davidaulloa/AmericanStories huggingface dataset:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
IMMENSE PROFITS Have
Wonderful Profits in Railroads.

years in the value of their holdings. A
man who bought Atchson stock on
Dec. 10, 1898, for 81 a share can sell
ii today. If he needs the money, for
$103 a share. II he bought Baltimore &
Ohio on the same day for $50 a share he
can sell il for Sis. In the same period
Erie has risen from $13 TO $45 a share:
Missouri Pacific from S44 to 1894: North
ern Pacific from SAL to $500. and even
Wabash from SO to $40 a share"
The Journal might have added with
equal truth that the man who buys
Chicago-New York Electric Air Line
railroad stock today for $50 q share will
in less time find IL worth 800.
In studying the Journals figures in
Vestors should keep in mind that the
steam railroad stocks cited represent
THE EARNING VALUE of the roads
over and above cost. These railroads
are mortgaged, that is, bonded. to the
amount of the cost of construction. In
terest on the bonded Indebtedness con-
stitutes a fixed charge which must be
paid before the stock is worth a cent
These bonds must be worth their face
value before the stock is worth any,
thing. The railroads thus pay what Is
equivalent to double dividends that is
interest to bondholders and dividends
TO stockholders. Therefore. when or
binary railroad stock is worth s200 a
STARE. it means that in addition TO this
amount there is a mortgage on that
road In the shape of bonds which them
selves are worth. par, value, 500. That
railroad is making good profit on a
valuation of $500 a share
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

Here, then, is the first proposition: If
steam railroad can pay ID per cent
of it's gross earnings to its bondhold-
ers and a dividend to Its stockholders
In addition, IL is fair to presume that
with equal opportunity an unmortgaged
electric railroad will pay TO it's stock
holders this enormous sum in addition
10 the dividends 1t otherwise would pay
Ii is equally logical to conclude that
II steam railroad bonds are worth par
value, or 500. and the stock is worth
$780, which is twice it's par value, stock
of the electric railroad VIII be worth
500 plus $500, or $500 share.
The question TO be determined by ir-
vestors, therefore. Is: What are the
money-making opportunities of the
Chicago-New York Electric Air Line
Railroad?
That the United States needs more
railroads is now pretty generally I'M
derstood. This In itself is a great op-
portunity which the Electric Air Line
will share with the railroads.
But there is greater. The investor
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

must remember in making his calcula-
lions that a railroad can be operated
py electricity for less money than by
steam-15 Der cent less at the lowest
calculation. So we shall have an cleo
tric railroad with all the earning power
OF a steam road, traversing the choic-
est part OF the United States. which
can be operated at a saving Of 10 per
cent
That ought to be profit enough to sat-
lsty any man. But that Is not all. The
speed possibilities of electricity, the
straight track contemplated, the alb
sence Of all grade crossings, and the
snortness Of the route-16O miles short
er than the shortest existing steam
road-will enable us to send passenger
trains through from Chicago to New
York In ten hours, and freight trains
at corresponding speed. In other words,
by virtue OF it's speed the Chicago New
York Electric Air Line Railroad Will be
able to do twice as much work In q
given time as any, competitor, and al
less cost.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Bank Statement.

New York, JAN 5.-The statement of
the clearing house banks for the week
five days. shows that the bands hold
$147 S25 more than the legal reserve re-
Quirements. This Is a decrease of $S,221,-
400 as compared with last week. The
statement follows:
Loans. 81 ,O49, CO.., 500: increase, SIG, 694, 500
Deposits, 81, OOo,57 300; increase. NS.2T,-
Circulation. $5s, 200; decrease. $500.
Legal tenders, $77.341,Ooo; increase, So
Specie. s172. 90. 400: decrease. 1881. 800
Reserve, $3.50, 1872. 400; decrease, $402. 100.
Reserve required. $250,144.575; increase,
81. 1S9, 800.
Surplus. s147. s25: decrease. s., 221. 400.
Ex-u. s. deposits, s4,24S,225; decrease,
s. 253, $50.
The Financier says:
Last weeks official statement OF the
New York associated banks was disap-
pointing in that it failed TO record the
increase in cash which was expected
from the results of the known movements
OF money during the week. Not only was
this cash lower, but the surplus reserve
was decreased. instead of its being aug
mented as was looked for. 20 an unusu-
ally small sum, indicating that a greater
number of the banks than was the case
| In the previous week were below the re-
Quired reserve. IT seems likely that the
| loan expansion was caused by the en-
| ployment of money temporarily deposited
! by corporations in the previous week in
anticipation of it's distribution for divi-
dends and interest, which loans were
/ called last week when the above noted
payments were effected. The cash loss
| shown by the bank return was S402 100
! the estimates called for an increase OF
about 81, 900 000
DEPOSITS were decreased s1s.277,200. The
required reserve was increased "a 1S9, 500
| adding TO which the loss in cash made
| S. 221, 400 as the decrease in surplus re-
serve, to S137. S25. the smallest amount or
record, though at the corresponding date
| In 1906 II was SOL, 900. Computed upon the
: basis of deposits less those of SIG. 40l. 6Ot
public funds, the surplus is &24s. 225. The
| increase in loans was S16,694. 200. The
| daily average of bank clearings durinf
! the week was $425, 000. 600. against 1914. 0o0.
! in the previous week; clearings on Satur
day, reflecting Fridays business, were
! eeo9 O00 GOA
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
eRAlN ANn PROVISIONS.

