New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-12

prising that attempts to lower security values by
pessimistic utterances have had little or eff
iect upon the investment holdings, or upon
Vaiues to any material extent. Holders Of Sc
curitles or the great solvent corporate enter
prises In this country are drawer than ever be-
Iore, and they are not to be enticed easily into
throwing over their securities by every attack
professional traders may make upon values
investors are beginning to give closer attention
to the actual value OF their holdings as based
upon the financial conditions and operations of
,he companies their securities represent. They
peneVe that Mr.. Bryan will be defeated and they
DeheVe mat security values Will enhance Be
iieving this. they not frightened or worried
Dy reactions In the stock market, and they
content 10 keep their possessions safely guarded
from the rapaciOus hands OF Stock Exchange
pears Security values showed very material
changes In the week. the majority of active
STOCKS closing at small net losses. The profess
sionai character Of the dealings was the leading
feature OF the week, and outside of Sugar Re-
inning. Manhattan, Louisville and Nashville and
the Granger shares there was little activity.
Little attention was paid in the stock market 10
further advance in wheat, but II is noteworthy
that wheat advanced. and that silver declined.
cash wheat at the end of the week showing an
advance Of nearly - cents from the lowest price
OF the year. and the commercial price of silver a
decline OF nearly cents from the highest price
of the year
Holders Of securities OF Southern railroads
must feel enCOurag ed over the improved pros
poets of traffic business in the South
hected in the change in control of the Seaboard
and Roanoke Railroad and in the annual re-
port Of the Louisville and Nashville Railroad
Company. The last-named company gave sur
plus for the fiscal year of S13T1 503 after the
payne mt OF all charges. and earned 2lb per
cent on its stock. although no dividend was
PAD. Doubtless the company will soon be in
the dividend paying column again. and il will
only need the restoration Of normal business
times to swell its receipts to a good dividend
paying point. The company is conservatively
and sagaciously managed. Betterments and i'm
provements are being made. and at present all
save Iinety-six and half miles are laid with
steel rails. while on the sections where traffic
utSti
tuted for the lighter ones Showing the work
OF improving the property the operating
penses per mile in the year were 81 300 against
Silo4 in the preceding year, the total increase
in operating expenses being S1.227 .433. In its
proht and loss account the company is wiping
off everything of d doubtful character and in
its system of bookkeeping nothing can he found
which does not indicate the very best manage
ment. Louisville and Nashville SUSPENDED divi.
of the company warrant higher prices for its
securities and they will undoubtedly come as
soon as politics occupies a less prominent place
in the stock market In 1884 the stock Of this
it is now selling at Al "a. The bonds of the com
pany. especially the unified As. are In fair de-
mapd. and doubtless they will attain even more
popularity when the companys report has been
carefully dgested
The transfer Of the Seaboard and Roanoke
Railroad to new hands considered in some
quarters as equivalent to the passing of the
control Of the Seaboard Air Line into the hands
of Southern Railway interests: but such ideas
appear premature and probably do not fore
shadow the ultimate relation OF the Seaboard
Line TO the Southern Railway. 1t is probable
that the Seaboard Air Line will continue to be
operated as an independent system: but IL is
certain that the transfer of the property will
bring an end 10 the unpleasant relations re-
Gently existing between il and the Southern
company, and will bring about its operation
for the best interests Of railway development
in the South. The decentralization which has
existed in the South for the last year will be
ended by the new management OF the Seaboard
Air Line, and railway welfare in the South
will be fostered and encouraged by harmonious
understanding between the various interests
The Southern Railway Is being spler didy man
aged by careful and intelligent men, and al
ready has done much for the development of
the South. Its progress in railway development
has strengthened not only It's own position
among investors but has also made. by It's act
i've competition. better market for the securi-
ties OF other roads. which have been forced to
renewed efforts in developing their business and
activities in order 10 compete with the power
full interests in Southern Railway. The follow
ing tables show the movements In the week OF
the principal active stocks and bonds