The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-04-13

If, when I gave out this interview, I
had known as much as l have since
learned about the frauds and imposi-
tions put upon the State by this South
ern Railroad Company, that interview
would have been less mild and more
elaborate and vigorous.
6. Upon an examination Of the re-
ports of this and DRnville
(now the Southern) Railroad. / fad
that for the year ending July, eighteen
hundred and ninety-four, they admit
that the North Carolina Railroad re.
ceived as gross earnings 81, 900 per
mile, and for the year ending July,
eighteen hundred and ninety five, S.,
$50 per mile, and for the year ending
July, Gig hteen hundred and ninety-six.
they admit, Sc, 400 a mile; and they
claim the operating expenses Of this
road for the year ending July, eighteen
hundred and ninety four, were seventy
three per cent. of the gross earnings,
and for the year ending July, eighteen
hundred and ninety five, that it was
seventy per cent. of the gross earnings,
and for the year ending July, eighteen
hundred and ninetY-six, that it was
seventy. four per cent. of the gross
earnings; so that in eighteen hundred
and ninety four, with 81 900 as gross
earnings per mile, they claim that
their net earnings were only 81, 800 per
mile, and in eighteen hundred and
ninety five, with S., 500 as gross earn
ings per mile they claim only 81, $50
per mile net earnings; and in eighteen
hundred and ninety six, with Sc 400
per mile gross earnings they claim to
have gotten as net earnings only 81. 664
per mile. 1t is evident from these
statements that, no matter how big
may be the earnings Of the North Caro-
lima Railroad, it's managers, the South
ern, have been keeping down it's net
earnings o. profits to suit their pur
poses in ~Concealing the true value of
this property and deceiving the people
of the State, who are it's owners. Dur.
ing the very years, while they have
been pretending that it costs them
more than seventy per cent. of it's gross
earnings to run the North Carolina
Railroad, with gross incomes Of five
and six thousand dollars a mile, they
claim as to other railroad lines in this
State, not leased, but owned by them,
that these with a gross income of only
81 800 per mile r at q cost Of only
fifty eight per cent. of the gross, leav-
ing forty: two per cent. of said gross, as
Let earnings Oh profits. 1t is notorious,
as / aminfOrmed and believe, that these
owned lines of the Southern Railroad
Company in this State have been infe-
rior to the North Carolina Railroad, as
to their road beds, structures and gen.
eral physical condition; and yet they
claim that out of their inferior, and
some of them worthless railroads, earn
ing according to their own showing,
only 81, 800 per mile, they get a net
earning or profit of about 81, 200 mile,
while out Of the North Carolina Rail
road, which l assert is one Of the best
railroad properties in America, and
earning according to their statement
IS. 400 a mile gross, they get as a net
profit only about 81. 900 a mile. Ac
cording to these statements they are
asking the people to believe that in
creased business does not increase
profts-a story which is not believed
by the merchants, manufacturers and
producers, who support these railroads,
nor by intelligent persons of any class
who are at all acquainted with railroad
methods Of operations.
z. On examination I find that for the
three years above mentioned, the Viii
mington and Weldon Railroad Com
pany aId its branches, with a line of
about four hundred miles subjected to
about double the mileage expenses of
cross ties, and maintenance of road
way, reports as follows:
Gross Net Per ct. of gross
Per NJ. Per NJ. for operating.
July, '598. a3157 $1.257 $57
For 3np yes 9so5t nd'ns a1s8 1895 q
For year ending
July. 1896, 3,48l 1,433 So
Ii is thus cen that the Wilmington
and Weldon Railroad with gross earn
ings about one-halt as much as the
North Carolina Railroad, makes a net
or profit that is nearly equal to that OF
the North Carolina Railroad Company.
8. I find that the Raleigh and Gastcn
Railroad Company claim in it's report,
that with a gross income of from four
to six thousand dollars a mile, it's
operating expenses amount to some