The times., 1899-09-27
THE TINES WAsHNG1oN, WEDNESDAY, SEPTEMBER 27 1899
gold for import was the August statement
of the Atchison system. The figures are
as follows:

| gold for import was the August statement
| of the Atchison system. The figures are
as follows:
1899. Increase
Gross earnings. 59l, ,s45 $5s7. .73s
| Operating expenses. .......... 240l,7s3 s1f9,76
! Net earnings. s.......... 190,062 707, ,504
| Expenses to earnings. 68.S +17.1
Decrease.
| A greater al-round improvement in the
| business of big railway system like the
Atchison was probably never made in the
space of one year The gross earnings for
| the month increased more than Is per cent
| but gratifying as this is, the large reduc-
| ton of operating expenses and the conse-
| quent immense increase in net earnings is
far more so. The net earnings for the
month were increased $50 per cent, and in
place of a deficit after all charges last
year. there is this year for the month sur
plus of approximately S631,S05. This
amount will furnish its share OF the in
terest on the adjustment bonds and leave
O. 40 per cent for the month on the preferred
stock, or at the rate of about 5 per cent a
year There is every reason to believe that
the business of September and of the COM
ing months will also Increase with the
growth of general prosperity in the West
and ON account of the big corn scrop. 1t
should be noted, however, that the large
reductions in operating expenses on the At
Gibson began last year in September and
continued during the remainder OF the year.
This will mean that from this time on
the increases in net earnings cannot pos
sibly be as large as that for, August was.
Last year in September, there was sur
plus of 100000 and in October OF $3.50, GOO
Atchison preferred made a small net gain
yesterday, partly on account of the state
ment, probably. 1t opened at 81 SIS, went
as high as 81 1-2, and closed at g.
Among the gross earnings statements
for the third week of September,
furnished for publication yesterday
were the following Louisville and Nash
ville increase S76,475; from July L. in
crease, 1881, 747; Wabash, increase, $4,000;
Texas Pacific, increase $4,000; Chicago
Great Western, increase, $3,717; from July
1, increase, s214,6S5 The earnings of st.
Paul for the week were mentioned in this
column yesterday. The increase of more
than $4,000 keeps up the unbroken record
made by that system for many months
past As was stated yesterday, the line
is earning at the rate of Is per cent on
the common stock at the present time, with
the best of prospects of keeping its bust
ness up to this record, il not largely sur
passing it.
These three statements of granger lines,
Atchison, st. Paul, and Great Western, all
CT the same most encouraging character,
make a remarkable contrast with the re-
cent tumbles in the market prices of the
group. st. Paul sold yesterday at 126,
within Is of the low price of this move
ment and 10 points below the price of a
/ few weeks ago. Burlington went as low as
! 12S and fraction, and Rock Island to 112.
! Despite the diseouragement that high mon
1 ey rates are to the buying OF high priced
stocks, it cannot be questioned that this
entire group is very attractive to conserya-
! tive people at this time.
| American Tobacco was weak and unsat-
! isfactory, selling off to lis SIS, and only
| recovering to III "a. The Continental
I securities were stronger. The street is
| inclined to believe that there was inside
/ selling of American Tobacco yesterday.
| More talk OF the sugar war and of the
! probability of lower prices for sugar kept
| the street bearish yesterday, and the stock
went off to 40 SIS. II recovered in the
| afternoon to 141 7-8.
Federal Steel common and American
| Steel and Wire common both opened off
and advanced during the day, though the
trading in them was not particularly act
| i've. Tennessee Coal and Iron went off to
1 ia, and closed only fractionally above
! that figure. One of the run,ors in the
/ street was that the bears had singled out
! this latter stock and American Tobacco for
| an attack much like that on Brooklyn
! Rapid Transit last week. The action of the
| two securities lent some color to the story,
! but going short of either of the stocks is
very dangerous.
Brooklyn Rapid Transit has spersisted
in holding up during the past few days
/ in a remarkable way. 1t went only as low
/ as 81 Ia at the weakest period of the day
and the close was at So SIS. Itiwas said
that Vanderbilt interests were buyers of
the stock at times. 1t seems probable
that interesting developments may occur
in this stock in the near future and care
| full observers would not be surprised to
see it sell above par again on any day.
Business on the local exchange yester-
day was active and prices strong Notable
features of the trading were purchases of
125 shares Of Washington Gas at 81 of
217 shares of Capital Traction at SO Is
to 90 7S, and of ITO shares of Mergenthaler
Linotype at 207 ga to 20S IA. The total
value of the business done was over
$60,Ou Much comment is heard regard
ing the continued strength of Washington
Gas at a price only So a share less than
the offer of the mysterious syndicate a
few months ago, and very much higher
than the level of the stock before that
time. Suggestions that another syndicate
or the same party again is in the field.
have been made, but the street is inclined
to believe that nothing more than in
vestment demand ON the basis of the syn
dicate's valuation is indicated,
Washington Stock Exchange.
i Sales-Metropolitan Railroad SIS. $1,000
iM1os 3-s, 50, 9,O00d10S Ia; Capital Traction,
5@93 Is, 192@9S, 2O@92 rs; City and Su-
burban Railroad. lO@37 7-S: Washington
Gas, 125@57; Mergenthaler Linotype, 15@
20S, 10@20S IA, 25M2OS Is; 10Q207 7-S,
10m207 ga, 40@207 ga S. o. b.; American
Graphophone, 100613 IA, 50@13 Is.
GOVERNMENT BONDS.
Bid. Asked
2 AZ 1906 I.-....-............. III lll%
y 5s IsWt Y J.-.- liza III
u s As r 1926. observation-disclosures. l30 1907
u S As c 1926. Observation-Disclosures. 130 I30%
u S 5's c 1901 Q 0F................. Il1x ll24
U S 3's r 1906 Q QF...............,.. 1854 10SA
e 3's X 1903 r G F.........-.,... 10S4 l084
DISTRICT OF COLUMBIA BONDS.
| 6,s 1902 't30-year fundiug'' roId I06 ~