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A RECORD BREAKER:
Six Solid Carloads Sold and Shipped in 35 Days,
Besides Other Shipments.
SHIPPED APRIL 29TH.
This is the
Leaders in the
THREE SOLID CAR .LOADS SHIPPED 2D JULY, 1904.
For Purity, Strength and Flavor They Have No Equal.
Up by the
Bold to Say,
(Continued from First Page.)
Hudson. At Albany the next stage of
the journey is begun, a trip over tho
magnificent New York Central Railway,
on the swiftset and most elegantly ^ap?
pointed trains In tho world, offering tho
traveler every luxury possible on wheels.
The railway journey takes tho tourist
across'the State to Clayton, on tho St.
Lawrence, near the head of* the lake,
Clayton Is the station nearest the Thous?
and islands, the destination of every pre?
tentious summer tourist In tho Northeast?
ern States. Tho Islands havo been well
named, for In no other way could their
number and variety bo adequately stated.
Of every ?Is*o, theso islands dot the
stately stream for many miles, affording
a wealth and variety of scenery uneciualed
In the same area anywhere. Naturo., has
-strewed Its treasures with prodigality'
In the Thousand Islands of tho St. Law?
rence. - Islea of green dot tho stream so
thickly that a boat trip through them is
an'ever-changing vista that delights tho
eyo and soothes the senses and releases
tbo prisoned fancy of the tourist, until ho
Is ready,to declaro It Elysium. Among
tho "-Islands everywhere aro ? Uie finest
. hotels'", summer -homes, and Improved
spots of eart^ - to be found anywhere,
Ono might linger hero? for months ano
bo content, ,
Down the St. Lawrence.
But tho itinerary of the Tee-Deo outing
has In storo too many other pleasures,
Tho traveler boards a steamer for tliQ
long Journey down the St. Lawrence, as
it broadeiw towards Its mouth, pusslng
through the. famous rapid? as tho stream
falls to the level of the ocean, and on?
ward to Montreal, one of tho greatest
cities of the Dominion,. Krom Montreal
ihe tourists may go by olthor boat or
train .to Abenakis Springs, the ultima
thule pf this trip. This Canadian resort
has an.ideal summer clliiiu.to and delight?
ful, health-giving waters. ,It affords the
tired1 tourist tho rest ho welcomes and
provides all the recreation-, and enter?
tainment one could desiro. The pi'ls*-}
winners are given two wekes at the
springs, and this time will prove all too
When the time Is up'the trl?'o? conso?
lation prize winners will take up the
return journey, going viti tho New York
Central' Railway over tho Unust road
hod and In tho most luxurious coaches in
?thla-country. The-. Central is 'famous fol?
lia spood record, |ts flyer, tlio Hmplro
'Express, boin^ tho fiitest In the world.
Houblo trucks, well .'ballasted,'afford safe
und.easy travel. Onward'the tourists go
amid mountain and glen, hy atroam und
crag, to tho Adirondack?, tho gem .of
mountain 'scenery in Oils country. Tho
entire region is dotted ; with elegant ho?
tels-n'nd summer iesortSi und ono might
.?pepd- <ho ent|i*o summer Cere -without
seeing what was to.he seen and enjoyed.
?Tho lake and .mountain ?'oenery of tha
Adirondack region is a. dream of beauty
to delight the artist and to charm all
who behold it.
The Prize Trips.
The fourteen prize trips are themaelvca
err.ihently deserving of the spirited and
splendid struggle being made for tbem by
the numerous contestants. They are still
anybody's, tho contest being too young
to nay with any certainly who will and
will not Ve tlio winners, Tho, holding
back of voting certificates, which means
hundreds of votes, adds tho element of
greatest uncertainty, for when these are
thrown Into the scale It may bo that
somo of those far back among the run?
ners may forge io the front beyond hope
of berng overtaken.
The trips for the winners of the prizes
in the contest are all delightful in every
particular, and It is largely a matter ot
individual preference which Is the most
desirable. *For these wro llko the surg?
ing of old e-eean and tho gayetles of tho
beach resorts or tho more dignified at?
mosphere of the quloler beach hotels,
?there Is ampio choice. For. those, who
prefer high altitudes and communion with
rugged naturo in all? its grandeur, there
are sufficient placos from which to choose.
