The record-union., 1891-02-19
THE RAILROADS.
Annual Report of the Chicago and
Alton.

Annual Report of the Chicago and
Alton.
CHICAGO, Feb. 1S.-The twenty-eighth
annual report of the Chicago and Alton
road shows gross earnings the past year
of s., 330, $50. The total disbursements
for the same period, including operating
expenses, taxes, ETC., were S,25S, l33,
leaving balance of SS1, III The actual
net earnings were 81, 6S3, ,751, decrease of
S261, ,12S as compared with last year. The
gross earnings show decrease of $3.50, ,S63,
and the operating expenses decreased
SlS9, ,734.
President Blackstone refers in plain
terms to the secret rate-cutting of last
summer, whereby the Alton lost much
business. The agreement between the
southwestern Missouri River lines he
says, fell very far short of realization
| The deploring tendency of State legisla-
ton against railroads, he says, in the
group of nine Western States west of In
diana, in which about one-third of the
whole railroad mileage of the United
States is located, is such that in 1889 more
than four-fifths of these lines failed to
earn any dividends for their shareholders,
and that the capital stock representing
such non-dividend earning roads amounts
to more than one thousand million dol
y
stone, in the Legislatures of the several
States lnlthis group there are one or more
bills under consideration for a still fur
ther reduction in the railroad earnings.
THE Los ANGELES CABLE ROAD.
CHICAGO, Feb. 1S.-A morning paper
publishes a review of the litigation in
connection with the Pacific Railway
Company of Illinois, which owns the
Los Angeles Cable Road, and which re-
Gently put it into the hands of receiver.
Among other thing it gives a summary
of an affidavit by Charles C. Whitacre
representing some OF the creditors, in
which it is claimed that the suit under
which the company placed it in the hands
of the receiver is not in fact in the inter-
est of the creditors, but of certain heavy
stockholders.
1t is set forth that when the Pacific
Company bought the Los Angeles cable
road the latter was bonded for 81 500, 900,
SS36, 600 of which bonds were held by the
Bank of California, and that the road was
not worth that amount; that the directors
and officers OF both corporations are the
same, and that the buyers and sellers in
the transaction are the. same, notwith-
standing which S2,500,000 in stock was
issued on the property
The answer alleges in other words that
for the privilege of trading they gave
themselves s., SOC, 900. A number of capi-
| talists, banks and corporations ofthis city
and st. Louis are creditors to the amount
of 81 ,237, 900.
In addition there are floating debts of
$3.50, coo and $SS6, 600, owing to the Bank of
California of San Francisco, which, how
ever, is secured by an equal amount of
bonds issued by the Los Angeles Cable
Road Company.
UNIFORM BILL OF LADING WANTED.
CINCINNATI, Feb. 1S.-The National
Transportation Association, now in
session here, adopted resolutions to-day
asking Congress to take measures to COM
pei the carriers of the United States to
furnish all shippers with uniform bill
of lading, in which common law liabil-
lty only of said carriers will be expressed.
and an early establishment of uniform
classification, the rules and conditions of
which shall be just and reasonable.