New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-06

Total ......................,.. 1913? S7.eY
o o5 %s7 EXPENSE: and .:. T .sH:
Net receipts from operations ....,......,. ssissia
din par, accrued prior January l. 1851. s6io
ro,,, ,ncom. S7pG
Infera,, on funded debt .......,.. ~ 600
AS,ustmer, = taxes paid ........ is5.els
surBIu, exclusive Of income from branch n7sw
This amount represents taxes paid h. The receivers
January and March The main line and Kan.
and Denver Pacific lines IN excess or we am ln "
ing expenses and taxes as shown above
As the company assumed the payment OF tho
full six months Interest which fell due on its
bonds on July l. 1S0S although ii did not begin
10 operate its roads until February |. 1873
(main ne) and april l. 1888 kansas and Dem
YER lines) there mas been included in the earn
ings from operation the net receipts from the
operation Of those lines during the portion of
time In which they were not operated by the
company. the amount representing such net
receipts having been received ny the company
from the receivers. No interest is charged On
the S5OOOOOO first mortgage bonds owned ~
the company. as they were received on juno
30 1898 the coupon due July l. 1928, having
been cancelled The land grant lands and the
land contracts now absolutely owned nv the
company or indirectly owned by It through its
ownership Of the securities Of the Union Pacific
Land Company 100000 stock and 100000
bonds) have tn. following estimated value:
Lands s577O OO acres. ~ estimated value
Of SS097 800: land contracts So,ss4, i94; total
estimated value. S14SS1994
LOUISVILLE AND NASHVILLE REPORT
The pamphlet report Of the Louisville and
Nashville Railroad Company for the fiscal year
ended June 80 shows the following favorable re-
suits Of operations. compared with the two pre-
ceding years:
SO ~ 'fs sss s
.arnlns, ssssss9, s ,ss %, Hg s.s is
4. To; eS.is.. S 5s.sss : ssS: 5Ss: s'
eurlu. Ms,7soa sa7also Nssssoa
.Includns Georgia Railroad and ohs5 dssss,
ti n isss l"'''''' ''"'''' '"' '''@ '
There was no increase in capital stock IN the
year. The additional s5.OO0.0OO authorized on
November g. 1893 has not yet been issued
Compared with 1897. the bonded debt increased
S16s69 The average length Of roads operated
was 1888 miles and the net earnings per mile
were 1896. against 81 1Ss in the pre- ceding year
from CO 90 In 1897 to 81 81 in 1898. Gross earn
ings were the heaviest Of any year since le'-.
Improvement account shows expenditures Vi
1853. $50. against S54657l in 1891.
The construction account was closed on July
1 1894 since which date the items heretotors
charged to this account have been charged to
operating expenses. under the sub-account-'"'
movement account The details OF this account
5000 $50 13. appear at length in the report the
improvements and betterments upon the Nash
VILE and Decatur Railroad. to he settled for AZ
IN. exnration OF the lease and which have
bean charged to CONSTRUCTION Account. Nasn'
VILE and Decatur Railroad" during the year,
amount to S29S4I 30 On April |. 1898. ms
Louisville and Nashville Consolidated Mort
gage per cent bonds. amounting 10 sIo'o"'
matured. In order to provide for the paymen.
Of these bonds for the cost Of the Paducah an'
Mer,ph,s division. and the liquidation NJ tho
floating debt 81 the company. there have oeen
issued $40. 100000 collateral trust hve-twenV
year gold bonds secured by Sl4.WU.ooo OF UNI
fed nftv-vear 4 per cent gold mortgage bonds
and s4OOO.OO0 Paducah and Memphis diVis'H
fftv-vear per cent gold first mortgage bonus
as collateral These bonds have been sod d. p"
satisfactory price and the proceeds have oer"
applied to the payment Of STOOL ~m cohs'''
dated mortgage bonds 0eaving still outstannms
$50 OOO) and 10 reimburse the company TOT '.'
expenditures for the Paducah and Men'P"'
division amounting 70 S3,623.3l9 10. ana INV
balance Of the proceeds is In cash In the treas
ury OF the company.
Income account has been charged Win Wv
discount on bonds received for the sinkihs 'u'-
PAYMENTS and for sinking fund payments w
which no bonds were received. amounting
s162 OO7 so; also. the annual pro rata discoun'
on bonds sold. amounting TO S263Io Oh ana w
loss on ~. other roads amounting N S1t3l"-''
leaving a balance TO the credit OF income ~
count Of 81 G32. sol 81. which has been t'a"
ferred to the credit Of pront and loss ae'ou,
The directors have revalued the assets OF III.
comnany. and have charged all losses account.
and advances considered uncollect!be. 10 wv
amount Of S12s 246 81. to profit and loss a
count The balance to the credit ~ prom Az.
lose account June 30 1895 Is 50. sf63'D to i'
renort saws. THE physical and financial conc
ton Of the company is eminentiy ss's,ao''
7, has inward OF S2O0oO0o in bank, ana :"
trely free from floating debt. The '''''o
uent Of the physical condition OF the comps"'
property. its rolling stock ETC. when mas ,bs
made during the last five years. will rehe'e
management from further extraord'""'' rns
r.rd,ture for Improvement OF the ROAD
expenditures for the terminal facilities a. a.
,,,,s Tenn will he represented by bonus
cured by a lease Of the terminal properly ,r,s
ly to the Nashville. Chattanooga anu ~ r,,sd
hallway and Louisville and Nashville ni ,,s
comnantes II was the understanding WIN
employees OF the company. at the ''i'.e 100