The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-12-27
CENTRAL'S INCOMES
suoXy REMARKABLE INCREASE IN
VALUES FOR PAST YEAR.
BIG JUMP IN THEIR VALUE
NOT ATTRIBUTED ALTOGETHER To
INCREASED EARNINGS.

persOnN Familiar With Market Con-
ditfons Think n Movement of Some
SORT Is AfOOt in Connection With
the PrOperty-Business to Date
Promises Well for Next Annual
RepOrt-An Roads of the Southern
Group in Good Condition.
one of the most marked improve
within the last few months has been
that of the Central of Georgia in
comes, securities that have long been
fayorites with local investors
and which in the last year
have more than justified the
faith that had been placed in
them by an increase of market value
that has been unprecedented by SIM
liar issues of any Southern road and
which has probably been rarely
equalled by those of any road in re-
cent years.
How great an improvement has
been made can best be shown by
comparison of the market quotations
lOT Tic 0CSOllQ anu III
comes a year ago and those at which
these securities are now quoted, as
follows:
Dec.26, 1903. Dec. 20 1904.
B A B A
First incomes 10 70 92 SO
Second incomes 81 80 70 70
Third incomes .2Oh 21h 62k 6S1z
A part of this increase can be fair
ly attributed to the excellent showing
that the road has made in recent
years, especially for the fiscal year
ending June 80, 1904 when for the
first time in the history of this issue
of securities a dividend was paid on
second incomes, but this hardly ex-
plains the greatly increased value
that has since taken place, and, in
fact persons best acquainted with the
course and fluctuations of these is
sues are inclined to look for something
back of the movement that has sent
them to their present standing.
Deal May MateriaIixe.
This is shown by letter from a firm
of welI-known dealers in securities in
New York, which is quoted, in part, as
follows:
mere IL dSdllA COilSloCA dtDlO olClAFll9
in Central of Georgia issues, but moth
ing definite comes out to account for
the movement. OF course. the search
ty of good bonds and the demand for
investments of that kind, count for
something in this connection, though
we must say that it is hard to reject
the suggestion that some deal in re-
gard to the property may, after all,
material.ze.
"An incident which has had a good
effect on sentiment in connection with
Southern properties generally, was the
increase of the Louisville and Nash
vile dividend. putting that stock on a
per cent. basis. 1t strikes us that
when the market becomes more ac-
tive Southern Railway common and
preferred will be likely to exhibit ma
terial advances, -
Whether it be true or not that a
combination of some sort is on the
tapis, the fact remains that the road,
from the present outlook, will make
another excellent report for the pres
ent year, for the movement of cotton
over the line has been almost unprece-
dented, and the outlook is that that of
fertilizer will be unusually heavy,
while the generally prosperous condi-
ton of the country has caused a large
movement of miscellaneous freight, as
we'll. 1t is stated, too, by persons in
timately connected with the manage
ment that the property is being in no
wise neglected. and that as a result
the physical condition of the road has
never been better.
Southern Groups Showing.
In great measure what can be said
of the Centrars outlook for a pros
porous year is applicable to the other
roads of the Southern group. the South
ern Railway, the Atlantic Coast Line,
the Louisville & Nashville, and the Sea-
board Air Line, all enjoying the same
class of trade and, therefore, each
sharing in the present prosperity as is
shown by the following tables of their
earnings for the season up to and in
Guiding the first week of the present
month:
Atlantic Coast Line-Gross earnings,
from July 1, $6,575, 4S1; previous year,
$6,O65, 420 increase $510,011.
Central of Georgfa-Gross earnings
from July 1, $4,7O6, ass; previous year,
$4,000, T65; increase, $685. 20.
Louisville & Nashville-Gross earn
ings from July 1, $16,922,4S0; previous
year, $16.412,S 04; increase, $5O9,676.
Seaboard Air Line-Gross earnings
from July /, $4,3OS, FOG; previous year,
5000, 436: increase, $309.27O.
Southern Railway-Gross earnings
from July /, s21, 521, OOS; previous year,
s2o,O26,14s; increase, $1,494,S55.
Xmas Rates Seaboard Air Line Rail-
way.
Account of Christmas. the Seaboard
A. Tfna T2afIuyau will soil fiokatS 60