The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1894-11-16
EXPERT LiTTE's REPORT.
It Is Submitted to the Santa Re Re.
organizers.

organizers.
NEW YORK, Nov. ID. The report @
Expert Little, who has been investi-
eating the accounts Of the Atchison,
Topeka & Santa Fe railroad company,
has just been made public, being is
sued at the same time in New York,
London and Amsterdam. II is adj
dressed to R. S. Hayes, chairman Of
the Santa Fe general reorganization
committee. Its salient points are as
follows:
The pst~rsvenue for the year end
ing June 80, 1894. exclusive of the At
lantic & Pacific, Colorado Midland and
st, Louis & San Francisco lines, was
s5,956,614 This includes an INSTALL
ment Of $3.50, 900 Of the Sonora railway
company subsidy, which should be de-
Quoted in considering earnings IS a
basis for plan of reorganization. II
this subsidy is deducted the net earn.
ings would be reduced to IS, 400. 614.
Interest charges, which are prior
liens to the interest on the per cent
general gold bonds, leave the sum OF
S4,sl6, 264 applicable to the interest on
SIPS, 565, sos of these bonds outstand'
ing in the hands of the public, which
is equal to only S,75 per cent
The Santa Fe company lost s95, 1924
by operating the st. Louis, Kansas
City and Colorado railroad, and the
net earnings would have increased
s341, 40l, being the amount contributed
by the Santa Fe company under the
tripartite agreements with the At.
lantic and Pacific and ST. Louis and
San Francisco railway companies,
These two sums added to the net
earnings would bring them up to AOg
per cent.
AUXILIARY COMPANIES a DRAIN.
In accepting these figures as a basis
for reorganization it must be taken
for granted that the present floating
debt Of the company will be provided
for and will not be q charge against
future revenue. But while it may be
said that the interest on the general
tours has been substantially earned,
the earnings depend to some extent or
the maintenance Of the integrity OF
the entire system
The auxiliary companies are a Sc
we're drain upon the Santa Fe COM
pany, under the present system Of
fixed charges, the loss for the year on
the Atlantic & Pacific being 81, $50, O34,
one half being chargeable to Santa
Ee, the loss on the Colorado Midland
S647, 7e4, and or the St Louis & SsI
Francisco $500, 662, all chargeabls tc
the Santa Fe. On the results Of the
adjustment that may be reached with
these companies, il retained in the
system. depends the real surplus
available for payment of interest on
the Santa Fe general tours, taking
the earnings for tbs year ending June
30, 1894 as basis.
The net floating debt Of the entire
system exclusive of the indebtedness
on the one company to another now
overdue and accrued interest on
funded debt is So, 149, $50; on the At
lantic & Pacific, $3.50, SOC; on the Colo
RADIO Midland. S1s8, 35s; on the ST
Louis g. San Francisco, S4S7, 752. The
gross unfunded debsis S15, 1O6, 3Si anG
the gross assets 81. 500, ITO, making tbs
total net unfunded debt $40, 40, 209.
DEFICIENCY FOR FOUR YEARS.
The indie btedness april 80, 1894, Of
the Atlantic and Pacific was SIS, $780,
5S5 to the Santa Fe company and
S6,S49, 200 to the St. Louis & San
Francisco The indebtedness Of the
St Louis & San Francisco to the
Santa Fe 81, 6S1, 300 and Of the Colora'
do Midland to the Santa Fe 81, sos, 916
which claims aggregate SIC, O4O, 92O
are apparently worthless and should
be written to the debit of profit anG
loss.
The interest on the funded and IN
funded debt and the deficiency il
each year from 1891 to 1894 is as fol
lows: 1891 interest 81, 16s, 1874 deficien-
cy, Sl,964, 2S5; 1892, interest, S7,e41,'
Ill, deficiency, $50, S3s; 1898, interest
s., 200, 433, deficiency, S134, s25; 1894
interest. So, sg4, s57, deficiency, zoos,
242, a total deficiency for the foul
wars Of * I6e 900