Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-08-05
STOCK RATED HIGH INSTALL OFFICERS
CHICAGO, MILWAUKEE, G. ST
PAUL SYSTEM Is PAYING
LARGE DIVIDENDS.
Phenomenal Growth Made-lt Is Now
Considered in Wall Street As One
of the Best Paying Railroads In the
United States.

The Chicago, Milwaukee & st. Paul
railway system Is now one Of the best
paying railroads in the United States,
and Its value Is increasing rapidly on
account of the general recognition in
financial circles of the perfect location
and distribution of its lines. Predic-
ton now is being made freely in
stock centers to the effect that the
Milwaukee will not long remain an in
dependent line, but like the Burling-
ton, will be combined with some other
great system. According to the rail-
road journals there is basis for the
belief that some day the Northern Pa
cific and Milwaukee may be brought
together, the latter providing the en-
trance into Chicago and completing
the Mississippi valley circuit and the
main line of the Northern Pacific
covering the necessary outlet to the
coast In this case the Milwaukee
extension to the coast might never be
built.
1t is said by the big railroad manip-
ulators that the History of the Milwau-
kee is identical with that of the Bur-
lington line before it passed into the
joint control of the Great Northern
and Northern Pacific.
The Railroad World says:
Chicago, Milwaukee & st. Paul is
one of the choicest investment stocks
on the list, and yet not many years
ago it was traded about the street be.
low par in the same class with Mis-.
souri, Pacific, fluctuating with it and
But in 1902 the common stock sold
o1o 70 COM CHI hot
price was refused for considerable
troll With $500 miles Of main track,
st. Paul's lines traverse the states of
Illinois, Iowa, Missouri, Michigan, Wis
consin, Minnesota and the Dakotas.
The railroad occupies an entirely in
dependent position and is thus en-
allied to exchange traffic with all con
Meeting lines on equal term. Its
greatest revenue comes from the traf-
fic arising from the products of the
mines, and, second, from products of
agriculture. which together formed
nearly one-half Of it's total tonnage of
21,267,000 toLs in 1904
There are many attractive features
about st. Paul, one being that the cap
italization is low in comparison with
that of some other properties. The
total capital stock is $106, 967,3OO, and
the bonds aggregate $121,433, 500.
Thee is s5S,183,900 of common and
$48, 1888, 400 Of preferred stock, the lat
ter being entitled to Z per cent, and
after the common receives like divi-
dend the profits re to be equally dis.
tributed on both issues st. Paul pre-
ferred is seldom traded in, the trans
actions generally being from 81 to So
per share above the CONNER The
active issue is the common, on which
dividends If .ei cent have been
paid since 1902.
Many of [. Paul's bonds will ma
ture within few years and the debt
can be refunded at much lower rates
Of interest, which will be of advan-
tage to the stock. Or if the company
needs more money it can sell addi-
tional bo..ds and the interest on the
new issue would not increase the
charges over the present amount
The stock commands such high pre-
MUM, however that it would seem
to be good policy to issue more
shares if additional capital is needed
giving the shareholders the right to
take new stock at a price below the
market value, after the policy adopted
by the management of the Pennsyl-
vania Railroad company The rights
thus given to shareholders would be
equal to an extra dividend"