The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-22

comes all the more interesting, for the
stock must have been taken by some
strong interest, as it does not show in the
floating supply.
a contribution to TIE literature on
Atchison is supplied by a stock exchange
house, which in a special letter on the
stock says: with It's unique location.
tapping the traffic Of the Grsat Lakes, OF
the Pacific, the Gulf, and the republic OF
Mexico, this road has made phenomenal
progress in the matter Of earnings since
the reorganization in 1896
In the fiscal year ended June 30. 1905
the gross earnings Of the entire system,
including lines controlled through owner
ship OF securities. amounted to $l,Si4,so9
against $50, 62i 30 i'm the fiscal year ended
June 30, 1897. The net earnings OF the road
in the same period Increased from Sh154,-
OF to $50, az, g22. this item being larger IN
1906 than the gross earnings Of lSS' Inc
present year will show still more Halter
ing results. AtchisOn has often been ac-
cused OF excessive use OF capital, but the
accusation viii not stand in fare Of the
facts. From 1887 to 1906 the outstanding
capital obligations were Increased from
$3.50, 500, go to S491 ,6S4, 800. or only OBJ per
cent; while gross and net earnings in the
same period Were increased 1906 per cent
and 296 per cent, respectively. Surely no
intelligent critic can find fault with %
per cent increase Of capitalization that
increases net results threefoid.
The circular quoted above sums up its
conclusion as TO the present position OF
Atchison as follows: Cd That the road is
in the unique position Of having its own
rails from Chicago and the Lakes to the
Pacific. the Gulf, and the republic OF
Mexico along the lines which offer the
greatest possibilities for the development
of traffic I'm this country. 90 that The
property Is In excellent condition and that
all expenditures Of new capital have
brought I'm far more than a corresponding
turn in the way Of earning. % That the
results for the present year promise 10
show more than - per cent earned on the
common stock and that the convertible
bonds. while an absolutely SAFE invest
ment, have an important speculative value
In being a call on stock that must soon
go on a per cent and. ultimately, on a
higher dividend basis. 90 That the stock
and convertible bonds are always well
looked after In the market by the friends
of the property. (5} That the road is on
the most friendly terms % relationship
10 the Hartman lines, with which 1t
Jointly controls certain lines 10 the north
of San Francisco. 90 That the opening
within the present month OF the Abo Pass
CUTOFF new road Of about go miles
will shorten the main line eliminate some
Of the worst grades on the system, and
contribute greatly to the economy and
efficiency Of operation"
The many capitalists now az Palm
Beach and other winter resorts are not
out OF reach Of the telegraph wires nor
are they much behind In getting New
York Stock Exchange quotations.
Baltimore and Ohio net earnings for
January decreased S4f473.
Traffic managers and other officials Of
the soft coalers gathered IN session here
yesterday and discussed the proposition to
advance the bituminoUs coal rate from
3 cents per ton mile 70 3iz cents. on ac-
count of the high cost Of labor. materials.
and general railroad operation. All the
roads Of the Eastern Ohio and Western
coal traffic associations were represented,
as well as the Ohio Coal Traffic Associa-
ton.