The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-18
500 HAD GOOD YEAR
FLYING RESULTS AND PROM
Using CONDITIONS
OLD OFFICERS REFLECTED
Many New Lines Projected and New
Equipment observation-disclosures
Expenditures for Con-
StructiOn.

The stockholders of the Minneapolis,
St. Paul & Sault Ste. railway held Their
annual meeting at the offices of the COM
pany in Minneapolis yesterday.
Only one change was made in the board
of directors, General Manager E. Pen
ningtOn succeeding w. H. Bradley. The
board now stands as follows: Thomas
Lowry, John Martin. w D. Washburn
J. S. Pinsbury, B. Dean, f. Pennington
ana r. B. Angus
The directors meeting for the purpose
of electing officers for the ensuing year
was postponed until Friday morning. No
changes are probable in the official roster
of the company.
me annual report for the fiscal year
ending June so, 1901. shows the company
to be in very gratifying condition, the
earnings making a splendid exhibit con-
Sldoring the fact that the crop failure
In the Northwest last year materially re-
duced the earning power of >le COM
pany. the loss occasionod by the grain
shortage being estimated at fully $780,
O00.
Gross earnings are reported at 81, 537.-
Z6.ll; operating expenses, 50. So, 337. 16; net
earnings, $l,972, $685.; fixed changes, etc,
Sl645, %; leaving a surplus of 1927, S73. %.
The gross earnings per mile of road
were So, i2.O5, compared with 81 600 80 and
the operating expenses S1,95405, COM
pared with $1,9S639 per mile of road the
previous year. The average rate per ton
mile was Gil mills, compared with 6.5S
mills the previous year The reduction
is due to the reduction of grain tonnage;
otherwise the rate per ton per mile would
have shown an increase
The operating expenses were 561 per
cent of the gross earnings. compared
with 1876 per cent the preceCung year,
56.6 per cent in 1899 and 541 per cent in
1888. More economical handling of freight
was made possible by improved motive
power and road bed, the average num-
Der Of freight cars per train being 81 81
compared with 1886 the previous year.
The average tons of freight per train was
Sl4.49 compared with 3O1.24 the previous
year. The average tons of freight per
car was 1924, compared with 1913 the
previous year.
An increase of 496 miles is shown in
the roads mileage, which was occasioned
by the purchase of the Rice Lake. Dali
las & Menominee railway, Cameron to
Rice Lake, Wis, 6.63 miles, and the con-
structlon of line from Barron to Ridge
land, Wis, 1888 miles The total
mileage under operation June 50 was
1901 80 miles
The completion of the company's new
terminals last year at a cost of S356. IA. go
which includes the cost of the land has
ehected a saving of over $4,000 per year
IN rentals in addition to providing inn
proved facilities.
Among the improvements of the year
was the replacing of 34.6S miles of sixty
pound rails with eighty-pound rails:
NIFTY miles of road were ballasted with
gravel the cost of the same being charged
TO operating expenses; three steel bridges
were built TO replace wooden structures
the original cost of the wooden bridges
$50, SS9.G5, being charged to operating ex-
penses. Two additional bridges are being
built and will be completed this fall.
Inc companys equipment was increased
by the purchase of three consolidated and
one decapod locomotives and 399 box cars
Consolidated bonds to the number Of
LII were sold and the proceeds are be-
ing used in the construction of 1892 miles
OF road in North and South Dakota, and
Wisconsin, all of which will be completed
by October 80, 1901
The increased mileage and the promise
OF heavy tonnage incident to the move
ment of the bountiful grain crop along
the company's lines has made it nee
essary to increase the rolling stock by
800 freight cars and four consolidated
locomotives of the latest type, all of
which will be delivered this fan.
Inc company'S road bed, buildings and
equipments are all in excellent condition.
The following tables indicate the tinan-
cial condition of the company in detail:
Gross Earnings and Expenses
Passenger ............. SS75, 1887
Freight ................ :, 29S, 651 IS
Express, mail and
miscellaneous ...... 342, 1861
--$4, ST. ,075 81
Operating Expenses
Maintenance of way
and structures ... $500. 494 70
Maintenance of equip
ment ................. 476,24S.11
Conducting transpor-
tation ................ l ,351. S6S. 50
General expenses 80. lis, SO
--$2, So, 1897 .1G
Net earnings from