Indeed, the winners themselves will be em?
barrassed In malting a choice. Any ? of
t)io fourteen will make.a charming placo
at whhich to spend a vacation.
Among tho mountain resorts the Toxa?
way hotels, if not bo well known In this
city, are bettor known throughout tho
South than tho others, which are farni\lar
to Vlrglnlann. These hotels, five in num?
ber, aro situated In tho mountains of
Western North Carolina, at tho higheat
altitudes to be found east of the Rockies'"
,; '-' The Sapphire Country.
5 Tho section has become known ah "The
Sapphire Country," and very appropriate?
ly so, for the blue skies and tho bluer
mountains givo this charming tingo to
all tho landscape, and oven the cloar
mountain streams and brooks reflect the
prevailing huo, mlworlng tlio soft azure
of the summer skies and the dooper blue
of tho towering mountains, Thero aro
five of thoso hotols, all owned and ????
rated by .tho samo company, Thoy aro
The Toxaway, The Franklin, Tho I,.odge,
Falrfleld Jnn and Sapphire,Inn. AU of
theso nro now and modem hotols equip?
ped with everything necessary for the
comfqrt of guests, and affording a varie?
ty of entertainments and diversions 3uf-,|
fiolent l'or all ' taste?... The hotels are
feituated ?ear Brevard. N. C? In tho very
heart of a wild and beautiful refflon,
whloh might truly; bo called the Alps of
America ? Those who choose tho Toxa?
way system may. have tholr..oholeo pi tho
flvo botola or may divide their timo
among them all. The. railway Journey
via tlio eiouthern Railway la.perhaps tho
longest to be had In any of the trips.
Tho train servlco is elegant and satisfy?
ing In every way, and tha Journey lies
through a rogioii famed for, Its scenio
grandeur and delightful climate?
, The Palatial Chamberlir..
Tho Ohanrberlln Hotel, at Old Point,
represents tho'acme ot modern hotel com- I
fort and even luxury. Tho majestic struc?
ture, situated on the. government reserva?
tion at Fort Monroe, is palatial in its
construction, equipment and furnishing,
nnd elegant In its service. The visitor
has the magnificent, water front on
Hampton Roads with delightful sea bath?
ing, and many Interesting diversions nnd
sights well worth seeing. Tbfe Point Is
the rendez.-ous of naval vessels, and
hardly a day passes without ono or moro
there. Foreign vessels, too, are fre?
quently seen .off the piers and on their
way to Newport News. Fort Monroe, tho
strongest fortification on tho Atlantic
coast, la just across tho street from
the hotel. This, with its artillery garri?
son, dross parades dally and the presence
of so many army officers, nearly all of
vijiom stop at the Chamberlln, makes tho
placo socially as delightful as It is ele?
gant In service .and desirable in loca?
The Princess Anne.
Not far from old Point, but ,.on't?.e vergo
of the turbulent Atlantic Itself, with the
finest bathing beach on the coast, is A'ir?
ginla Beach, with its not less famous
Princess Anne Hotel. This elegant hos?
telry is one of the best on tho const, and
is maintained up to tho highest stand?
ard. No ocean resort in tho Sou'h is more
popular. Amusorfients In great variety;
are afforded, ,suoh as dancing, golf, boat?
ing, bathing, fishing, Indoor'and outdoor
games and ' sport and social pleasures.
The management will make special ef?
forts to entertain the Toe-Dee w.r.ners
who choose this hotel.
The New Mecklenburg.
At Chase City Is the ele?ant new
Mecklenburg Hotel, an all-tho-yein?'
around resort, ana a hostelry that has al?
ready won a name for Itself as a delight?
ful and elegant ono In every respect. Un?
der the management of Mr. Hundley tho
Mecklenburg Is sustaining fully Its high
reputation. The place Itsolf ,1? restful
and delightful, and the wators are known
widely for their qualities. Drlvlns, music,
dancing, outings of various sort?, games
and entertainments of ovory kind afford
Virginia's Atlantic City.
