Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-03-31
FINANCIAL NOTES.

Inc IMPRESSION acfMN ~ iAtNNN =fhtt-
ally in financial and mercantile circles
that large sums OF gold win be- exported
before midsummer. nnd this belief 90
certain extent ia well founded The
amount which IL is estimated viii 20
forward is much exaggerated being piac-
eel as hirh hs SI5.OooOOo 10y some. and
SJ0OOOO0 by others who are supposed
70 be well Informed ON foreign c1cnnnEe
matters. They predicate their calcuin.
tions upon tho fact that the balance Of
trade against us j. greater than last year.
Several very important factors, however,
which should enter into such n calculn-
ton, are overlooked 10 Is forgotten
seemingly thnt previous 10 lSo2, n large
portion Of The precious metal shipped
abroad was a rcimp0rtati1n. IN the year
lhj2 not one dollar of the gold which
Europe took from ua WINS returned. while
IN The FIRST bulf of 1891 we were export
Ing the yellow metal. and importing II in
the latter half To That extent the bal
ance is In our favor. The fnct Us also
overlooked thnt m the first two months
Of the current yenr Europe purchased
between S35.OO0OO and S4OOOuOOu Of
our securities. Again. the great strike of
the English cotton spinucrs, happily just
ended. has delayed the purchases Of cot
ton, which must be made in the near fu-
turc III the Euglish mills are TO supply
the world with their usual annual guam
tity Of manufactured goods. a slill fur
thor factor. and perhaps more important
than either Of those above mentioned,
Is The inevitable influx of money. which
must accompany both foreign visitors tp.
aud exhibits at, the Worlds fair ot CHE
cago. Chicago banks az stated IN The
Wall Street Daily News on last Satur-
day already report that letters Of credit
In considerable amounts are being pre-
scnted. II was estimated that the Paris
exposition took about ST5,OOO,OOO ont Of
this country. IN addition to the amount
usually expended by Americans abroad.
The Foreigners not only will bring nom
ey to this country. but n considerable
number of Americans who are accus-
toned 10 a summer European trip. Will
be kept nc home by the attractions Of The
exposition. thus adding In q negative way
10 the balance ON our side. Ii viii thus
be seen that there are many reasons
to suppose chat the popular idea of our
spring gold exports is exaggerated be-
yond reasonable calculation
Prime IN his Saturday Crop Review,
snys the past week has not been favorable
90 the rapid growth of winter wheat, al-
though there was little deterioration. Re-
ports from Texas are extremely fuyorn-
BILE. Some damage Is reported IN Kansas,
Missouri and Michigan. In the spring
wheat sections little has been done, and
hope OF au early spring Is abandoned.
On the whole prospects, with fair
amount of sunshine are favorable.
The statement Is hazarded by The
Finaucier, that as the result of operations
for ycar ending June 80, 1893. the Atchi.
son. Topeka aud Santa Fe consolidated
system should be able 20 pay az least
. - per cent ON Us capital stock of
StO2 100000. In arriving az this cOnclu-
sion, The tinancier has made the follow
ing calculations: The gross earnings of
the Atchison consolidated system for the
first seven months of this fiscal year are
$50, G4G326. and on the same basis for
twelve mouths the gross earnings for
fiscal year ending June 30, 1898, would
amount TO So. 5S6.553; but the earnings
per month for the last Ave months Of
fiscal year, 30 not appear TO average al
high either in the case of the AtchisOii,
Topeka and Santa Fe, or the ~. Louis
and San Francisco, rs they do IN the
first seven months. while the condition
Is reversed Va the case of the Colorado
Midland railway, and the average earn.
ings per mouth for the last five months
of Il fiscal year, are a little more. than
In the first seven months With this
fact plainly established, IL has been con-
sidered advisable TO deduct S1,ST4OO2
from the 52.586,553 above mentioned,
aud the gross earnings for the current
fiscal year should be $50, OG2 SOL, or So
315,321 more than in the fiscal year end
ing June 80, 1872. Similarly Il Us known,
that the operating expenses of the CON
solidated system for the first seven
months of the current fiscal year were
S2QolO,oOl, and ON the same basis for
the twelve months the total expenses
would amount 90 S35,21T ,26i; but a de-
ductiou of SG2l 800 has been nudc from
these aggregate expenses 10 represent
the decrease In expenses for the last i've
months of the fiscal year. as compared
with those OF the first seven months.
Deductiug $24,G55,3O5 EXPENSES from
SjO662, 65l gloss earnings, we have net
earnings for the consolidated system OF
@lOOOI.246, and 10 this may be- added
&lWO,OOO, income from other sources
Against this total income S17,iOT.24O
would be charged
Account AtchisOn, Topeka and
Santa Fe railroad for in
terost, taxes and rentals. SO 300 OOO
Account 81 Louis and San
Francisco, interest, taxes
ana rentals. .......... 1887. 159
Account Colorado Midland
railway interest, taxes, etc. $40 90
Account Atlantic aud Pacific
railroad ............. 77O1so
Total charges .... Ia go5 $50
Surplus S2,41i .GBG or an amount orlv
Sl3S384 less than that required Ia nav
- p'l cont dividend ON the share
capital Of the Afchison. Toueba ana San.
q Ice Railroad company If this view Of
the situation Is correct the stock Of
Atcllison, NJ present prices. IL the cheap.
est stock IN the market, for those who cnn
afford 70 hold IL, and who have Tie corr.
age OF their convictions.
a meeting of the cotton oil mon ~
kastrOp, Tex was held nj the First M.
lonal bank In that town on the I'm
inst, w G, Powell was elected tenpor.
ary chairman and j. NJ Myers SCORE.
tary. Five trustees 90 act rs subscIib
ers 70 stock IN the Bastrop Cotton-Ou
company We're elected as follows: w
q. Powell, i. q, ELMER, w. ID. Good.
man, Louis Ellers, Ir., and ID. n. Or
gain, with Louis Hllers, Jr., as score
tary 10 the trustees. by a unanimous
vote the trustees were entrusted with
che power TO contract with T.. Van
Wrinkle for a thirty-ton capacity cotton-
Oh mill TO be erected Ia Bastrop. and 10
| ho In active operation on or before sent
l. aud not later than the 10th. Tbe
name Of the organization Is the Bastrop
| CottOn.Ou company, and the capital
stock Is $4,000. The subscribers Ia
stock present at the meeting were: u
Boaz, II. O. Elmer, w y. McCord, W
y. Goodman, j. NJ. Myer s. II. Green.
H. ID, Organ, Louis llllers, Jr., Chester
| ErhaW. E Van Wrinkle DR. III. =. Luck
etc and w. q. Powell
The City Street Railway company of
| Galveston has sold $1,000 600 al IA
bonds. The proceeds win be used for