The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1906-08-06
WEEKLY FINANCIAL LETTER.
- Henrv CIews. Bankerl.
Special to Lake County Times.

Special to Lake County Times.
New York. Aug. 5.-No better evil
dence of business activity could be
found than the last quarterly state
ment of the United States steel COR
poration During the three months
ending June net earnings were over
$40.O00,000, or two and one-half mil
lions greater than any other quar-
ter. During the six months ending
June net profits were $76,750, goo,
promising to surpass the best pre-
vious half-year record: hence the
dividend on the common stock. So
ia ras can be seen the steel man
agement appears to be amply JUS
titled in their confidence in the fu-
ture. The year 1906 is certain to
be the most prosperous in its ex-
istence, and hopeful expectations
are now INDUCED in for 1907.
Thus far this great corporation,
which has been under prolonged
criticism and controls about so or
60 per cent of the country's product
has been a steadying influence in
the iron market, and if it's present
policy is continued should gradually
establish itself in public confidence
/ The demand for steel products is
constantly widening, and American
railroads are certain to be very
| large purchasers during the next
! twelve months in order to satisfy the
requirments of new construction
and extensive contemplated improve
ments. Our steel trade, however, it
should not be forgotten, is subject
to violent fluctuations Railroad and
structural work are still the chief
avenues of consumption, and any
abatement in activity in these quar-
ters would be sharply felt in the
demand for steel 1t is only about
three years ago that the company
failed to entirely earn its preferred
dividend
Railroad activity continues on
remarkable scale This week not
less than four of our prominent sys-
TENS made most gratifying reports
for the fiscal year ending June 80.
Southern Railway, for instance,
showed an increase of $4,000 900
in gross earnings and 100000 in
net, The Rock Island reported an
increase of $7,18O,00 in gross and
an increase of nearly 100000 in
net. The San Francisco system re-
ported an increase of $3,590,000 in
gross and $1,400,0O0 in net and the
Atchison a gain of $9,66S.0O0 in
gross and $6,56O,00O in net.
Unless all signs fail some very in
teresting developments may be ex-
pected in the railroad world during
the next six months. Our railroad
magnates have highly important pro
iects under consideration, involving
the construction of much new mile
age, as well as important readjust
ment of relations between some O
til large systems Already there art
signs of strong personal rivalry be
tW65A SGiiS VI the DlS lSdu5lo dt 10
ing out OF conflicting interests il
. newly developed territory.
Recently crop demands upon New
York averaged about 100000
each season. Not less than tina
a amount will be required this year
and possibly more, because large
sums in the interior are locked u
in various enterprises and in rea
estate operations.
We shall have an abundance o
wheat, corn and cotton for export
and a ready demand for the sam
prices which, though lower than
year ago, will afford our farmers goo
profits. The supply Of foreign ey
change on this account will shortl
begin to materialize. Already Their
is an active export demand for An
erican wheat resulting from tn
shortage in Europe. Time none
continues bet.zeen 5 and 6 per cen
showing that bankers anticipat
good rates for months to come.