Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-21
Rail- HAPPENINGS.
THE ANNElL REPORT OF THE
NORFHERN PLCIFIO COMPANY.
A Very Favorable Showing for tho Past
Year-The Eastern Connections of the
Canadi N Paciac-varisus Items of In
terest to Railroad Men and the Public.
Northe,a Paojnc Auu,tat Report.

NOrtIeTsQ Pacific annual Report.
NEW YORK, Sept. 20.-The annual report
of the Northern Pacific company for 1883
shows gross earnings $7,855,459, an in
crease of $685. 1873; expenses $5,336, 929,
an increase of SI,764, 0S9, and net earnings
$2,518,529, an increase of S661, 064. The
treasurer's statement shows a balance
July l of So, 1903, 1923; received from earn
ings of the land department and miscel
Ianeous $9,S79,O24; proceeds of bonds
S18,50O,000; preferred stock sold $751;
i69; loans for construction $5,452,OS1.
Total SIT, 128, 199. While the earnings per
mile of the older part of the road show a
satisfactory increase, the ratio Of earnings
to the total mileage was necessarily less
for the fiscal yoar just closed than
the preceding year, from the fact that of
the additional 900 miles the road oper-
ated, nearly 500 were newly constructed
line traversi1g region where the road
had to create settlement and business az it
advanced. The earning capacity Of this
mileage will soon be demonstrated now
that tho connection with other tracks is
effected and the line to The Pacific coast
completed. OF the proceeds $4,593,S46
we're paid June 80, 1888, to Inc Oregon &
Transcontnental company on account of
indebtedness to it for loans andladyances
The excess of expenditures, On account Of
construction and equipment, amounting
to S7,986,507 over the ossh receipts from
proceeds of general mortgage bonds, sales
of preferred stock and other sources of
income arises from several sources, chief
among which are the increased cost of
construction beyond the engineers est
mates, an d expenditures for motive power
and rolling stock TO keep pace with the
increased traffic of the road. To avoid the
embarrassment of large floating liabilities
an arrangSm ent was entered into with the
Oregon d Transcontinental company
under which that company was to make
advances of money needed and to accept |
therefor such negotiable secarity as this
company is competent to give, the terms
and form whereof are to be decided here |
after The time appears at hand for |
Stricter recognition and satisfaction of the |
claims of the preferred stock under. the |
plan of Reorganization. With certainty |
of increasing earnings and d prospect OF
low operating sxpease it is the belief of |
the directors that the payment Of regular |
dividends On preferred stock may be |
reasonably expected to begin at an early |
date. The earnings Of chs sscal year are
summed up rs fellows: Gross earnings
from '82 10 '8S, 1856 59. an increase of |
$2,425,15s ever the previous year. Ex-
pensss, including rentals and taxes, So
336,929, an increase over the previous year |
of 1,7G4,sS9.26. Net earnings $685. |
529, an increase Of $685., 064. The rates of !
expenses, sts., to earnings increased 2.14
per osnt. An Inc ca . of 800 In reported
on the average earnings per mileage and
decrease Of $1,071 on gross earnings.
The express and telegraph business car
ried on by the company show encouraging
figures. Gross EARNINGS of the former,
$227,629; expenses $85,494; leaving net
earnings $i42,234. The telegraph system
was also greatly extended.