The times., 1899-09-24

The annual report of the Northern Pa
cific is another of the magnificent railway
statements that have been the universal
rule this year 1t shows the following re-
suits:
1899 1898. Changes.
Gross earnings S26 Os 73 S 69 us Inc 81 96S $50
oper expenses. 12,340 ASP 1l,095S71 Inc l25i,0sl
Net earnings s1S 500 22l SO. S47 Inc s74
Ad'ns & taxes 2,926.152 l,4el5o9 Inc. 1929
Total net earns ~ 469 sll 0s9 Ss Dec SSH, 1863
Other income. l,o9l,607 So, 1877 Inc. 114,4lO
Total inconeSIl "a, ,076 sIl .0S5 Dec S2O2 959
Chars and r'tls 6,I40,7g3 6.019,I6O Inc. 6l,6S3
Sur for year s.. eSs 2sS $3.50, ,s75 Dec s264, ,592
Dividends 100000 100000 Inc. 100000
Sur for year 81 O3S 2s8 81 s97 s75 Decsl ss4. .592
Previous spus 3s7 704 ass, s29 Dec I02,I25
Total surplus 81. gS7 3.3s7 704 Decsl e66 III
Res for dv'ds 8.0100 600 Dec 3,000,0 ,009
Pro loss sur sI.a2o,9s7 sSs7, ,7o4 Inc ,OSS, ,2s8
1t will be seen that the payment of ST.
600, 600 in enlarged dividends has resulted
in a smaller surplus for the year. The
stockholders OF the company received $4,-
100000 during the year The surplus still
remaining is S1,420.9S7. Such a showing as
this, gross earnings of S26, eco 00O. net earn
mss " A4OAE NAeiA iAell AlldA dIAOuIlr Slos-
100000, full dividends on the preferred
stock, 3 per cent on the common, and more
than 3 per cent earned on the common
would certainly not have been considered
probable two or three years ago. The more
detailed figures of the statement show that
the company has spent SO, ,54S, 793 for main
tenance of way and structure, an increase
of S400, ,000 and 81, 81, ,597 for maintenance
of equipment an increase of 5000 600. which
ChpEyG arV cCucl1tcfxraIr fbor hA
suits have not been obtained by neglect of
maintenance. The earnings of the line for
the second week of September were $685.
467, an increase of $107, Al. The increase
since July 1 has been SS27, ,209.
There is talk of the probability of a fine
August statement for Southern Pacific The
street has heard hints for several days that
the showing made will be very good one,
suggestive of a much higher price for the
stock. This gossip and the news that the
Huntington -Speyer crowd has secured en-
tire control of the stock has induced heavy
short covering during the week.
The usual story of a settlement of the
New York gas war was heard two or three
times last week. Apparently it win con-
tinue 10 be put out and denied indefinitely.
The surprising thing is the fact that the
rumors nearly always have their effect on
the stock market.
One of the stories of an exceeding Wall
Street flavor circulated yesterday was to
the effect that Mr.. James K. Keene has
been the sole cause of the recent break,
and that he did it out of pique against the
Flower brokers and others. 1t is sug-
gested that when prices were at their
highest few weeks ago. and apparently
bound for still more altitudinous regions
the story was circulated that Keene was
heavily short and squealing to be let out
OF his trouble by q private deal. This
story, il is said, was wholly untrue. as
Mr.. Keene did not squeal, or even feel
uneasy at any time. When he heard it it
hurt his feelings and he resolved TO punish
the crowd that had allowed the fiction to
go undenied. Certain it is at least that
Mr.. Keene has been short of the market
recently, and that he must have cleared
immense profits.
With reference to the recent bad slump
in the United States Flour Milling stocks,