The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-03-20

Shortly after the stockhold-
ers' meeting at the Monon
Offices, ia Monument Circle,
Commissioner John w. McCar-
die of the Indiana public serv-
ice commission assured Presi-
dent H. R. Kurrie Of the Monon
and E. P. Cockrell, general
passenger agent, that the COM
mission will stand with the
MonoI against the B. g. 0.
The call to arms is sounded in a
resolution in which the stockhold-
ers declare that assumption of con-
troll by the B. & o. will not be IN
the public interest and calling upon
all stockholders and directors to
combat such absorption and giving
the directors and executive COM
mittee full authority to fight.
Lines Show Profit
At the same time, the directors
read the 1923 annual report, which
showed that the railroad was
making more money than in 1927,
and that it paid to the state of In
diana $1,065,876 in taxes in 1928, an
increase of $163, ,646 over 1927.
Directors also announced that
$75O000 would be spent in 1929 for
additions and betterments to the
line. This includes new buildings
and bridges.
The railroad in 1923 paid 7 per
cent on its common stock and 4
per cent on the preferred stock and
the outlook for 1929 is even better,
Kurrie said.
Big Loss Might Result
Kurrie declared that the B. & o.
petition is made in line with the
declared policy of eastern .lroads
to consolidate the railroads of the
country into few large systems.
"The Monon is part of the COM
oined Southern Railway Louisville
& Nashville systems, through joint
control of its stock by these COM
oanies, so in its present situation
,he Monon really is a part Of a
arge system of railroads
Absorption of the Monon by the
B. 81 o., would mean a loss on the
pay roll in Indiana of more than
100000 year. This is a natural
step. as the same occurred when the
;. /. 81 w. was acquired by the B. e.
D., the repair plants in Indiana were
closed and the heavy repair work
taken to the east.
When the Lake Erie 81 Western
vas acquired by the Nickel Plate,
he general organization was trans
erred to Cleveland. In the case
If the Chicago, Terre Haute &
southeastern, acquired by the Mill
vaukee, the locomotive repair plant
It Bedford WAS closed and the plant
vt Terre Haute greatly reduesd.
Pays Millions for Material
"At the present time, the Monon
,ays approximately 100000 a year
or materials and supplies purchased
n Indiana and used in operation Of
he railroad. In 1923 purchases we're
made in sixty different cities along
he line. 1t is our policy to buy
rom producers along the lire.
In a large system such as the
;. & o., where purchases are made
n Baltimore, it would be natural
or the purchasing agent to buy
rom producers for the entire sys-
EN-, and Indiana, being so far away
rom the point Of purchase, would
lave little chance Of enjoying the
BUSINESS it now obtains from the
donon." Kurrie said
There are but three so-called in
dependent north and south lines
perating now. They are: The
donon, G. & E., and Illinois Cen
raj.
PerilS North Side Lines
''The petition fled with the inter-
tate commerce commission seeks to
make the G. & E. I. part Of the
IAN SweTingen system of east and
rest lines, and the Monon a part Of
he B. & o., making the Illinois
central the only independent north
nd south line, and leaving the L. ds
7. and Southern railroads without a
Iirect connection that is friendly to
he encouragement of north and
outf business.
s'The Monon is indispensable II
hese great systems are to serve
heir most useful purpose In de-
eloping the north. south, and mid
lewest, and the public should par
rif,afp in ffe fipF1f .