The Washington times., 1901-09-22

| the bears Instead, every week and every
month shows the largest earnings on
| record. The reports OF the southern unes
| are especially interesting. The Southern
Railway for the second week of Septem-
| ber earned s13l ,296 an increase of so0,s6i,
and from July i earned gross sI,2SS,bi3, an
| increase of si5S. 403. AT this rate OF in
| crease the year will show a gain of
| 81, 3O0. 600. The Chesapeake and Ohio dur
| ing the week earned $3.50 AN increase
| of 81. 1S5, and during the year to date
! A continuance of this record viii make
| the increase for the year 81, $4,000. The
| Louisville and Nashville earned for the
! week S59i7l5, an increase of ssl, l,695- From
! the beginning of the fiscal year II earned
! $5,S79 $50, an increase of 1913, ,454. The same
rate Of earnings will make the Increase
| for the year something like S3,4p,Wo
| These increases compare with a year
| which was by far the best ever witnessed
| by these lines. The report Of the Chesa-
! peake and Ohio for the full fiscal year
! Just out shows this in a striking way. Its
! hgures are as follows:
Gross s1s.33d, ,541i Ino. 81 1868, III
Expenses s.565,SsO Inc. $50, COS
Net ;,............... 5,so5,es1 Inc. lilo. 87s
other lncome....--.. 14S-S25 Inc. ], ,554
Charges and tax. 3,95S,6Ss Inc. 266.6 .615
Balance ............ 2.OMs97 Inc. S45,815
Dividend ............. 6o5.2SS Inc. 10
New equipment...... i,So.Ti Inc. Inc. 547S s554 as
Balance .......... 92.4ss Dec. 1lo1n
Previous surplus..... 1-06o,34l, -Dec1,0S7, ,2Ss
Total ............... 1152,779 Dec1, ,197. .4O9
Sundry adjustments 80, ,453 Dec.1, ,199, ,394
p & L. surplus. sl,oe2,s26 Inc 1885
The Southern lines are not in any way
an exception to the general rule however.
In fact. the reports of the Southwestern
lines, of the anthracite coal lines of the
grangers, all show immense increases
every week and every month over the fine
figures of last year. And Furthermore the
experts promise that this will continue
for some time longer. i4
As showing the present condition of the
iron and steel business. which the
prosperity of the country so much de-
pends. the following summary of reports
to the Iron Age" from leading iron and
steel centres may be given:
'Chicago-A large volume of pig iron
business is reported. Bars have been
purchased literally. The demand for
structural material. plates, sheets, and
other forms of finished products is satis-
factory.
''Philadelphia-The demand for pig iron
is active. Other departments report a
satisfactory demand for all forms of iron
and steel
"Cincinnati-The pig iron market is in
fair condition. the situation being strong
one. The market for plates and bars is
steady and unchanged.
"Cleveland-There is n better tone in
the pig iron market. The billet market is
strong.
'Birmingham-The pig iron market has
a better tone.
.'Pittsburg-The Bessemer iron market
IS slightly firmer.
st Louis-The pig iron market is in a
sat iSf
great demand.
"A comparison in prices shows the fol-
lowing changes: Advances-Old steel rails,
Chicago Si3 to $3.50; old steel rails. Phila-
dephia. $3.50 to Sl6.15; old iron rails. Chi
cago $2050 to SCI; heavy steel scrap Sl2
to Sl2.5O Declines-Refined iron bars,
s1.62k to s16o.
There are signs that some of the in
dustries are not so prosperous, or perhaps
Il might be better written. that some or
the new Industrial trusts are not making
a success. as yet. AS a matter of fact II
is not unlikely that the end OF the pros
perity wave. when II does come. will be
hastened If not actually brought about
by the troubles, financial and otherwise,
of these concerns. The annual reports of
number of them have made bad show
ing. Such reports are not yet numerous
enough to be considered necessarily more
than sporadic, but the wide difference
between them and the railway reports, is
at least worthy of comment The indus
trlal securities as a group are HluCii less
attractive purchases than the railway
stocks. This is true always, but especial
ly true at the present time. The Repub-
lie Iron and Steel Company, the Ameri-
can Smelling and Refining Company, the
American Linseed OIL Company, the
Standard Rope and Twine Company have
all made more less discouraging show
ings and now 1t is said that the Ameri-
can Ice Trust will publish very poor re-
port The fact that the Amalgamated
Copper Company has reduced It's dividend
is very good evidence that its story would
not be an especially rosy one, If 1t were
told As a result OF these conditf6ns the
market has witnessed sharp declines in
prices in the securities of one of these
concerns after another. Amalgamated
Copper and American Ice have been the
stocks that have gone contrary to the
general trend of the list during the past
week. .s.-...l. l...