The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-25
CURRENT COMMENT.

The city OF Petersburg has Just sofa n
thousand shares OF Norfolk and West
ern common stock at little more than
$3.50 a share In august, 1896,
this stock was selling at s. a
share and few months earlier
IL sold as low as 81 a share. In August,
1896. the preferred stock OF the Norfolk
and Western road sold for Sl1 a share. IL
IS selling now around $40. There are those
who will say that this Is all due 10
speculation Nonsense. in 1896 times were
so hard that the Norfolk and Western
road was barely able TO earn its operat-
ing expenses and pay the Interest on its
bonded debt Now the road is able 10 pay
per cent. interest on its preferred stock
and Is earning 80 much In addition 10
these fixed charges that there is strong
probability that IL will soon be able 10
pay a dividend on fits common stock.
Hence the rise IN price Of these securi-
ties 10 is all due TO the prosperity that
has come 20 this country under the gold
standard.
A correspondent writing from Columbia,
S. c., says:
"The idea of getting the better Of cor
poratons is showing decided development
I'm this section just now. The Seaboard
AIRLINE paid pretty good prices on what
property was acquired I'm Columbia. The
prices were paid and the road went its
way rejoicing.
1.-THE Soab0ard. however has 10 get out
OF Columbia as we'll as into g. and it
finds that 20 is asked at the rate of $500
an acre for the rights Of way it wishes 20
acquire I'm the farms mp 10 a mile or two
outside Of the city limits. Paying s..
an acre for the land used as right of way
is paying for it az the rate OF 5000 an
acre for the land actually used boy the
road"
A great deal IS said about the greed
Of corporations but our observation IS
that individuals are greedier In dealing
with corporations than corporations are
I'm dealing with individuals. This is not
because corporations are more generous,
bv preference. than individuals. but be-
cause the shrewd men who conduct cor
p0rate enterprises know that Sc pays
corporation 20 be liberal. Corporations
carry on business on a large scale. and
deal with a great many people. II is 20
their interest. therefore. 10 keep on good
terms with their patrons and this is TO be
accomplished 10y a liberal policy
Speaking of the Norfolk and Western
road recalls an interesting interview
printed in our local columns yesterday
with Mr.. r. p. Trigg. an officer Of the
Virginia Coal and Iron Company. This
company owns fourteen furnaces IN
Southwest Virginia and East Tennessee.
eight of which are now in blast and
the others are being put in operating COM
diuon. Mr. Trigg said that his company
could sell twice AS much pig iron as 10 IS
now making. The operation Of these fur
naces has put new lie into Southwest
Virginia has brought the valuable min
erG lands OF that section into demand.
has put large number of people TO
work and incidental industries are spring
ing up I'm the noiphborhood of the fur
naces. IL ls this sort OF thing that has
increased the earnings OF the Norfolk and
Western road. and. therefore. Increased
the value OF ITS securities. Prosperity has
come I'm spite Of the evil predictions OF
those who shouted calamity.