AMER: AN nlitnww mun AND mun MANl.lFAGTllRERs’AND MINING GAZETTE. ESTABLISHED * IN 1 ea 1. PEBLISRED WEEKLY BY JOHN“H. SCHULTZ, AT NO. 9 sraucn sr., NEW roan, AT FIVE DOLLARS PER ANMJM. * Sacorm QUABTO SERIES, Von. XXXL, No.’29.l sarnnnar, JULY 17, 1875. [WHoms‘No. 2,047, Vor..XLV1II. I3‘ Ma. FREDERIC ALGAR, No.1 8 Clements Liane, Lombard Street‘, Lennon, England, is the authorized European Agent for the J OURNAL. - ‘ PRINCIPAL coN'r1a':N'1's‘. Union Pacific Railroad .... .. .. ....897 Erie Railway.... .8971 Organization of the New 'Rapid‘Tx-ansit Com~ 6 missioner’s.... .... ...‘. .897 Cleveland, Mt. Vernon and Delaware Railroad.898 St. Croix Land Grant Decision ..'.. . . . . . . ..'. .899 Spartanburg and-Asheville Railroad. ....899 Production of Coal in Great Britain. .... .... .899 English Railroad‘ Law... .. . . .. . . .. .. .. .900 The Coal Trade . . . . . . . .....901 Illinois Central Railroad .... . . .901 New Jersey Midland Railway . . .. .. .. . . . . .901 Railroad and Canal Dividend Statement . .902 Railroad Earnings .. .. ....903 Federal and State Securities .... .... .... .. .904 Railroad Bond and Share Lists . . . . . . .905, 914 Financial and Commercial Affairs .‘... ..L.. . . .921 City Passenger Railroad Share and Bond Lists.924 Imports of Dry Goods at New York. .. .. .925 Exports of Wheat and Flour from California..926 Railroads in Peru.'... ....i.... .926 Subscriptions to American Loans in‘Europe..928 a 0:00 -cocoa ones oguo cc-n 1 A»meric'a’n' Railroad Journal. New York, Saturday, July 1'7, 1875. Union Pacific Railroad‘. , The gross earnings of the_ Union Pacific Rail-, road for the month of May, 1875, were.$l;273,225 . 11, the operating expenses $458,243 07, and the net earnings $814,982 04, For the month of May, 1874, the gross earnings were $910,065 13, the operating expenses $458,322 62, and the net earn- ings $451-,742 51-—showing an increase in gross earnings of $363,159 98, a decrease in operating expenses of $79 55,.-and an increase in net'earn- ings of $363,239 53. Average increase of earn- ings for the month of May, 1875, over 1874, 39.90 per cent.‘ Percentage of expenses for May, 1875, 36; for»May,'1874, 50.35——decrea’se, 14.86. For the ijlrst five months of 1875, ending May 31, the grosslearnings were $4,433,239 32, the operating expenses; $1,873,091 '41, and the net earnings $2,605,148 41. For the corresponding period in 1874, the grossiearnings were $3,660,751 29, thepoperating expenses $2,013,684 20; andtthe netearniugs $1,647,067 09-«showing an increase in gross earnings of $822,488 53, a decrease in operating expenses of $135,592 79, and an increase in netearnings of $958,081 32. The average in- crease of gross earnings for the first five months of 1875, over 1874, was 22.47 per cent, and of net earnings 26.17 per cent. The average increase of gross earnings per day was $5,447. Percentage of expenses in‘1875, 41.89; in 1874, 55.39-—de- crease, 13.50. The month of June, it is stated, will show net earnings of $650,000, which added to net earnings for the five months as above, $2,605,148 41, will make the total net earnings for the half year end- ing June 30, 1875, $3,255,148 41, which is equal to the interest due on the mortgage debt for all the year, leaving the whole net earnings for the next six months applicable for dividends tothe stockholders. _ The net earnings for the last six months of 1874 were $3,283,467 11. ‘It is safe to say that for 1875 they will be at least $1,000,000, more, or $4,283,000, which is [equal to about 12 per cent. dividend on the stock. . Erie Railway Co. A At the annual meeting of the stockholders of the Erie Railway Company, held at the oflice of the company, No. 187 West Street, New York, on the 13th inst., the following gentlemen were elect— ed directors for the ensuing year : ' l-Name., , Place of Business. Herman R. Baltzer.... .50 Exchange place. Samuel L. M. B. r ow . . .. 