For those who prefer gayety and crowds
and constant entertainment and diver?
sion, together with oxcallont :?crv<ve,
Ocean View offers the best prospeqw of,
any Southern resort. The Oooa.i View
Hotel Is widely known for He comfort
and satisfactory service, and extra effort?
will be made tp make the slay of tho
tourists there delightful, .They., is a?sum
mer theatre, all the gamas and amase?
monts of the great ocean resorts, ever
changing crowds, fine baUiuiej, ilshliig mid
boating?everything to j make the timo
pleasant, Kxourslons may bo made to
neighboring resort? by. trolloy and by
.?.,-' At Jefferson Park.
Tho Jeffenion Park I.otol.'iooa.efl two
miles from Charlottesvllle, Just unJ:r the
shadow of tlui Ulna Ridge and In full
view of Montleejlo, the homo of, Jeffoi?-.
son, Is reachetl by trolley lino fi'ifn Char
lottojsvlllo or a pleasant drive. Conducted
by Mrs. F, T. Boykln, in tho most com
fortablo and homc-liko manner, the Jef?
ferson Park is a favorite resort o? Rich?
mond people, many of whom sjiond their
vacations there. Broad verandas, shaded
lawns, cool, comfortable rooms and ele-*
gant sen-ice make the Jefferson Park a
charmingf" summer ?spot. Tho - evenings'
are always delightfully cool, -
Mount Eliot Springs.
For those who caro to go further from
the mnddlng crowd and up to the highest
altitudes.to bo found-in tho State,"Mount
Eliot Springs offers just the spoi. Sit?
uated on-North Mountain, the very sum?
mit of the Alleghanles, it is reached after
a delightful ride over the Chesapeake ana
Ohio Railway. The springs aro at the
base of Eliot's Knob, tho lilg'iost moun?
tain in the State, to the summit of which
Is a pleasant day's outing. Tin hole! Is
new and elegant, the climate high, dry
and delightful and" tho company cha;:n
ing. Under the proprietorship nf Mr. 11.
G*. Elohelberger, the springs have won an
excellent reputation. .There is a varle.y
of mineral waters for the guests to be
found ut no other A'irglnla resort. The
lover of mountain resorts will l?nd Mouii*;
Eliot tho most desirable.
The' competition for the prizes continues
lively, Indeed, wonderful, far excelling m
interest that of last year. The voto cast al-,
ready is far ahead of last year and prom?
ises to bo the largest over secured in
such a competition. But tho standing of
tho various contestants speak3 for itself.
It is given on the first page.
SPECIAL EXCURSION TO
LYNCHBURG AND ROANOKE,
TUESDAY, JULY 12TH,
VIA NORFOLK AND WESTERN RWY.
THREE DAYS IN THE MOUNTAINS.
Special fast train will loavo Richmond
Byrd Street Station, Tuosday, Jury 1.11h,
for Lynchburg and Roanoljo, slopping
only at Bedford, Montvale and Bluu
Ridge, In both directions, ?Lynchburff
and return $2.00, Roanoke and return
??3,00, Returning, special train "Svili leave
Roanoke Friday, July 15th, at 12:50 nooi,
arriving Richmond 6:50 P. M. For tickets
and further information, apply to tic?oc
agent, Byrd Street Station, or at com?
pany's "Office,- 83S East Main Street, Jonn
E, Wagner, City Passenger Agon..
C. II. BOSLEY.
District Passenger Agent.
ATLANTIC COAST LINE
ROUND'??e, TRIP. '
Qopd going and returning on regular
trains, Commencing Sunday, "May 16th,
will do well to call on E,. W, EVANS i&
CO., No. 1313 East Cary Street, before
buying olsowhere, as thoy have on hand
a fino lot of fresh stock, which they will
*ell very cheap lo movo It r-uU-kly.
O J*. ? ?J? 0> H=L X .A..
