Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-03-27
MORE IN IT THAN
NOW SEEMS TO BE
Meaning Of the Increase IN the
Westerns Common Stock
PARK CITY LINE TOO GOOD
For Local Business Alone-WiIi Some
Day Have Eastern Trains
Running over II.

Two railroad meetings OF some inter-
est and considerable magnitude are TO
be held In this city this month, Or
next Tuesday. April 3, viii occur here
the annual stockholders' meeting Of the
Central Pacific railway company; and
on Monday, April 80, will be held a
special meeting OF the stockholders Of
the Rio Grands Western, The former
being the regular annual meeting. SO
much interest does not ordinarily at
tach to II as seems TO cling to the lat
ter. The fact that, as before said In
these columns, the stated purpose Of the
meeting is TO vote upon the proposal to
issue an additional block Of common
stock In the sum of s5,OOO,OO0, arouses
the interest Of people generally and
railroad men In particular. So many
guesses are made as to the object of
this additional stock issue that II may
be well to tell what the officers an
nounce as the reasons for this latest
move. They recite that In order 10
provide additional capital when and as
required for the best interests of the
company as set forth in the circular
to the stockholders dated March 7, 1859,
first consolidated mortgage was au-
th0.ized last year Issues OF bonds
have been made hereunder. the pro-
ceeds OF which have enabled the COM
pany to make very valuable addition
70 the property. The continuing pros
perity Of the country served by the
road, say the directors, has resulted
since that date In further large develop
menls OF It's local business, accom-
panied by the steady growth Of traffic
to and from the now rapidly develop
ing Pacific country. and has greatly in
creased the earnings Of the company, as
also the standing Of It's securities. II
is the judgment Of the directors that 1t
will be now TO great advantage 70 make
additional provision for new capital In
the form OF stock. hc-- calling for fixed
or prior charges, and II is therefore rec
commended that there be authorized an
additional issue Of the common capital
stock to the extent Of S5.00O0OO.
In View Of the fact that the Western
has kept It's earnings up to high point
and that its financial solidlty Is at
tested in the news that its stock has
been scoring some big advances In the
market OF late. this additional issue OF
five millions is fun Of meaning TO the
wise ones" in the railroad field There
are all sorts Of tales, borne hither and
thither, OF all sorts Of projects In view.
The latest one is TO the effect that the
Western is going 20 get out from un-
der the Denver and Rio Grande and
the Colorado Midland In the matter OF
Denver and other Colorado connections.
The man who seems to know points 10
the Park City branch OF the Western
and IL bold enough TO say that the
Western is not putting all those I'M
provements In on that little feeder JUST
for the sake OF Park City business.
zone day there will be trains from
Denver running over that bit OF line
was confidently predicted today. The
Rio GTande Western Is now under the
lash OF the Denver and Rio Grande and
the Colorado Midland In the matter Of
O Denver connection, and II these two
systems chose 10 do so they could make
il mighty uncomfortable for the Utah
line. Going out OF this city by way OF
the Park City branch you VIII some day
see In operation a short line TO Denver
that win cut down the haul between
these two cities by about two hundred
and twenty miles. These big improve
ments In the Park City line and this
new issue OF stock will certainly result
in some extensive and interesting de-
yelopments In railroad affairs In Utah"