The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-26
HOOKING HAS ONE
THAT NOTED RAILWAY LINE FALLS
in WITH 1HE FASHION.

l
Road Appointed-Freisht Rate War il
the Rocky Mountain Region Is Starte'
by Eastern Lines-Arizons Raises Kicl
President Hits Operations.
Columbus. O., Feb. 25.-The Hockin;
railroad has gone into the hands OF +;
receiver, or the application of the Cen
trail Trust company Of New York.
The trust company filed its applica
ton IN the United States court in Cleve
land, and sets up that the railroad owe.
il 1920, 900 for interest due within TIT
next thirty days.
| y. Mansarrat, president, was appoint
ed by Judge Sage, Mr.. Monsarrat imme
| diately taking charge OF the road as re-
| ceiver. The purpose is TO reorganize thc
| company and scale the debt, which has
been oppressive.
The March interest includes money due
On $500, geo Columbus and Toledo second
mortgage bonds amounting to 81 ,00(
and the interest on IS, 900, COO consolidat-
ed mortgage bonds amounting to 100000
The annual meeting Of the company is
! set for March Is in this city and the
| transfer books for recording stock were
closed last week, thirty days prior TO the
meeting. Ever since then the stock has
been slumping, reaching the lowest fig
ures since the securities have been listed
On the exchange.
1t has always been the custom of the
company to anticipate the heavy inter-
est charges and TO plan months ahead to
meet them but this time the earnings
have been so greatly decreased owing TO
stagnant business conditions along the
entire line OF the road that a change
took place in prevailing methods. Here
tofore it was the custom to hold off on
ali payment OF bills which could be de-
fcrred This time the treasury depart
ment paid all obligations promptly in
order not TO endanger the credit of the
company and this time was taken TO
mean the interest falling due or March
would be provided for in the east or
that the company would make formal
default on the interest as a preliminary
making readjustment of the COM
pany's capital obligations and perhaps
reducing the fixed charges to some ex-
tent.
WESTERN RATE WAR
Denver, Col, Feb. "a freight rate
war affecting the Rocky Mountain re-
sion has been inaugurated The STAR
Union lines, leading from the Atlantic
ports and connecting with the Chicago,
Burlington and Quincy in the west. an
Dounced a reduction TO the basis of the
water lines leading through the Gulf
ports into western territory. The reduc-
ton represents a drop of IS cents per 100
pounds on first-class freight and lower
classifications in proportion. The Union
Pacific, Denver and Gulf Immediately
met the situation and it is announced
from Gulf headquarters that the same
differential will be observed via the
Gulf as heretofore prevailing through
the Gulf ports. The rate, first-class.
heretofore prevailing through the Gulf
ports, was 1929 per 100 pounds The re-
vised rate through the Gulf ports will
be S1S6
Chicago. Feb. 25-There Is strong
probability OF war on trans-continental
freight rates. The Union Pacific, Dem
yer and Gulf announced today that il
proposed to protect it's dfferentials via
its Gulf route at all hazards. In order
70 protect them it today made a reduc-
ton in first class rates of 43 cents per 100
pounds and a corresponding reduction in
all other classes. 1t announced that it
made the reduction because of the action
of the Star-Union line in making low
rates from the Atlantic coast 10 Rocky
Mountain territory, the traffic going west
ty the way OF the Burlington. No action
has as yet been taken by the other roads
in the TranscOntinental association, but
it is hardly likely there will be any i'm
mediate cuts on account of the action
OF the Union Pacific, Denver and Gulf.
PASSENGER MATTERS
All the roads in the Western Passen-
ger association and those in the Trans
continental Passenger association have
determined that they will pay no COM
missions 10 any agents or any other per-
son on the business to the Christian En-
deavor convention. which il TO meet in
san Francisco during the coming sum-
mer
Mr.. Rockwell, who has been in charge
Of the mileage bureau Of the Western
Passenger association, has been ap-
pointed traffic manager OF the freight and
passenger business of the Monon road,
effective March !.
Pending an appointment by Chairman
Caldwell c. H. Spears, of the Kansas
City Local Passenger association. will be
in charge of the mileage department OF
the association.
ARIZONA'S GREAT BIG KICK.
Tuscon. Ariz.. Feb 25.-The people Of
this city were surprised 10 learn that a |
bill has passed the lower house OF con- |
g-ess commanding the Arizona loan |
70 hand over 100000. princi- |
pal and interest OF the narrow-gauge !
supreme court, in a suit appealed from /
Puma county. declared absolutely void |
because they were issued in violation ot |
the organic law Of the territory. a mass |
meeting last night denounced the con- /
gressfonal acc as an attempt 10 override |
the decision Of the supreme court OF the /
United States and 20 burden the people /
Of Arizona with the payment OF the |
fraudulent bonds for which no consider !
alton has been received. Should the bin !
pass The senate the payment will be re-
sisted 10 the bitter end. Resolutions were |
TO the committee on territories
of the United States senate.
PRESIDENT HILLS WOOING.
Tacoma. Wash, Feb. 25.-It is states /
here or good authority that President
Hill Of the Great Northern is about TO
purchase half OF me stock OF the Taco
ma Land company. which owns the ]
largest part OF the unsold Tacoma town
site and 500 acres OF tide lands. which
n.n be needed ultimately for rsIlzrcsd I