The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-02

Surplus for the year................. $50, 4ss 10
The months OF January and July wore particularly
disastrous, and for both Of them The earnings
considerably below the average Several items which
are generally put down the construction account
are placed under the head OF operating expenses-a
much more satisfactory and honest method. Thus
under that head hnd that Is $50 tons OF steel rails
costing $70s 2s1, charged the account and also
five miles OF additional sido tracks Eight hundred
and iorty-th miles Of road laid With steel
rails, and the President consequently expects large
reduction IN the operating expenses during the cur
rent year. As compared with 1876 the earnings
for 1877 show decrease Of $444017 3ls per cont.
Operating expenses show decrease OF $61o,S69, or
6.3S per cent Net earnings show increase Of
$l66. S52 or a67 per cont. The report says
The year opened with In by the fail
OF theAshtabula Bridge or the ninetytwo killed in
that accident e'gnythree have been settled ior or
for. This absorbed $45asOo OF the earn
ings; other payments on s account ss, Of sh, =.
almost exactly one per cent upon the capital stock
The great strike occurred in the latter part Of July
DAYS. TINS company SO fortunate az TO have no
properly destroyed, and after frank discussion Of
the harmonious rslallons which had always existed
were restored. II IL impossible 70 estimate the
amount Of earnings absolutely lost ~ the strike Our
being In the situation at the same
time. the movement Of freight was TO some extent,
simply deferred, not positively lost Noiwithssand-
ing these adverse and exceptional circumstances tho
earned 3k per cent upon the capital stock. The
stockholders received however but per cent, as the
Ashtabua accident had 10 be met from current rsvo-
pue-requiring one per osnt-and the annual centrI-
button 10 the sinking fund, $3.50, 600, likewise paid
from current revenue. absorbed tho other half psr
cent
The year 1873 opens with promise OF much better
results.
The increase in gross earnings, nrst quarter,
$ooa' ouo
The decrease In expenses hrst quarter s.. 1858 900
Making an increase in earnings 1874, 800
The stock opened weak and immediately hogan 10
decline, falling low 61I; but as the
port was known and the excellent prospect for the
present year was seen II quickly recovered and ad-
vancsd to e2X and closed 1t 62I. The weakness IN
the market during tho morning was assisted by tho
fact that injunction was obtained against the
Wabash read the directors from paying the
interest upon the bonds which was due to-day. All
arrangements had been made for the payment, ana it
was not until the that tho Injunction
pb,aiped--csrtainly most IRRESPONSIBLE mode Of
tion The stock opened at 49, Tell TO IA and recovered
10 16k. The remainder Of tho market In entire
sympathy with Lake Shore falling and rising with IL.
OPENING PRICES.
The opening prices Of stocks AZ the Board to-day
were a. ioows:-Gold, l00x; Western Union, s0h !;
Lake Shore, ol; Michigan Central 6s<; Rock Island,
lo4k; New York Central, LOG; Delaware, Lackawanna
and western, SIX; Delaware and hudson Canal, 62k /;
Norris and Essex. Tx; Milwaukee and st. Paul, 49k
Milwaukee and ST. Paul preferred, 1917; Northwestern,
SIX; Northwestern preferred, 714 Pacific Mail, q I;
Erie, l2H; Ohio and Mississippi, Sh; WABASH. 10;
Union Pacific, 691<; c. c. and l. c., az; G.. G., @.
and l., 20; Harlem, l4sH; Chicago and Alton, 72h.
CLOSING QUOTATIONS.