The sun., 1916-11-14
BRITISH SELL U.s..
ROAD TO MORGAN co.
The SI2.5OO.OOO Realized Will
Ec Tsrd to Purchase En-
cllcquer Bonds.
TO BE A REORGANIZATION
Deal for n. O. & \. +. Is In
Interest of Southern
Railway Company.
TO BE A REORGANIZATION

J. +. Morgan 4 Co. have bought
from British capitalists and In the M
,s-es, OF the Southern Railway Com
many the securities OF the New Orleans
and Northeastern Railroad. the chief
.ubsdiary Of the Alabama, New Or.
leans. Texas and Pacific Junction Rail-
WAYS company, Ltd, a British company
formed in London in 1851. The purchase
prlce amounts to about sl2.5oo.oNo. The
securities involved consist OF $5,595.O0O
nrst mortgage 4i3 per cent. bonds, 81
500. 600 income mortgage bonds and s5,-
$4,000 common stock. and the New
Orleans and Northcastern's entire hold
incs OF the capital stock Of the South
western Construction Company, amount
Ing to si4S.7o0.
The sale was made at the request Of
British Treasury officials to facilitate ar
raugcmeuts for maintaining American
exchange on u reasonable basis. The
terms provide tina. the price realized
shall he applied against the purchase
of British Government per cent. ex'
chequer bonds due in 1920. The pf,nc!-
pal British parties interested are Baron
Emile Beaumont dErlanger, who is
chairman Of the hoard OF the Alabama,
New orleans. Texas and Pacific juno
ton Railways: Niscount Grirston. the
Hon. Edwin c. w. Ponsonby and John
varley, all OF London.
The junction road has been operated
IN close association with lines OF the
Southern Railway and the Queen and
Crescent. The company owns the Ala
bama and Nicksburg Railway. las
miles the New Orleans and Northeast
ern Railroad. 1856 miles. and the Eicks-
burg, Shreveport and Pacific Railway.
ISIS miles, making a total mileage Of
81. The British company also owns a
quarter 0,tcres, in the Chattanooga
Station Company, while it has large
land holdings held by the Railroad Lands
Company.
The official circular states that II Is
planned 20 reorganlze the financial struc-
ture of the Junction Railways Company.
$50 as to bring it in accord with the
Intrinsic worth and earning capacity Of
the company's assets. while the COM
pany's powers shall be assimilated to
those OF an investment trust company"
CHICAGO GREAT wESTERN-operat
revenue for first week of this month s3i3.l05
IN rease si1j7s. From July TO November :
$h.tos.ti., increase S's's>o.
tpiphABo q Sol edfUlnct
for mrs, week of November S35siss. increase
til25; from July TO November gross
stoS3 81, Increase s5Aeoj.
DENVER & SALT LAKE-Gross earnings
for fourth week of October So an. decrease
s5l4.: for Oct obcr slss.sO0. decrease sso2e:
from July TO October 81 $I56,5il. increase
g.. tf>.
GRAND TRUNK-Gross earnings for Sep
tonIh"r $3.50. increase tls3.0vj: net after
taxes S5il,sc. increase S7aeob for nine months
enGed September - gross s.,0S5,iD, increase
sl.0S' ~: net after taxes s20i3iO. increase
esi.l50.
MlNSEAPOLIS & ST LOUlS-Gross earn.
inss Tor september Sic ;.3hS, drcrVase slSn?l
net s3lt.a.J. decrease s,-.;S> From july to
October gross t., 81. tsl; increase Siss 9o..
net o0, increase tlt.o55.
MISSOURI. KANSAS l. TEXAS-Gross
earnings for first week of November ss33. t.s
incrc ase $lte.c%i; from july to November
IN 1915 S2,9.s.ces.
PERE MARQCETTE-Gross earnings for
year ended June - &s.sl0.o5S. increase 81. ISL
N3: net after taxes &C. O53 35t. increase 81 $40.
e'3 Total income So a0a.g65, increase 81. .si2 az
surplus after charges &s54.55s. increase ST..
Cs,As.