The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-07-02
santa Fe's Excellent Showing
for Fiscal Year.
Earnings on Common Stock
Equivalent to II Per Cent.
Pr OSPERITY AHEAD.
Reason Why Ensuing Year
ssould Not Be just as Good.
Gossip and Matters of Interest
in Railroad Circles.


At midnight on Saturday the
hsssl year of practically all the rail-
reds in the United States and Canada
ana Mexico came to a close. With
few exceptions the financial reports
of these corporations will be the best
made public IN many years and in
very many cases new records. both for
net and gross earnings, will be shown.
One of the roads which reports the
largest gross earnings, and net as well.
IN its history will be the Atchison, To-
peka & Santa Fe railway company.
Throughout the year the earnings of
the Santa Fe have been particularly
gratifying. The tremendous increase
in gross earnings clearly indicates that
the company has enjoyed a much
larger traffic than was handled during
the previous twelve months. The cor
responding large gains in the net
earnings as clearly show that the COM
pany was prepared to handle advan-
tageously the business offered.
The earnings made public for the
month of May showed increases among
the largest, if not the largest, ever
given out by the Santa Fe manage
ment. Men who are in a position to
watch closely the earnings of this
| company expect that the June figures
will indicate substantial increases in
both the gross and net. but do not be-
lieye that the gains will be as large
as that of May last over the CORE
spending month of 1905. 1t may be
creases for May were obtained after
comparing this years figures with ex-
cellent returns of May last year.
For the fiscal year 1905 the Atchi-
son pamphlet report showed earnings
on the common stock equivalent to
= IT -e~4- 411, ara
making advance estimates with re-
spect to the figures that will be off,
cially reported for 1906 believe that
a trif1e more than IL per cent will be
reported for the common.
Santa Fe officials say that there Is
no longer any occasion for anxiety
with respect to the wheat crop IN the
territory served by their company, in
asmuch as all the wheat In Oklahoma
is cut, and the same is true of the
southern counties in Kansas, while in
the northern counties the harvesting
of that crop viii have been completed
within the next two weeks. They also
say that corn in the Santa Fe territory
promises we'll for this season Of the
year and that cotton in Texas is doing
The next Dividend action on Atchi-
son common stock will not be taken
until the first Wednesday in October,
and the disbursement VIII be made in
a december next several weeks
prior to the April meeting of the
board, when the last dividend on the
common was declared, 1t was pretty
! generally understood in well informe d
circles that no increase IN the rate
\ would be made at that time but that
a higher rate in October might be
looked for with considerable con-
| fdence. The returns of the last fiscal
year alone seem to justify more than
4 per cent. on the common stock. If
| general business continues good, and
If the crops are as satisfactory as are
/ now expected, the resources of the
Santa Fe will be materially increased
| between June 80 and the first Wednes-
day IN October. So far as can be
body have not definitely decided on
the rate to be declared next autumn.
If. as stated above. the official report
Of the company will show only between
II and IL per cent, 1t is evident that
some of the earnings will be covered
| into a special disbursement account.
1 On the surface, the returns of the Atch-
ison, as made month by month, would
1 indicate an earning capacity this fiscal
year of within the veriest trif1e of a
fraction Of u per cent. Here is what
the showing should be on q conserva-
tive basis:
Surplus income for year ended
June 90. after charges and
preferred stock dividend s g. 033, 656
Increase in income, after taxes
and rentals for eleven months
to May 81, 1905. ....-........ 1868, 1o2
Total income ............... 81, 6s6. 1853
June earnings unchanged from
last year .................... 1905, 4ss
Total available for common
stock current fiscal year. $13, 200, 1874
This is equal to 1924 per cent on the
$102. 600 outstanding common stock