Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-03-04
Days Financial
News and Gossip.
Boston. March 8. |!

bOStO1l, MARCH q, I5lu
Net earnings of the United Fruit Co
continue to show extremely satiSfac-
tory gains. For February net profits
increased at the rate of slightly better
than $4,000 per week, the gain for the
month being about $4,000, an increase
OF 40 per cent. over the same month a
year ago. For the five months period
which began Oct. /. net earnings of
United Fruit from its fruit department
are slightly better than 100000,
which is three times as great as in
the same period last year.
New York-For the first time in
months there seems to be a difference
of opinion among officials of equip
ment companies as to the outlook in
the railway supply business for the
near future. Whereas all were very
optimistic at the close of last year and
predicted a record year for 1910 there
are a few who have grown somewhat
less so since although the large major
ity still cling to their former opinion.
Fear of legislation at Washington is
the main reason given for this falling
off in business evident since the first
OF November, while the strike situa-
tioIi dtHoIS TIE TdillohtS 10 SiNtn
a secondary cause The optimistic ma
jority among equipment officials be-
leve that the railroads have been
more frightened than hurt by any leg
islation thus far enacted and that flu
ture legislation will not be nearly as
drastic as expected.
A statement recently issued in be-
half Of some eastern railroads refer
ring to wage demands made by train
men and conductors, is as much an at
tempt to present justification of an
increase in freight rates as it is to
prove that the railroads are in no po-
sition to advance wages now. In view
of the arguments presented that ex
penses. cost of labor. supplies and ma
terials are higher than ever. while
rates have steadily declined. it ap
pears that an increase i'm rates is JUS
tifiable.
Montreal-Nova Scotia steel e. Coal
Co. has contracted to sell 100000 tons
Of iron ore during 1910
New York-When Colorado & South
ern a 2 per cent. stock, moved I'm to
Ga lately after selling for a long time
around 81. it was assumed that Bur
lington was in the market for more
stock and causing the advance. 1t was
forgotten that the earnings of Colo
RADIO &, Southern were in themselves
sufficient reason for the higher price.
BY the end Of January this road had
a surplus for dividend purposes Of 81
253,345 Seven months share of the
years payment on the three classes of
stock is $760.000, so the road earned
three times the surplus required.
The average prices of % standard
railroad bonds indicates bond market
quiesence. Compared with month
ago the average Of 93.157 is practically
a half point lower and about on the
level prevailing at the end of last year.
For the first time in nearly a dec
ade Pennsylvania Railroad comes be-
fore the stockholders without some
stupendous and financially more or
less uncertain construction project.
The most significant feature Of the re-
port for 1909 is that it proclaims virtual
completion Of the New York tunnel
extension within the expenditure orig
inally contemplated and with no Sc
rious strain on credit.