35 William street. Thomas Dickson. .... ..71 Broadway. R. Suydam Grant. ..33 Wall street. Solomon S. Guthrie . . .. .Buifalo, N. Y. Giles W. I-Iot_chkiss.. .. ..Binghamtou, N. Y. Hugh J. Jewett ....‘....Erie Railway ofiice. John Taylor J ohnston...119 Libertytstreet. LouisH. Meyer.... .. ..21 Nassau street. Edwin D_. Morgan.... ..54 Exchange place. Asa Packer.... .. ..L. V. R. R., Phila., Pa. Gortlandt Parker. .. ..Newark, N. J. Homer ' Ramsdell.’ .... ..Newburg, N. Y. Marshall 0. Roberts....177 West street. Lucius Robinson. ..Elmira,.N. Y. Samuel Sloan .... ..26 Exchange place. Henry G. Stehbins.. . . ..36 Union square. 0! these Messrs. Dickson, Guthrie, Hotchkiss, Parker and Sloan were elected in the‘ placesof Thomas Scott,,William.But1_er Duncan,,‘,Fredg stick Schuohardt. Johapa. 0. Gray and to fill the vacancy, now long standing, ‘created bythe resignation of John King, Jr., of the Baltimore and Ohio Railroad. The whole number of votes cast was 262,485, of which the Jewett ticket’ ob. tained 261,735 and the opposition ticket 750. The new Directors will meet on Tuesday next for the election of officers. I 1 , Organization of the, New“ Rapid Transit; _ Commissioners. A meeting of the Commissioners appointed by May or Wyckham to carry out the provisions of the Hosted Rapid Transit Bill, viz : Joseph Seligman, Lewis B. Brown, Cornelius H. Delamater, Charles .l.Canda and .1 ordan L. Mott——was held at the May- or’s otfice in this city on the 6th inst. On motion of Mr. Jordan L. Mott, ‘Mr. Joseph Seligman was elected chairman. Mr. Seligman assumed the chair and presented a. certified copy, of the law under which the-Commission was,ap’- pointed and organized. , The Mayor’s private; sec,-_. rotary was,,0_I1 motion of’l\Ir." Mott, appointed temporary secretary. ' The Secretary produced a_ certificate ofithe ill- ing of 9. copy of the names of the Commissioners with the Secretary of State at Albany. A certifi-' cats from County Clerk Walsh.was als‘o‘prese'nted,' showing that a copy similar to the one left with the Secretary of State had been . deposited with _ him. With the last copy duplicates were shown: of the security bonds of each Commissioner; hold- ing him in $25,000 to the faithful performance of his duties. . . Messrs. James andllesse Seligman are on Joseph _ Seligman’s bonds; Ho‘ward,Potter and W. H. ' Lea sign for L. B. Brown; D. H. Baldwin and John Baird for C. H. Delarnater ; S. B. Whiztepyand Oliver Bryan for J. L. Mott, and W. B. Ogden and: John H. Abell for Mr. Canda. On motiontof Mr. Mott a committee_ _of. two was ' appointed to draw up advertisements for--plans‘, proposals &.c.' The Chairman‘ appointed Messrs. Mott and Canda as a committee.’ ‘ A V ,, Onimotion Mr. Canda was appointeda oo’mniit- 0 tee of one to find a suitable otfice forlthe‘ Com-1 ‘mission. A V @" Messrs.‘ James _G. Knm’_s Sonslhave re- moved from 31 Nassau V street to their ‘old tissues, 51 and 53 William ‘street, cor_;1er'ofPiue. is .