New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-08
RAILROAD INTERESTS.
ANNUAL REPORT OF THE ST. PAUL ROAD.

ANNUAL REPORT OF THE ST PAUL ROAD.
A BALANCE OF s3.714.732 ABOVE FINED CHARGES
AN INSURANCE DEPARTMENT ORGANIZED.
The thirtieth annual report of the Chicago NIL
waukee and St Paul Railroad Company for the
fiscal year ending June 30. just issued. shows the
results of the operation for the year. az follows:
Gross earnings, $3l 327.95l: operating expenses s2o
ll4333; net earnings. Nl.23.6lS; income from other
sources. less interest and exchange, $i,s62; fixed
charges. 81 1903, AZ. leaving balance above hxed
charges of S7i732 Compared with the previous
year these results show a decrease Of gross earn
ngs OF A4l5.i7S: decrease Of expenses S59S6l0 ana
decrease of net earnings of sSlG%7. The earnings
from freight traffic decreased AlT,3l3 As COM
pared with 1899 the tons of freight carried decreased
1917 per cent The earnings from passenger traffic
decreased $685. In the year there were CON
s,ructed thirty-sx iron bridges and via1ucts. L.
placing equal number of wooden ones. About
two and one-half miles Of wooden pile and treste
bridges filed In with EARTH and 3O6 wooden
culver;s replaced with iron ones
BY reason of the companys inability to obtain
reasonable rates for insurance. the Board of d.
rectors decided TO create an insurance department
to underwrte its fire risks. and the Executive
Committee was authorized TO organize the depart
ment. and to set apart from the balance at credit
of income account June 80. 1892 SHO.Vl as an In
surance fund-such fund with its accumuatons
to be invested in bonds of the company. or In any
other available securities In the companys treas
ury 1t was also provided that such fund with all
accumulat ions should be held and used only TO
guarantee and make good losses by fire. to the ex-
tent underwritten by the insurance department. on
property described in schedules and policies made
In the usual manner.
In speaking of the recent strike the report says
that only small number of the employees went
out and that those who d.d 20 had no grievance
against the company. II continues as follows:
The management OF your company accepts the
fact that labor organizations are not 10 DE pre-
vented, and, although their influence has not al
ways been good. 1t has not Disseminated against
those who are members. and has not hesitated 90
confer with their chosen representatives on mat
ters mutual interest. The brief career or the
American Railway Union, however. has demon
straied that there may be organization when are
administered with so little wisdom AMI 50 Htte
regard for public or private rights, ana are 50
reckless of consequences even to then own mein-
bprs as to be unworthy OF recognition. II - not
TO be expected that an organization which has IN
volVed its members in controversy IN when
they had interest. in the effort 10 cstapiisn
principle which could not possibly prevail, ana ha'
needlcssly cost them their places In Tines Wheh
men are more abundant than work Will take deep
root. or long survive it's own folly. Nor would II
be prudent for railway companies to give any
recognition or standing TO an organization whch
has reckessly involved them in the losses conse-
ouent upon an effort 10 enforce demand when
was inlmical alike to the interests OF the com
panes. the employees and the public