New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-14

Di'luenuS, uToppeu ia 1901. were resumed n
1901. From 1901 to 1904. inclusive, there "a.
distributed to stockholders the sum OF 31aan
S44. BEGINNING with 1893, when Mr.. Geoss,1
Gould took up the reins OF management m.
property then burdened with floating debt .,a
conditions prevailing which brought bankr,ptc,
to % per cent of the entire country's railroaa
mileage, aud further losses extending ov~
years. and dividing the twelve Inclusive Ys.,.
to 1904 into two periods of six years each 81,
idea OF the inspiritins change brought abou, .,
Missouri Pacifc's position is obtained Reu,,,.
for the first six years came out with a net denc,
over fixed charges of 5000, $40. For the ,eco,,
six years there shows a net surpIus-or earn.
ings for the stock-of S3o,51O,492
Officially the 1905 figures are not VET ,,,u...
but it can be relied upon that there viii ,bo,
in the forthcoming report not one item suepas,
ing retrosressiOn. Expansion shows-10O5 sur
passes 1904.
Consider this graphic exhibit Of the tram.
formation wrought:
iss STn Genf fa s ssooise
Paid in dividends 1901 1000 Isl sss a.
Wherein where. anywhere-can be found in
this record warrant for pessimism-aught eve,
to palliate Missouri Pacific criticism?
GrieyOus yearly deficits turned into vast year.
ly SURPRISES mileage increased % per cent. M,
earnings increased $50 per cent
In so far market tendencies show. public
participation no longer doubtabe, the trend in.
disputably is toward better prices 1t is, o,
course now we'll understood that important
corporation announcements are close at hand.
announcements OF such consequence that the
entire stock market may be expected to show
responsiveness In the Vanderbilt quarter
these announcements are likely 10 come
speedily. The uniicatiOn OF the Vanderbilt
Juniors will be foremost. Big FOurs part In
the new situation will be exceptionally impor-
tant. Big Four at 125 will not far hence be-
accepted as moderate market valuation.
Efforts TO accumulate Big Four stock have
been recently aggressive to the point Of fore
ing quotations down In manipulative ways.
Actually there is no stock Offering In the mar
ket. and purchases for the public in any sub
stantiaI volume must result forthwith In new
higher market level Big FOur's increase Of
earnings from this time forward will be large
Incidentally. Erie is similarly going 70 show
handsome increase gains. But, recurring to
the Vanderbits, there is much more than pass
inc significance IN the buoyancy Of Chicago
and Northwestern and Omaha-the former yes
terday rising halt dozen points and Omaha
gaining almost as much. II officially arranged
plans are adhered to. Omaha will this weak
cross 200
Chesapeake and Ohio to be established a.
per cent dividend payer-earning over ia
a proposition Of which the foresixhted invsssx
will soon take account
Denver and Rio Grande, similarly. viii ar
peal to the same class Of investors It is din
cult to overestimate what the building OF the
Western Pacific will signify In net earnings
for the Extraordinarily controlling the trans
portation involved In Western Pacific con-
struction. The nmount OF Denver common
stock aioat is Insignificant Far more than
majority is closely tied up. Denver counnon .
as a per cent dividend payer Is iOreas'
which some enthusiasts are credirns
With IN. disposition OF many interests IN the
market to prefer activity in the lower priced
shares both railway and Industrial. chicago
and Great Western. Colorado Southern and
Is International Paper. whose common shares.
under 90, may not be remote from dlviaenu
distribution. Paper preferred on It's 3 per cent
basis IS recognized. of course, as among 'ne
very cheapest OF the standard industrials; ou'
the buyers of the common have become equally
enthusiastic-pointing out that even after al
lowing for the preferred dividend there mas
been earned during the five months 50 far re-
ported for the fiscal year virtually SoooV"
surplus. which is at a rate (eyen II there Do
only maintenance of current earnings showing
a surplus above all charges. including the En-
tire years preferred stock dividend. materially
more than s1.O0o,o0o which, added TO the
Sc 5000 already accumulated. shows tafter
paying per cent regular dividends on the pre-
ferred stock for eight years. over Az per cent
on the S17OoO.O0o of outstanding common
stock This does not merely show, most con-
servatively considered. that its per cent IS
assured TO the preferred stock but that divl-
dends for the common will soon be feasioie-N
being officially acknowledged that the corpora
ton now has contracts booked beyond lis en-
tire capacity for more than eighteen months
ahead.
American Ice shares. to which attention was
called a week ago in this review. have adj
vanced points-accentuating the theory thar
with right conditions and good management
net returns are in large Industrial corporations
bound to be satisfactory. The record of the
American Ice Company is one of suecessfu
effort to establish sound and enduring PROV
erty-testihed to in the selection by Mr. Morse
and his associates OF Wesley NJ. Oler as pres
ident and controlling director. Mr., Oler is
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