The San Francisco call., 1896-04-16
1t Is Shown in the Statement of
the Operations of the
Pacific System.
PERTINENT FIGURES COMPARED
Those of Last Year Show a Difference
in Net Results Of More Than
-Four Million Dollars.

Comparison of the official figures of the
operations of the Pacific system of the
Southern Pacific Company for the years
ending June 30, 1894, and June 80, 1895,
respectively, shows a difference in net re-
suits of more than $4,000, 600 in favor of
the earlier period. For 1893-94 there was
net surplus of So, S04 AS Sc, while for
1S94-95 there was a net deficit of $276, ,262 TO-
In view of the desperate efforts of c. P.
Huntington 10 secure the passage by Con-
gress of a bill re-fundinG the debt of the
Central Pacific Railroad Company to the
United States Government and the deter
mined battle of the Southern Pacific Com
pany in the United States Circuit Court to
prevent the California State Railroad
Com mission from reducing rates in this
State on the various lines of the company,
more than usual interest attaches 10 the
financial statement of that corporation for
the year ending June 80, 1895, which
should have been presented to the stock
holders at the annual meeting last week.
Only a brief condensed report could be
made. as ali the data and figures had not
yet come 10 hand from the Atlantic
system of the Southern Pacific Company
nor from the Texas roads, which within
the past year have been incorporated as a
part of the Southern Pacific Company.
Controller Mahl is now devoting all his
time and that of his assistants to get
ting the full report in shape at the earliest
time, but even without any unexpected
delays it will not be out of the printers
hands and ready to be given to the public
short OF three weeks. Mr.. Mahl expects
to conclude his la bors in about two weeks,
vvbon ba will loo T-a for Nau- Norly oil
Mr.. Wright. the newly elected secretary OF
the corporation. to look after the minor
details of the report.
Among the most interesting matter
usually embraced in the report is the ad-
dress of the president TO the stockholders,
reviewing the past years operations and
outlining more or less definitely the work
ahead and the future prospects of the cor
poration. This has not yet been begun, as G.
P. Huntington must necessarily have the
full report before him before he can intel
hgently discuss the affairs of the company
over whose destinies he presides.
From the advance sheets of the report
the following important figures covering
the operations of the Pacific system of the
Southern Pacific Company, that in which
the people of California are most inter
ending June 80, 1895:
Total income S31 496 OSO a.
Total expenditures 31,l17,516 SO
Net income. s37s,564 II
Expenses ofiand department....:.. 4S.iSs So
Net fcit........................ $276,262 70
From this it will be seen that while
there has been an actual net income of
$37S.564 IL the report shows deficit of
more than a quarter of a million. But
this deficit is not loss. In order to create
1t 5000 700 % were expended in better
ments, which are an asset and in reality
profit and not an expense, as generally
understood among bookkeepers, and con-
sequently the deficit" really represents
Improvements to the road.
For the year previous the Pacific system
of The Southern Pacific Company made the
following showing:
Iotai income: 209 365 03
Iotal expenditures 33,l63 75o 4S
Net income e...................... $4.045,6O5 65
BettermeAts.. OBSERVATION-DISCLOSURES. 24l,l60 10
Net surplus. Observation-Disclosures. $500, ,445 96
comparison of the figures for these
two periods shows a remarkable difference
between the results of the operations of
the company during 1s93-94, year when
there were neither Federal nor State au-
thorities seeking TO bring the company to
book, and the year 1894-95, when the Cen
trail Pacific Railroad is seeking to evade
the payment of its honest debts to the
United States and the Southern Pacific is
battling with the State Board of Railroad
Commissioners to prevent a reduction of
rates to what is considered a reasonable
figure by the constituted authorities.
During the period first named there was
a net surplus of $3SO4, 445 SO, and during
the latter there was deficit of $276, 1862 70
or difference of 81, ,0S0, 70S O6.
There were mum Der of elections yester-
day of some of the minor inner corpora
tions of the Southern Pacific Company.
which resulted in the choice of the follow
ing officers and directors:
Southern Pacific Railroad Company of
California Charles F. Crocker, president;
II. E. Huntington, vice-president; l. E.
Gates, second Yice-presldent; n. t. Smith,
treasurer; J. f. Willcutt, secretary; c. G.
Lathrop, f. S. Douty.
Coos Bay (Or.) Coal Company-N. T.
Smith, president; G. E. Green, vice.p presi-
dent; George T. Klink secretary and treas
N' 4|OHSy3 W - AiA'
j. Mcdonald.
Geary-street, Park and Ocean Railroad
Company-Charles +. Crocker, president;
Adam Grant, yice-president; y. T. Smith,
treasurer; J. i. Willcutt, secretary; H. E.
Huntington, r. f. Morrow, f. S. Douty.
California Pacific Railroad Company
T. II. Hubbard, president; N. T. Smith.
vice-president; ]. l.. Willcutt, treasurer;
George T. Klink, secretary; w. H. Crocker.
c. P. Huntington. H. E. Huntington, C.
G. Lathrop.
Northern Railway Company-C. F.
Croker. president; C. G. Lathrop, vice.
president; n. 7. Smith, treasurer; George
It. Klink, secretary; w. H. Crocker H. E.
Huntington.
South Pacific Coast Railway Company
T. II. Hubbard, president; c. F. Croeker,
vice-president; N. 7. Smith, treasurer;
George st. Klink, secretary; f. S. Douty.
C. P. Huntington, H. Il. Huntington, c.
G. Lathrop.
In each corporation the former directors