Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-08-15
RCEIPTs.


Leaving net arnings.-8l0I 10, 20 %
The receipts for the hrst six months
ofthep past fiscal year were..-----Sl4,S 2
the preVio1s hscai earsI~-....~- So, 4sa .
Showing a decrease in receipts Of. 1854 81
fiscal year the receipts TeTe,.1r Gz.sa IS
And for the corresponding period Of
the previous fiscal year- a2l,4A y
Showing an increase in receiots of-.SIO8,49 9 o.
irsf SIX months'.1-.NrIg..~-. 1851 ss
shows an increase in receipts over
previous fiscal year----.---.--.---. $3.50 u
Although the receipts of the whole
year show but small gain, the results
of the past six months promise well
for the future, it being a gain of $685.
400 OF in receipts over the correspond
ing period Of the previous fiscal year.
The reduction of expense has been as
follows:
Total for l5 80
Total Tor 'ol.3b -
Reduction. s4S,56 50
Increase in gross receipts added ISIS %
lakes an increase net earnings of s5G,i06 Is
In the last Annual report, it was
estimated that the expense of opera
ting the Road for the future would be
not more than $4,000 per annum.
But owing to the unexpected high
price of common labor, which mas in
creased the prices of wood, lumber,
crOss-ties, etc, this has been exceeded
about SCI, 900; and so long as the pres
ent price of the staple production Of
the country is maintained, we cannot
expect a reduction in cost of labor.
1t has not been considered to the in
terest of the stockholders to reduce
the outlay at the expense of the
property of the COmpany-the good
condition of which has been fully main
tanned.
The necessity of running double
daily passenger trains to connect with
Virginia and Georgia, still exists;
although not profitable, u connec-
tons cannot be made without it. The
probabilities are that, after the first of
October, the Virginia line will meet
US at Chattanooga with a double daily
train, which must necessarily increase
IL passenger receipts.
From the General superintendent
Report you will learn that our through
freight business has largely increased
during the past year. This has re-
suited mainly from the improvement
made in the through freight schedule,
and reduction in time between the
Atlantic seaboard cities and the South
west. r.
The indications of a heavy through
freight business this fall and winter
are promising, while our local business
cannot be less than that of last year,
with fair prospects Of aH increase.
ROADWAY DEPARTMENT.
This department is in charge of a
Chief Engineer, whose report states
fully its condition, together with the
details of his operations, as well as the
itemiSed statement of new improve
ments made in Roadway, buildings,
bridges, etc. From his report ii will
be seen that there has been expended
p permanent work and equipment,
S226, 592 SO; while for the previous
year it reached S375,421 -, showing
adacreaSe in expenditures for peTma-
nent work Of S14S,S2S 50. This de
crease is not obtained at the expense
Of the roadway or rolling stock,
which win De found in an improved
condition.
On the first of April a contract was
entered into with Col. NJ. B. Priehard
fuy tie building of the bridge over
Tennessee river at Florence, to be
completed by the first Of October, but
GSf$s 70 high waters and bao roaI-.
he has been 4nable 70 get the timber
for his false work as alitcteet2d nom
which cause its compisti9u VIII bede-
ferred materially.
During the year %, 200 of the 24-inch
Rolled Chairs, equal to about fifty
uiE9 miles, have been laid in the
track, which, added to those previ-
ously in use, makes EbeQt one hun
dped and thirty miles of track With
this Mstepipg, adding greatly 10 the
security Of tie trains, and leSScning
liability to accident,
1t will be observed that t4s e[-
penses of this department, chRrgeable
to operating the road, have also de
creased.
FINANCIAL c6YpITION.
The Treasurers' balance sheets,
Eastern and Western Divisions, as
well as the condensed balance sheets
of the tWO Divisions, show the entire
cost Of RoadTsy, Equipment Proper
ty, an other assets q the Company, as
well as liabilities of every ki3d, the
policy Of the Company having bees
rigidly adhered to of closing up every
liability by placing u 70 the credit OF
the parties to whom due, Wbether
paid or not. 80 this way your liabii-
tiles are fully shown at the end oi
every month.
An examination ofthe balance sheet
will give all the information necessary
to q full understanding of your Com
pRny's affairs, and it is believed will
show a yeEy satisfactory condition of
your financial position.
As stated in the previous Annual
Report, your finances are easy, the
Roadway and Rolling Stock il fine
condition. All that is now needed to
produce increased Net Earnings is I'M
provement In the general business of
the country, and consequently an in
in your receipts. Out ofagross
receipt of Sl,IS2, 759 -, during the
past year, your Net Earnings were
bat So, 2l2 9j.
The receipts of the road may greatly
inereasewithout adding proportiOnally
to the expenses.
II your receipts were increased 3
per cent, reaching..--.-@----- 81, "a, 900 o.
You expenses cOgld not, We be-
lieve, increase more than . per
cent, reaching ..........~..--....- $4,000 90
Leaving youF net ~earnings~.--- S65s coo 90
This amount of receipts is nearly
100000 less than we obtained during
the fiscal year ending June 80, 1867,
and when the country fully RECEIVERS,
our receipts should again be as great
as then, in which event your net earn
lngs would not be much under $780,
O00 per annum.
To illustrate this more fully, refer
enee is made to the receipts and ex-
penses OF the past fiscal wear, stated
quarterly, as follows:
Gross .operat'g Net Pr ~
Quarter. receipts. expenses. reespts net r,nfx
iSt-----2i2,702 "a l8S,SSz IS l3S4 aq a ~
3d.~-~-3f2,l las z iS9,I1 "a l529s3 81 "a 30
d...-....SS4 $50 q l9l,l8 10 1855 5T "a IN
fth-24s, i6l 81 ESQ 4s 40.s4 Is u S-i9
TosalI,Is2758 p Tsl,54s 2 40l. 2I2 IS