Evening journal., 1901-01-12
AN EXCELLENT SHOWING

With its several branches and indie
pendent feeders, the Delaware railroad
is the Peninsulas most important COM
mon carrder, and the annual report OF
the operations and finances Of the com
pany Is a barometer OF the business of
Delaware and the Eastern Shore of
Maryland and Virginia. It shows that
during the last year there was large
increase in freight revenue due to
the increasing through traffic from
connecting lines. and to the improved
fruit crop on the Peninsula. The
steady revival OF trade under the fos-
tering care Of the Mckinley admins
tration also contributed to swell the
aggregate OF the company's tonnage.
The operating expenses were increased
materially and the property was main
tanned i'm excellent condition ANA yet.
after providing for all fixed charges
and other liabilities, there was a net
income Of S4sO,54O72 and after paying
the regular dividends of six per cent.
amounting to Si7922I5O. and trans
fewing to the extraordinary expendi-
ture fund the sum Of 100000. there re-
mained a surplus Of sl51, 1892, which
was carried to the credit OF profit and
loss account.
The showing made by the mainte-
nance Of way department was that
l,4Tl tons of new steel rails. 7.3iO
pairs OF splices, 169.47O pounds
Of spikes, and 106,579 cross-ties were
put in the track. and 1887 miles OF
track relaid with new S5-pound steel
rails. New passenger stations were
built at Farmington. Townsend and
Goldsborough, and new freight stations
at Townsend and Bridgeville. The
train mileage during the year was as
follows, Passenger 493.S97 miles, a
decrease of 9i7 miles; freight, 500, ,77s
miles, an increase OF 37,SO1 miles.
total, lO5767O miles, an increase OF
36,SS4 miles
In Treasurer Hayes's report the gen
eral income account shows that there
was received From freight traffic,
Sl10l,451l6; passenger traffic. s44i-
1921; and from mails, express, rents
and miscellaneous traffic. slOO.7s8.g7,
making the gross earnings total, ST.
6iG.660.S4 an increase over last year of
s25512S
The expenses include: Maintenance
OF way and structures. 1926. .922.S9:
maintenance OF equipment, s205, ,825.T3:
conducting transportation, S576. 6.S05.f1;
general expenses. S34.3S711: making
the operating expenses total, s1,113,-
4l0.97 or an increase Of S123697 4t
over last year
There were additional net earnin Is
OF s20,5OO, interest on investments and
S6.7l464. interest on deposit account
From this is deducted interest on
Delaware Railroad Company's bonds
S22,5O0; Delaware and Chesapeak,
Railroad Company bonds. $4,000; in
terest on equipment. SSO135l1; tax S
S25,77414; sundry expenditures On sid
ings. rights Of way and tracks, S3i,
4S4.04, which leaves a net income O
S4S054072 From this amount twl
semi dividends were paid i
July and January, respectively, amount
ing in the aggregate to Sl79. .2275)
leaving a surplus Of S251 1892. an in
crease Of S9Sl5O.56 over last year.
When it is taken into account tha
the system, including all branches, EN-
braces only 2249S miles Of track, trad
conditions musthave been good andth
r property itself must have been handle
I mcst intelligently to enable the dire,
( tors TO make such an excellent show
L ing.