San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1889-08-27
A NEW YORK OPINION.


The Daily Stakeholder of New York,
under date of August Sth, notes the
citation of the Arkansas Pass road to
show cause why receiver should not
be appointed and expresses great sur
prise at this act, as the road in New
York was considered i'm good con-
dition. The Stakeholder reviews the
condition of the road and gives COM
parative statement of the financial
condition of the road for the first six
months of the three years past and
concludes from these that so far from
the road having deprecated it is
stea lilly improving its financial con-
dition and that no real cause
for apprehension exists. This review
is instructive as ii precedes the hear
ing of the injunction case and gives
an outside view of the situation as 1T
appears to New York financiers. The
net surplus of the road for the first
six months of 1887 was $40, l6l; net
surplus for same period 1888 S29,OSl;
for same period 1889 the net surplus
was S36, 1SS. That is to say the net
receipts have doubled, for the first six
months of 1889 over the first six
months of 1887. 1t is also well known
here at home that the freight earn
ings for the last six months of this
year with the extensions made are
certain to be largely in excess of the
freight earnings of any other
six mont tbs since the road
was built and it's net in
crease will be proportional. The
conclusion of the Stock holder is not
without significance and it is repro
duced here that those who are in
clined to feel captious toward the
road may see that the feeling is not
warranted by the facts, and that those
who ignorantly imagine the old San
Antonio standby is in close quarters
are mistaken. After citing the mile
age, earnings. operating expenses,
net earnings, interest charges and
figuring out the net surplus as given
in figures above, the Stakeholder says:
"This showing does not indicate any
immediate need for a receiver, nor
have the recent earnings shown de-
creases, since each week reported
since July LIST has shown gains In
gross earnings, the aggregate increase
for the three weeks being S24 49l.
The road is we'll located, we'll con-
structed, and in excellent physical
condition, and, with excellent crops
in its section of country, there is no
ground for assuming that the percen-
tage of increase in earnings will not
be maintained during the remainder
of the year. The fixed interest
charges are only S720 per mile, or 8
per cent, on bonded debt of $4,000
per mile, and the amount OF capital
stock is but S2,6l7 200. Certainly
there seems no apparent reason for
the application of receiver III TINS
case.N
The conclusions of the Stakeholder
were fully borne out in the decision
of Judge King some eight days after
the above comment was made. a
careful reading of the printed excerpt
given above will be soothing medi-
cine to those who have imagined that
home road must necessarily be a
weakling. San Antonio and Arkansas
Pass is on its feet, strong. 1t is
boon to the trade of southwest Texas.
1t is credit to San Antonio and no
road in the state can show clearer
claim to public goodwill than can
this road built, Otficered and con-
Urolled in San Antonio.
THIS is the week in which the mem
bers of the G. A. r. meet in national
camp to recount the trials and tri-
umphs of the past, live again the
immortal scenes OF 1S6l-65 and treas
ure in everlasting remembrance the
heroic deeds of the comrades dead
and living who counted NOT theiI
lives dear unto them if so be they
might preserve unbr0ken and united
the national fedora ton OF states which
the institution of the fathers had or
gained after wrestling these provinces
from English domination. The prouC
reflection that the effort was success
| full, and that the years 1876 have
forever demonstrated the impossibility
of peaceful separation of these Am
erican states, will 90 into camp witt
these manned survivors OF the Crane
Army of the Republic and abide
with them everywhere, a perpetual
benediction. The LIGHT extends it:
cordial greetings to the boys in blue
as they gather around their cam
fires, in the far away city by tn
shores of the great lake, and regret