New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-07-24
EARNINGS OF THE NORTHERN PACIFIC.

NlOnuhY, July <o-p. W.
The Northern Pacific Railroads weekly returns
Of gross earnings for several months have at
tractcd attention because of the large gains which
they have shown, without, however, having much
effect on the market values Of it's stocks because
the public and operators generally had become
terrorized by the continuous minute fusiladc OF
bear reports and rumors. Now comes the
Oregon Short Line with its full statements for
the month Of May and for the five months ended
on May 81. The statement shows gain in net
earnings on May, 1887, Of 1872 per cent and a
gain for the five months Of LAG per cent The
net earnings for last May were sl14O00 the
companys first charges are s74, 655 per month.
For the last five months the net earnings were
$500, 900 against first charges Of s375.275. For
the eleven months ended May 81, the net earnings
exceed $4,000 1t is expected that the net
earnings for June will be fully equal to
those of May; if so, the net for
twelve months ended June 80 will be $685., 900
or $4,000 in excess of first charges. In 1887
the deficit of earnings against first charges
s2s4,4O6 which had to be made good by the
Union Pacific and reduced that company's net
earnings by just that sum. Hereafter il is prob
able that the Short Line will be source of in
come, besides the business it brings TO IN, to the
Union Pacific instead of tax upon its net earn
ings. The Oregon Short Line, connecting with
the Oregon Railway and Navigation Co., and
dividing the latter's business with the Northern
Pacific, is the most important branch of tho
Union Pacific system. 1t really is the head Of
a system by itself There will be during the
next year Or two great deal Of Gon'truction in
utafy TO the Short Line and the Oregon Railway
and Navigation Co.. all OF which viii, of course,
Snort Line and Of the Un Pacific and ere
is little question that the Oregon Short Line
stock in the near future will be dividend
the stock It is that section of the country
which now is making the most rapid develop
ments.
DULNESS IN THE MARKETS.
The stock markets to-day were dull but more
active trading among the board members rolled
the transactions up to 202,o 600 shares. The
feature Of tAe market wns hardening OF values al
every attempt to make purchases. 1t either was
advancing priccs-and there was enough of the
spasms TO close prices about per cent higher than
Saturdays closing. The Improvements were
general to the whole list, but there were
small volume of business The active stocks
were: Delaware, Lac<awanra and Western which
western with a gain Of IS, st. Paul with a
gain Of 7-s, New-York and New-England with
gain Of 1, Reading will gain Of IA Richmond
and West Point with a gaiu of 3-s, and Union
lines ruled strong with advances of 1-4al per
cent with small transactions. Western Union was
JUL at ~ LA ~ TX. Inc agreement 10 advance
cable rates to 25 cents word is complete
and only awaits the adjustment Of additional
charges for land TRANSMISSION, 10 be form
ulated into n published schedule. This advance.
without counting the new charges for inland trans
mittance Of cables will save the Western Union
Company about $4,000 year, which is equal
to rs per cent for it's own stock The days mar
l1et only further develops the satisfaction Of
holders Of securities with the situation, and that
those operators who week ago sold for reaction.
and did not improve the opportunity OF the latter
part OF last week to rccoup are left; Prices to-
day generally were up 10 the best OF last MondaS.
and in some instances higher than then. The
loan market reflects no change in the short in
tercst II anything, this morning II was larger than
last Friday morning. The market closed quiet
and strong at about the best figures Of the day.
TIFF DAY IN THE BOND MARKET.
The offerings OF bonds to the Treasury amounted
to s4O5OO-all 4s-at I27al2 l-e; the Secretary
accepted s30,50O at 1877 3-s and less. The local
market for Governments was dull and steady at
quotations as follows: