The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-17
JUST COMING MONEY
NORTHERN PACIFIC SEEMS TO BE
REVELING IN PROSPERITY
JUST NOW.
is CAUSING MUCH COMMENT.
BRIEF REVIEW CT THE EARN
INGS AND OPERATING
EXPENSES.
EVERY wEEh SHOWS INCREASE.
Reduction in Rates Announced oil
Lumber and Ore-FreSh Rail-
way Notes.

In Eastern railroad and financial cir
Cles the affairs of the Northern Pacific
road are the chief topic of interest, and
the excellent showing made by the
company, hardly more than out Of the
perplexlties Of the receivership, is be-
ing favorably commented upon. The
gross earnings of the company for the
third week of November were $771, PAP,
an increase of $334,77O over the same
week during 1896 The gross earnings
for all November were $2,569,389, as
against $1,G92, ST. for 1896, showing a
gain Of $93G,512.
From July to Nov. 90, the gross
earnings amounted to 81 ,533 905, an in
crease over the corresponding period
in 1896 of exactly 1874, 899. 1t will cas-
lily be seen, therefore, that for five
months Of the company's fiscal year.
the gross figures are 81 ,533, sos. If to
these figures be added the December
earnings, it may be estimated that the
total will be not less than $4,000, 900.
AS shown by late reports the operat-
ing expenses may be figured at about
so per cent, which will leave the figures
representing the net earnings at $780,
600, the fixed charges for six months at
100000 per month, amounting to $3,OOO,-
GOO being subtracted will leave So, $780,
coo. This sum, earned in six months,
will be sufficient to pay the full per
cent on the preferred stock for the
year, and 100000 for the common
stock.
Notwithstanding the absence Of the
Northern Pacific officials in the East,
the opinion was hazarded here yester-
Gay that if the business Of the road
keeps up for a time, and there is no
reason why it should not, the company
will earn enough during the fiscal year
to pay per cent on the common stock.
The phenomenal growth of the bust
ness of the road within the year Is
shown by a comparison of the figures
of 1896, the increase extending to 100
per cent for the week and 81 per cent
for the month. The men who are in a
position to know assert that owing to
the large results which have already
been accomplished in securing greater
economy in operation, a considerable
part of the gains will be exhibited in
net earnings.
1t is urged as being fortunate that
such gratifying earnings should be
shown at time when spectators and
investors alike are in a better mood to
appreciate the value of real economic
conditions. The quality of the demand
for Northern Pacific issues both in this
country and abroad is cited as an en-
Couraging feature in the general finan-
cial situation and now that the eXpec-
tations upon which this demand was
based are in q fair way to be realized,
II is almost certain to stimulate inter-
est in the securities of other railroad
proerties which, like the Northern Pa
cific, are getting back to successful
operation after discouraging set-backs.
The very excellent showing made in
New York last week, when President
Mellen laid before the directors a guam
tity of figures, and when a quarterly
/ per cent dividend was declared on
the preferred stock, has had it's effect
on the stock Of the company In the
market.