The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-01-02
TO THE PENNSYLVANIA
President McKeen Has Sold Part
of His Il. III. & |. Stock.
McCrea, Brooks and Davidson Elected
Directors of the Road at the An
nual Meeting Yesterday.

A special dispatch to the Journal from
Terre Haute says: At the annual meeting
Of the stockholders of the Terre Haute &
Indianapolis railroad three officials of the
Pennsylvania Railroad Company were
elected directors. This means a step toward
h has long been considered the inevitable
disposal of the property to the Pennsylvania
people. The three are James McCrea, first
vice president: J. F. Brooks, second vice
president, and John +. Davidson, third vice
president of the Pennsylvania Company.
west of P~ittsburg. 1t is announced that
President McKeen. of the Terre Haute &
Indianapolis, has discussed of a part OF his
holdings to the Pennsylvania folks. The
stockholders of the Terre Haute & Longans-
sport Company elected McCrea and David
son to the board Of directors of that COM
pany for the same reason. The Terre Haute
& indianapolis is the lessor of the Logans-
port division, which no doubt will become
the property OF the T.. II. & l.. to which it
Is indebted The other four directors Of the
T. H. & 1. are W.. r. McKeen. John G..
Williams. r. u. Minshan and II. Human,
of this city. The election Of officers will
be held next Friday when, no doubt. Mr..
McKeen will be reelected president. Mr..
Williams will be reelected vice president
and general manager of the road and the
probability is that he will remain in charge
IL the property passes entirely TO the control
OF the Pennsylvania Company. There is au-
thority for the statement that there will be
no changes in the official roster in the near
future. The Vandalia is the only part of
what is known as the Pennsylvania system
west of Pittsburg which the big corpora
ton has not owned and controlled absolute
ly. There has been no particular friction,
but for years there has been a belief on all
sides that sooner or later the Vandalia
would become an integral part OF the big
company.
Grave Reasons for Distrust.
1T cannot be wondered at" said a gen.
tleman who has long been identified with
railroad interests, that investors are not
disposed to purchase railway securities as
IN years past, so much Misrepresentation
Is there as regards the condition of rail-
ways He then read a portion Of an ar
ticle In a Boston paper, in which appeared
an interview with President Reinhart, of
the Atchison, Topeka & Santa Fe. in which
he stated that everything was moving sat
isfactorily, the January interest would be
met. and a receivership for the Santa Fe
was only the talk OF railroad wreckerS;
but the receivers were appointed within
thirty-SiX hours after. Last summer, the
very day before receivers were appointed
for the Northern Pacific, there were explicit
denials that such a step was to be taken,
but il proved to have been under cOntempla-
ton for several weeks. This cold-blooded
lying" said the financier, causes timidity
on the part of home and foreign investors
In railways OF this country. In numerous
Instances the gossip among spectators
often without known origin, and some
times distinctly malicious, Is found to be
more accurate than the deliberate official
statements OF men nigh IT. authority in the
arrangements Of the great railway sys-
A.--