Western liberal. (Lordsburg, N.M.) 1887-1919, 1889-03-08

OSbWSeu buo pIOuuCct Anu buo SonhumoFs
and itS capitalization is free from water.
The scheme is e. be formally presented to
the public in few days under excellent
auspices.
HsfhH
In ys,terdays Sun it was amor need
that the eHtRblishment of = dressed meat
company, in which the Standard OIL and
Cottonseed Oil people we're interested,
would soon be made Known. This Was
IaId in speaking Of the present strong
tendency of both investors and SpeeulA-
tors to seek other fields than railroad Sc
euritieI. -,
The company iS called the American
Neat company. Over a year ago John
q. DAVIS & Co.. bankerr, perceived the
growing distrust of railroad securities
Smoug their cWstomSrI. ADD sent com
mission to Mexico and New Nexlco, cs
whose work this company is .he result.
In the prospectus the 6rm give these rea-
sons for recommending this enterprise:
|. The overbuildinR and consequent
fierce competition Of railroads has caused
general reduction Of dividends. which
in turn has led many capitalists and in
vestors to hold aloof from the usual in
Vsstments in railway securities.
2. The di.truSt Of railway stocks has
diverted the attention Of 40 many other.
from shares to bonds that the supply oi
the latter is getting low and irst class
bonds are so high in price as to yield but
small return upon cost.
g. Further railroad building will be
largely restricted tLS year, and there will
he but few issues Of desirable new bonds,
to which investors have usually looked Eor
tho most profitable returns.
The projectors and backers Of the
scheme are chiefly j. H. Flaeicr, president
J. O. Moss. vice president; Chas. E. Com,
secretary; Jennings S. Cox, treasurer; Or.
mond Hammond, Jr., general manageri
Alexander d Green and Robert G. Inger.
soil. counsel; John H. Davis & Co., bank,
ers; s, ". White, Stephen w, Dorsey,
Col. Joseph w. Dwyer, Gov. Hadley and
+. S. Converse. All Of these except
Messrs. CSon, Cox, Alexander. Green and
Davis, and With the addition OF Mr. Dor,
Sey's sister-in-law, Mrs. Peck, owned
ranches in Collar and Grant eoantieS, New
Mexico, upon the Mexican border. They
pooled their property, amounting to 81
900 acres and have purchased 1928, ,00C
acres Of table land across the Border IN
the state Of Chihuahua, Mexico. The
pooled property went ia at from Sl2 10 $40
an acre, aud the Mexican property Was OBJ
tanned. the projectors say, on too good
terms to tell about. 1t consisted entirely
Of ranches whose owners have becOmt
stockholders. ormond Hammond, Jr., en-
tered by pooling ths Western Dressed Bee
company's slaughter houses at KAnsai
CIty. 1000 acres, and twelve markets il
Baltimore. Fifty miles from Kansas Citl
10000 acres OF grazing lands have beer
purchased. 3
The idea is to ship the cattle to the graz
ing farm. fatten them there, re-ship I,
Kansas City, where they will be slaughter
ed. and from that point distribute in re
frigerator cars to eastern markets. Tn
scheme does not end there, since il con
templates the establishment Of markets il
the eastern cities and the sale of meat di
rect to the consumer. The prospsctu
sets forth the eapitalizatioa Of s25, 900,
900, divided into $50. 900 shares at 500
} share. But Mr.. Flagler modifes thi
stAtemedt as follows: The present actul
capitalization is SIS 600 900, Of which 81,
900, 900 have been aabnerbed for at rs
OF the balance of Ss,OOO.OOO. ons-hA
will sOOn be put upon the market al'
at rs.
The authority 10 Gdd $4,000, 900 NOR
10 the capital stock Was gsked Ot the leRii
Iatnre Of New MEXICO in view Of the posS
bilities Of further growth suggested by th
expressed desire Of ranchmen for man
miles around the Mexican property to com
! in. The projectors declare that not
share OF stock has gone for less than u
: that the meucan ranches have gone /
below their value, and that tha Mexica
y property and live stock have gone in at a
4 fnniahinolv Low nrieea The fornsar al