New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-15
RAILWAY EARNINGS.

ieichsmarl,s ...... 49,. ~: ~
Guilicrs .......... f"> VIZ
RAILWAY EARNINGS.
The Tribune has printed the gross earnings OF
scventy-three railroads or systems for the fourth
week IN March. OF these thirty-si% railroads
return gains of S4Sos6S or III per cent ana
thirty-scvcn railroads losses of $4s4S75. or 81
Per cent. The whole shows loss OF S4o''' O.
OF per cent
The Tribune has also printed he gross earn
ings Of forty-ive railroads or systems n the
first week in April OF these thirty-three ran,
roads return gains OF S977'I5, or SO per cent, and
twelve losses of $176,l1s. or s5 per cent The
whole shows gain Of SOL .591. or Il per cont
RECApITvLATloN.
1894 1895 Differences T. C
20 compa msH ~ a 1910 S51 Inc s.soses II
81 coiniancs.... $50 S2G iSi5o5i De. 'si.s75 81
Tc'ai 70 cos. .sa.isosoo sslso So Dec. A.oo' ci
ys ' GSmp TiTe N S5s74 81 a2so inc .2777l5 90
i. Soraianies. is3Gs:d I6oioS be-. i7e.ils %
Total ~ COS. .s.7iISoo s,slase7 Inc siol.5s7 81
on THE STOCK EXCHANGE
The leading Incidents of the week. affecting
values on the stock Exchange. include the report
of the Chicago, Burlington and Quincy Railroad
Company for 1894. 1t was worse than was eX-
pect"d the deficit for the year amounting to ST.
1886, ana the depreciation of rolling stock
being over N.0o0.000 in two years this com
panys revenues have fallen of So millions.
while operating expenses We're cut down GU mill
ions. II IL not for The abnormal depression
% the last two years, sucn an exhibit could only
be contemplated with despair; but right judg-
mcnt in view of all circumstances, allows con-
siderable hope for the future # Burlington, if
only the crops for 1895 prolific The income
tax decision produced no ap2rcciable variation
in prices. II is a satisfactory decision. from
general point of view, only because Its tendency
is against the Populists' principle. that the Gov
erument has a right t. take a mans property
frpD in " no ~, ~ lpcI h,.
has more than some other man The Atchison
plan was promulgated officially, and is generally
conceded TO be good as the security ho.ders
had any right to expect. According TO the show
ing of Mr. stephen Litte's recent examination oi
the system, the company, at its worst. earned
enough 70 pay the charges on the general As. and
the o. these bonds. therefore, are the only
ones who had right to expect 10 come out
about even. The value of every obligation be
hind them is largely speculative. Junior secur-
ity-holdcrs in other bankrupt concerns may now
make up their minds to what they may r"a-
sonably expect. The Erie receivers obtained au-
thOrity to issue certificates 20 the amount OF 81.
100000. Eastbound freight rates again
adjusted. with the hope that this time the agree
ment would be adhered 10. II ii be broken the
breakers may justly be regarded as akin 10 rail
way wreckers in view Of present conditions af-
fecting the railways. Nothing was done to settle
the anthracite troubles. but the differences be
tween the great companies wdcned Reading
demands y per cent Of the output. and the big
New-York companies do not see how this can be
granted If they are to keep on paying dividends.
Reading VII. not even submit 10 arbitration, ana
in justice TO the owners ~ the properi". II Is
hard to see why she should do In this coal
situation. in judgment. lies the greatest peril
OF the present time to the market.
The general business outlook s. encouraging.
and improves larger wholesale demand for
goods is reported: bank clearinCs are favorable.
In some places wages were advanced: retail trad"
Increased; crop prospects are pleasing prices av-
erage a little higher than year ago: railroad
earnings increased small per cent, and exports
Were larger
The volume Of business on the Stock Exchange
was restricted, and professional traders were In
control. Considerable activity among the bears
had little effect. and the characteristic feature
OF the market was its strength. People who own
stocks would not sell. and large interests seemed
determined to hold prices steady. The week was
short one business day owing 10 the observance
Of Good Friday. and this is urged one reason
why the market marrow and tame. In our
judgment the market in most 81 Its aspects. re-
fiected legitimate sentiments and conditions ana.
Legitimate conditions alone being considered
should neither fan nor rise much for some time.
But II the theory Of the bears that the "syndI-
cate" is in control be admitted. no one. II course.
should venture a prediction Yesterdays whrl
ing rise for the Western Vanderbilt properties
peculiar. and presents phases which support
shorts does not fully explain the advance IN
these particular stocks. Our table showing the
weekly range Of prices exhibits considerable
change for the better from week ago. The
Changers were dull and heavy unit! Saturday;
the anthracite group was fevcrish and unsteady.
The internatiOnals were strong. though neglected.
cially activity marked Michigan Central. can
ada Southern, Lake Shore and Ncw-iork Cen
trail. On the whole, II was an encouraging week
for what is known as the Vanderbilt properties.
The New York Central shows an increase ~ over
$40 900 in gross earnings for last month. Inc
general list was irregular but higher. Greatest
activity marked the Industrial group. chicago
Gas advanced the declaration Of quarterly
dividend. which puts II on > per cent basis
Distilling and Cattle Feeding, which ended me
week with a small loss 90 was feNerish. many
small incidents having occurred which were
favorable or unfaVorable 10 1t. depending upon
the point Of view. Big "nsiders" are said T. be
letting Sugar alone. and It's fluctuations were
within about points. II gained ~ net United
States Leather preferred advanced @Is clear.
owing 10 reports alleging much higher prices Tor
all kinds Of leather. This appears 70 be wholly
due to manipulation. II IL prob lbly useless but
Il reflects sound opinion to advise quiet p"pl"
with only "A little money TO Jet Industrial stocks
severely alone
Silver advanced 2h points net 10 sS owing 20
speculative Views concerning the results OF peace
between China and Japan. and thereby cXcrten
a good influence upon the railroads Of the silver
mining States Of this Union. 1t can only help
them permanently by rising 10 and remaining at
about 70 cents. The following condensed table
shows the movements Of the week In the most
conspicuous properties: