ARGENTINE RAILWAYS.
Most of the leading Argentine Railway Reports published during the past week have been of a moderately satisfactory character. The dividend announcements have been good, but the Report of the Buenos Aires Great Southern, for example, shows a moderate decline in revenue and an increase in expenditure, so that the allocation to the General Reserve is smaller than a year ago. The Buenos Aires Western Railway also suffered a reduction in revenue owing to maize crop failure, while the -expenses were rather higher. It must be remembered, however, that in both cases the comparison is with very favourable figures a year ago. The dividends and allocations to reserves are maintained, and there is a small increase in the carry forward. The net revenue of the Buenos Aires and Pacific Railway shows a fairly substantial increase, and the company is able this year to place £150,000 to the Reserve against nothing a year ago, while the carry forward is also increased. At the meeting of the company resolutions are being submitted for increasing the capital by 13,000,000 in the form of 6 per cent. Preference Stock ranking after the Second Preference issue.
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