The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-12
WILD GRAB FOR GRAIN
RATES TO NEW YORK CUT by ROADS
RUNNING EAST FROM CHICAGO.
Had Refused to Reduce the Tariff
Each Line Went to SIashing.

The lines OF the Central Traffic Associa-
tion have now done individually whatsthey
refused to do collectively-they have re-
duced the grain rates between Chicago and
New York. The grain shippers who APP
peared at the meeting in Chicago on
Wednesday declared positively that unless
they could secure a reduction they would
be compelled to cease shipping. After the
meeting adjourned each road concluded
that grain could be had for shipment, and
unless it was taken some other fellow
would be certain to grab it, and forthwith
there was a wild scramble for the grain.
Many shipmens were taken at 20 cents, 5
cents under the association tariff, and
there were reports that some lots had been
carried as cheap as Is cents, although this
could not be confirmed. Rates will be
weak from now until next Wednesday,
when the periodical meeting ito restore
rates" will be held in New York.
Future Of the r., ID. a. Il.
The future of the Peoria. Decatur &
Evansville seems as much of a problem
as is the future OF the indianapolis, De-
catur & Western; still, there is a general
belief that the p. d. & e.. will eventually
fall into the hands of the Illinois Central.
although the security holders of the Ill
nois Central are showing such opposition
~ ~ OiiPoH VII
weak roads. 1t is stated by an Eastern
financial paper that Eastern security hold
ers of the Peoria, Decatur & Evansville
are very. much exercised over the applica-
ton of the Central Trust Company for an
extension OF the recelvership SO as to
protect the rights and interests of the
second mortgage bonds. The receiver
was appointed originally on behalf of the
floating debt holders. Thesfioatlng debt re,
mains unchanged from what it was at the
$3.50, 600 of secured and unsecured claims.
The application of the Central Trust CON-
p Mhc IS s o o1 PC Of @f 9Re trustees uss, !. Of fr me as seeondi
mover in the action of the Central Trust
Company. He Is a holder of the second
mortgage bonds and the trustees have the
option to order foreclosure without waiting
action is a Special 81 to Eastern ela
people because they are all in a~ccord-the
frsts. seconds and stock.
Work ON the New c., IL. a c.
A dispatch from Rockport says: The
much talked OF project Of building The Chi
cago, Rockport & Chattanooga raNroadmow
seems to be a certainty. The cnginssging
corps began surveying from the ESestAsend
of Main street in this city Tuesday gg6ing
towards Grandview and driving stakes by
which the grade is to be madeq. The con-
tract for grading has been let to Mr.. Bull
lard, of Chicago, who was here this week,
and returned to Chicago for the purpose
OF bringing construction trains and crew
to- begin wcrk at once. The grading will be
completed to Mitchell by May 1. The pro-
posed road will pass through the following
towns between The city and French Lick
that heretofore have had no road: Grand
view. Newtonville, st. Meinard, Ferdinand,
vile. Ellsworth, and Csnterville, which
country has a great amount OF valuable tiri-
her, coal and stone. The road will cross
the air line at a point about midway be-
tween st. Anthony and Huntinsburs.
rrv.u ns. uS,-..-
The Railroad Gazette In it's last issue
copies an item from the Journal stating
that the Big Four had twenty-seven inter-
locking switches and signals between St.
Louis and Cleveland. and then
as follows: This item is a reminder that
America will not always be behind England
in signaling, and that the Eastern States
do not monopolize all the good signaling
in America. Besides the saving in time
the money saved by not stopping Is prob
with freight as we'll as passenger trains.
The avoidance of freight train stops will
be found to be or real value in the long run
in spite OF the impossibility of stating ii
in definite figures, and even emitting the
saving in fuel. And the saving of Il whole
hour and more in a passenger run Is of
value not alone in enabling the manage
mcnt 10 run competitive trains or officers
specials at lightning speed: Ii also makes
II possible often to avoid excessive speed"
Trouble Brewing Over Mileage Books
In conversation a well-informed official
OF the Pennsylvania lines said: Trouble
is brewing between our line and certain
Western lines over the recent action of the