Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1899-07-28
WONDERFUL HISTORY OF SANTAFE ROAD
The Stock Values Have Increased Sll5, 000, 900 in Three Years.
The Most Successful Reorganization Scheme in Railroad
aistory--Entire Road Rebuilt and in Splendid
Physical and Financial Condition.

security value.
Common stock ...... ......$ 6,757, 500. Oh
Preferred stock ...... ...... 81, 400, 1872. 81
Adjustment bonds ..... .... 20, 277, 500. OF
General mort. 49,. ....... 80, 500, 062. 81
Total $114, 997 ,495. OF
The foregoing table is the record OF
the Atchison, Topeka & Santa Fe Rail
way company in the three short years
from July /, 1896, to July /, 1899. In al
the history of the r%ailroading there is
probably, no story approaching this
marvellous evidence of prosperity.
Many an enterprise has proved sue
cessful. Many a reorganization plan
has realized the hopes Of its promoters.
Many a security has leaped from a lin
gering dalliance with the foot of the
column to a brief and feverish demand,
But never before in the history of in
dustrial operations has a group Of men
taken so gigantic a property, so hope
lessly involved, and in so brief a time
achieved so stupendous a progress.
GROWTH OF THE SYSTEM.
The story of the old Atchison road
reads like a romance. 1t was begun
more than forty years ago, in what was
then the most doubtful and uncertain
of territories. It's original promoters
hoped for no more than a line from
Atchison, on the Missouri river, to
Topeka, a city that might or might not
be in future the capital of a 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 it
might have a line forty miles long. 1t
extends today over 7,10S miles of coun-
try, dominating the productive regions
of the west, and connecting the great
points on 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 stupen-
aous mileage; of improvements in roll
ing stock and equipment; but it is the
magical story Of an unparalleled finan-
cial success.
July l, 1896, the common stock Of the
company was quoted-not selling-at
1914. July l, 1899, it was in active de-
nand at 2Oh. That was an increase of
iM.
lie Of 20h. Three years later to a day
is closing price was quoted at 61K.
That was an increase Of 41%.
July l, 1896, the general" had a value
'f-79. July l, 1899, it was worth 1927.
That was an increase of 23R.
FAITHFUL HACKERS REWARDED.
July l, 1896, the adjustment bonds
were worth about 40. Three years
alter, to the day, they were active at
'5-an increase of As.
And the total of that appreciation in
1alue was the splendid sum Of $114, 937,-
.95.
Still is is hardly fair to say that those
securities were in 1896 worth no more
han the price quoted. The figures
we're available and investors might
lave learned that, even if the Atchison
lnder the reorganization which took
fleet January l, 1896, did no better than
t had in the past, it's securities were
'ound to be worth more than the figure
It which they were quoted. By the re-
organization the company was relieved
# a load that would have crushed the
ichest enterprise in the country. 1t
vas bound to do better than it had
lone. And the men and women who
leld on, who Loyalty followed the man
cement in the reorganization, and
ave a moral as well as a financial sup
'ort to the officers, have reaped a rich
eward. And they deserve 1t.
WONDERFUL SUCCESS.
A saving of more than SIS, OOO, 900 a year |
fixed charges, which was secured by
he reorganization plan, will make a
Inference in the prospects of the whole
property. 1t Is n of the most drastic
organizations the railroad world has
yer known. But the wonderful success
hat has attended the management, the |
ppreciation of the securities, the i'm /
rovement Of the property, the increase |
f business done and in business pre-
for-all these establish the sound
yisdom of the plan and the success Of
he reorganization.
What difference said a shrewd rail- |
Dad man, whether. you pay a man who |
accomplish such results $25, 900 a
ear or $100, 900 a year? His services are
imply beyond all possibility Of COM
ensation?'
The details of this railroads wonder |
history r well worth reading. 1t
hould be remembered that at present
Atchison has almost completed its
line to the Pacific. Its western
srminus, sc far as the trains them |
are concerned, is Point Rich
lond, just north of Oakland, opposite
an Francisco, on the bay. 1t is pre-
AIRED, with it's various lines, to handle
business Of new and growing Okla
oma and Indian Territory. It's lines
IN through the heavily wooded regions
{ eastern Texas. It easily dominates
that region now arid, soon to bios
om under irrigation, in New Mexico,
rizona and southern California.
There Is untold wealth of coal and Of
on and of timber and of precious met
on its lines. It is prosperous to-day.
o man a estimate the splendor of its
lture.
IN STATE OF INSOLVENCY.
On October Is, 1889, the Atchison COM
any found itself practically in a condi-
on of insolvency. It's earnings were in
Efficient to meet It's interest, and some
,lief was Immediately necessary. At