Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-08
FRISCO'S FATE
IS NOT FACED
BY OTHER LINES
Maturing Obligations of Weaker
Roads for Rest Of Year Quite
Well Taken Care Of.

Inability to arrange financing in
these times of high rates for railroad
money having been the immediate
cause of the Frisco receivership. it
is natural for investors to see wheth-
er there are any others that are like
" to come to the same insurmount-
able interest wall that blocked the
Frisco. With railroad earnings i'm
proving in fair volume. it would be a
default in principal of a maturing OBJ
legation and not a default in interest
that would cause trouble.
A study Of the list of railroad Sc
curities, however, does not disclose
any other road that in the near future
will have the same problem as the
Frisco to face, with the possible ex-
ception of the National Railways of
Mexico TIE maturing railroad obli-
cations for the rest Of the year are
pretty well cared for.
A. 3. &. AS Condition.
Practically the only exceptions. be-
sides the one noted, are S4,700 600
Atlanta. Birmingham & Atlantic re-
ceivers certificates due July l. and
S14O0O,O0 Wabash receivers certif-
icates due August 1.
But as these roads are already in
receivers hands they can not go fur
Their New Haven has $4,000. 600 of
one year per cent notes due De-
cember l. the largest uncovered ma
turity yet remaining this year. which
might give some difficulty if invest
ment conditions and New England
railroad conditions have not changed
by that time, but which there is no
doubt will be financed
II has been reported that arrange
ments were made for the extension OF
the $4,000 National Railways of Mex
leo two-year 4 IL per cent notes,
which fall due to-day. but 1t is by
no means certain that trouble viii De
avoided in meeting this maturity
The reported hitch In the negotia-
tons for the S75,00O,O00 Mexican loan
is unfortunate for the railroad COM
pany. the sale Of S27. 500, 600 Of whose
6 per cent notes is contingent on the
contamination of the Government
loan. The maturing notes are Sc
cured by S6,000,OOO prior lien bonds
and $4,000 600 general mortgage bonds
of the National Railways
NJ. c. g. St. L. Securities.
In July there are sl1,557,OOO Cincin-
natl, Hamilton & Dayton collateral
trust 4 per cent notes maturing,
which are guaranteed by the BaIti-
more & Ohio. No announcement re-
gardinE these has been made. but
no difficulty in meeting them is an
ticipated
Other maturities of the month are
$4,000. 900 Nashville, Chattanooga & st.
Louis per cent bonds, TO be retired
by the recent stock issue. the $4,000
600 Atlanta. Birmingham & Atlantic
receivers certificates mentioned
above, 1896 600 Erie per cent bonds
already extended for 80 years al s
per cent and 100000 Morgan'a Lou
lsiana & Texas genera mortgage
5s, for which no arrangements have
been announced.
After that there are only 81 900 600
Hooking Valley twO-year - Der
cent notes due November l. and So
$4,000 Frisco divisional first mort
gage IS in addition to equipment oh
legations and ,he Wabash receivers
certificates noted the likelihood of
any other roads being forced into re-
ownership because of the difficulty
or arranging financing at the present
time.