The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-04-18
Condition of the Nett,eton sya,cm.

Tho annual report OF the Kansas City,
Fort Scott & Gulf Railroad company Tor
1887 has been issued to stockholders. The
earnings statement for the year has been
published in full heretofore. Briefly re-
captuated, ii shows: Gross, g., 732, 203. 81;
operating expenses, 81 ,G0l, l74.2i; net earn.
ings, SLOT ,032.33; total charges, $685.
202.S2; dividends Is per cent. on preferred,
a per cent. on common), 1920, 100; sur
plus, s670,95l; total undivided surplus
after payment OF dividends February 10,
1888, 1922, l0L30. The percentage OF
operating expenses TO gross earnings in
1887 was COS, against 5,Sl1 in 1885. The
gross earnings increased Sl02, 8G5.7O over
1886; expenses, SlSj,GA5i, and not earn
ings, S22l. 10. The gross earnings per
mile were S7,O29.SO in 1887, against &c..
533.b7 in 1886; increase, Sl96.23. The net
earnings per mile were -, 1870 in 1887,
against s., 731. IS in 1886; increase, SiS.b7.
There was expended in 1887: For con-
struction, S72,9i739; equipment, S,lG, %
1912; and Fort Scott Equipment COM
pany, Sl,lSl 03 improvement for leased
lines, S13,326; total construction and
equipment, Slsl0OI5l The bonded
debt is S2,2H,00O, in per cent. first
mortgage equipment bonds. or 1860. IS
per mile, and $4,000 equipment bonds,
the latter having been reduced 10y S7O,-
900 drawn for the sinking fund and can.
celed during the year. The bonded debt
OF the leased lines, principal and interest
OF which are guaranteed by the Kansas
City, Fort Scott and Gulf, was increased
by the sale of $4,000 bonds OF the Mem.
phis, Kansas and Colorado Railway com.
pany.
The assets held by the sinking fund
trustees for the gradual retirement and
full payment at maturity OF the Fort Scott,
Southeastern and Memphis, Short Creek
and Joplin and Rich llil Railroad com.
panies amounted, December "a, 1887, to
1888, 206.5l. The additional amount ad.
vanccd during the year for the Kansas
City Belt railway was SLID, l5I7I,
on account OF which bonus 10 the amount
OF Sl02, 900 have been received and sold
with the guarantee Of the Kansas City,
Fort Scott q Gull company attached.
Bonds will be- received also for remaining
advances. The report says that the Belt
road is fulfilling the expectations Of Its
projectors. and now Is earning the interest
upon It's bonds, with good prospects for
the future. Tho operation Of The Kansas
City, Clinton & Springfield for the year
showed a deficit upon It's bonded interest
Of SIS, 1885. which will be advanced by
the Kansas City, Fort Scott & Gulf, ia con.
formity with It's agreement and for which
II will receive the obligation Of the Clinton
company. The gross earnings OF the Fort
Scott road for the same period were in
creased sol ,0jS.Gl by interchange Of bust
ness with the Clinton roads The gross
earnings from business inteTchangcd with
the Kansas City, Springfield & Memphis
amounted during the year 10 .S9i 5000.
The road carried In 1887 G2l, 126 pas.
scngeu, an increase over 1896 Of H.
1871, and ,75g,O ig tons OF freight, an In.
crease Of 2l3,4J6 tons. Freight earnings
Der ton per mile decreased | mill from
1850, having been ~ cents against ~
cents ai prevailing rates, having bctn
lower on nearly every class Of business.
During the year 276 miles oi track were
laid with OO-pound steel rails, making
2,702 miles now In steel, aud leaving
1884 miles in iron.
The general managers report concludes
by saying that while the crops continue
short IN the section of the country
through which the road runs, business
must be unfayorably affected. The coal
and lumber business will be larger In 1855
than IN 1887. The Current River road
soon will DO completed, opening up the
largest body In pine timber In Missouri,
and enabling the Fort Scott 30 supply q
larger demand foryellow pine lumber Than
over before.