The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-29

The annual report of the Lake Shore &
Michigan Southern, just issued, shows a
total length of road operated of 1.4l1.16
miles. OF this S60.5 miles IS track owned
by the l.. S. & NJ. S. Company. 231.35 miles
embraced in seven proprietary roads and
1880 in five leased lines. Second. third and
sidetracks bring the total trackage up to
2,732.66 miles, all laid with steel except $50
miles. Nothing has been charged to con-
struction or equipment account since 1883.
and the capital stock has not been in
creased since 1871. The latter stands at
$4,000. 600, of which S533,5OO, representing
1886 shares, is guaranteed 10 per cent. stock
and the remainder ommon.
During the year 81. 1896. 600 of the Z per cent.
bonds embraced in the consolidated first
mortgage were retired. BY the operations
of the refunding plan thus far s36, sol, 900 of
various issues of Z per cents. have been re-
tired. and while the face of outstanding
bonds has been increased Sc, 209. 900 a reduc-
ton is made in annual interest charge of
S1.o6l,97O. The total earnings for 1900 were
SIG, 466. 1889 against s23. 613, Gas. s2 for the pre-
ceding year. Operating expenses and taxes
aggregated ST., 1907, 1924. against s15, S32, IA. 81.
Per cent. of expenses to earnings in 1900
was $40, against 67.05 in 1899. The sur
plus earnings were equal to 3d. As per share
of stock. or 6 1858. 40. 80. OF this 50, 462. $50
was paid to stockholders in a Z per cent.
dividend and S.l95, 1850 carried to credit
of income account. OF the years earnings
1911 27 were derived from freight trafic.
$5,3S 7S7 from passengers and 81, 766. 300 from
mails, express etc. The totals show an
increase in earnings over the previous year
OF S,s52,56S, or 12.08 per cent. Number Of
tons of freight moved 1s.S4S.4 AIS. an increase
of l,I6O,1sl, or so per cent. Number of
passengers carried 1854, 6S4. an increase OF
800, l79. or 6.4S per cent. The ton mileage
revenue freight increased sos per cent, the
mileage of loaded cars increased SOC per
cent. and the mileage OF freight trains de-
train mile was 454.7 tons, increase Gal per
cent. The average rate per ton mile was
900 cent, increase ~ per cent. Passen-
ger traffic shows ar increase in passenger
mileage of 1874 per cent. and in train mile
age Az per cent. The rate per passenger
mile was 2.03 cents. decrease 240 per cent.
Operating expenses in 1900 included
charges for extraordinary expenditures as
follows: New equipment. $2,267, SOS; new
ments. S11 .9lS. Exclusive of this extra ex-
penditure the increased outlay for mainte-
nance of way and structures over the
for maintenance of equipment decreased
$l21. sos. The increased cost OF transporta-
ton Gi54. 4O4) was due to the larger volume
OF traffic moved and the increased cost Of
fuel.
During the year the company bought
stock in the c.. c., c. q St. J.. and the
Lake Erie Il Western to the amount Of
was paid out of the surplus earnings OF
previous years.
The report says that during the current
year q large outlay for new work, includ-
Ing bridges. depots, shops, second track
and separation of grades, Will be neces-
sary. In conclusion 1t Is stated that the
business Of the past year exceeded that Of
any wear in the lines history, and the out
look for continued heavy business is good.