The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-17
ATLANTIC COAST
LINE CUTS MELON
Will Increase Capital Stock Ten
Millions, Which Will Be Used
for Improvements.
MORGAN. BUYS L. & N. BONDS
MORGAN. BUYS L. & N. BONDS
President Roosevelt Confers With
a Number of Senators About
Rate Bill.

The Chesapeake and Ohio Railway was
selected last night as the official route
OF the Mystic Shriners to Los Angeles
where the Imperial Council VII be held in
May.
Messrs. b. Al. Newbold and Nathan
Wei, passenger agents of the Pennsyl
wanna Railroad. were in Richmond yes
teIday in the interest of their road, en-
deavoring to persuade the Mystic Shriners
10 use the Pennsylvania route to Los
Angeles
The board of directors of the Atlantic
Coast Line Railroad Company, at a meet
Ing held on yesterday in New York,
recommended an additional issue OF s1o.-
coa0co common stock. which Will be Of
fercd 10 the stockholders at par at the
rate OF 10 per cent. OF their holdings
on "A date to be decided later.
a special meeting of the stockholders
VII be called TO be held in Richmond
on March sth, 20 pass upon the recon-
msndation OF the directors 10 increase the
capital stock. The transfer books for the
purpose of that meeting will close ten
Gays prior 10 tine meeting and reopen on
MARCH, 9th.
The Increase in the capital stock is
nude with view 10 raising money for
additions. Improvements and new equip
ment. AT their meeting to-day the dIrec-
tors authorized the purchase of the fol-
lowing new equipment: Forty-seven new
locomotives. ZOO box cars, 500 fiat cars,
100 coal cars, and fory-e:ght passenger
ears.
The directors also declared the regular
serni-snnual dividend OF ~ per cent. on
the preferred stock, payable May 10th.
Books viii be closed from May LIST to May
10Th, inclusive.
The Louisville and Nashville Railroad
Company on Yesterday announced that 1t
has sold 10 j. p. Morgan and Company
sl0000,c 90 per cent. Atlanta, Knoxville
and Cincinnati division bonds. These
bpnds are part Of total authorized
issue OF s500o0oo0, which was approved
by the stockholders about a year ago
and OF width t,he company has had
Sl4,S!3,poe-in,nts treasury.
The original issue was made in con.
nection with the acquisition and the CON
structiou OF the Atlanta Knoxville and
Cincinnati division The proceeds OF the
100000 bonds which have been sold
viii be used for redeemtng prior lien
bonds on the Atlanta, Knoxville and Gin
cinati division to pay for new equipment
and other general purposes of tho com
pany.
Tho buyer of 100 shares of Atlantic Coast
lime ut the market price, 49,. gets with
his rights Ito shares costing s17,4o0, or.
say, 1hs,172 per cent The cash value of
ms rights are therefore 5.S2S per cent,
President Roosevelt had number Of
railroad rate conferences ON yesterday
with prominent senators. Among those
who called early were Senators Allison
Aldrich. Kean, Dryden and Smoot. Moth
ing was made public after the consulta-
tons, but 1t is understood that the Presl-
dent and those who differ with him on
the salient provisions OF the rate bill arc
now nearer an agreement than they have
been at any time, and 1t Is; believed that.
All danger of a serious hitch between the
executive and legislative branches of the
government Is at an ond.
rhe Chesapeake and Ohio Passenger
Department Is IN receipt of sdvices
from The General Passenger Agent Of the
Chicago, MILWAUKEE, and 81 Paul Rail
way Ia the effect that home-scekers'
rates from their stations 10 virginia have
never beeu Withdrawn nor 10 they expect
% discontinue the sale of such tickets
Adviccs have also been received from
the Wisconsin Central Railway To the
erect that they have decided 10 re.
togo INC sale OF home seekers tckotg
20 virginia points. which affords reduced
itttse from largo territory in the North.
@es. Cor ptpspeGiors of Virginia farm
lands 20 visit Virginia