Morning journal and courier., 1889-09-14
THE CONSOLIDATED ROAD.

The Big Figurcs she stock has
 Reached-lmporsant Meeting to-day
 -mOndays Meeting Of she Stock.
 holders-A Notable Prosperity.
 A lively demand for stock of the Consoli- dated road, was reported yesterday at the offices of bankers and brokers in this city. Calls for large and small lots were made. The stock is also called for purchase in New York city. The stock sold yesterday at Ss4, the highest price in its history, and an advance of ove 10 per cent. .rdsring the week. Four or five years ago the stock was quoted at 160 and not few New Havsnsrs bought it at that price, most of whom have held on to it and are not sorry even at the present high figures the stock will prove an excel- lent investment, aside from the fact that the company is sure 10 per cent. dividend payer, if the expectations of the stockhold- CTS are realized.
 At the last session of the Legislature the company was authorized to increase it's capi- tai stock from $15, 500 ,000 to $50, ,000, ,00O. Only @ portion of the authorized increase of $34, ,500, 900 will be issued at present.
 The precise amount will be decided upon at meeting of the directors to-day and their recommendation will be reported to the stockholders at a meeting to be held here on MOuuhY. w ulio JUG 6xhCb cOQultlCuB OI LQ6 issuing of the new stock will not be known until after the directors meeting, one of the prominent managers of the road Is authority for the statement that the subject has been informally discussed, and that the stoekhold- CTS will have the privilege of subscribing for the new stock at par.
 The proceeds of the sale of the new stock is to be used in continuing the extensive im- provements of the road that has been in pro- froludiu0 fanr fraa1fno ne tho Nax York division, double tracking the Shore Line division, straightening curves, bridging grade crossings, etc.
 The Consolidated road has for years ranked as one of the most prosperous and conserva- lively managed railway properties in the country. For long term of years 1t has paid dividends of 10 per cent. per annum, In addition to expending large sums for bettsr- ments and equipments.
 Since 1881 the mileage of the road has in- creased from 152 to 508 miles, due to tho ab- sorption of the various roads now embraced in the system. During the same period the gross earnings have increased from $4, ,946,- 148 to So, ,786, ,555; operating expenses from $2, ,993, ,102 to 7,316, 7S2; net earnings from $1. .953, ,044 to $2, ,449, ,773 and the percentage of expenses to earnings from 605 to "A 82. Said Q New Havener of note yesterday: It Is a matter of much congratulation that Con- nscticut is not cursed with wildcat or spec- ulstive management as is the case with so many railroads of this country, especially western roads. Boston owners of Atchison and Santa Fe, for instance, who have seen fifty million depreciation of their individ- ual property in that road, would appreciate such safe and conservative management as |.that which characterizes the Consolidated road.
 The transfer books of the Consolidated road will be closed from Ssbtember 15 to October inclusive, and those of the Boston and Air Line and of the New Haven and Northamp- ton railroad from September 20 to October 1 inclusive.
 The Consolidated railroad officials laugh at the idea of making a harbor at Five Mile river for freight terminal point, as has been currently reported. Nautical men also say it would require no end of money to make the harbor there nsvigable for the big freight boats.