The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-21
Business Prospects Excellent
the Country Over, but Spec
ulatiOn Is Dull.
WAITING FOR POLITICAL
SITUATION TO SETTLE
James j. Hill and Other CAD
tains of Industry Take 0p-
timistic View.
BY RALPH EMERSON

by Leased wire 10 The Tribune.
NEW YORK. Aug. 20.-The fluctuations
indicative OF much. They were the Gus
tomary movements which have become so
common, Until the political situation
throughout the United States becomes
settled. and only then Will Wall stree
become normal BY Wall street | mean
just that, for the basic business condi-
uonS throughout the United States are
good. Wall street alone trumpets a note
Of alarm. but Wall street is nervous
center and il moves TO extremes. AS a
barometer Il only shows the true busl-
ness conditions when those underlying
conditions are at extremes
James J. HILL chairman of the Great
Northern, who came 10 this city the other
day, brought with him his usual message
ol good cheer. AS constructive financier
and student who Is not guided by Wall
street opinion, Mr., Hill is qualified to
speak from Intimate knowledge. He dis
sipates the report OF coming strlngency
and he points out. in evidence OF his
claim. that railroads in the northwest are
doing an Increased business. Mr.. Hill
laughs at the suggestion that the coun-
try is tending towards depression. So
does Jules Bache. of the great bond and
stock firm OF J. S. Bache & Co., who ar
rived yesterday from Europe.
Arthur Stilwell, president OF the Kan
Sas CITY, Mexico & Orient railroad who.
like James j. Hin. is a builder and con-
struetive iinancier, is in the city after
an European trip. where he placed big
bond issue Mr. S,iIIwell is a harsh critic
OF Wall street and Wall street methods.
tie declares that conditions through the
vest and southwest could not be better.
But" says he. through absurd
stories set afloat in Wall street foreign
Investors are being made unduly eau
tious."
pany this week declared the regular quar-
terly dividend OF Sc per share on it's
+. million shares Of stock. John D. Rookie
tellers portion OF this dividend Issue Is
II Inc II iIarNl to 1n
paid in the last quarter OF this year. the
STANDARD oil company from 1882 to 1910
Inclusive Will have paid $7lo,ooo,o 900 in
dividends. The earnings OF the com.
pany in that time are estimated to be
over 81, 100. 900. 600. The company is con-
stantly increasing its surplus.
The report OF the American Smelling
company for the year ending April s
last has been issued, aud II shows Z per
cent earned upon the common stock In
that period, The report shows the COM
plus over the dividend Although this is
not as good as 1903. nevertheless II Is
satisfactory.
The directors of the International Har-
rester company will meet on Monday to
take dividend action. In the matter OF
dividends there is no industrial company
better fortified than the International
Harvester company, The earnings OF the
company this year are expected to show
a substantial increase over those reported
last year.
Indications pointed 10 s3O,uOo,ouu bnsl-
ness for the year and deducting q ! per
cent dividend from this the sum OF SS,000,-
OOO would be left for surplus. In fact,
the revenue is about 10 per cent on the
company's common stock.
The report OF the Kansas City South
ern railway Will appear next month. ana
II is confidently expected according 10
statistics already in) that the company
VIII show earnings of between and 4
per cent upon the common stock. The
gross earnings arc the largest In the his
tory OF the company.
The earnings of the Pere Marquette
were the highest in the roads history.
The railroad earned between and ,
PEI, cent upon its first preferred stock.
This is the first time that the road has
earned a dividend upon its first pre-
ferred stock and II Is now assured that
dividends will be disbursed beginning
June. 1911 when cumulative clause goes
Increased business on the Norfolk &.
Western railroad is leading 10 new
stock and bond issue for bond improve
mcnts AT the stockholders meeting in
October a $50.00000o bond Issue VIII be
voted upon.
shows that the gross earnings for the fis-
cal year OF 1910 are the biggest on rec
ord being over s.. 900. 900 higher than
the gross Of any previous year.
/ give those figures to show that actual
conditions broadly speaking. should
cause optimistIsm rather than pessim-
ism.
Aside from the financial side OF the
railroad question improvements are going
along as planned in the winter. Regular
passenger service Will be commenced
Monday over the Western Pacific from
Salt Lake City TO San Francisco In
Texas extensions and rolling stock Inn
provcments are under way There seems
10 be plenty OF money in the interior
and IL is doubtful il New York Will be
called upon for funds 10 move crops.
On currency operations during the pres
eni week New York banks gained $1,000
600 Returns compiled show that from
the interior S26T7 600 more cash was
received than was shipped while from the
sub treasury there was received s3,3l3, :