The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1894-01-09
OAHU RAILWAY AND LAND CO

OAHU RAILWAY AND LAND CO.
Special Report by General Manager
Dillingham;.
\ pamphlet has been received
from u. 7. Dillingham;, general
manager Of the Oahu Railway n
Land Co. containing a special re-
port to that corporation, together
with a statement of accounts for
three years to July |, 1898. The re-
port notes an amicable settlement of
differences between the Eva Planta-
tion and the Hallway company. The
plantation has paid SiaUO for a mile
of track, and agreed to au increase
Of its freight rate by i cents, making
it Sl.30 a ton. Also freight will be
loaded and unloaled by the planta-
tiOn company.
There has been q big reduction
mad" in the pay roll Of the company.
| Duriug lSJ2 tn" average monthly
pay roll was S.i1tHLl3. From June l
to November |. lS!EI. tho average
was S;2,."Lll. rli," salaries account
has been reduced thi. year by Si35 a
month. TIL" whu!" reduction ia
wages an,l salaries effected is at the
rate Of $l1G9;1I u Year.
Thu receipts and expenses "f the
railway department from January
to Nov. |. lS'c! were rs follows:
Quarter "ndiug March 81 re-.
ceipts, slN.iHii ~: rNpruS.S, - IN
~: net gain. SIl2ial.
Quarter ending Jun" ~ receipts,
S2l!E2.21; "\urn.r.. SlG.lUo2I: net
gain, Si,S,GIec:.
Quarter ending September ~ -re.
ceipts, S22,W2. 10; rNpcnsrs. SI2.BSO.
-; not gain. S.N;Si.12.
October receipts. ~ 9;c\ prns.s.
S'.!es5ii: not gain. S2ii5.Ii.
Total not gain fnr ten mnaths.
81, Eaim. Th" av"rac" monthly
net gain for 'hr Grst six months If
last year was $i37lG2, white there
was u monthly profit or s:M3i.21
shown from July | 4" November !.
"ln view "f ia, fart that thi. com.
pauy u paying a high rat" "f inter
est "n is bonds ~ compared with
railway companies IN other cuun-
tries, says Mr.. Dillingham;, "it j.
gratifying tu know that the earnings
oi th" present line during u time or
general business depression. and at
the mos, umfayurah!o season Of In.
year, is paying running "\ponscs
and pcrc"nt upon the eutirr cost
ol the railway d"par. mont say
S322,'E2. .2l--ur an amount uf net
earnings equal 10 - percent upon lis
entire cost, and 3p"rccut upon the
stock l%h.,haD representing the il
sue OF stock on thi, department Of
tho company's business.
Passenger trallic ha, decreased
from the earlier times Of this rail.
way. II averaged S2lhG.ii month
Tor three years ending July |, 1898,
or Si2,3G'.2% n year. The passen.
ger earning. for the quarter ending
December 81, 1891, amounted to
$40, ,lS3.G3, after which there was a
steady decline in the receipts follow.
ing the depression caused by tho
passage Of the Mckinley bill" Tho
decline reached bottom in Febru-
airy, 1888, the month following the
revolution, when the total passenger
receipts for the month amounted to
Sl5lS.i5, equal To about one-half the
receipts for the corresponding
month IN 1881 aud lS92. The quarter
ending March 81, 1893, the total
passenger receipts amounted TO
S535l.iO, trille, over half the
, amount OF tho receipts for the quar-
~ cnding December 81, 1891. Since
February there has been q gradual
improvement in the passenger re.
ceipts,'
The manager gives an exhibit of
the condition Of the rolling stock
and road bed, saying, "Notwithstand-
ing tho fact that the operating ex-
penses have been greatly reduced
this year, the rolling stock and road
bed OF YOUR compauy's line was
never IN Il better condition than il is
to-day" Altogether 2796 tons of
rock ballast was placed along the
line last wear,
The cost of each department had
been as follows: Railway, including
Sll,OSl.l interest during construc-
tion, S522,332.2l; Coal elevator to
July !, including interest of S297tj to
that date, Sli,72G; Ranch, SG3, ,SS3. .3G;
Land, including SOL 1920 interest,
32G,9Sh5i An investigation OF the
company's books, with the assistance
OF w. NJ. Graham, acting treasurer,
shows the railway department to be
in arrears, It's earnings being INSULT
cient to pay running expenses and
interest, falling short during period
OF three years apparently S35, ,ll0.El.
or this nearly Sl5,OOO should be
charged, the manager says, To capital
account, which would show the cor
rect amount Of deficit To have been
S2O, O,i55,1S. This tho report says is
more than accounted for by tho fall
ing of Of rcNcnuo from passenger
tralIic IN consequence Of tho busi-
ness depression uf lS92 and the
revolution uG lSl2,
Othrr matters uf interest ia the
report an" deferred for another 10.
sue