The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-26

neapolis & st. Louis into good thing
by properly equipping and improving the
road. They are progressing along the
same lines with, the Iowa Central and
the same policy will undoubtedly. be APP
piled to the Colorado Southern. With
the continued growth of the big systems
the day will undoubtedly come when bid
ding for the HaWleys roads will be strong
Whether the stockholders will be willing
ito sell Is another question. Good divi-
dends regularly paid on a large block OF
stock marks highway to contentment.
The future OF the Iowa Central is being
moulded in different groove than when
the road was in the hands of Russell Sage.
1t is such results that are causing the
American business world to watch the
progress Of Hawley.
c., NJ. & st. p. Surplus
There are great possibilities in the
big surplus with which the Chicago, Mil
waukees& st. Paul is healing" itself.
Changed conditions or what has amounted
Ito revolution in American railroading
may force a new policy on extensions by
the Milwaukee, in which case the bigssur-
plus will meet any reasonable demand.
It has been the policy of the Milwaukee
not to string its mileage out in a straight
lime but to-griGiron its territory thorough
ly. With a mileage nearly 1000 miles
tgreatersthan the Great Northern or North
ern Pacific, it extends only one-third as
far across the continent The Milwaukee
through it's numerous lines has succeeded
magniticently in its policy Of building up
| local traffic. In twenty years the Milwau
KEGS mileage has Increased Sc per cent
while it's gross earnings have increased
| $50 per cent This in large degree is
due to the ability with which the mileage
was placed keeping such expenditures in a
country that promised we'll in the way of
Increased density Of traffic.
I lAll this worked well under old condi-
| tions in traffic. The question which f1nan
Eciers and railroad authorities are now
discussing is; will not the remarkable
developments of raflroading in the past
five years force the Milwaukee to- make
extensions which will ultimately carry
the line to the Pacific coast? AS result
Of consolidation the Sante Fe, Rock Island
and Milwaukee are now the only indepen-
| dent systems of Importance west Of Chi
cago The posi- Utilities of advantageous
| connections both east and west are dimin-
ishing The Rock Island has become am
bilious and is guarding it's future in this
direction by timely extensions. The Santa
BE possesses its own line from Chicago to
te5the Pacific, and is, therefore, invulner-
fable in that direction. Evidence has been
accommodating of late that the Milwaukee
has several ambitious plans of this ma
trre under consideration. Developments
| in the near future will affect them one
way or the other, but there appears to be
no question but that the Milwaukee il
preparing to protect it's revenues by ar
I important extension west. Whether this
means an extension from Evarts, S. D..
to Helena Mont, or not, no one but
President Earring and the board Of direc-
j tors knows Surveys have been made II
that direction. President Earling has sale
that the Milwaukee will extend from
! Chamberlain, S. D., when it builds into the
Black Hills, but that the extension is not
4 contemplated now. Other Milwaukee Off.
cials realize the necessity of the road!
beginning to strengthen its position or
through traffic by an extension to the
coast. and they say the line to Helene
would give them short route. to the Mon
tana capital and the cattle traffic as wei
as place them in an advantageous position
to build to the coast from that point. TIL,
Milwaukee is maintaining a surplus equa
to about 13 per cent of its common stool
issue and financiers believe that Presiden
Earring and the Rockefellers are arminl
4 themselves for future contingencies.