The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-11-08
MINE, MILL AND RAILROAD.


The Lehigh Navigation company has
reduced its dividend to per cent. for
the half-year, or 81 per share, giving as
an excuse therefor that the demorali'
zation now existing in the anthracite
trade had induced conservative desire
to husband resources. 1t was thought
that the reduction in the Lehigh Navl-
cation comapny's rate of dividend had
a great deal to do with the recent de-
cline in Jersey Central. The reduced
rate was not expected. and 1t did cause
some small sales of the stock at re-
duction. 1t is reduction of one-half
per cent. from the dividend of last May
and decrease of / per cent from the
dividend Of one year ago. The present
reduction is due to the depression of
the coal trade. The dividend declared
makes the rate of the year Az per cent,
compared with per cent. in 1893, 5h
per cent in 1892 and per cent. each
in 1891. 1890 and 1889. The dividends
previously declared have been as fol
lows: 1881, per cent; 1882, A per cent:
1888. 51a per cent; 1884, per cent;
1885, 5h per cent; 1886, Az per cent:
1887, A per cent; 1888, Az per cent.
Assistant Postmaster General Neil
son has been investigating the subject
of special mail service with reference
to long electric lines, and has expressed
the opinion such roads can be profltably
utilized for carrying the mails between
local points. This business has always
been considered the prerogative of
steam railroads, yet anumber of trolley
roads are already engaged in carrying
mails, and in some cases, special elec-
trio mail cars have been used in which
the work of distributing and cancelling
is carried on in the same way as in the
cars on steam roads. Another direc-
tion in which electric car lines threaten
to cut into the income of steam roads
which they parallel, says the Post-Ex-
press is in carrying freight and doing
a regular express business along their
lines. This has been undertaken by
quite a number of roads and has al
ready met with considerable success.
Some of the companies have gone into
the business extensively enough to re-
quire special cars for this service and
such cars will probably be required in
most cases where freight and merchan-
disc of all kinds are handled. Where
ever this has been tried ii has been
well patronized, especially on suburban
lines and outlying places which have
been built up by the trolley roads The
delivery of bundles of freight in such
districts tends to popularize the trolley
with suburban patrons and draws cor
respondingly from the traffic of steam
roads. Such an express or freight
service is also in general far more con-
venient than that of the steam car. 1t
is very obvious that in some respects
electric railways have advantages
which make them preferable to steam
roads with the public for local travel.
The chief Of these is perhaps the fact
of their taking on and letting off pas
sengers at any point on the route in
stead Of combining them to the use of
two terminal stations as in the case of
steam lines. From the experience al
ready gained by the steam railroad
companies in the loss of local traffic. It
is apparent that electric roads are sure
to ultimately provide for this travel
where it is reasonably heavy, and the
question confronts them now whether
to provide electric traction for this pur-
pose or to allow their income from this
source to be diverted into the pockets
of other companies.
MINOR INDUSTRIAL NOTES:
The Carnegie mill at Homestead re-
sumed Monday on double turn.
The Ohio Southern earned in october
$S6,523, an increase in gross earnings
over October last year, of $22,O91.
In the ten months ending Oct. 81 the
Pennsylvania lines have handled 12,'
993,45O tons of coal and coke, decrease
of 2,193,459 tons as compared with the
same period of 1893.
Says the Indianapolis Journal
Through car service between the
Nickel Plate and the Delaware, Lacka
wanna and Western has been aban
doned. 1t had not been profitable, ant
the contract was opposed by the othel
Vanderbilt lines"