The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-10
MAY GET ANOTHER ROAD
LOCAL BUSINESS MEN TAKING IN
TEREsT IN THE ROCKFORD LINE.
Monon officials Here to Attend the
saIe-GeneraI Passenger Men Re-
port Through Business Good.

Unless projected plans fail Indianapolis
will. before eighteen months. have another
railroad. A few influential business men
have taken hold OF the new road from In
dianapolis to Rockport which part of the
way. has been constructed and most Of the
distance the right of way secured. At In
dianapolis the company has secured the
right OF way TO a connection with the
Union tracks. utilizing the track leading to
the steel rail rolling mill and the bank OF
the canal to beyond the city limits. The
gentlemen interested are not disposed TO
give any definite information regarding the
matter lest 1t might renew the effort OF
some Of the roads 10 prevent the building
Of the line. as some of the early advocates
OF the construction OF the road alleged was
done, effectively preventing the getting of
the money expected on certain securities.
The building of the road has never been
abandoned and its friends say That never
before has the prospect been so encourage
ing. The line would be valuable acquisl-
ton 10 the railroad interests OF lHdididp
oils and a great help to the merchants and
manufacturers OF the city.
Annual Meetings of Important Roads.
The annual meeting of the stockholders
Of the Missouri Pacific Railroad was held
in St. Louis yesterday. The report for the
year ending Dec. 81. 1896. was submitted.
1t shows a deficit of 81 PSI, 76l.6O. The total
income of the railroad for the specified
time was s6.053 1872. while the charges
against this sum amounted TO 1914, AZ.
The gross earnings were S22,O ,s6O.i9. while
the operating expenses were SIG. 4s1, 324. rs.
AS compared with the previous year, the
accounts showed a net decrease of SOIL
514.05. The report says the net earnings
would have shown an increase but for the
substitution Of steel bridges for those OF
other materials. a work which has been eX-
tensively carried on during the last year.
Passenger traffic statistics show decrease
OF 1926 In passengers and $2li. W. - In pas
senger earnings. Freight statistics show
an increase in tons carried of 254SS2, but
the earnings show a decrease of ASl.SoI.
This condition. IL Is stated, * due TO the
fact that while low freights-such as bulk
grain-increaSed, merchandise and other
high class freight decreased 10 a large ex-
board of directors were reelected, and ar
rangements were made to extend the st.
Louis q Iron Mountain Railroad first and
second mortgage bonds. due May i. 1897, for
period or nifty years. Interest on the
first mortgage bonds will be at the rate OF
AZ per cent, and that on the second mort
gage per cent. per annum.
The annual meeting of the stockholders
or the Pennsylvania Railroad Company
was held in Philadelphia yesterday. The
principal business of the meeting was the
discussion and adoption of the fftieth an
nual report and the appointment of a COM
NIT re of seven shareholders to nominate
"a board of directors for the ensuing year,
TO be voted upon March 23 In view Of the
death of the late president George B. Rob
erts. and the many changes which have
been made in the management of the road
in consequence. the meeting was looked
forward to with interest by the stock
holders and the attendance was proper
tionately large. The meeting was called to
order by John Q. Sims. secretary of the
company. 1t lasted only twenty minutes
General Louis Wagner. of Philadelphia
was chosen to preside The resolutions on
the death OF George b. Roberts. adopted
by the board Of directors last month. were
unanimously read and adopted. President
Frank Thomson delivered brief address
eulOgistic of Mr.. Robertss character and
service. He said the strong trait of his
character his devotion to duty. lie
had served the Pennsy lvania Railroad
Company faithfully for more than thirty
years. and in all positions displayed ability
second to that of no man. The usual com
| mittee to elect "a board of directors was
chosen and the meeting adjourned. TIL,
present board will undoubtedly be re-
oil