The herald., 1897-09-26
OFFICE OF THE HERALD,

LOS ANGELES, Sept. 25. 1887.
The enormous interests of some, of the
larger American railway corporations is
shown in the annual report of the Atchison
system. The total assets of the company
are s415, ,000 900. Last years total earnings
were $50 621, ,23O and the total operating
expenses were s22, SGT, ,1SS, the net earn
ings were $7.754,0i1, and after paying
taxes, interest charges. etc., a surplus of
81, sos, ,226 remains. out of which the direct
ors, pursuant to the provisions of the COM
pany's adjustment mortgages, have de-
clared per cent interest on the adjust
ment mortgage bonds. The company's
mileage Is now 1884 miles, and the first re-
port gives evidence that a firm basis is
being established for future operations.
The capitalization of the company is now
$685. 4s6, 900, and it's funded debt STA, 4,196, loO
Hardly less important than the shortage
In wheat crops abroad, in its influence on
the price Of wheat here, is the partial fail
ure Of the domestic potato crop of 1891
The American Agriculturist reports that
blight, rust. rot and insects have greatly
reduced the yield. particularly In the heavy
potato sections of New England, New York
and other states of the middle and CEN
trail west. although. the situation is rather
more favorable in the northwest, in the
Rocky mountains and on the Pacific coast
The heavy loss Of the past month is said
to have been in the Ohio, Middle Missis-
sippi and Missouri valleys. or the same
district that suffered during the month
from drought, increasing in severity up to
early September. In Ohio, Indiana, Hi
nois and Iowa the best possible result now
is less than half full crop, and some of the
adjoining states make but little better
showing. In addition to drought damage,
the bugs continue to work wherever there
are any green vines left, and in no recent
year has the effort to fight this pest proved
as unavailing as this season. At present
the best prospect is in the northwest. but
as the acreage of this section is barely up
to the normal, there is no possibility of
the marked deficiency in the more south
ern and eastern belt being made good by
northern potatoes. In the mountain states
and on the Pacific coast the month was
reasonably favorable and the previous
high condition of the crop well main
tained. In Canada a good crop Is In sight
east of Quebec, but reports of damage done
come from Montreal and the province Of
Ontario.
y \
The stockholders of the st. Lawrence
Power company of Massena, N. Y. have
voted to authorize an increase of the cap
ital stock from $500 900 to Sc, 900, ,00O of which
S3,0OO,OO0 is to be cumulative per cent
preferred stock, with preference also as to
payment of principal in case of liquida-
lion or other distribution of the assets OF
the company. Thirty year per cent gold
bonds for $4,000, 900 have been placed in
Europe, secured by a mortgage under
which the United States Mortgage and
Trust company OF New YORK ana Mathew-
son & Co. of London, bankers, act as trus-
tees.
The Courier-Journal says that cotton is
still the greatest item of our exports. 1t
brings more gold to America than we get
from any other source, and the prosperity
Of a larger section Is dependent upon 1t
than any other staple of our farmers.
The world consumes 100000 baies yearly
and since stocks are SO low now, not even
10000 900 bales ought to depress prices be-
low figure that would afford a profit to
the producer.
The General Electric company is now
half through its fiscal yeak. but results to
date in net figures have not been as good
as the first half of the previous fiscal year.
If there is no improvement before the end
of the year the General Electric common
stock will earn at least l per cent less
than it did last year. The present business
of the company is understood to be show
ing up very well, in that the foreign COM
pany In which the General Electric COM
pany owns a controlling interest has Sc
cured the underground contract in Lon
don.
4 = +
A Philadelphia Press financial writer
says :Some crop guessers would want to add
sixty or eighty or more millions of bush
els to the estimate for wheat this year and
take off about one hundred millions from
corn, but the fact remains that the aggre-
gate product of the three leading cereals
will be about 400, 900 less, chiefly corn,
than 1t was in 1896. The value of these
crops, expressed in New York prices at
this period of the year, in 1896 and 1897,
is as follows: