Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1889-03-27
WHAT IT COST THE %"
Directors Report on the Figures of the
Great Strike.

Directors Report on the Figures of the
Great Strike.
BosToN, Mass, March 19.-The annual
report of the Chicago, Burlington &
Quincy Railroad for 1883 shows COM
paratively as follows: Gross earnings,
500, 7S9, l67: decrease from last year, 49,
7o6.9l0. Expenses and taxes, $18,SS
459; increase, So, 784 $40. Net earnings,
$4,9G6,7OS; decrease, S6,571 ,457. Total
net earnings, adding interest, exchange
and other income, 5000, 300; total de-
crease, 81 ,260, $40. Fixed charges, S.
996.712; Increase, $7I0,628. Dividends
$3,8i9,57S; decrease, 1921 1886. Deficit,
$4,739,9SO; increase, $5,6S0,05l. Lano
receipts, $4OS,555; decrease, $158, 528.
Miles operated, 4,9l7; increase, 224
Capital, SIC, 393, sos; increase, $3,205.
Debt, 500, 665, 988; increase, SS,399, 2SI.
The miscellaneous income was re-
duced by reason of the strike on the
Hannibal & st. Joe and the Council
Bluffs roads, so that they returned nc
dividend to the Chicago, Burlington &
Quincy, while in 1887 they paid $685.
764. The operations of these and other
outside lines Of the Chicago, Burlington
& Quincy are given more fully than u.s.
ual. These controlled properties con-
sist of 1,l15 miles of standard guage,
2l8 miles of narrow gauge, and % miles
jointly operated. The total debt Oh
these properties outstanding, and not
owned by the 60" is $l6, 100000. Their
comparative reports are: Gross earn
ings, 1904 1896; decrease. ST. 400, 497.
Expenses and taxes, 81 1888. 951 increase,
$l51 ,063 Net earnings, $1,303, 045; de-
crease, 81 ,553, $50.
The directors say: CATER many pros
porous years the Chicago, Burlington &
Quincy Company has experienced a
year of serious reveTses. After paying
fixed charges, including 100000 con-
tributed to sinking funds, and dividing
5 per cent. upon the capital stock, the
accounts show deficiency for the year
of 1881 ,425, which it has been neces-
sary to take from the accumulated sur
plus of the company. Chief among the
causes of the falling off in net revenue
from the operations of the road was the
strike in February. This was not the
only cause, however. There has
been diversion of traffic to
other roads, and a decline in
rates. A decline in rates has been due
to the difficulty of self-regulation among
the railroads without the right to pool,
which was taken away by the interstate
commerce law. An effort is now being
made, among railroads west of Chicago,
to provide, through an association, for
maintenance of uniform rates, which it
is hoped will be successful.
'The directors find it difficult to IN
derstand what serious evil the recent
railroad laws are designed to remedy,
and say that it cannot be denied that
much the most serious feature of the
railroad situation is the attitude of the
making power both national and
state.
''The increase in expenses during the
year is due partly to the fact that we
have operated an average of 1850 miles,
as against 4, 239 in 1887, the new mileage
being unproductiye. A large part of
the increase in expense is due to the
strike of the $500 trained men, which
destroyed large part of the
great machine, the task of reconstruct
ing which had to be undertaken and
performed without allowing the ma
chine to stop or become impaired.
This involved and still involves extra
expense. To make the force equal to
the OLD in all respects is merely ques-
ton of time''