The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-27
HAD 4 PROFITABLE YiAR
GREAT NoRTHERN's ANNUAL RE-
PORT SHOWS ROAD HAS PROS
PERED GREATLY
SURPLUS IS FIVE MILLIONS
Gains Made In All Departments De-
spite Lavish Expenditures for
improvements and Additions
Directors Report.

aTDent ard SHOWS the to9u 10 NC AZ INC
most prosperous condition of it's history.
Marked increases and improvements
have been made along the various lines,
and every depar tment has yielded prof.
table income during the fiscal year end
ing June 30, 1860.
There have. been remarkable gains
made in the passenger department of
The company during the year, which are
commensurate with the progress made
in the freight and other departments
it is evident from the records of the
passenger department that the Great
Northern has carried an enormous num-
Der of travellers between its eastern and
western terminals during the past year,
more in fact, than have ever been car
ried before While this is true. the
freight traffic has been correspondingly
great.
In reviewing the report of the road it
is Interesting to note that the Great
Northern is a home concern" it's di-
rectors' annual meetings in st. Paul, and
their annual report is issued in this city
Moreover, the ma jority Of the directors
are residents of the Sanity City, and
therefore have personal interests here
The major portion of the directors are
brought in direct contact with the work
lngs of the road, from the fact that their
official capacities are active instead of
perhaps can be found in connection with
few other roads of the country.
From the report it is found that the
total earnings this year, SIS, $40, 20, ex-
coed those of one year ago by nearly
S4,000,0O0. The income from operation for
the year was $13,042, 413.0S as compared
with $11 1926, 542.66 the previous year. The
net earnings for the year just closed
were 81, G33, III. "a while one year ago
how I'D tor,
expenses amounted this year to 14,ST,-.
5T.92, and last year to $l2,164, O01. 79.
The company now has in service $50
locomotives, an addition of nine to the
number of last year. The equipment in
passenger and freight cars has been ma
terially augmented.
President Hills statements in the re-
port bear upon the company's interests
in most comprehensive manner, and
lowing is extracted:
NO NEW BONDS ISSUED.
No bonds were issued during the year
by the Great Northern Railway company
or any OF the companies in the system.
Bonds have been retired as follows:
AS shown by the balance sheet pub
lished IN last years report there were
outstanding June go 1899 $4,000 of
Great Northern railway collateral trust
bonds. OF these, $4,000 had been re-
deemed at the date Of last report, leav-
ing then outstanding SIS, 600 as stated
on page of that report These bonds
have been redeemed during the year.
AS stated on page of last years re-
port, the one st. Paul, Minneapolis &
Manitoba Railway company's first mort
gage land grant bond outstanding June
5O 1889, was redeemed by the land grant
trustees on Sept 10, 1899, completing the
mortgage.
The trustee of the st. Paul. Mime
apoiis & Manitoba Railway company's
consolidated mortgage redeemed during
sinking fund, $625, geo St. Paul, Minneap-
oils & Manitoba railway consolidated
mortgage ~ per cent bonds AS no re-
port will be published this wear bv fhe
st. Paul Minneapolis &, Manitoba Rail-
way company, there has been included in
TINS report pages A to 47), as a matter
OF INFORMATION statement of that com
pany's sinking fund accounts and a re-
port of the operation of its land depart
ment
There was also appropriated out of the
net revenue fer the year 100000 towards
the cost Of the tunnel now being built
through the Cascade mountains. This
amount has been deducted from revenue
account on page 80, and is included in
the amount of So, 1884, ISL SO shown an the
ealance sheet, page 80, as cost of add
uons and improvements made by the
Great Northern Railway company to
pnopeTty leased from the st. Paul, Min
ana paid for from fund for permanent
improvements and renewals y The build
ing ing Of the Cascade tunnel has been So
tar advanced since the close of the fiscal
year that it will be finished and mt
INTO general use by Dec l. 1900.
EMPLOYEES SHARE PROFITS.
The present authorized share capital
on the Great Northern Railway GONNA nv
Is Is by, Vgy9G0O, Of which there has been
which $S9,226610 was issued. The incTea 90 ca
IA IN snare capital authorized this Year is
s9;U1u,VVV, and In that issued, S. Ing Sg0
o5 III e or9er TO give the company's old
ana faithful employees an opportunity to
invest their savings in manner which
WOULD allow them to participate in tha
SiSn,pS my prosperity and make a provi-
northern Employees Investment comm
ny, limited. has been formed for fba
purpose of holding shares of the Greaf
s,'i, eliet ~ nalIIMay company's stock, is
sulns 10 qualified employees who have
subscribed therefor its investment certtfs
!cdtes, upon which are paid the DIVIDENDS
lSS0 csl on Great Northern railway
sh ARE. held by the investment cornnsny
The board of directors, at a mae1inc
nelQ on April 90 1900 resolved sIIhian3
i ~ lne approval of the shareholders. 70
utcIedse the authorized capital Of 4bo
company by 10000 shares Isl 001 dNm I'll, tLis
hodltlonal shares to be issued onIv 10 ~
Inc Great Northern Employees invest
tie tie as oelibpany, Limited, from time to
tlons set forth in the RESOLUTION anfb Llur-
lziny the Issue of such shares
fora Ap2rovaI Of the shareholders of the
toregolng resolution will be asked rnT
st Inc annual meeting to be held on oct
II, 1SO0. Pending such assent tbe
company has transferred to the invest
Paiiwe eoiii aoaaS rom the Great Northern
+t eatiNS'4y company shares carried In RS
treasury, the number of shares snf'
ecrlped and paid for by the investment
The board of directors is pratieea -
zee from the monthly subscriptions b ~
etIiployes a steady increase in the b.5oi.
v u rec regulariy saving a portion of their
ors I ne St stoekhoIders and board of direct
ors Oh the Willmar & Sioux Fails Ran
way company adopted resol1ltiors a.,
of IS 500 nc1 ~ t,s auttnorlzing an increase
I I,.l,, lor the purpose of ACQUIRING fba
Property of the Sioux City & Norfhe eia9
retsoo company, extending from Car
Rroperty of the Sioux City & Weste eIre
eGn;ailWay company extending from So,z+b
propert y''g " to o. o,sNeiI. Neb ard the
tRaliroad company, in Minnehaha Iarllal
ty, South Dakota. ''Seiia coun-
EXTENSIONS OF THE ROAD
Ihe st. Paul. Minneapolis & Manitoha
tlaIWay company has comnlefed 20 "a
der nth the or n new lines during the year I'M
The building Of an extension OF it's G,ae
nus ls1es5 nqihs In from its present termi
me hutchinson branch, near St. B %11n
la .sEL, MINI, distance of 822 miles
a ne,5 laying of the main track Of This
90 ti,s vas completed June so. 1903,
I'll ne i, Si,dlngs and ballasting during
I I1ly the 1od line being open for traffic on
Ihe building of this extension short
ems Inc distance between Minneanolis
and Hutchinson, Mimi. by L37 miles: re- re-
ouces the maximum grade to six-tenfhs
OF per cent, and cuts out a great deal
OF curNaflIre II 800 49,