chicago Jan. 5.-Sentiment In the wheat
pit was bearisn all day, but during the
idsl hour the desire to sell became less
urgent and the market became steady.
the new low record. market was touched
soon after the opening and also later in
the day. The general situation showed lit
Tie change. Weather conditions were ia
Sash wheat continued slow and trade IN
Ilour was exceedingly dull. The market
was influenced at the opening By lower
prices In Liverpool and because liberal
receipts IN the northwest. Later the mar
ket was bearishly affected by large prf-
mary receipts. the total movement today
Deing $4,000 bushels. against $4,000 for the
corresponding day one year ago. Cash
ana commission houses were the princi-
pal sellers and shorts the chief buyers. the
market closed steady. May opened I'M
changed TO Il cent lower at 75ss675IS, sold
or to I9% and closed at 753sg75iz, shade
peIow the final quotations OF yesterday.
Despite renewed efforts by the bears to
break the corn market prices held steady
an DAY because Of good support by sew
erai leading commission houses. May
opened unchanged to a shade higher at
SSa4Sd431s. sold off to 42x and closed un-
changed at a.
Trading in oats. was fairly active and the
market was easier because of liberal re-
ce.pts and in sympathy with wheat May
35% d357A.
Provisions opened weak on realizing
SIZES. but soon rallied on buying by local
packers and shorts. At the close Nav
pork was up 2M cents, lard was off 21x9
cents and ribs were I'D 21S cents.
me leading futures ranged as follows:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
PRICES WENT UP
BUT FELL BACK
Heavy Transactions in Wall
Street During the Short
Saturday Session.
SOME SHOW oFCONFIDENCE
HARTMAN GROUP THE CENTER
OF ACTIVITY.
SOME SHOW CONFIDENCE

New York, Jan. 5.-The speculative re-
vival which developed yesterday in the
stock market had the effect OF bringing
I'm large additional participation today
The transactions for two hours were
largely In excess of the recent average
for full days business. Prices wav-
cred when the complexion OF the bank
statement became known and a sharp
reaction followed its publication. The
late rally In the market did not carry
but the closing tone was strong. The
greatest speculative activity conferred in
the Hartman group, especially Union
Pacific. The disclosures OF yesterday AT
the inquiry by The Interstate commerce
commission of the wide scope OF the ac-
tivities OF its executive in the purchase
Of stocks and the requirement of a voice
I'm the control I'm other railroads came as
a surprise 20 most OF the stockholders
themselves. The exhibit of the power
thus conferred Ia their property appor-
emily pleased them, and there was no
sign OF the anxiety recently shown for
the consequences Of this inquiry in the
possible disclosure Of a condition in the
affairs OF the HJrriman companies that
W"ulc make them amenable TO legal proc
ess D. the government.
Tie speculative spirit was fostered also
ny the quick relaxation in the money
market which has occurred duvirg the
NeeT. Confidence on this point was
some what shaken by the showIng Of tho
bank statement. the net result pf which
was n cutting down OF the surplus 10 n
nominal figure. The large loan increase
was readily attributed to the financing
OF the January l settlements. The de-
crease Of $l02,1O i'm the cash item instead
OF an estimated gain OF 81 100000 had more
influence on sentiment. The failure 20
take account OF the trust companies in
the provision Of the one per cent in
stallment OF the five per cent cash re-
serves which came into requirement on
Jan. l, probably explains the discrep-
ancy. There was a notable expansion in
the buying Of bonds at the stock ex-
change and general hardening of prices
Total sales of bonds. par value. s., 4S4. 600
The action OF the stock market with the
opening OF the new year indicated a
spirit OF caution I'm speculative sentiment
and degree OF hesitation and uncer-
tainty In the opinion held over the out
look. The existence of this spirit seems
20 be responsible for the air of constraint
on speculative operation which charac-
terized the first transactions of the year
IN spite of the satisfactory working out
OF some OF the Immediately unfavorable
factors i'm the situation.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

Notice.


