New-York tribune., 1908-04-19

Some confederation. apropos OF this. has CONS
this week 10 forecasts in this review suggesting
the value-the sure market appreciar1on-os-
longing TO Colorado Southern securities For
decade no surer bargain has ever been obtain
able
II is not needed that investors should 90
cropping in the dark-current earnings reports
this very week certifying what over and over
again has been declared here. progressiveness
and earning increase for Colorado Southern
while elsewhere the fashion IS declines. contrac-
ton and uncertainty. Colorado Southern last
year showed a surplus OF S1.45o.ooo for is main
lines and for subordinate properties s915.Go0 4
total of s.. .S65. .0O0-out Of which was paid s5So-
600 Of dividends To first preferred and second
preferred stockholders. still leaving over Slol5.-
600 of profits accreditable 70 Colorado Southern
stock.
And II is not difficult to figure common stock
dividends upon phenomenal exhibit Ike this
not little temporary, dividends. but dividends
that can be large and lasting
In Colorado Southern II IS a continually
mounting record-a consistent yearly increase
which demands TO be taken into consideration
Back in 1893 the company was in a rec-ivership.
Its mileage then was larger than IL IS today
Yet with all tax allowances deducted net earn
ings from 1898 10 the beginning Of this ysar
show year by year a regular gain ti-l al New
Years 1908. the net increase IS 1-SI per cent
In dollars and cents the figures run Ike this:
Net earnings, 1898, were SlsS0o0. i've years
later they passed 100000; in 1902. they reached
up beyond sl.soO.OOo, and az The beginning Of
1908 the twelve months preceding showed s.
415.o0O
Record like this IS not paraIleIed IN any cur
rent exhibit OF any progress in any railroads
earnings anywhere.
Colorado Southern common stock IS selling AZ
an insignificant hgure-materiaIIy below one
half Of what may fairly be considered its normal
market value For any investor not handicapped
by impatience there is IN this security safety
and opportunity exceptional. Within the nsxt
twelve months Colorado Southern common ought
TO be on the established dividend list.
One development probably much closer ar ha1d
than generally anticipated has 20 do with
changed conditions in the coal trade AZ lszs'
three Of the great Eastern trunk lines vii prob
ably dIvest themselves OF their coal propeT-es-
and IT is not impossible that the present year
viii see the rounding out OF a new comPrehen-
sive corporation which 70 anthracite viii hzve
much the same relation that the United states
Steel Corporation has in iron and steel And u
this accomplishment even more manifest than
recently in Erie. there may be rapprochement 0s
great financial interests Wall Street has insisted
on scheduling antagOnistic
In other coal fields new and consequential CO
velopments also seem approaching-particular
In southern territory. The Steel Trusts acQor
sitiOn Of Tennessee Coal and Iron properties "a
vastly Increased the Importance or thar com
pany's basic assets. but that very coup p.Sc"
independent iron making plants az = new d|
advantage-giving hitherto unapprOacArd VAN
TO free coal lands having IN volume suits0'
supplies Tor iron making-the premier tndepsA
dent holdings OF This character being inciAas-
in the thirJy-siN thousand acres owned by u"
Alabama Consolidated Coal and Iron CoupAA''
whose coal lands are supplemented by over is-
thousand acres OF and limestone propefu
and by some seventy Thousand acres OF a.
and timber lands. much of the latter great us~ u
mineralized. Not much Is ordinarily heard "
Wall Street Of investments like these; but cor
ditions now arising promise To- make them =
some WAYS even actually dominating
Cheap money seems one Of the certalnfiss -
a substantial time TO COME