The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-17
THIS ROAD HAS TO WAIT
CANNOT BE BUILT UNTIL MKINLEY
IS ELECTED PRESIDENT.
Chicago, Indianapolis d ChatfanooGa
Stockholders Meeting Adjourns
Until After National Election.

NO more striking effect of the disastrous
results of the cheap-money agitation has
peen given than occurred at the Denison
House yesterday afternoon, when the an
nual meeting Of the stockholders of the
Chicago, Indianapolis & Chattanooga. Rail-
road Company adjourned over until Nov.
10, to await the result of the election This
company was organized in 1891, for the pur-
pose of building road from Owensboro,
Ky, to Indianapolis It is composed of
capitalists from New York, Columbus, o.,
indianapolis, Roekport, Ind, and Louisville
Up to date about $685. 600 has been spent in
constructing it. Twelve miles of the road
has been graded and bridged north from
Rockport, Ind, and the right of way has
been secured for a distance of eighty miles.
The road had progressed thus far last
April, when the first Democratic State
conventions throughout the country began
to adopt free-silyer planks, and since then
nothing has been accomplished.
f. L. Patrick. of Columbus, O., president
of the company, very frank in his
statements about the condition of affairs.
I'VE adjourned over to learn the result of
the election, said he. IF it goes our
way, that is to say, if Bryan is defeated.
the road will be built. If he should be
elected the project will be abandoned Last
rangements made for sufficient money to
build the road Our agent in Germany,
where we had arranged for our capital,
was getting along all right, and we were
In shape to sell our securities and get
money, but when the silver craze came up
German investors hesitated. Late in June
we got a letter from our agent stating
that if the Democratic convention at Chi
cago should adopt sound-money plank
as strong or nearly as strong as did the
Republican convention at st. Louis, we
could close our deal by the 1st of August
and continue the work of construction.
Had the Chicago convention adopted that
sort of a plank We would have had two
thousand men at work on the road to-day,
but the danger of Bryans election has
simply paralyzed everything in the way of
NEW alla ad has stopped al t;n,
had in progress. The Pennsylvania Com
pany last year let contracts for a large
amount of new construction to be done
this year, but they have Cancelled Them
and l noticed the other day one of their
half-completed tunnels boarded up and
abandoned until the times get Strengthened
out. Not only this, but they have laid off
every possible man and cut their expenses
is doing the same thing, and l presume
that the same condition of uncertainty
suspension in other lines of Industry. If
Mckinley, or If Palmer should be elect
ed. our enterprise will be pushed and the
road constructed through to Indianapolis
with all reasonable rapidity, but if Bryan
should be elected we shall have to throw
away the money we have already expended
and drop the enterprise"
Mr.. Patrick says no person who has not
been over the proposed line is aware of
what a valuable read it would be for In
dianapolis. 1t passes through the best coal
territory in the State, the finest stone
quarrieS and some of the best farming land
In Indiana. and would open up several
good towns to Indianapolis trade. So far
as terminals are concerned the company is
in good shape. In the leasing of the old
rolling mills the claim of this company
was fully protected, which gives it con-
nection with the Union tracks.