The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-05-13
A SPLENDID EXHIBIT
STRIKING POINTS IN THE ANNUAL
REPORT Of THE LAKE SHORE.
President Ingalls's st. Louis Address
FavorabIy Recetved-New Local
Freight Rates I'm Force.

FavorabIy Recetyed-New Local
Freight Rates I'm Force.
The annual report of the Lake Shore &
Michigan Southern railway for the year 1895
has been made public. The operations of this
great railroad are doubtless unequaled by
any other railroad during the same period.
The gross earnings for the year were ST.
1s.Os505, being an increase Of 81. Ass. 165- The
freight earnings were $l4,157,42 being 65.67
per cent. of the gross earnings and an in
crease Of s., 3l3 150 over 1884, The total tons
handled for the year were 1889. 641, being
an increase over 1894 Of q .3S5 tons, and.
an increase over 1892 (which was the year
of the largest tonnage OF the railroad prior
to 1850 Of 73S, 894 tons, and while the ton
mileage was the largest in the history Of
the company. being 1913 per cent. greater
than 1884, the freight train mileage decreased
5.42 per cent, or 1850 miles. The operating
expenses for 1895 include the cost of new
equipment purchased, amounting in total TO
81. GLE, s54, and also the cost OF 7.O9 miles of
new sidings, amounting TO sec, S56 Notwith-
standing these charges, the road earned It's
fixed charges and a surplus over per cent.
on its stock The Lake Shore is doubtless
one of Americas best railroads. Its capital
stock OF 100000 900 and bonded debt OF So
000.0D have not been Increased for twenty
years. the stock paying annually per cent.
dividend to the stockholders. and Is worth
$50 in the market. All its surplus earnings
go into the betterment OF the property tas
il carries no betterment account all improve
ments are charged to operations), and Is one
of the few railroads that can positively state
it has no water" in it's capitalization.
President IngaIls's Address.
n. 81
dent of the Big Four, utter before the st.
Louis Railway Club at its annual gather
ing last week that it is being commented on
largely by the press. He spoke of business a
quarter of a century ago and then Of the
condition in 1896. The business during that
year was probably as badly demoralized as
it could well be. but good came out of it.
for the Joint Traffic Association was formed
This was an organization to maintain tariff
rates and during the four months 1T has been
in operation Mr.. ingalls, says it has given
entire satisfaction. Continuing, he said
This business is so large that 1t cannot be
conducted as ordinary mercantile affairs are
The merchant who sells boots or SHOES or
clothes knows something about the price or
cost. and he does not sell below cost very
long But in the railway business we en-
ploy thousands and thousands or soliciting
agents, many OF whom have no idea OF cost
and who think their business Is TO secure
quantity rather than revenue. They nave
not nor has the public, been educated up to
the fact that giving away or transport atlo ton
is giving away of money. The same Is true
OF reduced freight rates; when railway man
ayers and shippers learn that two-thirds or
the business at full tarrT pays more than lOO
per cent. at half rates we will have rates
maintained better. There has been a great
education in this respect, ana among rail-
way owners and managers there Is a large
advancement. Fifteen or twenty years ago
a man who had the reputation OF being a
smart fellow to get business by surreptrtious
means was In demand. To-day he hunts a
long time before he gets a position. and,
when he gets one, instead OF attempting TO
make his reputation by having it known that
he Is cutting rates TO secure business, he
endeavors to build up reputation for con-
servatism. This all shows gradual educa-
ton OF the community. which in the end VIII
produce beneficial results.
Personal. Local and General Notes.
The Peoria & Eastern has this week re-
placed two OF its trains with passenger cars
just out OF the paint shops.
r. B. F.. Peirce, receiver Of the Toledo, st.
Louis & Kansas City, left for Toledo last
night. to be absent for the week.
J. S. May. superintendent of the Logans-
port division of the Panhandle lines. was in
the city yesterday on official business.
The vandalia is distributing new steel. new
ties and a good deal Of gravel ballast and
rapidly getting its track INTO the best condi-
ton.
The Continental fast freight line, as well
as the Central States Despatch. will now try
TO secure business from this city and vi
entity.
C. G.. Crosley. storekeeper of the Union
Railway Company and Belt road, was mar
ried last night TO Miss Georgia Whittier, OF
this city.
The Toledo, ST. Louis Kansas City
earned in the first week of May SIG, S29.7S. an
increase over the corresponding week of 1880
of $2,5S5.79
George d. Kiken. formerly yardmaster of
the Big -Four at Louisville. has accepted the
yarfmdSter h
ern railway at Louisville.
The Cincinnati, Hamilton Dayton will
open the excursion season to Cincinnati on
Sunday, the agreed fare with the Big Four
being $3.50 for the round trip.
The Erie people have this week put into
erect the tonnage system or making up
OF trains by the number OF cars hauled.
The Brotherhood of Locomotive Engineers
are holding their biennial convention this
week. in Ottawa, Ont. 1t Is expected that
four hundred delegates will be In attendance
The last offer of the Pennsylvania is to
give prize, an annual pass, to the farmer
who will do the. most in a given time TO
beautify his grounds adjacent TO the track
in lumber rates between Toledo and Buff
falo from 10 TO cents per hundred TO
meet the rate OF the Michigan Central be-
tween those points.
the Atla-:ic q Pacific has proposed to Pres
ident tr.sSdburn, of the California Eastern
formerly the Nevada * Southern, TO extend
the road 10 Salt Lake City.
1t costs <4s,7s1 per month to operate the
fast freight lines controlled by the Joint
Traffic Association. There are thirty three
of these lines. employing 5S7 agents, and, in
GLIDING clerks. 2646 persons.
The tonnage OF the Monon out OF Indian
apols In April this year shows an increase
over April last year OF 80 per cent. Having
its own terminals has made a decided change
in its business for the better.
Vice President Bradbury. OF the Lake Erie
e Western, and General Manager Barnard
terday attending a meeting OF the Peoria &
Pekin Union Railway Company.
The Chicago & Rock Island is trying the
passenger trains, and the conductors are in
dignant- The plan proved failure on the
Big Four. and probably will on the Rock
Island.
William Garstang, superintendent OF mo-
tive power OF the Big -Four, aud family left
yesterday for Adhesion, w. Va, where they
viii spend several days in fishing and other
pleasures. julius Walk and family are OF
the party.
The prospects are good that Sunday will
bring time schedules which mean twenty
eight passenger trains day between Indian
acolis and Cincinnati-fourteen over the Gin
cinnati. Hamilton & Dayton and the same
over the Big Four.
Notice was given by the Chicago Great
Western yesterday that 1t would meet the
competition o. the Minneapolis & ST. Louis
by running excursions from Des Molnes TO
st. Paul and Minneapolis, May IA and 10.
at rate of $3.50 for the round trip.