The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-04-26
AMONG RAILROAD MEN
What Some of Them Are Saying
and What Others Are Doing.
AS TO SHORT LINE BONDS
Spectators Advised to Look Into Them
Great Northern Increases Its Capt.
tai Stock by $15,OOO,OOO-Pas
senger and Freight Traffic.

A feature of the bond market in New
York on April Is, according to the
World, was the demand for the income
bonds of the Oregon Short Line rail-
road, series A and B. 1t may we'll re-
pay the speculative investor to look in
to these bonds a little carefully, and if
he will do so he will discover a situa-
ton fairly without a parallel in the re-
cent history of the market and one
which may soon be productive of some
important speculative movements. The
Oregon Short Line railroad in it's reor-
ganization issued, in addition to it's con-
solidated mortgage SIS. now practically
first mortgage, the two income bonds
above named. The "a" issue is enti
tied by it's term to 5 per cent. dividends
each year if earned, and has paid that
amount.
The "B" issue provides that the
bonds shall receive, if earned, up to
three per cent. interest each year from
the earnings of the railroad for three
years and four per cent. thereafter. The
81 bonds, however, are secured addi-
tionally by deposit of SIG, 2S1, 400 of the
common stock of the Oregon Railroad
& Navigation company, the dividends
on which go to make up the interest on
the "B" bonds to 5 per cent. in any
year. In the present fiscal year $162. S14,
or about IA per cent, was received by
the Short Line company in the form
of an Oregon Navigation dividend and
is held for account by the "B'' bonds
This will have to be distributed in Oc-
tober next, and it is certain that the
full three per cent. from railroad in
come will also be available.
A fee of $500 in cash has been paid
the state of Minnesota by the Great
Northern road, which was the amount
due when the company made applica-
ton for permission to increase its cap
ital stock by SIS, 900. 900. The applica-
ton states the purpose of the increase
to be:
First-For the requirement of the
first mortgage bonds of the Spokane &
Northern railroad, to the amount of ST.
$4,000: debentures of the same road
amounting to s2S1,2OO, and shares in
stock now outstanding. amounting to
$2,S12,0 900.
Second-For the requirement of the
first mortgage bonds of the Nelson &
Fort Shepard Railroad company to the
amount of $1,S04. 900: shares in the stock
of the same road to the amount of ST.
100000
Third-For the requirement of the
first mortgage bonds of the Columbia
& Red Mountain Railroad company ito
the amount of $291,OOO; shares of stock
in the same company amounting to
1884, 400.
Fourth-For the requirement of the
first mortgage bonds of the Red Noun
tain railway, amounting to $217, 900, and
'shares amounting to $190,600.
F'ifth-For the requirement of the
first mortgage bonds of the Eastern
a of tn hn
of $500, 600.
S. L. Moore, general freight agent of
the Northern Pacific, returned yester-
day from Dickinson and Miles City,
where he went to attend a meeting of
StOCkmen, says the Pioneer-Press. Mr.
Moore says that the horse market in
that section is full of promise, and that
a scheme is outlined to open up a pack
ing plant for the purpose of slaughter
ing and canning horse meat Since the
drop in prices for horses many of the
ranchmen of the Western states have
turned their animals adrift on the prai-
RE to hustle for themselves, and as
result the increase has been rapid dur
ing the past six years. The only ques-
ton of the successful carrying out of
this scheme is finding market for the
product. This may be done in some for
eign land, but there will hardly be
demand in this country warranting
any heavy outlay.
The Northern Pacific, Oregon Navi-
cation trouble may break out on the
coast, says a Wall street paper. Capt.
talist Hammond has much encoura ge-
ment from San Francisco to establish
independent steamers. Perhaps the
Northern Pacific will link Interests with
this to injure the Oregon Navigation.
Mr.. Hammond may build from Goble,
where his Astoria G. Columbia River
railroad connects with the Northern
Pacific, to near Wallula, thus diverting
grain from Portland to Astoria.
Northern Pacific earnings for the sec
ond week in April were $424,325, a de-
crease of $13,503: from July l the earn
ings were s21,64s, 543, an increase of ST.
5S4,37
The Great Northern will on May Is
add a buffet smoking car to it's Pacific
flyer. This car will contain all the
modern conveniences for luxurious
traveling-barber shop, bath room, IL
brary with 200 volumes. cigar and news
stand and buffet lunches. All this
without extra charge to the holders of
first class tickets.
The Wabash announced a further cut
in second class colonists' rates out of
st. Louis to the Northwest, and the
Missouri Pacific promptly made the
same rates. The new rates reduce the |
fares from st. Louis to Helena Butte |