The times., 1899-10-30

issued. The Reading result of operations
for the month Of September 1899 and for
the year from July J. 1899, is as follows:
Railway Company. September;
Receipts ................S2 2f4,774 Inc. s254,174
Expenses ............... 1924 Inc. 236,lSs
Net eamings......... ssg2,s1 Inc. sIso85
Coal and Iron Company:
Eet @ earnings S25$59o @ Inc $llso52 SIS o52
Charges and taXes....... 152o9O Inc. $3.50
Railway Company July ! to September so
receipts -.....-----.--.- -So.52lS2' Inc. SS53,ll4
Expenses -........-..... 4,oi7,es3 Inc. S2s,23a
Net eauiuzs.........s2. 47s, l87 Inc. slo8,s75
Coal and Iron Company:
Net .................... S687 ass Inc. s2sl, ,816
Net earn. Of all co's....ss, ,l702l6 Inc. S3g6,960
Charges and Jaxes....... 2.SlGOg0 Inc. 1881
Surplus............... Ssj4,2l6 Inc. $349, ,482
In point of gross business this statement
is by far the best in many years. This
speaks exceedingly well for the coal and
general business of the road. An i'm
mense amount has been expended for op-
GRAFTON, including renewals, so that the net
increase is not very large. A fine increase
in the surplus has been made, however.
The Burlington statement for the month
Of September is as follows:
1899 Increase.
September gross. 81 652,25S S722,5o5
I.Atetis's -----.-...-..-. zbos-Z4s 42iZuz
Sne-tweiilh annual ehes.....-.- $4,000 10000
Decrease
The Burlington is more than keeping up
with its fine previous record of increases.
The efforts in all directions toward an
advance in freight rates promises exec
lently for S9uch larger earnings in the
future than in the past. Despite the fine
showing now being made everywhere it
has been recognized on every side that if
rates were anything like those in pas.
periods of prosperity the story wOIld be
a far brighter one. The chief problem in
railway operation Of recent years has been
the continuously lowered rates to be met
with corresponding cutting of operating
expenses. The remedy for the movement
lies not in cuTtaiIing expenses, but in ad-
vancing freight rates. The cost OF nearly
every commodity has been enhanced and
there is every reason, the railway men
say, why freight rates should also be
higher, This sentiment is growing with
the result that the railway men are going
TO get together and put up rates. In the
Southwest the Kansas City, Pittsburg and
Gulf has been q disturbing factor, but the
outlook for reorganization in this direction
is good. Something practical and definite
in the way Of better compensation for the
railways will be great boon to their
shareholders.
The American Steel and Wire securities
have been the one disappointment during
the past week. 1t is an unpleasant thing
to say TO the immense number of people
that hold the common stock of Mr.. Gates
concern, but there is certainly no good rea-
son TO be optimistic regarding the stock
The management of the company is again
practically notifying It's stockholders that
their interests are not to be considered in
the transactions Of the concern. AS has
been the case before in this company the
common stockholders are to be utterly
ignored il all the important matters ap-
pertaining to the property. Insiders have
stated repeatedly that the company was
earning from 10 10 20 per cent over and
above the preferred stock dividends 1t
is now stated that the company will erect
ten million dollar plant a portion OF
which viii be taken out of the surplus
earnings. Ii is also stated that the new
plant is to be located in the vicinity of
Pittsburg, by which action the company
viii probably invite the threatened ep-
position of the Carnegies. Insiders having
sold their common stock, retaining on
their preferred stock investments. are not
at all concerned over the prospects OF the
common stockholders.
Chicago Grain and Provision Market
Corrected daily by w. B. Hibbs & Co..
members Of the New York Exchange.
1913 Street.
WHEAT. Open High Low Clos
Dec. T04 T04 Gass 70
May ........,...... i3* 78E 73H 73k-% !
CORN.
May ............... OK 50 8& ak
OATS.
Dec................ 22sl-H s22s 224 22E
May. y.............,.. 2iA 248 2l14 244% |
No oOs en- oo- o,o