The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-26

0oo. were incorporated at Columbus. o.,
yesterday by G. w. French, V. \. Dehnei
G. ID. Crouch. j. p. Wilson and L. w San
derson. The offices will be In Akron.
President Ripley. Of the Santa re. who
Is en- route from California to New York.
having no private car available when he
left Los Angeles. recognized the rule against
giving out free passes on limited trains
and bought a through ticket by his own
road to Chicago, paid $3.50 for IL and in
vested SIS additional for a section in a Pull
man sleeper.
The Michigan Central proposes to equip
all It's through trains With cars which IL
is believed there can pc no possibility Of
telescoping. The one car already built Is
EQUIPPED at both ends with steel platforms,
behind which solid steel projections extend
six feet under the car. 1t is believed the
car is strong enough 10 resist any shock
from collision.
The American Railway Association, which
Is now holding its annual meeting In New
York, has elected the following officers for
the ensuing year: President, a. W. Sull-
van. OF the Illinois Central Railroad; first
dent of the Chesapeake & Ohio; second
vice president, W. J. Murphy. of the Gin
cinnati, New Orleans & Texas Pacific.
The Chicago. Burlington & Quincy di-
%rectors. at a special meeting yesterday.
voted 10 submit TO the stockholders OF the
road a proposition from the Great Northern
and the Northern Pacific railroads to take
f fSe'T Buri In tore stock E ssoo p per snare GmTF for o
not less than two-thirds OF the whole
amount, TO be paid for i'm 4 per cent. bonds
OF the TWO negotiating roads,, the ~stockholc-
ers being given the option OF taking part
cash.
Judge Gary, president of the Federal
Steel Company, says the railmakers are
freely offered SOS. and that the general sell
ing price Will soon be fixed at that figure.
In fact, several large contracts have lately
been made at above SOS. Best obtainable
hgures show that since prices were adjusted
by the rail pool last fall orders have been
placed for about 1000 900 tons. j. j. Hill l.
reported to have bought 10000 tons and
George j. Gould $1,000 tons.
The Panhandle's statement for March
and for the first quarter of the year are
very encouraging. The March statement
shows an increase of Sl27. 121, or a total
profit for the month of $l96, 991, due TO IN
crease I'm freight handled and a slight re-
duction C3 1850 in operating expenses. The
profits for the quarter were SAP. res, a gain
over the corresponding quarter OF 1910 or
S12I,622. The reduction IN operating eX-
penses for the same period was S4o,S02-
II is stated that the management OF the
Indiana, Decatur & Western have prac-
tically secured the right of way for the
extension of that road from Decatur TO
probably be begun soon. The new line Will
be about forty miles in length and Will run
on the south side of the Sangamon river.
This extension will give a direct lne from
~
connections that will be OF large I'M
portance to the L., ID. Il w.
Excursion rates at a fare and one-third
for the round trip have been granted by the
Central Passenger Association lines for the
following occasions: international General
Holiness Assembly. Chicago, May 3 to l5;
Church of God general camp meeting;
Mountsville. w. Va. June l to 10; National
Slavonic Society, Philadelphia, Pa, June j
to 8: American Foundrymen's Association.
Buffalo, n. Y, June 4 TO o; biennial meet
ing Head Camp Modern Woodmen OF Amer
lea. ST. Paul. Mimi, June 10 TO 10.
The Wall-street Journal says: w can
state on authority that the Great North
ern and Northern Pacific companies VIII
receive whatever benefit may arise from
the fact that a large part of the Burlington
stock necessary to secure control was pur'
chased at a low price. As we have already
stated, the stock was bought in trust iof
these companies. and no one will make any
intermediary profit on the purchase. There
IL reason to believe that the average price
Of the stock bought is below $50, though
nothing official can be had on this point.
II is stated positively that Joseph Ram
sey. jr., vice president and general man
ager Of the Wabash, will be the new presl-
dent of the Wheeling & Lake Erie. 1t is
also said, though with less positiVeness,
that Robert Blickensderfer, now president
of the company, will be retained as gen
eral manager. Mr.. Ramsey admits that the
Pittsburg and Toledo syndicate which re-
Gently bought control Of the Wheeling a
Lake Erie is in the Gould interest, and that
IL has UNDERWATER the sixty miles or
new road that will connect Pittsburg with
Jewett on the w. * l.. r. Mr.. Ramsey
is expected 10 be in Pittsburg this week
to give direction for beginning work on
the new road.
The charter of the Baltimore & Ohio de-
clares the shares of the company's stock
shall be deemed personal estate and exempt
from tax by the state. The Court OF APP
peals has decided that this eXempts the
properly of the company from taxation. and
that even the franchises cannot be taxed.
because they form a part of the value OF
the stock. The original capital was 5000
600. The present capitalization, lncluding
bonds and stocks. is more than sfO,OV0,OW,
but the exemption holds good. This exemp-
ton was supposed to be due TO the fact
that the road would contribute vastly 10
the prosperity of the State, and particularly
of the city OF Baltimore. The people or
that city now complain that the ROAD is
managed more In the interest OF rhnsaei-
phia than of Baltimore. as shown partic1-
iarly in coal rates. and they are trying 10
see whether there is any remedy.
More than forty-hye years ago work was
begun on the State Line Railroad. betweea
New Castle. Pa, and the Ohio line. 1t was
to be a connecting link between New castle
and the Pennsylvania * Ohio road at
Homewood. The building of the New
Castle e. Beaver Valley road, now a part
OF the Pennsylvania system. killed the
Lroject, and Lawrence county was swamped
with debt. Now a party or surveyors are
going over the abandoned line. IL is thought
in the interest of some big company. They
| report the grades selected by the old COM
many very goOd-in fact. such as could not
be improved on. All that is necessary Is
TO complete the cuts and fills and erect
the bridges. il is believed the road VIII
be built as a connecting link between the
Buffalo, Rochester & Pittsburg as the new
| Toledo ittsburg line, which latter Is to
have a New Castle connection and may
eventually establish a through service To
| New York by way of the Buffalo, Rochester
& Pittsburg, the Beach Creek and the Phil
adelphia & Reading.