The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-11-16
OFFICERS PRAISED
FOR FAITHFUL WORK.
Affairs of the Road in Splendid
Shape and All Concerned
Are Pleased With the
Bright Prospects
for the Flu
ture.

Tho annual stockholders meeting OF the
Atlantic Coast Line Railroad Company
OF Virginia was held yesterday 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 directors meeting. at which tho eS-
pected. but none the less gratifying,
declaration OF a stock dividend OF 20 per
cent. payable In tho common stock Of
tho Coast Line Railroad Company and
s per cent, payable in the certificates Of
Indebtedness OF the Atlantic Coast Line
Railroad Company. OF Connecticut, we're
addition to tho regular cash dividend Of
211a per cent. which is payable January
1st s @ 55}sl
It has long been expected that some
important step in the matter OF increas-
ing the capital stock Of the Atlantic
Coast Line Railroad would be taken. and
the general opinion had arrived at that It
would be about rs per cent. There was
some talk OF It being 80 1-3. and some
thought It would be as low as % per cent.
The increase was from $36665, 900 to s50.-
00o, 900 The fact that a prominent banker
refused to accept so. coo for the expected
tulvlOcH0B OH SklhI CS 3OlHI SOhS
stock Monday showed that, in the judg-
.ment OF experienced nnanciers, q larger
dividend would be paid. The payment Of
this dividend is apparently fully Justified
by the extra aordinary development OF earn
ings OF the Coast Line Railroad, as we'll
as in the growth OF the South
Increase in Wealth.
The low grades Of the Atlantic Coast
Line have very much Facilitated Its ope-
ra don . and the rema rkable growth OF the
trucking Industry, together with the
enormous increase ofswealt III IN the South
as result OF the cotton crop OF the las t
two years. have been reflected 'ef1, In ,:nee
steady growth OF the earnings Of s this
company. Its past I: has been one un-
broken success, and the future appears
equally promising. /
e ,Afters the declaration OF the dividend,
Mr.. Beverly Munford offered the follow
ing resolution:
Resolved, BY the stockholders OF the
Atlantic Coast Line Railroad Company,
In annual meeting assembled, that the
tiled tol the gratitude OF Its 8stockho holders
for. the fidelity, Integrity and success with
which they have conducted Its affairs
and that the thanks OF the stockholders
are hereby tendered these gentlemen for
the manner In which they have charged
their Important duties to the public and!
tho company
Mr.. Walters Commended.
In presenting the, resolution. Mr.. Nun
ford spoke OF the Integrity fidelity and
wisdom which had characterized the his
tory OF the Atlantic Coast Line ever since
1t came under the contro! of Its present
management. The r esolutlons were sec
onded 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 tho influence and personality
OF Mr. Henry Walters.
Z In replying to the resolution, Mr. Wall
ters said that ho had always regarded
his nosition MS the controlling factor. In
the Atlantic Coast Line as n trust to be
exercised for the stockholders, and that
he was, therefore, doubly glad to be able
to vote for this dividend. which would
assuredly make the present Atlantic Coast
Line stock worth sl25 a share. at which
price he had asked the stockholders to
subscribe about two years ago. The
meeting then adjourned.
High Integrity.
Tho declaration OF this dividend and
the secrecy with which 1t was kept by
those Informed M to what the actual size
OF the dividend would be. and even whoth-
or any would be declared Mt all, Is an
other indication OF that high Integrity
which has always been shown by the
with reference to the stockholders.
Tho road has uniformly prospered but
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