New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-09
REPORT OF THE ATCHISON.
EXPLAINING THE MsFoRTUNEs OF LAST
YEAR
THE. SYSTEM AFFECTED BY THE GENERAL DE-
PRESTON IN WESTERN EAlLhoAD
TRAFFuC-pIsAsTRoUs RESULTS OF
LEGISLATION.

TRAFFQC-pISAsTR Gus RESULTS OF
CERTAIN LEGISLATION.
Roston Nav s-The annual report Of the directors
Of tho AtchIson, Topeka and Santa 70 Railroad Tor
the yoa~ ended December 81, 1885, was given out this
evening comparison being made with the year 1887.
II shows: Average number Of miles operated, 5000:
rcroasc 3OT gross earnings, s15,Gl2.9l3; decrease
90 s4s,453; operating expenses, including taxes,
s11 o27 18l; Increase, S6Is ,7O7 net earnings, de
Quoting taxes, s4,5s5,oo1 decrease, s3,407,loo IL
will thus DO seen that the earnings for me year
1898 are 90 Asa less than during tho preceding
year decrease Of Is 40 por cent. OF TINS decrease
ssOi OOs Is the loss passenger business and T2oo4
400 "a tho loss on froght traffic. The deficiency for
twelve months to December 81 Is Sl,ol7,ssO; total
surplus to the same date, 81 1888 $50; net surplus
&C. 435,65l. The reduction Of business is due
first 10 The unusually light crops iof
two years and tho consequent depression OF all kinds
Of business throug hout tho territory. Tho earnings
have been further greatly reduced through the con-
sructon Of new lines In Kansas By other companies,
which have covered tho region With a network Of
roads. reaching almost every place Of consequence
on tho Atchlson lines, aud dividing the business
which has heretofore sought this road.
Following the opening Of these new lines came
active competition for the diminished business, and
a reduction Of rates, which had Ia 10 mot but which,
under tho provisions Of tho Interstate bin, could be
met only At the cost of proportionato reductions
whether they we're reached by competitors or not
Before the enactment OF that law this competition
would have been regulated by an arranged DIVISION
Of business, but any such Arrangement being no"
prohibited. he competition has continued with tho
usual result OF loss 10 all interests.
In common with all rOads, and particularly with
those OF tho West the Atchison has suffered largely
from nnrcmunsratIvn rates Many causes have CON
r1buted TO tho existing trouble In this respect.
First should DO counted tendency TO low
rates which his long been growing. With all the
Influences WORKING practical combination "
reduce the earning power Of the railroads their rSh
10 make any combination for self protection ha> been
denied By state and National enactmeniS The theory
Of thcse laws Il radically false because they overlook
the fact that the public interest requires stability tn
rates not less than that they should be fair Aud
reasonable
In several OF the wcsuyn states rates have been
| established by law which rInouSly low Al
| though the Achson system has Lr"n comparatively
free from this Injustice It Will easily be seen that
Il cannot entirely escape The effects Whom rates IN
Iowa arr arbitrarily forced down. tho difficulty OF
maintaining fair ratios In adjoining states I, lmmca'
urnbly inc rcascd Il IS natural that Nebraska ana
Kansas should object 10 paying what Importation
Is WORTH whcn Iowa and Illinois can get It Tor less
Tho AchisOn Company hss every reason 70 appcia''
tho fair and reasonable treatment II has received from
| th. state OF Kansas but Kansas Is no exception
! IN tho rule that hard times Increase
| the difficulty Of maintaining rates. For instance
in tho fail of 1857, when the failure Of crops was
| bearing heavily upon tho peopE. the EalIroaa '""'
mission addressed a letter to tho kansas railroad com.
