The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-02-08
WHY THE EARNINGS FELL OFF.
CENTRAL DID NOT GET THE BUsI-
NESS ~ 1896 1T HAD IN 1895.

Passenger business Cut Down by
Late Winter season and No Atlanta
Notwithstanding on in Freight
Earnings Because the Ocean
Steamship Company Had to COM
pete Against Greatly Reduced
Freight Rafes-Present Business or
the Road Not as Good as IL was "A
Year AgO-Mr. II. 4. Dunn of the
santa Fe Appointed Auditor of the
Central in Place of MIR. VIM. Hawn
Resigned.
The falling off in the earnings, gross
and net OF the Central of Georgia Ran
way Company, for the six months ending
Dec. 81, 1896, as compared with the six
months ending Dec. 81, 1895, was not
surprise TO the officers Of the road. TAX
ing into consideration the conditions which
brought it about.
Vice President John NJ Egan of the
Central was asked about the matter yes
terday by a representative of the Morn
ing News. According to the statement
sent out from New York the Central of
Georgia Railway Company and Ocean
Steamship Company for December show
gross earnings of 1924, 1888, against S745 $50
last year. and net earnings of $29S, 1877,
against sS19,9s1 For the six months END
ed Dec 81 1896. the gross earnings were
S,SSs, 697, against S4,065 $40 in 1895, and the
net earnings $l,267, 237, against 81, Ala 49, a
falling off Of Sl47,256 in the net earnings
for the six months.
Mr.. Egan in discussing the matter as
signed several reasons for the falling off.
Among other things he mentioned the diff
ference in the passenger business arising
from the fact that in 1895 this item was a
heavy one owing TO the travel on account
of the Atlanta exposition. This the rail-
roads, of course. did not have in 1896 and
many of them no doubt, felt the loss of it
in making up their statements of earnings
Tor that period. In connection with the
passenger business, Mr.. Egan also mem
toned the open winter in the north, which
has held back considerably the travel from
that section, and this, of course, counts.
With regard TO the freight business, Mr..
Egan said ii was fairly good during the
six months in question with the exception
OF the eastern business via the Ocean
Steamship Company. The Ocean Steamship
Company, he said, had found it a hard
matter to secure business owing to the
many reductions of rates made by other
lines. The recent rate war inaugurated by
the Seaboard Air Line no doubt had
good deal to do with this, though Mr..
Egan did not refer to that feature of the
matter.
The business of the road at present, MIR.
Egan said, is not quite as good as 1t was
a year ago January and February are
dun months, anyway, except in the haul
ing of fertilizers, and while the business
is handled west-bound. many of the ears
have to be hauled east-bound empty The
reduced rate on Fertilizers, as made By
the state railroad commission, has un-
doubtedly cut into the earnings of the
Central, as well as of other roads through
out the state. All of these things were
feared, and 1t was known all along that
falling off in earnings would be shown.
These matters We're presented to the rail-
road commission. Lut the commission, it
appears fr8n itsaction. did not take much
has come to light that the results were
as predicted, and the railroads are the
sufferers.
According to a special dispatch from
topeka, Kan, the Central of Georgia
Railway Company is to have a new audi
tor, Mr.. II. A. Dunn of that city, who
Is at present connected with the Santa
Fe. The dispatch says:
Mr. H. A. Dunn of this city, assistant
auditor of disbursement of the Santa Re
railroad, has received notification of Ills
appointment as auditor of the Central Of
Georgia Railway Company, and has ac-
cepted the position. He will leave here
about Feb. 20 for Savannah. Mr.. Dunn
was recommended by Mr. Haslkins, the
new controller of the Central He will in
augurate new system of accounting in
the auditing department. Mr.. Dunn has
been with the Santa Fe for several years,
and is a railroad accountant of excep-
tional ability"
Vice President Egan was asked about
this reported change but had nothing to
say with regard to il except that he knew
such an appointment had been made by
President Conner. The appointment was
made to fill the vacancy caused by the res
ignation of Mr.. William Hawn, the pres
ent auditor, who has been connected with
the Central in that capacity little more
than a year. Mr. Hawn, who was form
erly with the East Tennessee, Virginia
and Georgia, was appointed by President
Conner shortly after the organizat ton of
the new company. He has made an able
and capable official, and the officers of
the road will regret to see him leave its
service.