The Washington times., 1901-07-28

!
| are given below; the crop figures being
| In millions of bushels:
| Year. Corn trop. Gross earnings
4 lsi5. 5................ 2,I5l SIS 800 60
| 1916 e,2e3 So62l,O0J
| lsVi.. i................ ,@3 392i3,Vo
| le9e.-...-......-.. ,g24 R5l3,bD
| isg9- g9-.----..-....-. 2.O1S 4b,252.tO
| iScD ..........-.- 2.l05 o4,3F,Vot
The earnings figures are given for the
| fiscal years beginning with July l of the
calendar years noted. Thus the earnings
| for the past year, S5+i.i,000, are given
| opposite 1900. The corn crops are given
| for the crop years, of course, but prac-
| tically the crop of one year is hauled
during the fiscal year beginning with
July, so that the arrangement of the .ig-
ures given is the most accurate that could
| be made. 1t will be seen that the gross
earnings of the Atchison have almost dou-
! bled since the year 1S35-lS.T. the increase
being fairly regular from year to year.
| The corn crop of 1895 was almost iden-
| tical with that OF last year. In some
years the crop has been larger and IN
| some less than it was last year The in
ference is unavoidable. The corn crop
has furnished but n small part of the
business of the .Atchison system during
the past half decade. The ngure is per-
haps about per cent. The increase in
the growth of the system has been due
10 the settlement of the Atchison terri
tory to the general prosperity of the
country, and to the good management of
the railway. The system comprises 10
per cent more mileage now than it did
nve years ago. which has not been taken
The showing, however, would be only
slightly less striking if the increased
mileage We're allowed for.
Henry Clews. in his weekly letter after
pointing out that the recent break in
prices was almost inevitable, has this to
say regarding the crop outlook:
AS to the crop situation. the injury
nj
cipally confined to corn, although slight
damage to spring wheat Is reported in
some sections. The most serious harm
has fallen in the States of Kansas. Ne
braska, Missouri. and Iowa. where the
loss. according to conservative estimates,
will not be less than 800. 900 600 bushels. In
the whole country the entire damage
might figure between $50 and 400 millions
in which case we should have total crop
of about LOO millions. 1t remains to be
seen how much of the damage will be re-
paired by subsequent Improvement in the
weather. Certainly the injury thus far
siderab BILE extent, discounted in both the
grain and stock markets. The extremists
of both sides have had their say and it
seems as If both markets had settled down
to the real facts, which, as usual, lie be-
tween the two extremes.
Last year, according to the Depart
ment of Agriculture, the money value of
the corn crop was s75l, ,0o0.000. or about
20 cents per bushel, these presumably be-
ing farm values. Should we realize
,IGO, 900 crop it would only have to sell
at an average of "a little over A cents at
farms to bring the same amount in value
as last year. This means that an advance
of about cents per bushel over last year
would amply compensate for this years
losses in dollars and cents. At New York
and Chicago corn has been selling at II
and 10 cents above last years figures; SO
that should these differences continue the
crop as whole would produce a higher
value than last year.
ITO sum up, certain sections have un-
questionably suffered severe losses, which
will be partly offset by better prices BEN
citing other sections, by the bringing out
the ia ct that otherscrops promise at least
an average, and in the case of wheat a
record crop Moreover, the farmers as
class are in good financial condition and
much less in debt than three or four
years ago, consequently better able to
meet temporary misfortune. The corn
carrying roads will suffer somewhat in
earnings. but-enly few roads carry more
than or per cent of corn in their total
traffic. Live stock has been injured in a
few sections, nut not to Il calamitous eX-
tent
The report of the Southern Railway for
the year just passed. shows gross earn
ings of S33,607 900, an increase of $2219.0o0
and net earnings of 0,130.000, an increase
of s7l30O0. The company has for the first
time ip its history earned the full 8 per
cent dividend on its preferred stock 1t
may be estimated from the above figures
that the net surplus of the company after
the payment of all charges, will be about
So. 10000, though this amount may be
somewhat too small or too large in
reality. Last year the surplus was s2.917,-
900. The amount required for a per cent
dividend on the preferred stock would be
50, ,0O0.Oo. The earnings of the st. Louis
division has not been included in this
estimate. 1t Is probable that small
amount Will be realized from the net earn
inss of this branch above the additional
fixed charge on the st. Louis division |
bonds. The net earnings of the branch !
for the year are given as A74 600. while |
the per cent interest on the bonds out !
is underst God to be somewhat !
less than $4,000. This report should be |
especially the preferred. The |
outlook for the South during the coming |
year is a very rosy one. The cotton crop |
has been saved, and the other industries |
Of the section are all in hourishing condi- |
ton There is every reason to suppose, |
therefore, that the report for the year |
will be quite as good, if not better than |
South is growing as fast as the West in |
prosperity. and IL has no corn crop failure |
10 contend with this year.
The Steel securities have been the fea- |
ure OF the latter part of the week in mar
Set activity and in strength. Yesterdays
ADVANCE carried them both well above any
recent prices. The little boom in the
stocks is supposed to be due to buying
BY the inside pool, the idea being that |
when the strike end comes the public
Viii wish to buy these stocks. and might
as well as not buy them few points
higher.