Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-10-09


Reduction in gross earnings, p
per cent .--....-..........-......S 6S,OS %
II is gratifying to report, with so large
decrease in the gross earnings Of the road,
comparatively small decrease al its net
earnings.
The net earnings Of the same road were,
In lsI5-4-.-.-..-..-.-.... l'4o9'sOz ~
Decrease in net earnings. .........s 55,4S7 "A
Including the operation of the South and
North Alabama railroad, in which the
Louisville and Nashville Railroad Com
pany owns a majority Of stock, the COM
parisOn with the previous years operation
is sill more favorable.
The gross earnings Of the Louisville and
Nashville and the South and North Ala
bama railroads (920 miles) were:
In 1872 l0oOol -
In 5'olo,6so ID
Decrease, 81 per cent. 1886 50
The net earnings of these roads were:
In IS72-3&.... ......................Sl,4 s4cH 81
In i'0ooySo< %
Increase in net earnings SIS per es s1.SS4 81
The South and North Alabama railroad
was operated only nine months in lS72-;i;
the reduction in grOss earnings for the cor
responding nine months in 1854 were
S59,O6T.93.
Taking therefore the results OF the Oper-
ton of all tbs roads owned, leased and con
trolled by the Louisville ahd Nashville rail-
raOd, we have decrease in the gross earn
ines Of 81 per cent, and an increase in
the net earnings Of SIS per cent.
The following is a statement Of the
| earnings and expenses of several roads:
MAIN STEM AND BRANCHES (JO5. 70 miles,
Gross earnings in 1854 ....-.......S4,2 2 543 %
| Operating expenses. zfS4oTooo -
Net earnings 81 fSlsilS3 o.
GLASGOW BRANCH lLeased-l
| The earnings Of the Glasgow
Branch were. ....-.-..-...-.-.--- SIefsSo ~
Operating expenses .......... L-''IO %
Net earnings in 1854. .......... S6,2l9 IS
NASHVILLE AND DECATUR RAILROAD lLeased.)
The gross earnings were..........---S6el, g46 o.
Operating expenses .......-......--.- 0-''o4o -
Net earning. .-.-...........-......sl44 so 70
The net earnings last year Were--.. lOs,lSs 70
Its increase in net earnings. 1890. SIS ,24O "a
The condition of this road has been
greatly improved, so that hereafter it can
De worked with still greater economy.
According to the lease this company as
sdiies 70 pay the interest on an indebted
| ness of. ....s...ss.ss...s. 4OO,OOO,
which, during the last year, has
amounted to.t............... $50 300 90
| The net earnings were. 1890. l44soSS U3
Showing a deficit of. ........S 4,5sS -
which has been charged to the profit and
loss account, together with S1Ol ,797, the
loss incurred in the previous year.
The Louisville and Nashville Railroad
Company has paid, on account Of this
road, during the past year, toward llquldat-
ing its Indebtedness, the sum OF SlS,SIZ 81
In the previous year there was
Maid on the same account. =. 1858 81
Total 800 OS
for which the Louisville and Nashville
Railroad, according TO the terms oil the
lease, receives stock in the Nashville ana
Decatur Railroad Company.
During the past year the amount expend-
ed for improvements, and for which TINS
| company IS 10 be reimbursed at the end OF
| the lease. was. StSyoo0 -
In the former year. ......s.... I+9,I1o %
Total .......... 80 - '%---'o-O -
| This added TO. oOo'o1V 90
| Shows the total Investment IN - --------
the n. and ID. r. Il. Co. to be. S52S,S4I %
which amount is embraced IN the assets, As
per the Seeretarys report.
| SOrTH AND NORTH ALABAMA RAILROAD.
The Louisville and Nashville Railroad
| COmpany owns in this road a majority OF
the stock. and. as a stakeholder, IS greatly
| interested i'm the results Of its operation.
The gross earnings for twelve months
In were. -
| Operating expenses ..---.-....-.--- fO''o'' -
Ne, earnings. ...........s $3.50 "a
| The interest paid ON bonded debt OF
that company is..-.................-~ f's'''S %
Deducting net earnings, ~ above, -.
Amount advanced foT eOnstructiOn.... 92,s26 81
| Other advances made........-.--..... lloy'Zz ~
r0,,, .nount advanced. s5es,2a2 II
The assets of the South and North Ala
bama Railroad Company consist IN the
laDd-grant Of about $4,000 acres OF
valuable agricultural and mineral lands,
the three per cent. fund, and the interest,
amounting annually to S51 ,24O gold, on
the bonds issued by the State Of Alabama
under what is known as the fOur-thOusand-
dollar-per-mile lava bonus paid TO the
road in consideration of the release Of the
| State from endorsement on the South and
| North Alabama railroad bonds.
During the year there has been sold, by
| the South and North Alabama railroad,
| some $4,000 worth Of land. All the assets
of the South and North Alabama railroad,
although not available Immediately TO a
| large extent. are believed to be sufficient
to meet its Indebtedness to this company
and secure it from ultimate loss.
The South and North Alabama railroad
is now in excellent condition, and Can be
operated very economically.
| The prostratiOn of the iron industries has
| greatly retarded the development of the
| rich mineral resources along the line OF
/ this road, which bad been greatly relied
upon for supplying it with profitable bus
mess. The ore, coal, and limestone are
found in so close proximity and OF so supe-
rior a quality, rendering the manufacture
of iron cheaper there than in any other sec
ton of the country, that no doubt can be
entertained that as soon sthe industries
and commerce of this country have been
restored to their former prosperity the de-
veIOpment Of these mineralTesOurces,w which
even now is slowly progressing, will re-
ceive new impetus and the road Will be-
come self-sustaining.
The great and peculiar value OF the road
to the property owned by this company
consists in the fact that it will furnish OuI
other roads with freights TO be transported
in the direction in which our cars now g
empty, and then, even at the cheap rates a.
which coal, iron and lumber are usually
carried, we would derive therefrom larg'
revenue at a very little additional expense
The Vice President and General Super
intendent estimates the amount Of ne
revenue that this company, including IN
South and North Alabama railroad, co'li'
, obtain, if its nOrth-bound empty cars WeT
J filed with freight al the rate Of one cent pc
ton per mile, at 100000 per annum-
: would require not more than TWO hnn're
/ tons of freight daily, oT twenty ear loads, :
reach this result, the securing OF Whicf