NOTICE is, HEREBY GIVEN that a
special meeting of the stockholders Of the
Utah LithOgraphing CON 1any, a Utah
corporation will be held at the office OF
said company at No. 45 Richards street
Salt Lake City, Utah, on the 18th day OF
January, 1907. a three o'clock in the aft
ernoon OF said day, for the following pur-
poses, to-wlt:
To elect a board OF five directors. a
treasurer for said corporation. TO serve
until the next regular annual meeting of
the stockholders.
SECOND.
To consider and pass upon the question
CO amending article VI Of the articles OF
Incorporation OF said company, which
reads as follows:
That the amount OF the capital stock
OF said corporation shall be fifteen thou
sand dollars. which shall be divided into
six hundred shares of the face or par
value of twenty-five dollars each
So that said article when amended shall
read as follows:
vi
That the amount OF the capital stock OF
said corporation shall be twenty-five
thousand dollars, which shall be divided
into two hundred and fifty shares, OF the
face or par value>of one hundred dollars
each.
To transact such other business as may
legally come before said meeting
w. T. BENSON,
President Utah Lithographing Company.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

This quick service and freedom from
smoke and cinders will be an immense
leverage in the getting of business,
whether passenger, express, freight or
mail. The Electric Air Line will be able
TO handle an enormous business, and all
the business that il can handle awaits
it's completion. In addition to all this,
purely as a side issue, a by-product. as
it were. there is certain 70 be a grow
ing demand at profitable rates all along
the route for the surplus electricity,
both for power and lighting purposes.
The buildingof this railroad is the
greatest opportunity ever offered in the
way Of profitable railroading. It's stock
holders, already numbered by thou
sands. are for the most part people in
moderate circumstances who see an op-
portunity to make great deal of
money by q comparatively small in
vestment. In order TO make the owner
of a single share as secure in his in
vestment as the holder OF 10000 shares.
every stock certificate issued contains
this clause. which is part of the con-
tract:
"This certificate will be accepted In
payment for transportation to the
amount Of the par value Of the shares
of stock represented hereby, and at
current tariff rates, over any part of
the road In operation"
The company understands that the
sure5t way to gain the confidence OF
the public in this great enterprise is to
BUILD THE ROAD. This we are doing
as fast as possible. BUT YOU CANNOT
AFFORD TO WAIT. BY the time the
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

Remember. We are starting with the
knowledge that as a permanent money
making business. railroading leads all
human pursuits. There is no reason for
supposing that the Chicago-New York
Electric Air Line. in a country actually
suffering for better railroad facilities,
will prove any exception to the rule
Now. then, what are the conditions
surrounding this twentieth century rail-
read whose stock has already advanced
20 per cent and is selling at $50?
The first condition that attracts at
tontin is the fact that this Chicago
New York Railrad is being built by it's
stockholders and will be operated in
the interests of its stockholders. 1t will
be turned over TO the stockholders alb
soIutely free from debt. Instead Of
having to pay ii per cent of the gross
earnings TO the bondhoiders, which is
the case with existing steam roads, that
IA per cent viii be added to the profits
OF the stockholders. ALI OF it's enor-
nous earnings above the operating ex-
penses will belong to the stockholders
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

first section OF this great trunk line be-
gins operations stock will be selling for
much nearer 800 than $50, the present
price; and your opportunity viii be
lessened to that extent. Buy now while
the stock is stin low. Invest a portion
OF your savings now, that they may
double and double again and yield you
rich returns. A fortune awaits the
clear-headed man who IS able to take
advantage Of this extraordinary oppor-
tunity.
Let US Send You Free for Three
Months the "Air Line News"
Partial or installment payments may
be made at the rate of 10 per cent down.
10 per cent monthly, until shares are
paid for. At the present price Of $50
per share this means $500 per share
cash, or it's equivalent, with your order.
and $500 per share each month for the
next nine months. No interest charged
on deferred payments.
All offices open from a. m, to ..
m. Saturday and Monday, S a. m. to
D. m. Call at the nearest Office II con-
venient. IL you can't call. fill out the
coupon below and mail 1t today. This
stock is on the eve of a big advance IN
price. Act quickly.
SOUTHWESTERN SECURITIES
COMPANY,
Western Fiscal Agents
Chicago-New York Electric Air Line
Railroad CO.
Main Offices:
200-239 Delbert Block, 943 Van Ness
Ave. San Francisco, California.
Branch Offices-515-516 Central Bank
Bldg, Oakland, Cal; 610-611 Eitel Bldg,
Seattle. Wash; 305 West First Street.
Los Angeles, Cal.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Metal Market.

