Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1910-10-20
WALKED OF RAILROAD
"a PROGRESS AND BUSINESS
santa Re Officials Met Many Abilene
Citizens.

Nearly 100 Abilene businessmen
we're at the commercial club rooms
at S O'Clock yesterday to meet the
officials VI the Santa Fe. The wish
tors we're met at the station with
automobiles and taken direct to the
club rooms where smoker follow
ed. Every businessman wore "a
badge which read: Abilene Has No
Kick on the Santa Fe," and the visi-
tors we're presented with similar ones
as souvenirs.
]. T, Nicolay, president of the Com
mercial club, presided at a semi-for-
NAL meeting which followed.
E, L. Copeland, secretary and treas
urer Of the company, said that during
the past year the Santa Fe earned
S105, 900 600 and paid out in operat-
ing the road including taxes $75,-
O0O,O 900. The interest on the CONF
pany's bonds of $300,000,O00 was
$4,000, 900, the dividend paid on
1919, 100000 was $14,0O0,OOO. The
company set aside for betterments
$4 ,O0O, 900, leaving surplus at the
Close Of June, 1910, $365,O00.
BY using the per cent in his COM
parsons, Mr.. Copeland brings his
large figures within range of the av-
erage citizen. His conclusion is that
as the Santa FEES surplus Tor the
year closing June both, 1910, is less
than one-fifteenth of one per cent OF
Its capital stock and bonds, and as
its dividends are small, the company
is not earning as mucn on its invest
ment as is the average firm in the
average Kansas town. The company
has paid as high as five per cent divi-
tiend on its preferred stock, dividend
on the common stock has run as
high as six per cent. But the av-
erage for fifteen years, Mr.. Copeland
says, is four and three fourths per
cent. The interest on the bonds is
four per cent. The Santa Fe is cap
italized for five hundred and eighty
million dollars, and Mr.. Copeland
says it is worth every cent Of 1t. Mr..
Copeland says that the company is
not opposed to the government maxi
ing a physical valuation of its proper
ty. but he insists that the job would
X cost the government twenty million
dollars. This, he. says, would put
gsan additional burden on the people
with no corresponding benefit, ex-
cept to ascertain whether the line
Vas over capitalized. And then, these
fiahres would not be correct in six
months or a year as the line would
either deteriorate or be improved
thereby changing its physical valua-
ton.
Mr.. Copeland says that the inter-
state commerce commission already
has checked up the Santa Fe and
knows what the company's property
consists of and what the company is
carrying in its capital account. "The
, public" said he, "can take my fig
ures with safety, but it does lot nave
to depend upon my statement unsup-
ported. The interstate commerce
commission has entire supervision ov-.
er our accounting department. The
commission tells US how We shall
keep our books and we are checked
up regularly, same as bank exami-
ner checks up the local banks. Lately
twenty experts from the interstate
commerce commission went to To-
peka and checked our accounts from
top to bottom. A Santa Fe state
ment, therefore, can be depended up
on. 1t is absolutely correct, having
the approval of the commission.
There is a receipt on file in my office
for every bill paid by the Santa re
including the cost of additions and
betterments, and the interstate COM
merce commissions experts know that
the money has been expended for the
purpose intended.
bother talks were made by mem
bers OF the party. J. T. Nicolay, c.
NJ. Harger, c. c. sterl and ]. E.
Brewer spoke for Abilene, express
ing the friendliness Of the city for
the Santa Fe and is businesslike poll
Icy.
This is campaign made by off
Gals Of the Atehison, Topeka &
Santa Fe Railway Company for the
purpose Of bringing about better
understanding between the company
and the people with whom It does
business. The officials say that many
questions about rates. service. physi-
cal valuation and capitalization late
y have been handled. IN some In
stances, in a manner calculated to