Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-07-07

far but 1t is believed that outside buying
will soon become a feature. We look for
higher prices all around in the near future
and advise buying the standard active
stocks, including the New York fractions.
the Changers. Coalers, Steels and Railway
Equipment issues
Compilation of railroad gross earnings
made by Wall street news agency show
the following results. compared with the
corresponding periods of last year:
For the third week of June the gross
earnings of forty railroads aggregated
s., $50 $751; an increase Of $42S.479. or STA
per cent.
For the fourth week Of June the gross
earnings of twenty-four railroads aggre-
gated 50, 1903 oil, an increase of $2o6,ooO. or
9 50 per cent. For the month of June the
gross earnings of twenty-six railroads ag-
gregated 500, 615.917, an increase OF II,
031, or 5.94 per cent.
For the fiscal year the gross earnings OF
twenty-six railroads aggregated $411.172o2.
an increase of S23, 1885, 62 or 500 per cent
The gross net returns of seventy-four rail-
roads for the month OF May We're: Gross
earnings So, 497 SAT; increase. sS,553,3'i3;
operating expenses s65, 1872 600: increase,
So OBS 633; net earnings, 1927, 313.IO1; In
crease. $2527 $50. The gross earnings In
creased 1919 per cent, operating expenses
increased 1918 per cent and net earnings
increased 1919 per cent.
From July 1 to May 81: Gross earnings.
1891 ,633. 5s1; increase. $l $50: operating
expenses. $685., 331, 1856: increase. $31 6S6 TO;
net earnings $500, 3O2 1896; increase. SIS. 594.-
2T8. The gross earnings increased 4.34 per
cent operating expenses increased BIS per
cent and net earnings increased 6.76 per
/ cent.
Reporting on new equipment orders for
the week the Railroad Gazette says: THE
American Car and Foundry Company has
received an order from the Missouri. Okla
homa and Gulf Railroad Company for fifty
gondola cars. The Pressed Steel Car Com
pany has received an order from the Ell
Paso and Southwestern Railroad company
for 500 side steel dump cars of 100000
pounds capacity. The Chicago and Eastern
Illinois Railroad Company has ordered
twenty-six cabooses. The Chicago. Rock
Island and Pacific Railway Company has
ordered twenty-five cabooses. The Mis-
souri,, Kansas and Texas Railway Company
has ordered fourteen simple mogul loco
motives, eight simple locomotives and two
balanced compound ten-wheel locomotives.
The Statist of London treats the prospects
of Louisville and Nashville as follows:
First ten months of the last fiscal year
the net earnings increased $4,000. while
in the first six months the miscellaneous in
come expanded s146,OO0, and there was prac-
tically no addition to the fixed charges
Consequently, irrespective of further expan-
sion in the miscellaneous income in the
half year and in the net earnings in the
last two months of the year, the net profit
for dividend will amount to nearly So, 2O0,-
900. sum equal to dividend of over
10 per cent upon the common stock. The
6 per cent dividends that are now being
paid cal flor a sum of $3,6OOOOO and there
is consequently a surplus for betterments
and capital purposes of nearly $5.6O0.O00
From this it will be evident that the COM
pany Is becoming increasingly strong.
An amendment to the charter Of the
Houston and Texas Central Railroad Com
pany was filed for record in the secretary
of states Office at Austin Tex YESTERDAY
1t provides for the building Of CUTOFF
line between Mexico. Texas and Nayasota
Tex. a distance of 100 miles The building
of the new line will shorten the Southern
Pacific route between Galveston and Dallas
by about fifty miles. Another news item
of interest relating to the Hartman prop
critics is that ]. p. O'Brien has been form
ally elected first vice president and general
manager Of the Oregon Railroad and Navi-
cation Company. vice B. A. Worthing re-
signed. The same action was taken by the
directors Of the Oregon and California Rail-
road Company. which places Mr.. O'Brien at
the head of the Hartman northwestern
lines.
X 4
The essential facts about the new Central
Leather Company whose securities are
about to be listed on the stock exchange
are set forth in an interesting form in the
descriptive circular issued by Thomas L.
Manson & Company this week The circular
says that the new issues are likely to be ac
tive features in the market. and continues.
Owing to certain Objectionable features
in the charter of the United States Leather
Company. reorganization was planned
December II. 1904. which would readjust
the right of stockholders and also the adj
illustrative regulations of the COMPANY
the latter being important to the develop
ment OF the business OF the old company.
as they had been handicapped by their in
ability to raise fresh working capital The
accumulated and accruing dividends on the
United States Leather preferred stock were
also menace to the company's credit.
The Central Leather Company was
formed to work out these reforms and
the company has successfully ac-
auired over 80 per cent OF each
Leather Company. The sentral trust
Company is trustee for the new mort
gage and the $27.S2a.0Oo bonds. which
deposit of 558JaS shares of the limited
States Leather preferred and 588 1876 shares
of the United States Leather common
terest in the Central Leather COMPANY and
to the real and other fixed properly of
every kind of the United States Leather
Company acquired or to be acquired. Sir
170lO bonds remaining in the treasurv 10
pay for additional preferred stock of the
United States Leather Company and
stocks bonds. debentures and other obliga-
tons of any other corporation which the
Central Leather Company may acquire. TO
make loans. to pay for engagements or en-
tension. betterments or additions and tn
purchase other hitherto competing con-
Germs. and of this amount 81. SOS.OO are re-
served at the discretion OF the directors
and executive committee to be issued to
provide for redemption or acquisition az
the O cent sinking fund Iroid a i,a--