Wilmington daily commercial., 1875-01-28

S7u,U94 "a
Total earnings of both roads, %, SAG, 242 68
Add gain from Delaware r. H. 1,404 26
s2,s47, ,646 SO
EXPENDITURES CHARGED TO REVENUE
OF THE YEAR ENDING OCTOBER 3lsT,
1874
p. W. d B. H. r.
Operating expenses,
including State and
Local Taxes, VI, 730,07 10
NO. & Frenclun Il. Il.
Operating expenses, GAG, 1872 81
Total expdrs both roads, ,7T,00o w
s1,17O64O 81
For interest, ground rents, ETC., in
EXCESS of interest received, ,..... Sl26, oU9 VI
Net earnings for the year ending
Oct 81, 1874, ,o43, o3l w
Dividends were paid as follows, VIZ;
No. So, due Jan. s. 1874,
(four per cent )..... .$460,3l0 90
No. 81, due July 1st,
1874, Uour per cent. 54G0,9l0 90
Total dividends paid, 1922, ,22O 90
There remained of net earnings,
after paying these diyidends,... Tl22,6ll Ut
or which was placed to credit of
" Renewal Fund, ,"........,....... l00,0Oo oo
Count count, ~ s22,6l1 O6
Oct Al 1873, ................ 518,052 "a
i'a Oct 81. i 1874. $54O,66 80
| From which il to be paid the divi-
| dend of per cent. declared pay
able January I'd, 1875.
| The gross receipts, compared with those OF
| 1873, show decrease of S217 627.37, or about
| per cent, while the operating expenses were
| less than those of.1873 by the sum OF $265, 263-
9l or about 13 per cent. including taxes In both
cases but the taxes for 1874 were heavier than
those of 1873 by "a, 1850, or about 8 per cent.
| The decrease of receipts was due solely to di-
nnished freight, express and miscellaneous
| businees, aa the passenger receipts we're In ex-
cess of those OF 1873 by $iG,20S.7 73, or about l
| per cent, and were paid for mail service
| ST. 1893 81, about II per cent. in excess OF the
| mail pay OF 1873.
| much due TO diminished tonnage moved as to
the low rates at which We moved it, and the
| whole diminuton of tonnage was in tnose
classes of freight which demand more than av-
| ernge speed and care, and consequently pay the
higher rates. The movement OF peaches WAS
about one-half as large only as it was in 1875
and less than one fourth of that of 1872 And,
az consequence of the mildnoss OF the winter
of 1894 uninterrupted water communication
was maintained between Philadelphia, Whining
ton and Baltimore. and we were not called upon
to transport any freight ON account OF any IN
ability of canal and river lines to take u.
Our annual reports for 1872 and 1873, snow
that unusual expenditures were foreseen Tor
1874 such as the rebuilding OF portions OF the
Susauehanna bridge, and other works not fairly
chargeable to the operating expenses OF any one @
YEAR and that there was set aside from the net
earnings of those two years Renewal FUND OF
S225. 600 90 to meet such outlay, and to pay Tor
some obligations incurred during those years,
but not susceptible of liquidation
| ipna In accordance
purpose, the following items were paid In 1874
and charged to the Renewal Fund:
Cost of rebuilding four spans, or
1000 feet of Susquehana Bridge, IN -oo oc
, iron. -. '~iiN'oV'o
Cost of rebuilding portion of bridge .,
. at n Branch of Christiana in IRON, o,534'zl
Cost of repairing in part the damage
caused by freshet in 1878 at Canal ooa o-
I | Bridge, ........... ......'.''.' if,ooN.o'
raa dane IN at LIZ, Edremoor in 1874 1928 A
, Paid in defence of Lyman suits OF
1873 decided in this Companys IA c,o o,
q vor i'll 1874, l,..... .........:..'.., "oANo
! Paid gratuities, damages aud costs, ooo =
, incurred in 1872 and 1873. ........; o'soo'z
Paid on account of new bridge at ).
Chester to separate II. H. grade non ;,
n from city grade, e,................. o'ooo' =
q Total paid in 1874 and charged to Re- -, ooo a
" newal Fund, ...........'. .%ioo''--
@ The nine remaining spans OF wood OF the Slh
1t auehanna Bridge will need renewal Ill IRON Dc
10 fore before 1878, and. as the present ID iaVoi
J. able time to contract for iron work. we hay
10 ,aused to be made certain contracts Tor eiBn
10 iron spans, to be erected at short notice, aC @ ot
ton of this Company, at any time peiore 10 ;e
The bridges at Stanton and at Trainers otatio
are now being rebuilt in iron, and the grace
the railroad s being separated IRON that VI w
"a town road at the Horntown road. 10 meet III
% cost of such outlay, it was deemed expedlehs
60 set aside $1O0 900 from the net earnings OF io'
4, to the credit of the Renewal Fund, which ther'
a. fore now amounts to $l6l, ,O77.93; ....
8. During the year an unusual quantty
- a iron rails became unfit Tor use, Anu moi
~ repaced by steel rails to the extent
D1nO tons or over twenty three miles OF singl
track upon the main stem and branches, $40 n ad
ontlay for steel rails amounted TO ABOUT Zfz,uo
ny which amount less proceeds OF saie "a f ou 1a7
ID rails. was charged to repairs OF road Tor ~
sl There was expended also for additional eqtil
he ment, and charged to operating expenses
lin | 1874 the sum of %, 970.03. And IN tnis way
is believed that full compensation mas peen ma.
for sucb depreciation of portions or your prope
NJ tv. as from its nature could not be compensate
of | for at the time III KIND r, .,
In our last annual report we mformea u
IN stockholders in respect to the very insuilclel
W ~ nov for mail service received by this Compah
$50 During the past year, perslstent eSeruohh Mo
:, made by your executive oihcer TO OBTAIN reaso
~ able compensation from tue Posi- ohiye Depal 13s
If. ment The probability of success IN this uire
wv finn seeelned at time 30 remote tnag
was decided to let to parties other III,
OIL the Post Office Department al o1 u
=. most office cars to be used for the iran !
ry portation of express matter and fast freight +
ing either OF which uses we should have , reeev
70 for tle car-service at least double the amou
,ho nsid nj. by the Post Office Department. But
unce changes tSos place II sas and
s,o, deemed due to the Post Master Gener
the elect to await his assumption of the duties
ol his offce and his action in regard TO oni clail u
ere The result. we think, thus far Justines u
idi, conrse. Ii has been already stated tna1 s1o
mail receipts 1874 exceeded thode osd q tbp5 aa'S wi
With ti'n assent of the Post Master GENERA,
mails ls to abe be ssi
lis- p1, h,s;s Of adjustment OF our mail pay, to Ia
effect from the rst Of July last NVsitoo We Are mo m
COL over encouraged to hope that our poson W VIZ,
st tbfu If Si work performed for the Post Off
at Large loss Of ,be to ,s,s nosta aws da
toc, tha nre sent session of Cohgress-na measure
''> commended con by the Post Master deherai III