Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-09-09
Total,
S175,613 90

1t will thus be seen that the Com
pany has been able To pay out of lis
income from earnings the iuterestou its
Indebtedness, two semi-annual diVi-
dends of per cent. each, equal 10
per cent. per anuum, on the capital
stock, and make renewals to replace
the wear aud tear, and give increased
value of to the property TO the extent
of about thirty thousand dollars, by
the eTecture of the passenger depot at
Knoxville, aud in permanent ballast
on the rOad-bed. A comparison of
this years business with that of last
year shows
a decrease in EARNINGS of S267, 1876 81
A decrease in expenses of 23l, 729 SO
A decrease in nett income of 35,456 "A
The per centum of decrease in earn
ings is about the same on through and
local passenger and freight tariff; and
the decrease in expenses is distributed
proportionately or nearly so, through
all the departments, and is due to the
exercise of strict economy, and to the
reduction i'm salaries aud wages from
/ the highest to the lowest of the officers
and employees of the Company, and
| also To a rupOrtiouate decrease in the
.
I the number OF cars rebuilt as CONS
/ pared with the previous years.
Tables Nos. ] and show the tinan
cial condition of the Company, from
which IL will appear that there ha.
/ been 40 material change in this depart
ment during the year, and that yOul
/ total outstanding bonded debt amounts
/ 10 81 POI 800 90, aad capital stock, stock
scrip, &c, TO 81 ,96S, 27i.OO. Total stock
and bonded Obligations, Sc, l73, l740O
Against this you own 272 miles Of rail-
road, fully equipped, and also the items
z in bills receivable received for the
. Western North DarOlina Railroad, tn,
/ Rogersville and Jefferson Railroad anC
the cost of the Cincinnati, Cumberland
Gap and Charleston or Morristown
ROAD, amounting 20 Sij6 $3.50. Heuc,
iJ will he seen that, including thes'
items, your road stands at SD G95. 40 pc
mile, aud at S21, 0lG.59 per mile afte
y drducting the foregoing items.
n The Compauys-is still practically
without any floating debt. as its avail
able CASH assets exceed the small sun
which it owes on bills payable and opeI
accounts.
Referenceis also made tOO,her table
hereto attached for valuable infOrma
ton respecting the operations Of tn
road and its sources Of business.
The decreased earnings for the pas
year il mainly, if not entirely, due Il
the effects ~ the financial pani
Of last fall on the business OF tn
country, aud it is aprrehended that TIL
dullnpss aud prostration will tend q
keep down the earnings for the yea
upon which we have entered, although
we may reasonably hope that your ne
earnings will equal that Of the pas
year, and if we shall have a return @
prosperity in the meantime, that
will eXceed.t.
There has been no material chang
in the condition Of, or in our relation
: with connecting roads. The Alabam
, and Chattanooga railroad and In
+ Selma, Roam aud Dalton railroad, re
/ main in litigation and give your rOa
! very little business. The MOrristow
r and North Carolina connection, we r,
D greet to say, remains I'm about the sam
= condition as they did a year ago, eX
\ cept that your Board Of Director
S through their President, made "A COZ
tract with the North Carolina Railroa