, 1875-12-28

Tbs aIam:a Of viii G :ac:ai; .seoat.
vii b seen tha tic s4S o5 of espai .,osK vas
fs ar 1sas e s,s t oyS ys III ~ cont % as
ssS soSas 70 s tas tisasuy tstuof Il lS sa nS.
1t IN tlia nausl practice Of railroad companies to
charge Ihu difference htwcrn tho Of atecl rails anil
iron rails used I'll tue ranowAH u tracks to cousruc
The 5.ko y Shore Company hovo,er h,re sa In s
Ing ous1ay Of At lcsrt over what Il wouli
avo coat to with irpn, and tho Whole Ias been
charged to operating expenaos.
socoun been followed. tho income proat and loss
sesount would haye been increased by this amount.
In TIC income aeeounts reports Of 1915 md ls7 tho
In7J-Dlacount on b0nt!s sold........,,... sn87G3
ls+-1!scoMus on tuAdH sod. ......"..,.... 61s bY3
..-.,.. ......... sl,sl7,Ns
Tho practice Of other railroad companies In to chargo
6ucl items to capital account aud these should l,aVs
been 80 charged and by much tbs Income or profit
aud iors nccoant increased.
toa,3 x1, Of which tho Treasury Of to Company re-
cetvrl no equivalent It is but fur TO state that II tho
81 ss az s IN ssS tho
discount m bonds to construction or capital account
bad bccn fellowc tho balance Of ncome pratt aud
lotn HceoMnt &C 9fl, IN eondsnseu balance ahcet
Lec. 81 1911. you'll have been increased by ths A4l
tipn Of the aforementioned aus OF s., 2u0,U0 aud
$fsDGt, and thIs latter sum- 10 far ~ goes would
, tats onaet to tho s. a93 sls Of stock watern;.
The rcatlt u TIL examination shows That ths Corn
Including secoud and ae traeAs-io7 engines
70 ll2 cars. ans station buildings utad grounds lot
ht tho tcrInnt and in tho ntlrX anl Way.vt4tions
aOpdantly supplied with ,scl,in-ry, Largo local bs-
carial and debt liability si oeS and viii float
Ss so ss =. eu sn o5
duplicated for 81, ,s0o.UN,
cArIrAt s1ook.
- EHrni,.gs.
H. olstatas s1lsu.c., iac ia1s, q g.: a9as
.-....... s5.ols,1oa
Hs't 70 1s,:ToEo,. earning. 7:1s'
s,7sa loi
Do. operating e1pcuscs nc. taxes, Il p. :. H.
s6.oe79lo
Tear 1s74-9Foss oarn!ngs.... ,......... 17,iIdl90
DO. operating expenses inc. taxes Is p O.. M,io3sii
...-- ...-..- ! s,yvlss9
Tho rspos. Of 1874 shows desecssa nf scaVoo In
tho gross earnlnxk below tloAo Of l37l but notwtA-
sananx y 1s faes tho net caFnin a7e s92oo Ia
This result must DO attributed In part to tho greater
per train milo, which iu it'd weTe 1er cent xros,ss
tlan In 1s7a. although rsas III 1874 lover than
road aud oqulpneat which, in yIow VI tlso fact that
both taYa been fully maintained from operating
Icnsca proves tho large outlAys for atesl rails aud
Tho fact that In 1A74 whit tho gross sarntngs fell
OF, tie net oa!tnas increased shows ooncuaiyaly tho
tAEiuY tie voluEo Of business, tucreAsel rates,
diminished expenses, aud an iutolEigcnt and oonsorsa
road slonld nut ia tho future and pay dividends
e1nsl 10 kny in the last.
Ths ehaFAos against not earnings which tako preco-
dence Of disdeas It u stAted IL tne report Of 1874
paHo II, will not exceed for tho yesr 1915
AsheraIy epea4!na It may w said tint tho Iake
Bhore leoad u to tho Nov York 0entfxl-whloh Il Rl-
Attod to TO tho greatest rsl!roal ia thl4 couutry-
what the handle ia to te d!ppeF It forns tho only
West The interests " tho roads Identical thsy
arc nnder tho nau1 management. aud whatnysr ruti-
tributes 10 tbs prosperity ct onu s o4asy felt by tus
0hsF.