The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-01
SHOWS GROWTH
OF THE WESTERN
Annual Report of the Utah Road
is Issued.
RECEIPTS GAIg8.79 PER CENT
IMPROVEMENTS HEAVILY IN
CREASE EXPENSES.

increasing prosperity of Utah is con-
tanned in the annual report of the Rio
Grande Western railroad. which has
Just been received in salt Lake. II he
gross income of the company for the
fiscal year ending June So 1901. shows
an increase cf $423, 7O9.67 over the pre-
vious year, o.. SO pei cent The heavy
expenditures for new equipment and
for improving the physical condition
OF the road generally, including he
practical rebuilding Of large portions
Of the main line, brought up the Oper-
ating expense, so that the net earnings
show a decrease, the amount of the
decrease being practically what has
gone back into the road. Despite all
these improvements, the road paid a
dividend of per cent. and has a com
Portable surplus.
Under date Of Nov. 1S,19O1, President
j r, Jeffery summarize sthe showing
IN the report as follows
The income of the company during
the fiscal year ended June 80, 1901. in
Guiding 50,400.3I interest on loans, etc,
sTas S4,S57 ,60L29, an increase Of S423,-
f09.67, compared with the previous
year.
The gross receipts from operation
were $780,, 206.9S, being an increase of
1886 sos. Il. The operating expenses |
were 1928, 23S,75, an increase of $780,
229.66. The net earnings from opera
ton were 1883, $685. being S11O. 525 95 /
less than for the previous fiscal year.
The Increase in gross receipts from
operation was $40 per cent; in expenses /
1858 per cent, and he decrease in net 7
earnings Gle per cent.
After providing for interest on
funded debt, taxes, rentals of leased
lines, etc, and four quarterly divi-
dends Of IL per cent each upon the
preferred capital stock, there remained
a surplus of credit to profit and loss
from the years operations Of $780,,
915.47
The charges direct TO profit and loss
during the year were as follows.
Five per cent dividend on common
capital stock, paid Aug. 81, 1900, $780,
geo.
"Betterments. $4,000.
Insurance fund, S25 GOO.
Contribution to sufferers from the
explosion in Winter Quarters mine of /
Pleasant Valley Coal company, $4,000 /
Settlement of sundry items accru- |
ing prior to July 1, 1900 S27, 1857.
Total, 1921, 1887.
Making a net decrease in profit and |
loss account of S24l, 1920.
Revenue and Expenditures.
Freight revenues were S3,648, 23S. "a, /
ueing an increase Of $24S, 566OS over the /
previous year. Passenger revenues /
We're S1,066, 3S3.53, an increase Of $685. /
1926. Express, mails and miscellane- /
Gus were $197,5S4S1, an increase Of S14- !
2S4.67. The operation expenses were .
1928. 238.15, an increase of $507, 229.s6.
The expenditures for maintenance Of .
way and structures were about $4,000 .
more than thepr evious year of which +
S113600 was in renewals Of rails and 4
ties.
The funded debt at the close Of the /
year was S27, 49, 600 out of a total issue /
thus far authorized of $2S,200,000, of I,
which SIS, 600 are first trust mort /
gage + per cent bonds, and a12,216,60O I
first consolidated mortgage 4 pei cent /
bonds; S10,000,000 of the first cOlsOli- /
dated mortgage bonds have been sold /
for the purpose Of acquiring securities /
OF other companies, for new equipment /
and for expenditures in extensions and /
betterments $2,276,600 of the first con- /
soldated mortgage bonds remain in the /
treasury of the company.
Utah Fuel Purchase.
There We're issued during the year /
S-,291, 500 of first consolidated mortgage /
bonds, of which S60OO,0OO were to ac- I
Guire the capital stock of the Utah 4
Fuel company (S10,0 000-fuu issue), /
81 000, 600 to provide for expenditures i
for new equipment and betterments, /
and S291, 500 for construction of the \
following extensions:
$50 miles, Belnap 10 Marys-
vale, Sewer railway ..,... Sis, 400 /
SIS miles, Twelfth South,
street line, Salt Lake. $1,000 F.
40 miles Potfpr'S (TraESt0ne
quarry spur .............. 4S,400 /
1459 miles ..-....-..............S2 1921, 500 /
For Improvements and additions to 4
the property there were expended dur
ing the year on account of bridges,
buildings. fences, spurs, sidings. water +
plants, rights Of way, etc, S3l0,6T03I. /
and for new equipment S2S0, 25331,
making a total of $3.50 923.57. which was
charged to capit-I account
During the year 1,546 tons of new
75-pound steel rails were laid, releas-
ing s5-pound rails. which were used /
in replacing lighter rails on branches
where they were Inadequate for traf-
fc.
The equipment was increased dur
ing the year by the addition of eleven
locomotives. fifty steel coal cars with
hopper bottoms, nine passenger cars,
enc dining car, two cabOose cars and
one construction car, all of which we're !.
charged to capital account, except 1
thirteen of the steel coal cars. which
were paid for out of the construction
fund Of the Carbon County Railway
company. the securities Of which are
owned by this company.
There have been received and put |
into service. in addition to the above:
Twenty locomotives, 100 steel fiat cars
IO0 box cars. 100 steel coal cars zoe
steel underframe box cars, fifty stock
cars. one dining car. two baggage cars
and ffty-one ballast cars. payment for
which has been made since the close
of the fiscal year.
The mileage Of road operated on
June 80, 1901, was 66Z.26 miles, exciu-
sive OF S.35 miles of narrow gauge tram
ways in disuse, being an increase over
the previous year of 5.43 miles.
There were securities of controlled
railways and OF the Western Express
company in the treasury on June 80,
1901, amounting to S1.3S5.500 at par
value but appearing on the books at
1921 $3.50. There are also bonds and
stocks of branch lines and OF the Utah
Fuel company amounting TO SIG. 423 O00
at par, deposited with the Morton Trust
company, trustee. as collateral for the
first consolidated mortgage bonds"
Expenditures in Utah.
OF the nearly three and a quarter
millions charged up TO operating ex-
penses. the greater part was spent in
the state of Utah, approximately
fourth being disbursed in salaries of
employees, exclusive of agents. OPERA
tors and section men. total Of s749.-
z42.0E which does not include the sala-
ries of the classes of employees mem
tiOned is made up as follows:
al l