The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-14
AFFAIRS OF THE RAILWAYS


The l., B. &. w. and O.. 3. g. C. DeNl4
The failure of carrying through the pro, ssd
eo1solidation of the Indiana, Bloomington &
Western road aud the Cleveland. SanduslSy q
Cincinnati Is attracting much attention. and is
considered unfortunate for both parties. Below
Is published an article, or, at least, the inn
portant features of it, which appeared in the
New York Commercial Bulletin of last Satur-
day. which sheds some light the transaction.
and will be read with interest:
1T IL stated on the best authority that, sirIce
the negotiations between the l., b. a W. and
the e. ;. q c. companies were terminated by
reason Of the failure of the Indiana, Blooming
ton q Western purchasing committees to make
satlsfactory proposition To its connecting line the
friends Of l., p. 81 w. have not been losing time
In making their position secure against any re-
faliatory movement on the part of the c., > g e
road Some days they made an application
before a Western judge to have the L, Il. 81 w.
receiver discharged; the purchasing COMMITTEES
having secured the property at the foreclosure
sale of ths road in May last. and having for its
own convenience permitted the receiver 10 con-
tInue In charge of the property until recently.
The judge is reported to have granted the apDti-
cation Of the l., b. g. w. people. and vacated the
receivership. somewhat to the surprise OF Pres
ident Farlow, of c., s. a. c.. for which reason
il became necessary that the property shonld
be turned over to the Ohio, Indiana &
Western Railroad Company, the successor to
the Indiana Bloomington 81 Western under the
reorganization The whole affair was co nducted
very quietly and no notification of the deter
mination Of the receivership given to the
public, beyond that contained in q circular pub
lished recently which. though stating the facts
in the case did so in such a manner that the
real situation not given out. The Sandusky
roads stockholders are not. rule willing to
acknowledge that the Indiana, BLOOMINGTON and
Western receiver is discharged, and there has
been something said about the judges decision
being reversed. IL ia generally accepted, how
ever, that the road is free from receiver. A
few days since Mr.. Farlow, of the c., S. g. c.
road, came from Boston to this city with
bis counsel to confer with the Corbin
party. representing the l., B. w. in
terest Mr.. Farlow ir is said, visited
New York in furtherance OF plan of the San
dusky people, to get an injunction against the l.,
b. & w. receivers discharge, they would be
unable to obtain redress for any grievances
against the Indiana, Bloomington e. Western
company were the latter's property turned over
to q corporation by legal process. While
in conference with the Corbn party, Mr. Farlow
learned that the receiver had been already dis
charged. Approaching the fact that the l. B.
e. w. had through it's action obtained the
terry of the situation, Mr. Farlow Immediately
dispatched counsel to the West, with instruc-
tions to obtain attachments upon any l., B. e.
w. property which might be found upon the c.,
s. 81 G. lines The counsel, however, found that
all l., b. s. w. rolling stock had been with
drawn. and nothing remained to seize"