New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-11
GAINS IN RAILROAD EARNINGS.

,
Only five railroads have yet reported their gross
earnings for the first week of the new year, but
the five companies which have reported cover q
territory extending from MontaulS Point on Long
Island to Denver City in Colorado. They give
aggregate gross earnings for the week of this
year Of $500, 6l5 against S26S 260 for the week
Of 1874 gain Of SAL 1865 or ga per cent. The
New-York Central and Hudsons corrected re-
port Of its gross earnings for the month OF De-
ccmber, 1887, shows that the actual was $780,
greater than the estimate published December 81.
The Philadelphia and Reading annual report
is yet incomplete in all its Details but the synopsis
of it submitted at yesterdays annual meeting OF
the stockholders shows that its net earnings for
the year ended November 80, 1887, were Sl2,-
43O,O54. All the annual fixed charges under the
organization plan, which is an accomplished fact,
will In the future amount only to s7,002,l62 AT
the close of the year November 80, 1880 the
companies had exclusive of funded debt and
1928 900 of unadjusted liabilities: Cash $500
44I bills receivable absolutely good sl,O94 6:
moneys due for coal delivered since paid
SO, ,S47 coal hand mined and paid for
$3l 65ol; freghts and tolls accounts due by
connecting railroads, etc, 81, !49 soy: Iotal,
SS84l,ST6. There is however, Sl,4S0, 900 due to
the DreXel-MOrgan syndicate, for interest paid
by them on the general mortgage, and s022,rIO
was due to holders Oh the Sterling scrip The
plan provides for the issue of 81 G90U00 OF general
mortgage bonds to cover this indebtedness.
TIE DEMAND FOR RAILROAD MORTGAGES.
The Stock Exchange markets to-day presented
the same general features as they dld yesterday
"a large and growing demand for railroad mort
cages and an inactive speculation In shares ut
hardening values. The transactions IN stocks
(2I5,l35 shares) were nearly 10000 shares less
than yesterdays business. The diversity OF 0pln-
ions among professional traders more than
usually marked: the leaoding " bear authorities
claimed that the last two days advances were
principally due TO the covering OF their too general
following, forgetful that three weekly organs last
Sunday had printed that the short interest
was all closed up In the early dealings de.
preston in Louisville and Nashville cast cloud
the general market the price OF that stock fell
from GA Is to 81 IA, principally on sales for
foreign account. PROFESSIONALLY the conservative
action OF the directors yesterday IN announcing
dividend Of only per cent IN stock. subject
to "a ratification of the stockholders In place OF
one of or per cent TO represent earnings ex-
pended in betterments in response TO the petition
OF foreign stockholders was disappointment TO
the petitioners and they were free sellers OF the
stock to-day. They probably will buy il all back
at higher figures during the current MONTH There
was no news given out concerning the heading
strike: but it was recognized that this and the
next month the duh months of the year in
the anthracite coal trade, and that the working
companies capable to IN ct all demands with
out working up to their full opacity. Reading
sold up to sc So the covering Of shorts IT
closed firm at 66 lS on good buying against SO
yesterday. Union Pacific developed marked
strength with comparatively small transactions
Norfolk and Western was quiet in the absence Of Of
fcrings at quotations it sold at 34a44 St. Paul
led the market in point OF activity and rose from
sc "a to n l2a77 IA. The general market
closed quiet and strong at little under the highest
prices. go.
BONDS ACTIVE AND IN DEMAND,
Governments were inactive and strong with
the bids for the As advanced ia per cent An
nexed are the closing quotations: