The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-28
THINKS THE DEAL OFF
ERR. PEIRCE,s VIEW OF THE L., ID. &
W.-L. T.. & w. AFFAIR.
Names Charlton ON the Outlook for
Passenger Trnmc-Frcight Rates
Slashed at Chicago.

W. r. Hackerdorn, general attorney for
the Lake Erie & Western, returned yester-
day from Peoria, and when questioned as
TO the result of the meeting of the stock
holders in Peoria on Tuesday to vote on
The question of purchasing the Indianapolis,
Decatur & Western he said he simply car
ried out his instructions, which were to
postpone the meeting until March .. He
knew nothing further in the matter. and
anything he might say would be in the
nature of surmise. His private opinion
are at sea- and only time will develop
the outcome. so far as the Cincinnati
Hamilton & Dayton securing the road
should the l.. II. & w. deal fall through,
he thought 1t hardly probab,e, as the c.,
IL. & d. people had an opportunity once
to get the road on better terms than those
proposed to the Lake Erie & Western.
Y; =. u Pierce, general manager of the
last night, and said emphatlcally that he
thought the deal was off. as the owners
have for the last sixty days shown an in
difference as to the agreement being car
e 90 eni,3 3 th and IN very p1ssitiye terms
be. extended beyond March L.
An official of the Lake Erie & Western
that the meeting of Tuesday was postponed
Tor another week is evidence that the L.,
The Passenger Outlook.
James Charlton. general passenger agent of
The Chicago & Alton, spent yesterday in the
city, and will to-day go to Chicago. He is
on his semi-annual trip over the territory
from which the Chicago e Alton draws it's
business In speaking Of the manner in
which the mileage books are being sold. he
said day of settlement will come for these
aud - q H. L.
they have made mistake in allowing the
weak lines to make their mileage books good
over so many other roads, and permitting so
many of them to drop into the hands of the
ecalrers. He was confident that some of the
Dig systems would find when they called on
the short lines for settlement. that their
treasures would be short of funds. The
worst feature of this large distribution of
mileage books was that it simply FASTENED
lection, will make 2 cents mile the rate
on their respective systems, in that manner
at one blow doing away with coupon tickets,
excursion tickets at low rates, and freezing
out the scalpers. TO this very point matters
were now rapidly drifting. Mr.. Charlton
ment in passenger business with the coming
of settled spring and summer weather was
with other passenger men on his trip he had
found that with all lines, as with the Chicago
d Alton. In the last few days there had been
a marked increase in travel. He thought. the
people who travel in Missouri, Illinois, In
diana and Ohio were better supplied with
money than in either of the last two years,
aud will begin to travel again. He thought
that the little furry between the Pacific
coast lines would blow over in few days.
and that rates in the Western Passenger
Association territory would be better main
tanned the present year than for some years
past.
AtchisOn Reorganization Plan.
The joint reorganization committee of the
Atchison railroad has reached a conclu-
sion on the main points of the reorganiza-
ton plan. which provides that so assess
ments shall be levied on the common
stock and 81 on the second mortgage bonds,
for which an equivalent will be given in
preferred stock. The existing general mort
gage bonds will be exchanged for 70 per
cent. i'm new bonds and 40 per cent. In
preferred stock. For the "A" bonds pre-
ferred stock will be given at 120 per cent.
The defauted bonds of the St. Louis &
San Francisco. the Colorado Midland and
the Atlantic & Pacific will be taken up
with new bonds and preferred stock at
prices ranging from s. to 80 per cent. The
are: One hundred and two million dollars
in common stock. 100000 in preferred
stock, SOS, e00.000 in prior lien bonds, $780,
100000 in general mortgage fours and $780,
00D.o00 of adjustment per cent. bonds. The
provisions for the issue of prior lie,i bonds
has been put into the plan at the instance