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Show SOUTHERN PACIFIC PROSPERITY. The Southern Pacific was not. a dividend payer when Harriman took hold of the road. That genius of finance and that builder of railroads spent millions to bring" the Southern Pacific up to its present pres-ent standard, and during the period of reconstruction he was severely criticised by men of the stamp of Keene who impatiently demanded dividend1?. Since the posting of the first disbursement, Southern Pacific ha3 jieldcd rich returns. An eastern house predicts an increase in the dividend rate for 1910; but it is not generally looked for at the quarterly declaration four weeks from this time. Financing by a stock issue so as to give subscription rights is only a possibility. Southern Pacific is engaged in considerable construction work, the greatest being the building of a 1,537-mile' system in Mexico. Over half this new Mexican mileage, however, was comDleted at June 30, 1909, and on the same date the Southern Pacific had over $43,000,000 of cash, demand loans, and time deposits.. de-posits.. In adition, its surplus earnings after dividends are now at the rate of $13,000,000 per annum, giving a total of about $56,000,000 of treasury cash for the current fiscal year. |