The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-15
CAN. PAC ANNUAL
Report Of the Great Canadian sys-
TEN Shows an Unprecedentedly q
Prosperous Year. y
Close Analysis Of the Balance Sheet
Shows $50, 600, 600 Of
Quick Assets.
sneoial to The Journal.

Special to The Journal.
New York, Sept. 15.-The Canadian Pa
cific this year issues an annual report In
a slightly different. form from the report
being as complete as the statements given
out by the great American trunk lines
1t gives fair idea OF tha way the COM
pany conducted its business, but leaves
much to be imagined.
The income account shows surplus OF
$9,221,461 before the payment Of dividends.
This Is considered extremely satisfactory
and shows the most prosperous year the
company has ever experienced
| A close study Of the condensed balance
sheet shows some rather remarkable
changes. The assets side Of the sheet
contains the most remarkable Of these.
The cost OF railway. and equipment has
advanced from $23O,072,641 to $242, 1853, 210,
! showing that the property is valued now
nearly $13,000,000 more than year ago
This is due largely to the great additions
to equipment and improvements on the
property made during the year, out Of
the proceeds Of the new stock sold last
year. The next item; In the balance sheet
Is Pacific Coast steamships, $956,15O. This
did not appear in last years balance
Esheet at all. It Is explained further on
Eby a list OF thirteen ships, none OF which
were mentioned in last years report. The
next item is Atlantic, steamships prac-
tically s7,Oo0,ooo, which represents the
icost of purchasing the Elder Dempster
fleet. The item of; acquired securities has
Increased 1000, 900, which represents the
cost OF the purchase Of Calgary & Edmon-
ton and Kingston 81 Pembroke railways.
Deferred payments shave, increased from
! 81 100000 to $4,000, 900. The value of the
/ hotels, etc, has: advanced $500. 900. Adj
i vances to new lines under construction
has Increased from $2,154,437 to So, 412, 903
The amount Of cash in hand decreased
from $15,227,681. to s12,172.612, owing to
the fact that the company paid for the
treasury: This amount, practically $780,
\ 900, is to be capitalized, so that the cash
account is really over $19, 900, 900.
1 This list Of assets bears out exactly
the statement published some time ago,
that the annual report would show Ca
madam Pacific peculiarly strong in quick
4 assets. The statement sniade was that
y Canadian Pacif1es quick assets would to-
|tal about s35, 900, 900. The actual figures
NOW published show that. combined cash,
deferred payments and advances total
i $85, 800, 600 i1ia round sriufnbers, eIt was
lpotnted Y:out; at. the same time that the
land assets were worth, $50. 100000 The
Icompany's statement shows that it now
owns 12,081, 776 acres In Manitoba and the
territories and 1859, 49, acres ins British
Columbia, valued at s3ss7 an acre, total
|, ling. practically $50, SOC; 900. -
TX The liabilities side OF the balance sheet
shows. that the capital stock has beer
increased from $4,000, 600 to $S4 500, 900
that the 4 per cent consolidated debenture
;sEstock has increased from SEA, 002,415 te
1857, 252, 1852; that the land grant bonds have
decreased, from 81 ,0Oo, 900. to s14,5o0, 900
this l change represelhnting the amount .ol
; land grant bonds retired. These are the
only changes in the capitalization. Small
tchanges are noted in the, amount Of cur.
rent account payable. fash. subsidies, etc.
and the: proceeds OF land sales show ar
increase Of over $4,000, 6o0 Representing
the total proceeds of GLAND asales during
1.-The year. en &c t-oyss g
81. The Tragic statistfcs sho1,r snlaSadid Ii.