Deming graphic. (Deming, N.M.) 1903-1948, 1905-04-21
Do san.a Fs.

and, in conversation with a represen-
tative Of the Kansas City Star, gives
much reliable information concerning
the great corporation.
"It Is intended" that the proceeds
of the entire loan Of so million dollars
recently authorized shall for the pres
ent, be devoted to the betterment Of
existing lines and the construction Of
new ones. For this year about 10 mil
lion dollars has been set aside for i'm
provements and millions for the pur-
chase Of new engines and cars, and
6 million for new construction.
"Eighty-five new engines and 5000
cars will be added 10 the equipment.
A few short branch lines in Kansas are
under construction, but the most of
the new construction will be in New
Mexico, Arizona and California. The
remainder of the loan not expended
this year will be reserved for the con-
summation Of plans for double tracks,
the reduction Of grades, ETC., now de-
termined upon and to be done here
after. The large amount Of work |
have mentioned being all that Is pOssi-
BILE for the company to undertake with
out serious interference with its exist
ing traffic.
"And do you understand" continued
Mr.. Kenna, after a moments reAec-
tion, that nearly all this vast amount
of money which is to be expended goes
eventually to labor; for. the cost Of raw
materials and the profits, ETC., are a
very small per cent Of the total cost.
To illustrate: Nearly all Of the cost Of
a tie, rail. or car represents labor,
the raw material costing very little and
the profits being only small per cent
of the whole.
"Of the 10 million dollars to be ex-
pended IN betterments at least 6 million
will be paid out directly by the compa-
ny for labor. The wages will range
from Sl.l5 to $3.75 a day and probably
average at least 81. Making the usual
allowance for Sundays, holidays and
idleness, the work under way would
furnish continuous employment q whole
year for about 1000 men. OF course
many more will be employed. for the
work will be done in much less than a
years time.
The Atchison, or the Santa Fe, as II
Is known in Western America, is a
household word throughout the United
States and beyond the sea, even in
Great Britain, Holland and Germany,
and bankers know il everywhere.
It is identified with the fortunes Of
many thousand families on both sides
of the Atlantic. Its stock is not owned
by millionaires and stock companies
alone. OF its 1900 stockholders,
about 1900 are women. nearly 1000 are
estates; nearly 100 are educational in.
stitutions. and more than $50 are chari.
table institutions. That is to say, a
majority Of the stockholders are wo-
mea, estates and educational and char
table institutions. OF course it does
not follow that this class Of stockhold-
ers owns majority Of the value Of
company's property, but Il Is apparent
that many dependent persons and in
stitutions are interested in the cOmpa-
ny's welfare.
The average of individual holdings Of
Atchison stock Is from sixty TO seventy
five shares. There are some big hold.
ers of course, but they are not many,
In this class Is John d. Rockefeller and
his associates, who own about IA mil
lion shares Of common stock, or about
II per cent Of the authorized capital. "
Speaking Of the holdings Of these men
and their relations to the directory Of
the company Mr.. Kenna said:
Neither the Union Pacific Railroad
company nor the Southern Pacific com
pany owns q share Of Atchison stock.
"Messrs Rogers and H. c, Frick an
now members Of the board Of directors
with the distinct understanding thai
they were not elected as representing
any railroad interest, but merely th'
individual holdings Of themselves ant
their associates"
''The bonds Of the company" Mr.
Kenna continued "are distributed
about as the stock Is held. There are
about $4,000 bondhOlders. The largest
holders Of bonds are the insurance com
panies, and the savings bank deposltOr
owning any Atchison bonds are directly