The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-14
500 RAILWAY
IS PROSPECTING
Altho Operating Expenses Are Heavy
Net Earnings for the Year
Show Increase.
Settlement Along the Line Gives
Promise Of Greater Stability
Of Revenue.
Terminal Facilities Secured in the
Twin Cities-Improvements
in the Equipment.

Stockholders Of the Minneapolis, ST. Paul
& Sault Ste. Marie Railway company are
In receipt Of the report for the year end
ing June 80, 1908, which will be presented
at the annual meeting. Sept. IS. The
pamphlet contains the following resume Of
the years work by President Thomas
Lowry and General Manager E. Penning-
ton:
Gross earnings from -
eS Il sSs;s ::p:s::: yssss
Net earnings ,...... 3,57a,s2o.6s S,s15,ee4oT
Fixed fsxes etc charges. aoa a2a 20 1928 1852 50
Leaving Surplus Of 9s7 IS 1855
The increase in gross earnings was l,oae,.
or about ls per &c Gent Whole + the met net
cent. Several causes contributed to the In
Increased expenses and decreased net results.
fuel supply, which resulted in inferior coal at
higher prices; the material increase In the cost
of other supplies and the demands for increased
compensation from every class OF labor; also the
increased cost of more substantial buildings and
mode modern engines to replace those worn out
wooden bridges with permanent steel structures,
and the fact tn many minor items for improve
ments formerly carried to capital account. but
| now charged direct to operating expenses, were
active factors in the increased cost of opera
tons.
/ the gross earnings compared with 47.3 per cent
the preceding year; Notwithstanding the increase
"~'N sAAN
The standard Of the company's equipment has
addition of the following equipment: Twelve
locomotives, eight sleeping cars, including four
five bnggage one dining
hundred box cars; 200 flat cars; fifty refrigera-
saag and dhe Tass s
equipment.
The meqE sm I'd b hs b
about forty-one miles. The additional line under
Instruction this, year, including an extension
ming north from Gienwood MINI, viii add
about one tenth h., to the present mileage: -,-,.
from Minneapolis to sault ste Marie has been
relaid with heavy rails and eighty-poqnd rails
Mimi, about 145 miles.
Rnr tos es hs at ag PeS pr
| at Minneapolis at cost of $4,000. When these
shall have been fully improved it viii have
| any In the twin cities t..
The grain crop tributary to the company's
year. and at this writing, a crop Of at leas,
equal quantity and quality is practically assured
shon an
! Ing years earnings by the increased purchasing;
power of the producers.
The immigration and settlement along. the
| line Of both east and west divisions continues
satisfactory and cannot but result In greater
In addition the company has terminal trackage
facilities In the twin cities and at the 500 OF
1852 miles. On the debit side Of the ledger the
cost of the. road, acquired lines extensions ant
equipment is placed at s57. 100, 900 So: advances
account new line and equipment pending Issue
stocks and bonds $423. 1872 OF; ma terial and sup
plies, 81 222 377 49, cash and cash assets 3d. 563
25S 81 other accounts 81 POI ~ On the csed red
$37 Jos, O00 bills payable $3.50 O5s.77 accrued
interest on bonds ss DUE July l. $s7osoo; assrue.
du sddsSs fun
$210,9 77.s9; income account So, 73s, 1922.
Earnings by Departments.
The percentage Of expenses to earnings
in 1908 is 51.4 as compared with $751; PEI
cent for 1901 and Alb per cent for 1902
Earnings are classed as follows; Freight
IS, 254, 1854; passenger, $1.524,378. OF
mail. $2O6, 92S.27; express, $116,O9O72; mis-
cellaneous, $135 1881 The earnings pc
mile were s4,943.59. The expenditure
account for construction and ,equipmen
is 81, o91, 5O3.4O less a refund of 1872. IS
The balance to credit Of fund for addi
, lions and betterments, June 80, 1902, wa
1927, 795 81, the appropriation from earn
, ings was 100000, leaving balance o
+ $210,977.S5 after deducting expenditure
, for betterments Of $226,817.92.
Operation of Road.
, The report contains an immense amour
of interesting data concerning the opera
!, ton of the road. The total train mile
a age was 1904 1877; tons Of freight carried
43OS94; freight earnings a mile, $2.2s
passengers carried earning revenue, u.s.
498 passenger earnings a train mile
s1224S; gross earnings mile, $4,943.5!
S operating expenses mile, s2,540.99.