The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-12-25
YEARS.

In another affidavit Mr.. Smurr says the
freight tonnage for 1895 will be substan-
TALLY the same as that of 1894, and denies
that the crops of this year will be far in
excess of those Of last, as Commissioners
La Rue and Stanton would have the court
believe. In still another he points out that
if the rates are such as unfairly discrimi-
nate, they will not be remedied by an per
cent or any other horizontal reduction.
Mr.. Curtis attacks the figures of Messrs.
La Rue and Stanton. The Commissioners
had stated that the railroad expenses were
increased by the strike of July, 1894. Mr..
Curtis says this is not so, but that the
strike really reduced the operating ex-
penses, owing to the desertion of the rail-
road employees.
The total expense of operating the Pa
citic system during the month of July,
| 1894, states Mr.. Curtis, was 1857, 255 96 less
| than for the same month in 1898 and $685.
902 90 less than for July this year.
During the last six months of 1894, &C
cordlng to Mr.. Curtis, there were S54, &c.,
847 hauled "for one mile" whatever that
may mean, being re per cent more than
for the same period in 1893 and 16 per
| cent more than for the same six months
in 1892. He also stated that there was
| large increase of tonnage of freight for the
last six months OF 1894, but that
the compensation was much less,
owing to a voluntary reduction by the
railroad system of its rates-actually
less than for the same periods of 1893 and
1892. The comparison he made as show
ing the compensation for carrying loads
$40, Ala, 365 70 for 1894, s11, 299, Alb O6 for
| 1893, and Sill, 931, 252 so for 1892. Thus the
| earnings for 1894, he demonstrated, were
per cent less than those of the year before
and II per cent less than those of 1892.
| AS to Mr.. Towne's statement of the
net income of the road for the fiscal year
ending June 80, 1884, and Messrs.
La Rue and Stantons mathematical de-
auctions, Mr.. Curtis pointed out that
| dividends on Southern Pacific stock
should be included, amounting to
| 81, 036 ,341 So and also dividends of the
Southern Pacific Railroad of New Mexico,
amounting to $344,440, being a total of
| So, $50, ISL so. He explained further that in
this net income 81, 900 ,240 paid by Wells,
Fargo & Co. on twenty years contract
| was included, whereas the actual earnings
| for the year from this resource were only
one-twentieth, viz: $64,512. Hence, &C
cording to Mr.. Curtis, the actual net in
come was only $197,935 Sc. Mr.. Curtis
denied that the Southern Pacific was
trying to crush out competition.
Acting Secretary Klink made point in
| one of his atfidavits that the amount,
| So, 449, 245 Al, given in the railroads report
to the commission and quoted by Mr..
= sy,k4 tod 10
sent the earnings of the company for traf
fic alone, because it includes receipts from
all other sources, as, for instance, moneys
received for sale of lands and payment of
interest on bonded indebtedness
He mentioned as an item 81, O36, 444, divl-
dend paid on common stock, that is not
paid out of the net earnings for the fiscal
year ending June 80. 1894, but as in fact
having been paid out of the earnings for
several years.
1t was not true, swore Mr.. Klink, that
the item of s., 504 965 35 given in the report
as 'other payments from net income"
and made much of by the other side, was
| not part of the legitimate expenses of
the road. He also affirmed that Mr.. Stan
ton was in error when he stated that the
Central Pacifcs net income of 81, 81, 720 SO
was its real surplus.
A joint affidavit by First Vice President
Charles f. Croker and Assistant President
H. E. Huntington was a plain and brief
declaration that the Southern Pacific does
not employ and never has employed a
force of political agents and lobbyists at an
illegitimate expense to its exchequer.
Traffic Manager ]. G. Stubs denied the
Commissioners charges that the policy of
the Southern Pacific had been inimical to
the interests of the State by the levylng of
practically prohibitoiy freight tolls. and
stated that the policy of the company was
really to encourage traffic; that the rates
were as low as they could be made and
arranged on fair and equitable basis.
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