The Birmingham age-herald., 1905-01-11

000,000 of these bonds of the total au- thorized issue of $sOOOO.OO0 the road has on deposit ss60OOOOO bonds of the Louis vile and Nashville system. The collat- eral trust As are redeemable at par and interest on or before April l. 1sos
 The yearly cost of this outstanding is- sue Is S9200OO only, but it is understood to be the desire of the present control in carrying out its extensive ultimate plan to exercise it's option. The bonds thus redeemed will be a partial carrying out of the comprehensive system for ef fecting changes which has been mapped out
 If the increase in net earnings for the remainder of the fiscal year holds pro- portionately the percentage shown in the five months ending November. the road will easily cross the sl2,0O0, GOO mark. It's net increase for that period was S4SS.6l0. or almost $10O,OOO per month.
 With the southern iron and steel trade so prosperous, and with the increased tonnage from other sources due to the cotton crop and the trend of the, es- port trade to southern ports. the roads traffic should be in no danger of de- crease.
 A report has been current in the city that the Louisville and Nashville railroad and the other roads entering the union passenger station would dissolve the ar rangement existing at present, and that the Louisville and Nashville had asked the other roads to vacate.
 An investigation of the rumor in the offices of the various roads yesterday showed that no such action has been anywhere.
 The rumor had 1t that the roads had been asked to withdraw by the first of July. but railroad men state that there could hardly have been the slightest grounds for such reports, as all of them have long contracts with the Louisville and Nashville for the use of the station. and that the contracts could only be broken by regular legal action.
 Although 1t has been said that the conference that was called to meet at Washington to consider the declared in-
 
 Mallory line to apply differentials on and after January had been abandoned. the conference has been held and a truce agreed upon. The notice of the Mallory line and the Mobile and Ohio has simply been temporarily suspended. and the whole dispute between these in- terests and the Atlantic and Virginia port lines will be taken up by a spe- cial committee which is to meet at Palm Peach on January 23.
 The understanding is that the decision which the committee may make is to be a finalty and binding upon all concerned. Whether the Mobile and Ohio and the Mallory line will abide by this decision Is doubted by their opponents. This dis trust is prompted by the fact that a previous ruling by an arbitrator. abolish ing the dlfferentials that were demanded by the Mobile and Ohio route, was re- pudiated. This was a direct affront to the arbitrator and shattered confidence In the Mobile and Ohio-Mallory alliance ever accepting any future settlement that might not accord with the view of those interests.
 Whether the new committee can reach conclusion that will end the fight Is uncertain. The Atlantic and Virginia port lines may be said to be a unit in unalterable opposition to any proposi- ton designed to accord the Mobile and Ohio route anything bordering on the diff ferential concession that Is demanded. The only real excuse for the claim, there fore, is the plea of the Mallory line that 1t needs and means to have the business and that of its railroad ally; that 1t is entitled to the privilege because 1t has rails to East St. Louis.
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