Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1902-01-16
DELAWARE RAILROAD COMPANY.
The Fittietli Annual Meeting of the stock
holders Held Thur SHAY.

The Fittieth Annual Meeting of the Stock
holders Held Thur SHAY.
Special Corresf ondeucc of Gazette and Journal
Bower Jan. .. The seth annual meeting
of the stockholders OF the Delaware Rsilroad
Co. was held here today.
President n, II. kenney transmitted his
annual report, in which he said:
The freight earnings show decrease OF
S56 696.44, while the passenger and mis-
cell6neous earnings increased IN the sum OF
SIS 6S6 80.
The decrease in the freight earnings was
entirely due to the large falling OH in the
fruit traffic, the revenue therefrum being
redaced nearly SlS0,OU0 below that OF the
preceding yepf.
The extraordinary expenditures for the
year amounted to S349, 306.1.
4 The extraordinary fund OF S2U0,UOU, on
/ hand as per your last report, was applied
4 towards these purposes and the balance,
/ Sl4S, S06.Tl, provided for out of the income
| of the current year.
/ The surplus for the year, $50, 0I3.19, was
credited to profit and loss account.
l Nolr property has been maintained in
! excellent condition: Loo tons OF new steel
4 rails, 1916 pairs of splices, ia, 800 pounas
of spikes and 92,US3 crossties having been
put in the track and 1929 miles OF track
having been relaid with new s5-pound steel
rail.
The Philadelphia, Wilmington d Balti
more Railroad Co. having acquired in your
interests the Baltimore d / eiaware Bay and
the Smyrna Il Delaware Bay railroads, sold
these ruads to your company as of June LIST,
1901, tree and clear of all incumbrances, for
the sum of 100000, that price having been
agreed upon between the two companies as
a fair valuation therefor. These lines are
now operated by the Philadelphia, WIZ
miugton 4 Baltimore Railroad Go. under
the same terms and conditions as those upon
which they operate the other lines OF your
system.
Mr.. Kenney feelingly referred to the death
OF William L. Porter. who was director
and the election OF William H, Swift TO fill
the vacancy.
The stockholders reelected Henry F.
henney. John =. Green and Samuel Rea OF
Philadelphia. Il. Tatnal Warner Samuel
Bancroft. Ir., and William H. Swift of
Wilmington, Walter o. Hotfecker of
Smyrna, Manloye Hayes of Dover, William
7. Watson of Milford, Thomas Curry OF
Greenwood. James j. Ross OF Seatord,
Hezekiah Harrington of Harrington, Will
liam l. Records oil Laurel. Murray Eandiver
of Hare de Grace ana Charles i. Mestcott
j OF Baltimore directors for the ensuing Sear.
The directors reelected MIR. kenDey presi-
, dent, MIR. Warner vice-president and Mr..
! Hayes secretary and treasurer. Seventy.
three Thousand, eight hundred and sixty one
shares of stock were voted,
! Dover, Jan. 10. The directors report
! transmitted 10 the stockho ders Of this
} Delaware Railroad CO., at their annua
. meeting here yesterday, contained the
following
Earnings from freight tratfio--l90l,
, Sl.044, 100. 70; 1900, 81, 101, Ash l6; de-
{ crease, $50, 696.4i
t Earnings FROM passenger traffic 1901
s45s, 297. 10; 1900, s444, 422 81; increase
t Sl3, S75. 81.
Earnings from mail, express, rem
: aud miscellaneous traffic-l9Ol. Sl03,
$ 6O4 IS; 1900, 500, 7S3.97 increase
81, s2l.0l.
Gross earnings 1901, 81. 6G6, GEO. a.
1900, Sl,646, ego. "a; decrease, $50,
800. SO.
Cost of maintenance OF way anC
5 structures 1901. 1886, 59S. 49,; 1860
1855, 922. So; decrease, 50, 323.0l.
j Cost OF ma ntenance of equipment
n 1901, 1926, 4S5. 81; 1900, S205, 1876. 76; in
9 crease, s2l, leo. II.
!. Cost OF conducting transportation
t 1901, S606, 1l9 "A; 1900, S576, sos. II; in
9 crease, s29,3l4 %.
] General expenses --190l, s37, II
4 1900, s34, 3SI. IL; increase, S2,64l.
+ Total operating expenses 1901
t 81, l56, 232 As; 1850, 81, l12, 440.97; in
g crease S43, 791. 40.
g Net earnings 1901, $3.50, 427. 80
I 1900, 1884, 2l937 decrease, Ss3, 791. 80
Gross income 1901, S492, 702 "a; 1900
q 1851, 434. OIL; decrease, SIS, 731. II.
d Net inocme--190l, 1929. 300 60; 1900
n $3.50, $40. 70; decrease, s201, 240. 03.
!. Surplus 1901, $50, orb. 49,; 1900
/ 1851, 3l3. %; decrease, s20l, 24O.0
!. To credit of profit and loss -Ocobe
Q 3lst, 1901, S946, 272 co; October 3lst
: 1900, ss9S, 206. Al.