New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-19


The narcentage Of cost OF operation was
co., per cent against &c. 40 per cent for 1896:
The report says:'"Since the close OF the fiscal
,eor local traffic has improved and the general
Sus,ness of the line Is substantially and
andy Improving that there is every promise
that during the first six months OF the new hscai
year. notwithstanding the geEeral eoal slr df,e
which continued until September 10, the com
many will earn more than its fixed charges, ana
IL the same general conditions continue IL VIII
end It's fiscal year with surplus over such
charges In order to meet the abnormal con-
ditions prevailing during the year the man.
agement promptly adopted policy or econo-
mics 10 produce the best results, While main
tanning the property at the standard OF efii-
cheney. ,,.,
lowing to the unfavorable conditions pre-
viously mentioned, the company has been I'M
able to sell at satisfactory prices It's consoIi-
dated mortgage bonds reserved for improve
ments and betterments but other arrangements
were made for the payment OF the indebtedness
thus created. 1t therefore determined,
when arrangements made for the extern
sion Of the Ohio and Mississippi first mortgage
bonds. that a collateral trust loan should u
obtained for a satisfactory period TO be paid
later from the proceeds OF the sale Of such
bonds and an extension should also be OBJ
tanned on certain Of its equipment indebtedess.
These loans amounted TO SSO0000 which to-
gether with the deficit OF interest, made total
OF 81 100000 The bonds In the treasury, II sold
at prices now prevailing. would realize sum
substantially In excess Of such Indebtedness.
Improvements made upon the property dur
ing the year aggregated $3.50 163 Net additions
to equipment amounted TO S2IO,Jl3, and the to-
tai cost OF additions TO property accounts
$513 IA. Equipment trust certificates of the
Ohio and Mississippi Railway to the amount OF
$4,000 and lease warrants OF the same COM
pany 10 the amount OF 1923. were paid and
retired Negotiations for the acquisition Of ter
minals at Marietta were concluded on satisfac-
tory terms. The extension OF the first CONSOLE
dated mortgage bonds Of the Ohio and Missis-
s!ppi Railway Company. sc. 46S, 900, maturing on
January l. 1893, was arranged for period Of
fifty years at per cent from January ]. 1891
which reduces the company's fixed charges
1892. 500 per year"
The Pacific Mail Steamship Company has de
clared a semi annual dividend OF per cent pay
able on and after December l, at the Mercantile
Trust Company. No. 120 Broadway.
The 100000 Union Pacific purchase money
certificates. application to list which was made
TO the Stock Exchange yesterday, are the re-
ceipts given to members of the underwriting
syndicate In return for their cash subscriptions
The application is made In order TO make them
more easily negotiable. They will be In exist
ence until the actual issue Of the securities OF
the reorganized road
The earnings OF the Missouri Kansas and
Texas for the second week in November were
$4,000 larger than the best weekly showing
ever before made in the history of the com
pany.
Z The Union Pacific. Denver and Gulf Reorgani-
cation Committee, G. NJ. Dodge. chairman, an
nounces that securities deposited under the
bondholders agreement up to date amount 10
S15,2S600O first mortgage bonds. out OF total
OF SIS S01 900 and capital stock S27 S94 900 out
Of a total OF S29.727. $50