The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-06-09
BUILDING UP Line
Wis. Cent. Making Money but 1t
Goes Into improvements.
INCREASES M'P'L'S FACILITIES
Talk of 500 Road Dividend Is Fer
ststent-Rock 1saand Buy
ing Stocks.

VIM. L. Bull. chairman of the Wisconsin
Central board, who has just completed
trip OF inspection over the entire sys-
tenn, says that although the road is earn
ing 1 per cent on it's preferred shares no
dividends will be declared this year. The
management intends to put. the road in
ffrst-class shape before beginning a div
tdend record. Mr.. Bull says: ...s.-
have found the property in excellent con-
dition. We are beginning to reap the results
OF our expenditures for terminal facilities
In Minneapolis. Business has increased so
fast that l have lately found it necessary to
approve plans doubling our Minneapolis IA
clities for handling freight. One reason ioT
this Is that we have, by the opening OF the
Manitowoc division. secured a short line
giving an outlet for -four traffic via Lake
Michigan. BY the same route we carry coal
from the Pennsylvania coal fields to Mime
apolis, making paying haul both east and
west. Our traffic Is becoming more diverSi-
fed as the country develops. At first We
were dependent chiefly upon forest products.
but now We carry a great deal of ore to Ash
land, -four from Minneapolis dairy products
from the region north of Chicago, ice from
the various lakes and stock from western
Wisconsin to Chicago.
The years operation Of the Wisconsin,
Central will probably show about per cent
on the preferred shares. 1t will be poll
cy to continue improvements until the whole
line is in frst-class condition before declar-
ing dividends, and it seems unlikely that
this policy will be departed from at the pres
ent time
Talk of 500 Dividend.
In spite of repeated statements to the
contrary, the hope Of a dividend on 500
preferred stock will not down in the
east. Several eastern authorities have
1t figured out that the soos surplus for
the present fiscal year after the pay
ment of fixed charges will amount to
S1,750,Ooo. While it is realized that the
eompany's big program of improvements
will not leave such an amount for\ dis
tribution, it Is figured that the 500 is
earning above its cost Of improvements
the full dividend on preferred and some
thing on common The prediction has
recently been made that the Canadian
interests on the board will yet declare
In favor Of dividend on preferred this
year. One of the local men prominently
identified with the 500 said this morn
ing that he did not believe a dividend
would be declared at the annual meet
Ing Regarding the prospects for a
special meeting Of the board he said:
"A special meeting is not contemplated
ut this time. That is not saying, how
ever, that one will not be called"
Rock Island Developments.
II is announced that the Rock Island
purchase OF st. Louis & San Francisco
stock does not give it control of that
property. The Rock Island made no fight
for the control OF the Des Moines & Fort
Dodge, whose annual meeting was held
Saturday.. The Des Moines G. Fort Dodge
forms a connecting link between parts
of the present Rock Island system in
northwestern Iowa. Either deal has
been made with the new owners or the
Rock Island contemplates building a
small piece Of road northwest from Des
Moines.