New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-03-30
ST LOUIS, IRON MOUNTAIN AND SOUTHERN
RAILWAY.

We are in receipt of an advance copy of the
annual report Of the ST. Louis Iron Mountain and South
Railway Company for the ended Dec. 81, 1870
which show-th road TO be rapidly recovering from
barrassmen,s growing out OF the panic of 1873
and entering upon career of prosperity. Unlike
many of railroads this enc has shown for the year
1875 large and steady growth in all departments of its
local and through business The present Company is
consolidation May 1870 of the several aforementioned
roads the stocks Of which taken into the Com
pany the placed against EACH viz ST. Louis and
Iron Mountain at 49, Arkansas Branch at 50, Cairo Ar
kansas and Texas and Cairo and Fulton, each at 60
The capital stock OF the Consolidated Company fixed
at the aggregate the capitals Of all the roads
prior to the consolidation. viz S2Gj00000; but at the
foregoing required only $2l 44S9J0 to replace
the old stocks leaving in possession OF the Company
s5O51 $50 at par unssued. The capital and debts
given for Dec. 81, 1875, as follows:
Stockton SOdated. ..............S lS955,lS3 - - 90.
Unoonsolidaed. 272 -O2O--S2l 13203
ROndeG GeSt-Fanded coupons ........... i73sOoO
floating 1a' ,''>. $is8a55i
Total for ssh s5O274836
The Company has promptly paid, ms maturei It's III
terest upon the ST. Louis and Iron Mountain first mort
gage bonds and has funded three coupons each upon
Cairo ana Fulton mortgage to July 20 Arkansas
Branch June, &c ST. Louis and l. NJ. second mort
gage TO May, TO- and Cairo, Arkansas and Texas 70
June, 20, four coupons on consolidated mott
gage TO october, rs, and four on CAIRO ana
Fulton Incomes to February, ~, amounting in
all TO 2G9 355. As result of this funding the loat-
ing debt largely reduced during the year The bust
ness of 1879 IS given as follows:
Gross receipts from transportaton - $3's,29n
Operating expenses -, SJ,OlS
Renewal iund-.---......---.--- <JU, w 81 .a"lo
Surplus applicable to nteTest-...-......Sl, 6S923
BY the funding OF coupons, before stated, the total
interest payable in 1876 viii amount TO only S7i24ls.
The report presents IA feature in railway manage
mcnt and worthy of imitation by all companies, Ia
wit the setting aside from the years profits OF certain
sum for renewals" insteai, III the more general
practice with Northern railroads of providing for
large portion Of such expenditures from capital az
cunt. We learn from the report that the net earn
ngs for the year S55S,S70, or 40 per cent
in excess Of those of 1874. The rolling stock Is
said TO have been kept in good condition and $3.50
1874 expended in construction, including seven Ill les
OF steel rails it being the policy Of the Company here
after TO steel rails in renewals Several important
roads in course of construction which expected to he
finished during the present year, Will. as feeders, add
materially the business OF the -. LOuis Iron Noun
TAIN and Southern We learn from the EewYOrh officers
OF the Company from careful estimates based some
what upon the earnings since Jan. l. obey likely 10
increase over those OF 1875 something 100000
and leave no doubt that the Company will I've able 10
meet all lis maturing obligations and have surplus at
tho end Of the year Of $3JO,O0O 10 100000.