Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1894-11-12
RATHER ROCKY.
Expert Little's Figures on the Con-
ditiOn of the A., II. 4 S. +.
Are Startling.
Sl6,OOO,OOO of Bad Debts-Auxiliary
Lines a Dead Weight-Four
Years of Deficiencies.

New York, Nov. 1.-The report OF Ex-
pert Little, who has been investigating
the accounts of the Atchison, Topeka &
Santa Fe railroad company, was made
public today. Its salient points are as
follows:
First, the net returns for the year end
ing June 30, 1894, exclusive of the At
lantic q Pacific, Colorado Midland and
st. Louis & San Francisco lines, was
$5,956,641. This includes the installment
of $3.50, 900 of the Sonora railroad COM
pany's subsidy, which should be deducted
in considering the earnings as basis for
a plan of reorganization. If this subsidy
is deducted the net earnings will be re-
duced to $5,6O6,614. Interest charges,
which are prior liens to interest on the
4 per cent gold bonds, leaves the sum of
$4,816,264 applicable to interest on the
$12s,365,6O5 BONDS OUTSTANDING
in the hands Al the public, which is equal
to only 375 per cent. The A., T. o. S. F.
company lost $95,824 by operating the
st. Louis, Kansas City & Colorado railway,
and the net earnings would have been in
creased $541 ,40l the amount contributed
by the A., r. q s. F. company under the
tripartite agreement with the A. q P. and
st. Louis & San Francisco company.
These two sums added to the net earn
cent. 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
not be charge against further revenues,
but while it may be said the interest on
the general fours
HAS BEEN SUBSTANTIALLY EARNED,
the earnings depend to some extent on
the maintenance of the integrity of the
entire system. ...
The auxiliary companies are severe
drain upon the A., T. d S. F. system
Under the present system of fixed charges
the loss for the year ON the Atlantic 4
Pacific is $1,36O034, half of which is
chargeable to the A., T. & s. F.; the loss
on the Colorado Midland is $647,754 and
ON the st. Louis & San Francisco, $685.,
662 which is all chargeable to the A., T. 4
s. F. On the results of the adjustment
that may be reached with these com
panies, if they are retained in this system
depends
THE REAL SURPLUS
available for the payment of interest or
A., T. & s. F. general per cent bonds.
Taking the earnings for the year end
ing June 20, 1894, as basis, the floating
debt of the entire system, exclusive O.
indebtedness of one company to another
now overdue and accrued, the interest OF
the funded debt is $9,149,5sS. On tn,
Atlantic q Pacific it is $589,5O9; on th'
Colorado Midland, $1S3,358, and on th'
St. Louis & San Francisco, $487,752. Th'
gross
UNFOUNDED DEBT is $15, ,1O6,381;
The gross assets, $4,696,179, making
total net unfunded debt of $1O,4102O2
The indebtedness on April 80, 1894, o
the Atlantic & Pacific was $5,8S9,535 tt
the A. T. g. s. F. company and $6S49,2Ot
to the st. Louis d San Francisco. Th,
indebtedness of the st. Louis g. San Fran
cisco to the A. T. & 8. F. was $1,661 ,26!
and of the Colorado Midland to the A. 7
& s. F., $l,595,916, which claims, aggre
eating $16,040,920, are
APPARENTLY WORTHLESS
and should be written to the debit sid
of profit and loss. The interest on tn
funded and unfunded debt and the defic
iency in each year from 1891 to '94 is a
follows: 1891, interest $7,169,164, def
cheney $1,964 ,2S5; 1892, interest 1894 III
deficiency $6O,938 1898 interest $s,22C
433, deficiency $134,825; 1894, interes
$S,964,S57, deficiency $3,OOS,242, making
total deficiency for the four years o
$5,168,292.