The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-19
ITS DEATH DRAWING NEAR
More Evidence that the Western Traffic
Association Is on Its Last Legs.
Gould Lines Fail to Send Representatives to
the Meeting of Commissioners-lngalls
in Favor of Profit Sharing.

Since the last meeting of the Western
Traffic Association. and particularly since
the Burlington filed its twenty days no.
tice of withdrawal. il has been generally
conceded in railroad circles that the or
ganization is on the verge of dissolution.
Additional evidence OF this has Just been
furnished by the Gould lines in their fail
ure to send Representatives To the meeting
of the board of commissioners, which was
held at Chicago yesterday. The meeting
was called especially to hear arguments
and testimony in appealed from the
Transcontinental and Transmissouri asso-
ciations, and yet neither the Union Pacific
nor the Missouri Pacific was represented In
any manner. The inference IS that Mr..
Gould regards the presidents agreements as
a dead letter. and viii take no part in the
apparently hopeless efforts 10 keep the
Western Traffic Association alive. The
b1aTd was chiefly occupied yesterday IN
the consideration of the Southern Paclhe'B
proposition to reduce freight rates east-
boand from the Peciic COAST. In addition
10 the big reduction proposed on canned
goods and other commodities TO New \ ork,
Chicago. ST. Lonis aud New Orleans, to
meet the competition OF the clipper lines.
that road asks authority to make general
reduction III merchandise rates from San
Francisco To- Colorado points. he COM
missIoners heard the arguments for and
aEsinst the reduc tions and took the mat
Der under advisement
Forecast of the &. & O. Annual Report.
PRESIDENT ingalls, and Traffic Manager
Murray, of the Chesapeake II Ohio road.
have their annual statement for the year
sndlng June 90. 1852, ready for the press.
and rom 1t below Is given some OF the I'M
portant points which the report shows:
Yer endif O JaAc go 1891. 1892.
Mies operated 1884 ess
Gross earnings. .-.--s8 127 ,lll.Os 5000 ,59ell
Operating expenses,
maintenance and
taxes. .-----.--.--- 6,os3.5i9io 6,7sl73i.2s
sa.o4a.5ol.ee s2.21a,a~. IS
Interest on funded
debt loss on grain
elevator, etc.-.-.--.. l,S2J,'ol.zO ol,ofo.os
Surplus se19.slo.7s saol.sl9.49
As AN indication of the growth of bust
ness through Newport News It may be men,
toned that the exports through that port
To foreign countries increased from S'"95l,-
IA IN the year ending June 30, 1891, to Sl4.-
t4.367.
The coal traffic was in 1883, in round
numbers, one million tons. while this year
10 will be two millions. giving revenue of
fz25 0C0 zoo. When the work ut Newport
News. now under Roadway, Is shortly COM
pletcd, will have three 9OO-foot merchan-
disc piers. one large lumber pier, two i'm
proved coaling piers and large passenger
pier. with modern depot The grain ele-
vator which is one OF the largest on the
coast. has q capacity of 100000 bushels.
The yards at the News a few years ago had
capacity for two hundred cars,
which we have increased to two thou
sand. In 1888 the earnings of the &. X o..
were short of ST. 200 600. while for the year
ending June 81, this year, they are $1,000
200. of which sS.Os7.O00 will be derived
from freight traffic and 81. 9l3. 900 from pas
Benger. At the close of the fiscal year the
company had 81 068. 004.5s of operating as
sets. against 81 .564, 710.z5 operating liabili-
ties with which to meet accrued interest,
etc., in spite of the charging of so much
new work to operating expe nses instead of
TO capital. The main line is laid with
seventy five pound steel. stone ballasted.
ald, together with the rolling stock. great
ly AUGMENTED during the year, 10 in the
finest condition. Now. for the first time in
its history, the Chesapeake d Ohio seems
to have reached q dIvidend-producing
period.
Favors Profit Sharing.
1t Is stated that NJ. E. Ingalls,, president
Of the Big Four and the Chesapeake &
Ohio roads Will close his annual report by
suggestion how to solve the labor prob