The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-01-11
..,,ye CORPORATION PROFITS.

--.han0a mas, tOhoOpuo'hats s's'hs -
hhso,o, falling, rs was expected after the
in'ea,h. YEAR. The S15, 000, 900 increase In
turho..d reserves OF the banks has made
the .o,o more abundant than over. and
mono, :. land nj remunerative rates. Never
nAu an sIens appear of any great ~specula-
te .,ocks Investors are willing enough to
y" :, high prices, securities of an unQues-
v,s oharacter, but those whose value 10 In
p o doubtful they lot severely alone. This
",,lon Of things will pr evail until . general
D-ss,.men, ia business becomes visible. and
'awoers OF capital feel assured that they can
".,.,, risk IL In ways which they now avoid.
gt. ,sluction. on Wednesday. of the Della
...nd Hudson Canal Company's dividend,
,,ou ; per cent. per annum to o per cent per
..rum. and the consequent heavy fall In the
-,,tst price OF its stock. amply Justify the
'.r,Ion displayed by those who are asked to in
s., their money in this class Of enterprises.
-,s,b.r for income or on speculation. The
.nmnapv's capital 10 $40, 900. 900, It's funded
s.h, 81. 900. 900, and tho So, 500. 900 rentals Of
,...sd railroads, which It agrees to pay, repre-
80, a. i per cent. DER annum. q principal of
s,n moo 600 more. To meet its fixed charges
.,a earn dividends II does n businsts Of S2O.-
ooo 900 a year. and On this sum. 1t 10 evident, q
,erv small percentage OF Increase or decrease OF
,,penses makes n very large difference In the
amount left for the stockholders. This last year
and the year Oe.'r' !. 4. 'Ain'"ss nave oeeh
le' th"h s'"'Ste"' =" '' w" cont
on tie s'ocN' Wv " aue't" "a' oeo" naooteo
whether Tue u'e.'V,' y ne'e.tneiess'
10 have continues W u.'ueuu' .nk'os
enough W "'N' :. w ',''" - earnings
Of previous wars " on'y : per cent vas
dlridei out" " mu." y auVun' earned.
Inc etp,an",,ou W" .ne'
hesu'p'u'' p"'' 70 "ks'"st tno
Impairment VI $50 y e,naus,'on
OIL the COMPANY ; .V"' no' aitoestner
SATISFACTORY wi sue" u" IMPAIRMENT eou'o 90
~"er "et = INV W ''no,@
prrpo'A'"a'" pr'to Nv e"pi'ai u each FLOCK
houe,, nv ''"u.'"s tnp " ~ u snaies
Heo'u"sN. .""'".""'"N q ..'e.Ne LOT the
purpose 70 DC u'eu ou.y a tue ma. winding up
otthe cohp'",' 20 pu''o unnecessary.
lhs' 80 y sc,.'eu among
Inc soeH"o''t,s 'ee u u they are
eon'eu.eu 'oo'' ."' tt". ~ complain
In'po'n, '"o puoue na' 'ho
oOmpa"' > p.ee.,'ue que anu
mat 'h0'e'ole' 'e 500 ssnnot oo reNeo upon
"pa' "''o'" 1ho'o 'h"n THIS, the
moderate amount u us earnings ior n long
sreso OF years amply reiu'es 'he charges made
against II "nu us te''o" coal MINERS OF being
srseuy anu eA'oi''"h'.e' ror inc last twenty
Jea's"n y never ps'u o'er , Der cont q year.
nmAn' ware II q pa'u. as " 10 now paying
less Anu !" some years ! mas PAID hothinR al
All Inc ZANE hlhs may DC SAID substantially,
ottneotner eFe". m'h'hg' Manufacturing IMAM
CAL ana rA"i"au corporations whioh nave late
" oeen the OBJECTS OF much attack oy dema-
sosue', IT." W '"es' 'he'r pronts nave been
h'Se' 'he' ha'o mover oeeh excessive and. on
meA'e''ge' ,ncy nave oeen very small.
u oo"V'a.h.is very generaiiS current that
Wy re'"aio u ous'neS "n'ch mas oeen snx-
~uhJ awaited ever SINCE the crash OF 1898. and
Snieh was connueht'y expected TO follow the
oe'ea'ol the siiVerites AZ the presidential cleo
uon last november stili postpones It's coming.
b' some Inc oiame Is iaid upon the currency,
"o'ueis apon .ho uncertainty OF ruturs tarin
"s'A,'ou. u W otners upon the threats OF
as"On !, .onkross ,eAoinR 10 foreign war. AL
tne'etn'nss' ss wei n the continued agitation
"l rvs s!'er coinage. ~netner openly or dis
susea ~ INTERNATIONAL oimetaiiism. undoubt-
wy ~ "oro y 'ess Oh tue e'h tendency
"sHoea 70 tnen' out underlying everything
sse' IL = ieeing OF insecurity on the part OF
oNue"oi capital, ana their rear that II they In
'e' NO" enterprises they may 'ose their
800 p'oht'' y onn, seurfenes. 'hfin.
.eS'''~'on' VI W aireo' eohhsen'ion
poop1o u u 'nose approve
-e "a''@'o upou "Vesseu copitai which mas
80 oeeome q POPULAR forget that' "hiie
~N'm~' 20 sseoess'ui US 70 tne investments
"eo' ""'e' 'ne' VIII eventually oy their
,~'o',' MAKE iu,,hef successes OF the Same
A1 ,npo,e.o,e' men VINO nave bought ana
49, 80 "'H.',ur ouiit sugar rehheries' or
- ~ uViIArSih gas WORKS ana gas
- 80 ne'p'o's 10 resist aggression
20 9 put DeSohd their power
-. - 'ue, must submit tothe terms
nI,,.s ~" % eonu'tlon OF pong per-
90. I. IN -Srt !" usei' Inc future now
c,n y" then cohtloi. Unless they
.,n,,sI not "hen they invest more
g. .,H"'i way tney VIII % protected
I..,"' 'he' VIII Keep u whero II Is.
r..n ma eompe'a man TO accept Tor the
49, r.op.f'' Tess imam he THINKS he ought
ro,hi.@ . "e must either take thAt or get
w. - cannot compel him 70 DO u
.V'e ''s''i open 10 MIN.
ana.N .h'uE 'hat people forget VINO DC.
- eAee'si'e the income which certain
,., 49,, ,eeee eap'la' are yielding. and In
...' oe ieauced 70 accord with their own
.hr. 70 sutHc'eht' is' That the pronts OF
n.r,'"n' eoneed'hg hat they are excessive In
....n. ~ are onset by numerous other