New York Jan. Sin the absence of
cables the metal markets were generally
quiet and the prices showed no ouotable
change.
Tin was practically nominal at A.O0@
H.25.
Copper continued firm, with lake quoted
at 2400Q2f. %: electrolytic. 25.7504.00; cast
ing. %. 5Od2375
Lead was quiet and unchanged. with
quotations ranging from 6OoQ16-25 accord
ing to delivery.
Spelter was unchanged at 6.65@6.7o.
Iron is rather unsettled and holders are
said TO be a little easier in some in
stances
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
THE SALT LAKE HERALD. SUNDAY. JANUARY G. 1907

6l0: August. 6.15; September. 6.2566.3e; De-
ctmber. 6.40G645. Spot market steady;
NO Rio. rs; Santos No. s. SIS; mild cof-
zee, steady: Cordova. 9d121k.
SIgar-naw. steady: fair refining,
. Lie; centrifugal .se-test, S-16; molasses
sugar, 1915; refined. steady; No. 6. 4.30;
No. AS; No s. 40: No. Q, AIS: No. 10
No. Il. SIS: conYectfoners' A. 40: mould
a, 5.15; cut loaf, $50; crushed. $50; pow
dered. $50: granulatei. 80; cubes. 505.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Financial and Commercial

The action of the money market
through the strain of the annual settle
ments showed none Of the violent unset
Element which had been feared. There
remains a feeling of uncertainty as to
how much further this relaxing tendency
of the money market may be expected
TO go and how long II may persist
Bonds were dull and there was no in
dication Of an important demand for re-
investment such as usually. appears at
the period Of disbursement of yearly
profits.
United States new IS. registered. de-
clined " and the coupons "a per cent on
call during. the week 80 -
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Money, Silver, Etc.

New York, Jan 5.--Prime mercantile pa
per, 6d61a per cent.
Sterling exchange firm with actual bust
ness in bankers bills at ASSESS. 1855 for
Lilo s9 o. So ioSoS oi ~ siAIy 9a3
G4.S6: commercial bills, 4.S011G4 $685.
Bar silver. 697s
Mexican dollars. 81.
>. Bonds-Governments. steady; railroads.
firm
Money on call. nominal. Time loans,
easy. Sixty days and ninety days and six
month, per cent.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Treasury Statement.

New York, Jan. 5.-Today's statement
OF the treasury balances in the general
fund. exclusive of the $50, 600 gold re-
serve. shows:
Available cash balances ....... .S241, 4l9. 473
Gold coin and bullion ........... JOB 325, 642
Gold certificates ....-........ 59,446 80
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

chicago. Jan. Son the produce ex-
cnange today the butter market was
STEADY; creameries, 22G21: dairies, 0G27
Eggs--F1rm at mark. cases included, 21d
-; hrsts, q; prime firsts, "a extras, 20.
Cheese-Steady IS6D14
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Coffee and SUGAR.

New York. Jan. 5--Coffee futures closed
steady, net unchanged TO points higher
Sales were reported Of IS, $50 bags, incud-
ing March. 5.15Qo.S0; May. 5.95G6.00; July.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

But safety is the paramount thing
in railroading. and the railroads can
afford to undertake any increased ex-
pense in order to assure it. They talk
Of increasing dividends TO stockholders,
but stockholders can get along
without larger dividends. They have
made enormous gains in the past few
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

The Chicago Journal recently said
editOrially:
NAmerican railways are so prosperous
that there is talk of increasing divi-
dends. Nearly every one OF them do
that. Business has grown amazingly
during the past few years and is now at
such a piont that the railways cannot
handle all the traffic that is offered 10
them. From every quarter come COM
plants on the part of shippers of lack
OF cars. The railways are swamped.
This state of things is cause for con-
graduation. for so long as it continues
the country I'm general will be prosper
Gus. Nor is any prospect seen that II
is likely to change for the worse. So
far as can be discerned by the most
acute observer. the United States is
destined 20 remain prosperous for an
indefinite period.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
Short Ribs-Sides Qcose), s.509S75.
Mess Pork-Per bhl.. ,16.Q21s.
Lard-Per 100 lbs, 926
Short Clear-Sides (boxed), e.1211d9 Is.
Whisky-Basis of high wines, 1.29.
Butter and Equs.

changed
Eggs-Steady. UNCHANGED.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
LIVESTOCK MARKETS.

