The herald., 1897-10-20

Guarantee fund notes.......-.. $500, 10000
Chicago and ST. Louis Ry. Co.
first mortgage bonds. .......... 1900, O00.cC
Equipment Trust bonds. series
ACKNOWLEDGEMENTS. 1850 900. 0C
miscellaneous unassented
bonds OBSERVATION-DISCLOSURES. 693, ,25O. OC
IOIal .SI lSO, t1UUO
The capital stock is as follows:
common .SlO1,VVV.UuVU
Preferred NEUTRALITY-SUSPICIOUS.. III, ass 00.O0
President Ripley of the Atlantic and
Pacific says of that company:
A special issued by your directors under
date of February II. 1896. stated the con-
clusion of negotiations for the purchase
CT the entire issue OF SIG, ,000 900 Western di-
vision first mortgage per cent Atlantic
and Pacific Railway company bonds,
for which this company paid SS,-
400, 900 of its general mortgage bonds
and 81, 900 shares OF its preferred stock from
the bonds and stock reserved under the re-
organization plan for the acquisition of
auxiliary lines. The company also paid
600 in cash and assumed the outstand-
Ing obligations of the Atlantic and Pacific
receiver The transaction has since been
fully been carried into effect by the COM
rletion of the foreclosure of the mortgage
securing said bonds, the purchase of the
mortgaged estate at public sale and the
organization of corporation to take over
and operate the property The new COM
pany, entitled the Santa Fe Pacific Rail-
road company. was Incorporated under act
of congress and took full possession on
July l, 1857.
Immediately after the consummation
Of the agreement of purchase the property
was inspected and arrangements were
made for commencing the work required
to be done in the Improvement of the
physical condition of the line This work
is now under way and considerable pro-
gress has already been made.
The traffic of this line is steadily increas-
ing. and the management of the Santa Fe
Pacific railroad as a part of the Atchison
system will promote the development of
local business as we'll as insure the econom-
ical handling of through business.
The income account of the receiver of the
Atlantic and Pacific for the fiscal year end
ing June SO, 1897 shows the following re-
suits:
Gross earnings. SO. .597 S4S. 06
Operating expenses 80. .I.! 2, ,S04 z35. 62
Net earnings ........i. ...........S 793,612.44
Taxes paid. $500. .......l II. .s1h2. .940.13
Rentals, including proportion
Mojave division........ ZIG, ,3S219
S69 1922 80
Surplus ........................S 424 II
i \ \
An arrangement has been made with
the Southern Pacific company fer the per-
manent exchange of the lines of tile New
Mexico and Arizona railroad and Sonora
railway. owned By the Atchison, for the
Mojave division of the Santa Fe Pacific
(240.06 miles,, owned by the Southern Pa
ciic. and operated since 1884 by the Allan
tic and Pacific under lease from the South
ern Pacific. Agreements for the purpose
of consummating this exchange are in
process of preparation, to which the as
sent of the Mexican government is neces-
sary under the provisions of the Sonora
concession. The mileage of the Atchison
system will then be as follows:
The Atchison. Topeka and Santa
re Railway. ..............4 ,o42 u
Gulf. Colorado and Santa Fc rail-
way ACKNOWLEDGEMENTS. 0S7. 60
Southern California railway. 49S. "A
Santa Fe Pacific railroad. ............. sos. Sc
Total ACKNOWLEDGEMENTS. {, ,934 &c
The following figures. applicable to the
Atchison system including the Santa Fe
Pacific railroad and excluding the Sonora
railway and New Mexico and Arizona rail-
road, will constitute the basis for future
comparisons:
Miles of road .................... 1884 90
Gross earnings for year end
ing June 80, 1897 ............... .$S3 633, $40 12
Gross earnings per mile ........ 4,S5043
Fixed interest charges per an
mum BOA, 500. 10
Fixed charges per mile per an
mum NEUTRALITY-SUSPICIOUS.. 5.O24 505. 90
Per cent of fixed charges to
gross earnings .................14.93 p. Ct
Per cert to gross earnings of
interest on all funded debt Gn-
cludng per cent interest on
adjustment bonds ................210 90 p. ct.
The annual report Of the San Francisco
Stock and Bond exchange shows transac.
tons for the fiscal year ended September
business in stocks and bonds, $lS.07S, 81 .65;
an increase of s5O14, ,o77.02 over last year.
The transactions for the past fifteen years
have amounted to s1oS Ca5. 1928
4 + =
1t is worthy of remark that the transfer
o. currency by registered mail, recently re-
ferred to in this column, has reached, ac-
cording to eastern accounts. quite large
proportions. The economy of this method
is greatest in the long distance transac-
tions. A saving of nearly one-half is thus
effected, or, say. the difference between
20 cents per $1,000 for postage and registry
fee plus 90 cents per $1,000 for insurance,
against s1.50, the bankers rate by express.
+ +
Says the Economist: 1t is a rather nice
question for the bulls whether there is time
between now and the inevitable period of
wavering confidence that will come about
the time of the assembling of congress for
another important upward movement. 1t
Is rather probable that there will be one
because of the excellent condition of gen.
eral business and the great power of the
leaders in the recent bull speculation, who
certainly have not parted with all their
stocks and many of whom profess not to
have sold anything. But the great enthu-
eiasm Of the first onset Of the bulls is gone,