The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-05


Envy FEBRUARY 8.
article on the Colorado and Southern
Railway. the shares of which company
are held very largely In Virginia:
| a few days ago a man who IL we'll
| informed regarding the affairs of the
| Colorado and Southern Railway Company
when reminded that the common stock
| of tho company was quoted at SO md n
fraction on the tape. replied: Wait a
| little longer and you Will Zee II selling
at 49, This expression, In a small. way
IL indicative Of tho genuine confidence
| which Edwin Hawley. B. r.. Yoakum,
| Frank Trmmbull who Is president OF the
1 company. and tho other large interests In
the property. have IL It.. The Street in
| general believes In the Colorado and
| Southern proposition. Probably this be-
| lief Is founded principally on the pho
nomenally large earnings which are being
recorded month by month and on, rather
| vague idea of the benefits that will ac-
crue from the extensions that are now
being built In the State OF Texas.
Well Differed.
! Tho men whose names have been men
toned base their confidence on an init
| mate knowledge OF plans already partly
| executed and still others that will be
| carried out as rapidly az possible, for
| the development OF the company. They
| also base their belief on an intimate
/ knowledge OF the country in which they
| are already operating and the other sec
| lions in which they Will operate rs soon
as the extensions now being constructed
| are completed. Frank Trumbull under
| stands conditions In the State of Colo
! RADIO probably better than any official
! now connected with the railroads operat-
1 ing in that State. He lis. moreover. n
| thoroughly competent railroad executive.
! He displayed HIS ability as an operating
/ official. two years ago. when with small
/ gross earnings, he cut down the cost Of
! operating very materially without sacri.
iicing the maintenance of the property.
| and was able to present to the stock
holders q most creditdble report OF the
years operations. Without question, b.
| +. Yoakum knows the Southwest. par
/ ticularly the great State of Texas Just
rs we'll as Frank Trumbull knows the
State of Colorado. The fact that two
| years or more ago Mr. Yoakum decided
to ally himself with the Colorado and
Southern and to take an active part in
| the direction of the company's affairs,
particularly with respect to the Texas
4 extensions, was of great Importance to
I the Colorado and Southern. Within a
| few days both Mr.. -Trumbull and Mr.
| Yoakum will return from trip through
/ the Southwest, where they have been
| inspecting the extension work now in
progress and attending to other matters
1, of Importance in connection with the
| plans OF the Colorado and Southern man
agement.
Steady Earnings.
More than year ago the Colorado
and Southern earnings made a decided
\ turn for they better The Improvement
| ever since has been steady and even pro-
/ nounced. The December statement and
/, that for the sir months ended December
4 81. were we'll in keeping with the exhibits
4 for many months preceding. The reports
| both for December and for the half-year.
4 are strlkngly favorable nStwo important
| particulars. 1t is generally known that
1 the Colorado railroads are handling a
Large amount of traffic, bit 1t is evident
/ from the official figures that the Colorado
| and Southern is specially well-prepared
to handle this rapidly Increasing bust
ness. In the month of December the
gross earnings expanded 21-2 per cent.
while the operating expeLses increased
less than half that rate. o. II per cent.
These facts resulted in again In net
| earnings of more than GO Ter cent. For
the full six months there was an average
gain IN the gross of over per cent,
| During that period the o)crating eX-
penses, were only IA per cent larger than
for the corresponding six months Of
1904. The company closed thelfrst half Of
| the year with net earnings d operations
nearly 46 per cent larger tan for the
| first half of the previous hsca year. The
| gross receipts for tho first tree weeks
I Of January indicated that the returns
for the full months will SHOW n steady
increase in traffic.
| Large Income.
Recently we made the statment on
Trustworthy information that, according
to present Indications. the earnings nppli-
| cable to interest for the present. fiscal
year which closes juno 30 nexl will be
equivalent to four times the AMOUNT of
| the new 4}1-2 per cent. refundng and
extension bonds that will be outtandlnE
/ at that time.
\ We are able now to give thefigures,
4 partly estimated, Of course. on Which that
i statement was based. For the fisal year
ended June 3d. 1906. the net inome OF
the company applicable to interGt was
4 81 ,4s2,1s4. The interest for the var on
the equipment trust notes and other
obligations was s1O2.74s and on tn first
mortgage bonds s7s9,12o making aItotal
sof ss71.s8s. Deducting this amount from
the $1,4S2,1S4 mentioned above, left sur
Fplus for the year of $61o,3l6 n
The net income applicable to inarest
on bonds for tho six months ended De-
oember 81, 1905 December partly esti-
mated), WAS sl.1s7. 900. 4 Assuming thatthe
iincome from operation Of the roadand
from. miscellaneous sources applioble
j to such interest for the six months nd
ing juno 30, 1906, will be as large asforS
i the Same period in 1905. there wouldbe
added to the interest money Just mn
/ toned s667,47a There will also be aded
for the full year income from propety
4 jacquired by the uso OF refunting Nj
Il extension bonds and from miscellaneoss
items. total of $4,000. These tine
Items mako a. grand total Of $2,1l4479 aIa
plicable to interest, To pay tho interet
on the first mortgage bonds for4the tn;
!; year will REQUIRE s776,12o which. deductes
from the ~ 1l4, 47s, would leave 31.s3s,3bby
I applicable to interest on the new AIS that
y will be outstanding at the close Of the