New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-04
RAILROAD INTERESTS.
DECIDING TO STOP THE DEFAULT

DECIDING TO STOP THE DEFAULT.
KANSAS AND TEXAS AND INTERNATIONAL AND
GREAT NORTHERN LEASE ANNuLLEp.
The international and Great Northern Railroad Com
pany advertised yesterday that the May interest on
the FIRST mortgage bonds and the Colorado Bridge Com
pany first mortgage bonds would be paid on presenta
don at the Mercantile Trust Company. This action was
due presumably 10 the prompt movement
on the part OF large bondholders to pro-
tect their interests by buying the coupons IN
default. The Roosevelt committee, however, mas
turned into tho Trust Company the coupons that IL
controlled or had bought. 1t was said In Its behalf
that as the company had resumed payment there was
no reason why the bondhuders should not obtain their
interest from the company because the default could
not be made continuous.
1t was announced afterward that the lease OF the
International and Great Northern to the MISSOURI
Kansas and Texas had been annulled by mutual agree
ment OF the directors Of the two companies The
boards arc virtually identical and tho harmony Of
action is supposed be significant only of desire to
secure the International and Great Northern to the
Missouri Pacific and consequently to embarrass tho
proposed new management Of the Missouri Kansas and
Texas. BY this movement, the stnamed rOad
will be left apparently with both ends in the air. 1t
will be able to handle through business at dssdvan-
tagc while the International and Great Northern may
be leased to the st. Louis Iron Mountain road, It's
natural connection 1t was rumored In wall street
the next interest on Missouri Kansas and Texas bonds
would be paid promptly but frequent doubts ;,. were
Pacific was willing surrender control Of the Missouri
Kansas and Texas whenever the apparent owners
wished to take IT,
FORCING TRANsCONTINENTAL RATES DOWN.
Pttsburg May (specaD.-Thc iron andssteel man.
ufacturcrs Of Pttsburg making SHIPMENTS to the
Pacific coast by way Of New-YOrk. and tae railroad
| officials are much agitated over II. REDUCTION OF
from twenty TO thirty per cent on railroad rates Is
| given Some shipments made by the Mallory Line
| TO Galveston. thence tho Gulf Line railroad,
while Others sent by the Pacific Mall Steamship
Line. The railroad officials say they arc ready to
meet any rate made by the steamship companies. but
manufacturers 1t IS too late. that they have
mado their contracts. A. NJ. Byers said to-day that
the railroad rate TO California was sometimes from
1875 to $50 ton and the manufacturers decided 10
make a change when tho Union Pacihc established an
arbitrary rate on galvanized iron Pipe pdtng It fifty
per cent above that Of black pipe. when there was no
difference In handling
| AN OIL FIRM SUES THE PENNSYLVANIA
| Philadelphia, May (spccal).-An interesting suit
was begun to-day, at No. 210 South Fourthst, before
J. j. Broadhurst commissioner appointed by the court
Of Mexican County, in the case of Logan, Emery d
weaver Of this city, against tho Pennsylvania Rail
| road Company. Tho plaintiffs claim 1921 coo, as
excessive charges and damages. They aege that they
were oyercharged the amount Of S107 900 on Ship
| ments since September 1, 1851 Tho testimony TINS
morning showed that between January !, 1851, ana
Decent l.
rels OF crude OIL on which $780, 65 40 was paid, and
GA 800 barrels Of refined oil, which they paid
$1o3, 1857 eo.
CARS TO BE HEATED BY STEAM.
Boston, May (specaN.-The Railway Commits
siones Of Massachusetts have made report on tho
heating Of cars The board employed Professor
Caetano LAMA to examine the workings of the various
systems of heating by from the locomotive In use
In this State Though the difficulties have not all been
surrounded though there trouble from the leakage
and freezing Of traps, and the imperfect action
OF reducing valves In the engine the report MADE py
Professor LAMA confirms the board in the opinion that
the system of heating by steam from The locomotive IS
measure Of economy that II should be adopted as the
standard throughout this state and that tho use Oh me
mltied under exceptional The hoard viii allew
The road until the fall Of 1880 to complete the equip
ment Of cars with steam heating appliances
MISCELLANEOUS RAILWAY INTELLIGENCE.
Lincoln, Neb, May STATIONERY General Leese has
been In Omaha couple Of DAYS investigating tie title
of the Union Poetic lands held in that city ana claims
TO have found about g. 1000 worth occupied by tho
company to which they legal title Nebraska Ter
rorial and State ouscmcnts prohibit corporations not
Sonsn <. the the Ta"u TaSo
sRS ; nq e % ' dsGss e S
il: s. en- s was secured by
| Chicago, Nay 8-The bonds of the new Chicago and
South Side Elevated Reiroad Company were placed ON
market here yesterday quantity were subscribed
| Detroit. Mich. May S.-The annual meeting Of tho
stockholders Of the Michigan Central Railroad Company
held this morning. The old board OF directors ana
| officers reelected.
Newburg. N. Y. May (SpeciaD.-It has been def
ntely settled right Of Is resy all secured
for the Lehigh and Hudson River Rail-
road from Its eastern end GIeycOur the Erie TO
Montgomery back OF this city there 10 connect with me
new road westward from the POughkeepse bridge The
terminus OF the LehiRh and Hudson conecs az
Belyidere, N j. with the Pennsylvania system OF roads
PEOPLES KITCHENS IN GERMANY