The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-03-18
THIRi1Y THOUSAND
FOR Mr.. Stevens
Salary Of President Of G. & o.
Increased Five Tllou-
III sand.
INTEREST 1 III. IN LOUISVILLE
INTEREST IN LOUISVILLE
Southern Railway the Only Com
mon Carrier WHO Receives a
d Direct Subsidy for Mails.

The Railway World makes the follow
Ing interesting statement In It's last issue:
Officials of the Chesapeake and
ssOhio are sharing in tile prosperity OF I
1 stthnt company. The salary OF Pres-
don't George Stevens has been adj
vanced s5.0oo-from $4,000 to $4,000.
General Passenger Agent Fuller, As
sistant General Passenger Agent Bron-
son and other passenger officials have
also received increases in salaries"
All the officers mentioned above are out
or town, and the story. cannot be verified.
There are accommodating evidences in
{ the emphatic reports from the company's
home office In Louisville that Louisville
and Nashvile's dividend will be Increased
10 seven per cent. and there arc good
reasons to expect It. The company is now
earning three times what it is paying,
so that there is no reason why 1t should
i not paysa little moro. The Atlantic Coast
Line Railroad is understood to have paid
about los for control of the Louisville and
Nashville. and the receipts in dividends
! lave not equalled the interest cost on tic
1 purchase. is said that the At
tic Coast Line is DESTROYS of breaking
even on interest charges, and so favors
an increase. The payment of seven per
cent will make interest," on cost right
i and will relieve Atlantic Coast Line of the
necessity of any further writing off OF
louisville and Nashville stock. as there
IS no doubt. in expert opinion. that 1t
would sell ut about 1I5 on a seven per
cent. basis. Louisville and Nnshvilles
book value at present 1s stated to be
pbout 10.
In connection with this it is concur
rently ru,nored that Louisville and Nash
VILE would become q per cent. guaran-
teed stock, Atlantic Coast Line being the
g1larantor. Such a change In Louisville
and Nashvile-Atlantic Coast Line rela-
lions have been mooted frequently. I'm
portant minority holders, however. have
stood out against such an arrangements.
claiming that as Louisville and Nashville
was now earning actually nearly % per
cent, the guarantee should be on an 8
per cent. basis at least.
The following companies have ordered
cars from the American Car and Foundry
Co.: The Bangor and Aroostook Railroad
Co.. 635 nat cars and SO box cars; the Vir-
slnia and Southwestern Railway Co., 80
box cars. The Pullman Co. has received
an order for fifty motor cars from the
metropolitan West Side Elevated Railway
Co. The Sunday Creek Coal Co. has or
cars OF 10000 pounds capacity. The Cen
trail OF Georgia Railway Co. has ordered
1000 plain box cars. The Virginia and
Southwestern Railway Co. has ordered
500 wooden gondola cars. The Boston
Elevated Railway. in addition To the cars
for elevated service. reported as ordered
March 9th, has ordered fifty semi-con-
vertible cars for surface use. The Joliet.
PIainfeld and Aurora Railroad Co has
ordered two motor cars and four trailers
from the ST. Louis Car Co. for May de-
livery. The 3Lorian Street Railway Co.
has ordered five 4s-foot conference.-the
cars.
The following companies have ordered
locomotives from the American Locomo-
tire Comply: The Chicago and Illinois
Western Railroad Company. twenty-five
locomotives. the Buffalo. Rochester and
Pittsburg Railway Company. four simple
Atlantic tros locomotives and SIX simple
consolidation type Locomotives; the. CHI
csEo. Lake SHORE and Eastern Railway
CempanY. six simple switching locomo-
tises: the Minneapolis and Rainy River
2ailrua5 Company three locomotives:
TIE Tsu.isEarrjnx and Northern Ontario
EaiEWsr Company two E-Ftieel loco
sr,'.fzss. tae Washington. Idaho and
-sois.a,ss ga1raad CoupsnT. tTo ~
z.ssl-zT Cunfs-rT. has ordered one =
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