Los Angeles herald., 1892-01-07
The Southern Pacific Com
pany's New Bridges.
Points From the Santa Fe's
Annual Statement.
Watch Charms Made of Metal From
Another World.
Southern Pacific Bridges Built Above
Flood Level-The santa Fe's
Accounts for the Past
Year-Notes.

to get caught by having any more
of its bridges in this city swept away
by floods.
Yesterday its new upper bridge over the
Los Angeles river, on the San Francisco
line, was formally made part Of the
main, line being turned over by the con-
struction department. The new bridge
is OF iron spans, one 200 feet long and
the other so feet. 1t was thoroughly
tested on Tuesday being filled with loco
motives from one end to the other, but
not sign of weakness could be found.
The bottom of the bridge is four feet
above the level OF the highest water on
record.
The iron for the bridge for the cross
ing of the Yuma division is already on
the way from the east, and work put
ting it up will commence on its arrival.
This will also be four feet above food
level, and will consist of but two spans.
THE SANTA FE's STATEMENT.
The following is condensed state
ment of the last annual report of the
Santa Fe company. 1t is of special in
terest from the fact that it represents
the operations of much the greatest rail-
way system, in point of mileage. that
the world has ever seen. The mileage
owned and controlled by the company is
classified as follows:
Miles.
Atchison, Topeka and Santa Fe sys-
st. Louis and San Francisco railway
I AZ
Colorado Midland system .......... $50. AZ
This vast system extends from Lake
Michigan to the Gulf of Mexico, to the
Gulf of California and to the Pacific
ocean, and in its course crosses or enters
eleven different states and territories,
and also reaches an arm down into the
republic of Mexico. The capitalization
OF the company has reached the vast
amount of $346, ,26I 900, or about 31s per
cent of the entire investment in the
railways OF the United States. OF this
amount $102,0O0,000 is represented
by capital stock 1921, 1896, 900 by
funded debt, and 4,0l0, ,946 by income
and surplus. The great scheme of re-
organization which was inaugurated in
1890 has been carried forward with very
satisfactory results, the holders of old
securities having almost unanimously
accepted the proposed exchange, and
from condition of pressing indebted
ness and imminent danger of receiver
chip, the company now appears to be
able to meet ali its obligations as they
come due and to have a comfortable
cash balance for current needs. At the
date of the report the credits under the
head of current accounts" amounted
to S17, ,476 1856, made up as follows: Due
from agents, companies, ETC., in operat
ing and traffic account, So, ,135, ,453; bills
receivable, $307 ,769; demand loans Sc
cured, $3,787, IA; cash, $4,023 1872 se-
curities in the treasury available for
S5snn' S57. . '''S''''n'' '0'1NN'
The business OF the company during
the year exceeded all precedent. The
report for some reason does not present.
the aggregate of the different systems,
giveing earnings of the St. Louis and
San Francisco and Colorado Midland
separately from those of the Atchison,
and making confusing distinction be-
tween the results of the St. Louis and
San Francisco companies proper" and
general" but the aggregates, as we
make them, are as follows:
Gross Net
earnings. earnings.
sauta Fe system suan~ $ss, ,ees,71e s9,62o,54s
cisco ..,.,.......... : - s,433,7I5 1928, ,176
Colorado Midland 1868, 1856 5sI,367
Total ............ S44, ,O65 ,697 $13, 25, ,089
1t appears, therefore, that in a single
year over $44 .000, 900 were earned by the
operations Of this one system, OF which
$3l 900, 900 we're disbursed in operating
and general expenses, leaving $13,
089 to apply in payment of taxes, rentals
and interest on bonds. The owners of
the $102, 100000 of capital stock unfor-
tunately do not at present receive any
return on their Investment, although in
former years Atchison, Topeka & Santa
Fe shares paid liberal dividends. The
construction and purchase of thousands
of miles of road which are as yet unprof-
liable and the loss of business from the
failure of crops in a vast region of
country reached by its lines, added to
the increase of railway competition and
the severe pressure of litigation, are
accountable for the less prosper
GUS condition of this company at
the present time. But the new
lines are steadily developing the coun-
try which they opened, the immense ex-
penditure5 for improvements of road
way, buildings and rolling stock which
was necessitated are rapidly decreasing
the expense of operation, and the pros
poets are encouraging for an eventual
return to dividend payments on the en-
hire capitalization, although the propri-
etors will doubtless have to be contented
with low rate in comparison with that
which they once enjoyed.
The "Atchison system" proper-7,-
Ill 81 miles-shows gross earnings of
S33 1863, ZIG, an increase of $2,659, ,359,
and net earnings of $500, ,546, de-
crease OF $463, ,424. The falling off in
net in spite OF the very large gain in
gross is accounted for by the extensive
repairs and additions to rolling stock
and the large outlay for maintenance OF
way and improvements. An illustration
of the extent to which earnings may be
absorbed by extraordinary improve
ments is given in the following items OF
expenditures:
Gulf. Colorado and Santa re rail-
way, including rebuilding OF
Dallas and Paris branch. ..... 8 ,29Z,5l5 80
Southern California railway;
mainly raising and protecting
tracks in cafions from foods. l99093 81
sompletion chiefly ...'.-...... 1.00oO5s 10
an ments euas' ''. ...s'........... s - 6o,4s2 73
Total improvements .... 80, ,552, ,150 Ii
4. k~r