The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-02-24
An Enormous capitalization.


Indiana
An Enormous capitalization.
The application of the New York. New
Haven IL Hartford Railroad Company to
the Legislature of Connecticut to increase
its capital stock to S1OO.OOUOO0. is calling
forth good deal OF comment, as it indl-
Gates that the company Is planning to Sc
cure more of the New England roads. If
the company is permitted to increase its
capital to that amount and II .inteins Its
present rate on dividends it will be dis
tInQuished in that particular beyond any
other railway corporation In the
United States. 1t Is no longer IN
usual to hear of mortgages for so
large q sum. or even larger, bot stock
issues of that amount are some " hat rare. In
fact, there are but three systems capital
lied In so large sum. The pennsylvania
road Is a conspicuous exception. 1t being
capitalized for COO At present, on
which 1t pays6 per cent. dividends; the
other companies are the AtchIson. topeka
~ Santa Re, with capital stock OF Sl02,-
COO.O00. and the Southern Pacific. with
S1l9,O0O,00O. Neither the AtohlsOn nor the
Southern Pacific pays dividends on stock,
however. and neither can be put in the
same category with the Pennsy lvania or
the New York, New Haven Il Hartford
The n. " 6 y. Il. in Control of the Reading.
special meeting of the directors of the
New York 81 New England road was held
in New York yesterday and tie resignation
of Charles Parsons. jr., Clarence 8. Day,
William Lummis and A. X. Flower were
handed in to take effect March II. On the
authority of Mr.. Flower it may be
positively stated that the Reading has
control of the company. Immediately
after the announcement OF Mr.. ParsoDss
RESIGNATION q meeting of the Reading re-
ceIvers was hastily called at Philadelphia.
The Readings pay-cars were started out
soon before noon and funds are being dis
bursed all along the line. There were no
new developments yesterday in tie affairs
of the company. MIR. Mcleod said 1t would
sbe several days before any plan could be
devised.
Personal, Local and General Notes.
After May 1. on a number of Eastern roads.
passes will not be hOnOred on fast mail or limit
ed express trains.
Foster Groves has been appointed ticket and
freight agent Of the Vandalia at Hubbard. on the
T. H. & l.. division.
o. Bell, superintendent of the eastern division
Of the Lake Erie X Western, with headquarters
ut Lima. o.. is in the city on official business.
B Cooke, formerly auditor of the Cincin-
natl, Wabash & Michigan. has been appointed
general agent OF the Big Four at Columbus, o.
1t is stated officially that the traffic over the
Kentucky and Indiana bridge, crossing the Ohio.
has increased 800 per cent In the last two years.
agents OF the Pennsylvania lines at the up town
office. died yesterday. She had been Ill for some
months.
The Cincinnati Hamilton & DAYTON has COM
pleted its new bridge over Whitewater river.
near Connersville, and commenced running over
II yesterday.
Philip Hesse. who for eight years has been
Bloomington, ILL.,, resigned yesterday, TO take
effect Tuesday.
tits stated that j. t OdeIl, general manager of
ha Rol a. Ia IN raffpa md tho
impression Is that he intends TO return to the
Northern Pacific.
John Wells, connected with car works at Chi
iniendent of the st. Louis division of the Big
Four, for day or two.
Under the order of things the Big Four
G. w. Kttredge. chief engineer, is TO have full
charge OF the maintenance of way department
as well as new construction work.
Ii Is stated, semi-0lfcially, that L. VI. Noel,
chief train dispatcher of tie Big Fours st. Louis
division, Will. on the retirement of y. G.. W els
become superintendent OF that division.
The stone traffic from the quarries at Bedford
Ind. with the Monon, Is unusually heavy for a
winter month. More trains are running on this
class of traffic than in any former February
John Lewis. detective of the Belt road and
Union Railway Company. who has been confined
30 much improved that he yesterday sat up for o
snort time.
The committee OF trainmen the Erie lines
west or Salamanca have gathered again at the
W
paratory 10 renewing their demands for an in
crease in pay.
The grievance committees of the Jay Gould
Southwestern lines, who have been in session at
st. Louis for ten days, have returned to their
spective homes without, seemingly. having taken
any definite action.
The returns OF net railway earnings for De-
cenber are coming IN more fay0raby than was
expected. The total for p companies is $780,
Is4,5O4. an increase over December, 1892 of
S54,652, or one-.ourth OF per ceut
J. a. Simmons contracting agent OF the Big
-Four at this point, has been appointed rate clerk,
the position 10 he re established in the Big Four
Office, corner of Washington and Meridian streets.
III. :. Fraser Is hereafter TO be the contracting
freight agent at this point.
w. ID. Sherwood. SUPERINTENDENT of transporta-
ton. and David Morris. chief train dispatcher of
the Wheeling * Lake Erie, have rendered their
designations. to take effect March L. They
70 take similar positions on the Cleveland,
Loraln x Wheeling il is stated.
A ". Dickson, general superintendent of the
Missouri Pacific, who has been spending O month
on his farm near seymour. Ind, Tor the benefit
of his health which had become somewhaJ
broken, Ia Improving, and will be able TO resume
his official duties in a short time.
Oscar Murray, vice president of the Big Four,
authorizes the statement that hereafter all posi-
lions vacated will be filled by promotion of men
In the companys service If men OF ability TO NIL
such positions are In the company employ. lie
says that the appointment OF j. O. Van Wrinkle
general superintendent really not going
out of the ranks OF the Big Four. as from boy