Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-02-05
e,old Securities, Especially Den
YER & Rio Grande, Create
Local Interest.
WORK ON WESTERN PACIFIC.
NH construction ON Eastern Di-
vision Is the Ordcr--Ncw York
Dispatch on the situation.

soarp and rapid rises In Denver &
p., Gaude railroad stocks on the New
v,,,- market during the last week have
s.,o noted locally with interest The
.4,,reos made i'm these stocks may or
..sv NOT Doe connected with the reported
..,uisiuou OF the Gould road by the
,lar interests. In New York tho in
,-sasa DO RIO Grande stock values IS
attributed to the definite announce
.,sut Of the opening of the Western
pacific the coming summer. II Is known
nst every nerve is beng strained by
b. road TO complete the work of con-
.,rget.5n ut the earliest possible date.
70, IN. eastern division of the Western
pacific the opening of traffic between
Salt Lake and Elko. New, is expected
any day. and progress ON the western
md IS said to be rapid The situation
a. viewed In New York is given in
,b. following dispatch from that city:
Denver a. Rio Grande preferred adj
RANGED from 79% TO $685. this week.
vbUs The common moved up from 3Sia
"a ON the definite announcement that
we Western Pacific will be put into OPP
,.4f0n by the middle of the summer.
The Western Pacific when completed.
yru connect the Denver g. Rio Grando
ATM the Pacific coast. The Denver a.
Rio Graude win certainly profit by this
raw through business; nevertheless Ccr-
lain facts shoulud not Doe overlooked.
The Western Pacific has been an cX-
osnsila project. and the credit of the
Denver a. Rio Grande rs behind the new
uad The $4,000 900 first mortgage
osr cent bonds ON the Western Pacific
ranre-eut capitalization Of $4,000 per
milo. while the chances are that con-
aderably less than $50 600 "a mile was
recieyed from the sale OF the bonds
As the funds secured from the sale OF
NE fret mortgage 5s proved insufh-
,5nt S25. 100000 . per cent second
mortgage was created I'm addition 90
Dc ST. 600 900 bonds the Western Paci-
b has outstanding S15,00O,O00 stock,
making q total capitalization OF $780,
N060 ar 1852 600 a mile Many OF the
altoade with vcll-established business
lra not capitalized for Sl62 900 per mile.
Iu discussing the future OF the Vest
,rn Pacific. President Jeffery recently
stated 1T may be confidently expect
I'd that the Western Pacific viii not
nIv easily meet it's own obligations,
bud contribute "a large volume OF new
traffic to the Denver a. Rio Grande.' A
neV road as extensive as the Western
Pacific Is not started until its financial
hackers are reasonably sure that such
expenditure d. warranted by the actual
business iu sight. Therefore IL Is rea-
sonable 20 suppose that sooner or later
President Jemery's prediction win come
rue Do the meantime. however, cau-
t0us investors are asking If the IN
rease iu Denver & Rio Grando's traf-
&c from the opening of the Western
Pacific viii offset any temporary drain
upon that company's income.
During the past year. despite the gem
erl depression I'm trade. the Denver &
Rio Grande earned a surplus Of Sl,3iS,-
GOO over its preferred dividend, or over
3 per cent on the S3S.00ooC) common
Stock