The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-10
THE COAL ROADS PAY
ALI WithStOOd the Late Panic Bet
ter Than Other Lines.
As Result the Big Systems All Want
to Reach the Coal Fields-Atchi-
son Receivers Angry.

The coal carriers have better withstood
the strain of the panic OF 1898 than the roads
whose traffic consists largely of general
merchandise or of lumber and building
terial and it is evident that railroads whose
traffic consists principally of the necessaries
of lift can withstand a period of depres-
sion much better than those whose traffic
Is grain, which Is necessarily dependent
on climatic conditions, or upon freight ton
mage Of a character which people will not
buy in times such as have prevailed for
several months past. The movements of
the Vanderbilts In late years give evidence
that they have become convinced that coal
traffic ia necessary to any road to- make it
prosperous year after year. Formerly the
traffic of the New York Central consisted
largely of grain and general merchandise
in transit between the seaboard and the
West. OF late years. however, the New
York Central people have been giving much
more attention to developing coal traffic
which it has largely increased by securing
control OF the Beech Creek road and two
or three other coal branches. Had it not
been for the increase in business through
these coal roads the New York Central
would never have been able to maintain
its present dividend payments. In the three
years that the Vanderbilts have controlled
the Beech Creek road its coal traffic has
Increased 90 per cent, result which was
not dreamed of when the New York Cen-
trail people took possession Of that road
In order to secure an entrance to PittSburg
In case the action of the Pennsylvania rem
dered ii essential that the lines in the Van
derbit interest get into that city. To more
derbiltS il would not be a surprises to those
who watch closely the changes in railway
interests were the New York Central 10
acquire the Buffalo. Rochester &. Pittsburc'
which is saf-sustaining now, and would be
p much beSer property If more closely iden-
recent acquisition of so large holdings of
stock of the Delaware. LackaWanna &
Western by the Vanderbilt family naturally
strengthens the above statement to the eff
feet that all the large systems are seeking
to secure control of coal roads to enable
them to tide over hard places. such as
the roads have had TO contend with the last
Pix months, and which still menace railway
interests The Pennsylvania lines have
handled nearly as much anthracite coal the
last six months as in the corresponding
period of the previous year. and the coal
traffic has enabled roads like the Chesa-
peake & Ohio. the Norfolk 6, Western the
chicago u Eastern Illinois and the Van
dalia 10 bridge over the depressed times
possible but for the heavy coal traffic these
Lines have.
Complaint of AtchisOn Receivers.
The receivers of the Atchison road yes
ferday sent to Chairman Midgley a very
tart telegram concerning the resolutions
condemning the Atchison officials passed
by the Western Freight Association after
the collapse OF the anti-pass agreement.
The telegram charged that Mr.. Midgley
had railroaded through the meeting, after
adjournment and with a doubtful quorum,
the resolutions which gave such great Of
Tense to the Atchison men Mr.. Midgley re-
piled to the receivers that he had no apol-
ogfeS To offer and no excuses to make, and,
In short, proposed to stand by his resolu-
tionS. The end of this thing Is not vet
as the passers of the resolution have openly
admitted that they are anxious TO drive
the Atchtson receivers from their places
and the AtchisOn and its friends have an
t1ea that Mr.. Midgley's position could be
better filed than at present.