The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-06-22

Denton.
The approximate earnings Of the st. Louis,
Iron Mountain & Southern railway during
the first week in June, were as follows:
1888. 1879.
PasseDge s....,.,...,.,.,.ssS SO W sle,Soo %
Merchs ndise. .........., $4,000 90 1886 50
Iron and ore. ...,...,.,... SoVO w O,fS4 NO
Spndrlef. ..''.''''' 4'VVu w o'sVo w
Totals. ........,.....,.."s936o0 90 s65 IA IS
January to Junes:
leS. .''.-''-''' nYS -
1879. .........,.,,.....'..'' 1,iS,Uo -
Increase 659, 40 81
Or S. 40 per cent.
The capital stock Of the Atchison, Topeka
Il Santa, Fe railroad company was Sl0634,-
400 on January |. Since that date il has
been increased to $22, 800, 400 by the exchange
of Pueblo & Arkansas Valley railroad stock
for Atchison in the consolidation; the con.
version of S3,l39,000 of the 50, 100000 OF
second mortgage bonds into stock and the
consolidation with the New Mexico South
ern Pacific road, by which all the stock OF
this line is also converted into Atchison. The
net result of the roads operstions the last
yea, although not thus definitely stated in
The annual report, it is figured in Boston.
was earnings Of 16 per cent. upon the old
capital of $l2,600,0O0, and the company
paid two per cent. dividends. II the net
earnings should be the same in 1850 as in
1879, they would equal. making an allow
ance for the rental and interest reduction,
about 10 per cent upon the new capital, but
the indications, based upon the earnings OF
the first four months OF the present year, are
that the gross earnings will be $4,000, 600 or
rs per cent, and the net earnings S4,40O,VO0'
The Chicago Times, of the 10th, springs
the first information of vast southern rail-
road combination recently formed. II says;
A vast railroad combination, with the Rich
mond q Danville and the Richmond u York
River roads as the basis, has been formed in
the south, negotiations for which have been
in progress for eighteen months. a numoer
Of prominent capitalists are interested IN the
enterprise and have embarked in 1t more than
S20,0OO000. Among these are Charles
Clyde Philadelphia; John and Daniel A.
Stewart, Richmond; Messrs Walters and
Newcomer, Baltimore; II. b. Plant X. L.
Wilson & Co., New York; Charles McGhee,
Tennessee; w. 4. Clyde, New YORK; VII
liam Fl. Palmer, T. NJ. Logan, James /.
4 GRAY, A. Y. Stokes and Thomas Branch d
Co., Richmond and other well known gen.
tlemen in the south and southwestern states.
This combination will seek to control all
Through traffic to and from the seaooarl IN
Virginia, North Carolina, South Carolina,
Georgia, Tennessee, Northern Alabama ana
\ Mississippi, striking deep water on the Ches
apeake bay, at West Point and Norfolk
This great system of railroads is the counter
part of the Louisville Il Nashville system,
4 which reaches the sea coast at Charleston
and Savannah The purchase, some months
ago, of the Charlotte, Columbia " Au-
gusta railroad by the Pennsylvania
Railroad company, Richmond and Danville
company and Thomas and William r
Clyde, was the beginning of TINS movement
The second step was the formation OF syn
dictate composed of New York, Phliadelphia'
Baltimore and Richmond capitalists, con-
trolling among them the Richmond "
4 York River railroad, East Tennessee, VIZ
ginia & Georgia, Memphis " Charles'on
4 and Selma, Rome Il Dalton railroads Win
numerous branches, extensions and conhec-
81 tons. This syndicate was formed to purchase
IA all the railroad interests OF the Pennsylvania
a company south of Richmond and Danvllle
II with its leased roads ia North CaroIiaa, run
Il ming from Richmond to Dauville, an' EN-
n brscing the Piedmont road from Danyll'e 10
n Greensbough, n. c., and the North Carolina
n railroad from Goldsborough to Charlotte Is
"A trunk line, thus atfording an outlet through
n Richmond to deep water for the entire Sys'
"a TEN. This was followed by the purchase OF
" the controlling interest in the Greenvl!le "
N Columbia railroad company of South Caro-
VI lima, and by arrangements for securing the
N immediate completion of the Western North
"a Carolina railroad from Asheville, n. T., tt
a Paint Rock, Tenn, which mases another linz
81 connecting the roads west of the Blue Ridge
N mountains, with those east of the Blue Ridge
NJ and at the same time affording the shorte.
IN practical route between the Northwest snC
N the states of the Southern seaboard. TIT
N Richmond and York river rail
roai, composing section o. In, In'
n trunk line of THIS com oination
extends from Richmond, Va, to west POM
W Va, on the Chesapeak bay, distance OF 81
q miles. The East Tennessee, virginia an
f Georgia railroad extends from Bristol, Tenn;
81 to Dalton, Ga, distance OF 40 miles, VIII
N about twenty-four miles OF SIDE track. in
NJ Rogersville and Jefferson and tee Cinclhnat,
# Cumberland Gap and Charleston railroad
S{ were purchased at foreclosure sale ior w
non-payment of interests on the state NOR!
gage lien in 1871. The line of the Mempnol
IS and Charleston road extends from Memphl:
Tenn, to Stevenson, Ala, distance Of -
miles. 1t has branches to Somerville, Tenn
| and to Florence, Ala, making 1868 miles @
road The Selma, Rome and Dalton roa
W also part ofthis system extends from Selm
|. Ala, to Dalton, GA, distance o. 237 mile
The effect of this combination will be, it
claimed, to give greater economy of operatid
and increased efficiency of service than hi
heretofore been possible under the O
= condition of things where the roa'
were Independent and disconnected. Anon
the parties interested in this enterpri
are those controlling the coast.line system
railroads, including the new and short ra
way lines running from Charleston and s.
M Nansh to Florida. and also number
steamship linestrading between Philadelphia
N New York, Baltimore and Southern cos
s. ports. 1t also connects at Richmond and
Danville with the railway lines from tho