New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-23

haccap, landed az Castle Garden be handed py INC
emp.o,es of tho Commissioners. ana that eaon ran
road Lay its proportion OF the expenses ~ ,ne mieJ
soners ac, oIding ~ tho amount vi DAeeaev ha"S
1hs REPRESENTATIVES oil the railroad ana stcdnstsP
row,alies present agreed 10 ths PROPOSITION au el'
he meetIne with smiling faces. JONI Agent Dudiv,
hc ,r,,"ss1on of lie lines he represents, VIII haulc
tie baggage vi those lines unu ire pioposed h" 40
caves l6c approval OF the commissioners ana the cU
trcts hr zen then and the railroads are amended
to meet the necessities Oh the oaso'
RIG SALE OF NORTHERN PACIFIC BONDS
A SYNDICATE HEADED BY HENRY WILLARD
TAKES FIVE MILLIONS
The Northern Pacific Railroad Company has COM
pleted sale Of about 100000 OF It's securities Inc
available balance Of the third mortgage ponds ana
nearly 80 900 900 OF branch line bonds make the 'o
sum- The price and the particular branch-lhe oohds
we're not made known by the officers OF the company
Yesterday The sale Is to q syndicate, headed oy
Henry Willard and the bonds will so TO Europe where
the bulk OF the third mortgage Is already held The
transaction is said TO exngush the floating debt OF
the company and to leave something less thah
90 600 900 In the treasury be expended In improve
ments.
In addition to the sale Of bonds It was learned that
an Independent company with capital OF So'ooo'ooo
had been formed for the explicit purpose Of supplying
the railroad with equipment. over two-thrdS Oh the
capital have been subscribed. and the success VI the
scheme has been assured far that large orders fo
engines and cars have been placed. The equipment
company Is composed of large stockholders anu
directors Of the Northern Pacific. but IL Is en-.
firely a separate organization and the railroad IS
not bound for ANYTHING hey the rental OF the equip
mcnt furnished TO IT,
TIE QUESTION OF DETRIMENTAL RATES.
There is strong hope in trunk line circles that the
negotiations set foot for securing settlement 81
the dressed beef controversy will meet With success
as Philadelphia advices indicate that the Pennsyi-
vania Railroad people are disposed to meet PROPOSE
lions for conference with good spirit. AS regaius
the chief obstacle the way Of setement-the ciain
OF the Erie for drerental rate-it Is thought that
this NAV be removed by the course Of traffic for the
next few weeks Within that time It Is expected that
the Erie will have evened up It's dressed beef and
cattle traffic les proportion OF the whole BUSINESS
and them It Is argued, It will be without the ground
on which It asked and obtained from Commissioners
Fink and blanchard the lower rate that is objected to
/ by the stronger lines.
II this should prove TO be the case the Graho
Trunk OF Canads would then remain to be confronted
With the issue Of whether It was willing to Cooperate
with the American roads or Intended TO proong the
decentralization that is laid at its doors. AS soon as
Mr. Fink returns from Europe he will be urged by
he Pennsylvania and the Vanderbilt lines to revoke
the authority given to the Erie and the Crand trunk
10 make lower dresscd-beet rate than The others en-
JOY
AN ELECTRIC ROAD IN wEsTCHESTER COUNTY.
The articles OF incorporation OF tne Ihcs'S'i
White Plains and Tarrytown Railway Company were
fled Yesterday In the County Clerks office at White
Plains The capital stock is stated to be So OC0
1t Is proposed run the road from Port Chester 10
Tarrytown, passing through the villages Of White
Plains and Emsford. Electricity Will be used in orer
ating road The directors Of the company are lv
ing ". Young John NJ. Bgmey and James H. Moran
Of White Plains, Birg a. Krepps Of Kensico. james
f. Miller and Jacob NJ. Schuyler Of NewYork City
and Frank H. skeele of Brooklyn. Mr. Miller will be
president OF tho company, Mr. Skeee vice president
and Nj Schuyler secretary and treasurer The com
pany viii make application for franchise to ootaii
tho right OF way for It's road the village Board
Trustees of White Plains It's next meeting 1t II
said that the company has already obtained rlght
way from the Board OF Trustees OF Port Chester
DEADLOCK IN THE SOUTH PENIS AFFAIRS
Pittsburg Aug % (Speciap.-Last nights Chron
icc-Telegraph' had column Interview on the AFFAIRS
Of the South Penn Railroad with man whose name Il
not given. "The Chroncle-Telegraph' is partly
owned by Ralph Bagaley, leading holder OF soutl
Penn stock The substance OF the Interview Is II
part as follows "The Pttsburg stockholders hav
not yet signed the organization scheme The Phla
dephla stockholders have signed, and the New-fori
els are wiling sign, ii they have not already done
So This deadlock IS expected to result In anothe
ntermnabe delay The margin Of time In which Il
complete the work IS quite short II the time lapses
the rights under the charter fall, and new ehare
would not give the company the present com
company is said to hold several rights of way
points which would destroy the whole South Pen
enterprise If the latter road lost those rights by ID
Il lapse Of its charter. II is reported that the Pltt
burgers wanted some sort of an agreement win III
Vanderbilt before giving up their rights
n THE READINGS REPORTED DESIGNS.
+ Philadelphia, Aug. % (speciaA rumor that wa
+ not denied al the Reading Railroad to-day has game
y considerable credence among eknown railroad me
trl and
place tie Central Railroad Of New-Jerscy under II
y management 1t is also asserted that President Co
bin owns almost enough Central stock control n
e road aud his large purchase OK hhlgh Valley ho
, lngs has given him control OF $4,000 shares. Tn
" stock the report goes, Mr. Corbin will sell TO d
. Reading which Will give them control of tho Contra
J. COAL RATES AT CHICAGO TO BE ADVANCE
% Chicago, Aug. Ca local paper says " At Il
next meeting OF the local Coal Exchange the price
hard coal VIII be advanced twenty five cents per 10
n % meet the advanced freight rate the railroad
,r which goes into effect September Several dealer
lie In discussing the situation yesterday, said that,
III FAR future prices wero concerned, few men
., New-York would determine In few days what won
no done II hey did no. s, ,aSS the mining rr s
n Aers would simply be rails d to mect the increas
ot freight rate TO Buffalo, TO daio from September In
MISCELLANEOUS RAILWAY INTELLIGENCE.
Sioux CITY, Iowa, Aug 22-The conference OF ailro
I" officials adjourned from Chicago TO Sioux City. h,
here to-day consider tho Illinois Cenraps
" feducOn ffth.cass freight 10 twenty cents botwe
al Chicago and Sioux City All roais except II in
o. Central emphstcay refuse to aceede to the reducu'
The Cenras goes into effect Saturday. but
more conference will be held the subject at Chie1
hat day Mr.. Wicker declared that II the Cenrals q
goes into effect 1t will extend freight demo all
" to all Missouri River points.
BY indianapolis Aug - (Speeall-It Is stated hero
ok good authority that negotiations IRE pending which
CO probably lead to consolidation Of the Lsalsyn