The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-06

are still most bulllsn regarding ali oil
them.
Earnings statements for the fourth week
of December are all good. though there is
falling of from the best showing OF
October and November. The earnings OF
nearly all railways in the last week of
December 1893, were immense and also
there were eight working days in that
period, against only seven in the week
just past. Northern Pacific's gross earn
ings for the week show an increase of SEQ
600. Southern Railways gross decreased
SIS G63. The increase for the month was
S225. 63s, and for the first six months of the
fiscal year. 81 ,663 900. The increase in the
gross earnings of the Louisville and Nash
vile for the month of December was $685.
SOC. The gross earnings Of the Chicago
Great Western for the week increased $17.-
76s; for the month. 9.704, and for the
first six months Of the fiscal year, 1896 600.
Colorado Midland's gross earnings in De-
cember increased heavily. II may be men
TONED that the net showing of this system
for tn, first six months will be the best
ever made. the fixed charges Of all kinds
for an entire year being earned.
The net earnings of the Pacific Mail
Steamship Company for the month OF No.
cent monthly statements OF the company
have shown only small increases or even
decreases IN some instances, and this sub
stantial gain was well received by the
friends of the company. Ii is said that the
company win Increase the dividend rate on
the stock TO per cent next May. probably,
as the earnings warrant this advance and
the future prospects certainly are OF the
brightest
The steel companies generally are giving
out semi-of1eial statements as to their
earnings for the past year. although only
one OF two formal statements have been
made. II is quite certain that the steel
and iron trade never made such profits be-
fore in its history. The American Steel
Hoop Company's net earnings for the first
eight months of its existence have been
81 500 600 and the company now has on
hand $2,OOO.0O0 in raw materials and
finished products. q dividend of ! S-4 per
cent will be paid on the preferred stock,
but II has not yet been decided If the com
mon stock snail receive a dividend at this
time The Pressed Steel Car Company has
orders for 500 00O, 900 worth of goods on
hand Its earnings have been phenomenal.
II is said that all the directors are In favor
OF n dividend on the common stock next
month. The net earnings of the American
Tinplate Company for the year were ap-
proximately $4,0c0,0OO.
These figures, with those already pub
lished from the Federal Steel Company,
the American Steel and Wire Company,
the American Car and Foundry Company,
the Tennessee Coal and Iron Company, and
the Colorado Fuel and Iron Company, are
of q character that cannot but inspire
confidence in careful investors when the
market prices Of the securities Of the COM
panies are at such a low ebb. 1t may be
acknowledged that there will be agitation
against the trusts" during the coming
year. and that the effect Of the campaign
against trusts" in general will be felt
by the best OF the companies. The most
careful Weighing of this fact. however,
seems 10 warrant the belief that the i'm
nnense declines in prices already forced are
not sufficient. The earnings already made
by the companies named have been sufi-
cient TO pay the dividends on their pre-
ferred stocks for from three TO eight or
ten years, or TO pay dividends on both pre-
ferred and common stocks from two 10 four
years The securities are selling at from
20 TO par, and the dividend rates already
established return from 10 IA per cent on
the investment at those present market
prices.
There Is good reason for supposing that
the Southern Pacific will he put on a divi-
dend basis In the not very far distant fu-
ture. The present earnings OF the COM
pany equal considerable more than per
cent on the stock.
The meeting OF the Sugar directors will
take place on January 10. The street gos
sip is mostly builish as TO the outcome Of
the meeting, but 1t cannot be learned that
there Is any particular foundation for IT.
The stock was fairly strong yesterday
morning, hut later In the day declined 10
l31. The close was at 15l rs.
Brooklyn Rapid Transit was one Of the
buoyant securities yesterday. advancing TO
"A IL and closing at 70 IA, with net gain
for the day. Metropolitan Traction was
fairly strong. but Manhattan. especially
during the afternoon. was sold heavily and
had a decline TO below 96. There was COW
ering OF shorts in Brooklyn and buying by
Flower and other strong interests. Senil-
ment is still much divided re garding the
probable course OF the stock even among
peopl. that are optimistic regarding the
general market a very respectable minor
ity continues TO believe that It viii sell
much higher. and suggests that the Stand
ard OIL faction is likely TO prove friend