The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-23
SITUATION AS TO RATES
WILL THE NEW YEAR BRING A RE-
sTORATION TO PAYING TARIFFS.
Big Four VIII Improve It's Facilities
at Ande rsOn-Grand Rapids & In
diana's Good Showing.


diana's Good Showing.
Conservative freight officials who oppose
the carrying of business at mere cost are
anxious to know what the new year will
bring, on the part Of the strong lines, in
restoration of freight rates to tariff De-
spite the difficulty in furnishing cars, the
strong lines, which in years past have been
looked upon as rate maintainers, have been
cutting rates the deepest for the last three
months. While there have been times when
lower rates prevailed on certain commodi-
ties, there has never been time when rates
on business generally as much demon
allied at present. Under the pretext
that some competing line was cutting rates,
other lines have cut just as deeply. A
freight official said yesterday that in years
past the weak lines have always had to
stand the blame of inaugurating rate wars,
but now it is the reverse, and the strong
lines lead in the rate warfare. For weeks
past belief has existed that with the close
of the year all contracts at low rates would
expire, but recent transactions show that
such cannot be the case, as freight already
contracted for at these low rates cannot
be moved before Dec. 81, and if strong lines
like the Pennsylvania and the Big Four do
not respect tariffs, what can be expected
from the roads which never have claimed
to be sticklers for full tariff rates The
statement that rates generally are demon
allied means more than at any former time.
When through rates have been demoralized
and local rates maintained, the roads did
not feel the loss of earnings so much, but
when the rate cutting, as at present, en-
ters Central Traffic Association territory,
the situation becomes more serious. A day
or two ago a local freight official of the
Cincinnati, Hamilton & Dayton was called
up by telephone by one of the Indianapolis
shippers and asked to name rate to a GER
tain point reached by competing lines. The
rate was named and the shipper answered
back, why, that is the tariff rate" This
is but an Illustration of the looseness there
is now in rate matters. While much of the
blame of the present decentralization is
placed upon the soliciting freight agents, it
is not probable that they would name cut
rates without authority to do so from a
superior. Recently a fast freight line Off
cial, in speaking of a local soliciting agent,
said: He ought to be curbed, as he (the
soliciting freight AGENT showed no judg-
ment in naming rate" Yet, the rate
named was sanctioned by wire from the
office of the general freight agent before
IL,
he simply carried out his Instructions.
ID. g. o. Relief Association.
The board of directors of the Baltimore
& Ohio Railroad, which was elected by the
stockholders at the seventy-first annual
meeting, held last November in Baltimore,
met yesterday and organized for the ensu-
ing year by electing John X. Cowen presi-
dent. The report of the Baltimore & Ohio
Relief Association shows receipts during
the year ending June so, 1897 of 81, 1863, 993.04,
and disbursements and liabilities of $751;,
512.SS. The assets over liabilities on June
80 1897, were 23.93156. The benefits paid
on account Of accidents and natural sick
ness amounted to 1881 ,4S1.5S. The benefits
paid during the seventeen years of its ex-
istence amount to S., 467. Is. The MEM
bership averages 25, 713. The pension depart
ment of the association has 292 on the rolls
and the amount paid out during the year
was $46.346S3 the total payments to date
being 1854, 12S02. The savings feature re-
port shows deposits during the year of $240,s
1880. The amount loaned during the year
was 1882, 1915, or $2,0S0,437.S5 since May,
1880 These loans have. been expended in
building 9S5 houses, buying 800 houses, i'm
proving PIG houses already owned and re-
leasing liens on All houses. There was an
bringing the total dividends paid to deposit
ors up to 515 per cent, per cent. being
guaranteed by the association.
Railway Construction This Year.
The Railway Age makes the following
statement of new railway lines built in the
year 1897: while the year 1897 has shown
larger railway earnings and better business
conditions than it's immediate predecessors,
the marked Improvement in the financial
outlook did not begin early enough in the
year for the completion of many new rail-
way undertakings, and so it now appears
that, although much construction work is
under way, the mileage of track actually
laid is but little greater than that for the
preceding year. The lowest point in twenty
years in respect to railway building, was
reached in 1895, when only 1903 miles of
track were added, and 1897 has done little
better, the total now reported to us being
1854 miles. California stands first with 2l0
miles laid on different roads. No track was
laid in New Hampshire, Rhode Island, Con-
necticut, Maryland, Kansas, Nebraska. New
Mexico, Indian Territory, Arizona, Wyo-
ming and Nevada, and five others barely
escaped from this category by getting credit
for from half a mile to a mile and a quar-
ter EACH AT the commencement of 1898 the
United States will have 1S4,464 miles of COM
pleted railways.
Rates on Cereals Reduced.