davidaulloa/AmericanStories huggingface dataset:
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12
Evidence Taken.

'N'us
y = as Inc twelfth juror was
H., "' eouFt proceeded with
h.. assistant County Attor-
|,aa Ball read the indictment.
| >, NE negro pleaded no,
I. '1s nFst witness introdue.
h, 4esro employee of he
Dixon. "ai''e Oh re
N NJ. knew Jack Jones dur
n !, r's ~, He is dead now.
n s - ne garage where Jones
N ~ was killed. Jack Jones
\, ~ tae room on the left hand
k,As .e entrance door on JetYer-
s ss,o.. | was at garage on Sat
to ,1 ,sa Jack was killed. Next
'as garage Sunday morn.
! ao ~ ! entered the main an.
| , lsof and Wen, to the door
va n,Splns loom. 4 noticed ee
!. a A.. Something wrong '', 1ba
\ t 40 were closed when u !,
f., 'ne garage. i saw n,a aa, ~
also 5 saw both ,e p.npa %,
\, One was on bed espa a.nes
s.a market aud Mr.. Mek,Du,' =
We M, ne :, back to the gar.
s.s 4 Ct. sishtwatehman sass
ana . va He wen, with 4 -
.s ,aa NJ. Mckinney went m''d ~. -
i ", ". room and found Jo ,.sv
hoo, under the bed elo,he.
saw Joe Larkins on
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12

The Daily Light gives the news.
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12

Saturday night before Jack was
killed. He was dressed In old oy-
erals and wore light coat Did
not notice his overalis patched. Joe
cranks car with his left hand. He
did not leave the garage with me.
He worked about the garage for
two weeks prior to killing OF Jones.
! was not In town Saturday night.
Next time / saw Larkiu was on
Sunday afternoon.
Cross-I did not see Joe Larkins
paid off. Saw him in door just be-
fore | left garage and saw MIN
again in Freedman as | went home
was not at garage when Jack was
killed. Never saw any trouble be-
tween Joe Larkins and Jack Jones.
Larkins had on light coat.
A b. Mckinney know the ne
gro "Pewee" Dixon ana saw him on
Sunday morning when Jack Jones
body was found at the garage. II
| was about 1880 that he came to
market and said something was the
matter at the garage. l went 10
the garage with him. We met Sam
Bass and he went with US to inves-
tigate. Found telephones down,
blood near entrance of sleeping
room. Then he picked up bed
clothes and found Jones body III
the middle OF the floor. Bed clothes
thrown in heap over body. Mr. Bass
remained there while ! telephoneo
justice Of the peace and Constable
Jim Hamm. know Joe Larkihs
saw him on Saturday afternoon be
fore killing going along Jackson
street towards garage. This was
about Z or 8 O'Clock.
Cross don't know anything
about the time this murder occur
red. don't know who committed
the murder.
i viii Farrar---I knew Jack Jones
was al Jackson's garage abou
i 1890 o'clock Saturday night befor'
he was killed. He took me an'
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12
|Q1FM[NT ADMIT COMPLETELY
II akns Made Voluntary Statement Few Days Ago,
,fpr His Attorney Urged Him, Which Was Of
fered as Testimony-Court Room Jam
med to Overlooking.

|
pier weaving a Neo Ut u I u'''
E,is Evidence about the DEFEND
Joe Larkins in the sensational
ae. case on trial here today II
Lwsa! term Of district court the
ss attorneys connected the de-
tili with the crime by the III
iieioh Of voluntary statement
is some few days ago, when
ID that he was at least an af-
kglee to the murdeH III" state
said he came 10 the vicinity
he garage in company with VIII
der known to him as Buck,
as, he watched froc across the
i While viii LindleS went in
be garage to get some gasoline
ihal ne saw Llndley and jaCh
\ agAt, he said that Jack Jones
gu, into the vehicle room i'll
light clothes and that they
pit there. The statement fufth-
ald that after the assailant and
Jones had fought some time
called him TO come across
sieel and told him to go into
Nice and see if there was any
ID 'Ae cash drawer. lie said
'a' INTO the office. He denied
as took part IN the fight or
4''Alas further 10 do with the
IL Of lack Iones
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12
negro Still Unconcerned

|, "'''e concern is manifested bv
s'4ai'' tie sat stolidly BY
'ae implements display
I u Probably brought about
s'4sS vicious death without
0heasiness. He listens
f. " 'ne words of each witness
makes suggestions to his
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12

Continued on Page 2, Column u
The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-03-12
ltel,uttal.

ISAIAH Aikens--I know Stella
Johnson and Minnie Lou Cross. Their
reputation for truth and veracity. 1t
Is bad.
George Hambrick was at work
at the tin shack on the night Of
the killing, left there before 10
O'Clock.
Jim Jones, city marshall know
Stella Johnson and Mary Lou Cross.
I know their reputation for truth
and veracity 1t is bad.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
NATIONAL BANKS NOW
IN US. NUMBER 1913
Six New Ones Started in July
Circulation Outstanding
1904, 6O1,373.

wAsH1NoToN, Aug. e.--The month end
statement OF the Comptroller of the Cur.
rency on organization of banks shows
that in July five formal applications for
the privilege of converting from State OF
private banks into national banks were
hled and nine applications were made
to organize national banks by indi-
viduals not connected with national bank
organizations. Eleven applications were
approved during the month. Of which
four were for permission to convert
from private banks or State institu-
lions Into Federal banks.
The announcement further says:
During July six banks witt q total
capital Of S225,000 were authorised TO
begin business, OF which four with q
capital OF 800, 900 had Individual capital
OF less than 100000 and two with q
capital OF S125, 900 had individual capi-
tai Of $4,000 or over.
"On July 81 the total number Of ma
tional banks organized was 1878. OF
which 3.l45 had discontinued business.
leaving in existence 1913 banks with an
authorized capital Of 81 ,076.42l,l75 and
circulation outstanding secured by
United states bonds s723.617.3l4. inc
by other securities sls5.245. Circulation
to the amount OF S o.79S.s l4 covered by
lawful money deposited with tho Treas
urer Of the United States on account OF
liquidating and solvent national banks
and associations which had reduced their
circulation IL also outstanding, making
the total amount OF national bank circu.
lation outstanding $S04.601. 373."
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
MONEY AND EXCHANGE.

The New York Federal Reserve Bank
rates were 4 per cent. for thirty to
ninety days and s per cent. for longer
bills.
open market discounts. prime accept
ances. maturing UP TO ninety days. 2h
u2A per cent.
Commercial paper rates were 81 q
81 per cent. for sixty and ninety days
bills and for four to six months best
names Az per cent. for others.
Call money On the moor Of the Stock
Exchange yesterday ruled at 2 per cent. ;
high. 2 per cent. low. ~ per cent.
Time money was quiet and hrmer In
tone. Rates were ~ CAV per cent. for
sixty days. ~ per cent. for ninety days.
O. per cent. for four months. so
SN per sent. for Ave and 3k93h per
cent. for over the yea
Sterling exchange was easier. Final
quotations were: Demand. t76; cables.
l.7S ll-i6.
Domestic exchange on New York: Ut.
Louis. par San Francisco. %5c, pre-
MUM Minneapolis. soc premium Chi
cago, zoe. discount: Cincinnati. par
Montreal. 6.93k premium.
Call money on London was lg%h
per cent. short bills. bh per cent. +;
three months bills. 6Q5M per cent.
Bar silver in London. 20 7-l6d. New
York. 47hc,
New York Clearing House statement:
Exchanges. S22S,5l7,7s%; balances. &c.
37s.s50; Sub-Tressury credit balance.
e3s,S60.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
MERCANTILE MARINE
MAY BUY PACIFIC LINE
Wall Street Looks for Purchase
Of Mail Co. Vessels for
Atlantic Use,

The possibility OF q purchase BY the
International Mercantile Marine Com.
pany OF the ships OF the Pacinc Mall
steamship Company. which arc to 20 out
Of that company's service on the Pacific
when the La Toilette act becomes opera
tive, has been discussed by representa-
tives OF tho company. The International
Mercantile Marine Company has been
prosperous for some time past and its
earnings forecast. which may be issued
within a few days. Is expected to show a
good surplus after charges. with about
&2.50o.0o which the reorganization plan
will provide in new cash, and the pos.
sibility Of raising $l0.500 900 through
the sale of treasury bonds, tho Interna.
tional will be in a position 10 acquire
additional ships. The big demand on
the Atlantic for ships would. II was said,
make the addition TO its feet a profitable
enterprise.
1t Is understood that the directors O,
the company are preparing to add to the
fleet In a material way. Quickness of
delivery OF the steamers Ia most de-
sired In order 10 TAX advantage OF the
big demand now for shipping facilities
and the high prices prevailing. The
company would. therefore, prefer to buy
ships already built than wait the Ions
time required for building.
Conferences OF officials OF the Pacific
Mall and the International Mercantile
Marine Company have been held. Wall
Street believes that there is a prob-
ability OF the conclusion OF a trade
though officials OF both companies scout
the idea
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
PUBLIC UTILrTuS

Gross earnings Of the Dayton Power and
Increase Of sci per cent. over June. ieit.
The twelve month period ended June 90.
a. inefssss cf' is'H' '4sss ssis in n.s Tor
and the balanes after preferred dividends
amounted to i2l.+79. which 10 equal to
per cent. on the common stock. The
one of the busiest manufacturing sections
OF The country and gross earnings are Just
beginning to reflect the business Improve
contracts for new business have reached
a record volume and It's officials expect q
big gain In earning. for the last halt Of
1915 over the first six months
The Interstate Railway. company has
mad receivers appointed by the Circuit
Clay County and st Joseph Railway Com.
pany. Tho Interstate Hallway Company
brought suit against the Kansas City. Clay
ground that. the right Of way used by
the latter had been secured by the In.
t%erstaie for the same purpose. The Inter
thing tu, a paper road, but 81. claim was
upheld snd judgment for ti.5oo.o 900 was
given in its favor. Although attorneys for
the, Kansas City. Clay County and 81. Jo-
seph Railway assert tina; the road is SOL
vent and application for a new trial 10
P,ending receivers were placed In charge.
ionged litigation over the receivership.
The American Llsh, and Traction Com.
Pts. I Sros. earning. sGr nss year snssd June s 80.
Pared With sscss Of t.us.sio 70. the pre-
surplus for the twelve months was Ssis.-
The balance sheet shows cash amoun,inS
20 sl,sts. ssa and total assets and iisbiii-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
Approximate Intrinsic vaIue.

The scaling down OF capitalization has
been such. says the reorganization an
n~ourcement, that the new basis Of capt.
talizauon aprroximates the intrinsic
value OF the properties as a going con-
Germ without regard to value Of good
Will. trade names and trade connections.
The manner in which the improved
earnings have reduced the burden OF re-
organization and make the execution OF
the plan possible within four months
after receivership Is illustrated i'm the
low assessment on the stock that is pro-
vtded for. This 10 only $3.50 OF the
common n the preferred instead o:
tho @l6 or more as proposed earlier.
This should give the company s2.5i0.00
In cash, which with surplus earnings
will be used as working capital and In
buying additional ships.
The W protective committees with
which q majority OF the bonds are de-
posted have adopted the plan and the
English and Dutch bondholders rave re-
ce!ved IL favorably. A feature of the
plan y that. though 1t scales down the
stock Issues. the stockholders have the
same equity In the company. The par
value OF the securities ahead OF the new
common does not exceed that which was
ahead of the old preferred and common.
The two present bond issues are cut IN
half. The Sj5.552,+l2 outstanding iis
per cent. bonds. viii accrued interest,
receive $27,I76.2o6 in new 5 per cent
convertible bonds and an equal amount
In new non-cumulative s per cent pre-
terred stock. The sls.&t0,l33 5 per cent.
bonds, with accrued interest. receive
Se.a2O.0s6 in the new convertible bonds.
20 per cent. of the face value in new pre-
ferred stock and 80 per cent. In new
common stock
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03

Sealed bids Will be received by the Sec
rotary OF the Board OF Education OF School
District No. 1855, SauEamon County, III.
noip, until 2 p m, August 10, 1915, for the
purchase Of the High School Building
Bonds 81 said district to the amount Of
1900. 900, In denomination OF $1,000 each,
dated September !, 1915. due serially 1916
to 1885 Inclusive. and bearing interest at
the rate OF four and one-half per centum
~ per annum. payable semi annually
on the LIST day OF March and September.
All bids must be accompanied by a GER
tined check for 400 900. PAYABLE 20 4 r.
peicken. Treasurer. as a guarantee OF good
faith
The Board reserves the RICH, to re,ee,
any and al. bids.
The bonds mus; be printed BY the pur-
chaser as per form adopted By the Board
OF Education and delivered for proper ex-
ecution.
The equal!zei assessed valuation OF the
taxable property OF the district in 1914
The total bond.d indebtedness Of IN.
di.trIet- not Including this issue, Is $780,
The approval opinion Of Wood and oak
ley, Attorneys. OF Chicago. Illinois. will be
furnished the purchaser.
For further Information address
ELEANOR MATHEW. Secretary.
Springfield, Illinois.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03

THE SUGAR MARKET.
Raw Quiet-No Change in Quota.
lions on Re0Aed.

ne raw sugar market was quiet yes
brday, with conditions unchanged from
what they were at the close Of the
week. There were offerings OF Cubas
at is4 cents, but renners were not in
the market. Spot prices were unchanged
az fsf cents for Cubas and ass cents
nominal for Porto Ricos.
There was no change In refined sugar
conditions. All interests continued 70
quote $40 cents on standard GRADUATED,
with the exception OF the American
sugar Refining Company. which con-
tnued to quote $50 cents and 10 allow
Withdrawals at SIS cents. England
Fought 1000 tons Of cube sugar on the
basis OF SIS cents. There we're export
INQUIRIES before the market for between
5000 and 10000 tons OF standard gran
uiated. but the bids were not accept
able.
The sugar futures market at the Cot.
reg Exchange was extremely dull. no
ales being reported. Prices were
slightly easier.
prcAS usra.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
WAR ENDS RIDDLE OF
Big SHIP COMPANY
international Mercantile Ma
rine's Recent Profits Aid
Reorganization.
LIGHT ASSESSMENT NOW

As the direct result Of the great i'm
provement In the ~earnings Of tho Inter
national Mercantile Marine Company be
cause OF the big war trade and the hisf
price Of shipping room the reorganization
plan for che company. announced yes
terday. 10 far less drastic than that
thought necessary several months ago
The company went into rsceivership In
April.
The reorganization plan, a. outlined
b, W. W. Miller Of Hornblower. Miller,
Potter a Earle Of counsel for the reor-
s~anisatIon committee cuts the capitallza
ton from si75,5sl.245 to 3ss,S7i.Ss3, a
total reduction OF about ss6. 1000. ooo. The
bonded Indebtedness 10 cut from about
$4,000. 900 ( s3s.5oo. 900. q reduction OF
about t3%,500.000.
The fxed charges Of the company will
thus be reduced annually by about
Sl.t5o.oo0, or approximately - per cent.
This reduction In fixed charges. II Is held
by the reorganization attorneys. will en-
able the company to earn a 6 per cent
dividend on the new preferred stock and
have a comfortable surplus remaining
each year after paying fixed charges
and its annual 5 per cent. ship deprec!a-
tion charge.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
COTTON ERRATIC
ON BULLISH REPORT
c. S. Figures Show Deteriora-
tion-Selling on Report
Of Rain.
PROBLEM FOR

Considering the bullish character OF
yesterdays report from the bureau Of
crop estimates on the condition Of cot
ton the market made q very disappoint-
Ing showing The figures showed q loss
O, Ave points during July. although an
average o. the private reports showed
declines Of only about three points. II
IL true that the bullish character Of the
repor, was somewhat Offset by report OF
showers over . rather wide area, al
though many sections OF the belt failed
10 receive any precipitation.
The Government report showed a con-
d,,ion OF 75.s, compared with sos last
month 76.4 last year and the ten year
average Of 7s5. with the exception Of
tho years 1909, 1907 and 1905 no July
repor, within recent years has made
such a poor showing.
Mention has been made Of the prevail.
lne bearish sentiment on the exchange.
and this was given marked emphasis by
the manner In which traders sold cotton
on the report. There was an advance of
about Is points Immediately after the
publication OF the figures. and October
ran Up to e.35; December. 965. and
January. s.7s. Reports Of showers In
Oklahoma and . few districts In Texas
and parts Of the eastern belt completely
offset tho bullsh showing Of the Govern
ment figures. and the market made a
mall net decline for the day.
Operators generally are basing their
unfavorable view Of the course Of prices
On the difficulty that will b experienced
In marketing the new crop. which will
come Into competition with Q big sur
plus left over from last season.
The New York Cotton Exchange e.
Inmates the total commercial crop last
season. that 10 to say, the amount OF
cotton marketed. to Be about iS.ls6,2s5
bales. The final ceusus report showed
, total ginning Of lS.S45.00o bales, in.
Guiding winter. II was fair to assume,
therefore. that there 10 still In the hands
Of farmers and small towns In tia
South. approximately 100000 baiea
Futures closed steady.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
Bonds Equal TO Assessment.

In return for the $3.50 assessment on
the stock the subscribers receive new
bonds to the value Of their payments.
The holders OF preferred stock In addi-
ton receive 20 per cent. OF the face
value OF their present holdings In new
common stock and the holders OF COM
mon stock 3 per cent. OF their holdings
in new common
The preferred stock is therefore cut
from s5l,726,3o 20 S5l.464.232 and the
common from s49.s72.400 to sis.37o.920.
The new bon Issue is called a irst
mortgage and collateral trust lien. on
which bonds Of s50.0 900. 900 are author
lied. The company will reserve siO.-
100000 Of these bonds to the
fund for the building or acquisition OF
additional ships.
The new bonds will be convertible into
the new preferred stock at the option
Of the holders. The new preferred stock
In addition 10 It's stipulated s per cent.
dividend will be entitled TO additional
dividends at h aame rate as on the
common, after payment Of 6 per cent.
on tho common.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
THE COFFEE MARKET.
Future Prices Close Unchanged to
2 Points OF.

The coffee futures market closed quiet
and steady yesterday. with prices un-
charged to 2 points of on transactions
Of $3.50 bags. The range of price was
extremely narrow throughout the Sos
sion. There was an absence Of selling
pressure. but the continued easy tone
at Brazil discouraged bull operations.
The Rio spot market was lower and
exchange was easier. Port and interior
receipts continued heavy and stocks At
primary points increased.
Brazilian markets were irregular. Rio
To declined IS reis 10 4S975. Santos Is
were unchanged az $500. Rio and San
tos receipts totalled $4,000 bags. Sac
Paulo had $4,000 and ~Jundiahy $4,000.
The rate OF Rio exchange on London
was lowered TO ~ 27-32d.
Prices were:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
CREDITORS BUY METAL PLANT.
Get Main Property Of United statcs
Products Company.

Tho property Of the bankrupt United
States Metal Products Company, III
broadway and College Point, which
failed last November owing $1.00s, $50,
was sold at auction yesterday at 32
Liberty street under tho direction OF
John J. Townsend, referee In bankruptcy.
There we're forty-seven parcels In the
sale and the total amount realized was
S2lG,027. The creditors committee bid
100000 for most Of the parcels. and the
other parcels went 10 outsiders for Sl2.-
OFT. Among the parcels sold were the
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
Redemption of Preferred Stock
Stewart-W Warner
Speedometer CORPORATION.

