Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-09-18
One of the Best Years in Its
History.
SOUTHERN R, R. GAINS
REPORTS INCREASE IN EARNINGS
OF $4ee, sos.
Income Is $3.50, $50 Better - Gross
Earnings Last Year Amount
ed to $42, 1854, o59.

The report of the Southern railway for
the fiscal year ended June 30 shows sat
isfactory increase in gross earnings. which
amounted to 42.3o4. 900. or S4.G41 81 more
than those of the previous year. Operating
expenses on account Of higher cost OF fuel.
higher wages and inadequacy of rolling
stock and motive power to handle the in
creased business. increased In somewhat
greater proportion. The net earnings were
s11.364919, an increase OF $499. sos Income
from other sources Increased also, making
the total income $12, SIC ISL, an increase OF
$3.50 go.
After interest, rentals and other deduc-
tons from income including an appropria-
ton of s135.OO0 for betterments not made
the year before, the balance available for
dividends was $3,7O7. AT. an increase of
s1o6.5I9. Out of this balance one dividend
of 2la per cent on the preferred stock was
paid in April and a reservation was made
for similar dividend to be paid in October.
1903. the two amounting to $1,000. 900. The
balance to profit and loss surplus was
s7o7,477. On account of dividend payments
began during the year this balance shows
a decrease of 81. 1893, 40.
Increased Expenses.
The increased expenses include: Mainten-
ance of equipment. $L247. 4O1. or % per cent;
in conducting transportation. s2,621. 913, or
1925 per cent, and in general expenses and
taxes, $57 O65. or &c per cent.
President Samuel Spencer says:
THE increase of s., gu. 9l3 81 in conduct
ing transportation consumed about 60 per
cent of the total increase in gross earnings
for the year. OF this increase $716,57S. or
about ~ per cent. was in cost of fuel, and
Sl,3I73l1 or about So per cent. was In cost
of train. station and terminal expenses. due
partially to increased wages, and to higher
cost of materials.
The price of coal was abnormally high
throughout the year. and Transportation in
general. especially on the lines of heavy
tonnage and large passenger movement.
%as performed at disadvantage on account
OF insuftciency of motive power and the in
adequacy of track. yard and terminal facili-
ties at many important points. Notwith-
standing these conditions with an average
of Al per cent more motive power and
per cent more freight cars the tons hauled
increased 1888 per cent. and the ton-miIes
increased over 10 per cent, as compared
with the year preceding"
The average receipts pc. ton per mile
were $50 mills. an increase OF 1JO per cent
The average number of tons per train shows
slight decrease. while the average number
of tons in each loaded car increased tndi-
eating plainly the lack of equipment Of
which President Samuel Spencers report
complains.
improvements Since 1895.
An interesting tdDle OF comparisons with
the business done and results achieved in
1895 is included 1t shows that In that time
the mileage operated increased from 4.1a9
miles to 1928 miles. or more than II per
cent. Gross revenue increased 141 per
cent and fixed charges 1913 per cent. Gross
revenue per mile of road Increased 43 per
cent and net revenue per mile BOT per cent
Surplus income over fixed charges increased
3l3 per cent. The average receipts per ton
per mile decreased 3-5 per cent, following
the general downward movement of freight
rates in this country during the last decade
The charges to maintenance of way and
structure We're S.. 1873, 997 a decrease Of $685.
673. This Item includes the repair of storm
and flood damage. The charges to mainte-
nance of equipment were s6916. S23, an in
crease of s12i7 .401. The number of loco
motives on hand was increased by So The
average hauling capacity of locomotives
increased 81 per cent Passenger equip
ment was increased by AZ cars. The net
additions of freight cars of all classes was
-.o93 or 40 per cent. OF this equipment
10 locomotives and 1,23s cars, costing 49,
''4ssl. We're charged to capital account
Income Account
The condensed income account is as fol-