New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-04
ELECTRICITY APPROVED.

THE PROPERTIES TO BE MANAbtb
HARMoNIoUsIY-THE USE OF
ELECTRICITY APPROVED.
New-Have oct. 3.--The twenty-fourth an
nual statement Of the affairs of the New-fork,
New-Haven and Hartford Railroad Company
covering the year ended June 30. was issued
tonight The most interesting part OF the state
ment is the following par rigraph
THE New England Railroad Company at the
writing OF this statement. is in possession of
the property formerly known as the New-fork
and ew-England. Its lines reach many points
in Southern New w-England, which are also
served by the roads of this company. AT most
OF these points separate organizations are
maintained. 1t is apparent that. II the manage
ment OF the two properties is unified. the eN-
penses OF each can he diminished materially oy
the consolidation, upon equitable terms Oh
agencies. yards and freight-houses at these
points and the customers Of each company can
enjoy the benefits Of the facilities belonging 10
both. The properties will then yield the oes'
results to each corporation and to the puohc'
Your directors have, therefore, accepted an
offer for the delivery. prior to the annual meet
ing. of a ma jority of the capital stock OF 'he
New England Railroad Company and have also
purchased IS 600 900 OF It's new per cent mort
gage bonds But 1t is not proposed to make any
consolidation with or lease Of the New-Englahd
Railroad"
Another equally interesting announcement is
the statement that the road has secured con-
trolling interest in the Stamford Street Rail-
road Company. and IT proposes to develop that
property in close relationship to the New-York.
New Haven and Hartford Railroad. or the
electrical equipment OF the Nantasket Beach
road. the statement says:
The experiment has demonstrated that power
generated in a stationary plant and transmitted
by electrical agency can be successfully used in
the operation Of standard railroad. The cur
rent expenses for fuel indicate that this result
is economically obtained. Power thus trans
mitied is capable Of indefinite subdivision and
Is therefore most available for frequent car SER
vice. The commercial result depends only on
the durability Of electrical equipment The use
Of the existing power station Will be extenden
presently. and IT is probable that electricity VIII
be promptly adopted by the company AT otner
points on its lines With a road free from grade
crossings ii is not too much to expect Its ultimate
application wherever the business justiies fire.
quent train service and, II Is hoped without the
use OF an overhead trolley.
The gross income of the road from operation
for the year s27 90l 735 49, from other sources
1894 500 92. OF this amount earnings In the pas
senger dcpa rment sl5.29S. .055 81 freight de-
partment s12,3O9. .953 90; rents. s2s3,126 20. The
gross operating expenses were 6s.3S per cent OF
the income, or s19. OPT II. The income from
operation was IS s37 70S 02; total income from all
sources 49, 535 %. From this amount $5593-
545 20 was deducted for taxes, interest. rentals
and other purposes. leaving the balance or IN
come applicable for dividends S4s9SS "a. Dur
ing the year n dividend OF 10 per cent was PAID
on $37 9i2 000 SO. .794 200 leaving deficit for
the twelve months Of s3l5.Soi rs.
1t is stated that the road now holds the entire
stock of the Fan River Line and 1928 o, the
25 900 shares Of the Providence ard Stonington
Line