The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1879-05-23

THE GROSS EARNINGS
for 1878 were more than Al per cent
larger than those of 1877, while the per
centage of operating expenses was nearly
three per cent. less. The net earnings OF
1873 were more than 55 per cent. larger
than those of 1877. The net earnings
per mile of road operated were 3315 pei
cent. greater than IN 1877.
These figures show that your road has
had year of remarkable prosperity.
The reports of the vice president and
general manager, and of the land com
missioner, present in full detailed infor
nation which we trust will be satisfac
tory to the stockholders of the company
EXTENSIONS.
The extensions in Colorado and New
Mexico have made fair progress during
the year. Before the close of 1879 the
road Will be completed to the Rio
Grande river. Surveys are now being
made, and before the river is reached
plans will be matured for further exten
sions.
SECURITIES.
For the past three or four years the
market price of our securities has beer
far below their real value, as estimated
by the board. During the year they
have advanced rapidly, and now occupy
the place in public confidence to which
they are entitled by their merits.
THE OUTLOOK.
The rapid settlement along our line
and the extensions of the road into new
territory, both in Kansas and beyond
must largely increase our local and
through business, and the board are con
hdent that the earnings of the road will
continue to increase for many years.
LEGISLATION.
Your directors would express their
qualification at the refusal of the legisla
ture of Kansas to interfere with the man
agement of railroad property in the
state. The rights of stockholders have
been respected, and the principle thai
railroad property is entitled to the same
protection which is accorded to otheI
property has been recognized. Oppres
Sive legislation was attempted, but Wis6
cOunsels prevailed, and the state has de
clared that fair and equitable treatment
of its people by any railroad corporation
will be met by just and fair treatment OF
the part of the state.
The directors believe that so long a:
the company is careful to make its rate:
of transportation fair and reasonable
IlClC 10 NO OCCdSIOn I'd rear any QlreaS
enable interference with the company.
rights by the Legislature of Kansas.
THE REPORT MADE BY W. b. STRONG.
Vice President and General Manager. j:
replete with interesting details. He i.
pleased to say that the track is in very
much better condition than at the begin
ming of the year, and that much of the
improvement is of a permanent nature
During the year there have been abou
fifty miles of track relaid with steel. A
want long felt has been supplied by the
purchase of large building and twelve
acres OF ground at Topeka, for the prin
cipal machine shops of the company
The building is most favorably arranged
for the purpose. In 1877, the freight ca
mileage was 14,717,413 miles, and il
1878 it was %, 46S, $50 miles. The sale.
of the land department for the year wers
267 ,2S2 acres, the largest sales of any
year since the company's lands were of
feTed to the public. Over !, $50, 900 acre.
of government and school lands havt
been taken up during the year. The
wheat shipments during the year wer,
largely increased. The general manager
says the road Will be completed to Los
Vegas, New Mexico, 116 miles south OF
the Colorado boundary, by the middle O
July next