The herald., 1897-05-15


over 900 as compared with the cor
responding month of the preceding fiscal
year. This great increase over the receipts
for April last year was due to the augmen-
tation Of the revenue from customs. The
expenditures for the month amounted to
$S2. 900 In round numbers. which rep
resents an increase of nearly 5000, 900 as
compared with the preceding month, and
OF over 100000 as compared with the cor
responding month Of last year. The recent
increase In receipts from customs has
made II likely that the deficit for the fiscal
year will not reach the proportions threat
ened earlier in the course of the year.
Comparing the receipts with the expen-
ditures for the ten months period, there
was up to the end of April deficit Of over
81. .ooo. O00 For the corresponding period in
the fiscal year preceding the deficit amount
ed to q little over $2s. 400. 000 On the face
Of the figures, therefore, the deficit for the
portion OF the current fiscal year which has
elapsed is not far from SO, OOO.0 900 in excess
Of that for the like period in the fiscal
year preceding. This is due, not to q de-
crease In the receipts for the period but to
an increase in the expenditures. So far as
the figures at present at hand show, there
would seem to be field for economy in ap-
preparations Of which congress might take
advantage with great benefit to the coun-
try.
During the past fortnight the anthra-
cite coal trade has improved perceptibly.
This IN aVf6anrod hvyf ba for <hot
have hardened and the demand for all
sizes OF coal has increased. The managers
OF the anthracite coal roads say that
while prices are not yet up to the circular
It ID expected they will be by June 1st
An advance in prices after June 1st is an
nounced. The April output of anthracite
coal was about 2,500000 tons, and 1t is es-
timated that the market requirements for
this month will be about the same.
Stocks Of wheat In private elevators at
ct. Louis on May LIST amounted to $50, 900
bushels. As compared with 49,, 900 bushels
on April 1st last.
The report of the Southern Pacific COM
pAny for the fiscal year ended Dec. 31st, a
brief summary of which has been already
published In these columns gives the fol-
lowing detailed statement OF earnings:
1896. 1895. 1894
Gross ....... ..As ,ese $50, o,457o2s 1891, ,4os
| Op. exp....... 3l,9s2,2O6 ss,242 1874 $4,000, ,s14
Net ........,ls, ,7o4.4so s17.2l4SSs slsse4. .4s2
Prop. exp. to
gross ...... e5X s5M e5x
Total income 1s.9s4.104 19.591473 1881, III
Charges ..... 17,144,551 17.40e.251 1885,, ,2s1
Surplus 80. N,7s9.55s s2.1s5. 222 $685., ,s5s
rhnr f>r ~
additions in 1896 on the proprietary COM
panies $S00.S19 OF which there was charged
to capital account $666,6l1. Total expendi-
lures for betterments on these lines have
been SIC. 3S4 500. During the year over 1853
miles Of steel rails were laid practically all
OF which was 75-pound section. Miles Of ties
renewed were 621s and there were placed in
track 2.259.000 tie plates; all these renew
ais and betterments being charged to ope-
rating expenses.
President Huntington, in his discussion
OF general conditions. notes with gratifi-
cation change of public opinion in states
which formerly were extreme in their at
tacks on vested rights, particularly in rail-
roads, and says that such circumstances
point to marked Improvement in the
minds Of the public towards the transpor-
tatfon interests.
Inc tTeHu VI pubic Oplnlon, ne aQuS,
''is unmis stakably In favor of uniform and
reasonable rates, such as will enable the
railroads to keep their properties In good
condition improve and add to their facili-
ties for the public service, and leave rea-
sonable profit on the capital invested, in
creating and maintaining these facilities.
The limit OF the downward tendency of
rates has evidently been reached, II tho
owners of the railroads and their managers
the M n fr,t a n rf Vnu
able rates, just and equitable to nll. To
what extent the owners and managers will
agree upon such course or maintain any
agreements made between themselves in
respect thereto, remains to be seen. In
view Of the recent decision of the supreme
court In the Trans Missouri Freight as
sociatlon case. the wish Is earnestly ex-
pressed that the costly experience Of the
owners, OF railroads Of the last thirty
years Will have shown to them some way
BY, which q repetition Of their disastrous
experiences will be prevented. Means can
certainly be found for operating the rail-
roads OF this country. representing one
nftn OF It's entire wealth, so as to give
some returns to those who have invested
their money in them without It's being
illegal or unconstitutional. However bad
the laws may be. they have, I believe
never damaged the railroad properties OF
this country as much as did the people who
owned them, by their want OF faith in each
other, and disregard of the engagements
with each other, no matter how sacred
their character may have BEEN"
During the first two months Of the pres.
ent year the gold held by the Bank Of
Russia on its own and government ac-
count, Increased $1S.00 900. making the total
holding t564 900. As compared with the
holding At the beginning of last July. there
has been an increase OF $55,000,000 .and as
compared with the amount held at the
beginning Of 1895. there has been an I'M
crease Of $70.000,000
The Fifth-avenue bank Of New York has
declared regular dividend Of 20 per cent
and an extra dividend Of 5 per cent.
The savings banks Of Vermont have been
rather severely hit by decision Of the SUI
preme court Of the state Of Wisconsin,
which. has declared some 100000 OF bonds
issued IN that state invalid becaise the
par can't valuation limit was exceeded. The
gytat p1Gt Of these bonde was owned by
xefnent hAnAh 4 ~ hsen : rare thing