The Monitor. [volume] (Woodstown, N.J.) 1884-1892, 1888-03-09
West Aersex,s Elnanees.

Z
on Tuesday in the West jersey Railroad
Office at the foot Of Federal Street, Cam
den, when the report of the operations Of
the company for the year 1897, aceompan-
led by the reports of the comptroller aud
general manager, also that OF the financial
| treasurer, were made.
The annual report for The year ending
| December 81, 1887, shows the largest mile
age the road has ever had 232 BIO miles.
Revenue from the main line and branches,
| 81 400, 2l4; operating expenses, e07G, 257
and net earnings, 1892. 9j7. In comparison
with the year 1896. there was an increase
in the gross earnings of SIG, 95G, and an
increase in expenses of S127, 073, resulting
in decrease Of net earnings OF S1031G.
The earnings and expenses of the West
Jersey and Atlantic Railroad and the
Woodstown and Swedesboro Railroad are
included in the foregoing statements. In
addition to the net earnings as above stated
s492, 9J7, there was received from dividends
and interests s15, 962, interest on mortgage
$4,000, and interest on general account
1885, amounting together to 800, SJ7, max
ing the total receipts 1913, Sid From
which deduct net earnings Of the West
Jersey aud Atlantic Railroad s7S, 455, and
net earnings of the Woodstown and
Swedesboro Railroad, sl2, 1856, and the IN
terest upon the bonds of the West Jersey
Railroad and various payments under lease,
contracts, etc, aggregating 1921, 497, leay-
ing balance to the credit Of income ac-
connt for the year, after dedueting all fix
ed charges, rentals of leased roads and pay
ments to operated roads, Of sol, $50. Two
dividends, amounting together to $50, 142,
were paid in 1857, leaving SIP, 1923 to be
transferred to the credit of profit and loss
account for the year 1887. Add the amount
of credit to profit and loss account Decem-
Der 81, 1886. $685., 619 and $40 50 final div
idend received from the International Ex-
hibition Company, total s348, 1872 From
which deduct 5000 expended in improve
ments on main line, and amount expended
on extension Of Salem Railroad. s47, 1856,
$50, 666, leaving balance to the credit of
profit and loss account December 81, 1887,
of 1895, 526. The total of all payments to
the sinking fund TO date amounts TO $685.
$50, which sum, invested with the accrued
interest On the various securities in mort
gage bonds of the company, amounts to
$3.50, 250. The net earnings of the West
Jersey Railroad in 1887 were 500, 22S; net
income of the Swedesboro Railroad SlG.G70:
and the deficiency OF the Salem Railroad
in meeting all liabilities was SO, 233. The
after payment Of all operating expenses,
fixed charges on the outstanding obliga-
tons of the company and the obligations
incurred under the contracts of the lease
Of the Swedesboro and Salem Railroad was
s201, Cos. La comparison with the year
1886 there was an increase in the gross
earnings of the West Jersey Railroad of
Sf4, 345, and an increase in expenses OF
SS9, Sol, resulting in decrease III net earn
ings OF s15,51S. From which deduct $500
decrease in amount paid Camden and At
lantic Railroad, less S2i6e increase in inter
est on obligations, leaving the decrease in
net earnings s15, 096 The Swedesboro
Railroad shows an increase in net earnings
of s4S13, and An increase of loss in opera
ting of SfS2. Total decrease in net earn
ings, $10,95S. The total number of pas
sengers carried on the West Jersey Rail-
road and branches in 1887 was 2, 122. S4S,
an increase of 162, 351 The number Of
tons of freight transported III 1887 was
556, 074, an Increase of 81 06S tons. Two
old locomotives were replaced by new ones
aud an additional new engine was added
to the equipment, and there were also add
ed to tlie passenger equipment two parlor
ears, and the freight equipment was in
creased by the purchase of 100 standard
box cars. The report states that for the
purpose of securing a more effective man
agement OF the branch roads, simplifying
their accounts and generally advancing the
interests of the several lines, it was DEEM
ed wise to merge and consolidate the Salem
and swedesboro Railroads and also the
Salem branch, the West Jersey Terminal,
Maurice River and the Woodstown and
Swedesboro Railroads with tile West DER
sey Railroad. II will be remembered that
the company held under lease the Salem
and SWedesboro Railroad, paying q fixed
rental therefor, based upon interests and
dividends on the bonds and capital stock,
and that it operated under contract the
other roads named, and was large stock
holder therein. Al agreement of merger
and consolidation as therefore negotiated
and entered into By the Boards of Direc-
tors of the several corporations, under date
of October p. 1887, which was submitted
to the stock hoders of each of the compan-
les at a meeting called for the purpose, and
was duly ratified The last company act
ed upon the agreement on the 23d of De-
cember, 1887, and to enable the new con-
soidated company TO commence its opera
tions with the new year the agreement
was filed with the Secretary Of State on
December 81, 1887. and the new Consolida-
ted West Jersey Railroad Company came
into existence ON the 1st day OF January,
1893.
The following directors were elected:
George b. Roberts, c. F. Leaning, c. E.
Elmer, John NJ Moore, Thomas H. Dud-
ley, George Wood. j. n. DuBarry, n. Par
ker ShortriSge. Edmund Smith, Henry d
Welsh, W. J. Sesell, benjamin +. Lee,
James III. Nixon, Josiah Wistar. David b.
Gug Georra II Poharts was el,acfpa