The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-29

forward of OBSERVATION-DISCLOSURES. S,43S, 6S1. 3S
The mileage Of main track from which
these earnings were derived was the same
as in the previous year.
The number of tons OF freight carried one
mile shows an increase of Sc per cent; the
revenue from freight an increase of pa per
cent; the average receipts per ton per mile
decreasing from 6.10 mills TO 592 The aver
age train-oad decreased from 333 TO 332
tons, and the freight train earnings were
$1.97 per mile, as against $2.0S last year.
Inc number or passengers carried one
mile shows increase of 12.7 per cent,
and the revenue 1872 per cent; the average
rate per passenger per mile decreased from
1921 cents to 1873 cents. The passenger train
earnings per mile were S1.1S70, as against
$l.14S2 the previous year. The passenger
train mileage increased 292, 745 miles.
The increase in freight earnings for the
year was $2S0,09402; there was an increase
of $6l1 1867 due to increased tonnage, and
loss of SS31, 44S.65 due to decreased rate
The passenger earnings show an increase
of S5O7, S54.5S there was an increase or S6Zl,-
377.O7 due to increased business and a loss
of S113,522 40 due to decrease in rate
The company has pursued the same pol
icy in previous years of making no
charge to construction for any expendi-
lures upon the property, whether for main
tenance improvement, and consequently
the cost of repairs for maintenance or
equipment and permanent way is large; Il
engines, $50 freight cars and 20 passenger
cars, costing, altogether, $500, 6SoS9 were
charged TO repairs Of equipment, 5l.09 miles
of side track, for the accommodation OF
business and to facilitate the train service,
were built, at cost OF $35i,9SS.O6, ana
charged to expense of maintenance of track
and roadway; $17,724 was also paid during
the year for land at various points on the
line where ii was needed for additional
right of way or terminals, and charged to
expenses.
In addition to these charges there was
paid new freight cars and charged to
income account SD, 20O.71, the same being
part payment on $500 freight cars; S2lS,-
As, for 21.S2 miles of double track, was
also charged to income account and $780,
444.27 for 11.S3 miles OF track in the Llnndale
yard, near Cleveland. Altogether 1924 miles
of track were constructed during the year
and the cost of same taken out of earnings.
One hundred and thirteen miles of eighty
pound steel rails were laid. replacing lighter
rails $50. 600 yards of ballast were distribu-
ted in renewal 7,136 lineal feet of trestles
and wooden structures were replaced by
stone and iron. The entire condition of the
property has been very much Improved DUR
Mention in the last report was made OF
| the purchase Of an interest in the Cincin-
| natl Northern. Since then this purchase
has been completed, and the total cost &c
the treasury of this company for all securf-
| ties of that company so far purchased
! is 81. 091, 954. SO.
! The Peoria & Eastern Railway Company
earned an increase in gross but a decrease
/ in net. The decrease in net is due to large
| expenditures which we have been making
/ upon lndl line III Improving llS equipment
| and removing wooden structures and re.
/ ducing grades. During the year 1856 695. q
| has been charged to new equipment fol
| that line, and Sos 153.07 in changing wooder
structures TO permanent work. 3021 Inca
! feet of trestle having been either filled OIL
/ built of stone and iron.
/ In addition to what has been charged di
! rectly to expenses upon that line there ha:
/ been spent for new equipment and new
property s271, 509.73.
On April l last the interest upon the in
come bonds of that company was paid, anC
there is a balance in its favor that ha:
been brought forward.
At the date of writing this report the out
look for business was never better. There
are large crops Of almost everything along
| the lines of the company and the gros;
earnings are likely TO be large Expenses
however, will be somewhat increased by in
| creased wages and cost of material.
The financial condition of the company
! and its operation for the past year arr
commended to the careful consideration o.
! the stockholders. 1T will be especially en-
| couraging 10 the stockholders to know tina
! in the last ten years the company has in
| creased its gross earnings $404S, 01576 an(
its net earnings 81 267 ,SS201, while the fixeC
| charges in the same period have increased
| only $l46 $50. 80.