The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-19
M'KEEN'S RAILWAY SYSTEM
Forty-Fourth Annual Report of the I.
H.&I. Company and Leased Lines.
Decrease in Net Earnings Caused by an In
crease in Expenses-The Big FOur's Effort
10 Get q Slice of Louisville Business.


The annual report of William r. McKeen.
president of the Terre Haute IL IndIanapo-
lis, for the last fiscal year has been pub
lished In implicit form. being the forty
fourth annual report of this company. The
report says
The gross earnings. amounting to sl,2s3.-
previous year, OF S4S,417.5l. or 1892 per cent.
The expenses absorbed 72.S6 per cent or the
decrease OF 10 So per cent The operation OF the
81. Louis, Vandalia and Terre Haute railroad re-
suited in profit Of sS7 59aaS, OF which Two
pany, decrease. as compared with the previous
year. OF $7,O95.05. In operating the Ierre
was incurred OF $S,019,77. q decrease,
when compared with the previous year or $50
72457. and In operating the Indiana q 6ake
Michigan railway q loss was incurred OF w.
942.5s. an increase, as compared with the
previous year, of $2.542.76. ALI of the notes
Railroad Company in settlement OF rent due that
company up 10 Jan. L, 1880, have been paid
The balance OF rent due that company Io1 t I
three years ending Dec 81. 1892. Is Sl23, 9l2 80.
During our fiscal year ending Oct 81, 1877.
dividends to the amount of S91,2So were re-
celved by your company upon the preferred
stock owned by it in the st. Louis. yandalia &
Terre Haute Railroad Company. In May, 1877
line OF boats was put on between o. Josepn'
Joseph and Lake Michigan Transportation Com
pany. At the close CT our fiscal year the benefits
anticipated from this boat line had not been real
tied The principal reason for this result is to be
found In the extremely low rates for lake ana
rail traffic through the straits or Mackinaw tnat
prevailed during the whole season or Navigation.
In regard to the leasing of the Terre Haute
& Peoria road. President Mckeen says:
By the terms of the lease your company is to
operate the railroad and property OF the Terre
Haute Peoria Railroad Company i0r period
MI. afxr mi. frnV n
reserving 20 per cent. per annum OF the gross
earnings for operating expenses, the remaining
taxes interest on bonded debt and rentals for
portions OF other railroads used as q part or the
main line between Terre Haute. Ind. and Peoria,
H.: the surplus, If any. to be paid To the Terre
Haute & Peoria company. Should this 80 per
cent OF gross earnings, however. be insufficient
st any time TO pay charges against IL, the Ierre
Haute * Indianapolis Railroad Company agrees
TO advance whatever sum may be required 10
make prompt payment OF the charges SPECIFIED,
aud to that end the mortgage bonds or the Terre
Haute * Peoria Railroad Company have been
guaranteed by your company both as TO princf
pal and interest
The earnings and expenses of the various
divisions are thus summarized:
On the Terre Haute & indianapolis division
the earnings equaled $16 1926 per mile OF
main line. an increase OF sos. so per mile as
compared with the previous year. The expenses
absorbed ~. SO per cent Of the earnings. an in
crease or $50 per cent. as compared with the
previous year The net earnings were $34o,-
on the Ct Louis, vandalla & Terre Haute d.
vision the earnings equaled Sl1,slO.Ol per mile
OF main line. an Increase of $3s9.59 per mile IA
compared With the previous year The expenses
absorbed 67.99 per cent OF the earnings. an In
S59s, $685. 5 out OF which was paid rent to
the ST. L., V. Il T. II. l. K. Co. the sum of $780,
99se0 go per cent OF the gross earningsl. there
Of this profit, viz, $l0,742.2l. accrues TO the
Terre Haute l. indianapolis Railroad Company.
earnings ms equaied ss,752.1s per mile of main
line. an increase or S3l4.16 per mile. as com
pared with the previous year, The expenses
absorbed 1917 per cent. q decrease or . per
Bent, as compared with the previous year. The
net earnings were $I63.374-S6. an increase OF
Of the rental ssn cent the e1
earnings. amounting TO $l71 .3s463, there was
net loss OF $s.O19.77, which was $3O72o.57
less than for the previous year.
On the Indiana q Lake Michigan division the
expenses were $6.597.95 in excess OF the earn.
ings, and after the payment OF 20 per cent OF
the earnings as rental there was net loss OF
s17e42.5S. While there is a gratifying increase
Of 1880 per cent in the earnings OF
Ga WA: hU 5SPs iSr nos expected a''s sas
stantial dock and commodious warehouse
Joseph river. aud ready for use by the middle of
May, 1892. The connection with the Chicago *
West Michigan railway in St Joseph Was great
1y improved. and facilities for the interchange
with that road. both of freight and passenger
business. correspondngly increased.
The Peoria * Ierre Hdule ROAD passed INTO the
possession of the Terre Haute * indianapolis
Railroad Company Oct. l, 1892. After deduct
Ing 80 per cent. OF the gross earnings as rental
there is left a balance for operating expenses OF
Terre Haute 81 indianapolis Railroad Company
OF $149.46
The Big Foar's Louisviile Line.
A telegram from Jacksonville says ut
has become known that the Big Four is in
terested in the building of the Jefferson
Vile and Louisville bridge and will see
that il 10 pushed to completion as soon as
possible. It is understood that four roads
will use this bridge-the Big Four branch
coming from Aurora through Madison and
the branch from Vernon, the Airline from
New Albany and the Chicago IL Eastern
Illinois from Terre Haute TO this city by
way of Bloomfield. Another road is talked
of being built from Richmond, via Brook
VILE, to Madison and hence TO this city.
Work on the new bridge will be resumed
about June l, and work on the Big Four
extension and the L. q +. i. roads will
begin this summer"
While there may be some foundation for
the foregoing. the following regarding the
situation is true: The proposition of Pres
ident Ingalls,. of the Big -Four, to extend
the Aurora branch of the Jacksonville "
New Albany has stirred mp the new man.
agement of the Ohio ~ Mississippi. and
tho latter has asked President Ingalls, TO
delay action until q conference can be held
looking to the Big Four using the tracks of
the Ohio ~ Mississippi between North Yer
non and Louisville. This is what Pres
ident Ingalls, for many months labored TO
accomplish, but failed. and unless the @.
a. Nj. offers very favora BILE ind ucements the
Aurora extension TO Jeffersonville will be
built.
Pennsylvania Relief Department..
The monthly bulletin of r. f. Smith.
superintendent of the voluntary relief de-
partment of the Pennsylvania lines west
of Pitsbure. shows that in April s55G6 was
dishursed IN death benefits $500 for
deaths by accident. and 5000 because OF
natural death. In accident benefits 81. 499. SO
was disbursed; sickness benefits. 81, 1s5. 20
making the total disbursements of the
month S19. 5000. The death benefits paid
numbered eleven; accident, 4Ss; sick. sos.
making a total OF Loaf benefits paid. In
the forty-six months the department. has
been in operation SS26. 126 has been paid in
death benefits. and SsS5. 9.9l7 in disable
ment benefits. making o grand total OF
tS12.055.17.
Words Fair Rates VIII he Lower.
The meeting OF the transmissouri lines
At Chicauo veaferday was nroouotiva n,