St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-01

Satisfactory Rates,Reduced
From ST. Louis to St. Paul.
CHICAGO, July 31.-President ]. w.
Reinhart, of the Santa Fe, arrived i'll
Chicago today from the East. In speak
ing of the general railroad situation he
said: Eyes. it is true that traffic has
fallen off very much lately, but the men
in whose hands is the management Of
the great railroad systems of the country
foresaw that it would many months ago
and began to prepare for it then. The
reduction in expenses i'll all directions
has kept pace with the reduction in the
traffic, and while gross earnings may
have decreased largely in many cases, it
will be found when the final settling
comeSl that the net earnings on most OF
the roads are as large as they ever have
been. | am decidedly not of opinion
that there is any foundation in
fact for the mlny rumorS that have
been put into circulation to the effect
that general passing of dividends is 10
be expected. Those rumors have been
started not by the responsible men who
ties in charge and who are thoroughly
familiar with the real situation in all
details, but by irresponsible parties who
have sold other peoples property and
who want TO buy it back at cheaper
price than they paid for it. They have
been started by men who Ought 10 be i'll
the penitentiary. Oh yes, am very
well aware that it has been reported
that the Santa Fee will follow the
Erie into the hands Of a receiver.
That report originated with the very
same class to which have just alluded.
If any one can place his hand definitely
on the party that originated that report,
he Will be rendering MS very great
service, for which we will be very much
obliged. We will then see whether that
party knows more of the real condition
of this property than its responsible
officers. In my opinion the present de-
preston will be shOrt-lived. BY the
end of September you will see glut i'll
the money market, and the industries OF
the country will resume their wonted
activity. | do not think there is any
thing to be particularly alarmed about
in the present railroad situation.
Milwaukee & ST. Paul Earnings.
A highly satisfactory statement was
issued today of the earnings Of the Mil
waukee Il ST. Paul road for the month
OF June and for the fiscal year ending
June 80. 1t showed the gross earnings
of the month to have been 81, 47.y7S.39,
as compared with S2.5S4, IT'S. l6 for the
corresponding month last year, being
an increase of S163, 200.7. The eX-
penseS of The month amounted to ST.
743, $1,000, against Sl,7S3, 9l0.05 for
the same month last year, d
decrease of $4O,013.36. Net earn
1ngs for the month amount
ed to $1,000, 0S2.24, against $500, S6& II
for June 1892, an increase of s2032l4.13.
Gross earnings for the year amounted to
$33, 915, 054.7l, against $50, 2S3, 50S34 for
the previous year, an Increase Of 81 ,G9l,
546.37. Expenses for the year amounted
to 500, ass. lU7.S3, against S20.Sl5.G04 50
for the previous year, an increase of
$1,673, 103. SO. Net earnings fer the year
were $1l, 4S6. 946.SS, against 81, 4GS, 5O3. 81
for the previous year, all increase of
$lS,443.04.
Last Weeks Business.
East-bOund shipments by all the rail
routes made slight gain last week as
compared with those of the previous
one. They amounted to 40, SOL tons, as
compared with 1889 tons for the pre-
ViOuS week, and 53.S tons for the cor
responding week last year.
More Cut E2nees
Rates from ST. Louis to st. Paul have
been reduced to $3.50 one way, and S24
for the round trip. This action has
been taken because the sum OF the re
duced worlds fair rates from st. Louis
10 Chicago and Chicago to st. Paul
made thoSt, fiUIIr.sc