The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-08-23
B. R. T. BUSINESS LAST YEAR
PAssENGER EARSINSs MOVED ~
PEN CENT. INCREASE.

Tho report OF President Rossiter Of the
Brooklyn Rapid Transit Company for the year
ending June 80 was made public yesterday.
The company has paid no dividend. though the
earnings show total net surplus OF earnings
over operating expenses up to June 80 1899.
OF $67S. / % 75 an increase u 1892, 549.25 over
the preceding yenr. During tho year the COM
pany very nearly doubled the mileage. Presi-
dent Rossiter says: 1T can now be said
OF the Brooklyn Rapid Transit system
that In mileage OF track 1t is the largest
street railway system In the world. comprising
Doe miles. or more than twice the tiackaRe OF
the Metropolitan Street Railway Company
nearly 400 miles more than the Manhattan
Elevated Railway Company. 80 miles more
than the Union Traction Company Of Philadel-
phia. and 173 miles more than the Boston Ele-
waited Railway. Company. including the old
West End Company. or your company's mile
age about 81 miles are on rights OF way owned
by the company. and are therefore not subject
to any franchise tax.
That in amount OF passenger earnings 1t
surpasscs every street railroad system in the
world with tho exception Of the Metropolitan
Street Railway Company.
That its passenger earnings for the fiscal
year ending June 30. 1872. were 81 | .O35 2l6
mot including the Brighton Beach line during
practically the entire year, which represents
IN lncTeube IN pusbenReT earnings over the pro-
ceeding year OF Sl.15S.215. or nearly IL
per cent. This rate OF increase has
been without any such stimulus to traffic
as Ia expected to result from electric
operation OF tho elevated railroads and tucker
transit by proposed Combinations OF surface
and elevated routes.
80 That its gross earnings for the year begin
ming July /. 1S99-the first full year OF opera
ton as a combined system-will be not less
than $l2.0O00O0, while its entire net fixed
charges after deducting payments between
comnanes will be $3.40e.O00. which is some
what less than the fixed charges OF the Metro
politan Street Railway Company. and $4,000
600 less than the fixed charges OF the Union
Traction Company Of Philadelphia. From
the opportunities for economies which are
presented by the com bination Of elevated and
surface properties, II would seem as II the
system should be operated. including the pay
ment of taxes. at not over So per cent. of the
gross earnings under full electric operation.
and this percentage should be reduced as
economies are fully established. The Union
Traction Company. OF Philadelphia. operated
during the year ending June 30. 1893 for ~
per cent. including taxes, and the MetrOpoli-
tan Street Railway Compauv. Of New York. for
$3.50 per cent. including taxes"
The companies that tho Brooklyn Rapid
Transit Company acquired or leased during
the year were these: The Nassau Electric
Railroad Company with q capital stock Of
$l5,O0O,OOO. Of which the Rapid Transit Com
pany acquired Sl4.55l. ZIG: the Coney Island
and Gravescnd Railroad. with capital stock
OF oiOO. all Of which was acquired by the
Rapid Transit Company; the Brooklyn Union
Elevated Railroad Company. with a capital
stock Of Sl6. 75Gsfo. Of which the Rapid Tran
cit Company acquired Sl5.5l2. 535 80: the
Kings County Elevated Railroad Company. the
capital stock OF which was So 500. 900. all ac-
CURED by the Rapid Transit Company. and
the Brooklyn * Brighton Beach Railroad.
the Prospect Park 4 Coney Island Railroad, tho
New York h Couey Island and the Prospect
Park South Brooklyn Railroads. all OF which
were leased. The fixed interest charges Of the
property acquired amount to 81. 34l, 100.
To acquire these properties and to equip tho
Brooklyn q Brighton Beach Railroad and the
Prospect Park & Coney Island Railroad with
electric power. the report says. the company in
creased its capital stock to S+5 0CO 600. OF which
S43.0OOUOO has been Issued and the remaining
$2,OOO,OOO is to be issued to acquire the entire
capital stock Of the Kings County Elevated
Railroad. The report says that the issue OF
t25. 100000 Of new capital stock brought to the
company securities OF the par value OF
e3S. 500, 65l.!W besides the old Brooklyn
Brighton Beach Railroad rights OF way and
hotel property. The companies acquired have
been reorganized with total net reduction
in their fixed charges Of $663.000 a year.
Regarding the disposal OF the surplus tho re-
port says: while the company would have
been justified in distributing this surplus to
the stock holders In the shape OF a dividend,
think II has adopted the wiser course OF
using 1t for the strengthening Of the COM
pany 8 condition and financial position. and has
therefore appropriated toward new equipment
and construction on railroad properties $780,
1928. and toward extinguishlng old def
cencies OF the Brooklyn. Queens County l.
Suburban Railroad Company, which we're &C.
crued prior to the acq uistion OF this company
by the Rapid Transit Company. and for which
the Rapid Transit Company was not resronsl-
BILE. 1921 Halo. The result OF these tran sac
tions Is that the physical condition Of the con-
stituent companies Ia excellent, an their books
are exceedingly clean"
Concerning the plans for new work the re-
port says that $50 new winter cars and 300 new
spring cars have been ordered. as well as nine
hundred 4U-horse power motors. Power brakes
are to be put in all cars to reduce the liability
OF accident. Accidents last year. the report
says. cost the company 1923. 212.29.
In regard to the elevated railroad, the report
saws that since the close Of the last fiscal year.
the entire Fifth Avenue line has been changed
over to the third-rail system. and is now
being operated with a complete electric
service, steam trains being used only during
the rush hours OF morning and evening suf-
hcient new eighty pound steel rail has been
ordered to relay the tracks ON Lexington avo-
nue. and portion OF Broadway. and these lines
will be completely rebuilt and the third rail in
stalled in time for operation early this
winter. The Kings County Elevated line
has had the third rail put in
place over about one-third the structure,
aud work Is being pushed on that line.
The company will have in readiness next
winter sufficient number OF motor cur equip
ments to run much more frequent service
than has ever been given heretofore by steam
on the Fifth avenue and Lexington avenue
branches Of the Brooklyn Elevated Railroad
and on the Kings County road.
Under the head OF Benefits OF Consolidation.
Mr.. Rossiter says: While the process of actual
consolidation and combination so as to attain
the best results is necessarily slow. have no
doubt that when perfected. consolidation will
hnV vall fha nod lac, ,.ki TAXI