New-York tribune., 1879-01-15
n CALI O'CLOCK p. "
|, CALL-2:3O O'CLOCK p. n.
THIRD


-O'' 'O''' - 800 62o .227 Do LII
TUESDAY. Jan. 14-P.
The Philadelphia papers of to-day furnish us With
the full report of the Reading Railroad Company
for the year ended November 30, 1878. Th,
salient points of the report are as follows
The following were the gross receipts and er
penses of the railroad company, compared with
those OF the previous year.
ga "a sT@ sl6ioo5O Dec sssea
s @ s. Is S 'ssS ssss
Ga aG iG2l mlscesas aGns 1906 S55 SS55 Inc i
TOTAL gross earning 9IOsl Dec. seo&8ll
Gross expenses....... 776l,69j I3l03oo Dec. 4SASI
Net earninss...... s4,39l,2l7 g. 22O227 Dec. s7OM
The result of the combined business of the Read.
ing Railroad and the Coal and Iron Company for
1873 was follows:
Profits Of Railroad Company S42202H
Profits Of steam colliers -S=iS
Tot1I ........... s44;2es?
Dcpreciatlon in vaue Of materials.
drawbacks on traffic, and losses On ,,ecco,
Loss bY sehGy XII Canal ..... 9sf53
Loss Of the Goa aud iryn Company. 7j2o4o ,o.,,
Balance Of profits. - 233Sn
Full interest on the Railroad cOmpanys ooo
Full interest on the Coal and Iron Com
pany o6G9l6 oo,-,
Deduct interest deferred payable in scrip. l7g6Os'
Cash deficiency sIO24,sl3
From the foregoing statement we have omitted
from the profits item: Balance of sinking fund
consolidated mortgage loan not used, non-credlted
back Sl99.3Gi" which is included in the COM
panys statement of profits for the year. If this
item was included, the deficiency would be S2,50l,.
OIL and the " cash deficiency would he Ss24,95O.
The President reviews the history of the late
combination, and admits that it failed In pro-
ducing the beneficial results that were anticipated
partly in consequence OF the refusal of the Le-
high Valley interests to ratify the agreement of all
other parties to extend the term of the association
over the Winter, but principally on account of the
very general belief that the Lehgh Valley Interests
would act Independently after the expiration OF tho
year. belief which was converted into certainty
by the neglect or refusal of any of the shippers OF
the Lehigh Valley Railroad, including the Lehigh
Valley Coal Company, to attend or bc represented
at a meeting held in New-Y0rk on December q
last to consider the question of future association,
and at which delegates from all other interestsn
the trade were present"
Mr.. Gowen SAYS: at is no exagceration to say
that the direct loss to the trade by the TefusalOt
the Lehigh Valley interests to ratfy the agreemen'
of their representative TO continue the association
through the Winter has been at least S3OOOOOo
of which large amount each party 10 the as
sociatlon probably lost in the proportion
of its quota of tonnage" In relation 70
future combinations, the president says: IN
open competition for the market, with the aG'
mitted excellence and great variety Of Schuykh
coal and no restrictions imposed upon productlon'
the managers have no fear of the ability OF ths
company to meet all of its cash fixed charges Dub
they cannot contemplate without shudder lne
prospect of again tying their hands by agreemsenSS
such IA those made in 1876 and 1875, under Wm.h
il was IN the power of one interest 10 render apol
tive any attempt 10 secure increased pTohtS aIe
they would be guilty of gross mismanagemeni u
they consented To any further restilctoh Oh IA
tOn that was not accompanied Dy piacIicdI ,nv. %D
etfectual guarantees that the reduced Gutlus
should yield at least as great pT"ht as tnc r r
creased quantity which could be mined ana I"n''
ported in open competition . .ru
The stock market to-day, after opening AZ s Iu"
figures during the earlier business exhibited s SOLE
hesitation, resulting IN fractional ueCiIuo % ms.
dull market. At this time Michigan CeiI CenIIa' R Rnt
particularly heavy aud fell from f''4 10 2rrss.
after midday more confident tone iOlhu rs eAw
sion in a rcIewal of buyingaDd prices t"'eEnve me-
in many instances closing even nDa and
figures OF last night Delawarc' Nv tbe late
Western was particularly prominent Ill ,S tu aTTs
advance, rising from 46 10 --4ssSS+4sS
Morris and Essex followed at U4G"to 70
aud Delaware and Hudson advanced .a;ny
II. The damaging report of the hesdSar, hedSSS,
Company without effect on these stocks nr,s
because it is expected that the forthcoming ter ieiy
of the two Delawarcs will be of different Nan
as they have mined greater tonnage ~ le,o M csnts
in 1877. and received prices averaging 80 nst-
more than those of 1877. The Northwes'efns,is, H,is,
day were hrst lower, but IN huM The
late advance The ST. Pauls also ,y,,s, wty
higher but the preferred closed only
from ITS early decline to 791 l,. bat fG'sS an sSsS
70ii "F~ Frc ''I%' ON large business was bare;
steady at 23asa23sa23l2. Illinois Seans, iItcp
was only steady at sli2asl7s, Chicago ap% 1Ss. A Il.
at s3ll and Wabash strong, rising 10 Z-De az
Lous, Kansas City and Northern preferred Wsis stock
tive, and advanced 10 $3.50 81 =, the common I'll
sell :ng at SllGS3s Western Union was dull, s
ing at 9jl "a 957s. and Pacific Mail a. lO2e aI
stocks loaned at from 3G4 per cent for carr, carr, ard
with the exception of Delaware. Lackawannai ~.
Western, Whch was Hat. rne market clOsed s""N'
KANGE rHR srocK NAEkft
AsrepoTted 6y ne cold and stock TeleTdPh to"Pag -.
--Actual sales.--7Closng Bids Bid sol