Show DENVER RIO GRANDE WONDERFUL RAILROAD The Tho Denver er Illo Hlo Grande 13 railroad iI road which h clOs crosses ci es more mountains and at higher elevation Ile a than an any other ot rail railway wa hi tn the world is onto ono of or th thin the m roost most It interest interest- iu lug Ing properties In Inthe the entire American railway system This is is a true liue for Cor or a u. number number num Horn ber of reasons It Is Iti handicapped by heavy y sra grades c. c t and b by severe fulls falls of while i the tIre system Includes miles milts of third thild of tile the lie entire narrow narrow- gauge gause nearly rl a mileage Thus flirts the tire operation of oC tho tire wall road loadis is III difficult and ant cosH costly while from a strategic lc sta standpoint to it Is the tire Indispensable a. a ble be link of connection between cn tire the now- now I ly hr built buill Western Vesten Pacific terminating at Salt I-ait alt Lake Jakc City an and 1 the Iho line lino of the 1 Pacific another Gould roa road load The lire prospects of or tim the road must roust rest upon its future faN an as part of this lila new transcontinental tal tai system The Western Pacific In I III now mow well along toward completion and has been In an excellent and substantial fashion according to lo tire the bc besl l practice of tire Iho present day with maximum grades of If 5 28 feet as against feel feet eastbound I anI and I lOG feet feel westbound on ott the Ito Union Union- I Central route It will wIlt require skillful management and careful engineering engineer engineer- lug ing work worl however CI to tu pi event this iris ad advantage an- an vantage front from being own away uway In tn Jhc hc rugged C country traversed b by the Denver Den Jib Hlo Grande G the time transcontinental trans continental I divide dl al at I i L S. S 11 feet feel high h at pass ut mit feet icet Hn Hind and 1 at al Tennessee hiss s 10 IO 10 IO feet on dlf- dlf cot ct-cot lines Th The of or the Western was accomplished by 11 till tho sale tale of oC Z p per pur t cent Western Vc e Pacific Unit hit ago bonds by to a t t and closed mortgage on cit 21 miles s of toad road Qa by mortgage o oh i tire the Sun Suit Kran- Kran cI els eis co o o of company aunt and by direct guarante of or tine Iho Denver aver fc JIb Uio Hlo Grande which owns of Iho tho 75 capital stock of or tie Iho cst In Pa- Pa cine It IL was ur originally thought ht that the tIre proceeds of this Issue INne to tu tip tip- hiatt tet 1 would woul be dent clent to build tho thir main line lino mini and 1 some seine mc feeder branches us HS ut part of tiC tho tire construction cOl work fit felt upon ripen when prices cm high arid and RI labor hor was scarce C r e arid and ont tM trO eio d which shiichi Jl were con lon mini mini-it 1 VO lint ii I had it il been hlll a anticipated fl I ci Cun Consequently an all a additional Satiric I of ot see see- rec cnn ond madu IC OS- OS at ont Nary sary The rite Itlo Grunde merged geil with wih th thU the U Denver S lIla Klo Grande r railroad Jul 27 7 1008 has to purchase sufficient lt mort bonds bowls of or th n for the tine completion of or tho but hit It ii would have havo inn been difficult If IC not Jot Impossible to tu 11 Int ml an nn outside these rhe c bonds n nl nt t a a. decent Conse- Conse on Qi September 10 lIO at a i ape ape- lil m mooting meeting ih ire y of or Den Denver 11 the ver er JIb Itlo Hlo Grande railroad an l sue ISSue fIC of or Jr t and refunding refunding- G C Gp per p r cent bonds of which co coto to bo be to Jnes Hues then their thel exist t hag Ing Tim Tho s HUb author author- 1711 1 1 tho the Issue fwd and side sale tala of or of or theio lion f fIrst t and arid l' l r is 9 s. of 01 which were wen to cover r probable require require- nu of ot tho tire D Denver Klo Ulo Grande Grannie 11 while the tho balance alane 01 of tho the Issue were for foi 01 the the lie pur purpose sc of IC funds for fr completing tho the 11 main hi limo lino of or r the t h Pacific Ito Iho Denver t RIo Ulo HI Grande rec r j I fa face n value of oC Pa Ja- pa- pa second mortgage ort c bonds In lit of oC thin tho funds so su u used I lon the lie completion of ot et tue dlce e ter Pa- Pa chic lh thise u additional funds are art of course I cle an additional burden to Denver 8 Rio mo d Grande Grando which how has lias a fun funded debt o of 01 0 or per ml mile In iii add add attI lion Hon to sno of capital stock is Inn i at tit t the I rate to of or IS a 1 mile making J a total capital of per mile Considering Considering- the lire nature latU of 01 tine the y traversed tim the earnings of th the Denver cr Rio Rho undo Grande c have always been rath rather r re- re The lt total operating revenue t-evenue for tor or tire the year ended ceded June 30 0 O. O 1903 amounted amount amount- ed 1 to i. i a I sum shut within OOOO o otho of oC tho ho highest earing earnings In lit the tho history of tire the company In although tire the 19 I O earnings earn earn- ings were based upon slightly greater m mileage a c. c These earnings rite aie at It tine rate ralo of ot ss per pcr mile OJ Operating expenses 1 were at t tho the ra rate to of per mn mile After providing for COl or- or taxes an and al all al charges agaInst Income int Including 5 p pel por on tire the preferred stock and after arr a contribution of or to tim the fund there l a surplus from ruin ire tho years year's a rs r's operation operation-of o If 6 G Out Ont of this his was for additions and betterment arid and was as carried cai forward as a R. out pt-out Soil and lo loss surplus Operating expenses es as a whole hl because the lire severe c wr high h. h c merit ment following following- the tho panic of 1 7 left heft PIC rolling In lit bad ad lon condition lUon and un at- at roUn- roUn ial labor alKI or It lt w worse Thin Tho proceeds of oC Inn Ihn provided pru l for fOl tine the Uses IS of the tw Denver rr n Jib Illo Grand Grandi by hy tho the new mew ne mortgage w will wi bo ho applied moth hoth I to fixed charges harI and to rolling oIling stoc stock Contracts have e a l 1 een I let for ci- ci thirty icon loen- freight h and twenty 00 1000 ears cars la 10 bo inn II passenger oars cars which will wil 10 by my bythe the tire time the tire In condition condi t 1 01 tion for commercial business Gazelle Ia Kail I load Ago 4 |