Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1882-04-13
a Read Worth Fighting For.

The movement in California Southern
securities. which attracted consider
able attention last week, is not surpris-
ing. says The Boston Advertiser, to
those who understand the position the
road holds in relation to Pacific COM
merce and transcontinental railway
interests. 1t is thought that it must
become one of the most important
factors in the settlement of the differ
ences existing between the Atchison,
Topeka and Santa Fe and the Southern
Pacific systems, and the impression is
that the recent movement is due to
negotiations for its acquisition, either
begun or contemplated. The paper
continues:
1t is understood that the recent agree
ment of the Atchison relative to the
construction of the branch of the At
lantic and Pacific, between the Colorado
river and Mohave, expressly reserved
traffic rights over this new section.
when completed, for Atchison and
Southern California business. The
Atchison, by acquiring the Southern
California, would not only secure as
independent line to the Pacific as
that via the Sonora to Guaymas, but
would be enabled to compel the faith
full performance by the Southern Pacific
Of its agreements regarding the section
from the Colorado river to Mo
have, and could regulate the
Southern Pacific by the impend-
ing threat of paralleling the short
link between the Colorado river and
the California Southern, or of extend
ing the latter to drain the wheat dis
tricts now tributary to the Southern
Pacific, while the Southern Pacific, by
the acquisition of the California South
ern, could maintain an impregnable
monopoly ef the transportation of the
Pacific coast of California. 1t is under
stood that the Southern Pacific people
now stand ready to give par or full
value for all the securities of the Cali
fOrnia Southern, both bonds and stock.
Another aspect of the situation is found
in the fact that this road to San Diego
has always been looked upon as de-
sirable location for original construc-
ton under the Atlantic and Pacific
charter. and it may be that the out
come of the recent negotiations will be
that the Atlantic and Pacific will &C.
quire the California Southern, extend
ed to the Colorado river, as its main,
and perhaps for many years its only
Pacific terminus. Whichever of these
three results may follow, and which
ever of these corporations may acquire
this property by purchase or agreement,
it is contended that its 100 miles of
road, now nearly completed, forming
as it will the terminal section and
ocean approach of the system, is of
greater value than twice the mileage
of an inland section. Until some
decision shall be reached the
road is independent, as it is es-
timated that its local business will
be more than enough to meet its fixed
charges and yield profitable return on
money investment, while its extensive
land interests not only of commercial
water front, but of city and ranch
lands, will prove a large collateral
source of income. Its securities have
been marketed under two subscriptions.
The mortgage bonds are limited to the
amount of $4,000 per mile, of which
a considerable portion is received in
the treasury of the company, and the
capital stock at the same rate with a
like reserve. The owners and origin
ators of the property recognizing its
strategic position, and foreseeing pos
sible struggle to acquire it. secured its
independence from market attacks by
placing the greater amount of stock
issued under the first subscription in
the hands of three persons as trustees
for five years from February, 1881, to
hold and manage for the independent
interest of the property, rather than in
the interest of either of the rival lines
and this trust is irrevocable, except up
on the request of the owners of large
proportion of the shares and the stock
generally is strongly held.
Gapes in Chickens.