The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-03
Increasing Business With the
Globe Increases Business
for Business Men.
SATURDAY, OCT. 8, 1903.
THE GREAT NORTHERN REPORT.

The report of the Great Northern
Railway company, made public this
morning, shows a gratifying growth
in the business of the immense railway
system whose interests are so inti-
mately connected with those of the
entire Northwest. 1t has prospered
in the year just closed, growing with
the increase of settlement and deYel-
opment in it's tributary territory and
with the addition of new avenues of
traffic that have been opened.
A complete summary of the report
appears in our news columns. The
more interesting details are quickly re-
capitulated. There has been no change
in the authorized capital stock of the
Great Northern or any of its proprie
tary companies. There has been de-
crease of S7S5,000 in the bonded debt
OF the st. Paul, Minneapolis & Mani
toba. The freight tonnage of the sys-
per cent, and the freight earnings
$S,5O6,217, or nearly Is per cent. The
increase in passenger earnings was
$1,1S1,114, or nearly 141s per cent. The
general statement of finances shows
that gross earnings increased from
yyJ,0S2, 256 in 1902 to $4O,7S5,646 in
1903; that operating expenses increas-
ed from S17,7S9,1 64 to $2O,e76,S28; and
hnf he f,aaA
from $17,000,000 in round numbers to
nearly $19,25O,O0O.
Along with this favorable financial
showing there is a record of an i'm
mense amount of work done More
than three and a quarter millions were
put into work upon the lines, and a
still larger sum into equipment. Steel
bridges have been built where wood
was formerly used, fills made, and in
the maintenance of road and struc-
lures nearly a million and a half have
been consumed. Extensions and i'm
provements, both at terminal points
and along the lines are under way
now, following comprehensive plans.
Coincident with increased earnings has
gone the improvement of the property.
This has been made possible by the
growth of the volume of traffic over
the system. That it has not been done
at the expense of the shipper appears
from the fact that there were heavy
reductions in freight rates during the
year in Washington, Minnesota, North
and South Dakota. How greatly
freight rates have declined with the
expansion of the property appears by
the following statement from the re-
port:
Had the company collected the
same average rate this year as dur
ing the year ended June 80, 1883, its
freight earnings would have been $40.-
071,93S greater than the sum shown
in this report as freight earnings for
the past year. AS the cost of conduct
ing transportation has constantly in
creased during this period, the above
rate reductions have only been posi-
BILE through the increased volume OF
tonnage hauled, and this increase has
mostly come through the creation and
development of new traffic The in
crease in the volume of purely local
traffic has not provided sufficient adj
ditional earnings to cover the increas-
ed cost Of doing the business"
The showing is one very satisfactory
both to the investor and to the people
This is one of the great railway prop
critics Of the country that are care
fully, conservatively and economically
managed. 1t has been built up upon
the theory that transportation agencies
prosper exactly In proportion to thei,
work in building up the communities