New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-07
so1o.lso

'Inciudins Georgia Railroad and other deduc
The report shows that in the fiscal year there
was $J4G,571 expended for equipment. improve
ments and additions to property whlch were
charged TO operating expenses. They were here
tofore charged to construction account IN the
year 1Ol miles OF track were relaid with new
steel rails at cost OF S212.394. which was
charged TO operating expenses. Old steel rails
used to replace old iron rails 10 the extent
OF twenty miles on branches The estimat-
ed interest charges for the fiscal year TO end
June 80, 1905. are S4010324. The payments on
account OF sinking funds in the last year were
SG.S6I9 In tho charges for operating expenses
is included $2.l3S.JS1 expended for building ard
maintaining equipment This amount Is inaHe
up of S2,24S.2i2 expended in the year and Sloo.-
80 of deferred renewals. which VIII be expended
in succeeding years The above charge shows
an increase Of S1i.;S3 in excess OF the charge
for the year ended June 20. 1soG.
The construction account was closed July l.
1894. since which date the items heretofore
charged TO this account have been charged 10
operating expenses. The improvements and bet
terments upon the Nashville ard Decatur Rail
road, to he settled for at the expiration of the
lease. and which have been charged TO construc-
ton account OF the Nashville and Decatur Ran
road in the year. amount to Sl1.9o2. in the last
year new lines have been purchased to the eX-
tent of 2G5 miles. The Mddesboromgh Railroad
purchased at q cost of S1O0,G,O. The Pa
ducah and Memphis division is IL consolidation
OF the Paducah. Tennessee and Alabama Ran
road and the Tennessee Midland Railroad * is
proposed TO issue this division SJOOooUO hrst
mortgage gold nfty-year per cent bonds. 80
100000 Of which are to be delivered TO the Louis
Vile and Nashville Railroad Company on the ex-
ecution OF the mortgage and S1.2OO.0OO to he held
by the trustee tn meet future betterments ana
improvements. The lire has been leased 10 the
Nashville, Chattanooga and St Louis RAILWAY
at az annual rental of > per cent upon It's cost
and per cent additional on the cost or all I'M
provements and betterments. improvements
have heen made In East ST. Louis at cost OF
SlI0OGS all Of which has been charged 10 the
cost OF the ~. Louis division. go
The outstanding bonded debt or LoElsNle
and Nashville. less bonds 81 the various ISSUES
held in the compinys treasury. Increased IN
the year $G0Sn000 The increase Is accounted
for by taking upon tho books. as liablhty
Of the company. 81 900 600 Louisville and Nash-
Vile smiling fund per cent bonds. SiJuuu"
Louisville and Nashville and Mobile and Mont
gomery AZ per cent gold bonds ana S"ntoV
Pensacola and Selma Division bonds Th.se
bonds have been always mentioned in the COM
panys report, and the interest on them IN
cluded in the total interest charges. Their IN
clusion In the balance sheet OF the company is
in line with the policy recently pursued or put
ting the accounts OF the company upon an ire
proachabie basis and presenting them clearly
TO security holders and investors. The directors
have revalucd tn" assets Of the company. ana
have charged all losses. accounts and advances
considered uncollectaDlc. to the amount or ~
IOS. 10 profit and loss"
The amount Of interest and rentals In tho last
fiscal year was S4aS, 193 and OF taxes $3.50
5lf. against 81 .0S3 096 interest and rentals and
SJ19gi1 taxes in the preceding year
The comparative balance sheet as Of June 30
shows