The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-12-11
They Will Be Here at Noon
Thursday.
Annual Meeting of Directors to
Be Held.
NOCAUSE TO COMPLAIN
Believed That No Changes Are
i'm Contemplation.
Ratification of Purchase of
Branch Lines to Be Made.

At noon tomorrow will be held the
annual meeting of the stockholders OF
the Santa Fe railroad
In some ways this is merely a per-
functory ceremony at which a few of
the directors and officials, holding
proxies for all or the major part OF the
S216. 600 of the stock, will meet ana
re-elect the old directors, and carry
out the items of business nominated in
the official call of the president
The perfunctory part of the meeting
exists because there is no dissatisfac-
ton among the stockholders in regard
to the administration of the affairs OF
the road. Every body who has stock IS
well pleased with the present manage
ment, and is willing that it should con-
tinue. So there is no doubt that Geo.
G. Haven, John G. Mccullough and
Benz. P. Cheney, the three directors
whose terms of ofnce expire this year,
will go in for another four year term
It is not yet known who will attend
the meeting; Probably most of the
m emberS of the executive committee
will be here. The executive committee
is composed of President Edward P.
Ripley, Benz p. Cheney, of Boston,
Chas Steele of New York, who took
Aldace F. Walkers place, Thos. P.
Fowler. of New York, Victor Morawetz.
of New York, Edward ]. Berwind, of
New York. and R Somers Hayes, of
New York.
Though there is nothing said about
it in the call, it is understood that a
successor will be elected to the late
director, Geo. A. NickerSon, who died
September 2, 1901.
There are three Kansas men on the
board of directors, Howell Jones, Chas-
s. Gleed, of Topeka, and Andrew c.
Jobes. of Wichita.
The purposes of the meeting were
stated by President Ripley in two cir
culars sent out some time ago. One
of the circulars was the official call, as
provided for by law. The other is a
more informal statement of the buSi-
ness of the meeting. set forth in less
technical form The following is the
text of the second circular referred to,
which gives a good idea of what the
stockholders will do tomorrow:
ITO the Stockholders of the Atchison,
Topeka & Santa Fe Railway Com
THE annual meeting of the stock
holders to be held on December II,
1901, is called for the following specified
purposes:
First, to elect three directors to hold
office for four years, and independent
auditors to audit the books and ac-
counts of the CON pany- The directors
whose terms will expire are Benjamin
P. Cheney, George G. Haven and John
G. Mccullough. The Independent audi
tors are Messrs. Price, Waterhouse &
Co.
Second, to approve of and ratify the
conveyance to and purchase by this
company of the railroad and other
properties of the Kansas City. Emporia
& Southern Railway company, the
Florence, Ell Dorado & Walnut Valley
Railroad company, the Marion & Nc
PhersOn Railway company, the Wichita
& Southwestern Railway company, and
the Chicago, Kansas & Western Rail-
road company
These properties were conveyed to
the Atchison Topeka & Santa Fe rail-
way company in pursuance of the
policy heretofore followed of consolidat-
ing and unifying the system and its
bookkeeping by vesting in the company,
so far as practicable. the legal title to
the various lines embraced in it's sys-
tenn This action has not involved the
creation of any new obligations
Third. to approve of and ratify the
purchase of the share of capital stock
and bonds of the Pecos Valley and
Northeastern railway company and the
shares of capital stock and second mort
gage bonds of the Santa Fe Prescott oS
Phoenix railway company.
THE purchase of the stock and bonds
or the Pecos Valley and Northeastern
railway company and the reasons for
such purchase have been explained IN
the annual report issued to the stock
holders.
The Santa Fe, Prescott & Phoenix
railroad system extends from Ash Fork |
in Arizona, to Prescott and Phoenix |
A. L. with various branches. the agsre-
gate length Qneluding about 241a miles |
of spurs and sidlngs) being 24S15 miles |
The company has outstanding S4.940. 900 !
OF D per cent first mortgage bonds, 81 |
$4,000 of per cent. second mortgage |
bonds and $780,, 900 Of capital stock. |
Your directors have succeeded in pur- |
chasing $2,963, coo of the per cent. sec !
ond mortgage bonds and practically ali |
the shares of the capital stock of the |
company at 4 cost amounting in the |
aggregate to 81. .s33. .1OS
The gross earnings and net earnings
OF the Santa Fe. Prescott & Phoenix |
Railway company have steadily in
creased since the construction of tine
line in 1885. and during the three years |
ending June 80 1901, the surplus net |
earnings over and above all charges |
uncIudlng the per cent. second mort /
gage bonds) averaged S93.14S per arr
mum The line has proved a valuable
feeder to the Atchison system, contrib
ut1ng a large amount of profitable trar-
f1c, and its acquisition was desirable for.
that reason, irrespective of the direct
profits. which. in the opinion of the di-
Iectors, the Investment will yield to the
Atchison company.
by order OF the board of directors
E P RIPLEY. President"