Evening capital news. (Boise, Idaho) 1901-1927, 1914-05-17
THE MORNING DEFENSE AND THE SHORT LINE

Some of the newspapers of southern Idaho to|
have victims Of Of the honeyfogge provided by
the nearly threequarters of million dollars expended by
the Oregon Short Line last year for industrial and Elm
migration" agents.
The morning Short Line Defense lets out tremendous
wall of sympathy with the poor abused railway of this
section and its almost sufficient to float line OIL
steamboats, for competitive purposes Writing under the
caption "Our Railroad especially defending the an
nouncement Of railroad that it proposed to reduce
it's service the Hill City line to trweekly service be-
cause Of the action Of the public utilities commission in1
forcing it dess from its discrimination against the PEG
pie who happen be served with transportation that
line the Morning Short Line Defense lets out wall about
the people abusing the railroads that should bring most
profuse commentator from the industrial and mmgra
ton agents maintained at annual cost to the patrons
of the railway of $6907O In defense of the action, or
proposed action of the Short Line the Defense says:
asitaons
railroad credits that
carry out mprov ements that had beenpa
There is much more of the sympathy appealing
DOPE but this is sufficient Now let us just how much
of that applies to the Short Line whose sorroWfu condl
ton greatly aroused the tears of The Defense This
road IS per cent of which is In Idaho, received
for the fiscal year ending 80 1913 for its transpora
ton activities 500 Its expenses for the
purposes for the year were $1 leaving
net profit from its transportation activities of $1059O
05416 This is not such bad profit during extremely
dull year state sparsely settled 1daho for
poration capitalized at $100000000 of which only $72
54 800 was ever paid in in money tY But good as 1t
u.s. it would have been increased to $1 had it
not been for the expense of maintaining its ndustria
housekeeping bureau
During the year. this poor impoverished road in
whose behalf such copous quantities OF tears shed by
the Morning Defense, declared cash dividend of $1O
100000 which is 10 cent its full capital stock and
IA per cent that portion of its capital stock which
paid in for the benefit of the railroad.
Why shed tears situation of this kind especially
lnasmuch the interstate commerce commission has
ruled that net of per cent is liberal revenue
for railroad capital to earn7
But this is the entire tale of the impoverishment
of this railroad by unfrendly legislation for political
purposes" We find that the Short Line railroad com
of railway, is also the of various, and
less profitable stocks and bonds of other railroads.
all purchased it fair to assume out of the profits of its
transportation activities most of which in Idaho We
nd for instance, that the Short Line 81 400
worth of the preferred stock of the Baltimore Ohio rail
road and $16425 400 worth of the stock of the
Baltimore Ohio. 1t also 100000 worth of the
capital stock Of the New York Chicago Hudson River
and 900 of the first mortgage per cent bonds of
the San Pedro, Los Angeles Salt Lake railroad. The
aggregate of these four items of ownership is 1858 00
Does that look like the road going broke quickly
because of legislation advocated for political purposes
in Idaho? $1000O000 cash dividend last year coupled
with ownership of 100000 worth of the stocks
and mortgages of other RAILROADS. certainly not such
tremendously bad showing for $1O0O00000 company of
which only $72,541 500 paid in money is t7
We find that in this single cash dividend which is but
an annual taken together with the stocks and bonds
owned by the corporation the entire cash capital adj
vanced is than fully returned leaving the railroad
property entirely free!
But even that is not all of the story.
We do not know just how much of the stock bonds
the Short Line but do find that last year it
ceved 1907 430 income from the preferred stock of the
Utah Light Railway company and $74 IA income from