New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-09
ANNUAL REPORT OF BURLINGTON.
PRESIDENT PERKINS CRIES OUT AGAINST THE
RAILWAY LAWS OF TIE WEST.

RAILWAY LAWS OF THE WEST.
Boston, April s.-The annual report Of the Chicago,
Burlington and Quincy Railroad was given out this
morning, 1t is few longer than last year. but
is made up In the same FORM The outside system
Is treated independently, although in the monthly
earnings reports it has been figured with the main
system. The only change made Is that land receipts
are included In the accounts so as to reduce the
deficit for the year, was done two years ago. NO
mention is made Of the Chicago, Burlington ana
Northern. Briefly stated the operations are as FOL
lows Gross earnings, $27 96o; operating expenses
81 53s, 455 taxes, 81 ,231 o43 rentals, $2O8,O71
interest on bonds, So 491 DOE sinking fund.- S765
total So5, 261; leaving net earnings s2 1852, 7O4
interest and dividends received, $608.034; total,
SO. 33s, 730; net land receipts, S17s,154; total,
So, 517 ,l04 dividends paid per cent, $3,sloe30
deficit S3o2435; capital, S76,394,o0o; debt,
$111 ,459,A62.
The outside system Of little over 300 miles shows
slight change in mileage for some years. as the Chicago,
Burlington and Northern has not yet been included.
The Chicago Burlington and Quincy owns all the stocks
covering these lines and Of the debts Of the properties
the Chicago, Burlington and Quincy owns all except
SIG, e5sOOO against S17,171,0O0 outstanding asyear
ago. Gross 81 4O4 619 operating expenses and taxes,
IS 35e 7o5: net So O47 914; other income, S60117
total net 2,1Os, 031 charges, S1,449,735 surplus,
1868 2oe paid c., B. and O., $6l0,oS3; net surplus,
S4S, a13.
President Perkins says: "Taking the year as a
whole, have not quite earned the per cent dlvl-
dend. So large part Of the country served by the
company's lines depends on the corn crop that any
serious damage to that staple must AFFECT business
of all kinds for many months. We earned during
the first six months of 1890, on our entire system,
from the carriage of corn shipped from points on
our own lines in Nebraska and Kansas about 1890,
600. We can't expect to earn much from this source
during the first half Of 1891. The effect OF a bad
crop is temporary; our serious difficulties come
from laws which do not allow us to do business on
business principles The association formed IN 1882
with the hope that 1t might result in the maintenance
of reasonable rates and the division OF traffic among
the railroads west Of Chicago accomplished ntte per
haps because the experiment was not trled long
enough without association 1t is impossible TO main
tain the price of railroad transportation Ihe law
prohibits pooling, the most convenient II not the only
effective form of associated action and 1t remains 70
be seen whether any substitute can be founa 10 ncch
the tendency unreasonabiy low prices WHICH Always
prevails with independent action . A.,
Without method OF efecuve co-operduVnh,
competing lines must become bankrupt, ana III INC
lief both In and out OF Congress- that the interstate
Commerce Law should be amended. Inc law mas
cost and is costing the country millions OF dollais e
pecialIy the region west OF Chicago and ST. LOUIS ana
II is an illustIat and warning OF the Danger OF
interfering by statute with what called the natraI
of accumulated property in the railroads OF the Unte9
states giving employment and support TO millions OF
men women and children and that inc pubic 6, can \
find IL for its interest long 10 MAINTAIN d"S "lOi
make that property unnecessarily and unnauraiy haz-
ardous and Improbable, would seem Impossible"