New-York tribune., 1904-10-09
The Financial World.

In the calendar Of the week have been vsriAs
events OF Importance. Atoms new coutroIsrs
have taken charge. ard th"ce may be quick
sequels In related quarters. Plans for the
new Gould HawIey- Rockefeller trans-COntinen-
tai systematic Western Pacihc-are making
faster progress thar on the surface appears
MIR. Gould has gone West to order personally
the execution OF certain details. One significant
part of this trip has to do with interests IN
Colorado, wherein Colorado Southern is con-
spicuOusly TO figure.
Louisville & Nashville's exhibit OF per cent
dividends with n per cent. earned-addirg over
$:'.5O0.CsO to accumulated surpIus-is quite suf-
feient to warrant the enthusiasm Of the students
OF that property and its cOntrOIler-the Atlantic
Coast Line-preIminary to the coming OF fat
stock dividends.
In Canadian Pacific consider merely these two
brief paragraphs from the annual address ot
the President. Sir Thomas Shaughnessy:
, IN three tree yess , your I9% rac ,oo rs
at the END o. 1897 am0anted SI f1o to s s vSc is
n,Sve p5aS rS fs1.5 T. s RyeS on i In s 9 y 5
creased from sa.e52.se0 to s15.2S2.sOs.
There is a property where intelligence and IN
tegrity vie for the production Of lasting pros-
Perity
Industrial conditions are notably better Take
figures that United States Steel will soon make
pubIic-mOnthIy product shipments: June 2ss6.-
O0O tons. July 4IOOO. August 100000. septem-
Der JO6O0O-Iast months output 90 per cent over
June.
HealthfuIy illustrative OF Industrial progress
exhibits in the report of the Distilers Seeur-
tiles CorpOTatiOn-4 per cent dividends distFjh~
uted and cash surplus established approaching
$6.OJ0O10. Extraordinary accomplishment this
represents-new methods the old corporations
toI,
NEUTRALITY-SUSPICIOUS. producing expanding
profits on the development of a business Of ssh
O00OOO per year. Net earnings have reached
the point where they some three times the
interest requirements the eOmpany's total
bonded indebtedness; and the extraordinary fact
is disclosed that current net assets (wholy in=
dependent OF millions of dollars worth Of real
estate. plants. machinery and other physical
properties and independent Of all value Inherent
in brands and tTademarksl have now risen BE-
yond $16O0OOOO-or more than the entire bonded
Indebtedness OF every property in the corpora
ton. This is wonder-working-and it is ,ab-
normal that a stock which now for the eighth
time collects quarterly dividend Of per cent.
while adding hundreds Of thousands Of dollars
per year to surplus. should be selling in the epeR
market under $50 per share.
A fortnight hence our local subway opens and
we viii nave JhaI test 50 loliS ueTNoUSlI dNaip3u
wherein effects Of competition will show upon
present transit properties.
But why nervousness? New-York has never
failed to respond 10 new transportation faci-
ties Again and again the addition OF means of
transportation has had the sequel OF new traffic
development till finally old congestion was re-
produced. When the elevated roads modified
charges and made the tariff an even FIVE cents
at all hours Of the DAY. expanded Fatronags
made good the loss As the street railway sys-
tenn changed from horse to cable and electric
traction. and transit was facilitated by better
service and lorger cars impetus given 20
business with every step taken When the Sys-
tenn Of transfers was iuaugurated. and then
vastly extended, II was proclaimed that the num-
ber Of paying passengers would be cut in Two.
The operation stimulated business. Note the
Metropolitan record for half dozen years: