The times., 1899-09-11

subscribed and sworn to before me this 2lst day
| of July, 1899.
(seai) E. T. CAMPBELL.
/ Notary Public.
1t My commission expires July %, 1901.
the United States Circuit Court, that the
! dividend on the preferred stock of this
company may now be declared and paid.
Judge Thomas, in his opinion, stated that
the company has amended its bylaws il
such a way that this dividend is now legal.
He states that the common stock divi-
dend may not be paid until the end of
the company's year. II is understood how
! ever, that some arrangement is likely to
be made by the company to have the COM
mon dividend given TO stockholders by some
/ financial institution. On the whole, the
situation certainly may be said to be much
clarified and much more satisfactory
! The American Steel and Wire Company
has acquired the Crown Point Iron Com
| pany's plant, near Troy, N Y, including
Zo,ooo acres of land, twenty miles
! OF railway, and two furnaces, in addition
to large amount of tenement house prop
erty. 1t has also partially completed the
deal for the purchase of the long -estab-
| lished mining, shipping, and furnace in
dustry at Port Henry, Essex county, N. Y.
| work will be begun at once both at Crown
Point and Port Henry, and operations will
be pushed. At Port Henry $40 men
vii! be employed, and at Crown Point 272
men. The product of the Port Henry and
Crown Point furnaces will be Bessemer
iron from native ore containing AZ per
cent of free iron. Three hundred tons of
pig-iron will be produced every day. The
product will be shipped to the Worcester
plant OF Washburn, Moen & Co., TO be con-
verted into steel billets to be made into
fencing.
The continuance of the increase in rail-
way earnings during the month of August
Is one Of the unavoidable bulish factors
that must, in the course of time have
! their large effect on the stock market
The Financial Chronicle computes the
gross earnings of 81 roads for the fourth
week of August, 1899, at s12, ,102. .o53, an
Increase of 81, ,543, Gil, or 14.62 per cent;
~ roads for the month OF August at
$43, 446, 259, an increase of So, ,4S7, 200 or
l4.46 per cent
The Big Four, after making an excel
lent showing of net earnings for July,
now publishes very fair though not bril-
liant. showing of gross for the month of
August The gross for the fourth week
of the month was $476,60S an increase of
$40,058. For the month the total gross
earnings were $1,364, 100, an increase of
only $50,451. The statement of the North
ern Pacific for July is as follows:
Gross earnings s., $50, ,1s2 Inc. .sl3s, 1854
Net earnings ............. I,l56126 Inc. 1920
Net operating income..... s36702 Inc. 1855
Net income main system. 8590I4 Inc. 80, $50
Total net income. e79,6Ss Inc. 1S,s5s
The showing of the system for August in
gross earnings is as follows:
Fourth week OF August -. 1925, ,l02 Inc .$i1 s3s
Month .........,........20fl,0 l,0z5 Inc. ..2fl, loo
The results of the operations of the Nor
folk and Western Railroad Company for
the year ended. June 80: Gross, $11, S27, ,139
an increase of s591, ,016, and net So S8S, ,0S6,
an increase of s53s,G12 The net income was
$1,662, ,242, an increase of $523, Ala.
The reports from the Wheeling and Lake
Erie road and from the Cleveland, Canton,
and Southern of earnings since the two
properties passed under the same manage
ment have been more than satisfactory TO
interests now in control. For the present
at least the earning statements of the two
properties viii be separated, although the
operation of through trains has already
begun. Within a short time the banking
interests which have financed the refund
ing of the old bonds and practically brought
about a rehabilitation of the properties will
be represented on the board. After the
refunding has been completed the total fixed
charges of the property will be $4,000
The gross income is conservatively esti-
mated for the year at 100000. Should
the operating expenses be 10 per cent of
income, which is an outside figure, there
will be surplus. after paying taxes, of
S340, coo. The full per cent dividends on
the first preferred stock would require only
5000 600, leaving surplus on this conserva-
tive estimate of $4,000 cash.
The New York traction situation con-
tinues to attract much attention, largely on
account of the strength of Manhattan dur
ing the last two days of last week The
street persists in believing that the Me-
tropolitan and the Manhattan people are
making a deal of some kind, and it prom
ises itself that when George Gould returns
from Europe he will have conferences with
the Whitney crowd that will result in
definite arrangement of some kind that
will be immensely beneficial to Manhattan
stock. Mr.. Russell Sage insists that he
still holds all his Manhattan stock, and in
tends to do so, which tends to cast shad-
ow over the Gould Whitney deal story but
does not entirely destroy its possibility.
The anthracite coal stocks are likely to
be prominent in the market in the near flu
ture if careful people who have made ac-
curate predictions regarding them hereto
fore are to be believed The harmony in
the anthracite situation, the demand for
COAL and the advances in price have re-
suited in good earnings for the companies
and will probably have much further eff
feet The securities of lines like Lacka-
wanna, which has paid per cent divi-
dends for years, and Delaware and Hudson
which after paying for many years and
per cent during the worst of the hard
times, is now likely to increase its rate to
per cent again, certainly seem to de-
serve recognition from investors and spec
ulators alike in the present good times for
the coal trade
Chicago Grain and Provision Market
Corrected daily by W. B. Hibbs & Co.,
members of the New York Exchange.
1419 F Street.
WHEAT. Open. High. Low. Clos
RsS ....:..... 4 a. * * 7SsS sss II A..
Corn.
OATS.
RsS.............. asS 81 ~ 81: ss'S sss
Pork.
4ss 3sa 81 81 Sc So 81 81 So So
LARD.
Oct...-,.......-..,- DIT 2zi 02a DIT
Jan ............,.-. Or 0.40 Dab 545
RIBS.