The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-11-13
THE ATCHIsoN nEBT.
Statement Of Expert Little to the Or
xanixation CommItaee.

xanixation Committee.
NEW YoRK, Nov. 12-Ths report of Ex-
pert Little, who has been investigating the
accounts of the Atchison, Topeka & Santa
lie Railroad Company. has just been made
public. Its salient points are as follows:
First. the net revenue for the year ending
June 80. 1894. exclusive of Atlantic q Pa
cific. Colorado Midland and st. Louis &
San Francisco lines, was IS. 1885, GA. This
includes the insTallment of S650.000 of the
Sonora Railway Company subsidy. which
should be deducted in considering earn
ings as the basis for a plan of reorganiza-
ton. If this subsidy is deducted the net
earnings will be reduced to s.. SOC, 6l4 In
terest charges, which are prior liens to in
terest on per cent. gold bonds. leave the
sum OF 81 sic 264 applicable To interest on
$l2s, 1856, 605 of bonds outstanding in the
hands of the public, which is equal to only
375 per cent The Atchison company
lost SOS. s24 by operating the st.
Louis, Kansas City d Colorado rail-
road. and the net earnings would
be increased s341, 4ol, the amount con-
tributed by the Atchison company under
the tripartite agreements with the Attain
tic & Pacific and ST. Louis & San Fran
cisco railroad companies. These two
sums. added TO the net earnings, would
bring them mp to 400 per cent. The gross
assets are 81 696 179. making the total net
unfunded debt $40, 40, 202. The indebted
ness April 30. 1894 of the Atlantic & Pa
cific was S. $50. SIS to the Atchison CON-
panv and Sc. $40, 200 to the st. Louis & san
Francisco. The Indebtedness of the st.
Louis & San Francisco to the Atchison
was 81. col, 269, and of the Colorado Mid
land TO the Atchison 81. 595, 9l6. which
claims, aggregating $1,000. 800. are appar-
entity worthless and should be written TO
the debit OF profit and loss. The interest
on the funded and unfunded debt and the
deficiency in each year from 1897 10 1894 is
as follows; 1901. interest 81, l69. 16i, de-
ficiency 81 964 2s5; 1892. interest S., a14.iII.
deficiency $50 93s; 1893. interest S.. 30. 4S3,
deficiency si3i SIS: 1884, interest SIS 90, S57,
deficiency S3.o0s, 242 making the total de-
ticiency for the four years S.. Is, 292.
In accepting these figures as a basis for
reorganization il must be taken for grant
ed that the present floating debt of the
company will be provided for and not
be charged against further revenue but
while il may be said the interest on the
general IS has been substantially earned,
the earnings depend to some extent on the
integrity OF the entire system. The auxili-
airy companies are severe drain upon the
Atchison system under the present system
Of fixed charges. The loss for the year of
the Atlantic & Pacific was 81. $50. GA, half
chargeable 20 the Atchison. The loss on
the Colorado Midland was $647. ISL and on
the ST. Louis q san Francisco s.. 999. 662.
all chargeabls 10 the Atchlson. On the
results of the adjustments that may be
reached with these companies, If retained
in this system, depends the real surplus
available for payment of interest on At
Gibson general As. Taking the earnings
for the year ending June %, 1894, as a
basis, the net aosting debt of the entire
system. exclusive of the Indebtedness of
one company 10 another now overdue. and
accrued interest on the funded debt. is
So l49 SOS; on the Atlantic & Pacific. SSsa-
sos. on the Colorado Midland, sIs3 SIS; on
the ST. Louis & San Francisco. SIS. -52
The gross anfunded debt IS SO. les. ISL