The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-05
MAY PREVENT A SALE
JUNIOR SECURITY HOLDERS OF THE
l., d. & w. MAKING TROUBLE.
gtockholders of the l.. Z. e w. to Vote
nm Purchase of the Road To-Day
Western Trunk-Line Agreement.

The parties who have been opposing the
sale OF the Indianapolis, Decatur G. West
ern to the Lake Erie & Western are likely
to give the latter some trouble in a legal
way which may cloud the title, at least for
the time being. 1t will be recalled that a
protest was entered by the junior security
holders of the l., d. & w. railroad. and that
a suit is now pending against vermilye &
Co, bankers, of New York, representing the
first mortgage bo~ndholders, junior security
holders claiming damages. The 5 per cent.
second mortgage bonds and the income
bonds of the Indianapolis, Decatur & West
ern were considered a very fair security
before the foreclosure proceedings were
commenced. They were quite largely held
as an investment by the trustees of Dart
mouth College and by other corporations
land, New York and Pennsylvania. The
Bates estate of Boston represented by II. B.
of the bonds. and in Bridgeport and else
where In Connecticut they are largely held.
If the junior security holders of the Indian,
in biockin the sale OF the road to the L.
u. e. w. railroad. and are successful in
their suit against vermilye & Co.. they hope
that the property will eventually fall into
the hands OF parties who Will recognize
LAKE, Lake Erie thiefe & western ane s wlii meet today da 'h IN
"NA ~ @~J
Peoria to vote on the question of purchasing
the property. but the Brice syndicate has
I'll March /, consequently there may be
some complications before the deal is COM
D pressnt s hus tew p TsrmIiye u < eo'1 k the
purchased the Indianapolis, Decatur g.
Western from the first mortgage bondhold-
ers, paying cash; they sold 1t to the Lake
Erie & Western for the same sum, but the
Lake Erie & Western does not pay a dollar
a an oasn' tbst si the : ne% Hend Ba loE rne came same
pany paid. On these bonds the Vermilye
company will realize IA cents on the dollar,
now selling at ia, and the new deal makes
them a safer and as profitable an invest
ment for the investor.
Western Trunk-Line Committee.
The mission of Chairman Caldwell to st.
Louis. where he went to induce the Missouri,
Kansas & Texas and the Missouri Pacific to
become members Of the Western Trunk-line
Committee. proved successful. The Missouri
Pacific had announced that it was willing
to become a member If the Missouri, Kansas
e. Texas would take similar action. The lat
ter road has agreed to join on certain condi-
tions. all Of which will, without doubt, be
granted by the committee lines. The chief
conditions imposed by the Missouri, Kansas
IL Texas are that a committee be organized
TO have Jurisdiction over passenger traffic
that all the other Southwestern lines be in
duced to join the committee. 1t Is believed
by. the committee lines that there will be
little trouble over bringing in the South
western lines, now that the Missouri, Kan
sas & Texas has expressed a willingness
to join.
1t is now practically certain that the
Union Pacific will become a member of the
r Mesaer Of then Northern Pa N that tn ie a %ouId
in the Puget sound business until it had
withdrawn its refusal to open up the Ore
gon Short-line for through business was
made Saturday afternoon before the Union
Pacific had announced its willingness to
The change in the attitude of the Union
Pacific produced a corresponding change in
there seems to be no longer any reason why
the Union Pacific should remain outside the
committee.
Railway officers ON Trial.
Eugene Field, Milton knight, Samuel Il.
Knight, George B. Spriggs and Abraham
Feils. railroad officials. were put on trial in
the United States District Court, at. st.
Louis, yesterday. on the charge of violating
the interstate-commerce act. Field is the
agent of the Traders Dispatch, Milton
Knight is freight traffic manager of the
Wabash and Samuel B. knight is general
freight agent OF the Wabash. Spriggs and
Fells are New York officers of the Lacka-
wanna. They were indicted in October,
1890, on the charge Of making a rebate on
IllG COMMISSION 3 jO1nt
tariff rates on iour shipped from East St.
Louis to New York In favor of the Kehlor
Brothers, Milling Company, Of St: Louis,
flour was shipped by way of the Wabash,
the Nickel-plate and the Delaware s. Lack
L~ackawanna, was the first witness. He
was examined as. to the details of the
The other witnesses placed on the stand
were Mr.. Howard, Of the Wabash; Mr..
Schuyler. a Wabash freight clerk. and Mr..
II1fc aAonfIntovrf Gov fh4 Lrz6yo~ II. 49,,
Milling Company. With the exception Of
Ellis. all those named were known as
ingthe examination that rebates were given
and that such were apportioned among the
roads sharing rim in IN TIE M. o. business Isl n es;a i was un,
freight line about $1,000 a month. To-mor-
row the government will CALI one more wit
ness. following which the defense will open
worrying the Pennsylvania.
A writ of ejectment has been issued in the
United States Circuit Court at Pittsburg
against the Pennsylvania Company and the
Pittsburg. Fort Wayne & Chicago railroad.
The writ is the first step in a suit to be
brought against the railroads which will in
volve several millions of dollars. The prop
erty In dispute Is that occupied In Plttsburg
by the Pennsylvania Company and the
Fort Wayne road for Offices and freight
yard, and upon which there has been erect
ed two large brick Office buildings and a
freight shed. The writ has been served on
the railroad officials and the suit will be
begun at the May term of the United States
Circuit Court. The property occupied by the
company Is bounded by Pennsylvania ave-
nue., Tenth street and Duquesne way, and
contains about three and one-half acres,
valued at several million dollars. The
plaintiffs in the action are s.. w. Barber.
of st. Louis; r. t. Leech and Mary Ann
Leech. his wife, of Dayton; Edward p.
Clarke. OF Jersey City; George Fl. Watson
and his wife, Annie Townsend Watson, OF
1rninr Rp1rnfU Nam Tnrrnxr ord ~ w Dn-
Der. of Red Wing, MINI.
w. N. n. & II. to BE Sold o-Day
This morning, at 10 o'clock. United States
Marshal Walker will sell at public outcry
on the steps Of the federal building, in
Pittsburg. the entire Western New York &
Pennsylvania railroad under bond fore
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