The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-10-20

Frisco a direct line from Kansas City.
Oklahoma, Memphis and all territory
west Of the Mississippi to Mobile.
The New Orleans, Noble and Chi
cago is a reorganization of the Mobile,
Jackson and Kansas City and the Gulf
and Chicgo, whose properties were
sold under foreclosure in August, 1903,
and has the following outstanding
capitalization: Ss,075,000 common; ST.
100000 preferred stock and $4,000, 900
bonds.
3. =. Yoakum Talks.
B. B. Yoakum. chairman OF the board
Of the st. Louis and San Francisco, in
connection with the reported purchase
of the New Orleans, Mobile and Chi
cage sSbs said frisco h.. Increased It's hold
ings In that property. Several years
AFRO II purchased a small interest.
Since that tiihe the property has gone
through reorganization, and more than
$1,250, 900 has been expended upon the
property, terminal facilities and equip
ment.
Serves Progressive Mobile.
This road serves Mobile, one Of the
most progressive ports on the Gulf of
Mexico, the trafic of which both to
and from the ships is increasing rap
idly. Through property purchased in
Mobile, this company now, for the
first time, has ample and adequate
facilities to handle the business OF that
city. Heretofore, without this advan-
tage it had great trouble in getting its
share of business. These terminals are
now nearing completion.
Mobile and the Canal.
The opening of the Panama canal
and the consequent large increase I'm
traffic to and from South and Central
America makes this new outlet at Mo-
ht1a NJ he ", a.
ling export and import commodities,
distributing the latter to the interior
OF all states served north of Mobile.
Although general business of the
country is not up to high standard,
this lines business is Increasing
monthly, due particularly to the &C
QUESTION of new terminals and to the
large increase in truck gardening.
Using the Frisco as an outlet to Mem
phls and the territory Of Oklahoma,
Kansas and other states, both the
Frisco and the Mobile line will be
largely benefited.
Not Complete Ownership.
The Frisco's purchase does not
amount to complete ownership of the
capitalization OF the Mobile line, but
to a considerable increase in Frisco
interest. The property will continue
to be operated as an independent line
and under the control Of the Frisco
railroad only to the extent Of stock
ownership.
THE New Orleans, Mobile and Chi
cago traverses a timber section that
will furnish a supply for twenty five
or thirty years, yielding large north
bound business to the territory served
by the Frisco, and furnishing an off
set to increased southbound business
to the Panama canal While lumber
business at this time is at low stage,
material for lumber traffic is there
and with the return of normal bust
ness conditions considerable will be
added to the traffic Of the Frisco"
Bought Property Cheap.
Mr.. Yoakum declined to state how
much the Frisco had paid for it's in
creased interest in the New Orleans,
Mobile and Chicago. He said, how
ever, that the purchase price was low
and that the Frisco will not have to do
any financing as a result of this pur-
chase. AS he put 1t, the property was
purchased cheap on account of present
prevailing conditions" He said:
THE trouble is not business uncer-
tainty. but political; in other words,
the lack Of a fixed, definite policy of
the government as to tariff, to attacks
on corporations and TO interpretations
of the Sherman act.
The South Advancing.
att is well known that the south is
tending to advance in business more
rapidly than other sections Of the
country. This is partly due to dis
counting the stimulus to southern
business from the opening Of the Pan
anna canal. The purchase of the New
Orleans, Mobile and Chicago, recent
trackage agreement with the st. Louis,
Iron Mountain and Southern, and the
arrangements with the Atchison are
placing the Frisco in a much stronger
position to handle business arising
from the opening Of the canal"