panies setting forth he existing distress ana Su8'
Costing a temporary reduction Of grain rates los
.c tvn was OF course made and the companies haF-
Ug ALREADY lost In trai!c, l0st also In the conpch's
fun they ce,yci for what VA left thus TAXING Two
| shares, tu,ead Of one, % tbo common loss. In mo
| fall OF 1888, slmnar conditions existed INC RESULT
Of another failure OF crop4, aad again tho ra'r"ahs
| ser, asked to ueet the emergency by nSincu"n Oh
| .,cs Tbe companies TO which e. was addressed
uere suffering from the general prosira;ion OF bns'
! ness and enormous losses OF revenue Dut t"e -
| ,h,cf,on called for made, and grain S'h'lnIe
| mn, into effect which, who It no doubt tended !"
| diminish the hardshlps Of tho general pIbhe' u'"
| teri.lly Increased thO-r Of ue ra!IrONls'
| T,n lat vnter having been worm and oPon'
| a.. demand for coal has been small and the Gnouht
| TRANSPORTED cOrresppndngly light II "0Ola 1om'
u bu.pgss principles considered tha' uhu'F hu'h
Ances tho carrier should be permitted 10 main
tain the RATES hut the rcvcrs' has happehoh. IN"
RanrpHd Commissioners IN obedience to tho puUio
demand md legislative resolution, have called upon
tho rar,ads OF the state reduce their coal rates
from 10 to 90 per cent. Returning prosperity VIII
no doubt m materially diminish the demands MADE upon
The railroads for lower rates.
II is believed By the directors that the new Soci'
alton ~ wes,ern road. for preventing unnecessary and
public and railroads. The expenses OF Sp1rsU'n ~
averaged 1910 lcss per average mile operated an "a
400 M fSo rSccSS being entirely due increased
| mirage Tho condition Of the toM hr,dEc' ahl
buildings a. we'll ~ that OF It's rolling stock has been
hIIy maintained and was never better than at prs
| cnt The uuiavOrlble insults nom operating Ihc
road in the past ,e ys Of 9AyS the Gccfos D in
the dividend IN the fall OF 1897 TO per cent lhtt
vac ersy T Hs roaS 70" the last hsf OF 1857 would
br greater than for tho first bali Of TIE year. as h9d
usually been The ca nat @ cause The
year 1857 formed remarkable exception to what hal
a,,,,rvs AZ the close OF 1855 the capital stock Ia
Guiding SCRIP outstanding. amounted to @to,Wu,VuO
| cstatc conStrlctlOn, permanent improvements, ETC.,
fIG,a00ols, Of which s262,G Is charged 10 aux
' c6m6Inoi with tho report full statements Of tho
income accounts, balance sheet and STATISTICS rrhprt
nsnt and the varions leased and proprietary proper
ties owned controlled by the AtchiSuh lnmpaby a.
S %s I 10 he Atc con Company Of all It's properties
owned or controlled. OF Oklahoma the report Gays
the Atrhson line will he largely Increased by the SIT
Element OF this region, as thn line passes norm an,
road by which the country IA directly reached
Topeka Kan. May Sin the party which accom-
panied President Strong 10 attend tho annual meet
ing Of tho AIchison Topeka and Santa Fe Railway,
he held here tomorrow, arc Thomas and Cecil Barring
bf tho famous London banking firm Of Barring brothers
They are large holders OF Atchison securities. anc
| naturally feel deep interest in the affairs of tn
road. Kdder, Peabody & Co, who arc understood t.
advocate r radical change IN tho management Of th
road claim 10 have secured proxies enough TO carr
| tho election Apparently they have no designs OF
President Strong, as he seems to he IN accord VII
them IN the present movement. Report has II tina
tho new board Of directors tomorrow Will be- dis
tinctlvely a bsnkers' board.
THE PENNSYLVANIA INCREASING IT'S STOCK
Philadelphia, May Sat the regular meeting Of tn
Pennsylvania Railroad directors, to-day,
was decided TO make por cent allotment Of stock
Agony IL Courted
Rr nnr.nn. who ATTACKED By mild Of rheumatism