The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-10

Stockholders of the c., II. e. D. Increase
Its Capital Stock and Bonded Debt.
Several Millions to Be Spent In Improving
Terminals and Acquiring New Lines -
Train Changes on the Big Four.

c. w. Fairbanks, one of the st ockholders
and general solicitor of the Cincinnati.
Hamilton s. Dayton road, went to Cincin-
natl, yesterday, and attended the special
meeting called to vote on the increasing of
the capital stock and bonded debt of the
company. 1t was q called meeting of the
stockholders for the purpose of voting
upon the subject of increasing the capital
stock of the company by the addition of
10000 shares of common stock of the par
value of 500 per share. "for the purpose"
as the off cial stated. "of constructing Sec
ond additional track, extending its line
or constructing branches, increasing its
machinery. rolling stock. depots. and for
the purpose of paying off any unfunded or
floating debt, or for either or all the pur-
poses aforesaid" Also. for the purpose of
voting on the subject of authorizing the
issue of SS.OO0.OOO of five-per-cent. general
mortgage gold bonds running fifty years.
and the execution of a mortgage to secure
them. Both propositions were ratified.
What Will be done with the money thus
obtained Is not clear. as the purpose. as
given Ill the call. allows wide latitude In
its expenditure. One projected improve
ment is the building of q central depot in
Cincinnati. with an elevated approach. In
financial circles good deal of interest Is
felt in the action taken yesterday.
as it is believed that some OF the
in acquiring new lines as well as improv-
ing terminals and recently acquired roads
The increased bonded debt does not bond
the road as heavily as q majority of the
Ohio roads and most of the Indiana roads,
ar 10 financial
road circles that while the C., II. 81 ID. is
one of the best earning properties In the
West there is such thing as overlooking
il with poor roads. Others believe that the
roads recently acquired and those which
rumor says the company will eventually
acquire will develop as paying lines The
Dayton. Fort Wayne 81 Chicago and the
Dayton 81 lrOnton have shown handsome
increases IL earnings In the few months
the c., III. & ID. has controlled and properly
equipped them.
Another Wall from Chicago.
The fact that east-bound shipments of
grain from Chicago have fallen Oft until
they are thousands of tons short of the
volume that was moving at this time last
year is regarded as q sure indication that
the bulk of this traffic is going east By
other gateways than Chicago. The Trunk
line Association has authorized o rate of Is
cents per 100 pounds on grain by lake and
rail from Chicago to the sea-board. as
against the all-rail rate of 20 cents. Yet
the report reached Chicago yesterday that
the New York Central has made contracts
for the transportation of ZOO. 900 bushels
of wheat by lake and rail from Duluth to
New York at a through rate of ia cents
per 100 pounds. which includes elevator
charges at Buffalo and all terminal charges
in New York city. Against the Chicago
rate of Is cents, the rate from Duluth
should not be less than 17l5 cents. 50 that
the new rate is regarded as cut OF 10 cents
per 100 pounds.
Last week the eastbound shipments of
dead freight from Chicago by ali the rail-
roads amounted to %, SOS tons, against ST.
912 tons durlng the previous week. and
65.50S during the same period last year.
The shipments of -four. grain and prov,s-
roads in the Central Traffic Association ag-
gregated 1882 tons, against 20,179 for the
preceding week. a decrease of 1867 tons.
and. against 1881 for the corresponding
week last year. q decrease OF $500 tons.
The business was divided among the sew
eral roads as follows: Vanderbilt lines, Al
per cent: Pennsylvania lines. 80; Chicago
a. Grand Trunk, IA; b. 81 o., IL
Improving the Big Four Train Service.
On Sunday next the Big Four will make
several radical changes in the running of
its express trains and put on two new
trains. running solid between Cincinnati
and ST. Louis in both directions. The
train will leave Cincinnati for St. Louis
at $40 p. NJ; reach Indianapolis at $50 P.
NJ, and leave for st. Louis at 10 p. NJ. The
Chicago express will run as il now does.
leaving Indianapolis at 11:15 p. NJ. Tor Chi
csgo. Coming east. Train IL will leave st.
Louis at 7:55 p. NJ: leave Indianapolis at 3
nd att ID,
10 will leaveSt- Louis at S:45 p. NJ; reach In
dianapolls at 4:45 A. Ne. and leave at A. Ne,
reaching Cleveland ut 2 p. NJ. Commend
Ing with Sunday next this train will be
ion. as formerly. The Peoria IL Eastern
train from the west will arrive at 4:45 A.
NJ. aud leave &C 5 A. NJ. connecting at
Springfield. o.. with Train IL from Cincin-
to Columbus. o. On Monday next trains
of the Whitewater road will begin to run
through to New Castle, connecting with
trains OF the Peoria * Eastern In both di-
rections. There are some other changes.
but not of sufficient Importance to notice
30 fully.
The PennsyIvsnis's New Equipment
f.. b. Wall. superintendent of motive
power and rollin g-stook of the Pennsylvs-
mia lines west of Pittsburg. was in the olty
yesterday. In conversation he stated that
seventy-hye new locomotives would be
built this year. These will BIO equally di-
vided between the northwestern and
southwestern systems. For the sou west
ern system twelve have already been re-
ceived, seven modified class "O' passenger
engines ana five class X" freight engines
Orders have been issued to build fifty pas
senger coaches at the Columbu shops anu
twenty-five at the Altoona shops. for tho
lines west of Pittsburg. and q contract for
fifty passenger coaches will be placed to-
day with the Ohio Falls car-works, at JEFF
fersonville. General superintendent Mil
Ter and Mr.. Wall Will 60 to Jacksonville
this morning with the specifications. ALI
are to be OF the best Pennsy lvania standard.
Cut Passenger Rates.
No little excitement existed. yesterday
In Northwestern passenger circles over the
report that heavy cuts are beina made by
lines east of Chicago in rates to the Repub-
lican national convention at Minneapolis.