The Forrest City times. [volume] (Forrest City, Ark.) 1871-1919, 1897-10-15

The number of bales of cotton ham
died t440,073 was the largest in the his
tory of the road Among other things,
Col. Fordyce says:
The results from operation for the fiscal year
ended June 30, 1897. reflect in no small degree
the general financial and industrial depression
which has prevailed throughout this country
Tor the past several years; these unfavorable
conditions being intensified during the year for
which this report is rendered by the business
uncertainties usually incident to presidential
election years Aside from this there existed
certain special and local conditions which SER
iously anected the revenues of your company
and other lines extending through contiguous
territory, among which may be mentioned the
inactivity OF the lumber market lumber as
rule forming about 80 per cent. OF the total
tonnage transported by your company and
the disastrous floods caused by the overflow OF
the Mississippi river in the spring OF 1897
The unfavorable conditions which existed
during the current fiscal year are shown more
foreibly in the large decrease in passenger
revenue throughout the country than in any
other branch of railroad trafic. The shrinkaee
in the incomes OF the people prohibited them
from travelling with the same freedom as be-
fore. Comparatively, but little travelling was
done for pleasure, and business trips were cur
tailed as much as possible
While the passenger revenue for the fiscal
preceding fiscal year shows decrease of $3.50 =
l2s55, or 1875 per cent, the freight revenue
shows decrease OF only ST., 1891 or Al OF 1
per cent. and the number of tons of freight
carried shows an increase OF 81, 63f tons, or 253
per cent Although freight rates were reason
ably we'll maintained during the past fiscal
year, the average revenue per ton per mile de-
creased 80 COOS or 424 per cent Had YOUR COM
pany obtained the same average revenue per
ton per mile for the freight carried during the
fiscal year ended June 80 1897 that 1t received
during the fiscal year ended June 30 1896. the
total revenue derived from freight traffic would
have been s172 090 90 more than it actually re-
ceived
Notwithstanding the increase Of . SO per cent
In total tonnage, and of 2.16 per cent in train
mileage, which would naturally have a
tendency TO increase the operating expenses
there is decrease of 6.69 per cent in operat-
ing expenses, including betterments and
extraordinary expenses, and a decrease
OF $50 per cent in operating expenses
exclusive Of betterments and extraordinary
expenses. This decrease In operating
expenses has not been accomplished by re-
duction OF the expenditure for work on the
roadbed and track, as practically the same
amount OF money has been expended in main
tanning and improving the track during the
fiscal year ended June 80, 1897, as during the
preceding fiscal year.
The Magnolia, Ark. branch OF g. miles has
been leased to the Louisiana and Northwestern
railroad at rental OF s3 $50 per year PAYABLE
semi annually on the first DAYS of April ana
October. This lease is effective as soon as the
Louisiana and Northwestern railroad shall
have completed its tracks and begun the oper-
alton OF the same from the town Of Magnolia
TO point on the state line between Louisiana
and Arkansas and is to continue for period
OF 20 years from that date. The reason for
making this lease was to get rid OF the opera
tion OF this small branch, which has been a
burden upon the property. as st costs more TO
operate and maintain than the revenue de-
rived from it. In addition to this a tra NO
agreement has been made with the Louisiana
and Northwestern railroad that will omen nm
to the company about so miles of new and un-
developed territory, rich in timber and cotton
products, which will add both to the TONNAGE
and revenue OF your property.
The good prices now being obtained for
wheat and corn, together with the duty OF -
per thousand which has been placed on Cana
dian lumber, is having a marked effect for ~
better on the traffic OF your line Sfnce the
hscal year for which this report is made lum-
Der shipments have increased very materiaIlv
one month ago the prospects were for largely
increased production of cotton in Texas Ar
kansas and Louisiana, but the extremely hot
ana dry weather will diminish this output
from III 10 ~ per cent, as compared with what
was promised four weeks ago. Notwithstand-
ing this, 1t Is believed that more cotton will be
produced in the territory tributary To vour
lines during the season OF 1879 than during
the preceding season
The general business OF the country esnec-
ially IN the southwest. is fast improving 1t is
therefore confidently believed that the fiscal
year ending June 80 1898 will show good in
crease both In the gross and net earnings Of
your property.
AS shown In detail In this report the nhv-
sleal condition OF your property has steadily
improved and this improvement will be con-
tihued as last as the earnings will Justify.