The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-08-15
Report OF the Chicago &
Northwestern Railroad.

CHICAGO, August l4.-The annual re.
port Of the Chicago & Northwestern Rail.
road ia officially promulgated. The in.
come Of the company proper, operating
1902 miles Of road, is set forth as follows:
Gross earnings, passengers, 50, ,0lS, 90? 70;
freight, $S,267 ,bS3 72; expresS, S246,.
90S 80; mail, S2s4, 1872 IS; miscellaneous,
SG5,592 rs; total, SllS,s77, 800 03. The
operating expenses and taxes We're St, ,5i7,.
$50 0G, leaving q balance Of $3.50 sl9
97; from which amount deduct the inter.
est and sinking fund bonds 1926, ,259 81,
premium on gold coupons Sl22, 1853 95,
interest and exchange $3.50 72, balance OF
old tax on capital stock for the year 1874
Sl4,5l5 10, amount paid in exchange for
old Galena 4 Chicago Union Railroad
stock S557 81, rent OF Chicago, Iowa
& Nebraska Railroad $47, ,l46, ,450, rent
Of Cedar Rapids 4 Missouri River
railroad, $G2l, ,4s9; total, S3,404,s0l "a;
leaving the net income OF the Chicago &
Northwestern Railroad Company proper,
81, l,S36,OlS %. This Is reduced some
100000 by default on proprietary roads.
Speaking Of the falling of in business
during the past year and the prospects
Of revival this fall, President Keep
says that the gross earnings Of the united
roads for the first half Of the fiscal year,
up to December Let, were less by $9s4,.
jlS so than those OF the corresponding
zix months OF the preceding year, but the
falling oh in the earnings was more
than met by the reduction in
expenses, and the result was
gain Of S2lS990 40 in the net in.
come Of the company. Expectations
were entertained that the last half OF the
fiscal year would with the continuance Of
decreased expense, show as favorable
net result As did the corresponding period
OF the previous year, in sufficient amount
to justify n moderate dividend on the pre-.
ierred stock in June, and leave a hand.
some surplus to the credit Of the years
income. The expectation was frustrated
by the light business OF the winter and
spring, the low prices for freight, which
always come from lack OF business by
the various routes, and the low rates oh.
tained under the operation Of the restric-
tive laws OF Iowa, have in part couduced
to the reduction Of the earnings. The
general and widespread depression per.
vading the country would have weighed
still more heavily upon our revenue dur.
ing the last year, had the resources from
which the company derives its business
been less varied than they are.
The present season has already suii-
ciently advanced to insure an abundant
harvest in the north and northwest, es-
pociaIly of wheat. Every indication
points 10 nn early and constant demand
fOr breadstutts, and the traffic ON al our
railroads will soon feel the movement.
There is encouragement in change from
the old years business to the new. The
prospect il ior an improvement in all
sources OF revenue during the new tinan-
cial year, and the certainty Of cores
ponding increase in the value OF the
stocks and bonds OF the Company.
The report also says that the value
OF the property to its owners, and
its efficiency TO the public are strongly
enhanced by improvements Of durable
made in permanent way.
Steel track, to the extent of 15l.73
miles was laid during the la4t year,
making 5l953 miles in use on the 3lst OF
May last. This will be increased to
about $50 miles during the present year.