New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-31
RAILROAD INTERESTS.
TIE ATLANTIC COAST LINE ABSORBED.
TO BECOME A PART OF THE RICHMOND AND
DANVILLE SYSTEM

DANvILLE SYSTEM.
Baltimore, Oct 80 (spcciaD-PresIdcnt William 7.
walters, OF the Atlantic Coast Railway system to-day
confirmed the report that negotiations wero In pro-
gross with the Richmond and Danvle syndca ate looking
to the sale OF controlling interest In the Atlantic
Coast lines the latter syndicate Mr. Walters stated
that his son. H. Walters, the general manager Of the
SYSTEM was in NewYork to-day, In consultation with
representatives of tho syndicate President walters
further said: The Coast Line has always been care
full railway SYSTEM and It does not borrow or owe
money. Its stock is not the market, and no one
outside can quote Its value. The Richmond and
Danvillo syndicate has a powerful following and 1t
bebooves all other Southern railroad interests to watch
and study It's movements The Coast Line people
in the position that they sell keep their business
The Plant railway system, which is the Coast Line
connection between savannah and Florida
gagged In the recent deals by which the Richmond and
Danvlle secured the East Tennessee. and the Georgia
Central. The tendency of railway business under ihe
Interstate Commerce law is to make greater corpora
tons, because the smaller cannot cope with the
questions they come up. Tho recent Richmond and
G Gea saSe None o he Of our
negotiations can DO made public now, but the fact
that they are going IS no longer secret Several
conferences have taken place and there has been some
dependence upon the subject
and Weldon Railway is the best known company.
controls probably 1000 miles of railway.
WOES OF IOwA's RAILROAD COMMISSIONERS
Dcs Moncs, Iowa. Oct 3O.-somc time ago the rail
road commissioners, at the request Of Governor Lar
rabee asked the different railroads doing business In
the State TO furnish statement to the present
value Of their property. including right Of way.
rolling stock. equipment etc About half of the roads
have replied unknown" and others say 1t Is mat
ter Of gIcssworll the value Iucuates with many
changing conditions, and add that the commissioners
are competent to guess upon 1t any else IS
The answer Of the Rock Island was received to-day,
and IS OF tho scattering Order politely declining TO
furnish tho information desired and giving some of
the why II Is impossible to furnish II. The
commissioners quite indignant the letter. and
say that IL Is treating them with disrespect. But
they arc bound 10 prosecute their inquiries, and now
they have made demand to know the salaries paid
| from the highest official down to the lowest
| SctOn-hand.
| OFFICERS OF A NEW PALACE CAR COMPANY.
| The Union Palace Car Company, which has been
formed ont Of the Mann Boudor and the Woodruff Par
or Car Companies has elected the following directors
| Edward I. Adams, John H. Inman. James a. Gar
| land, John Crcenough, Daniel c. Corbin, John G.
Moore job II. Jackson and Thomas C. Pudy. Mr. Pur-
dy, formerly of the Mann Company. has been chosen
PRESIDENT and Daniel C. Corbn, formerly Of the Wood
mi Company. vicc-presdent The new company has
capital Of Ss3OO00O0 and a parlor and sleeping car
service on 1880 miles Of railroad. The principal
routes are the Long Island, Richmond and Danvlle.
Queen and Crescent, Mobile and Ohio Philadelphia and
Reading, New-Jcrsey Central and Chicago ST. Paul and
Kansas City. Contracts for large number of new
to be built on the latest models have been made
the consolidation OF the companies will DO followed
by rapid extension and improvement of the service
The terms Of the consolidation not madc public
yesterday, but the capital was said 10 be amply
sufficient for the purchase of new equipment which
the company will find necessary.
THE PENNsYLvANIA's RATE OF DIVIDEND
Philadelphia oct. 80 (spccar.-At the Pennsylvania
Railroad Office It was stated today that, when the
Board meets tomorrow TO declare the regular fall
dividend, there Will be discussion as to whether
the rate shall be . 1-2 per cent. prominent
official Is authority for the statement that the earnings
cast of Pit,sburg show Increase this year Of
1879 ZOO, while the Western lines $4,000 be
hind last year. Besides this, the earnings Of the con-
tollcd lines In the East show decreased net earnings
The Western lines last year showed net profit
after paying all charges, Of S1.27sOOO So far this
year they $4,000 behind 1887, but portion
of this Will probably be made up. In view of the
surplus carried forward last year, and the
fact that the extraordinary improvements are not as
street that per cent dividend Will be decided upon
THE TEXAs AND PACIFIC RECEIvERsHIP.
New-Orleans, Oct 80 (specia).-Judge Pariee, Of
the United States Circuit Court, today issued an
order discharging Governor John c. Brown from the
! receivershlp Of the Texas and Pacific Railway on
October 81 1888, and cancellng his bond The order
was made on the petition of a number of interested
parties. and directs that Governor Brown make
delivery the Texas and Pacific Railway Company
Of all property funds and assets in his hands as
such receiver, and that he account to the company
It is further ordered that the property, nevertheless
shan be delivered to the Texas and Pacific Railway
| Company, subject TO and charged with all the
traffic liabilities due TO connecting lines and all con-
tracts for which the receiver Is or might be held
| liable; and subject also to any and all JUDGMENTS
which have been rendered in favor of the intervcnors
while retains the for these determinations on
interventlons pending. or which may BIZ Med
prior TO February. 1850, together with ncedful eX
peuscs Of defending said claims and with the further
protection of the receivers obligations sand liabilities.
resume possession Of the property Us ordered that
shall be presented and prosecuted by intervention
prior TO February ], 1889.
THE EAST TENNESSEE LEASE ATTACKED.
Philadelphia. oct 3O.-Samucl Dickson of this city,
elccraphs from Knoxville Tenn that he to-day filed
in the Court of Chanccry al Knoxville bill of com
plant against the consummaon OF the leae Of the East
Tennessee Virginia and Georgia Railroad to the Rich
mond and Danyle, asking that the lease be en1oined
and that receiver for the hrst named railroad
pany be appointed. Argument in support Of the COM
plant will be heard November 49,
The suit is brought by Nicholas Thourer, Charles S.
de Pohoncr. Frederick j. Burt and william J. Barr,
| who own between them 800 shares OF common and
! $500 shares OF second preferred stock OF The East
Tennessee road and the defendants arc the Fast Ton
ncssec Railroad. the Richmond and Danville Railroad.
| the Richmond and West Point Terminal Company and
| tbs dn ,ctors of all three concerns
| REDUCING SALARIES ON THE ATCHISON
Chicago, Oct 80 (specIaD-An order has been re-
| ceived at the Atchson, Topeka and Santa Fe office
here, says The News to Inform all salaried mon
on this line that their wages would be reduced 10
per cent beginning November l. The only exception
| is In the OF employees, such engineers and fire
men, who belonged to organized bodies unions, as 1t
| was not thought advisable to court a strike. The
reduction struck CONSERVATION into tho ranks of the
| army OF employees In Chicago OF this road Emmons
| blaine general passcnger and freight agent Of the
road. with an office in Chicago, said to be the
to inform the Of the cut In their salaries. Dir.
| Blaine denied this.
FREE PASS NO BAR TO DAMAGES.