The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1884-07-03

eel mink people are distressing themselves
unnecessarily; said az operator ~ 'lElnT !"
explain whut Mr.. could means TODD with MS
Missouri Pacific. "Nou are told every day
that d, can pul the price up, hu' lac cannot
sell his stock. This + supposed To- mean maj
Mr.. Gould will become overloaded ANA iAnllN
have to throw his holdings upon the market
at cuormnu, loss. some members of IN" hul
party have expressed anxiety upon ihis point.
Is it NOT possible that Mr. Gould docs not
propose L. sell Missouri Pacific vl pTesmi'
whit lu'trr can Dec do with his money" Mis-
sour tI,.." l- paying per cont Nhu .e
accommodating surplus very fat. ~ YOU
will look over thc various eases und
transformations which have produced On"
Southwestern system, You WIZ NM ihWi
everything h.. boon done fo help Missouri
Pacific. For instance, Kansas ~ ltNHN -
leased In Missouri lacii,. for It's earnings. II
il should "a! 20 car" = interest, Missouri
Pacific Is under no Obligation 10 iiN'n'' "a
dollar. The International ~ Great Norlh"rl
is incorporated into Kansas 8 Ir&'s. TcNl!,
Pacific Is controlled 10y lUllllr u@rrrinthi.
Wabash H. lrHS ii 10 IRON Mountain ana iron
Mountain Is controlled 10y ownership OF
almost ain the .,uci, Hy Missouri. In all this
combination, involving over 10000 miles
of road. Missouri Pacific Is not lmh.. for "a
dollar outside orits own bonded debt u IRON
Mountain earns more than IT, interest, ais
souri, Pacific gets the benefit of the surplus,
because that goes To the storkhnldcrS, anu
Missouri Pacific j. a heavy stockholdcr. VI
course Missouri Pacific can ,nnd probably mas
advanced money 10 other roads at various
times, but 1t has undoubtedly taken good
security and put itself III u position
of g, preferred creditor. y case
Of thiS kind appears IN connection
leased to Iron Mountain. Missouri
Pacific ha> advanced Wabash money.
but ID took security In the FORM
Of Wabash collateral trust bonds and
now has its money secured. The arrange
mcnt may or may not have been for the adj
vantage of the subordinate companies. ! am
not talking about them now. 1t Is evident
that Missouri Pacific derived an advantage,
and this explains why Mr.. Gould may he
willing to hold practically the whole Mis-
souri, Pacific stock. That stock controls the
entire system of roads and with such Il
mileage business enough can be dcVcl-
oped for Missouri Pacific 10 give trcmcn-
Clous earnings on the stock. II Is well that
Missouri Pacific has II large volume or as
sets. What Is to hinder Mr. Gould, when he
finds the bulk of the stock in his possession,
from making handsome extra dividend
dividing some of these assets or their pro-
cecds? Friends Of the company have long
been told that there would he something
good for the stockholders some day. what
more fitting time than when Mr.. Gould holdS
an unusually large amount Of stock. IL Is
significant. too. that the officials of the
Southwestern roads have an extraordinary
amount of faith in Missouri Pacific, The
managers and division superintendent all
see which Is the favored road, and all speak
of Missouri Pacific as wonderful property.
Is that enough? My theory Is that Mr..
Gould does not want TO sell the Missouri Pa
eific and that Is all there is to it,"