The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-09
T. H. & |. ANNUAL REPORT
THE vANDALIA MAKES AN UNFA-
vORABLE EXHIBIT tOR LAST YEAR.
President McCrea shows Heavy Loss
es I'm Operating the Leased Lines
Other Items of Interest.

James McCrea, president of the Terre
Haute & Indianapolis Railroad Company.
which leases the st. Louis. Vandalia &
Terre Haute. the Terre Haute & Logans-
port, the Indiana & Lake Michigan, and
the Terre Haute & Peoria, yesterday Is
sued his annual report for the fiscal year
ending Oct 81. 1886. This reports shows
that the Terre Haute & indianapolis. the
parent line, earned in the twelve months
81, 213572, a decrease as compared with the
earnings Of the preceding year of So, $685.
the operating expenses were 81, 016 ISL so. an
increase Of $56.9SS.9S; the net earnings were
sl96. 69Os3. a decrease Of $79.32246.
The st. Louis. Terre Haute e. Vandalia
lines earned $1,6l3,6 39.29. a decrease Of sl22,-
BILE; net earnings. s1s6. s11. So. decrease OF
$s6,070.90; loss from operating the road TO
the Terre Haute & Indianapolis Company,
1927, 279s6.
The Terre Haute & Logansport earned
$685.. 1924 decrease of ss4.9S0.75; the net
earnings were $S1, 52641, a decrease of $40,
$780,
The Indiana e. Lake Michigan earned s67.-
5000, an increase over the previous year
of s.. S70.97; loss to the Terre Haute &c In
dianapolis Company through operating 1t,
s25, 051.2e.
The Terre Haute & Peoria earned s403,
$3.50, decrease as compared with the
previous year of 81. 1880; the net earnings
were slS.G62.99, a decrease Of s4S,SS0.39; loss
to the Terre Haute &c indianapolis road
through operating it. s102, 4O4.s3.
The cost of operating the T. III. & 1.
road was 1878 per cent. of the gross earn
ings; on the st. Louis, Vandalia & Terre
Haute division the cost was SS.42 per cent.
h. mort Al TiCfO
S63l per cent: on the Terre Haute & Peoria
division, SO per cent.
President McCrea, in his remarks, says
the financial trouble of the road dates back
to 1857, when the Ives deal came so near
wrecking the property. His statement
shows that through that deal the Terre
In speaking of dividends. President Me-
Crea says that i'm 1882 after paying the ex-
q Indianapolis had surplus of s23.4H In
excess of dividends; in 1894 there was a
surplus or $22,SI5 over paying the Semi-an-
nual dividend. In 1895 the road earned, APP
plicable to dividends. enough to pay "A
per cent. dividend. but the building of the
union depot at Terre Haute and the cost
of accidents in that year absorbed most OF
| the sum, and last year cyclone at St
Louis in which the losses were heavy. and
a second accident at Pochantas, absorbed
the sum which should have gone to divi-
dends. In fact, a number OF items are
mentioned which show that 1895 and lSt
were very unfortunate years for the Van.
In 1896 the company purchased twenty
| two locomotives from the Pittsburg loco
| motive works for $4,000. to be paid In
monthly installments of 5000 for -four
| years This was required from the fact
| that the power of the road was far from
! adequate to handle its business. many OF
| the engines being old and too light fol
| the present service. President McCrea, in
| his remarks, speaks quite fully to the
physical condition and the finances of the
| Terre Haute e. Indianapolis which has
| been so burdened by it's nonpaying LEASED
| lines and the losses il has suffered through
| accidents and storms. 1t will be remem
| bered that in the cyclone at st. Louis the
| large freight depot was blown down ant
| fourteen of the employees killed and thirty
| or more injured. In summing up IL viii
| be seen that in the year ending October
1896. the Terre Haute & Indianapolis Rail
| road Company, through operating its foul
| leased lines lost s464 sos 60 and EXCEPT or
| the st. Louis. Vandalia a. Terre Haute, lit
| tie improvement to the physical condition
| of the properties was made over ordinar.
| repairs.