The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-22
NOT A BAD SHOWING
Annual Report of the Lake Erie
q Western Railway Company.
Net Earrings Last Year We're 81 ,462, 1897
and the Surplus S221, 407-Equip-
ment and Other Matters.

Calvin S. Brice. president, and George /.
Bradbury, general manager OF the Lake
Erie & Western, yesterday issued their an
nual report for the year ending Dec. 81,
1893. During the year the company operated
725 miles OF track, divided into four divisions.
The gross earnings for the year were $3,5l2.
62O.2; operating expenses, g. 81; net
earnings, 81, 463, s77.3S; disbursed in dividends
on the preferred stock, 1892 900; surplus, S22l,-
1914 The freight traffic shows a decrease
Of 701 per cent. in tonnage, the earnings
per ton per mile a decrease of .729 cent
to .704 cent, or .025 cent, and the gross re-
eeipts from this source a decrease of PSI
per cent. The passenger traffic shows de-
crease Of 9.06 per cent in the number of pas
Bengers carried, decrease of Isl per cent.
Ia earnings. The decrease in the rate per
passenger per mile was five hundredths of
cent. The average haul per passenger in
creased 2 T-1O0 miles. the average receipt
per passenger increased five and three
tenths cents. The gross receipts of the first
six months of 1898 exceeded those OF 1892 by
SlSS, 1883. while the gross receipts for the
last six months decreased, as compared
with 1892, $2H,605.60, caused wholly by the
depressed condition OF business generally
prevailing. The issue and sale Of 100000 OF
the company's second mortgage bonds was
for the payment Of five hundred freight
cars and ten heavy locomotives, which were
ordered early in the year, and at a time
when the increased business seemed to JUS
tify the addition to equipment. Quarterly
dividends Of IL per cent upon the preferred
stock have been paid during the year, in
additiop to which the company has ex-
pended in additions and improvements s207,-
1905.
Details of earnings were as follows:
Freight, s. 123, 413.59: passenger, 1916, 217. GO;
express, s5l,e52.76; mali, S6495552; car mile,
age. Sl95,035.56; miscellaneous, $50 9S5 II; to-
tai, SOP, 6202z; for the corresponding period
Iast year they were S.5oS .4S. a decrease
The number OF locomotives is 40. all but
-FOUR oi Whlcn are IN active service, and
In good or fair repair Two heavy Mogul
engines were added during the year. The
passenger equipment consists of three COM
binatton chair and sleeping cars, four chair
cars fifty passenger cars, six combination
passenger and baggage cars eighteen bag
gage, mail and express cars. and two Off
cial cars, all IN good or fair repair. The
freight equipment consists of 4010 local
box, All Midland line box. 1.032 refrigerator,
us stock, 263 coal and $50 fiat cars, fifty
two cabooses, three derrick cars, two wreck
ing cars, two pile drivers one bridge car
penter's car, three tool cars. one snow
plow and one steam shovel, all in good or
fair repair. Five hundred local box cars of
$1,000 pounds capacity were added during
the year. The maintenance of way depart
ment expended $685., 394.35; maintenance of
power and cars S293, 923.1S; conducting
transportation. S1,159.9s69S; general ex-
penses, $2,04S, 1924; ratio of expenses TO
earnings. 1888 per cent
During the year twenty-eight bridges were
renewed and 103 pile and trestle bridges
were renewed, aggreg eating in all 1870
lIneal feet. One hundred and seventy-eght
cattle guards We're renewed, ia of which
were of steel. Twenty-one miles of new
heavy steel rail We're laid and ISL 30S, 900
new ties put in. The divisional yards at
Lima, o., were reconstructed and
enlarged. Eighteen thousand, four
hundred and twenty lineal feet OF
iron track were taken up. and 1881
the whole thoroughly ballasted with gravel.
requiring 1.150 carloads. This yard was
vastly improved; il was extended TO about
double It's former capacity, was graded TO
a level requiring the handling of over three
thousand carloads Of earth; IL, 600 new cross
ties and thirty-siX sets of switch ties were
cd