OCR Text |
Show Few announcements of the year here have i been fraught with more importance than the news made public this week that on October 12, at the annual meeting to be held in Salt Lake of the stockholders of the Oregon Short Line railroad rail-road company, the capital stock of that corporation corpora-tion will be increased from fifty to one hundred million dollars. I It is one of the greatest financial moves ever made by an inter-mountain road and its chief significance sig-nificance lies in the fact that the greater portion por-tion of the money from the increased capitalization capitaliza-tion will go into improvements, extensions and improved equipment for the O. S. L. and from which Utah must benefit directly and in a very large measure. While it has been known for years that the capitalization of the line was un- I usually small, yet its holdings In other compan ies have been many times Its authorized capital and from an earning capacity of about six million mil-lion dollars a year it has jumped into the twenty million class in practically the past twelve years. The increased capitalization is deemed by the directors necessary to take care of the vast im provements and the numerous extensions made jj the last few years by the road and to further ex tend proposed branches into new agriculture regions re-gions In the inter-mountain states and at the same time, though Its subsldary companies, push prospective pros-pective extensions in new mining districts. I I |