The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-15

CAPITALIZATION AND VALUATION.
Inc amount of railway capital out
slandlng on June 30, 1899, was 81, 033 1884,
60 1hls amount assigned to a mileage
OASIS represents capitalization of $50, $3.50
per mile OF line. OF this amount of cap
ltal $o'o1S' Oll, 726. existed in the form of
STOCK, Of which 81, 1923, 1863 was COM
mon stock and s., 191, 10, 757 preferred
STOCK. The amount which existed in the
form of funded debt was $5,518, 943,1
rms amount of funded debt was CLASH
ned as mortgage bonds, 81, 731, 154, 376;
miscellaneous obligations, $4S5, 7S1, 695; In
come bonds, $3.50, 048, 1853, and equipment
trust obligations, $42, O58, S4S. The amount
OF current liabilities not included in the
foregoing capital statement was 1854, $780,
VIZ, or $3,O42 per. mile of line.
The amount of capital stock paying no
dividend was s., 275, 500 1S1, or 1888 per
cent OF the total amount outstanding.
Inc amount Of funded debt, excluding
equipment trust obligations. which paid
no interest, was $572, 41O, 746 OF the stock
paying dividends 11.91 per cent of the
total amount outstanding paid from i
to per cent 7.84 per cent paid from 4
to per cent, IA per cent paid from to
6 per cent, 4.A per cent paid from to Z
per cent, and 5.18 per cent paid from Z
to per cent. The amount of dividends
declared during the year ending June 80,
1885, was Sill, 009, S22, which would be pro-
duced by an average rate Of 1856 per cent
on the stock on which some dividend
was declared. The amount of mortgage
bonds paying no interest was 1914, 460, S5S
or 1892 per cent; of miscellaneous obliga-
tons, $40, 422, 403, or 1850 per cent, and of
income bonds, $127, 1856, or 1904 per
cent iS; i5IE;sS 80
PUBLIC SERVICE.
io5 Inv
ing the year ending June 80, 1899, as
shown in the annual reports of railways,
was 523 176,50S, showing an increase for
the year of %, 109, 1927. The number of pas
sengers carried one nile-that is, pas
senger age-during the year was A.,
591, 1927, 613, there being an increase In this
item of 1,211, 1897 609. There was an in
crease in the density Of passenger traf-
flc, as the number of passengers carried
one mile per mile Of line in 1879 was
77,S21, and in 1898, ", 462.
The number of tons of freight carried
during the year was 959, 1888, an In
crease of S0,757276 being shown. The
number Of tons of freight carried one
mile-that is, ton mileage-was 123,667,-
81, 159. The increase in the number OF
tons carried one mile was 1883, 680, 84S.
The number of, tons carried one mile per
mile of line was $50, 565. These figures
of Al, 755 tons carried one mile per mile
Of line.
In the report is inserted a summary OF
freight traffic analysed on the basis of a
commodity classification, and also
summary indicating in some degree the
localzation of the origin OF railway
freight by groups of commodities.
The average revenue per passenger per
mile for the year ending June 80, 1889,
I'M
was 1873 cents. The revenue per ton or
freight per mile was .7A cent, while for
1898 1t was .753 cent. An increase in
mileage earnings is shown for both pas
senger and freight trains. The average
cost of running a train mile increased
nearly three cents as compared with
1898. The percentage Of operating eX-
penses to earnings shows slight de-
crease as compared with the previous
year.
EARNINGS AND EXPENSES.
For the year ending June 80, 1899, the
gross earnings from the operations OF the
railways in the United States, covering
an operated mileage of S7,5346S miles,
were $1,313, 610,11 being $685. 97 more
than for the preceding fiscal year. The
operating expenses were $S56, S99, the
increase in this item being $3S, 995, 72S. The
details
Passenger revenue, 1921, 112, 993-increase,
as compared with the preceding year, $24,-
142. 500; mail $S5, 9996uz increase, 81 $50 659;
express, $780, 756, 054-increase, $S47, 1873; other
earnings from passenger service, $,6S7,
63-increase, s463, 1863; freight revenue,
1913, ,155-increase, $37 1908, 43t; other earn
ings from freight service, 81 ,SOi--de-
unciassified items, $34, 055 738-increase,
81, S51, 95S. Gross earnings from operation,
per mile of line were $3.50 more than for
the year ending June 80, 1898, being $7,0O5.
The operating expenses of the railways
for the year under consideration were as
signed as follows: Maintenance of way
and structures, $3.50, 40, SOC; increase, $685.,
S48 Maintenance of equipment, $50, 49,
249; increase, $8,294,3S7. Conducting trans
portation, $4S6, 1596O7; increase, so, 1858
General expenses, $3S. 676, 1888; increase,
$1,000, 1877; undistributed, $500, asa. The OPP
Grating expenses for the year in question
were $3.50 per mile of line, or $40 more
than for the previous year. An analysis
of operating expenses for the year ending
June 80, 1899, according to the ffty-three
accounts embraced in the official classii-
cation, appears in the report, with a
statement of the percentage of each item
in the classified operating expenses for the
years 1895 to 1899, inclusive.
The income from operation, or the
amount of gross earnings remaining after
the deduction of operating expenses, gen
orally designated as net earnings, was
$456, 641 119, an increase as compared with
the year ending June 80, 1898, of So, 2SS, ia.
The average amount per mile of line for
1899 was 81, 49, and for 1893, 81, 325 The
amount of income received from sources
other than operation was $14S, 713, 9S3 This
amount covers the following items In
come from lease of road, 500, 1852, 295; divi-
dends on stocks owned, $50 1O4, 521; inter
est on bonds owned, 81 1874 $50; miscel-
laneous income, $20,922,477 The total in
come of the railways, S605 355, 102-that ia
the income from operation increased by
the income from other sources-fs the
item from which fixed charges and anaIo-
gous items are deducted in order to reach
the amount available for dividends Total
deductions from income amounted to
$441, 2OO, 2S9, leaving 1854 154,S13 as the net
income of the year available for dividends
or surplus.
DIVIDENDS.
The amount of dividends declared dur
ing this year, including $8O114 other pay
ments from net income, was S111, O89. 1856
leaving as the surplus from the opera
tons for the year ending June 30, 1893,
being s44,O7S,557.
The deductions from income SAL. 2OO.
$780, already mentioned, comprise the fol-
lowing items: Salaries and maintenance
of organization, $685., 1872; interest accrued
on funded debt. $251. 1885, 0S7; interest on
current liabilities $7,102, S47; rents paid
for lease of road, s94, 4O6, 1877; taxes, $46
632; permanent improvements charged to
income account, $13,O70,045; other deduc
tons, SIS, 529, 749
RAILWAY ACCIDENTS.
The total number of casualties to per-