New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-08
financial
The Financial World.


sharply It had been reactionary for day or
two. In the forepart OF the week It was very
strong; in fact the advance was n little too
rapid. II was reported that some Of the hank
people had become uneasy at the hot pace. and
had begun to discriminate in loans. This tenn
porarily disturbed the money market and
brought about the reaction in the stock market
Naturally the Flower stocks were the most
prominent sufferers. as in them the advance had
been greatest Brooklyn Traction had gone up
eight points In one day. Mr. Anthony Brady
than whom there is ADLER man In his line
says the stock Viii sell at 125 before It pays a
dividend. Nevertheless II may have 10 rest for
time II only yesterday that the
Financial World" was advising. - a fair spec
ulative investment the purchase OF the per
cent. consolidated bonds around So
The movement Of the market yesterday ind,-
Gated that the expediency Is recognized Of bring
ing railroad stocks to the front again. II Is
judicious. at least. to let others quiet down
Otherwise the bank people may get 10 worry.
ing and make trouble
In the group of coal stocks II Is 70 be noted
that the Delaware & Hudson Company declares
it's dividend for the year 1899 at the rate OF !
per cent. This will doubtless put the stock sew
era points higher than present prices
An interesting event is the large transaction
which may be said to bring the S5S.OOO.000 Of
Ontario and Western stock within sight Of a
dvidend-a small one. to be sure as q beginning;
but having within itself the possibilities u
greater things. Friends OF the company have
purchased the coal properties Of the Lackawanna
Iron and Steel Company In and about Scranton:
which have output capacity OF about 10000
tons of anthracite per annum; but which may
fields estimated to contain from twenty-five
to thirty million tons. The carriage of the out
put OF these collieries will at increase the
traffic Of the o. & w. road from it's present
figure to about 1000 900 tons per annum: and
this Is estimated to about double the net profits
OF the company. with possibilities OF greater in
crease by development Of the coal lands.
No additional charges imposed the o.
W., as the purchase is made not by the
company. but by large capitalists in it's interest
1t gets the hauling OF the coal The surplus
over charges of the 0. & w. was something
over 100000 last fiscal year. which is certainly
not much; but the way Is opened TO q
doubling Of this with prospects for more.
Furthermore. II is to be noted that the o. 4:
w. company is an improving property anyway.
II has been getting into better shape every year
since 1t went into the anthracite field and its
present financial condition is good. 1t is clean
OF floating debt, and in good position for future
improvement The large volume OF the stock
has always been against 1t: but 1t is selling
around 20. which is cheap enough. That repre-
sents about S12,OOOOOO for the equity in the
property.
The large buying Of Atchison yesterday may
be taken to mean that this stock after its re-
cent rest. will swing into the speculation again.
Much has been said in the Financial World"
OF Atchison. and everything said has been veri-
fed by the facts That because the infor-
nation came from the best sources. At the
first. and for a long while only the bonds were
spoken Of The information about those came
exclusively from OF the greatest banking
houses OF Wall Street: which deals only in
bonds. But little while ago. when the pre-
ferred stock was selling about 35. Mr.. Keene
said Hitherto you have written only about
the bonds. will tell you about the stock. BY
the close of the year Atchson preferred Will
become a dividend payer. II will probably pay
per cent during this fiscal year; and II the
next crops are good. per cent the year follow
ing. This stock will go up as Northern Pacific
preferred and Union Pacific preferred have gone
up. You can say now. just as strongly as pos
sibe. that the stock Is going up medaely;
that It Is a safe purchase for any one for i'm
mediate profit. and that it's advance will not
only be large hut rapid. No need he afraid
to buy It, for the market for II will broaden out
so that It will become one OF the most popular
trading stocks on the list" When Mr.. Keene
talks like this he means business He once said
when he was handling Sugar In the early days
Il don't care dash who buys or who ses-it's
going up now. and you can say so" And Il went
straight up 10 9S. SO when he talked Atchison
the other day. II was equivalent TO saying he
was going to back his words with his money;
and every one knows that Atchison did start
right away. and that II had walking legs put on
1t with more go In them than II had ever had be-
fore. The Street suddenly awakened TO tho
fact that the new Atchson was a great prop
erty. earning 100000 a year
The Gould securities are getting life into them
Western Union. for example Here are some
facts about one Gould property-the ST. Louis
Southwestern. At It's las, annual meeting Mr..
Edwin Gould WAS elected president control Of
the property being in the Gould estate. Mr..
Harding was made general manager. He is Of
who know. to be one OF our coming railroad
property. the estimate Of gross earnings being
that OF the companys treasurer:
First Mortgage 4s............. $50 on 900
End Mortgage Income fs....... 100000
preferred stock ................ coCoOo
Estimated earnings this fiscal year,. 10000
Working expenses. 20 per cent, ............. 10000
1n,.r.. on Is, e.. $500 co 'i''"
Interest Income 4s......... $4,000
Total. 10000
Surplus for Preferred stock .... sssoeO