The Superior times. [volume] (Superior, Wis.) 1870-1912, 1889-03-23
WHAT 1T COST THE %"
Directors Report on the Figures of he
Great Strike.

Directors Report on the Figures of he
Great Strike.
BosroN, Mass, March l9.-The annual
report of the Chicago, Burlington &
Quincy Railroad for 1883 shows com
paratively as follows: Gross earnings,
S23, SO, l61: decrease from last year, s., :.
7o6,9l0. Expenses and taxes, $l6.SS2,
459; increase, s., ,7S4. $40. Net earnings
1896, 70S; decrease, $6,57l ,457. Total
net earnings, adding interest, exchange
and other income, $5,076, 800; total de.
crease, S,260,9l0. Fixed charges, S..
996.7l2; Increase, Sl0,62S. Dividends
$3,Sl9,57S; decrease, s., 29l 1856. Deficit
$4,739,9S0; increase, S5,6S0,05l. Land
receipts, S40S,555 decrease, $l5S, ,52S.
Miles operated, 4,9l7; increase, 224
Capital, S76, ,393, 500; increase, $3,205
Debt, S99, ,6b5 ,9SS; increase, SS,399, ,2Sl.
The miscellaneous income was re.
duced by reason of the strike on the
Hannibal Il st. Joe and the Council
Bluffs roads, so that they returned nc
dividend to the Chicago, Burlington &
Quincy, while in 1887 they paid $685.
I64. 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,ll5 miles of standard guage
2lS miles of narrow gauge, and 90 miles
Jointly operated. The total debt OF
these properties outstanding, and not
owned by the 90" is $l6, 460, 900. Their
comparative reports are: Gross earn
Expenses and taxes, s., ,73S ,951 increase
$l5l ,O63. Net earnings, 81 1903, ,045; de-
crease, 81 ,553 $50.
The directors say: "After many pros
porous years the Chicago, Burlington &
Quincy Company has experienced a
year OF serious reYerses. After paving
fixed charges, including 5000 con-
tributed to sinking funds, and dividing
3 per cent. upon the capital stock, the
accounts show deficiency for the year
of $4,331 ,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 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 un-
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
law-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 1859 miles,
as against 4 ,239 in 1887, the new mileage
being unproduclive. A large part of
the increase in expense is due to the
strike of the $500 trained men, which
destroyed a 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 F"