The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-07

The sales since Jan. I, 1895, amount to
27,95i, $50 lbs. against 23,l2f, 100 lbs. year
ago.
The sales in New York have amounted
to Lac, 800 lbs.
The sales in Philadelphia have amounted
to 1,3is, 300 lbs.
Providence Clearing House.
The clearings OF the Providence banks
today amounted TO s6i0,600.
New York a. New England Improve
ments.
The annual report OF the New York a.
New England Railroad for the year end
ing December 81, 1894, has just been is
sued by the vice president and directors,
and Is one OF the most important in the
history OF the company, in view OF the
present reorganization proceedings.
1t Is especially interesting from the fact
that during the year q system OF manage
ment entirely new to that property was
introduced, and the result has already
vindicated the judgment OF those who,
a few months ago, hopefully undertook
the task of placing the road upon pay
ing basis.
The financial statement OF operations
shows that, although there was total
decrease in gross earnings of s543, $50, due
to the general Generalization OF busi-
ness, there was an actual increase in net
earnings of 1884.
This would be very satisfactory show
ing for road In the hands OF receivers
even il only the ordinary repairs and Inn
provements had been made, but when IL
Is understood that the sum OF 1905, GOA was
expended for improvements and extra
ordinary repairs and charged to the
regular expense account, the result Is
seen to be really remarkable one.
This encouraging condition OF things
was brought about mainly by more
economical and scientific system OF run
ming freight trains, by which the average
number Of cars per train hauled has been
increased by nearly 25 per cent, with q
corresponding saving in expenses.
This brought about comparative saw
ing OF 51l, ,199 train miles, representing
a money saving of over 300, 1000, or enough
to pay for the years extraordinary i'm
provements.
Through his innovation the percentage
of operating expenses to gross earnings
was reduced from 7406 in 1898 to 71.4o in
also introduced, from which large saw
ing was effected without detriment to the
ROAD. The total gross earnings were
80, ,475,6 ,62S, a decrease OF s543, $50, and the
net earnings were 1868, ,2l9, an in
crease Of 1881. Total fixed charges de-
creased s16,02s to sl,s77,957.
The present time finds the New York 81
New England road in better condition,
physically and financially, than it has
been in in many years, with new roadbed,
heavier rails, additional sidings, new roll
ing stock and freight sheds, the block
signal installed over nearly its entire
main line, and new and up-to-date meth
DDS in operation in all departments.
The financial reorganization OF the
company, with its contemplated reduc-
tion of fixed charges and business ad-
ministration, is also progressing favora-
bly,, SO that, altogether, the vice president
would appear to have ample justification
for this closing expression in his report {:
sin view of the possibilities of opera
tion which have been demonstrated under
the receivership, it would seem that your
property possesses such inherent strength
despite any adverse conditions likely to
arse, as TO warrant the expectation of fu-
ture results which can in no wise be
measured by Its past history. when once
it shall be placed, through the proposed
reorganization, on a sound financial and
physical basis"