The Washington times., 1903-09-18
Southern Report


The Southern has issued its annual re-
port, for the year ended June 80 The
report shows that the gross earnings
have Increased. s4.S65.s61. or 11.49 per
cent. and net earnings $473 .152. an in
crease OF 4.34 per cent. Total income
increased $SS6. 260. and a balance of So
707. Al is shown for the year From
this. one dividend of 81 500 eco was paid
and an equal amount reserved for the
dividend payable in October. leaving
$707.477 to be carried to the credit of
profit and loss This is a decrease Of
1898. 42O as compared with 1902 The
balance to credit of profit and loss is
now So 49,. SOL
The increase in operating expenses for
the year was SO. s92. 7OS. or 14.37 per cent.
OF these. conducting transportation cost
total increase in gross earnings for the
year. The increased cost of fuel ac-
counted for 20 per cent of these in
creased charges. and S1.377 81. or 80 per
cent. was in cost OF train. station and
terminal expenses, due partly to in
creased wages and to increased cost Of
material.
To the gross earnings of SAP. 1854. O59 for
the year, passenger traffic contributed
$13. $685. 77, an increase OF II. 80 per cent
over 1902. The passenger train earn
ings per mile were 1921. an increase
of S.26 per cent. Freight traffic con-
tributed SOS. OS1 .O34. an increase of 1857
as compared with the previous year.
The freight train earnings per mile of
road were $S.9Ss. an increase of S.57
per cent. The number OF tons carried
totaled 19.19I .4S4, an increase Of 1853
In his report TO the stockholders.
President Samuel Spencer says that the
Increase in income from other sources
of $3.50. 752 is due chiefly 10 dividends on
Mobile and Ohio stock pledged for the
certificates. dividends on Monon stock
and interest on Georgia and Florida
Railway Company and other bonds
owned by tie Southern. The income ac-
count for the year includes the results
of operation OF the South Carolina and
Georgia Extension Railroad Company.
Funded debt increased S9.63S 421 dur
ing the year. the additions including the
joint bonds of 1884. 921. issued with the
Louisville and Nashville on the Monon
purchase. Equipment trust certificates
amounting to 5000, 600 were issued for
S,oCo freight ears. eighty-nine loco
motives and other rolling stock The
total charges TO capital account during
the year for real estate. extensions
second tracks. and equipment were
So. 654,sS4
Among the properties taken over and
investments made during the year were
the Southern Railway Carolina division.
the securities OF the St Johns River Ter
niual Company. owning important
freight terminals in Jacksonville. and
the securities OF the Atlantic. Valdosta
and Western Railway. The road ar
ranged for New Orleans terminals by
the purchase Of the outstanding first
mortgage bonds and capital stock of the
New Orleans Belt and Terminal Com
pany which IS 10 be consolidated with
the New Orleans Terminal Company or
ganized by Frisco interests An inter
est was acquired also in the Terminal
Railroad Association OF st. Louis
Revisions Of grade and curves and i'm
provements in yard facilities were made
throughout the system. the charges to
maintenance OF way and structures
amounting 10 s.. 733, 997, a decrease of IS
80