The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-24
COAL ROAD GOBBLED
The Lackawanna System Secured
by the Vanderbilt Interests.
Canadian Railways Now at the Mercy of
the New York Central-Receiyer
for Michigan Line.

Developments at New York, yesterday,
show that there has been change in the
control Of the Delaware, Lackawanna &
Western railroad system which extends
from the coal fields of Pennsylvania to the
great lakes. 1t is now included in the Van
derbilt sphere of railroad influence. Forty
thousand shares OF the stock of the road
were yesterday transferred to the name of
William K. Vanderbilt. 1t is said that he
had bought about fifteen thousand more
shares. which would be formally put in
his name. 1t turned out that Mr.. Wander
bilt had entered into an arrangement as to
the Lackawanna with Frank Work, the
owner OF thirty thousand shares, and with
J. Rogers Maxwell, Harry C. Fahnestock
and George F. Baker, who control the Cen
trail railroad. of New Jersey, and who also
hold some thirty thousand shares OF Lack
awanna stock. The combined holdings make
about lbs, 600, shares. 1t is not majority,
but, with other stock which can be relied
upon for voting purposes, IL is sufficient to
enable the Vanderbilts to dictate the future
policy of the Lackawanna. The Fanderbilts,
as a fact known, own an actual majority
of the stock of nine of the roads bearing
their name except the Michigan Central.
The I4ackawanna has been source Of
trouble to the Vanderbilt system ever
since its extension to Buffalo was
opened, by reason of cutting rates to OBJ
tain business. Three years ago 1t made a
contract with the Nickel-plate, one of the
Vanderbilt lines whereby the Nickel-plate
was to be it's connection to Chicago. Later
the Lackawanna was offered better terms
by the Grand Trunk railway, of Canada,
and diverted it's business to that road. The
Vanderbilts were angered and took revenge
by buying up the Lackawanna- The Van
derbilts now practically have at their mer-
cy the Canadian roads, which have al
ways been rate dsturbers. The only way
In which the Canadian roads can hereafter
get into the United States. except upon
terms named by the Vanderbilts, is by the
Lehigh Valley, which. however, reaches
New York over the tracks of the Jersey
Central
Maxwell Fahnestock and Baker went in
to the deal for the advantage which would
accrue to them in the coal trade. The
Jersey Central is an important coal line
and 1t is alleged to have suffered by the
depredations of the Lackawanna in the coal
business. Mr.. Works L-terest appears to
be found in a proposition to have the
Lackawanna pay stock dividend of 100
per cent He said to-day that the stock
could be doubled tc s24 100000 and still pay
its regular dividend OF per cent. The
Lackawanna has a surplus of $17,O0O,OOO
Samuel Sloan will continue as president of
the Lackawanna.
An Engineering "Reminiscences
E. A. Hermann, formerly assistant en-
gineer of the Big Four. now a civil engineer
in st. Louis, last week read very inter-
esting paper before the Engineers Club Of
that city on bracing tunnels where mater
ial Is soft In speaking of the abandoned
tunnel on the Big Four near Lawrence
burg, Ind, he said: "a tunnel LABS feet
long was built at North Bend, O., near Gin
cinnati about 1910, for the Cincinnati e.
Whitewater canal The material encoun-
tered was a mixture of river sediments
containing considerable water, and causing
some difficulties in construction. About 1863
the canal was abandoned and the right-of-
way purchased by the Cincinnati & Indian
apolis railway; now a o part of the Big Four
flood in the Ohio river nearly filled this
tunnel with water and after it receded a
short piece of the tunnel, about eighty feet
long, showed reformation of it's section,
the side walls being slightly pressed in and
the arch hattened, and this reformation
threatened to increase. The difficulty was
promptly remedied by system of bracing
shown on drawings exhibited by the au-
thor. No further movement of the walls of
the tunnel took place after they were
braced for tie following three years, when
the extension of the double track over this
part of the railroad necessitated either an
enlargement of the tunnel or a realignment
of the railroad around 1t. The latter plan
was adopted as the cheapest and the most
satisfactory of the two, and after it's COM
pletion the track through the tunnel was
abandoned