New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-08
~ n>1ND rEIcLs ON rn.LAnLLrmA sTo-Ks.
LAKE SHORE And MICHGAE SOrTHEIN
Wolrcs.it,. NJ =

Wednesday, MAY 7-p. m
The Lake Shore and Michigan southern Iaii-
way IN IFS physical and financial status probably
now holds first place among all the railroads "I
the country What q change in it~ condition from
,hat Of 1919, after a period iu which y had '''n
paving uuca7nc1 dividends hy depreciation Oh
The propcriy and tie creation OF no.il"2 u'h',
which exceeded s, 100000 In those days som"
hard things were said Of The Tribune hccaus'
it exposed the methods Of tie company book
keeping The compony'> annual rcpor, for tNe
year ended December ~, l-59. published to-day
is ancient history as to the financial results 81
that YEAR. because tie Ic- llar report 81 to-day
ONLY differs from tie estimate published Deem
Der 49, lss9, IN The final hrnucia! result oIn3
sl35. Tie surplus, after paying ; per cent
dividends is $142,9jl, instead of ; ~, IT,, as bF
estimate Of December 10. l,7". il earned "I'r'
reducing i's debt $2j0.0Oo. q ~ per cent on U.s.
stock and only pad , per cent.
The cOmpanys balancc-shcct shows u.aj J,
holds Sl3,71O596 Of the Sccuriuc, OF lia lr'H''
or controlled lines and among Them re New
York. Chicago ana 81 Louis first preferred Ht''",
S?503.O0O second preferred, Sb.2t',V"u, ana
common stock, SG,2i0,0op: total - ','l -'"."'
which however stand al $-.l41.5i1 "a me" 70
tai Of $l3.77O,5oG OF The securities held l"r
cash assets and the floating Liabilities on Dc'ci"-
Der 81 show as follows
CASH e3i@t ~
Earnings ....................... lo2 20
Total co.h.......................-... s'l365io
BB;s5Ss. q. Sss.. ,3a o"f fs5S 5
ro,,, e,eyr,ions ~ 2.o62 So
.....n sI.s7io,,
The statistical part Of the report j. instrnctiy"
70 all PERSONS who are measuring values hN ohN
one side Of the condition ~ fw" decades ago.
The year of 1913 at that time was m'INrn ~
fhe LARGEST gross earnings. the greatest movement
Of freight aud Of passengers the company had eyer
.nioycd. In 1889 the gross earnings for l"f
first time since then equal those Of l4'". -
look at the tonnage movements, rates secure"
and cost: ,e.o
Ton. ........... .II.5 ? loc 5'
Cot Der nile. cents -.......... b2iG a.,
THE traffic has nearly doubled. the rate pei
mile has been reduced II per cent ana th' - s
las been reduced nearly - per cent. In the ~ r.
six months Of lsa3 the company compcl4ci
70 suspend dfvId,'n1S, although in th'I p
months it had done the largest ard most proh'2.
bic business IL thcn had ever done because II
had no money and coult not borrow any WIZ
Which 10 pay dividend. Now at about huI
rates il, after paying It's Heating debt and aii"i
for several years reducing It's bondcd "c".
II an. Ojj, after paying dividends since 49,
Of 2 per cent for 1856 per cent for ier' ana
: per cent each for s-s and 1854 .,.
And ar bcttcrmcnts AND additional equipments
einre IEs3 have been dIargcd 10 operating cN-
ncnscs The amount expended for new COUP
mcnts last year and charged To operating expenses
WAS y .J3H, anu IOI 'tllfIHltHlS tIF
,vos xgGj7 $50 Perhaps the country is h"'
craving. The subioncd tables compare the
6nsincss Of three years
THREE YEARS BUSINESS.
Yeor. ended Dec. 81 1851. lss8. o TO- f9 ~
eros. earnings 'IO''' 4loV"'O-' fI'''0'''
Operating expenses anu =, o.o -os oo y, - AZ f2
-.----.--- ''f"-'''"' 'i'"''f"''
-. o..nloc. s1csiiG5 se.5i925G sjo327l5
FIi-t chaigcs. lncI.p'
ING 100000 Tor ..,..... ..., , ,.2 a.,
sinking fund ...-.-- "e'o.oio @AOS'1Jl D."
,,, ,r the wear. s3 ~ $50 ~ 10 800 s3.2lG go
dividends pad.......... Di''o'"'o c-'''""-' 80
Balance OF surplus. slsO2o'O sO3''io s''-''
- 4 no, cent dividend. e. . per cent dividend
STOCKS REACIIONARi.
Nv some means other some one: so u IL re-
nortcd secured the publication in all the iho'h-