The sun., 1916-11-12
WILL SELL
U. s. RAIL HOLDINGS
London Company Offers S12,'
879, 700 Securities Of q
Southern Line.
PLAN A REORGANIZATION
Move Decided Upon at Request
Of English Treasury
Officials.

Al the request Of the British Treasury
and In order to facilitate the arrangc-
ments for American exchange the Nirec-
tors Of the Alabama. New Orleans. Texas
and Pacific Junction Railways Company.
Ltd, a British company. have decided
to sell some Of their holdings in Ameri-
can railroad securities. This company
was formed in London In 1881 for the
purpose Of acquiring control OF certain
railroads which II wa0 thought could b
proftab bly, linked UP with the Alabama
Great Southern Railway.
The securities offered are >0.0S6. 900
Of the general mortgage ~ per cent
bonds Of the New Orleans and North
Eastern Railroad and 1850. 900 income
mortgage bonds and o6,336,o00 OF the
common stock Of the same railroad and
Southwestern Construction Company.
These securities total 312.S7s. 700. and In
consideration of the sale f:,%00.o0 10
asked. which II an amount slightly In ex-
cess Of q capitalization at s per cent OF
the average income received from those
investments over the last ten years.
II the securities offered are cold the
f2.l00. 900 will be applied against the
purchase OF British Government Q per
cent. Exchequer bonds due In 1920.
These, II is estimated. will show . yield
on income of fl44.ooo annually. against
an average income in the ten year period
Of flls,2 $50 for the securities mentioned.
At the same time. contingent upon the
sale of these securities. Il Is planned to
r%eorgan!ze the financial structure OF the
Junction Railways Company % a. to
bring It In Accord says Q letter to the
debenture ~bondholders Of the company.
with the intrinsic worth n earning
capacity OF the company's assets. while
the company's powers shall be assim-
Hated TO those Of an investment trust
company" To this end the fi.5o0.ooo
Of "a" shares will be reduced to $780,
900 and the f2.6oo.c 900 Of shares to
ESQ, 600. and these reduced Issues are In
turn to DO consol!dar ed into one class OF
stock. -.
The assets representing capital will
then be: "a Cash purchase price. to
be invested in Brttish Exchequer bonds
(2) Securities Of Alabama n vicks-
burg Railway. consisting Of $4,000
VicksburR and Meridian hrst mortgage
es; Sl4i,loo consolidated 80. @S%S.<oo
second mortgage So IND Sl.iss.ooo oom-
mon stock: 90 securities Of the Weeks
burg. Shreveport and Pacific Railway
consisting Of Si.s18.ooo general mort
age bs. y5.osO.lOO D per cent proieIieo
stock. s2,778,500 common stock: 90
slos,s5o common stock Of tho Railroad
Lands Company (6) approximately
100000 Of cash m miscellaneous as
sets.
ATLANTA. BIRMn.oaA1a Z allan.
CO safnanGs Or fourth wax IN
october were 500. oSe, . gain Of eiH,s<o;
for October, SS?s.iiS. an increase oil
S5e.<W
cHEsAPEAKE . oHIoNoroo eerninss
for nrs, week OF Ne~sm1sr we're oeos..lo.
increNse S2A,7lB. From July ! Gross wal
1if,See, 100, increase es1S.ae7.
MAINE cENTRAL0Gsoss eefninOv for
! nrst week In November we're es<e.isS. IN
crease Ss3.'1A
ST. LOUIS soUrHwEsrnRE-Rsperts
sroes earnings for hrst week In November
Of ss%e. 900, Increase SsS,eoe.
ST. LOUIS 4 FRANC1sCO-oross
eArnings for September we're et.<1Iees. In.
crease ST<6.<s over September. 1919: net
after taxes was ti.6iS. <st. increase eeos,cs''
For three months ended sept.mssr 80 sros:
was S1Ssa4,eje. Increase oteso,o2s; mel
after taxes. Ss.ss2.o%<. gain OF ssos.ss7.
TEXAS a PACIFIc-Grcss earnings for