A MONSTER RAILWAY SCHEME.

Dunstan Times, Issue 1116, 21 September 1883, Page 3

A MONSTER RAILWAY SCHEME.

A oo'nssal railway soli- me is tints described in a telegram from Tmlianapi Us, date I J p e 2(1. It, an.l published in tlm Sun Frutniseo pap»rs nf the tnllosvii.pi 'lay : “ A secret inc ins. was held ut Plymouth Hall last '■Ufl't in tliu interest of a new railroad sellout" of urtat. proportions thu sn stance of which is as follows : —Two double-truck nairow gauge roads are to lie built, tiavers ing Ut" country in optiosite directions from New York to Sin Fianciseo, ami from Chicago to New Orleans, or as the circular states, ‘ from ocean to ocean and front lake to git f.’ Light series of s' oek of 23,000,000 del. each are to i e isaneil, mid the lain.led d. bt on the don die* t aide road, property equipped, is to be but 20,0>t0 loh to the nine, and on the single t aok I2,(joddi>l; huiiana vvill be allowed hot. 100 stockholders, and the oiganisers of the scheme say that 75 of these stockho dors can be reside.its of Indianapolis. The new company is to he known as the People's Railroad Company of Ametioa. Every employe of the Company is to bo a stockholder, and rbe profits are to be divided upon this basis. It w»s slated last night that Calif u-nia capi talists were willing to advance money to got the colossal scheme in active operation. The stock millers of the People's Railway of Am rica met in Plymouth Church this morning to perfect the orgmisation begun last night. The committee on articles of associ uii .n submitted the report, and the articles wo e adopted. They provide for over 11,000 miles of narrow gauge road, with a capital stock of 360,G00,000d01. The entire scheme is somewhat in the nature of a mutual benefit association. A national syndicate, with its head quartersin his city, is provided for, composed of 250 stockholders, the members of wh-ch are to be elected from organised bards of stockholders along the lines of the road; Up to this time there are 83 subscribers to the stock, representing U2,(l00dol. So soon as I,ooo,bOOiiol. is subscribed by the people it. is alleged that California capitalists stand ready to stir-scribe t: e balance, or such pi oportion as m y he required to build the road.”