New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-02-24
THE MONEY MARKET.
MONDAY. Feb. oS-P. NJ.


The recent annual report Of the Illinois Central
Railroad Company of its business for the year
epde, December 81, 1879 makes a very favorable
comparison with the report for the year 1873. Inc
length of the roads operated the end Of 1879 was
20 92 miles greater than at the end OF 1873 but
while the gross earnings were increased Sl23'ZSV'
tho oneraiiuQ expenses were decreased SGO.|3o'
making the net earnings 81 1879 S1o4,olo
Greater than were the net earnings OF 1878. After
dednctiDg iaxes and rentals. the net earnings SHOW
an Increase OF 1851 500 The receipts from invest
ments principally from the Chicago ~. L"nls ana
NeT-Ogleans Railroad bonds. were $l02,32l IN
1870 against S6s.O40 in 1878; and the receipts
from the Land Office were Sl02, 572 against SGille
in 1875. Adding these items TO the account makes
the surplus, after payment of interest and . per
cent dividends on the stock zoos. go for 1879
against surplus of $746.2O4 for 1873. The re-
port says:
The branch line mentioned in the last report;
running southwest from Otto. has been eXtenueu
1ssSIoo miles. and another brapch. running "estely
IRON the first toward our nam me r., ~ nG LnoS
Graded and twelve miles of the track pave Oeeh
laid with iron rails; 1891 tons OF new steer an,
1884 tons new iron rails were laia OF the Ioau al9
branches last year. exclusive OF .ne nop ;e. Gftv
in the extension of the new brancn mes M
miles of track have been ballastcd Win stone ana
gravel OF the 800 miles from Chicago 70 Cair9
315 miles are laid with steel; II IS prnp'seu
10 complete the whole distance III sleeI az
an eariy.day. We now have 543 miles OF steel ran
north If the Ohio The extraordinary demand Tor
the grain and provisions of the Northwest at ngher
prices than of late years. has strengthened Tue re-
sources of the farmers This Is particularly EVIL
denced in the largely increased volume OF the Cul-
eag0 lumber traffic, the receipts last We II al lh1
point reaching the astonishing amount OF
j 4s1 600 900 feet 1t is probable that the popua-
ton of Illinois has never enjoyed SO large pros
perity rs during the past season.
"The shareholders will note that the later invest
nent in the Southern Line, made SINCE 1871 ~
81 900 600 Of first mortgage bonds, brought forward
at mar The opportunity of selling these bonds al
premium has been refused. The extension OF the
Southern Line to East Caro- has materially Ill
minished the time occupied by trains III crossing
fhe Ohio The time between New-Orlean and
East Cairo has been shortened five hours, am
trains are running with regularity and safety. FOR
the Southern Line 10 900 tons more OF steel falls
have been purchased and is proposed 10 reduce s
grades at the nOTtheru end thus tending 10 increase
ia capacty for bus Tess, and reduce IFS expenses.
sivty miles more have been ballasted, ana audi-
tional machine shops and other buildings erected
Various projects are moOted to secure share OF the
export business through the Southern ports. II IS
intended to have this the shortest through ne, pun
In perfect order as rapidly as II be done con
snperiofiiy of it's condition. and the fact that u Is
from 100 10 $50 miles more direct than any com
netting system of roads it is believed that 10 WILL
practically control the traffic between the Nofth-
west and the Gulf"
The following tables show the comparative re-
r,,l+. cf Tho hnsiu.ss nf 1878 and 1873: