The Savannah morning news., 1901-07-15
WHAT RAILROADS EARNED.
MANI OF EARNINGS AND EX-
pENsES FOR A YEAR.

.,ta commerce Commissi0n's
.+ for Fiscal Year Ending
On. 1900, showing Railway
stotistics-GrOss Earnings were
.044,S14, which Was an In
of BIB. 43I .696-operating
,.,cnses Were 1901 .42S,511, an In
oose of S1O4 ,459.o12.
c.otistics of the railways in the Uni
scales for the year ending June
-. ,ooo have been prepared by the In
et.to Commerce Commission. That
..o, entertaining to earnings and
Pzos as set forth in an abstract
- the report. is as follows;
ror the wear ending June 80, 1900, the
earnings from the operation of
n,i,vavs in the United States, COW
an operated mileage of 192,556.O3
.,i,ss were $1,4S7O44,S14, being $17S,-
,aleqe more than for the preceding fis-
cal year.
The operating expenses were $9Ol'42S'-
80 tho increase in this item being
stol4 5o512. The details of gross earn
' we're as follows: Passenger rev.
anne 1928. 715, 6S9-increase as compared
,,,itb the preceding year 1872, 602, SAC; mail
co. -52 4-4-increase $1,753, 463; express
COO i1f 15O-increase $1,660,000; other
earnings from passenger service So
&c, Oo2-increase $473,659; freight reve-
ma 81 O49. 256. 323-increase 135,519,-
from freight ser
o s2 245 9l2-decrease 1915, 1892; other
oarnines from operation, including I'M
,Iaesifed items, 36,S97, 294-increase
a. c4 556 Gross earning from opera
lion per mile of line was $117 more than
FOR the year ending June 80, 1899, being
$I722. A., u
,.o,.s for the wear under review were
distributed as follows: Maintenance of
,rav and structures, $21l ,22O,52l, IN
crease $50 500 us; maintenance of equip
ment S1S1, 173,SS0, increase 3O,254, 63l;
conducting transportation $529, 1926,
increase. $42956, 719; general expenses,
go 32S. 765. increase $651, 1852; undistribut-
ed $3.50. Ol9 The operating expenses
for the wear in question were $4,993 per
mile of line. or $423 more than for the
rrevious year An analysis of operat-
ing expenses for the year ending June
90 1900, according to the fifty three ac-
counts embraced in the official classl-
fcatiOn. appears in the report, with
statement of the percentage of each
item of the classified operating eXpen-
SEES for the years 1895 to 1900, inclusive.
The income from operation, or
amount of gross earnings remaining
after the deduction of operating ex-
penses, generally designated as net
earnings. was $525, 616303, an increase
as compared with the preceding year
of sos 975 1874. The average amount per
mile of line for the year ending June 80,
1900. was 81, 729 and for 1899, 81, 435 The
amount of income received from
sources other than operation was $751;
SS5071 This amount embraces the
following items: Income from lease of
road $99,429,619 dividends on stocks
owned, $24 ago. 253; interest on bonds
owned, $11, S3S974; miscellaneous in
come $27.131,225. The total income of
the railways, $6SS, sol, 374-that is, the
income from operation increased by the
income from other sources-is the item
from which fixed charges and analog-
Gus items are deducted in order to
reach the amount available for divi-
bends. The total of these deductions
was $461 240,927, leaving 1927, 260,44T as
the net income for the year available
for dividends or surplus.
The amount of dividends declared
during the year Gncluding 4.542 other
payments from net income) was $780,,
6O2,54, leaving as the surplus from the
operations of the year $S7 ,657 1888, the
corresponding surplus for the year end
ing June 30, 1899, having been $50, 064,-
ST.
The deductions from income, $461,-
24O,927, already mentioned. comprised
following items: Salaries and main
tenance of organization $500, 102; inter
est accrued on funded debt, $252, 949, 616
interest on current liabilities, $4,912,-
@2; rents paid for lease of road, $101,
S5l,319; taxes, $4S,332,2 73; permanent
count $255O0, 035; other deductions, $27,-
improvements charged to income ac-
O74G9O
The report will contain a summary of
taxes paid by railways, the gross
amount and the amount per mile of
line being given for each state. From
thls 1t appears that, disregarding taxes
PAID TO the United States government
under the recent internal revenue act
ana small amounts not apportioned by
states, there occurred against the rail
ways of the United States during the
HScaI year in question taxes to the
amount of $47, 415, 4S3, or an average tax
u $254iS per miles of line.
In the consideration of the forging
nsures OF pertaining to income and ex-
pehdlture it should be held in mind
uiat annual reports of two kinds arc
nldue to the commission by railway
eeo,l1panles. Operating reports are
nleu by such companies as main
e eIlH tuH operating accounts, and
financial reports by such com
panleS as have leased their
moperty to others for operation, their
U0NH income, apart from that derived
I'm Investments, being the annual
i ia OF contingent rental paid by their
leNSees, from which they make their
oNH disbursements. In consequence,
tain items of income and expendi-
49, 49, are necessarily duplicated in COM
ri,s, summaries which are COM
80 - from reports of both classes. The
o ana extent of such Implications
oi oearly indicated by the statisti-
ca ali' MS report contains also an in
81 account of the railways of United
as ,@,eS' considered as a system. The
49,, IN this account are such as
GU De presented were the railways
,,..e,u ny the government-oper
allIS' and expenses remaining the
Ihey eliminate tntarcornorat