New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-18

Rent OF the Chicago.
orleans Railroad: :. 81 1876, $50 80
buq rI@' and sioux
Rent ny q s'i the st. Louis 800 ''- 80
Division ..........' 533'W 70 o,..
Total fixed charges and rent. s5ioos31
leaving available OBSERVATION-DISCLOSURES. s5slslisM
This has been disposed Of as follows:
Dividends payable March and September
T. isos per cent on s52 100000 s2so5o oooe
Insurance fund and betterments
csrTSd f5rwaraa to surplus dividend fund:
appiicabi 1't to future divdends . .p'' sslssn
Total s53isIsm
-
The sum taken from the years earnings has
been used for the following purposes:
There have been added the insurance
There 1Srr' have been paid out ior bei,ermen,-
ing therein an allowance = $4,000 FOR
sso appea d% mans the R as, .s s monh 100000
There have been set apart as fund q pro
vide during the next eighteen months
,Iuv / 1855 10 December 81. 1890. FOR
already made ot all the automatic coup
lers and airbrakes required by Ia" in re-
,,,.scbing fh.m 70 the ca-s'............. sosoNo
Total sl.72s4s 70
The original charter 81 the company reserved
TO the State Of Illinois, in lieu Of taxes, pc:
cent of the gross receipts Of the IO8 miles OF
railroad built Hereunder The sum 50 paid the
State has this year been StioSi 23 which. II cap
itazed 3D. per cent, would give SlSN2u60I
as representing the proprietary interest or the
state OF Illinois in the Illinois Central Railroad
The other portions Of the railroad. both In Hi
nols and elsewhere. are taxed in accordance VIII
the laws OF the several States. The taxes pal
I'm respect 10 them have this year amounted =
SG33. $50 10 as against Sf+S34S 80 in the year
preceding the increase being S1SJ3i1 30 o.
Il 34-lO0 per cent. While II is true that the
average number OF miles OF railroad operated
exclusive OF the 700 miles specially taxed as
above. has this year been 3,O69. as against 242i
in the year preceding. this increase OF 6io miles
amounts 10 only ~ 6l-loo per cent.
As the report shows in detail. the settled policy
OF the company TO improve from year 70 year
the standard or maintenance has been adhered
TO- the maximum weight OF rail having been IN
creased from seventy-fve pounds TO eighty-nve
pounds per yard: the standard width OF en-
hankment for snge-track from l. feet TO ~
feet: the maximum capacity Of coal cars rom
thirty tons TO forty tons. and the maximum
10 seyenty-nine tons. Grades between East
Cairo and Fulton. In Kentucky, have been re-
duced to a maximum OF 80 feet 10 the mle and
the company has undertaken the reduction o,
grades between Fulton and Memphis from
maximum OF 80 feet to one OF 26i, against
southbound traffic. at an estimated cost OF
81 oOOOOO The connection of the fazoo anu
Mississippi Valley Railroad with what was for
no branch
some less expensive work shall have been Done
az other points. afrord-over the line from
Chicago TO Memphis that OF the Yazoo and MIS-
sissippi Valley thence 10 Jackson. MISSISSIPPI
and the line from Jackson TO New-Orleans-a
route approximately N2 miles long having II"
where except between Carbondale and Fuiton,
grades exceeding 264 feet to the mile against
southbound traffic. The on these ninety
nine miles between Carbonate and Fulton o'
heavy locomotives will readily overcome '"s
grades OF - feet 10 the mile there preVains'
II will certainly be eighteen months ana per
haps longer. before the advantages Va 49,
changes can be fully felt.
The report quotes from that OF the i"|oo 90
Mississippi Valley Railroad Company "h'cn
an Independent corporation. operating i''
own account 500 miles of railroad io'lie'H
Railroad Obviously that property Is proSpe'.
ing as the net earnings Of these W. M ;.
which In 1929 had been SOB io9 WIZ
1873 81. Scoops AS the Illinois Cehtra' Won
road Company owns all Of the hfs' ii''
bonds all of the second mortgage oou
all but SOC 600 II the third mortgage oo"D'
which are non-cumulative income po""''
which no interest has ever been pau' F" - 49,
to say that the Capitalization Of the ll'not' 80,
trail Railroad relates not only 10 INC - ,,or
OF railway which mat company hau i, .o,
June 30 1898 but elso to the 500 "'eS w."
and operated by the Yazoo and MISSISSIPPI o.,
ley Railroad Company making 'ose'"e'
miles. ,-.,
The report closes with the following GENE
remarks THE fact that the 81. Louis dN's,o-
ara ~. Louisville division considered ioc"N'
hy themselves have each earned during the yea'
sor,ewba, in excess OF the charges incutreu /"
respect 10 them while in itself srathSi"s'
M means measures their value TO TINS coi'p
which is more clearly reflected in the increases
earnings Of the property taken as VIM,
Your directors are than ever conV'hoe.
that the profit OF he business lies IN rea'''"s
in the large cities the vast traffic originated -
and distributed through them for when !o.'
railway affords me natural outlet 10 the "u
OF Mexico. The possibilities OF the TRADE WIZ
Cuba and the West Indies are now engaging "
much public attention TO call for no con"
ment in this report and gives. as usual baiahe'
shee, with full explanatory abstracts ana Wait
ous tables. showing the details Of the business
The number Of officers and employees. otne