The evening times., 1899-08-30

The stock market this morning had
distinctly better tone, with strong open
ing half point or more in many cases
above the close yesterday, and good buying
during the first hour that carried prices
still higher. London bought Americans
this morning and the influence in this
quarter was favorable. II cannot be Ques-
toned that yesterdays market on this
side suffered from London's attitude and
the fears Of war with the Beers. and as
soon as London seemed more cheer
ful again the effect was reflected
here. 1t is an absurdity such as
only the New York Stock Market
is capable of that talk of trouble in the
Transvaal should depress the prices of
American railway shares. The Philippine
war that America has ON its own hands has
caused 10 weakness, and the Philippine war
has not only more possibilities but more
actual present trouble than the war with
the Beers. 1t seems certain that the Amer
lean market will not suffer further from
this cause The news OF the morning was
all highly favorable. Several good earning
reports including yearly statements of
Colorado Fuel and Iron and of the Metro
politan Traction Company were highly sat
isfactory. Gossip regarding Brooklyn Rapid
Transit was optimistic The wheat market
was weak again. Dispatches from the
South and from Pennsylvania all tell OF a
continuance of the wonderful prosperity of
the iron and steel trade. Contracts for de-
livery in 1901 are actually being made and
prices are even yet advancing.
The report of the Metropolitan Traction
Company was perhaps the most Interesting
matter of market news. The figures are as
follows: Gross earnings, s13, ,15S, ,630, an in
crease of ~, 42S, 156; operating expenses, Sc
4oS, III; percentage for operation, 4S7: net
earnings, Sc. 1888, an increase of s., ,639.-
929; dividends, s2,471, 675: an increase of
S9T1.675; surplus for the year after diyi-
dends, s167,5So The operating ratio, less
than 49 per cent. is probably the most re-
markable showing of the report, though the
increases in gross and net earnings are
entirely satisfactory.
The friends Of Brooklyn Rapid Transit
were disposed to point to METROPOLITAN
fractions operating ratio as justifica-
ton OF their faith. 1t is useless to say
that If Brooklyn is to be operated for so
per cent II VIII be In position to pay good
dividends. The system is now earning at
the rate of $12, 100000 yearly at least. which
would leave $4,000, 900 for the fixed charges
with dividends. Talk of a good report nm
the current business Of Brooklyn was also
heard this morning. The stock continued
to advance during the early trading, and
short covering which began yesterday
was again active. The report of the Colo
RADIO Fuel and Iron Company shows for
the year gross earnings of So, ,f64, ,SO9, an
increase Of $2.6S9.572; operating expenses.
$6.9ol.75S, an increase Of $231OOS7: Eet
earnings of 81, 213,0 ,051, an increase of 1919.
4S5. After adding their income and de-
Quoting fixed charges, there was a surplus
OF $217,520, which, considering the small
capitalization of the company and the fact
that most of the business of last year was
done at much lower rates than those now
prevailing, is a most excellent showing.
The president of the company in making
his report says that he expects to be able
to advise paying dividends in cash during
the present year. The stock was more
active and stronger this morning
stronger during the early trading today.
probably on account of the weakening OF
wheat. The wheat crop is nearly all mar
vested, and there Is now no question as to
its being large enough not only for do
nestle needs, but for the large export busi-
ness that seems assured. Atehison prefer
red. which has been the weak member of
the group for few days past, was the best
of the grangers this morning, getting near
ly point above the close of last night early
in the day. 1t was strong around 66 on
good buying. The outlook for the grangers
is certainly an excellent one, even allowing