Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-08-29
LES increase in freight -.
Showing net decrease off, sIs,s25 4

OF the decrease in passenger business
} 1860 81 is in local, and S3S, 5S4 IS in
through. The receipts of the Winchester
} and Alabama railroad, S6527, and Nc
Minnville and Manchester railroad,
1886 As, being included in the amount
of entire passenger business, serve to re-
duce the loss TO this extent.
There is little reason to doubt that the
loss in through business is due mainly to
the opening of a competing route, ria
Selma, Rome and Dalton railroad, for
New Orleans travel, while the active
competition of the Nashville and Chat
taDooga and Northwestern roads for
travel between Memphis and Chatta-
noOga has, TO some extent, reduced our
receipts.
Receipts from expires service show n
heavy decrease, resulting from the
Virginia road having no arrangements
with the Southern Express Company,
forcing that business over other lines
that would otherwise pass over ours.
Our connections have supplied ears to
a greater extent than heretofore for the
joint through traffic, reducing our car
rent very materially, and cutting off
greatly the revenue from earnings of our
cars in their service.
Freight shows an increase of.......-.SO,s2 6 "a
From this however, should be de-
Quoted:
Receipts of theWinchester and
Alabama railroad ---...SI2,249 y
Receipts of the McAIinnville
and Manchester railroad. 1855 5
Leaving increase of this BUSH
ness OF Memphis and
Charleston ra~ilrOad-..- S3O,72 81
of which 1852 IS is local, and Sd, Jas 90
through business.
On through freight tonnage has in
creased largely in excess of increased
earnings, owing to the low rates prevail
ing, consequent upon active COMPETE
ton. We were cut off from st. Louis
during the best shipping season on ac-
count of low water in the fall, and the
river having closed by ice during the
winter, the trade from that point finding
an outlet entirely by the all-rail line ria
Nashville, and forcing us to depend
wholly on lOw-priced merchandise
from Eastern cities and cotton from
Memphis to employ our equipment.
A comparison of the statement of cot
ton shipped this year, with that of the
one preceding, shows a decrease of
96S9 bales, or about IL per cent. of local
cotton, and that nearly 5000 bales of that
produced on the line Of road found a
market in New Orleans, shipments be-
ing made ria Grand Junction, reducing
our revenue both as TO the carriage of
the staple and the returning trade.
Through cotton increases 49, S9 bales,
Notwithstanding a decrease of II, 955
bales from the line of the Mississippi
Central road, depriving US of a consider
able revenue from this loss directly, as
yrro11 n, o4fIoAsv.r. Al. N~,l. ---,1I !
otherwise have had returning, had this
cotton been marketed at Memphis. We
have, therefore, as before remarked, de-
pended wholly upon the increased ship
ment of eastward-bound cotton, in which
there is shown to be q, 81 bales more
than in the previous year from Memphis
alone. Our shipments from this point
in the aggregate are SO, 236 bales, receipts
being 66,046; the latter decreasing Is, $40
bales, affecting materially our revenue.
Comparing expenses with the previous
year, the cost of operating has increased
st per cent, while gross expenses de-
crease A per cent. Mileage Of trains
shows an increase of % 7-l0 per cent?,
due in part to operating the Winchester
and Alabama and the McMinnville and
Manchester roads, but mainly to an in
crease in the volume of through freight
on the main line, which, being carried
at low rates, does not give us an in
crease in receipts. e. /
1t has been shownthat after providing
for operating and extraordinary expen-
ses, we had:
Remaining nom gross eceiptS-.....--S208,6G go 20
Amount OF interest on funded debt
and inteFestand exchange account 30i,O67 %
Showing a deficit of .......-.-...---.s 400 p
Against a defcit last year Of."--...... lOl,3i0 80
From the report of the Chief Engineer
it will be seen that the large increase in
this department is due to the extensive
renewals of iron, being largely in excess
of our estimate of last year. III
Ordinary expenses also show an in
crease amounting to $40 s Is, arising
mainly from replacing ties, ~fastenings
and worn rails.
You are referred to the condensed ball
sheet of the Division Treasures for
a full understanding of the financial con-
dition of the company, cost of road,
equipment and other particulars; also to
the T~reasurer's supplemental statement
of the first of August, showing your
assets and liabilities as well as receipts
and expenses sincet the close of the year.
Your assets being estimated at real value
are as follows: