Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1888-11-02
RAILWAY MATTERS.

Trunk line rates have not been so firm and
so well sustained for years There is no in
timation of cutting on business, either east
or west bound, and in spite of that the busi-
ness continues so large that all the companies
report daily shortage Of cars. 1t is impos-
sible to place any orders for motive rover
for immediate delivery and the car works
are all full of orders.
The New York g. New England road finds
business quite lively in Connecticut Just at
present. the political campaign necessitating
the carrying of large delegations of torch
bearers from one town to another nearly
every night.
Treasurer Blanchard, General Passenger
Agent Flanders and Assistant General Pas
senger Agent Storer of the Boston e. Maine
are visiting the various station and ticket
agents on the Passumpsic division to
consult with them regarding returns and
accounts. special car took them from
Boston.
Engineer Potter of the New York g. New
England is one of the youngest engineers on
the road. but he is also one of the best. He
runs the 3 o'clock ''limited" between Boston
and sWillimantic, and is famous for always
being ION time" He is also famous for al
ways appearing with clean shirt and COL
lar, and though no "dude," is one of the
neatest looking men to be found anywhere
on locomotive.
The annual election of officers Of the Dan
bury & Norwalk railway resulted as follows:
President, f. st. Johu Lockwood; v1ce-presi-
dent, Y. ID. Merritt; secretary and treasurer,
Z. e. Robinson; register, L. G. Belts: direc-
tors, +. st. John Lockwood, William H.
Starbuck, Charles L. Rockwell, Charles H.
Merritt, John H. Macauley, William B. g.
Lockwood, John H Perry, Eben Hill, J. A.
Bostwick, Stephen Fl. Smith.
An important law suit involving about
$4O0,OOO is now in progress in the United
States circuit court before Judge Howell E.
jackson. 1t is the Wabash, st. Louis and
Pacific railroad litigation, on the application
to the court on behalf of parties interested in
the mortgages on the railroad property
seeking to restrain the court of common
pleas of Lucas County, Ohio, from selling
the property under decree of that county
while such property is in the jurisdiction Of
the United States circuit court The next
question to be considered is the consoli-
datlon of the suits pending to foreclose the
different mortgages on the company's prop
erty.
The Chicago, Rock Island & Pacific is
rapidly pushing its way into the southwest
i'll an effort probably to head off the Atchi-
son, Topeka & Santa Fe. 1t is now authori-
tatively stated that the Rock Island is ar
ranging to build direct from Liberal, Kan,
to El Paso Texas, and this is of particular
significance when considered along with the
building of the Kansas City, Ell Paso g. Mex
leo. The latter company have 1000 tons of
steel rails en- route from New York and
about twenty miles of the road bed are
already graded
The actual gross earnings of the Kansas
City, Ft, Scott '&J Memphis for Sept. were
$377, ,O42, decrease $43, 396, and since Jan,
$3O6, 976, decrease $3S, ,742.
The first passenger train to pass throupb
W1ckes tunnel on the Montana Central wa
an excursion train to the Boulder barbecue
The passage through consumed Just 12 min
utes. This time will probably be reduced to
seven or eight minutes when the fast passen-
ger trains are put on which will be by the
10th of November. The opening of the tun-
mel marks the completion Of 10 of the most
gigantic pieces of railroad work In the
northwest The tunnel is about 620O feet
long, nearly all of which is through the solid
rock. Work was begun on the tunnel in
May, 1887, and daylight was let through it
in September, 1888. 1t was constructed by
Lawson, Keefe & Co., and is said to have
cost 81, 100000.
Southern Pacific Railroad Co. has filed a
deed of trust to the Central Trust Co, of
New York, conveying to the latter, tor the
purpose of securing the payment of a mort
gage of $3S, 0O0, 600, all tne property of the
company, also of branch roads which have
been amalgamated with it. To secure pay
ments of these deGts the Southern Pacific
Co. will issue $4,000 bonds and will create a
sinking fund. After the year 1898 the com
pany will pay $50, 900 per month out of the
net income and continue until the debt is
paid.
director of the Chicago, Burlington t
Quincy makes the cheerful and satisfactory
statement that the company has sufficient
money in the bank to pay upon any day
without notice every unfunded obligation.
This is the first good sound reason that has
been presented why the stock should upon
its present earnings continue to sell 10 per
cent. above par.
The Missouri Pacific is among the roads
which find their equipment inadequate, and
1T is the development of the humber trade
that makes this extra demand upon its re-
sources. The Arkansas lumbermen are
calling for thousand more cars than the
company has to spare.
Both the Chicago & Eastern Illinois rail-
/ way and the Chicago & Indiana Coal rail-
way have declared quarterly dividends of
l-2 per cent. on their preferred stocks, pay
able December l. The books of both COM
panies close November II and reopen De-
cember 8.
The annual report of the Boston & Albany
for the year ended September 80 compared
with 1887, shows: Gross, IS, 49,, ,664 decrease,
S43,0Sl; expenses, S6,471, ,956; increase, $91,-
320; net, 81, ,410, 70S; decrease, Sl41, ,4iO; in-
terest, rentals, and dividends S2,34O, 900;
surplus, 500 sos; decrease, Sl41, $50; surplus
September 3d. 1888, $497,022.
1t was expected that the Boston g. Maine
would carry over part of the loss by the
Bradford accident to the next year, but, fol-
lowing the conservative policy which char
acterizes New England railway manage
ment, the whole sum has been written off at
once and so the Boston & Maine which, un-
der the contract between the two corpora
tions, is entitled to 10 per cent. before the
Eastern gets anything, has been compelled
10 reduce its dividend to s per cent, and,
thnrefnra the Ea staln nats nnthinor