The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-09-07

account interest, discount, ex-
change for the year............. 127,oS4.l2
Making a total surplus of......... $751;, 1862
Deducting amount ex-
pende for double
track, Cleveland divi-
sion SZIZ,So9.4o
Anderson yard i'm
600 new coal cars....... s1,247.SO So 1876
Leaves a surplus for the year of. s25, os4.ss
Which added to the income &C
count of the previous year.. 1,l22,64S.D
Makes a balance to be carried
forward of 81, 4OI, Us.lo
The mileage of main track from which
these earnings were derived was the same
as in the previous year.
The Peoria & Eastern Railway, from
Springfield, o., to Peoria. Ill, (S52 miles In
ing expenses, 81, $50, 353. 81; net earnings.
1921. 1889; fixed charges, $f04. 075.0; leaving
a surplus of $417,S7459. as against S340, 656.47
The above lines make a total mileage Of
track on all the system operated and con-
trolled by this company, including double
track and sidingS, OF 3,3OS.36 miles. Inc
total gross earnings of the entire system
have been $50, 465, S36.S1, an increase of ST.
1S9,52S.07; net earnings, $5.941 .15l.66, an In
crease of SIS, 1910 compared with the
previous year.
The number of tons of freight carried one
mile shows an increase of "a per cent. the
revenue lIOll lItlSll OH iCIGdSC VI - Pc
cent; the average receipts per ton per
mile increasing from 5.S3 to $40. The aver
age trainload decreased from 335 to 1913
tons. but the freight train earnings owing
TO the increased rate, were $2OS per mile
as against 1886 last year.
The number of passengers carried one
mile shows an increase OF s per cent, and
the revenue Z per cent; the average rate
Per passenger per mile decreased from 1888
cents 10 1921 cents. The passenger train
earnings per mile were $l.14S2 as against
Sllb5 the previous wear. Inc passenger
train mileage increased 1909 miles.
The increase in freight earnings for the
year was $772. 40; of this increase $3.50
264.2S was due to increased tonnage and
$507, 236.1S to increased rate.
The passenger earnings show an increase
of 1926, 42S.O6.
The company owned at the close of the
year 447 locomotives, 1872 passenger cars,
and 1885 freight cars.
The large expense for maintenance OF
equipment is due, as in the previous year,
to the sums expended for renewals and
repairs and the purchase of new equip
ment; IL engines. 800 freight cars and 2
passenger cars having been purchased or
built and charged to expenses, at a cost OF
S5S2. 424.O4.
pound steel rail nave been laid, replacing
lighter rail on the main line, which in its
turn has been moved to the branch lines
and substituted for the light rail there,
which has been taken up and sold. Three
hundred and thirty-three thousand yards OF
ballast were distributed over 210 miles OF
track. Large sums were expended during
the year upon new frogs and switches, rail
way crossings and interlockfnSS, bridges
and t~restles and station buildings. In every
way the condition of the track has been
maintained and improved.
After charging to expenses the eXtraor-
binary amounts herein alluded to for re-
pairs the cOmpany had a net income OF
s., l2l .S51.44. Interest and rentals show a
slight increase over the previous year, sc
that, after charging out the same, there
was a balance to the credit Of income Of
s.. 204.SSS.65 From this was deducted the
usual > per cent. dividend upon the pre-
ferred stock and two dividends of ~ and
per cent. on the common stock, leaving g
surplus of S725. 262.S0. To this were added
balances of Sundry accounts of $l27, 654.12
making a surplus, after all charges for eX.
penses. interest and dividends. of $S52. 916.9 90
Against this sum 20.13 miles of double trach
on the Cleveland division, the improve
ments in the Anderson yard and 300 freight
cars were charged. The company, aftel
doing this. was able to bring forward the
comfortable surplus of $2S5 64.96.
The Peoria & Eastern Railway, of which
this company owns a majority Of the capl
tai stock. but whose operations are kept
separately, has earned, as will be seen 10y
the attached statements, an increase ii
gross of Sl31,SS7.1S, and in net $50. 29S.12. It;
fixed charges. owing to the refunding Of II.
leaving a balance to the credit of incom,
of $417,S74.59. During the year it also Sc
cured a decision in it's favor in reference tC
the securities in the hands Of the old re
organization committee. alluded to in tn,
last report, and a portion of these wer,
turned over 10 the e, -. &. II st. j.. Rail
way Company in payment of the balanc,
due that company. This, with the credi
from income, has eXtinguiShed entirely tn,
advances of the c., c., c. & st. L. Railway
Company.
One year ago, in writing the report of tn,
company, it was stated that the wheat croI
along its lines was a failure. but the pros
pect of corn was fattering. The revers.
now seems to be the case-the wheat crOI
has been immense and harvested, while tn,
prospect for corn is not good, probably
Grom the best reports that can be had
twO-thirds OF a crop. There is, however
plenty of old corn in the country and. will
the wheat crop and general business. i
would look as though the promise for earn
ings for the coming year was good.
The trains Of the company have been op
Grated with continued safety and success
and the attention and cooperation of tn,
employees is hereby fully recognized.
Southern Pacifc's New quipment
Under orders from E. H. Hartman, tht
regular passenger trains over the Southern
Pacific from end to end win be entirel,
vestibuled within sixty days. Within TN,
same period fifty chair cars will be put int,
| service. Mr.. Hartman has also ordered fOI
the company 1900 nat cars, 500 stock cars
100 fOrty-ton coal cars, 1000 thirty-ton DO,
ears and go furniture cars. a thousand n
the flat cars are TO be built in the shops a