The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-11-21
president GlRRHTr,s REPoRr.
Years Husiness OF the baltimore and Ohio o
Rniiroad aud its branches.

BALTIMORE, Nov. 20.-The regular annual
meeting Of the stockholders Of the baltimore
and Ohio RallIoad Company WIS held to-day.
John W. Garrett, President. submitted the If
tIeth annual report Of the President aud direct
ors to the stockholders. The total revenues Of
the read, branches, and connections for tho
fiscal year ended Sept 30, 1875, are given IT
$l6,03l, 1913. The expenses OF working and
keeping the roads and machinery IN repair
amounted to Sq,eC9s5G.l9, being SO Is per cent.
upon the earnings, showing "a decrtA sn of , ~
per cent. compared with the previous YEAR
Tie earnings Of the man stems and the branches
In comparison with ls,5 have decreased Sssl-
| sl7Ql. AMI the working cIpe Uses have decreased
$,dJ,l65.J9. making a compartttye deere SO Ia
the net profits Of sll6.G523l The suruiu;
fund, representing capital derived from the net
earnings invested IN branch and connecting
roads, and other improvements, $G5,0-2 j6j.ss.
aud sterling Is s2s,lG3.9s9 %, showing an excess
Of SURPLUS fund shove tho entire, mortga2e iu-
iher expansion OF tonnage Of through uIeicha,-
disc east and west, from s,2lQ2 tons In the pre-
cening year, to l.Og3.3B tnis ye r.
Referring to the eject Of low freights, the re-
port saws:
II VIII be noted that the largely increased tonnage Of
gate q los 59s iens Nuch u tns tialc Vas tfins-
ported a. he ncedessy low rates established by coa.
which would have made an Increase OF g. 7s8 ID
ressonabe ana esuita6e rse vii be SoHr 1t Ia SqS ma
inue o. VIII foster allke all Interests connected with
country. '''
The PASSENGER earnings exhibit az increase
from Slbls,522.iS in 1874 and $l6li..9.. n in tho
proceeding year to Sl.G1iii56j. The -. at trade
OF the main stem shows an aggregate Of ljgj,sH
tons., , "hlvn in''uIes ioy,o' Ions & icI ne COM
main stem ana its branches, incud-
iings the Central ONO, Lake Ere, and
burgh and baltimore, tho Newark, Smersst,
ana straitsyie. and for nine month. The Puts
bursh and Connell,yillc Railroads, is s5i2l35p5i.
The aggregate worKing expe. ses OF TIE man
stem WIN az branches and divisions arc GjQi
per cent. Of the whole gross revenues, being %
per cent. less than those of the preceding YER.
ihe report, after reviewing the condition aud
business OF the several branch roads, concludes
with that OF the Chicago connection, or I4ltl
moro, pIttshurG and Chicago Railway. The
earnings Of this road for the fiscal year were
q. l,tN0.es, and Tor the preceding Iscal wear
Sl5ilGi,2A showing an Increase OF So G3l .G5.
ms slrpius over working exuenses credited "
profit and loss account is SlG6.i0JO2.
Inc pGrlloh OF the report IN respect 70 this
road having direct bearing on the questions OF
through ifoights to the West, and Indicating
lows;
The ,oGonng Of M. extension to Chicago excited
hor Of the COMPETING Ines IL Va alrsed tst Ike
frame Teaiions +, Of 4r previously eNig rallr.al ~.
ny, new eon2pglln element 49,.
gave Greet route between Baiiincre ana nd cai.
iS SaSYr ana a oHs STSs Spcae @ Ia' aa|s
ere and producer, more SGonqpicA an @ aa
SeSTsS cs.lcd Y' Tor ' vast % esoa- @ '1
IN Sc huHtilitts comp ting Companies assumed
fluus To- MS rst, by lt sal atmpto to interfere with
the nnsucuun ui thr road, subsequently ~ in crtrr
cn I'm aglrenrus for IT, terminal station arrange
meats IN chicago and since generally by sqch
action in regard To Tntrs for transportation
would. II In their Iowrr, make the prHpcrty
uuremueratVe. But IN these proctfsrs uf nnt'goulsn
10 hls snort and cheap line, the longer lines - oiher
seahJArd cities have suffered fearful losses, Cnien-
able, unreasonable, and unjust demands have been
made upuu tuc Bnunlurc ana ono company to charge
rates Of transportation to the city of Baltimore winch
would iEuurcl immense geugrlphCa Advantages Ns an
eutrtplt Tor foreign commerce. These attaCks have
been sed upon erroneous principles, arc IA violation
a. q 10 u. a
css OF tie producer Aud consumer the Interests Of the
whole country demand that the great
Iii mrrrAl clties tho scnh0nrd shall
| mHlltan their proper advantages Of geographical
rtlAupus, 80 thAt the transportation Of the colAIry
shall br done al rates governed 10y their irrespective
Ntpi iS's. lhe great city Of New York viii always
! command from thu.c Immense rrgous when nave
natural rrAu unH TO that port their exclusive business
ltui those western Cfutr'f Of commerce Wlich are
Icarrt To Nul imOfp, ana the regions connected win
81 o. centres, are entitled 10 tine economy and
nlNihturc OF ihcir ntllucss TO H4uln re- ant those
cthlita OF commerce. end those regions VIII Vkprc TO
use and VIII uae the channel OF commerce which rs
| by which efforts are mate to tguore distances
VIII always be resisted upon broad an0 aruns grounds
winch All De- sustained 10y The common 'ns" AMI PLAIN
advantage OF the great pOpu4uOu AhOsU uivIe'ts are
| involved IN ihis important question.
the Chicago dlysi0a Of tla ba tnpre ana OHIO road
and while this company viii contnne to NJ
far advantages II VIA dOub lees uaintlin equitable
and Just nrni iprs.
1he report was appro ed. after which the old
Board VI Directors Nas reelected.