The Delta independent., 1894-09-12
nE REPORT.
RIO GRA.-
'1PRov-
BUSINESS TEApILY H..
INC.
BUSiN ESS

Ei~bth Animal Statement OF President
Jeffery sufnitted MT d Meeting Of
holdeA--Comparatve Tables
| show tho }onderfuI vitality of the
Road and Is Ouickness of RecnPera-
tion. d., .l, -,
Denver, Sat. 1.-THE eighth an
nual report d President Il. I. Jeffery
Of the Denve g. Rio Grande railroad
company, to the stockholders or the
company, coSring the operations of
the road for. the fiscal year ending
June 80, 1s9, together with the re-
port Of Comptroller Stephen Little upon
the companyf financial operations for
the same pelod, has been submitted
to the stockholders.
The reportof the President in full
is as follows
The income of your company from
all sources d,cing the fiscal year end
ed June 80, 1914, including $4,000 re
ceived for interest, was S6,4S6, ,343.5S, Il
decrease of G,335,s7795 compared
with the prevpus year. The gross
earnings from the operation of the
tailroad were S6,47GOi3.5s. being n
decrease of S2S41 ,6D2.aJ.: The work
ing expenses were .S3,97a, ,551 II; a de-
crease of $1;3O9533.75; making the net
earnings from traffic $2.5O3, 1924, or
81 ,532, ,O69. 20 less than for the previous
year. Tho reelection in earnings was
30.5O per cent? in expenses 2.SO per
cent. and in net earnings 1896 per
cent.
Your directors deemed 1t prudent TO
suspend temporarily the monthly ap
tJropriation OF $4,000 to the renewal
fund and Of like monthly amount 10
the betterment fund, .at 1t is their In
tention to resume them when business
conditions and the earnings OF the com
pany will warrant.
Current liabilities were reduced dur
ing the year from S1.S6S. .S73.s9 TO L.
1876 ,963 .33, and on June 30. your eur
rent assets exceeded your current lia-
bilities $1,47O.1 .10i.79. against n CORES
ponding excess of 81 ,35l. .229.31 on June
30, 1898
Your company has IN Its treasury
bonds and stocks aggregatins Mt par
S3,1lO,15O which cost 81 ,625, 1904. and
in addition has In its special renewal
fund cash and securities aggregating
at par S56S. 1S4.Oj, the cost of which
was S4G7 .546.s5 The total Of NIL be-
Ing at par S3,67s,334.05. and at cost
5000. 1877 80; but for prudential reas-
ons 1t has been deemed best to reduce
the value of these securities In the nc
counts $151.3T9.74 by charging to
profit and loss S12l.4T9.74 and reduc-
ing the renewal fund $4,000. thus
making their total value on the books
1871 ,357S5.
The retrenchment In expenses inaug.
urated at the beginning of the fiscal
year. and referred to In the supplement:
tai remarks of your directors Mt the
end of their last report, was continued
throughout the year. The large dc.
crease In tariff permitted fewer trains
and entailed less wear and tear upon
roadway and equipment. Reference
to the statements submitted herewith
will show In general wherein the re-
ductions were made. The decrease
below the working expenses Of the
previous year was. as already stated.
about 81. 800. 600, OF which nearly $500.
600 was In conducting transportation.
$4,000 In maintenance of rolling
stock and about $153,OOO In mainten.
ance of roadway. The operation OK
penses were 61.34 per cent OF the earn
ings, against $500 per cent of the
year ended June 30, 1893.
The net earnings Of your company
were sufficient to afford surplus OF
S7,661.33 after providing for interest
on funded debt. insurance and all 9th.
cr charges against income. Every ex-
pense incident TO the operation OF your
road for the year has been approprI.
ately charged. including that incurred
In June on account OF the disastrous
food In the valley OF the Arkansas riv.
er. but for which the surplus for the
year would probably have been from
S1G0,OOO to $4,000