The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-13
SCALPERS ARE HAPPY
ID. & o. WILL RESUME PAYMENT OF
COMMISSIONS ON SALES.
Gossip About the L., f. e. st. l.. Re-
observation-disclosures of Various
Railway Associations.

Tic announcement in the Journal of yes
tsrdav that the Baltimore & Ohio South
western had given the required fifteen days
notice of its withdrawal from the agree
ment of the trunk-line presidents was much
of a surprise to passenger circles and
caused much rejoicing among ticket agents
and scalpers, as it means that the Baltimore
missions on the sale of tickets and is an
entering wedge to bring other roads to taxi
ing the same steps. Unquestionably, the
Baltimore & Ohio has suffered in it's BUSH
ness since 1t ceased paying commissions
and with it's disadvantages IT'S action Is
not surprise; the surprise was that it
ever went into the arrangement For weeks
past the larger per centage of travel has
drifted to the more direct and strong lines
The weaker lines not paying commissions,
neither the agents nor scalpers made any
effort to secure business for them, doubt
less believing that 1t was the quickest
method Of forcing the Baltimore & Ohio, the
Erie and the Lackawanna to the resump-
ton OF the payment of commissions, as, UNI
doubtedly, as soon as the Baltimore &
Ohio Southwestern begins paying commits
sions, some of the other roads will, and
indications are that before three months
will be at it again. But 1t Is quite likely
some steps will be taken to prevent the
as
some roads have paid before the attempt to
abolish their payment was made.
The L., e. & st. l.. Recefvership.
The present litigation over the receiver
ship of the Louisville, Evansville & St.
Louis is attracting a good deal of attention
In Eastern financial and railway circles. A
large per cent. of the securities are held in
Boston. A prominent security holder stated
to the United States Investor that mo plan
OF reorganization will probably be evolved
until the condition OF the road improves.
In the wretched shape in which the prop
erty now is there can be no basis for an
equitable plan, and as to the prospects for
the consolidated fves, every thing depends
on the future earnings of the property, and
the success OF the reorganization of the
system. It was recently stated the Fidelity
vile, KY. had advertised for the holders
of the first and second mortgage bonds of
70 resister Them a. that ONCE for the use
OF the trustees 1t may be said, however.
that a self-constituted committee, composed
of Mr.. Charles s. Fairchild, president of the
New York Security and Trust Company OF
New York, Mr.. James Stillman, president
of the National city Bank of New York:
Edward Sweet & Co., New York. are act
ing in the interests of bondholders to a
certain extent, but no regular committee has
been asked for In New York. William T.
Barrett, of New York and G. P. Heilman,
of Evansville, Ind. directors of the road,
are also acting in conjunction with these
gentlemen. but it is difficult to see what
has thus far been accomplished; member
OF this self-conStituted committee said to
me to-day: The road is in bad condition.
1t was in very bad shape when it went into
the hands of a receiver 1t was In much
worse shape than We expected to find it.
The greater portion of 1t is mud road.
We have had to pay out large amounts for
betterments. For track rentals alone the
road paid the large sum of 500, 475.66, pre-
sumably for terminal facilities in entering
Louisville. In the suit involving the
validity of the delinquent taxes in Indiana
the road was defeated, and was compelled
to pay $56.2Sl g., The entire past-due taxes
paid by the receivers since taking charge
OF the road amounts to $145, 043,s7.' A mem
Der of the committee says the road was
simply. wrecked by D. J. Mackey. There
are others in Wall street who tell me that
the reported earnings OF L.. e. & St. L.
railroad. previous to the appointment of a
receiver, were untruthful. Tnis member of
the committee whom l quote says: 1T is
more than likely in the light of subsequent
developments, that there were not proper
charges made for maintenance of way"