The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-05-08
EROA OTHER PENS,
MExIco's STATE RAILROAD.

Inc Mexican government has for
some years owned a controlling part of
the stock Of the two larger railroad
systems Of that countryside Mexican
Central and Mexican National roads.
1t has now put forth a plan of con-
solidation under the name of the Ma
tfonal Railways of Mexico. New York
and Berlin banking houses have the
job of financing the consolidation
which involves general exchange of
The latter will have a total capitalIza-
ton Of $615,000, 900 in United States
money, consisting Of SIS, 600 900 Of COM
mon stock, 1925. 100000 of s per cent
noncumulative second preferred stock,
$3o,0o0,0o0 OF noncumulative per cent
first preferred stock, $3.50, 900 900 of per
cent general mortgage gold bonds and
$225,000,000 prior lien AZ per cent sink
ing fund gold bonds. Some SIG, 75O, 900
of the bonds are to be taken by the
bankers for cash to be used as the
needs of the consolidated concerns may
dictate. s-
The new or consolidated company has
already been formed and is practically
government concern-the Mexican
government owing a majority of the
stock and controlling the board Of d.
rectors. which is made up in part of
several government officials, including
the present minister of finance, Mr..
Limantour, the governor of the federal
district of Mexico, and Fable Macedo,
president of the Monetary Commits
sion, who will also be president Of the
consolidated company. Mexico thus
adopts for itself a well-known practice
Of high finance in the United States,
and through the simple device of the
holding company proceeds at little ex-
penditure to acquire controlling pub
lie ownership of it's principal railroads.
Indeed, it is doing what American
financiers, as is alleged, were intending
to do in that country If they had not
been forestalled by the Mexican gov
eminent which, when confronted with
the alternatives of public ownership or
private consolidated ownership, prompt
ly close the former.-Springfield Re-
publican.
THE PENALTY OF BOOMING.
Canada is beginning to feel the after
effects of enthusiastic mercenary
booming. Her labor markets are over
crowded. and want prevails where
erstwhile there was plenty. The cry
ION to Canada!"s has been sounded
persistently for years throughout Eu-
purpose of Fastening the peopling of
the broad expanse of country which has
been settled by wheat growers. The
railroads of the Dominion have been
particularly Industrious In the work of
| inviting immigration. because the in
| the settlement Of the country insured
future freight and passenger business.
| The roads have not only assisted in ad-
vertising Canada's advantages. but
they have spent thousands of dollars
| in constructing trunk and side lines
into the new wheat area.
| The current of immigration from
abroad brought a great deal of labor
to the Canadian cities. and while times
remained prosperous employers as
we'll as workmen were in clover, but
since the depression began last Octo-
| Der, there has been SO much distress
in various centers that sentiment has
| developed in favor of a cessation OF
land booming on the part of the gov.
eminent. There has doubtless been 6
backward flow of labor to Europe. bul
the facilities for return are not as
favorable as those which exist in the
United States and thousands who
| would gladly return to their old home.
must make the best of conditions ant
hope for better times.-Milwauke'
wisconsin.