The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-11-18
KANSAS COMMENT
CONDITION OF THE ROCK ISLAND

CONDITION OF THE ROCK ISLAND
1t is understood in financial centers
that the controlling interests In the
Rock Island system are very well sat
1sf1ed with the present status of the
finances of the Chicago, Rock Island &
racine Railway company. The pro-
! ceeds of the 100000 bonds, recently
Sold TO Speyer & Co, were turned into
the treasury of the company and viii
be used for general purposes. 1t is
authoritatiVely stated that the COM
pany now has no floating debt and
that in its treasury, in addition to
comfortable amount of cash, there are
the bonds of the Toledo, st. Louis &
Western Railroad company, received
in payment for the Chicago & Alton
stock which the Rock Island sold to
the Glover Leaf, and also other
valuable assets considerably in excess
in the aggregate of current Liabilities.
1t can not be learned that the ROCK
Island management intends to do any
further financing in the near future
100000 of the 100000 which they
recently took from the company. rms
option would have expired IN the near
future and apparently the bankers
were sufficiently well satisfied with the
bond market to think best to exercise
their privilege. Not only this, but they
decided to take an additional $S,OOV'-
600 of the same security.
1t is learned that the agreement be-
tween the st. Louis & San Francisco
Railroad company and Kuhn, LoeD q
Co., with respect to taking care or the
$7,125,0 notes, which mature on De-
cember 1 next, provides that the rail-
road company shall pay off $l,OOO,OOO
of the total amount and the bankers
the remaining $6,125,000. Representa-
tives of the former say that, by the
terms of this agreement they are re-
lieved of all responsibility regarding
the 100000 obligation, with the ex-
ception of the $1,000,000 which the
company has agreed to pay at ma
turity So far it has not been possible
to learn whether the bankers contem-
plate offering an extension or whether
they purpose to simply pay off the
notes on December l.. 1t is under
stood that, according to the agree
ment, the collateral under the $6,-
$4,000 notes will be the same in
amount as it now is under the total
issue.
According to high authority in
Rock Island affairs, no step Is being
taken looking to a separation OF the
st. Louis & San Francisco Railroad
company from the Rock Island system.
Earnings on the Rock Island lines
continue to improve, but the leading
interests in the system do not look for
next two months. On the Rock Island
railway (proper) the gross returns are
about the same as they were at this
time last year.-Wichita Eagle.
DEMOCRACY NEEDS A NEW
LEADER.
It will be a hard matter for the rank
and file of Democracy to give up the
leadership of Mr., Bryan. but it must be
done. He has been fairly tried in three
battles, and he has failed. The last
was the fairest test and the Republic
can victory was most complete. In the
two former battles there was a handi-
cap of money against Mr.. Bryan, but
this was not the case this year. In the
campaign just closed the Democrats
were as well off for money as were the
Republicans, and possibly better off.
There was no artificial stimulus such
as parades and posters. There were no
announcements of disaffection to-
amount to anything. The influence of
labor leaders was on the Democratic
side, and the tin bucket brigade acted
with him as much as. its generals could
make it. The vote was silent and un1n-
famed. The people were allowed to
vote according to their judgment, and
they declared against Mr.. Bryan He
had at least one fair day in court and
he failed to win his case.
There is only one thing for the Dem
ocrats to do, and that is to get another
leader. Nebraska can send Mr.. Bryan
to the senate. 1t is better than putting
him on the shelf and will go a long
way towards reconciling them to new
general.
The Democrats can never run this
country until they cease to be protest.
ers They must be for something, in
stead of against everything the Repub- |
licans stand for.-Wichita Eagle.