The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-11-28
AFFAIRS OF THE RAILWAYS.

Annual Meeting of the y. ", L. +. & W.
New YORK. Nov. 27.-The annual meeting Of
the New York. Lake Erie 6 Western railroad
was held to-day. There was no opposition to
the regular ticket. and the only changes made
in the board of directors was the substitution Of
the names OF II. Reynolds aud S. NJ. FELTON, for
W. 3. Dinsmore, deceased, and James Ogden.
The new board of directors is as follows: John
McCulloush, Ogden Mills, J. Lawber Smith,
VIM. w~hitswricht, VIM. A. WheeIock, George
Quintard, VIM. Libby. Cortlandt Parker, Morris
X. Jessup, James A. Goodwin, Josiah
Bedin, NJ. F. Reynolds aud 5. NJ. FELTON,. jr.
Stock and bonds TO the amount of 500, 095, 400
were represented at the meeting. and the vote
was the largest on record. President King
voted on s29. go, 700 stock and 81, 100000 bonds.
and Messrs. Mills and Mccullough jointly voted
on $34, 96j, eco stock and S23, 058 bonds. The an
nual report presented to the stockholders showed
gross earnings for the fiscal year ended Sept.
30. 1883, of s24, S32, $40. an increase Of s622. 643
over those OF the preceding year; the operating
expenses were s18.0 03, 400. an increase OF s6l2,-
749; net earnings, Sc, 629, $50, an increase of
1866. The income from other sources amounted
10 1897 $40. making the total net earnings
SI,I61,1 $50. The fixed cha -ges amounted to
STOPS. 348. a decrease OF $50. 1876, leaving o sur
plus of s736, 842, an increase of $l37,044
The West-BOund Freight War.
NEW YORK, Nov. 27.-The Telegram this
morning says: Shortly after noon to-day it
was reported that the Pennsylvania and New
York Central people were engaged in the consid-
GRAFTON Of a plan by which freight rates will be
at once fully restored. and that all the trunk
lines have agreed TO abide by the course adopt
ed by Presidents Roberts and Depew. This re-
port was confirmed by Mr. Depew when called
upon az the Forty-second-street Depot He said
he believed the matter would be thoroughly set
tied by 6 o'clock this evening. 'if not arranged
immediately he added. Il know that some Of the
roads will take no part for the next month in
any attempt to compromise the difficulty. /
am confident, though. that Mr.. Roberts
and myself will strike some. plan suitable TO all
parties From other sources OF it
is learned that Drexel, Morgan & Co. are still
at work epdeavoring to bring the Pennsylvania
and Now York Central people together, and
they intimate that indications are now more
favorable than at any time since the New York
Central cut was made. IL is also asserted that
the Erie, the Lacka@anna, the Reading and the
Ontario & Western have agreed TO restore rates
Immediately II tie Pennsylvania and New York
Central companies will agree upon some plan OF
settlement. Among other rumors current was
one that President Roberts and Nice-president
Thomson, of the Pennsylvania, had rendered
their designations. The report that Messrs.
1890 1 '
not credited in some railroad quarters
Dir. Depew said. tonight, that there is no
foundation for the Telegram article, and that
the rate trouble has not yet been settled. He
would not say whether or not it was nearer set
Element than it was yesterday.
Late Decisions of the Interstate Commission.
The Interstate Commission has. within the
last few days, rendered several decisions affect
ing travel and traffic, the most important of
which are as follows:
A complaint made for the purpose of retalla-
ton fer a fsncieG wrong. SO as to get even with
q carrier for the revocation Of complainants
pass, does not commend itself to the commits
sion.
A carrier which has conformed to the ruling
OF the commission should not be prosecuted for
alleged violations of the law in that respect,
which have occurred before such ruling was
made and under a construction Of the law then
approved by the carriers counsel.
Free transportation, issued in the form OF an
annual pass to a person not in the regular and
stated service OF the carrier, nor receiving any
wages or salary under q contract Of employ
ment. but requested by him as compensation
for throwing in its way what business he con-
veniectly could, is held TO be illegal.