Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1897-10-08
A Most Encouraging Surplus
Reported at the Recent
Annual Meeting.
THE NET REVENUE WAS $b,oo2,se5.
Reports for the Month just
Ended Indicate a Still Bot
u ter Year Ahead.

From the Minneapolis Journal, Oct. 8.
It was splendid Showing that
the Northern Pacific made yester.
day at the annual meeting Of the
stockholders in New York city.
The report was the first since the
reorganization, ten months ago.
For this period the income account
stood as follows up to June 80 of
this year:
Gross receipts, 11,941,818;
operating expenses, SO, 1916, 1878;
net receipts, $2,765, 945; taxes
$42S, 881; net income from opera
ting, 1886, 1854; other income,
$685., 341; net revenue, s., OO2, 1865;
interest on bonds, IS, liz, 248; bal.
ance, $500, 057; written of, S12, 229;
surplus, $4s9, 1913.
Directors for the ensuing year
were elected as follows: Edward
D. Adams, Dnmont Clarke, Charles
H. Coster, Robert M. Galloway,
Brayton Ives, D. Willis James,
Daniel s. Lamont. John G. Moore,
Charles Mellen, Walter G. Oak
man, Oliver II. Payne, Samuel
Spencer. James Stillman, Francis
Lindesman and Edwin Thompson.
The new directors are Messrs.
Lamont, Mellen, Moore and Pavne.
They take the places OF Messrs.
Robert Bacon, Charlemagne Tow.
or and E. w. Winter, retired.
AnAdditional director has also been
inclAded in the board. 3s @
The report declared the. organ.
=xation is ctically complete with
the exception of the matter of
lands ,east Of the Missouri river,
which are still held by the receiv-
ers. The length Of the main line
operated is 4 1916 miles. The land
owned by. the Northern Pacific
amounts to nearly 100000 acres
of which almost all is west Of the
Missouri river. Land sales in ten
months amounted to $416, O24, and
outstanding land contracts on
June 80 were $780, s4. The re.
port states the company's position
with regard to current assets and
I liabilities as follows: Current as
sets, 1 .s7,437, OIL; cgrrent liabili-
Ties, $$4;,4S3, 9S5; net current as.
sets, $685. 26.
n Under the plan Of reorganiza-
ton q fund of $4,000, 900 war pro-
vided for betterments. This fund
was composed Of $3,674,913 in
cash and the balance in general
lien bonds at the price of60. There
has so far been spent 81, 051 153,.
/ s333sof. the cash and the balance. is
held Ia a special account. Fixed
charges Of. the company for the
current fiscal year are IS; LILO, 276.
"A still further reduction will,
however, be made by the retire
ment Of Missouri division bonds
and the conversion of the old first
mortgage bonds. i The physical
condition of the property is re.
ported as good. The train load
during the period, covered by the
annual report is 23O.83 tons, as
against 1913 tons in the preceding
wear. OF the total operating ex.
penses Of the company, IA per
cent was for maintenance Of
equipment and 29.6 per cent for
maintenance Of roadway, the latter
being at the, rate Of $74t per mile
of road per annnm.
Daniel 5. Lam0nH sitter the
meeting Of yesterday, was elected
president Of the Northern Pacific
express company, which g adjunct
Sof the Northern Pacific railroad
sof (which he is director and vice.
president. .
The business Of the Northern
Pacific for the month 81 Septem.
ber Just passed Is expected to show
| q 5000, 600 increase over the c0r-
responding period Of . year ago.
General Manager Kendrick de.
.clared yesterday that this improve.
! ment was to be attributed to I'M.
prooYrement along oil lines Of bust.
\ ness Less wheat had been moved
But more merch andise. The per.
cent de Of increase il the latter
classes of feishts his been very
3arge .