The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-07-04
FINA NCIAL AND COMMERCIAL.

an unconditional approval of the lease
could never be obtained"
New Haven, Conn. July 3.-The Reg
lster says: THE principle Of consolida-
tlon is not as. old as the hills, but it is
as OLD as the'life they nurtured. 1t is a
part and parcel of growth and ex-
panSlon, whether concerned with bust
ness or with politics.
The people of Connecticut, however,
naturally ask themselves whether the
next logical step will be the consolida-
tlodl OF the New York and New Haven
Ioad with the expanded New York
Central, or whether the consolidation
Will be With the PENNSYLVANIA railroad.
the two great systems to compete for
the western trade? This is the alter
NAIVE proposition which many have
oeclded is the first business that will
occupy President Charles P. Clark upon
MS return to his desk. 1t is useless to
speculate upon its decision, for nothing.
IS surer than that whatever is done the
moving principle of modern life will
uolIilnate. This neither Mr.. Clark nor
any other man can long resist, Forum
ately for the stockholders of his road
ana for Connecticut, he is a man of
the highest possible railroad parts
Knows the business thoroughly and is
an organizer and expansionist of first
rate aplllty. The stockholders of the
New York, New Haven and Hartford
aaiiroad can well afford to stand pat.
mere Is no need for their being
Springfield, July 3.-The Union saws,
IN the whole, perhaps it is the best
, ouusoIne OF the situation possible, for it
trunk line from the east to the west
we shall continue to have FREQUENT
anu s Iast trains to Boston and more
Lrequent trains to Chicago. We shall
nave many advantages from fast
1relgnts to the west, and as western
massachusetts, is tributary to Boston
W. snaIl reap part of the great ad-
vantage that Boston will gain.
many people would have been better
a pIess seq II the New York, New Haven
i aio Hartford road had secured the AL
o Ooiiy' OUT we may be sure of good rev.
enue from the New Haven road. almost
as good as If it had secured the Alba
~, Ihere can be no doubt that hay-
ing three such great railroad systems
as the New York Central, the New Ha-
ven and the Boston and Maine center
ing In Springfield is better for the civ
two. 70
= Pittsfeld. July s.-The Eagle saws.
Hhe question will probably arise AS to
Wnerner or not with the guaranteed in
eerest tnat must be paid the original
stoeknolders the new owners will NOT
have to adopt some means 10 incren co
revenues and so.make is necessary "a In
crease rates or something of thatsort So
an extra profit may be earned for The
new owners. Without the Central peo-
PIE can show how under present rates
they can earn more money or save 4
great deal of money on operating tha
road, there will be opposition among
the people to the proposed change Of
ownership. The matter should be lher-
ougnly looked into by the people be-
Iore consent is given to this proposed
SAFE. Certainly the road should not
ns aloWed TO get any further away
from the people than it is now.
Springfield, July 2.-The Republican
says The present capital stock Of the
road outstanding amounts to S25, 0UO. 0G0.
ana this represents more than has been
PAID IN by the stockholders; for there
nave been two stock dividends one of
10 per cent in 1883, and one Of "a
per cent in 1885. The dividends paid by
the road averaged about z per cent all
most from the beginning up into the
early SOS. Then 10 per cent was paid
for a few years, and per cent ever
since. 1t would not take a large sum
Of money to average up the aggregate
dividend payments to 10 per cent
Probably the road would come TO not
more than $25,000.0oo under the terms
of the state law, aside from ito debts,
which are small. On the basis of pres
ent average capitalized values. the
Central at or s IL per cent is in eff
feet paying over $60,0O0,00O for the
property