New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-03
RAILROAD INTERESTS.

A RAILROAD MANAGER IN DEMAND
Boston, Feb. (speciaD -" The Beacon has the fol-
lowing "It Is current gossip in local railroad circles
hat the position of general manager Of the Baltimore
and Ohio Railroad system has been rendered to Charles
s Mellen assistant general manager and general pur
chasing agent of the Union Pacific Railroad Company
and formerly general superintendent OF the Boston
and Lowell. Mr. Mellen is also understood to be still
considering the tempting offer from New-Engsnd
road alluded to some time SINCE 1t Is an open secret
also that Mr.. Melen has had standing offer for more
than a year OF $4,000 salary from a New-E England
road; that still another prominent NewEngland road
has recently had some negotiations with him; and
that last spring. when New-York and New England
was selling in the vicinity of $50 per share capitalists
bought largely of 1t and made proposition to the
president that if he would give Mr.. Meen tina active
management of the property they would increase their
holdings 10 $4,000 shares. The proposition was de-
cined but the profit upon tho stock purchased turned
out TO be the best speculation that the lean year
1888 Witnessed
THE READINGS BOOKS TO BE EXAMINED.
PhiIadeIphia rob . (spcciaf The petition OF the
Reading third preference bondholdeTs to their trustee,
the Pcnnsylv aDia Company, for assurances on lives
and granting annuities will be presented on Monday
or Tuesday, signatures for about double the required
amount having been procured The trustees Will,
therefore, ins ttute thorough examination Of the
companys books. According to reports. tho pIin-
cipal discovery that will be made VIII
be that railroad bookkeeping is mysterious and per
picking science. The receivers, 1t is said handed
TO the company nothing but list Of obligations
expenses, the noatng debt and son.c back interest
the reorganization trustees are SAID TO nave turned
is predicted that the examination VIII not prove as
satisfactory as was expected ana that the DondhOloer
VIII not care TO take the case into court
DOUBTFUL OF THE PRESIDENTS AGREEMENT.
Chicago, Feb 2 (speciaD.-The Evening Journal
prints the following: know Of only one executive
railroad official in Chicago, except the presidents who
thinks the presidents agreement will be signed by all
roads interested said railway official this morning.
Even the one exception spoke of is doubtful II the
agreement Will stick even II IL signed Tho agree
ment stronger than has hIterto been made, but
its strength its greatest weakness 1t IS easy to keep
an agreement that IS full Of holes as sieve. The
fact that there are few loopho1es In the present
agreement will make It all the CALLING, II IT IS
finally signed. tell you that when any road gets
moro than its due share Of any traffic there is only one
explanstion In railroader's mind. That road IS
cutting rates The competitors OF the road can't
prove once In ten times, but they
can get back their proportion of the trsnie by
cutting rates. They always have done ia and DO
Ieve they always VIII do II.
VIII give the presidents credit perfect candOr
when they say they believe the agreement will work
But how many practical railroad men arc among the
western presidents Not to exceed three one or
these three all along been shepca Of the success OF
the agreement and IS so to-day. He told me within
fifteen minutes after the presidents final adjournment
that he didn't believe there the least chance,
unless Walker accepted the oharmanship. Between
you and me walker is not such chump as &c accept
the ohalrmsnship unless things are arranged 70 SUIT
him. His acceptance would XIII him polldcaly' anu
he runs the risk at all times OF having his name az
ISOLATED as chief executive officer with gg2nuc lsil
s N ~ sn the Dan work but an not one Of those
who thinks II viii"
wa TIC
Escanaba. Mich, Feb. 2.-H The Escsnaba Calumet
says that massmeeting win be held Monday even
Ing to consider the new railway project. Tho Es-
csaaba, Twin City and Western Railway prospective
route not parallel the $500 road, is pretty
generally supposed by those familiar with H. The
prospective route takes a southern direction from
.Fscanabs touching at Amigo Merrill Medlnord and
Chippewa Falls. From this point II win penetrate
Minneapoits and St Paul. IL wiz make Escauaba a
lake port for grain General Alger and other cap
talists are backing II up.
Charleston, S. c. Fob 2 (specaD. Proceedings were
begun I'm the United States Court to-day for fore
closure Of Che first mortgage on the South Carolina
Railroad which defaned ON the interest on rs second
mortgage bonds on January /. Tho petitioner Is
H. p walker, formerly British Consul at this port,
ana one of the trustees under the first mortgage
The court decided that the motion could only DO enter
tanned on a ruledsy, which is the first Monday OF
every month"; and, as the court goes 70 Greenviiie
frst Monday in May unless counsel 90 10 Greenvlle,
300 miles distant IT IS not improbable that the West
Point Terminal VIII become the purchasers OF the
road under foreclosure sale.
Montreal, Feb. tspeciaD -James Ross who has
made reputation for himself contractor in con-
strtcting some Of tho most difficult features Of the
Canadian Pacific Railway, has made a contract with
the Gillian Government 10 build IN Chill some 700
niles Of railway, 10 cost about s2e 900 O0O and has
sent staff OF engineers TO make surveys These
railways comprise the following routes Los Yalor
= Illapel and Salamanca; Calcra 10 Ia Ligua and
lzpildo; Tslca TO Constellation; Chico to Mulchen
santiago 70 Mepilla Victoria 10 Yaldiya and oeorno.