Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-08-18
GROSS EARNINGS OF
ATCH|SON IN JUNE
VERY LARGE
Wall Street Believes Coming
Dividend viii Be Reduced
win Pay 6 per cent on Com
mon, Indefinitely

tsu,e,al Correspondence 10 Morning JonrnaiI
New YORK. Aug. 15-One or the
questions occupying the minds Of both
sneruiators and investors In Wall
street il whether the Atchisgn com
mnn dlVldend will be reduced az me
october meeting Of the board, says the
rews letter. issued this week by
Trhomnaon. Towlc & CO. The major
itv az persons believe That II VIII bnt
this belief also prevailed before the
July meeting and Il Afterwards as
veloped that the directors were unaht
mons IN declaring the regular diFi-
dend and mat the question Of reduc-
tnv disbursements 10 common share
holders was not given serious consid-
Grafton. -
wall street believes hat the Atchi-
son dividend will be reduced tor Two
reasons. One Is the pesslmistic utter
auces Of the executive head Of the
road. since the government secured
the rate injunction, and the y y
that the share earnings Of the road
have been q almost IN hait ~ tue
mast wear. There are the best OF rea-
sons Tor believing. however. that Atch-
isau will continue To pay . per cent
ia common dividends as long as these
~dIyidcuds are being earned. Further
more. the outlook ~ the present TINE
Il that The road viii continue TO earn
6 per cent dividends for some months
20 come.
The June earnings statement OF
Atchlaou was the best monthly re-
port issued for sorne time The econe-
mics put In force shortly after the tea-
sraI government secured the inlnnc-
ton in the rate case seem to have
been partly felt fer working expenses
compared with the severed preceding
months decreased surprisingly and,
consequently. net earnings were near
Is AZ large as In June OF a year 60
Ths ratio Of operating expenses 20
rroas for June Was e6.i per cent
while in the 1910 fiscal year these ex-
psnses ate up 70.2 per cent Of gross
Ii has been officially stated that
Atchison will continue with It's policy
~ ~retfenchment until the outlook IN
the railroad world ~ more favorable,
therefore. Il IL 20 be expected that the
ratio Of working expenses 10 fos VIII
be further lessened from now on and
that net earnings VIII continue 70
show improvement
One OF the ~unfayorahle features 81
Atchison's statement Is the manner In
which taxes continue to increase.
These were 70 per cent larger in June
last than they were In June OF 1903.
EIf tue AAAl WV 4'tA A@NA 49,
ed $4,000 or nearly 80 per cent.
In the fiscal year which ended june
30th last the gross earnings Of Atchi-
son amounted to si04.sa3s000 and
werc the largest IN the history Of the
Notwithstanding ara In
crease ia this item of Sf0,T2T 900 net
earnings showed a decrease Of $3.50.
900. on April 30th last Atchison had
t~le5,s29.00B common stock outgtand-
ing. also sse. 000. 600 81 convertible q
and 5000. 900 nf convertible 81. The
former have been exchanged rapidly
50 that A conservative estimate would
place the common stock outstanding
on June 30th last at s200, 600, 600.
Charges for the year. on account OF
the bond conversion, should show .
decrease OF approximately ~fi.60O.00o
Figuring on this basis Atchison for
she full fiscal year did not earn mors
than 7 per cent on its outstanding
common stock.