The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-28

AUSTIN, Tex, March ZL-AtLofnsJ -&ouot0S
Hogg to-day fled a suit in the District Court 70
epjoin the Texas Traffic Association from con-
tinuance Of it's business. The petition names
the following corporations as comprising the
Traffic association. The Missouri Pacific; the
Texas q Pacific: the Houston & Texas Central;
the Gulf, Colorado & Santa Fe; the ST. Louis.
Arkansas e Texas: the Fit Worth & Denver City;
and the Houston, East 81 West Texas; also, the
ST T,ouia S iron Mountain; the Memphis q
Little Rock: the St Louis & San Francisco; the
Shreveport & Houston; the Kansas CITY, spring
field 81 Memphis. and the Kansas City, Fort
Scott & Gulf foreign corporations controlling
railroad lines in Texas. The injunction 10 asked
only as against Texas corporations and the Texas
Traffic ASSOCIATION. The petition charges that the
association is conspiracy, contract, comolna-
ton and co-partnership. forming consolidation
of parallel and competing lines, which is or
ranized monopoly that is menace TO commerce
and in defiance of the constitution and laws OF
Texas; also, that in fixing the charges for
competing lines the association prevents
fair petition; that it is unlawful and injur-
ions to the whole State, and that II is against
public policy and oppressive to the agricultural,
mercantile and general business interests. With
the petition is filed exhibit containing copy
OF the tieles Of agreement and rules governing
the Texas Traffic Association.
Changes Among Panama Railway Directors
NEW YoRK. March 27--It was reported on
the street today that there to be an entire
change among the directors of the Panama
Canal Company. Investigation showed that the
directors OF she Panama Railroad Company were
referred to, and not the canal company. The
annual meeting of the railroad company will be
held next Monday, and the entire board, with
she exception Of Mr. r. W. THOMPSON. the vice.
president, will resign. General Newton. of the
board of public works of this city, will be. it
lie reported, the next president j. G. McCul-
Tough, now president of the road. says his reason
for Withdrawing is that he requires more time
for his private and other interests. He declares
that the road is in excellent condition In talk
ing with reporter, he added II should prefer
70 leave the road when il is il good shape.
There will not be much business for the rail
eoad when the canal is completed. But that
will hardly be day after tomorrow. The Pan
ANA Canal Company, you see, owns
O majority of the stock of the railroad.
lie needed the right of wav for its canal
Reross the 18th mus. The stock purchased
in 1880, and the new regime began In 1881 The
canal company is French corporation and the
railroad is New York corporation. The rail-
road made nearly 9 per cent. it's capital stock
in 1857. II had $500, 900 in the treasury, will
be shown by the annual report, to be submitted
on Monday. 1t will. be able to pay per cent.
dividend in July. and paid per cent dividend
in January last. The com pany doesn't owe a cent,
except it's funded Indebtedness. and there is not
q suit against the company in the United
States"
The annual report for 1887 of the Panama
Railroad Company, which will be submitted at
ings, So 4S9 582; expenditures. including inter-
est, So. 500 75l; net earnings, $619 83l Increase
1886 in gross earnings, $438, 022; decrease of
expenditures, $63 227..