Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-08-14
RAILROAD MATTERS.
Annual Report of the Chicago
and Northwestern
Railroad.
The Revenue During the ast Year
Prospect Of an Improve
mept Daslsg the Next
Fiscal Year.

CHICAGO, August 1.-THE annual re-
port OF the Chicago aud Northwestern
Railroad is officially promulgated. The
income Of the company proper, opera
ting l5O,2lO miles (2) Of road, is set forth
as follows; Passengers, 5 ,Ols6 22 70;
freight, $s,26l .5ss y; express, $246,-
93s sc; mail, S2St792 SO; miscellaneous,
$50. 592. IS, Total, 81. s77,5 800 O3. The
operating expenses and taxes were,
S6,547 ESQ 06 IT leaving a balance OF
1929 $40 81, from which ameunt deduct
interest on bonds and sinking fund,
81 264 259 81; premium on gold coupons,
1922, 1913 IS; interest and exchange,
1850 u; b%alancs OF old tax on capital
stock, 1874, $l4,5l5 10; amount paid in
exchange on old Galena and Chicago
Uaion R ,ilroad stock, 1851 50; rent Of
Chicago, Iowa and Nebraska Railroad,
$f1l,464 90; rent Of Cedar Rapids and
Missouri River Railroad, $62l, 7S9 60.
Total, 3,494 SOl, "a = leaving a net in
come Of the Chicago and Northwestern
Railroad Company proper. for the year.
of $l,SS5. OlS % This is reduced some
500, 900 by deficit on proprietary roads
Speaking Of the failing or in business
the past year and the prospects OF a re
vival this fall, President Keep says:
The gross earnings OF the united roads
for the first hall of the fiscal year up to
December LIST were less by S2S4,5lS so
than those of the corresponding six
months of the preceding year, but the
falling off in earnings was more than
met by the reduction in expenses, and
the result was a gain Of $2lS. 800 40 in
the net income OF the company. Elk.
pectations we're entertained that the last
halfof the fiscal year would, with the 0 u
tinuance Of decreased expenses, show as
favorable results as did the corresponding
period Of the previous year in sufficient
amount to justify a moderate dividend
on the preferred stock in June and leave
a handsome surplus to the credit of the
years income. This expectation was
frustrated by the light business Of the
winter and spring Low prices for
freight, which always come from lack of
business by the various routes and the
low rates obtained under the operation
Of the restrictive laws Of Iowa, in part
conduced to the reduction of earnings
The general and widespread depression
pervadiDg the country would have
weighed still more heavily upon
our revenue during the last year
had the resources from which the
company derive its business been
less varied than they are. The present
season has already sufficiently advanced
to assure an abundant harvest il the
West aud Northwest, especially Of wheat.
Every indication points to an early and
constant demand for breadstuffs. and the
traffic on all our railroads will soon feel
the movement. There is encourage.
nent in a change from the old years
business to the new-the prospect of an
improvement in all sources Of eveuue
during the new fiscal year and in the
value of the stocks and bonds Of the
company"
The report says on this point: 1.-THE
value Of the property to its owners aud
its efficiency to the public are steadily
enhanced By Improvements of durable
character made in the permanent way
Steel track to the extent of ISL % 100
miles was laid during the present year,
making $40 SO 100 miles in use on the
3lst of May last. This will be increased
TO abont $50 miles during the present
year
Railroad Accident.
TOLEDO, August 4.-A collision oc-