El Paso daily herald. (El Paso, Tex.) 1881-1901, 1899-07-22
~<XNNNNNNN>NS

Glass of Increase in
security- value.
Common stock. ..........S 6,1oI .oOp. 0O
Preferred stock. ...... "a. 4O2. 332 5O
Adjustment bonds. ....... %, 211 10000
General mortgage As. ~. ooO,o 62 oO
The foregoing table is the record of
the Atkinson, Topeka 81 Santa Fe
Railw ay company in the three short
years from July / 1896 TO July l, 1899.
In all the history of railroading there
is, probably, no story approaching this
marvellous evidence of prosperity.
Many al enterprise has proved sue
cessful. Many reorganization plan
has realized the hopes OF its promoters.
Many security has leaPed from m
gering dalliance with the foot of the
column to q brief and feverish demand.
But never before in the history of in
dustrial operations has a group of men
taken so gigantic property. go hope
lessly invoved, and in so brief time
achieved so stupendous progress.
GROWTH OF THE SYSTEM.
The story of the old Atchison road
reads like romance. It was begun
more than forty years ago. in what was
then the most doubtful and uncertain
of territories. Its original promoters
hoped for no more than line from
Atchison, on the Missouri river, to To-
peka, city that might or might not
be in future the capital of grievously
troubled territory. 1t extends today
from Chicago to the Pacific ocean, from
Denver to the Gulf of Mexico.
Its more ardent friends then hoped
il might have line forty miles long.
It extends today over 7,1OS miles OF
country, dominating the productive
regions of the west, and connecting
the great distributing points en- lakes.
ocean and gulf. This is a wonderful
story.
RISE IN STOCK QUOTATION
The last three years is not alone a
record of improved physical condition
of new ties treated with chemicals,
which will insure their long resistance
of decay; OF new and heavy rails sub
stituted over the whole of that stu
pendous mileage: of improvements in
rolling stock and equipments; but 1t is
the magical story of an unparalleled
financial success.
July l, 1896, the common stock of
the company was quoted-not selling
at 49,. July l, 1899, it was in active
demand at 20 Is. That was an increase
of IS.
July 1, 1896, preferred stock had
value of 2Ot. Three years later to a
day its closing price was quoted at
61i. That was an increase of 41a.
July 1, 1896, the general" had a
value of 10. July l, 1899, it was worth
1924. That was an increase of 233.
FAITHFUL hackers REWARDED.
July l, 1896, the adjustment bonds
were worth about 40. Three years
later, to the day, they were active at
s5-au increase Of As.
And the total of that appreciation in
value was the splendid sum of Sll4,-
937 ,495.
Still it is hardly fair to say that
those securities were in 1896 worth no
more than the price quoted. The fig
ures were available and investors
might have learned that, even if the
Atchison under the reorganization
which took effect January l, 1896, did
no better than it had in the past, its
securities were bound to be worth
more than the figure at which
they were quoted. BY the reor-
of q load that would have crushed the
richest enterprise in the country. 1t
was bound to do batter than 1t had
done. And the men and women who
held on, who Loyalty followed the man
agement in the reorganization, and
gave a moral as we'll as q 6nancial sup
port TO the officers, have reaped rich
T6"dTQ AuO OuCy uSSOIFO H.
WONDERFUL SUCCESS.
A saving of more than SIS 900, 900 a
year in fixed charges, which was secur-
ed by the reorganization plan, will
make difference in the prospects of
the whole property. 1t is one of the
most drastic reorganizations the rail-
road world has ever known. But the
wonderful success that has attended
the management, the appreciation of
the secur ties, the improvement of the
prep rty, the increase of business done
and in business prepared fOr--all these
.stablish the sound wisdom of the plan
and the success of the reorganization.
"What difference" said shrewd
railroad man, whether you pay man
who can accomplish such results S25 600
q year or 500, 600 year. His services
are simply beyond all possib ility of
compensation.
The details of this railroads wonder
full history are we'll worth reading. 1t