The times., 1899-11-28

Earnings statements yesterday were all
excellent except that of St. Paul. AS is
usually the case when traders are disap-
pointed with the market. the poor showing
of St Paul for October caused more com
ment than the fine Atchison figures and all
the good weekly statements. St. Paul was
weak all day and sold as low as 124 "a,
closing at l2i rs. The net earnings
of St. Paul for the month decreased S229, =
400 thus cutting the net increase for the
first four months of the fiscal year ma
terially. The actual earnings OF the line
for the month were magnificent and it is
only by comparing them with one of the
greatest months in the history of the COM
pany that they can be made to look unsat-
isfactory. The decrease is known to have
been due to higher prices paid for ma
terials. Already the advances in freight
rates have far more than counterbalanced
this factor, but the bear Wall Street pa
pers viii not make any mention of this in
their comments on the showing today.
The Atchison statement is similar to all
that have preceded for several months past
The gross earnings increased for the month
S4lS, ,2l1, and the net increased $421 200
This showing was made in comparison with
month in 1898 when the operating ex-
penses were cut 10 6213, the lowest figure
of the year which makes the immense gain
the more remarkable. The surplus for the
month was apparently about 1870 600
which makes the surplus for the four
months Of the fiscal year in excess of So
100000. The interest on the adjustment
bonds has, therefore, been earned in the
four months, with $1,400, GOO to spare The
line is earning considerably better than at
the rate Of the full per cent on the pre-
ferred stock so far this year. Atchison de-
clined yesterday afternoon with the re-
mainder of the market, but it is probable
that il Will have a good advance some time
during the week on the strength of the
statement
Louisville and Nashville and Southern
Railway both made excellent reports Of
gross earnings for the third week of No
vember yesterday. The Louisville and
Nashville increase was $74, 800 The in
crease for the period since July / was ST.
| I54,5O0. The Southern Railway increase
for the week was So. 1863, and since July /
it was 1921 583 The securities of these
lines also failed to profit by the good
statement Louisville and Nashville de-
clined to 50 II and closed at S5 -. South
ern preferred declined to 81 7-8 and closed
at the bottom price for the day There was
good buying Of each at the declines. but no
oPPaI tHJ SLlo.L 10 dQNdHCe prices. Little
further recession is TO be expected and if
the market is good today there should be a
/ recovery in them. Southern preferred es-
peciaIy, is believed to be destined to sell
at much higher figure before the end Of
the year.
Leather common stock was again at
tackled yesterday by Mr. Keene It was said
also that the Standard Oil crowd was get
ting out of it. but there is no particular
reason for believing this. The price tum-
bled to II, and, although there was heavy
buying at that price, only points rally
could be induced before the close. At the
low price OF the day the interesting fact
was noted that the stock vas selling at
about third the price paid for it a week
or TWO ago.
The Pacific securities were all fairly
strong. the Northern Pacifics being better
than the others. The story that Northern
| Pacific common viii be taken up by its
clique this week is heard again.
The weakness of Sugar was one of the
disappointments of the day It is said that
the stock is likely 10 decline or points