The record-union., 1892-08-15
'er since january last is as follows:

GIaSitEu mai duNlceS report q continued
steady increase in speculative securities, but
with, as yet, the outside public not largely in
terested, although it would seem that more
chronic spectators are beginning to take
more interest in the movements of the
market, and this has heretofore always been
followed, sooner or later by the general pub
Lie taking an active part in the market. That
full campaign promises to be successful can
not be denied for the outlook for fair to large
earnings by the railroads and industrial en-
terprises was never better which should draw
in investors at home and abroad. In our last
financial review mention was made of the
railroad returns as given in Poo1'S Manual.
but large as were the figures given they poorly
covered the situation. An exhaustive review
OF the Manual by the New York Mail and
Erl2ress shows that in the past twenty-five
years the mileage ofrailroads in New England
where the development has been without
speculative feature, has increased from 3,93S
miles to $3.50. In the six States comprising
the Middle Group the increase has been from
9,19O miles to 2o,42S miles, and in the
South from 9,94o miles to 32,11o miles.
Throughout the WesterIi States from the
Ohio and Mississippi Rivers on the east to the
Rocky Mountains on the west, comprising a
vast empire 1926 $50 square miles in extent,
where the progress of the nation has been
most rapid and its increase in wealth most
marked, the railway has been the great in
strument in opening up new territory to set
clement and furnishing the means of trans
portation, without which these lands would
be stin Undeyeloped and unproductlve. In
1867 there We're only Is. m miles Of railroad
in these States, against 100, 500 miles ia 1891
Ofthis mileage only a small portion in 1867
was west of the Mississippi, where there are
now 700 miles OF line. In 1867 the mile
in SCI. II, 81 miles. The rate of increase
IN the mileage of our railroads in the period
named vast as it has been, has been greatly
ecipsed by their operations OF all kinds In
1866, from' carefully prepared data, the ton
mage of our railroads did not exceed a., S72-
800 tons, the mileage for that year being So
Sol miles. In 1891 their tonnage equaled
704, 39S, 609 tons for 1To, GO1 miles of line.
AT $50 the ton, the value Of the merchan-
disc moved ia 1850 equaled S957, 10000;
OF that moved in 1891, S14, 7,972,1SO,
These statements sufficiently show the mag
uitude and rapidity OF Increase OF the mileage
and traffic Of our railroads. The cost per mile
Of all roads making return, as measured by
the amount OF their stocks and bonded in
debtedness, eQUaled last year SIS, 1920.
against 500 So for 1880. In 1890 the total
investment was SO, I22, 635, 900; gross earn
ings were 81 ,o9?, SAY ,42S, equal TO los per
cent. on Investment, ana net earnings S346-
921.31S, or 81 per cent. on capital InlS9l
the gross earnings of S1,13S, O24,459
equaled 81 per cent. of the total investment,
aggregating S10,3S9, S34, 226: and net earn
ings,e S356,209, $50, equaled 81 per cent,
The total amount of interest payments in
1891 was equal to 4.25 per cent. OF the aegre-
gate bonded indebtedness of all eompanies, as
against AR per cent. III 1890 and IA per
cent. in 1883: and The total amount OF divi-
oend payments was equal TO $50 per cent. on
al paid-up capital stock il 1871, IS per
cent. in 1890, and Isl per cent. in 1850.
CEREALS.
Receipts-Flour, 5000 barrels; Wheat. 1s.-
2lS cent8ls; Barley, 6,30S centals: Corn, -
sacks; oats, 81 4 sacks; Rye, 266 sacks.
NREAT-Th market closed quiet but firm
Notwithstanding the strong bear pressure.
Farmers are not selling freely, and conse-
quentIy buyers find it hard work to secure
their wants without bidding up. We quote:
Eor Port Costa or alongside delivery the mar
ket is quoted as follows: shipping, 81 $500
] $50 for fair to good; choice TO giltedg5d
81 40@1 4255; milling, 81 42b91 . for fair
TO good; 81 491z@1 51L4 for choice TO gilt
edged. Holders ask higher prices than the
above.
BARLEY-The market closed strong with
an advancing tendency for the choice bright
grades. The market is quoted: Feed, poor,
o614 @SSs4c; fair to good, 9o@9314e; choice to
extra choice, So@9973ac, Brewing, old, 81 o27a
oATS-The market was strong, but sam
ping was ilgnt. The market is quoted as fol-
lows: Feed, 81 25@1 80 for common: 81 IS
al 40 for fair TO good; 81 4 for choice TO
extra choice; 81 80 for gilt-edged; Surprise,
81 80.
CORN-The market was quiet but steady.
We quote as follows: Yellow large. 81 27I6a
] 50; small, 81 323I@1 35; White. 81 37L@
kYE-The market was steady at 81 goo
FEEDsrUFF.
Receipts Bran, 1857 sacks: Aridilinos
EOS sacks; Hay, 654 tons; Straw 90 tons
The market was quiet. The market is
quoted as follows: Bran, S16@17 q ton: Mid
dlings, SO 50921; Rolled Barley So0G
2I so; Feed Meal, S2S@29; Cracked Corn
sTkAw-The market is quotable at 4oa5oe
= bale.
except choice to gilt-edge which was steady.
THO market is quoted as follows: Glover. ssh
10: Alfalfa, S7g9; Wheat. SS@12 so; Wheat
and Dat, S7@11; Barley, S7@9; Dat, SS@9'50
DAIRY PRODUCTS.
Receipts-Butter, 305 ctls; Cheese, $50 ctls:
EGGS. 4. 500 dozen.
0UTTER-The market was weak and irresu.