. q O. fight by allo wing it percentage on tick
cts sold over all lines to make up for its loss of
business All the Baltimore & Ohio's through
travel goes from New York to Baltimore over
the Pennsylvania line, and the fare between
these two points is S.. 80, leaving the Baltimore
q Ohio but So. 20 to carry passenger to Chicago
good profit on each ticket the Baltimore & Ohio
sells, while the latter road loses money, or at
least cannot make anything at carrying passen-
gers for about a cent per mile. Thus the Penn
sylvania has some compensation for its loss OF
through travel. but the Baltimore e. Ohio gets
nothing by cutting rates.
T. A Lewis, chairman, aad George w. Ris-
tine, general manager of the Erie fast-freight
lines will to-day send out the following circular
to agents:
= A. &C.
inst, it decided to consolidate the LIST day
Of February, 1886, the fastfreight lines operat-
ing over the New York, Lake Erie 81 Western
railroad into one line. to be called the Erie
Dispatch, to be compos ID of the Great Western
Dispatch division. Erie e. Pacific Dispatch divis-
ion. South Shore Line division, and such other d.
visions as hereafter are created. under the fol-
lowing organization of officers: George w. Ris-
tine, general manager. Chicago; S. 81. Wenck
auditor. New York; Edward White. treasurer,
New York. Owing to my immediate alb
sence it is desirable that this change, so far as
these lines are concerned, should be made at
once, and agents will, from date recognize and
address upon all matters pertaining to the bust
| ness of these lines, Mr.. George w. Ristine, gen.
eral manager, Chicago. T. A. LEWIS,
General Manager"
SIN accordance with the above agents and
employees will continue in their respective
duties, rendering reports and addressing commu-
nications to No. 522 Insurance Exchange Build
ing, Chicago. GEORGE w. RIsTINE,
General Manager"
The friends of the L., N. A. & G. road are
feeling quite confident that the darkest days
with this railroad interest have passed The
management which have been in charge now
some twelve months, nave been at work day and
night strengthening out the snarl TO speak, in
which the road was involved. Of thirty-si law
suits pending against the road one year ago
all but four have been settled satisfactorily to
all parties. The physical condition of both
the road and equipments is much better than
one year ago. A number of new freight engines
and several hundred freight cars have been
added to the roiling-stock, and the road was
never in better shape to handle the traffic
offered; and with this there has
been steady increase in earnings.
Another favorable feature is that the officers are
now working together, and to one end that of
| placing this road well upon its feet General
Manager Carson now has men of his own choos-
| ing under him, and all are competent to per-
| form the duties assigned to them in creditable
manner Superintendent Woodland is making
himself solid, as the boys say. not only with the
employees, but with patrons Of the road. Under
his instructions trains are making better time,
run at better hours to accommodate the travel
ing public than ever before, and in this direc-
ton he proposes to make further improvement.
Shippers have ceased to complain that their
freights are delayed on the road, and as one of
the large patrons of the road put it, it is mil
lennial times on the L.. N. A. & c. road as COM
pared with those of former years. dating back as
far as 1872.