The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1901-10-01

presented and the officers of the road we're
congratulated on the excellent showing
made during the last fiscal year. The di-
rectors' meeting reelected all of the old
officers as follows:
Edwin Hawley, president; L. f. Day,
vice president and general manager; F..
H. Davis, treasurer; Joseph Gaskell, sec
retary and assistant treasurer; William
Strauss, general counsel; A. e. Clarke,
general solicitor; Frank Nay, auditor.
Among those present at the stock
holders melting were Edwin Hawley, F. E.
Palmer, F. H. Davis, G. F. Dimock, and
William Strauss Of New York; L. F. Day,
Of Minneapolis.
The board of directors in addition to
Messrs. Hawley, Palmer and Weir, in
cludes John E. Searles, William Strauss,
F. H Davis, Edwin Langdon, George
Crocker, of New York, and L. F. Day, of
Minneapolis.
Immediately following the meeting the
directors left for Storm Lake on a special
train. They will make trip of inspec-
tion over the system returning to Minne-
! apolis Tomorrow evening,
Financial Summary.
The annual statement shows the gross
earnings for the past fiscal year to be
So, ,275, ,50368 operating expense, $1,84S,-
tional income from interest on invest
ments, rentals, ETC., $28S,S06.S5; making
toal receipts $1,71o, ,625.85; surplus, $213,
1925.
During the fiscal year the preferred
stock paid five per cent and the common
stock, four per cent. The total dividends
amounted to $440,0O0. Four years ago the
common stock paid no dividends and the
preferred paid but three per cent
The directors expressed much satisfac-
tion over the wonderful progress of the
property in four years The road has not
only increased its earnings and become a
permanent dividend payer but the physi-
cal condition of the property has been so
improved that it is practically new rail-
road to what 1t was four years ago.
The purchase of the Wisconsin. Mime
sofa & Pacific, 123 miles from Morton
Mimi, to Watertown, S. d.. proved a good
move. The building Of the southwest ex-
tension from New Ulm to Storm Lake has
not only added greatly to the efficiency Of
the system but enhanced its earning pow
er greatly. The Storm Lake line has
proven a very profitable venture. The
general policy Of the road in the past
four years has been to make the general
equipment as perfect as possible and the
track fast. Grades have been reduced
the main line relaid with heavy steel and
much heavy motive power purchased.
The road has lost no valuable connec-
tion In this time but has added the impor-
tant connection with the Illinois Central
via Fort Dodge and Omaha, which has
given it share of the traffic between
Minneapolis and the Missouri river.
1t is as good as settled that the present
arrangement with the Burlington. Cedar
Rapids & Northern will continue until
that road has completed arrangements to
enter the twin cities. Not until then
will the new service over the illinois Cen
trail be inaugnrated
Prospects Are Bright.
Director VIM. Strauss said that the
prospects for the road during the coming
fiscal year were. bright. AS earnings are
going now, the company would show a
wonderful Increase. He regards the Min
neapolis & ST. Louis as most adyanta-
geously situated running through one Of
the richest agricultural sections of the
country. General business conditions
promise>weH during the coming year. and
altogether he believes that the chances
are good for the road making an excellent