The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-09-12
Looks as if the Rate War Was
at an End.
SOON TO BE RESTORED
The Canadian Pacific vii Put Up the
OH Prices on the 25th-The Roa
Has Been Fairly Beaten
in the Fight.

CHIC persistent ucTldnuS lOT uillci- 2
entails over American lines. is at an v
end, and most railroad men are of the e
opinion rates will soon be restored and :
that there will be no further cutting I
of rates. Local officers of the different {
lines have received notification that il .
is the Canadian Pacifc's intention to
restore rates on the 25th of the month, -.
and unless some hitch, which is not
now looked for, occurs, this will doubt
less be done and there viii be no more
cheap rates in transcontinental lines.
When the restoration comes, IL VIII
doubtless be permanent, for the rea-
son that the line, which was
the cause of all the trouble, has been
fairly beaten out on Its claim for dif-
ferentials and will not wish to agsra-
vate congress into enacting legislation
unfavorable to its interests as further
contention would doubtless eliminate.
For this reason local agents are OF the
opinion Vice President Shsushnessey
was sincere when he announced. a few
days ago, that the interstate COM
merce COMMISSIONS decision had been
accented and that there would not be
any demand for differentials.
1t is not anticipated that the Cana
dian Pacific road will offer any serious
obstacles to a restoration of passenger
rates. The decision of the interstate
ommerc commission Is regarded IN
the light OF an arbitration OF the liner
ent questions. The decision has gone
against il, and it is expected to submit
with good grace. This conclusion Is
based on the position 1t tooka the hear
ing of the case before the commission In
Chicago. 1t then took pains to impress
upon all parties concerned the ract thst
il regarded itself as subject to the turis-
diction of the commission and ready
at all times to obey its orders and car
~ out it's findings. 1t cannot now az
ford to go back or that position. FL
forts are now being made 10 secure
Joint action of all the American lines
in inviting II to a conference on the
subject of rates. So far the hght
against the Canadian Pacific has been
conducted s~ingle-handed and alone by
the executive committee of the West
ern Passenger association, and to that
committee belongs all the honor Of the
victory. At the same time the commits
tee would now like to secure the CO.
operation Of the Trunk Line and Gem
trail Passenger associations. 1t would
even be willing to allow them TO take
precedence in calling a conference.
one will be held at an early date is al
most certain. Should Ii result in an
agreement the way will be cleared for
a settlement Of quite a number of other
troublesome questions that have been
disturbing the passenger situation.
In the matter of arbitration Of the
ulIltItIlAltiS W bE dtAc"to NAC NdAho
dian Pacific on transcontinental freight
business. that company was to select
II one arbitrator and the other roads to
h select one, the two thus chosen to agree
II upon the third man. The American
Il roads nominated L. +. Day, general
II manager Of the Minneapolis Il ST. Louis
Il road. The vice president Of the Cana
n dian Pacific has named j. w. Midgley,
II former chairman of the Western
Freight association. The appointments
were accepted, and the two will, in due
course. select a third a
Advance sheets of the Northern Pa
cifhc nnu report have appeared and
show most remarkable figures, many
of which are being severely criticised
Gross earnings for the year were s23.
679, us and net earnings s12, 5s4, S4S. The
figures of operation follow
Gross earnings ................S23,67s,71 t
x Operating expenses ............ n.0so,30
Net earnings Sl2, 5s4,34
Deduct
Additions and improve
ments charged to In
come ......... ........Sol5,f TVS
Equipment reduced In
IA value .......... ...... Z5o,OVv
Taxes .......... ........ oeZ'ep
s1,4s4,5 so
Leaving available for interest
and dividends ..............s 11 ,oss, So
Ieceived .'......... -. ss7, 10
Available revenue s11,s77,oS
Interest on bonds. .s6,07s,1 100
ferred stock dn-
Guiding dividend
payable Sept 6,
1899 ......... ....... S,OOo, oOo
ss.o7s.1s
surn,us - ........ 1897, 81
Surplus. June 80. ISM. 4s9. 80
ss,ss7,7C
Dividend fund reserve......... 10000
Surplus to profit and loss. 3s1,O
No comparison has been made wit
the operations OF the previous year. a
this company came into possession c
the property Sept. 1, 1896, and the hrs
report covered only the operations I
June 80. 1874 period OF 10 month
Included In operating expenses Is tn
cost of 81 locomotives and $40 cars pul
chased during the year TO replat
equipment put out Of service.
At their meeting on Friday he d
rectors took no action regarding an
dividend on the common stock from II
earnings of the past year, and the al
nual report, as adopted, makes no mel
ton of the subject. The president sta
ed to the board, hat IL business pro
poets continue as at present. or ~hlt
there seems 10 be every likelihood.
would be proper for the board, In u
course of O few months. TO give consi'
Grafton TO the question of a dividend
the common stock from the earnings
the current year.
The ratio of operating expenses
earnings is away below 80 per cent. al
this fact has stirred much skeptic
criticism, one expert coming out bold
under the caption ridiculous opera
tro Exnenses' with an awful roast.