The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-27
Personal, Local and General Notes.

Personal, Local and General Notes.
The Erie road has o million to pay in in.
terest next month.
The announcement is made that the
whole amount necessary to guarantee the
success Of the financial readj ustment plan
of the Reading railroad has been sub
scribed.
The putting on of two additional trains
to Chicago by the Big Four will probably
compel the rivals of that line to increase
their facilities. The policy of the Penn
sylvania and the Monon has not yet been
announced. but both lines Will doubtless
be heard from in few days.
As an evidence that travel toward Chi
cago has set In in earnest, the Pittsburg
Post mentions that the Columbian express,
on the Pennsylvania. brought into that
CITY, on Tuesday night. over $50 passen gers,
1t estimates the earnings of the train at
5000.
A. X. Chisholm & Co., New York bankers.
say: The Rockefeller interest having con-
sented to provide the funds for the North.
ern Pacific. the resignation of Mr.. Willard
back to sixty. The bears will. as usual.
after their success. contest the rise inoh by
inch. and the market will, therefore. be O
capital trading one, By buying on reaction
and selling on bulges."
Few people stop to consider the cost to q
railroad company Of putting on fully.
equipped, frst-ciass through train. A train
made up OF, say, three first-class sleepers,
q dining car, combination car and an
observation car. with an engine of the best
pattern. would cost at least Sl00. 600, and it
Is not surprising that managers should be
slo W to enter upon an undertaking In the
way of additional trains W hich must neces.
sarlly be largely experimental.
People claiming to be well posted on the
affairs of the New York 81 New England
predict that the time Is near at hand wi en-
Mr.. Mcleod will retire from the MANAGE
ment of that property as we'll as from the
Boston IL Maine. The outlook for the oom-
pany is rather gloomy. despite all its nat
ural advantages. 1t has had hard and
losing fight with the New Haven road.
and the division of traffic to the latter still
goes on at o rate which seems TO make il
certain that the earnings of the road must
fall to a point that will prove disastrous.
President Mcleod gives as his reason for
resignlng from the Boston ~ Maine that he
accepted the office last winter In order 70
represent the Reading in that territory.
As be Is no longer connected with the
Reading, and as the latter has parted with
its stock In the Boston Il Maine, it will be
mpossi BILE for HIM to carry ont the traffic
arrangements he had contemplated, and he
will therefore be useless to the Boston IL
Name. 1t is now said the contamination
of the lease of the Concord IL Montreal
to the Boston g. Maine ia now liable to be
announced at any day.
The Canadian Pacific. running mostly
five years increased its gross earnings from
l1.6O6.4l2 to 81, 40g, 351. and its net from
three and o half to about eight and a half
millions. This increase has been realized
on the low rates of .S4 cent for freight and
Leo cent for passengers per mile. Last
year the Union Pacific realized 1.245 cent
on freight and 2S9S cents on passen gers
about so per cent higher rates than those
realized bv the Canadian-and suffered O
decrease of Sl16.6SS in net earnings. against
the Canadians increase of S410.6SS. Is there
greater profits in low rates, or are the Can
adams better managersY
The plan for recognizing the Richmond,
* West Point Terminal contemp plates the
possible issue of securities In excess of the
$40 600 0OO already announced In order to
purchase the Central railroad of Georgia
and the Cincinnati Southern, extending
from Cincinnati to Chattanooga. ana now
leased To the Cincinnati, New Orleans X
Pacific. The whole scheme is of gigantic
proportions. What with the consolidated
five-per-cent. bonds running one hundred
years. for Sl40 600 600, the S15 coo 600 of five.
percent. noncumulatlve preferred stock
and the Sl60.OO0OOO OF common stock lt
would appear that the earnings must be
prodigious to meet fixed charges and pay
anything in dividends.
The work of completing the new Big
Four building on the square bounded by
Delaware, Alabama. Louisiana and South
streets is being pushed as rapidly as possi-
BILE, but it Is doubtful if the office rooms
will be ready for occupancy much before
the LIST of July. The amount ofdetail work
such structure Is very great. When
the Offices are completed the entire operat-
ing department will move into them in
Gliding general master mechanic who will
be transferred from Cincinnati. The depot
facilitles IN connection with the new of
fees are the largest and most complete In
this part of the country. The tracks and
platforms will admit of tho convenient
loading and unloading OF 80 cars of freight
per day.