Bears the ^/) ?|?? ??11?* YotJ ?-*'8 Al*va*'8 BOUfiht
(Continued from First Page')
as of the respective dates named:
Juno 80, 1901.......$101.094,148.73
Juno 30. 1903. 105,1)39,287.31
Increase in two years........$ 3,345,138.38
The funds provided to make improve?
ments during this period were: _
From $10,000,000 Collateral Trust
Loan ot July 1,1901.?1,000,000
From Surplus Earnings, 2 years.. 1,516,263
Total to Jun? 80, 1903/....?2,516,263
Expended to June 30, 1903;..... 3,345,139
This excess In expenditure for improve?
ments was no doubt allowed in anticipa?
tion erf ?1,500,000 of tho first mortgage
four per cent, bonds available for im?
provements July 1, 1903, the proceeds of
which made good the deficiency, and left
something for additional Improvements
after July 1, 1903, In addition to surplue
earnings whioh had .averaged more than
?750,000 per annum, and might reasona?
bly be expected to Increase. with the
steady Increase In gross earnings.
The outlook was certainly encouraging
to the stockholder^ on July 1, 1903, with
nearly $3,500,000 of Improvements and
additional equipment paid for In two years,
nnd a fair prospect for ?1,000,000 surplus
for tho ensuing year, with only ?1,500,000
additional bonds Issued at four per cent.
Tho only uncertainty at that time was
tho cost of the Birmingham Extension,
work on which was in progress and for
whloh ?6,000,000 bonds had been sub?
scribed at 86, yielding ?5,100,000 In money,
with which to purchase tho East & West
Railroad, and build about 90 miles of new
rood, which done the Seaboard would
own ana operate something over 2O0
miles west of Atlanta In addition to Its
2,607 miles of old line, the earnings from
which old lines Mr. Barr estimated would
bo Lnoreased ?1,250,000 per annum as a
result of ""the extension to Birmingham.
It Is true that no provision had boon
mado for tho ono million dollars' worth
of additional equipment, required for the
extension, and tho Seaboard must pro?
vide it, but equipment purchased 'under
car trusts requires only a moderate out.
lay for tho first payment, and, when used
on tho extension, It should earn the money
for the deferred payments,
The management of the Seaboard does
not seem to have been Batlsfled ta paral,
lei the Southern Railway between Atlanta
and Birmingham with a lino- of sim?
ilar oharctorlstlcs and llko cost.
It wanted something/better, and as a
result it will have to provide severa) mil*
lions of dollars to complete the extension
out of tl.* treasury of the company, In
addition to tho proceeds of the bonds ?e?
cured by mortgage' on that part of. Its
lino. It was largely for this purpose that
the ?2,500,000 loan, was effected In De?
cember, 1903, and It would seem that even
that would not suffice, arici hence the ad?
ditional loan on March it vm, malting a
total of 15,000,000 to complete the exten?
sion, furnish equipment for It, and pro?
vide for certain other requirements. '
Tho need of money to complete the Bir?
mingham Extension may have been Im?
perative, and It may have been -neces?
sary to Issue $12,500,000 of treasury stock
as a bonus to secure $0,000,000 for that
purpose, but when tlio management In?
sists on further'large expenditures for Im?
provements the stockholders naturally de?
mand postponement until tho benefits of
thto extension, made at great sacrifice,
can be realized," and the net earnings of
the system justify further expenditures.
The syndicate says that, the Soaboard
needs at least $5,000,000 more money
right away to reduce grades and curva?
ture, to lay heavier rails and increase
Where Is tho end of this, thinks the
stockholder; $5,000,000 last March, another
$5,000,000 In July, ahd how much more in
the future If we surrender enough stock
to give the syndlcuto permanent control
of the property? The stockholder would
naturally ask whether the condition of
tho Seaboard, as compared with othor
Southern roads, Its relative equipment
and relativo earnings per mile, was such
as to Justify such inordinate demands
It Is not easy to ascertain the relative
condition of roadbed, track and structures,
or tho ch?rcterlstics of different roads as
regards alignment und grades, but thoy
may bo inferred from results of operation,
as, for Instance, tho Seaboard has shown
Its ability to compote for the Florida travel
with the Atlantic Coast Lino and South?
ern Railways, making ns fast, or faster
timo than either of tho other two sys?
tems. To spy therefore that tho roadbed
and track botween Richmond und Jack?
