The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-09
HICKS CAR COMPANY
TWO RECEIVERS APPOINTED FOR
THE CONCERN ny JUDGE JENKINS.
Gross MismanaEement OF Affairs
wards-Other Railway News.

Henry A.. v. Post and Thomas Carmichael,
of New York, were appointed receivers of
the Hicks Stock-car Company by Judge
Jenkins at Chicago yesterday. The re-
ceivership. however. is only to apply to
the rolling stock of the company on which
the complainants-the Railroad Equipment
Company. and the Terre Haute Car and
Manufacturing C~ompany-hold leases. On
the general receivership of the company
Judge enkin deferred to the application
for a receivership pending in West Virginia
by Royal J. Whitney, a stakeholder, who
was also the first complainant in the court
in Chicago, but could not sustain the bill
on account of lack Of Jurisdiction. When
the receiver is appointed in West Virginia,
Judge Jenkins permits the same appoint
ment in Chicago. Mr.. Whitney, the COM
planning stockholder, charges gross mis-
management of the affairs of the company
by its president, E.. Junius Edwards. ending
in the wrecking of the company. The COM
pany was capitalized at 5000, coo. all with
the exception of $4,000, according to Mr..
Whitney, being water. The company has
about three thousand cars rented out to
various railroads subject to the lease mort
cages of about $1,000. 900 and six hundred
owned outright, which have, with the pat
ents, been transferred to John Edwards,
father OF the president Of the company, for
an Indebtedness which Mr.. Whitney alleges
had no existence in fact. The patents and
cars In the possession Of John Edwards are
valued at $5OO,OO0. The receiver to be APP
pointed in West Virginia Will have charge
Of the Inquiry into the financial operations
or the company and the TRANSACTION between
the two Edwards.
Two Cents a Mile.
The way matters are now drifting, within
a short time rs per cent. of the passenger
business will be carried at a 2 cents per
mile rate. The more conservative passenger
men have become alarmed over the large
sale OF mileage books. and some of the gen.
eral passenger agents are trying to rival
each other in the number of books sold.
A little road in Ohio sold, within the last
ten months. f~ifty-one thousand mileage
books. its book being good over thirty or
more roads. The representatives Of this
road instruct their agents to sell to scalp
ers or any person Who will buy, and at the
large railway centers the company has rep-
Tesentatives selling these books to persons
who wish to travel over any of these lines.
In this manner a poor road gets the use of
the money for a year. which, for a road
mat Is pressed for cash, as are some of the
ness. is quite an item. What is still more
singular, the general passenger agent Of a
road in the hands Of a receiver is carrying
of1ces are becoming well provided with this
class of mileage book, which covers so
many roads. Indianapolis ~scalpers have
them in abundance; at Cincinnati one scalp
er has over five hundred mileage books and
can furnish transportation over the strong
who has been looking into this matter.
states that when a general passenger agent
w wsnss b to w sMsll ta his ear earnings in any one
books and sell them in a bunch to a scalper.
II IS stated that a person who will make a
any line running between Cincinnati / nenas o nnd
Chicago, or Columbus and st. Louis: in
fact, to any point in Ohio. Indiana or I'LL
Another growing evil is the raising of the
dates on tickets which are stamped good
ticket. The scalpers have a method of
erasing the date IN the center of the stamp
mark on the back. doing it so ingeniorsly
ductors seldom discover tina the ticket has
been tempered with. The general passenger
agent Of one of the Chicago roads, through
a detective, a few days ago, found that one
scalper. had. In that manner, extended the
time of over one hundred tickets so that
ticket. In speaking of this matter. yester-
day, a passenger man said: cit would be as
y wsil for for the hso roads Ito to make a z cents a mile
as from this source the scalpers now derive
most of their business" He added that, in
business. he never knew the business so
far from the control of the roads. This is a
result OF the large sale Of mileage books
the last year.
Western skies Clearing.
Matters in the Western trunk-line com
mittee were looking brighter yesterday.
Word was received from the Rio Grarde
Western indicating that it had no inten-
ton of retarding the progress of the COM
mittee. At the same time it declared that
it had matters at issue with the Union Pa
cific and 1t could not consent that all points
of difference with that road should be adj
justed and the Rio Grande Western be