The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-10-18

ucts Reduced-Settlement of Lands
Continues Great.
The thirteenth annual report Of the
Great Northern railroad was issued by
President J. j. Hill yesterday. The
financial statement shows large in
creases in all departments of the bust
ness. while the operating expenses have
not increased in proportion to the in
come. The report is interesting in
that it is the first annual statement
issued since the formation of the
Northern Securities company. The
following statement, summarizing the
reports of all the proprietary COM
panies and that of the Great North
ern system, shows the total earnings
and expenditures:
Gross earnings .............$ 9S S5S, 513. SO
Operating expenses .......... l9,60l,5I AZ
SIS. 256 942. OS
Taxes ........ .............. 81, PIP, TAG. q
Income from operation. ST., 1854, 1876 81
Miscellaneous income. ....... 2,O31, I5O. 70
Total net income ........ SIC, OLE, SAC. Is
The gross earnings this year for
the system, exclusive of the Spo-
kane Falls & Northern, which is OPP
Grated separately, were $36,032,2 56.06
this year, against $2S,350,6 S9.75; the
operating expenses were this year ST.
7S9, 1924, against $15,S43, 421.06 for last
year; the net earnings were $1S,243,
091.82 this year, and last year $12,507,-
26S69; taxes this year were $1,239,-
693.97, while last year they were $685.
642.31. The income from operation was
this year $1,000, 1884, and last year
$11,537 62S.3S. The operating expenses
were 1887 per cent Of the earnings this
year, against 55.SS per cent last year.
The operating expenses and taxes were
1881 per cent for 1902, while for 1901
the percentage was $3.50.
The traffic earnings per mile of road
this year were $6,S64.11, against
$5,449.64 last year. The operating ex-
penses per mile of road did not in
crease in proportion to the earnings.
$3,045.46. The net earnings per mile of
road increased materially, $3,475.29,
against $2,404.1S. The average number
of miles of road under operation dur
ing the year ending June 80, 1902, was
5,249.37 while last year the number
was 5,202.31.
Wheat Freishts Increase.
Concerning the business of the fiscal
year, President Hill makes this state
ment:
1.-The tonnage of revenue freight han
tons, or 33.363 per cent; freight earnings
increased, SIS, 785, 363. %, or 2110S per cent
The number of bushels of wheat hauled
East increased 26,9S7, 682 bushels, equal to
5000 tons. Including this increase,
however, there were 1857, 500 less bushels
of wheat hauled this year than during the
year ended June 3Oth. 1900, and the earn
ings from east-bound wheat traffic this
year were $542, 68526 less than during that
period.
There was an increase of 1881 gross
tons in the amount of iron ore hauled on
the Eastern division
The increase in freight traffic aside
from wheat and iron ore amounted to
1O70,762 tons, and in the earnings to
S2,5S7, S9450. This increase was in general
business and over the entire system, ex-
cept on the Montana Central railway,
where there was a falling off in the vol
ume of freight traffic and earnings on ac-
count of the practical suspension of the
mining and manufacturing of copper in
Montana for nearly four months. On &C
count OF the rapid settlement and develop
ment of the country through which the
system runs. there has been a large in
crease in shipments of merchandise and
supplies required by the smaller towns.
This is shown by the fact that while the
as above given, the ton mileage increased
2S.547 per cent. Or the average dis
lance. each ton was hauled last year was
$50 miles, while this year it was 241 miles.
This is still further reflected in the COM
paratively small reduction in the average
revenue per ton per mile of .012 cents,
age hauled this year to about $3.50, 000
That is, there has been a greater in
crease in the volume. of the higher class
freight than in the lower classes. Eff
fective Jan. 25, 1902, the rates on all
classes of merchandise between stations
In Minnesota, North Dakota and South
Dakota were reduced an average of about
15 per cent.
Rates Are Reduced.
at is the policy of the company to re-
duce freight rates as rapidly as the vol
ume of traffic and earnings will justify
and to this end the rates on grain, grain
products, potatoes, onions and hay, from
stations in the state of Washington to
Puget Sound were reduced during August,
1902, an average of 10 per cent. Effective
Aug. 49, 1902, the rates on grain and
grain products from stations in Minnesota,
North Dakota and South Dakota to east
ern terminals were reduced an average of
about 10 per cent.
while the ton mileage Of revenue
freight increased 27.547 per cent, the mile
age of loaded freight cars increased but
21.2035 per cent, and the mileage of freight
hauling trains but 1925 per cent, result
Ing in an increase of 36.301 tons (9.5205
per cent?, in the average number of rev.
enue tons per freight train mile, making
the average train load of revenue freight
al, 595 tons.
1.-THE earnings of passenger trains in
creased 1859, 091.0S, or 295468 per cent,
of which 81, 752, S40;51 came from passen-
ger fares. $29, 272.65 from sleeping cars,
$S220.7S from transportation Of mails,
$50. 81 from transportation Of express,
and the balance from miscellaneous
sources.
although there has been no increase
in passenger rates during the year, the
average revenue per passenger per mile
has increased .037 cents, or 1.6157 per cent,