Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1902-11-06

Surplus .............. sl,ss6N sSl, 5000
The report continues as follows:-
For purposes of comparison. the result
of operations for the fiscal years ended
June 80, 1901, and June 30, 1902. coptains
the entire mileage of your road, 4l6.33
miles, except that during the year ended
June 30, 1901, the Rutland-C Canadian rail-
road, Al miles, was not open for business
until January l of that year,
The increase In gross earnings. s20l ,245,-
70, after making allowance for the some
what greater mileage in part of the pres
ent iiscal year, is gratifying.
If this increase, freight traffic contri-
luted s6l, 707.3s. due principally to a long
or haul
The increase in passenger traffic. 1926
1886, is due to a heavier local business,
and the establishment of a through line to
Montreal.
The expenses OF operation were sl,371.-
~. 70, or 81. % per cent Of gross earnings,
Hud were ll2,545.1 greater than last year..
Tho increase in operating expenses is ac-
counted for as follows:
In maintenance Of way and structures,
:i0.3l7.7 s, due to greater cost of labor and
material. the unusual expenditure for re-
moving snow, etc, the heavy cost In mat
crial and labor employed in renewals Of
ties necessary for tho safety and econo-
mical operation of the road, and the addi-
tional mileage of the Rutland-Canadian
extension.
In conducting transportation, SoS, 5SS, OIL,
due to additional train mileage and track
age rights between Noyan Junction and
Montreal, 53 miles.
In general expenses, s22, TAI. 81, due to the
organization and legal expenses incident
to the consolidation of the various rail-
roads taken into the system.
In maintenance of equipment there Is
a decrease Of 81, S13. so. due to the extraor-
binary expenditures of the previous year
for automatic couplers and air brakes,
which were practically finished last year.
and to the fact that the new cars added
to the equipment in the present year, ma
turally required less repairs.
The entire ca pital stock of the Ogdens-
burg Jermina company. $500 900, has been
acquired. The company owned
nm elevator capacity 100000 bushelsJ,
machinery and real estate, including
! docks, at O~gdensburg, n. Y.
The property of the Terminal company
was subject to a mortgage on $4,000 the
I. tcrest on which at 4 per cent. has been
rIiganteed by the Rutland railroad com
ldnV. BY this transaction the control of
tho Terminal company and all of its pro-
l-rty, subject to the mortgage, has pass
td into the hands of your company. There
vas earned from this property during the
fiscal year, after of operating
expenses, taxes and interest, a surplus of
50, 100. y, applicable to a sinking fund for
the payment of the mortgage debt, which
is to be retired at the rate of $4,000 per
Hnnum.
on june 10, 1901, the Chatham and Lob
anon Valley railroad was acquired by the
purchase Of all of Its capital stock. $1,000
600, and the entire issue Of its first mort
gage bonds, $500, 900, which were placed in
the treasury Of your company. This road
connects at Chatham with the Boston and
Albany railroad and the Harlem division
of the New York Central and Hudson
River railroad. 1t is believed that the ad-
yantages derived by these connections
Will more than Justify in added revenue
to your company, the expenditure of the
necessary amount to bring the physical
condition of the road up to standard re-
quirements.
Arrangements were made, effective No
Vember 3, 1901, under which the Rutland
railroad passenger trains run through to
Montreal over the Quebec Southern rail
way from Noyan Junction to Quebec
Southern Junction, and thence to Mon
treal via. the Canadian Pacific railway.
a trackage agreement has also been en-
tered into with the Boston and Maine
Railroad company, and the New York
Central and Hudson River Railroad com
pany now outstanding is $lS,, 400, and con
Rutland railroad may he run through to
Troy and Albany. thereby establishing a
through line from those points to Mon
treal. These agreements became effec'
tive June %, 1902, and 1t Is believed thai
the result will be a largely increased
through passenger traffic for your com
pany.
The common capital stock of your com
pany now outstanding is $ll9, 40, and con
sists Of 1894 shares of the par value of $40
each.
The total preferred capital stock now
Issued and outstanding is 81, 057 600. con-
slsting of 90,576 shares of the par value
OF 500 each.
During the year preferred capital stock
or your company has been issued and
disposed OF as follows:
IN the treasury July /, 1901. ~. 81, 800 shares
Issued January /, 1902. to re-
tire capital stock, 81, 900, 900,
OF the Chatham and Leba.