The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1905-09-29
F||LWAUk[[ TO (Oh[.
EXTENSION :FROM CHAMBER.
LAIN TO COAST.
CONFIRMED " the OFFICIALS
The Lyman County Extension is
to be Pushed Rapidly on to
the Pacific Coast.

Expectations that the Milwaukee
and St. Paul Railroad company will
build the Chamberlain extension
westward to the Pacific coast and
that an Official announcement would
be made soon after the work Of
building started on the bridge at
Chamberlain were realized today |
when it was announced that the Mil
waukee and st. Paul will issue at
once $25,O0O,000 worth of stock.
authorized three years ago. to ex-
tend its system to the Pacific coast.
Already the Milwaukee and St.
Paul Railroad company is working
on the extension through Lyman
county. There have been many ru-
mors about this extension and news
papers not informed as to the facts
in the matter have published many
purported interviews to the effect
that there was no thought of extend
ing the line further than 100 miles
west of the Missouri river and about
half way to the Black Hills.
The Milwaukee and St. Paul man
agement decided to take no further
chances of having their system
blocked in the extreme west. and an
nounced they will extend the line to
the coast at once. The par value
of, the new stock will be $25,000.-
O0a.and will sell for $3.50 per share
prorata, to holders Of the common
stock in order that the proceeds.
337,0O0,000. may supply funds for
the building and equipping Of the
ptoposed extension. Present share
holders may secure this stock at par
according to statements Of financi-
y ii agents. This will make luci-
ous' melon for the shareholders for
there are only &5s.000.000 out
standing Of. the ordinary stock which
would mean that for every share the
holder would receive an allotment
of half share, concession quite
common, y. considering the present
quotation Of Milwaukee & st. Paul.
This stock was authorized in Octo-
Der. 1902, and it was thought at that
time the directors had asked for the
increase in order to forefend the pos
sibi,ity, Of, change Of control ala the
Rock leland and Louisville and
Nashville, But the majority Of Mil
" waukee asd st. Paul stock issues
are in comparatively few hands; II
fact the, Rockefeiisrs and the AT
mours are prominent to an extern
which would preclude capture by al
outsider.
The route to be followed by tn
Milwaukee and st. Paul railroad vii
be west from Chamberlain, g littl'
over 100 miles south Of the North
ern Pacific line. 1t has been statet
authoritatively that the Milwaukee
and st. Paul Railroad company ha
undertaken this project in perfec
harmony with the Hill-Morgan in
terests. 1t Is expected that 1t will b
fully Ave years bsfsfG the first trail
from Sioux City and chamberlai
vill be run over the rails Of tn
niivaukee and St. Paul to the Pacl
f1e coast,
Ths apaasl report Of the Mtlwau
kee and st, Paul railroad just Issue
makes the best showing ever mad
by that railroad company aRd Is e1
couraRtpx to the stockholders, VIII
favor the building OF the western e.
tension.
Perhaps the most noteworthy 7
ture Of the reports is the saving
operating expenses during the pa
wear as compared with other year
While in 1904 gross earnings II
creased 366S.O00, operating expens'
; increased $27s.0O0. During the ye'
..1ust passed the increase In gro
ssfplpgs was s1,55o,ooo and ope
s{ag expenses increased only s4ot
900, In other words, as against
sfncresss Of S3so,8O6 In net earntn
IN 1894 an increase Of tl,l99,O'
was secured in 1905: And. with t
increased volume sf trafRc last yea
the cost Of conducting transport
ton was reduced from flS,5s7,O
to ;18,200.o0o.
With this kind Of report the N
vaukee and St. Paul management
ciares It is much encouraged and b
re fear OF undertaking the great
RpiliiRS enterprise in Its history
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A Chamberlain dispatch SayS Il