sonville aro not siUtablo for houvy pas
songor trains ut high speeds would be to
churgo the management with reckless dis?
regard of tho sufety of passengers. Fur?
thermore, the ?eports show that tho Sea?
board can and'docs compete successfully
with tho Atlantic Count Line und tho
Southern in the freight buslnes, as evi?
denced by Its largely Increased frloght
earnings; Its gross ournlngs pet* mile
from freight are the ?amo as the Atlantlo
Coast Line's and Its average freight
trains are heavier. -Whero, then, does It
oppoar that the Seaboard Is at so great a
disadvantage In Its competition with other
systems as to require largo expenditures
for Improvement In grados und curvature?
A comparison of equipment shows no
disadvantage on tho part of the Seaboard,
for It has as many locomotives and curs
in proportion to Its trafilo us the Atlantic
?CoaBt "Line or tho Southern Railway.
For a period of eleven months, from
July let, 1003 to May 31st, 10O4, the rela?
tivo gross and not earnings of tho Sea?
board and Atluntla Coast Lino, par mtl.)
of rond oporatod, wero as.follow?;
? arof-s Net Ratio, of Exp,
"Burnings Earnings to Earnings
S. A. L.$?1.105 $1,105 76.4 p. c.
A C L,,.,., i,m , 1.7K1 625*p. c.
Excess of gross earnings on
A, 0. It.$13 per mile.
Excess of net earnings an
A. C. It.,. 69.8 per mile.
Such results ero well calculated to dls
tiU'U the equanimity of the stockholders
of tiro Seaboard, and might unsettle tholr
minds to the extent Of making them bo-,
liovothatln giving away their shares they :
would ? unter no loss.
Syndicates that provide money to build
new railways aro accustomed to get all
tho stock as a. bonus for negotiating the
bonds, but they are apt to forget that
the stock of the older roads has an in?
trinsic value based upon earning capacity
acquired by the development of resources,:
which are dormant on newly construOted?
roads. The present stock of the Seab?rd;
represents value which has been long ac?
cumulating, and it cannot properly, be
treated as a more "make weight" m a
financial deal, a thing of no present, and
of doubtful prospective value. The earn?
ing capacity of tho Seaboard Air Lino
Railway bolng as great per" mllo as that
of tho Atlantic Coast Line Railway, why,
should not careful and conservative man?
agement make Its intrinsic value appar-;
ont, as has already been done on the
Atlantic Coast Line Railway:
It would look as If Messrs. Ryan, Blair
and Coolldge had expected the Executive
Committee, or at least the Board of DI-?
rectors, to nccopt tholr (proposition to
make another loan without reference of It
to the stockholders, and It Is therefore
to bo presumed that tho stockholders have
heretofore delegated to the Board of Di?
rectors, and perhaps to the Esecutiva
Commltteo, full powor to act in the premi?
If the voting trust Is by the terms of
tho agreement effective for an unexplred
time, the syndicate (as representatives of
the voting trust) might control any
meeting of stockholders that may be
held, but to use its power In defiance of
the wishes of? the owners of the stock
would bo a high handed proceeding and' it
could not muke binding on an individual
stockholder any proposition that he should
surrender his stock or any part of It.
Vfhat the syndicate wants therefore is
that the Board of Directors should en?
dorso their proposition and recommend
to tho stockholders tho surrender of a
part of tholr stock as a means of assur?
ing some value to their holdings. In
other'words, that tho directors shall say
to the stockholders: Unless you surrender
a part of your stook to eoouro this now
loon all of It will probably bocomo value-i
To this tho Intelligent stockholder would
naturally roply: What assurance can you
give of any value to the stock under a
management that shows such large and
increasing operating expenses? Lot the
management show ability to handle tho
property as It is and establish the value
of ?Is present securities, and there will
be time enough hereafter to talk about
Improvements, the necessity of which has
not boon and may never bo demonstrated
? TEN DAYS'. TRIP,
TUESDAY, JULY 1?TH,
l'aro ?? include? transportation, hoard,
etc. For particulars apply to Mrs. Anna
F, Rahm, Ne. ii?3 East Franklin; JUiM
Buttle Eilyson, No, 10 East Franklla,