Daily inter mountain., 1900-12-24

In It's scope the pension system pro-
posed, which will go into effect January
/. 1901. is the most sweeping yet effected
by any American corporation, in that 1t
takes in every employe of the system
from the highest to the lowest-there is
no discrimination. The average number
of employees of the road during the last
twelve months has been 26.72S, and if
each has at least three persons depend
ent upon him or affected by his success.
this pension plan really enters into the
life of 10000 people.
The executive board Is to be composed
of William A. Gardner. general manager;
Edward e. Carter. chief engineer; Rich
ard c. Ashton, general superintendent;
Robert Quayle, superintendent of motive
power and machinery: W. I'll. StennLtt,
auditor of expenditures.
This board will pension employees of
the road upon the following plan:
Any employe who is between sixty-five
and sixtynine years of age. who has
been thirty years in the employ of the
road, and who is disabled in service, will
receive pension of per cent per month.
calculated upon his monthly rate of
wages for the last ten years of his SER
vice with the company.
Any enlploye who has reached the age
of seventy years. and who has been
thirty years in the employ of the COM
pany will be retired upon a pension of
per cent per month, calculated upon the
monthly rate of wages paid him for the
last ten years of his service with the
company.
Any employe who has reached the age
of seventy yars, and who has been
thirty years in the employ of the COM
pany, will be retired upon pension of
l per cent per month. calculated upon
the monthly rate of wages paid him for
the last ten years of his service with
the company.
Working in harmony with this plan is
another rule of the company that it will
not employ any man over thirty-tive
years of age.
A project for pensioning employees and
paying benefits in case of sickness. dis
ability or death is under consideration by
the directors of the Milwaukee road. The
arrangement contenplates assessing the
employees for onlv part-probably half
of the funds necessary to carry out the
system. the rest of the expenses to be
borne by the company. If it is finally
adopted it Will affect from $4,000 to 80, 900
employees.
The preliminary report on the income
account of railways in the United States
for the year ended June so, 190O prepared
by the statistician to the interstate COM
merce commission, contains returns of
operating railway companies represent
ing 100, 406 miles Of line.
The gross earnings of the railways in
cluded in this report were 81, ,4sO, 673, ,OO4
or $1,716 per mile of line. OF these earn
ngs, 1896, $50, 760 We're classed as passen-
ger earnings and $104S, ,26S, ,S75 as freight
earnings The gross earnings shown in
the final report for the preceding year
We're $1,ol3, ,6lO, 11S. Operating expenses
FOR the last fiscal year aggregated $685.
Sl4,li2. or 5,O20 per mile of line The
net earnings Of the roads embraced in
this advance report Were $523, ,S5S, 912 for
1900. or $73 11O,747 more than they were
for 1899 Income from investments and
other sources amounting to $60675, 100
We're received, SO that the total income
| was $54S, ,534, ,612.
The total deductions from income were
S395, ,Sll,O56. This item includes interest
| on bonds, rents for leased lines, taxes and
| other charges to income. The amount Of
! dividends declared was s109, ,4O0,147, which
| is $27. $50, ,3SS greater than the amount de-
clared by corresponding roads for 1899.
! The resulting surplus from the operation
OF the roads covered by this preliminary
report was S19,S23,4 400. The surplus shown
in the final report for the preceding year
was $53, ,064,S77. The amount of dividends
stated. the report explains, does not in
clude the dividends paid to stockholders
by railroad companies the mileage of
/ which is operated under lease or some
| other form of control.
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