The daily morning journal and courier., 1897-10-08
N T o V s NUFH- ------ ---
 ings ..... .s52 190 $5,944,079 $706,SSS 0 perat ng
 expenses .. 3907,ST3 4.29796S 095 Net earnings 23931T 16461 Ill 406 793


 The report says the percentage of op- erating expenses to earnings represents expenses upon the property and equip ment which will not continue indefinite ly. Many important improvements of the property have been made during the year. New steel put in track amounted to 3,400 tons 79-pound, re- placing 60-pound in use since 1880. About 300,000 cross ties were laid and B miles of track reballasted. Of 199 To- comotives, 145 were put through the shops. Much money was expended on car equipment, all charged to operat- ing. Freight cars out of repair and idle for five years have been repaired and put in commission. These had been going to decay and mileage was paid on foreign cars.
 The equipment received from the New York and New England Railroad com pany was in such condition that it was doubtful whether much of it should be repaired or destroyed. MT. J. F. Crock cit, late of the Boston and Lowell rail- road, an inspector of long practical ex- rerience, was employed for several months in an expert examination of the entire rolling stock, and in conformity with his report, confirmed by the me chanical department of the company, sixteen locomotives being found fit only for scrap were sold, and the remains of 76S freight cars burned.
 As reported by the inspector, there are at present in the equipment many cars of such age and light construction that they will neither justify the eX- pense of air-brake and automatic coup Ter, nor be safe to handle in modern heavy train if so equipped.
 Other interesting statements in the report are that over 50 per cent. of the loss of income from operation has been experienced in purely local freight and passenger business, which is clearly due to the general business depression. It is only necessary to understand that one tor of average local freight yields 236 cents per mile, about three times the revenue received from through bus mess, which last year paid out .Sl or cent per ton mile, to appreciate that the decrease in net earnings has been very largely, if not entirely, due to the loss of local business.
 Tie passenger busiresS between Hart ford and New Britain over this road has for some time averaged 15O pas sengers per day. It was likely to be entirely lost to the company by the construction of a parallel electric trol- ley line between the two points. Ar engagements were therefore made for supply of electricity. from station erected by the New Haven road at Der lin, a third rail was installed by this company on it's east-bound track be- tween New Britain and Hartford, and since May A, 1897, half-hourly service has been offered the public at uniform rate of ten cents. During the sixteen weeks following May 24, and ending September 12,2 the travel on the elec- tric road amounted to over 3OO0O0, in- stead of about 75,000, as would nor mally have been carried by steam.
 If the operation of the third rail proves as satisfactory during the win ter as since it's installation, an exten- sion of the service to Forestville or Bristol would seem to be clearly desira- bie
 Passenger revenue has decreased S202, ,62642, equal to 10 S-l0 per cent, while the passenger train mileage has been reduced only 150, 959 miles, or z 7-10 per cent.
 Freight revenue has decreased s411:- 041.44, or 12 9-10 per cent, while freight train mileage has decreased from 1,79S,- 40 miles to 1,410,935 miles, a reduction of 327, ,535 miles, or IS per cent.