The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-12-11
Among the Railroads.

A New York dispatch says: 1.-THE At
lantic Coast Line Company has made a
rather better showing than other South
ern lines this year. This is indicated
by increased gross earnings in four
months Of S960000, of which $528,000 APP
pears as net earnings. The following
was said today on behalf of the cOls-
pany: Both of the last two statements
of the Atlantic Coast Line have shown
a good, healthy expansion in gross earn
ings, a fair proportion of which have
been devoted to increased expenses. The
stockholders should be satisfied with the
progress making, and the directors seem
justified in the recent increase in the
dividend
In its report of the Baltimore stock
market, the Sun of yesterday says;
"The governing committee of the eX
change authorized trading in the rights
to subscribe to new stock of the At
lantic Coast Line Railroad Company, the
quotations to be based on the amount
of old stock represented in the transac-
ton. Thus the buyer of rights on 100
shares would be only entitled to the
40 per cent. subscription which the 100
shares carried, or 40 shares of 90 shares
to 20 per cent, or 90 shares, and so on
pro rata. The committee also authorized
that dealings in the new stock or TINS
company with $91.25 paid, may be made
on and after December II, as the books
for the subscription rights close on De-
cember 10 and the first assessment may
he maid at any time between that date
and December 20. Sales were made on
the rights on so shares at 4. That
is the buyer pays 5000 for the right to
subscribe to 20 shares of the new stock
at 1925 a share. This places the stock
at s135 a share, as the per cent. paid
represents $40 a share premium on the
basis on which the new stock Is is
sued
The Charlotte Observer is indebted TO
Cant. George f. Bason, the genial at
tornev for the Southern Railway, for
small nome, which, it is surmised, was
written-in part. at least-by Captain
Rason The first verse is evidently ad-
dressed to the Southern Railway, and re-
cites:
my razorback, strolled down your TRACK
A week ago today;
Your 20 came down the line.
And snuffed his light away.
You can't blame me; the hog, you See
Slipped through a cattle gate;
So kindly pen, a check for ten,
The debt to liqudate."
The reply, which is supposed TO have
been written either by Captain Bason or
Captain Charles Price, of Salisbury, is as
follows:
"Old 80 came down the line,
And killed your hog we know;
But razorbacks, on railroad tracks,
Quite often meet with woe.
Therefore. my friend. we cannot send,
The check for which you pine.
Just plant the dead; place Ger his head,
Here lies a foolish swine
-
Capt. s. w. Parham has turned over
checks to the Presbyterian and. Method
ist churches of this city for S4S1.26 and
$606, respectively, from the Seaboard Air
Line railroad When the materials for
the new buildings OF these churches were
being hauled Captain Parham made ap-
plication to the road to give half rate
on freight. The company told him to
keep all the vouchers of freight paid by
them and the matter would be consid-
cred. The checks above were a return OF
half theEmount paid by each. This very
liberal treatment of the company is very
much appreciated by the two congrega-
tions.--Monroe Journal.
A correspondent of the Clay County
Courier says that Mr.. Jacob, of the Cor
undum Mining and Manufacturing Com
pany, has gone to Washington City,
where he expects to meet DR.. Slocum,
i, president of the Mama Mining Company,
also Senator Finn from Pittsburg, Pa,
also quite a number of gentlemen from
New York city. There he expects to or
game at least 800 900, 900 paid up CAPT
tai, for the purpose of building a railroad
from Murphy, N. c. through Clay coun-
| ty and Towns county, Ga, via Clayton,
Ca, in the direction of Port Royal, S. c.