Studies in securities

Bibliographic data

Monograph

Identifikator:: 1757542078

URN:: urn:nbn:de:zbw-retromon-134903

Document type:: Monograph

Title:: Studies in securities

Edition:: Revised

Place of publication:: New York

Publisher:: Jas. J. Oliphant & Co.

Year of publication:: 1927

Scope:: 81 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Northern Pacific Ry.

Collection:: Economics Books

JAS. H. OLIPHANT & CO. tillable; in every year since 1919 contract cancellations have re- turned more acreage to the company than sold, but with the storm. over settlers are reappearing in the country. Unification with Great Northern Ry., now proposed, is the reason- able outcome of joint ownership of Burlington which neither would give up. Savings calculated to result from common opera- tion of exceeding 27,000 miles of road are $10,000,000 or $2 on Northern Pacific shares. In addition an equity of $1 to $1.50 per share in Burlington earnings micht be taken. All ready for a renewal of empire-building the Northern Pacific Ry. since 1917 has equipped the 3,000-mile main line from Twin Cities to Pacific Coast with automatic signals for efficient opera- tion, adopted 100-pound rail as standard, and added 7% to loco- motive power. The 1926 earnings reaffirm the investment value of the stock, and the eventual correction of rate inadequacies together with a gradual recovery in farming, mining, and lum- ber promise eventually the 7% dividend and a price of par for the stock again. Pennsylvania R. R. Prestige of Pennsylvania R. R. was bred in the payment of divi- dends every year since 1847 and found refreshment last November when the rate was raised from $3 to $3.50 or to 7% on the $50 par shares. Just as a reduction to a $2 rate lasting from May, 1921 to November, 1922 displayed the adverse conditions then encountered, So the recent increase means the way is clear again, for excepting Six quarters at 7% between 1900 and 1921 $3 or 6% was the regu- lar distribution. Steadily if slowly the proportion of revenues taken by operating expenses has been brought under control and accordingly the net for dividends has been expanded, viz. : Share Earnings Operating Ratio 26.20 71.5% £25 78.4 ~ 80 80.2 50 81.9 25 82.6 30 86.1 Reducing the expense ratio two points with revenues exceeding $700,000,000 a year adds $1.40 to share earnings. Equity in Pennsylvania R. R. is different than it was ten or more years ago. The same amount of $499,266,000 stock had the residue [601

Access restriction

Copyright

fullscreen: Studies in securities

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation