The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-19

lSiactOry one. II was the theory every -
where among street people. fostcred by the
bears. that the reserve would he entirely
wiped out. The payment OF the Standard
Oil dividend had much 20 do with the IN
expected character Of the figures undount-
eddy. The same condition existed in De
cember when the previous dividend bv
this company was declared. Many srCu-
rites which had been purchased by stand
ard oil men on margins were taken q. .".
cash and the loans Cancelled. This de-
creased both deposits and loans. and upon
these two items hinged the statement The
following table shows the comparison Ht-
tween cash and the Quired reserve for the
week and for the week previous;
March L. Changes
Specie sl47,27o50o Dec. 50. ~
Legal teuders......... $500 Dec. l,5'@,0.H
Total reserve. .seoG.2o7 100 Dec. IS $3.50
Reserve required against
deposits ............ 2o3 52o675 Dec. 3 s}5, 80
Surplus ............ S2.6s6l25 De. s., @s9, go
As stated heretofore in this column, this
statement is probably the last that will
show any important decrease in cash, II,
indeed. next weeks statement does not
make a good exhibit in the other direction.
Tennessee Coal and Iron may be one OF
the features OF the coming week. The
declaration of the dividend on the stock
was unexpected at this time. though It
has been generally believed that it would
come in the near future. The street has
not had the opportunity TO discount the
event The full figures Of the annual re-
port are as follows:
1909 Charges.
Profit mining and
transportation 81 .stil Inc. 81 90 80
Profit on s. T. bonds. 1926 Inc. l.526
Total profits .....sl .ss5 7n5 Inc. 81 .O42. 322
Interest aogued......... 5'7.s3- Dec. Ss'toz
Balances ..............s1.2s7s7a mc..sI .oso.924
Guarantees ............. 76aG2 Inc. 56e62
surplus ,..............SL2loeu Inc. S.oe,962
Profit ON purchase Rob
mine ................. ...... Dec. 5000
Surplus ...............s ,2loou Inc. so5s o52
Various losses. ........-. -..... Dc. 2n9'5
Surplus ...............Sl. 2lO9lI Inc. sas5, a35
The bonded debt of the company, minus
sinking fund credits IN 1925 war S9,l19.-
99S. In 1899 there were retired $s3,5O0
bonds Of various constituent companies.
and there was an increase in the cinking
fund Of securities available for the pur-
chase Of bonds 10 the amount Of slS, 07S
a total Of $40. SIS, which left the Let
funded debt on December 81, 1899, S907S,-
420. These figures. however, do not in
clude the 81 100. 600 per cent bonds of
the Alabama Steel and ShipbuildinR Com
pany, on which the Tennessee Coal and
Iron Company has guaranteed principal
and interest. In the course Of the year the
company purchased the property of the
Sheffield Coal Iron and Steel Company
g. = a M ~
pany's floating debt shows an increase for
the year of 1868, SO1. On the other hand,
there has been an increase IN quick assets
of 81 ,025.324, in slow assets Of S2l, 563.
and in ultimate assets Of 1885, 1885, a total
increase Of 81. 334,67 in value of assets,
or a bettcrment Of the companys position
as to floating debt Of $685. 81. The float
ing debt amounts 10 Sass ,9s4, but the
total assets against IL amount to So, III. 235.
One Of the features of the market las
been the heavy buying Of Mexican Central
securities for the pools in them Houses
with Boston connections have also been
large buyers OF the FIRST income bonds. At
the rate of increase which the Mexican
Central earnings are now showing there
will be a diyisible income for the first
income bonds in the first half Of the cur
rent calendar year Well informed peo-
pie believe that In July or August the d.
rectors Of the company will make some
interest payment. The statement for
January, just made public, shows gross
earnings OF sl,53S ,297. an Increase Of
$3.50 737 and net income S527 055, an in
crease Of S111, 200.
II is stated that the recent election Of
Vice President $ NJ. Provost, OF the
Railroad. as a director Of
the Morton Trust Company means that
within a short time the latter institution
will become the New York transfer agent
Of the railroad. II This is done Pennsylya-
mia will be eligible to the regular trading
list Of the stock exchange. II has been
kept in the unlisted department hereto
fore because OF the management refusal
to establish A transfer Office in New York,
and this fact has initiated heavily against
its popularity with spectators. All but
l 200 shares Of the Pennsylvanias new
Sl3. coo 600 stock issue have been sub
scribed for by the shareholders.