The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-03
NEWS OF
THE RAILROADS
Buying, of Southern and Atchison
Again Very Noticeable.
PROBABLE SOUTHERN DIVIDEND.
Rails Will be Laid Between sIancbes-.
ter and Petersburg Next Week.
Bridging Main strect-other
Items OF Interest.
PROBABLE SOUTHERN DIVIDEND.

Buvinss Of Southern and Atchison
were noticeable in yesterdays markets.
The buying is presumably based on the
belief that the proposed readjustmen1
of the company's capitalization will put
the common in sight of a dividend
1t has been estimated that by taking
the half fiscal year to December ast,
gross earnings Of this road are goo,
as against s14,252,O0O in 1883. the increase
being 1,65o.0cO or about II II per cent.
while in net earnings the increase was
from, S4,71O,cO0 to s5,39S.C0 OF S6Ss,"O
which is equivalent to IA IL per cent
The seven months to January Slst- sho"
a further gain OF $4,000 net
The Southern industries are widely d.
yersifed, and common cuts only q small
figure in the total. SO that these results
NAV be accepted as fairly rejecting the
changed business conditions Of the great
southern country. It has astonished
many people to learn that the South,
e1n Railway IS not rre-eminentiy a
cotton road. However, the facts are
shown conclusively in a carefully pre-
pared and well arranged table In the
last annual report
With the year now two-th!rds gone,
the indications are that the Southern
will come to June goth with not 1ar
from the full 5 per cent. dividend earned
on the preferred stock, without taxing
into account THE large amount OF net
earnings put into additions and better
u,ents. The gain in net earrings IN
the first half OF the year averaged al
most $4,000 month. If the remainder
of the wear should average say 100000 q
month Improvement upon 1852 the
full wear would show net earnings OF
about 81, 225, Goo ahead of last years 49,
600 or 50, $4,000 in the aggregate. with
probable net earnings and charges.
surplus Of s2.s75.000 would remain APP
plicable to dividends on the preferred
stock This issue stands at s6o.oc1ooo.
and the payment of the 5 per cent. 70
which the stock has preferences. would
take 100000, or 41-2 per cent would
take s2.7Go,cOO. A reasonable estimate
OF this YEARS net results thus would
remain to b., say 4 IL per cent. for the
nref4rred shares after allowing for all
Increases III fixed charges.
WILL LAY RAILS NEXT #WEEk.
work on the Richmond. Petersburg and
Carolina bridge was not suspended on
account Of high water. NO daHlase
was sustained. the stons-work being
out OF danger, and 1t IS expected tiLe
another span will be put up this Week
There remain but four spans to be put
in place.
All Connections between Petersburg anu
Ridseway have been completed and the
track laying, between Petersburg and
Manchester will be begun next week and
rushed. All the grading, With the ex-
ception 81 about two miles of liShe Work.
has been finished between Manchester
and Petersburg and It Is expected that
the bridge over the Appomattox Will be
finished by the early part .nf nextsweek
The contractors for the Richmond. Pc
rersburss and Carolina railroad are at
work erecting heavy iron span over
Nam street, between Fifteenth and Sew
enteenlh streets, and have gotten UP
|stwozof the immense iron Orders on which
the rails will be laid These are resting
on large iron upright pieces about two
feet high. A number OF hands are at
work with the heavy derriclts, and a Da!r=
OF mules are used in doing the lifting.
The work IS going on slowly but 1t wflI
not be long before the street will be
spanned by magnificent ircn bridge.
RAILROAD NOTES
There has been chartered. under the
slawszo OF West Virginia the Pittsburs,s
sconnell.ville and Wheeling Railway Cons
pany. with a capital OF s.Gl1. 0cO The.
company will construct g line fromE Cons
nellaviila 10 Wheeling.
Sd fhipraa - anS coal andI ea1DosaU -