New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-30
RAILROAD INTERESTS.
THE CONSOLIDATED ROADS REPORT.
PRESIDENT CLARK's ANNUAL REVIEW or TIKI


BUSINESS DONE BY THE SYSTEM.
New-Haven. Conn. Sept 2s-The twenty second
annual report of the Board OF Directors to the
etockholders OF the New-York New-Haven and
hartford Railroad Company, to be submitted at
'her annual meeting in this city October Is has
been issued President Charles F. Clark, in his
statement. among other things states the follow
ing IN regard to the business and condition Of the
company Tor the twelve months from July !, 1892
to June 30. 1893 inclusive: Earnings from passenger
department. $.M,5i5; from freight department.
%l1b5A from rents, $3.50. aO4; total gross earnings
from operation NS.llSi7i less operating expenses
oS1 per cent?. sl2.iO593i income on stocks. bonds,
etc'' 2lO,OS; total income. $,9l7j53. Deductions
from income are as follows: Taxes sS45 sjs inter
est on funded debt. current liabilities deferred Ia
biiites rental of leased lines ETC. make total de-
auctions 2sis54 balance of income applicable TO
dividends. 9s7s9s dividends paid s2si5535;
plus for twelve months. $50 isS.
These figures include roads leased during the year,
but do not include property acquired by lease OF
the Ola Colony system, reports Of which will date
| June 30, 1893 The report made last year covered
5o8Os miles The company now operates 493 miles.
Every share Of the New-York. Providence and
Boston has been converted into New-York, New
Haven and Hartford stock, has also that of the
Hartford and Connecticut Valley Railroad Both
roads have ceased to exist as separate corpora
tons The company's Office building at New Haven
is nearly completed and will be ready for occu-
pancy by the New Year. Among the obligations
caused by the absorption Of the New-York. Provi-
dencs and Boston Railroad Company and the lease
of the Providence and Worcester and the Old Col
ony property which includes the Boston and Prov
idence Railroad, is the creation of terminals
in the city Of Providence An expenditure of not
less than N,50000 must be made Al that point
The contract with the Wagner Palace Car Com
pany expired October 81. 1892. by its terms
The directors. believing that the owners of the
railroad entitled TO the revenues from paror
and sleeping its lines. declined TO renew
the contract. and the company is now operating
it's own service. except that between Boston and
Washington by the Pennsylvania Railroad.
Although this country is now passing through 4
season OF financial depression the business of the
company to the present time has been remarkably
steady The rapid application of electricity as
motive power upon the highways naturally brings
the attention OF railroad managers to the compe-
titon thereby created with existing steam roads
The demands of the public upon steam railroads
for expensive stations. prompt and frequent ira IN
service and protection by gates and hasmen 81
grade crossings. in competition with the free right
of way and cheaper construction Of electric roads
NAV be unjust; and the motor will at first
diminish to appreciabe extent the earnings OF
steam railroads from local travel. An ultimate
advantage by the development of local centres and
of suburban properties may be anticipated. but
meanwhile the owners OF steam railroads may
reasonably expect their managers to lessen local
service in proportion diminished business. In
dependent of any consideration Of gain or loss the
duty remains protect the public against the new
danger created by these electric roads at railroad
crossings Accidents will be caused by the electric
car becoming disabled by loss OF contact with the
current and REMAINING helpless on the crossing. II
the public eXgency requires these roads TO cross
steam roads il should first compel a separation OF
grades under the operation of law
The number of passengers carried mas bten
33ls7so number OF tons of freight carried, ss5sl"
earning revenue.
The assets follows Cost OF ROAD
81 sf6 si4. stocks OF leased lines $4,000: invest
ments 81 i53 So: cash and current assets. NllN
contingent assets. sl2s.us. Liabilities Capit"l
stock $50 g3s 600: subscription to convertible de-
benture certificates S}.2s 500 funded debt Si5o0cO
deferred liabilities $4,000 current liabilities.
g. 80 $685. accrued liabilities. 1885, profit and loss.
S6 ~