The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-03

Net earnings. ss13.545 s2sa.sI5 Increase $50. $50
The extension of the Mobile and Ohio Railroad
system, by the construction OF the Montgomery
Division, from Coiumbus Mississippi. to Montsom.
cry. Alabama, with two Branches. Is proceeding
vigorously, and the contractor hopes to be able to
deliver the completed Road to the Company In the
early spring.
or the o.. 900. 900 LIST Mortgage Bonds disposed Of
to you, and which you state you are now about to
offer TO investors. the proceeds OF $500, 900 has been
specifically set aside and appropriated to the pur.
chase OF equipment on terms most favorable to the
Company. The proceeds OF the balance Of the issue.
%. 800. 900, has been. and is. specifically held and
applied az the work progresses. At the last dates.
about ninety.nve per cent. Of the entire grading has
been done; q large part OF the rails, ETC.. for tho en-.
tire line are on the line Of the Road; the laying Of the
track is proceeding as rapidly as surrounding con.
ditions will permit; the snperstructure OF the bridges
over the Alabama. Warrior. and Cahawba Rivers 10
under contract and In process Of delivery; the piers
and permanent structures are being rapidly com.
pletsd. and from one end Of the line to the other the
Contractor 10 working.
The entire length OF tho main limo OF the Mont
gomery Division. from Columbia, Mississippi. to Mont
gomery. Alabama. is l6s miles. with two Branches,
these latter not only enabling the Mobile and Ohio
Railroad to reach coal for Its own consumption. for
which It 10 now dependent upon other lines. hut also
enabling 1t to control coal for general use. and.
especially. to supply Montgomery and southeastern
points. At Montgomery. while committed to no one
OF the several lines terminating at that point. It will
be In q POSITION to deal with all. The business OF the
Mobile and Ohio Railroad proper, reference to which
10 contained In the annual and monthly reports, 10
showing . continued and healthy increase. and the
addition OF the Montgomery Division will not only
contribute 10 this same end. but will also put the
Mobile and Ohio Railroad in a position OF equality
with its n%elghbors and competitors, and the fact OF
fits being the shortest line from Montgomery to st.
Louis will give It a voice in the making and main.
ia ming Of rates, not only TO it's own advantage, but
70 the development OF the entire territory through
which Il runs.
Deducting the amount of Bonds applied to the pur-
chase OF equipment, and the extra cost OF the expen.
nve bridges across the Alabama and Warrior Rivers.
the Mortgage lien upon the Montgomery Division is at
the rate of not exceeding S17. 1000 per mile. and the
annual charges upon this limo will be slightly over
o.. 900 per mile. In the construction OF this Division
no Issues OF stocks or bonds other than those included
in the 81. 900. 900 now issued to you have been made
shall be pleased TO furnish you with any further
Information you may desire In connection with the
Management and the property.
Yours truly.
tsigned) J. C. CLARKE, President.
Application will be made to have these
a large portion or this isSue has been taken
fer Investment.
The undersigned oRer for aaIa . limited
amount Of the above bends at 0s he and ao-
notice.