New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-06-29
THIRD BoARD-2:3O p. NJ.

FRIDAY. June 2S-P. NJ
At a meeting of the directors of the Lake Shore
and Michigan Southern Railroad. held to-day,
dividend of per cent its capital stock, payable
August /, was declared out of the cOmpany's earn
InPs for the six months ending June 30. state
ment of the business for the six months partly
estimated was issued, which compares with the
statement of the business for the corresponding six
months of the preceding two years as follows:
Six @Gnli end June soiSes segss$ls
Operating expenses......- 4,59iOOO 462sll9 4'2921Co
Net earnings ....-- s2,4iOOOO sIS33,Ol7 s2,s7l2ls
Interest ON bonds rentals.
si1 months proportion OF
idSaG On guaranteed stk 100000 15l2sOO 100000
Balance. ....,........... 100000 sS2O2i7 s8GG,2l3
The statement of to-day says that
From the balance for 1873 there have been paid
5000 900 for a subscription for that amount OF the
stock of the Pttsburg and LAX Erie Railroad Com
pany, aud $4,000 for lands IN Chicago. Inc
former to and in the construction OF line from
rittshurg by way of Youngstown, running over the
Mahoning Coal Railroad leased by TINS companyi
and reaching the cOmpanys line at AshtaDula ana
the water front and docks at Ashtabula HarDor'
This enterprise will, it is believed, contribute
largely to this company's traffic at remuneratlye
rates sufficiently to amply compensate for
the investment. The land at ChlcagO mas
long been considered necessary for the con-
ven,ent and economical transaction of the com
pany's business Some wears ago, NEGOTIATIONS ioI
its purchase at $l5OOOO were carried on. Beng
IN market at the price now paid and other parties
being DESTROYS to purchase ana improve, so rs 10
practically place it ont If the reach OF the company
IN the iutgrc, 10 was taken.
About five thousand tons Of steel rails have been
laid during the six months, and the excess OF cost
old rails taken up has been charged 10 oPera'-
ing expenses.
''During the six months, $40, 900 was paid on ac-
count of the AShtabula accident-al claims ior
which, except five or six, are now disposed OF.
The road and property of the company nave Geeh
fully maintained at its standard condition. mere
- d
IN that nature
Deducting the expenditures named from the re-
ported balance above, the result for the SIX
months OF 1875 is as follows:
FaTcDi. on aS mi Of Ashtabua accd,nt 10000
subscription 20 stock Of rusbmg aud Lake ,oo,oo
Iric Railroad Company --9 .,10
Dividend OF per cent Oh capital 9iG9Jsi4GGj
Surplus.
The foregoing statements and comparisons VIII re-
main incomplete If not supplemented by quotations
from previous statements. In rendering a state
mcnt FOR the corresponding six months OF is"
July 3. 1871 the company said: By reason OF the
destruction of Ashtabula bridge and the heavy
snow storms Of January aud February, traffic dur
ing those two months was nearly SUSPENDED. The
road machinery and property have been iuliy mann
tanned IN all respects, and are ~ tII>-ca~s condl-
;iou.' In the annual report OF inc conpahE i9r lio
year ended December 81. 1871 but dated NAY /,
ISIS. on page IL, Is found the following; Inc
wear of ISIS opens with promise of much better Ie-
suits. The increase in gross earnings, first quarter
Is Sj3l 500; the decrease III expense. INST quarter
j. ~2ji' ~ making an increase IN net earnings oI
S-Ni 500
As the total increase in net earnings for the six
months shown hy the foregoing statement Is only
SJS3 1866 IL follow, that for the last three months
there has been a dccreasc-as compared with 1871
OF S22G.GJi.
HE speculation in stocks during The week ending
today mas been varied aud irregular. The to'1l oi
Transactions ha, been 1913 shares, against eo3,-
2J2 shares aud gJS $50 shares Tor the preceding
two weeks. A ruic, prices - the close are lower
than they were a week ago. the decline ranging
f.1m % PER cent on Delaware Lacha"anna aud
Western to3ii per cent on ONO AMI MISSISSIPPI pre-
Delaware and Hudson and Chicago, Burlington aud
Quincy each Il Fort Wayne. % Morris and Es,eN;
= Al lantIc aud Pacific Telegraph and f"Clhg 3!au
each Northwest CON mon, ! =; Western tuioh
and wabash each i1l; ~ Paul common, ! =; North-
west preferred. = Pitt-burg ~ Central OF New
jersey ~ aud -. Paul preferred. 3's PER cent.