The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-10-04

with the terms Of the grant, bat the a.
tempt was not auccessiul.
OfadlnR ON the Louisville, New Orleans
A. Texas railroad Is now completed nom
Memphis 10 OlGrksdale, and The. bridging u
finished from Memphis 10 point ~ mles
south OF that city. The company WIZ Jake
charge Of the trGcklaying from the MEM,
mis- end on the 1st OF October. The rosa
is completed five miles south OF Port uio'
son. and the work is being pushed Vllgor-
ously. Many OF the old employees OF the
Vicksburg 10 Meridian railroad are quitting
IN "a 10 work elsewhere. Eighteen new 10
comotiyes for the Wilson road are under
contract with the Rogers works. ut PatteI,
son, New Jersey. Three areto be Delivered
each month. a. G,
Lonis Narrow Gauge (Cotlon-Belt Route,
ia looking round for new general mana-
Ger Mr.. George w. Restine having ten
dered his resignation of that office, 10 take
effect October |, business reasons" are
assigned as the cause of this separation anu
these are generally interpreted 10 mean
that there has been some misunderstanuins
hetween Mr.. Rostine and his president.
Mr., Rostine will leave st. Louis TINS
week for Ohio, where he will spend some
time with his family. Where ne VIII go a.
| ter that is undecided as yet. he leaves
St I,ouis lust as he was rapidly becoming
one of its most highly appreciated clt'zens,
and his resignation, when mace puoiic this
morning, will be everywhere regretted
Mr.. Ristine came to 81. LOUIS III Iahuny
last, and has aided nobly in the completion
of the Texas & st. Louis system. lie mas
previously been with the Denver q RIO
| Grande as general manager, ana Deloro
| that had for some sixteen years been WIN
the Empire Line, leaving the general man
agership OF that attachment 10 the fehh-
sylyania to 90 to the Rio Grande. ne was
O splendid railroad man. ana pecullsrly
versed ip all matters pertaining TO marrow.
rauge roads. His employees all adoreu
him, and will miss him to no small extent.
| The hest wishes of the railroad community
90 with him wherever be may De.
Prominent financial journals and think
ing railway men have lately raised protests
against the shortsighted and rulnous prac-
tice, now so frequently followed, OF eAoes,
siye capitalization of railways. The usual
nlan is to issue an enormous quantity OF
stock and sell it out cheap. Ii properly
can earn a fair dividend upon $l5,OuO OF
stock per mile. which oughtto sell Tor par,
they will issue $4,000 per mile and sell IL
for 80 or IS per cent. per mile SO as 10 tempt
buyers.
and old roads alike, all they seem to care
for being to amass fortunes for themselves y
the simple method of using the printing
press. It is only new way of wrecking
railroad In former times the wreckers
sold ont the stock, allowed the road to run
down. and when it was out OF creolt anu
earnins little, they bought up the bonds
and purchased the property on foreclosure
sale. Now they avoid this odium, anG SIM
Div work off an enormous quantity OF new
stock, which they sell out to the best posi-
| BILE advantage. n.,
We believe that in some cases STOCK dlvl.
dends represent only the increased value Vi
the nIant and in some cases are of course
right and proper. But this other way Is
pure and simple knavery, and deserves the
seyerest condemnation, for it brings good
stocks into suspicion and excites the lndig'
nation of investors toward all railways.