The times., 1899-11-06


year in every case The railways are all
still piling up earnings at from 90 to 100
per cent over the present dividend rates on
their securities Better than even this,
however new freight rate schedules are
going into force everywhere that Will ma
terially increase the profits of the railways
in the immediate future. The gTangers
viii haul a large part of their freight III the
future at 10 per cent higher rates than
they have received in the past year or
more. The outlook for railway earnings Is
the finest, despite every adverse argument
that can be offered. that they have ever
seen.
The Financial Chronicle" computes the
gross earnings of seventy-one roads for the
third week of October, 1899, at $40 607, 254,
an increase OF 81. .102, ,2S6, or 11.60 per cent.
The following are the important reports of
gross earnings for the last week OF Octo-
Der received to date and not heretofore
published.
Chicago and Eastern Illinois:
Fourth week October..... SIPS 500 Inc. So, 900
Month ........... AL. .405 Inc. G6, 53l
From July l............ J. 1872, ,02l Inc. 22l, j54
Chicago Great Western;
Fourth week October. I90,515 Inc. h,l1l
Month ................. 627,I59 Inc, 4,152
From July l.............. 232y,022 Inc. 35l, Ojg
Denver and Rio Graude:
Fourth week Octobcr...... 3l5,300 Inc. l4,6OO
Month ................ a5S 400 Inc. ~, 500
From July I.............. 3,4ll,2G0 Inc. 293,I 100
Lake Erie and Western;
Fourth week October... 10 IO5 Inc 25,S34
Month ................... 9js, 400 Inc. -, 500
From January l........... 3,l69,697 Inc. 2g3, ,2s0
Mexican National:
Fourth week OCtUber...... 2J0Sl5 Inc 2l,326
Month ACKNOWLEDGEMENTS. 605 SS3 Inc. 69,272
From January 1..-..-..... 5,122 45l Inc. 701,0
New York Ontario and Western
Fourth weei, . 0etobeT....,. ~ 10000 Inc a2,olo
Month .................... 42GS42 Inc. 90,50g
From July l.............. l,sl2,754 Inc. 355,0ie
Fourth week october..... S.l4O Inc. IOl .951
Month NEUTRALITY-SUSPICIOUS.. l575,l9i Inc. 2d2 O59
From July l.............. 5,SO9l'4 Inc. o44,s96
The Brooklyn statement for the month of
October is. on the whole, satisfactory, as
was stated in this column yesterday, but it
is pointed out that there are some features
of it. and of the policy of the company,
that are deserving Of criticism. The full
figures of the statement are as follows:
Brooklyn Rapid Transit system Gncluding Kings
County 'L'D for October:
From passengers. ......... $957.964 Inc. 81, ,973
From other sources........ Zf,550 Dec. 81
Total................... S975,5l4 Inc. $40 651
From July ! 10 October ! Gncluding Kings
County Il for October only:
From passengers. 50, IOi,9l2 Inc. S34, IFS
From other sources....... .5Ss Inc. 37,T0l
Total $, $4,000 Inc. 81 ,8lO
The management is not keeping the prom
ise which it made some months ago that
hereafter it would announce its net earn
ings at the same time that the gross figures
were made public. During the present
fiscal year four different monthly state
ments have been made of gross earnings, In
which no mention is made of the net re-
suits of operations.
President Rossiter stated in his last an
nual report that the gross earnings of the
present fiscal year would be at least $12,-
COO 600, and that by reducing the operating
expenses to 80 per cent there would be a
dividend earned on the capital stock. Two
of the best months of the year i. e.. July
and August, are included in the four months
mentioned, but the earnings were decidedly
less than was pTophesied. Operating ex-
peDses have not been decreased, partly ow-
ing to heavy expenditures for improve
ments. The necessary repairs on the ,0Or
cars purchased from the Nassau Electric
Company, which were in bad shape Will not
fall short OF $S5. .O60. This is one Of many
extraordinary items which must be provided
for out of the earnings of the property, as
the capital account is pretty well used up
The full statement of the Rock Island
for the month Of September and for the
fiscal year Of the company to date is az
follows:
Gross earnings. ,........ 50 3s3 800 Inc 1852 4G.
Total income. ......,.,... 24lg,4 46s Inc. 3G6 06.
/ Net income .....,....... 992,l59 Inc. lG0,11l
Surplus Observation-Disclosures. G69, G5g Inc. lG5, O3'
/ From April / to September 80:
Gross earnings. ........... 1926, i4G Inc. 76s 81
Total income. ............ll, l,6l0421 Inc. so, Ia
Net earnings. -........... 4,l12,292 Inc. 3s3 I6,
surplus Observation-Disclosures. 2,237, ,2g2 Inc. 4l3 O4
/ The figures clearly indicate, as hereto
fore stated, that the rates and the volume
/ Of tonnage Of the granger roads are boil
thoroughly satisfactory.
The philadelphia committee" having il
charge the Teadjustment of the Kansa
City, Pittsburg and Cuffs financial affair
has made some notifications in its plan
for the reorganization of the compan
which viii be officially published N tn
course of the next few days. 1t may b
stated unofficially, however that the com
pany and its two terminal properties, tn
Kansas City Belt Line and the Port Arthu
Channel and Dock Company, are to be EN-
braced into one property and operate
under one management and one ownership
The committee viii now proceed to reor
ganize the railroad company and the termi
nails, and include in the reorganization a
h. frfs g.F.