Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1893-10-20
OUR FINANCIAL LETTER.
Great Railroad Properties on
Thin Ice.
The Inexcusable InRctiOn of the senate
Suggestion to MIR. PeFer----SOme
Figures to Think about.
"a BROAD STREET, I
NEW YORK, Oct, 1S, 1893, {

NEW YORK, Oct. 1S, 1893.
Another great railroad has had to sue
cumb to the hard times, and the Union
Pacific is now in the hands of receivers.
The gross earnings for the first nine
months of 1893 show a deere ase of $4, 643,-
600, and net decrease of 50, ,631, 900. The
Atchison road is also rumored to be skat-
ing on very thin ice. This road has
mileage in Kansas of 2G00 miles, and at
this very time western Kansas is asking
contributions of wheat for seeding pur-
poses The securities of both Atchison
and Missouri Pacific are selling on re-
ownership basis, and would sell but very
little lower should receiverships overtake
these vast properties.
The business situation shows very litQle
improvement, owing to the outrageous de-
lay and inexcusable inaction, on the part
of a few men in Washington, called Unit
ed States senators. According to the
rules of the Senate it seems that one can
talk until he dies of old age. These rules :
were made when the United States Senate
was composed of statesmen, not cranks
and demagogues. Therefore it would seem
that the repeal majority should lend their
energies to the establishment of new rules
in the Senate, and do away with this
physical endurance farce. The once
dignifed United States Senate is now held
up to ridicule, not only in this country, but
all over Europe. If Mr. PETER, and his
like, would only do their filibustering out
in Kansas, or some other remote state, no
murmurs would be in order; but as the
majority of 100000 people seem to
think that the unconditional repeal of the
Sherman silver law is the only panacea for
our present troubles, it seems decidedly
un-American, unconstitutional, and un-
patriotic that a handful of men should
block the wheels of progress, and hurl de-
spondency into the camp of every industry
in the United States.
Let us ponder over the following and it
will give us quite an idea of the magnitude
of our resources and development:
Railroad mileage, 175, 600 miles.
Bank deposits, s., 900, 100000.
Customs and various taxes, s., 200, ,0OO,-
600.
The estimated value of horses, cattle
and live stock, So, 900, 100000.
The recent average yearly production is
as follows: 4OO,OOO,OOO bushels of wheat;
2S5, 100000 pounds of wool; 100000
tons of coal; 100000 tons of iron;
7,00O,O 900 bales of cotton; and last, but
not least, 1000 OOO 900 bushels of corn.
An internal commerce valued at $780,
900, 100000.
These data are almost beyond concep-
ton, and doubly emphasize the grave re-
sponsibility of any action that tends to
create distrust in the minds of the people.
In about 10 weeks 1893 will have passed
into history, and the present generation
will long remember the year as one of
liquidation, depreciation, and suspension.
The great wave of adversity has already
done its damage, though it may take lit
tie time to clear up the financial and COM
mercial wreckage, but the incoming tide of
prosperity will tend to remove any sad
memories of the past, and leave bright
hopes for the future.
W. P. EAGER,
Banker and Broker.