Salt Lake Telegram | 1916-12-03 | Page 39 | W. P. Railroad Earning $2414 per Mile; is Charged $1080

7 U Nm We VI Pe P. RAilROAD EARNING 2414 PER MILE IS CHARGED 1080 The largest profits In to railroad Investments Invest investments Investments ments In past years have been made Inthe inthe In Inthe the securities of or reorganized roads It is entirely probable that the railroad reorganizations reorganizations lately consummated or now in progress will again prove that the really cheap securities are those of roads which have passed through the fire ol or capital readjustment The Western Vestern Pacific first mortgage o 6 S Sper per cent bond Issue Just offered by a Boston banking syndicate typifies these possibilities The issue Is anthe and ana the bonds are being offered at 90 90 or 18 lS- lS for tor the entire amount The bonds are a first mortgage ge on property having havinga a replacement value of 8 IncludIng Including including ing terminals worth approximately 17 and there Is about cash cashin in the company's The total of assets behind the 20 bonds is is therefore or five for one The Western Pacific reorganization was drastic but equitable to the old first mortgage bondholders Briefly BrierlY the old company compan with Its of or property had first mortgage bonds of or second mortgage bonds and capital stock or a total of ot The The he present company with of ot property has first mortgage bonds preferred stock 27 27 and common stock Western Pacific Is earning 2414 per mile as against interest charges of 1080 10 0 per mile Gross is at the rate of ot 85 0 per mile and Is showing a gradual and nd healthy health Increase