The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-08
BIG RAILWAY DEAL
Proposed Through Line from Gal
weston to Newport News.
The ROckefellers and Vanderbilts to
Purchase the Louisville, Evans
vile & st. Louis.

Information regarding a big railroad deal
said to be foot came out at Louisville
yesterday by the authoritative statement
that an agent is now In that city to arrange
for the carrying out of the plans. Those
interested are the Rockefellers and the
Vanderbilts, The roads concerned are the
Chesapeake & Ohio, the Louisville South
ern. the Louisville, Evansville & st. Louis
and the Missouri, Kansas & Texas. The
plan is to secure a continuous traffic
rangement between Newport News and Cal
weston. This means a shortening Of time
between the two points of ten hours, and
will mean much 10 shippers. The Air Line
is worth in the neighborhood of 100000.
The bonded debt is $4,000 per mile, the
floating debt is 81, 100000 and the stock is
s2.Oo),OOO. 1t is to be bought outright if pos
sible If basis Of transfer can be reached
terminal arrangements will be made
soon as possible. An agent Of the interest
ed capitalists is said to be in Louisville
waiting for representative Of the opposite
side, who is expected to arrive to-day. when
conference will be held and a decision may
be expected at any time The Louisville
Southern Is willing to go into the scheme,
and plan IS said to have been considered
by the stockholders. 1t is believed, in view
that 1t can be secured very cheap.
Effort to Check Decentralization.
meeting OF the general managers Of the
strong roads in the Trunk-line and Central
Traffic associations has been called for
tomorrow to take some radical action to
end the Generalization in through passen-
ger rates between Eastern and Western
points. and. in fact, In all territory covered
by the two associations Negotiations have
been in progress in that direction for
months, and a resolution has been adopted
at every meeting in favor of a restoration
and maintenance of rates, but they have
neither been restored nor maintained, and
IL is stated that passengers are now being
carried by some of the lines at $50 be-
tween Chicago and New York, while be-
tween st. Louis and the seaboard rates
are more or less demoralZed. 1t is done
by favored ticket brokers and emigrant
agents paying for one ticket and getting
two, the second ticket being the commission
for the sale OF the first. ThlS Is the method
by which some of the weak lines. IL is al
legged, get their through business. The
strong lines will it is said, stand this meth
cd Of doing business no longer, and an 50
rate from Chicago TO New York by these
lines need not be a surprise. If that does
not bring about the desired result a 50 rate
IL threatened.
At the regular meeting at Chicago yester-
day of the passenger department of the
Central Traffic Associax ion no action was
taken on the existing Generalization in pas
senger rates The matter was referred to
the general managers for action at their
meeting. TO be held Friday with the fur
Their understanding that II satisfactory
agreement is not reached then an open rate
of 50 to New York shall DE made py the
standard roads.
Advertising Industries Its Lines.
The Baltimore & Ohio Southwestern is
cues monthly a paper devoted largely to
advertising the Industries on its lines. In
its March number it treats prominently the
industries located on the Ohio & Mssis-
sippi among others the Bedford stone quar-
~ industry The b. & o. S. W. has just
got a line in to these quarries. The Field,
the name of the paper alluded TO, says:
Bedford has the largest and best quar-
rfes Of this variety of stone in the state
of Indiana. Some fifteen or sixteen diner
emit corpOrations have headquarters here,
and operate quarrieS employing from thirty
five to $50 men each, about thousand men
In all being at work. Combined, the quar-
ries ship fifteen thousand ears of stone a
year and have q capital OF million ana
quarter dollars. Their shipments nave
Included material for some of the finest
bridges, public buildings and residences IN
the country Locally the merits OF THIS
stone have been known for nearly hair
century Not until recent years, however,
was the stone known generally ana snip
ments made TO outside points Wltnln the
last five years the Quarries have more .tnan
doubled their capacity. and the industry
IS really now in its infancy. Win the IN,
creased use of stone as q buiIding mate Id1
ITS markets are being constantly extended
and the demand is greater from an sec
tions. The supply about Bedford is mex
haustible. and the stone can be quarrled at
a minimum of expense, as In many places
A. lies on the surface or is covered only by
a slight covering of earth
The Transcontinental War.
Negotiations were begun yesterday oe-
tween the Southern Pacific and the Santa
Fe for a settlement of the matters In dis
,,,+a between them. President Huntington,