The times., 1899-12-01

Every circumstance in the market stu
alton points to the conclusion that the
greatest activity in the market today and
tomorrow viii be in the same securities
that were buoyant during the early part OF
the week. The street viii become more
and more convinced OF the supreme impor-
tance Of the much talked of railway deals,
and OF the developments in the Vanderbilt
interests in the railway situation, farther
afeld than among the Eastern trunk lines.
1t is now easy to predict, with an excel
lent chance Of being upheld by the events,
that the coming six months viii witness
more great railway developments than
have occurred in the past six years. 1t
will be history making time And all the
events will be of the right character. bet
terments in the outlook and advances to-
ward a more perfect railway system. AT
the end of a long period of economy and
conservatism, of betterments, of ap-
proaches toward scientific railway opera
Jion, there has now come time OF plenty
when the full effects of this fine policy
are being felt in the best returns ever wit
messed 1t is the logical result that out of
these prosperous conditions big railway
deals should develop that will lead to still
further good and still greater profits every
where. The Vanderbuts viii be the chief
figures of this development it may even
now be seen. Their large plans are already
under way. But other interests almost, il
not quite as important will not be behind
hand The Eastern trunk lines, the Pa
cific railways, at least two Of the grangers,
the coalers and the Southern and South
western systems seem certain to benefit
by these operations And the securities
of all these railways will, in all probabil-
ity. advance because of them, and also be-
cause Of their already great prosperity,
TO far higher prices than are now quoted.
1t seems probable that Northern Pacific
common and preferred viii continue the
good advance begun on Wednesday, to-
day and tomorrow. These securities repre-
sent one Of the finest systems in the coun-
try, and the developments regarding them
in the near future are certain TO be OF the
most rosy character. The common stock
yesterday advanced TO a new high price on
this movement, and has now only one more
small squirt to make to carry It to the
highest price of the year, the goal already
recently attained by Southern Pacific and
Union Pacific common.
Two reasons are advanced why Manhat-
tan should be buoyant, the announcement
on Wednesday that the contracts have all
now been let for the installation of the
new electric power on the system, and the
rumor again current that deal is pending
between this system and the Metropolitan
whereby the latter company will guarantee
) per cent dividends to the former.
number Of most important monthly
railway earnings reports, including those
of the Southern Railway, the Big Four, the
Chesapeake and Ohio, and the Canadian
Pacific have been received. 1t is another
evidence of the increasing prosperity of the
general situation that the entire list shows
large gains in both gross and net results
The following figures may be given;
Southern Railway for October
Gross earnings -, ,5Jos OBS Inc. sil4, -
Net earnings >-,.-..--.... l,lV0It11 me- 4toio5O
From July ] to October 81:
Gross earnings 10 S47,1l2 Inc. l26.l lsi
Net earnings. .....--...,. 3,529,33t Inc. 5til52l
Canadian Pacific for October;
Gross earnings. 3,Osi,6O9 Inc. 3g5,sl5
Ne earnings. ............ 1,4ll,0l6 Inc. l55,l1
From January ! to October 81:
Gross earnings. % 2e2,4lb Inc 2339, O5S
Net earnings. 95il,g3S Inc. l. Ij6 l97
Chesapeake & Ohio for October
Gross earnings s-......-... llIb,51S Inc. 81, l0i
Net earnings .-.-..-..s.- 81, 30 Inc. 1,25O
From July TO October 81:
Gross earnings. ....,..... 4456,G99 Inc. 3i9, III
Net earnings. -...-........ l461,95O Inc. 5,66S
Cleveland. Cincinnati Chicago & ST. Louis for
October:
Gross earnings. .......... I5l3,6S6 Inc. 2ls. 40
Net earnings. ............ $40, ,297 Inc. 140 9SI
surplus --.--............ 2oI,S3@ Inc. 1926
From July ] to October 81
Gross oaujnss........... 5G6s,322 Inc. 49,. or
Net earnings. s............ l75s, ,S24 Inc. 232 564
Surplus ......-..-..-.... 1929 Inc. $50 I0l
Minneapolis aud ST Louis for October:
Gross earnings. s.......... Sgs.4Gf Inc 73 3,g2s
Net earnings. ........... 1897 Inc. IS ,gI7
Total income -............ 15s,7Sl Inc. 32,9I7
From July to October 81
Gross earnings s.-........ l.O64, ,5gt Inc. 263. 1856
Net earnings. ............, 45I,l56 Inc. los, 31S
II seems extremely probable that Leather