Chicago, Jan. 5-Cattle-Receipts coo:
market steady Beeves. 4I5S77. 20: cows and
heifers. 1.55G6. e: stoclers and feeders. 2. 80
Qz.6O Texans. 275d14.50: calves. 600R8. Is.
Hogs-Receipts, 1900: strong 10 s cents
higher. Mixed and butchers, 625a6 5215;
good heavy. 64oa8.55: rough heavy. 6. aoSi
6.40dS5O.
Sheep-Receipts. 1000: steady. Sheep, 3.75
$3.50; lambs, 45e61775
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

Omaha. Jan. ;-Cattle-Receipts. 300;
market unchanged.
Hogs-Receipts $500; shade higher
Heavy. 6S096.371s mixed. 6.5016.35; pigs
5.25d6.0O; bulk of sales, 632IzG635
Sheep-Receipts, 400: steady. Yearlings
30: wethers, 600G5. 70; ewes. 4.506l5. %
lambs, 6.75R7.50.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

Kansas City, Jan. 5.-Cattle-Receipts
zoo; market unchanged.
Hogs-Receipts, 1900: strong to cent.
higher. Bulk OF sales 6.4096.50: heavy. 6.5
az. 52s2: packers. g. 40G6.5O: pigs and lights
5.2S6s 42lk
Sheep-Receipts. none; nominally steady
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06

EXPERT KODAK FINISHING.
Harry Simpler. Commercial Photog-
rapher. Isl Main street. Get my new
price list.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-06
/ Will Billy

WILL BUY
1000 Aurora Cons. LOCO Manhattan New.
= 900 Bullfrog ALI 500 Buffalo Ariz
aDce Is Santol Chemical
% Phila- Life ms. 5000 American Cop
80 Hubbard Elicit per CVyo)
5000 Burns Moorei 100 Pioneer Mining
Tunnel 200 Waldorf
4G Canadian Mar-11 900 Goldfield Hub
conf h,0OO Cal. n. Y Oil
WILL SELL
5000 California Mon, 600 Adams C;oldfieId
arch Oil 800 Eureka Oil &
1905 Erie Cobalt Gas
800 Ajax Bullfrog 800 Am. De Forest
1,006 Murchie Pfd Com.
1000 Bullfrog Key 900 Colonial Copr y
stone. 1000 Bauman Copper
~ Penn Wyo. Gre 1900 Black Pearl
ceiptS) Qdaho)
10000 United Tono- zoo BidweIl Electric
pah g. Goldfield
and many others. Send for list
C. T, SESINGER,
DEALER IN UNLISTED SECURITIES,
403, 405 <07 North American Building
Philadelphia. Pa.
Send for Daily Mining Market Letter.
Established 1886.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-07-29
OVERCOME BY GAS.
DEATH MAY CONE
Dismissed Printer Takes
Room in Hotel and
Clerk Finds Him.

overcome by the fumes OF gas in his
Dom at the Carolina Hotel. 40 Penn
iylyania avenue northwest. Oscar w.
humphrey. thirty-six years old, OF 80
Prospect street northwest was dlscov-
sred in the nick Of time by the night
Aerk about 3 o'clock this morning.
physicians at the Emergency Hospital
Pport that he is still unconscious and
IA a precarious condition.
Humphrey was formerly employed In
he Government printing ONCE. Re
.ently he was furloughed by Public
,rinter SuIlings. His brOther-in-law,
lanes II. Brown, of the same address.
said 10 have informed Policeman
turner At the hospital that Humphrey
AID been changed man since his dis
nissal from tire Print Shop.
At the Carolina T. was stated t1at
humphrey engaged the room about
o'clock. Shortly before 3 O'Clock this
morning, Earl Ray, the night clerk. de-
ected a strong odor OF gas on the frs:
ioOr and traced the fumes 70 Hum
phrey's room. The door was forced
Ipen but endeavOrs to rouse the occu-
pant were futile.