Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1904-11-24
FINE PROGRESS.
A. C,L. CAPITAL STOCK IN
CREASED TO FIFTY
MILLIONS.
Affairs Ofthe Road in Splendid
Shape and All Concerned
Are Pleased With the
Bright Prospects for
the Future.

the Future.
Richmond Times-Dispatch, Nov. 16.
The annual stockholders meeting
of the Atlantic Cost Line Railroad
Company of Virginia was held yes
terday at II O'Clock in the Office Of
the company, in the Union depot
building, at Seventh and Byrd
Streets. The meeting was preceded
by a directors meeting, at which
the expected, but none the less gra-
flying, declaration. of a stock divid-
end of 20 per cent, payable in the
common stock of the Coast Line Rail
road Company and 5 per cent, pay
able in the certificates of Indebted
ness of the Atlantic Coast Line Rail
road Company, of Connecticut, were
declared. These stock dividends
were in addition to the regular cash
dividend of . per cent, which is
payable January 1st.
1t has long been expected that
some important step in the matter of
increasing the capital stock of the
Atlantic Coast Line Railroad would
be taken, and the general opinion
arrived at that this would be
about % per cent. There was some
talk of it being SO 1-3, and some
thought it would be as low as 20 per
cent. The increase was from $780,
665,O00 to $4,000, 900. The fact
that a prominent banker refused to
accept so, 900 for the expected di-
vidends on 500 shares of Coast Line
stock Monday showed that, in the
judgment of experienced fnanciers,
a larger dividend would be paid.
The payment Of this dividend is APP
parently fully justified by the ex-
traordinary development of earnings
of the Coast Line Railroad, as well
as in the growth Of thelSouth.
INCREASE IN WEAITH.t
The low grades of the Atlantic
Coast Line have very much facili-
tated its operation, and the remark
able growth of the trucking industry,
together with the enormous increase
of wealth in the South as a result of
the cotton crop Of the last two years,
have been reflected in the steady
growth of the earnings of this com
pany. Its past has been one un-
broken success, and the future APP
pears equally promising.
After the declaration OF the divi-
dend, Mr.. Beverly Munford offered
the following resolution:
"Resolved, By the stockholders of
the Atlantic Coast Line Railroad
Company, in annual meeting assem-
bled, that the management Of this
company are entitled to the graft
tude of its stockholders for the fideI-
ity, integrity and success with which
they have conducted its affairs, and
that the thanks OF the stockholders
are hereby rendered these gentlemen
for the in which they have
discharged their important duties to
the public and the company"
MIR. WALTERS CONAIENDED.
In presenting the resolution, Mr..
Munford spokeof the integrity, fdel-
ity and Isdom which had charac-
terized the history of the Atlantic
Coast Line ever since it came under
the control Of its present manage
ment. The resolutions were seconded
by Mr.. John Stewart Bryan, who
spoke in a similar strain, and pointed
out the extraordinary development
of the spirit Of personal fealty
throughout the entire force Of the
Coast Line as a direct result of th'
influence and personality Of Mr.
Henry Walters.
In replying to the resolution, Mr.
Walters said that he had always re
garded his positions as thecontrollin.
factor in the Atlantic Coast Line as
trust to be exercised for the stock
holders, and that he was, therefore
doubly glad to be able to votefor thi
dividend, which would assured
make the present Atlantic Coas
Line stock worth 1925 q share, 6
which price he had asked the stock
holders to subscribe about two year
ago. The meeting then adjourned.
HIGH INTEGRITY.
L IoaIo.o4;o1 oF @hi1 6ix;Ion