Notice is hereby given that there has
been set aside for the purpose of retire.
nneht OF Preferred Stock OF this Corpora
t,un coNeTlns The. six months period ending
thOustnd dollars N5g.UUOJ and that ths
corporatlon. VIII apply said amount on ku-
gus u 1915, 20 the purchase of shares OF
saii Preferred stock In the manner mo-
vlded In the certificate OF Incorporation
ahu ny laws OF said Corporation at the
Inwest prices at which such shares may be
on'ieI Tor sale to the Corporation,
sealed offerings by the holders Of such
IIeierred STOCK are hereby invited to be
mhde 10 the Corporation at the orrco OF
~ iransfer Agent. Central Trust Company
OF ilIinois. chicago. Illinois prior TO August
~ I,Lo, which oner shtll state the number
or shares offered Tor sale and the net prIcs
at which such shares are so offered. and
sna., be signed by the holder thereof.
STEW WARMER SrEEDOMETER
CORPORATION
By e. u. SMITH. Treasurer
chicago. Illinois. July ~, 1916.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
TO TRY NOVA SCOTIA COAL.
British Admiralty Ready to Agree
on Testing Product.

OTTAWA. Aug, 2.-As the result Of tho
recent Welsh coal strike the British Gov
eminent through the Admiralty has
taken up with the Nova Scotia Govern
ment the question Of using Nova Scotia
coal.
The Nova Scotia Government asserts
that the coll!eries OF tho province pro-
duce 1000 tons OF washed nut coal
daily. equal In every respect to Welsh
coal. and the Admiralty has practically
agreed TO a test.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03
H CHICAGO MARKET.

CHICAGO. Aug. 2.--Considerable liaui.
dalton developed in Chicago Pneumatic
Tool during the early trading, causing a
decline OF about ten points from the high
prices. There was good demand on the
reaction and the final figures showed a
substantial recovery. Peoples Gas,
sears-Roebuck and Union Carbide
showed a Arm tone. American %Shipbuild.
Ing declined two points. Bond market
neglected. The
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-03

- iAAAF Nh4lIodu GNHtSm 70
ports for June:
Lines East; 1918. Chane.s
Oper. revenue. . . f.l. 500, $50 Inc. St2& $40
Including rail.
way tax ac-
eruais. &e).... l5.ess.ss q Dec. ,Ss.isa
oper. income. ,.5,soi.' s7 mo. sss4,Iu
From January !:
oper. revenue til?,7si.7 $50 Dec. s,sis.o sl
Oper. expenses
Onciudlng rail-
way tax ac-
eruals' &c.).... s,s:2sss Dec. s.o,s. 500
oper. income .,ls.sss.7ss mo ,i.iso,s47
oper, revenue. . $40, ios.lss mo. S.os. $50
dncluding rail-
way tax ac-
eruals. &e) =. 7.<,s.so7 Dee. iH,os7
oper income. s?.sS6.27e Inc. Ss57.&Is
From January !:
Oper. revenue. ,.f52,0lT,e77 Dec lsas lse
Oper. expenses
INCLUDING rsn-
eruais' <e)..' S,'c7.sss Dec. 3s77.ss+
oper. Income. N,sio.57s Inc. 5000
Total Lines East and West:
Sper. revenue S3l .6os.s3s Ino. essi. $40
way tax ae-
eruais. Sc =. :s.iss,a7. Dec. 80. 300
opsr; income. .s,.Ss,5sa Inc. 1i.on,s1o
From January !;
opsr. revenue ,is477s.7os pec.,s.s62.so.
Including rail-
way tax ac-
cruais' &e,) ..iss,oao.s es Dec. 7.s5I.5sI
oper. income .s2s.74s.si5 Inc .~S2,lo2ose
The Pennsylvania Railroad subsidiaries