The Washington times., 1901-07-31

nouncement of the ending of the strike
| and while still very uncertain as to the
extent of the crop damage. Indeed. il
| seems probable that the general market
| will be duh and professional for SOME
days, if not weeks, in the future The
| extent OF the corn crop udmase Mlli not
be learned for some time nothing very
| definite can he known until tire Govern
| ment announcement on August 10 and
| even at that time the uncertainty will
not be all over Many careful people be
! ieve, however. that stocks are more OF
! a purchase on the reactions than a sale
on the rallies. They believe that the next
! important movement will be upward, even
! If 1t is delayed for some time
The news yesterday was almost moth
! iU-: London ciu nttIe. Money was easy.
he street during the morning felt tritle
/ less confident that the steel strike would
! he s1ded at once. but there seemed to
definite had been heard when the market
closed. of course. The dispatches from
the West leave no doubt that the drought
| has been broken in the corn belt, and the
| weekly Government crop report yester-
day corroboratod the earlier unofficial
news. Nearly all the crop dispatches
/ make mention of the probability that the
| spring wheat crop has not been very
! seriously DANA ged.
The grangers all opened up well and
all sagged off from a fraction to a point
or more from the opening level before the
close. In no case was the movement big
enough to attract attention. except, per-
| haps, in that of the Atchison common.
1 ms stock was above 16 on Monday at
one time and it went to % and a fraction
yesterday. The extent OF the bulge in
the stock on the good news from the
corn belt and on the fine report of the
companies for June, induced rather more
realizing in it than in the other securities
of the group.
The statement of the St. Paul for the
fNrn .l.Na fs.rz ffn.a -aG.sa
ending June 80. like that of the AtchiSon
for the same periods. is most interesting
on" because of the present fixing of spec
ulative attention on the grangers by the
recent drought in the corn belt 1t may
be stated at once that the figures given
TO the public are entirely and finely salts
factory. Briefly speaking, the company
in the past year. after more than usually
heavy expenditures for betterments.
earned its fun fixed charges, its full
per cent on the preferred stock. and about
figures for the month and for the year
are as follows:
Number of miles 6,5i2 6.sg7 6I5l
Gross earnings. So 555.Ss9 g 419 205 S. $50
Operating exp. 2,427, SOS 2,4ii,5s6 2,265,457
Net earnings. sI.l2slsI s97i,6I9 SLID, 523
July 20 June 80
Gross earnings. 500 02 sil, ss4 0S2 $3s G32
Operating exp. 27.917,505 $50. s3s 23e52 s35
Net earn 10 mo- sl4 S9i 500 sls s54 siiSi7, ,7O6
Both the gross and the net earnings are
larger than ever before. The gross earn
ings exceed those of last year by s4s4.O00
and the net earnings exceed those of 1899
the best previous year for net earnings.
by>S S43, ,0d1. 1t will be seen that there has
been some curtailment of the operating
expenses of the company during the past
year. This does not mean in the least
that the company has been niggardly with
its expenditures. AS a matter of fact.
the ratio of operation to gross earnings
was more than G6 per cent. most gener-
Gus allowance. in excess of any year ex-
cept 1900 when almost 6S per cent was eX-
pended. In other recent years the ratio
has been nearer 60 per cent. The company
will put into its surplus fund another gen
erous amount result of the years
business. 1t will be seen that with earn
ings equal to nearly u per cent yearly on
the common stock during the past three
years. and with its grain business largely
confined to wheat and very little depend
ing on corn, the outlook fer this system
during the coming year is very rosy one.
The wheat crop is not In danger 1t will
be one of the largest on record.
The Wabash statement for the year has
been waited for with much interest, ow-
ing to the activity of the securities of the
in recent months and their much
better position In the market. The state
ment shows a rapidly growing business.
but il may be doubted If it offers any
thing in itself that would warrant the
much higher prices of the securities. 1t
is only on the supposition that the Wa
bash IS TO be made an important part of
a greater system that the advance can
be justified, but this probability being ac-
the earnings OF the company
attqin a new significance. The figures are
as follows:
Month of June 1901. 1900. 1899.
Number Of miles. 2,35s 2.326 2S2i
Gross earnings 81. 4O69l5 sl.3lO,li0 l,25s. 1856
Operating exp. l,o2I,9lo 9ss,l6i I37,i7s
Net earnings. s3si.995 sS7l,9I6 $50. SIS
July TO June 80
Gross earnings 81 53s 429 99l sli,s9S,sI4
exp. Il, ,752045 u,9i7 AS l0.4u,41i
Net earn. 12 mo. s4,7sl ss4 s4.4gs57s ss,9s2 800
The net earnings are q 81 2S4 an In