The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-27
$5,6si,iol

depreciation in raw and fin
o, i,hsd nataiill. l,OJ7,s5s
outstanding accounts and bills
receivable ........,........... 5oOCo s.oso.s7:
Net profit. ss.e4s, ~.
DIVIDENDS on preferred. l4aI 81:
Surplus ...................... s22ae, o5j
1t viii be noticed that the surplus
earned, s2,222, ESQ, is more than s 10 per
cent OF the common stock outstanding
President Randolph S. Warner declares
IN the report that the plants taken over
by the company had been in full operation
since its organization, with few exceptions.
| lie also says that owing to the large
amount of finished material which had
Deen contracted TO be manufactured by
| the constituent companies at low prices
for delivery during the last half q. 1899.
the contracts being made prior to the
time the plants We're acquired, the COM
pany did not receive the full benefit of the
hlsh prices rplins during the first few
months of its existence.
Following are among the interesting
gross earnings statements for the third
week CT August:
! Chicago Great Weston
Inird week August. sI26.Sa Dec. $3.50
from July l....-........ 9I0.5sl Inc. s7,7Gl
international and Great Northern
e liIu Weeh Ausust... ,4Si lne.- 6,53S
rom yniy i.--........ 2,1sl, COS Dec. 81 ,S37
The Mexican National
! Ihlrd week August. I3S0sO Inc. a693
from January l.-........ 1904, 692 Inc 7O6, l6a
Missouri Pacific
Third week August. Coz 900 Inc 7too9
From January 1.-....... Ii 929 gag Inc L 6g5 4G3
Central branch
THIRD week August. - OcO Inc 400
FROM January l--....-.. SD 030 Inc. 102, SIS
New York, Ontario and Western
ahird week August. 110,020 Inc. 202g
from July l.::...--..... 706,307 Inc. SI,2I4
Norfolk and Western
Third week August 2gl ass Inc IS o51
from July l...-......... 2005,J 40 Inc. 320352
Wabash
Third week August Sis. I25 Inc. l4I46
from July l---.-.-.... 2,344 ,j95 Inc. 129,32G
Recent buying of ST. Louis Southwestern
issues has come from insiders who are
thoroughly familiar with the property and
its prospects The earnings are now on
such large scale that, while there may
not De dividend on the preferred stock
paid this year, the management will be
compelled in the not far distant future to
recognize the demands of the preferred
stockholders. The completion of che con-
Meeting line between the Chicago and East
ern Illinois and the St. Louis Southwestern
has benefited both properties. The latter
road is getting an amount of through bust
ness which it never carried before The
outlook for cotton in Texas is also improv-
ing, SO that from present indications the
larger cotton tonnage in the coming year
Will help swell the net income of the prop
erty. Economies In operation have been
made effective, which must tell month by
month. FheiJuiy statement OF the com
pany, which has been awaited with some |
interest for several days, is an excellent |
one II SHOWS gross earnings of S467, S35, |
an increase OF SSs,692 as compared with |
the same month of last year, and net s1St,- |
10, an increase of $59,211. improvements |
were S3O,5 S4, leaving surplus of $780, 43S |
an increase of s54, $3.50. The July earnings |
a year ago were the largest for July in the |
history of the company. The percentage |
OF increase in surplus over 1899 is Al 65
per cent The gross earnings of the COM
pany for the third week of August are
also most encouraging. total of S113.-
$50 is shown, or an increase of SOS. The
total gross earnings since July have been
$.95. $50, an increase of s66, 1856.
Developments of Importance in the coal
situation are likely to occur at any and
all times. The export demand for Ameri-
can coal is increasing at such rapid rate
that strong combination has been made
OF the leading coal producers and carriers
Tor economical expectation. Efforts which |
were made some time ago to form COM
:
sailed ,uder the American flag to accom-
modate The requirements of the new trade
viii no doubt be renewed now with greater
success than previously. Bituminous coal
IS the principal article required by Europe
The best quality of this coal is shipped
from the Middle Atlantic ports. particu-
arly from Norfolk, Va. AT these various
points. the syndicate, which has
been quietly acquiring control OF the trunk
I'M aTaI h.
meet all requirements. A combination has
been effected of these various exporting
'oneegns which will be under the domina-
lion OF the Pennsylvania Railroad. Il does
1or naeessarily follow that the domestic
consumption Of bituminous will be con-
rolled in the same way, but a unified in
crest IN the export business will bring
ibout economies which Will be beneficial
III around. Included in this deal are the
principal producers along the lines of the
Baltimore and Ohio, the Norfolk ana
Western, the Chesapeake and Ohio, and
Re Pennsylvania Railroad.
According to official report OF the United
;tates Geological Survey, the output of
anthracite coal in this country in the cal
ndar year of 1899 was 60,514 POI TONS and
II hituminous l72,G0S,917 tons. making
otal Of 233. 123, ilS tons. During the same |
ear the total production in Great Britain I
sas 220.0S5, 1903 tons, or 1907 SIS tons less
han the United States. The United
states exported during that year / 70T, 1856 /
ems Of anthracite az 3 50 per cent OF the
production, and 4,644.354 tons of bitumi-
lous. or 2.3S per cent of the production.
ombining the two articles the exports
we're 2.47 per cent of the total output
treat Britain during the same year ex-
orted IL. 10000 tons. or 1871 per cent of {
he total production. Part of this export ]
rade is shifting gradually to the United Z
itates. The cost of mining coal is now s
o great in England that the higher freight {
ates from this side of the Atlantic are {
argely Offset. During the present year {
he shipments from here will undoubtedly 7
e very largely in excess of last year.