The Birmingham age-herald., 1903-08-04
RAILROAD WORLD

The Wall Street Journal, in an extended article on the seaboard Air Line. says: Vice President and General Manager Barr. who has studied the subject very closely. estimates that the Atlanta-Bir- mingham division should earn the first year after completion S1,1S1. OoO and that the construction of this line should add ta the earnings of the balance of the sys- tenn not less than S1,125 GOO in addition. He estimates that the gross earnings of the entire system for the first year after the completion of the Birmingham line may be reasonably expected 10 reach S15,650,- GOO, and that the ratio of expense to earn ings should not exceed 70 per cent, which would bring the net earnings of the company for the calendar year 1904 up to S470O,0OO and show 1 per cent dividends earned on both the preferred and common stock of the company.
 The Wall Street Journal says: St. Louis and San Francisco has discontinued the issue of weekly statements of earn ings for the reason that the company considers it misleading to publish gross returns showing large increases week by week, when in reality such increases are almost if not quite absorbed by increased expenses.
 It is argued that not only are such returns very misleading to Wall street but also that they have rise to wrong ideas as to the prosperity of the com pany in the minds of other people out side of Wall street, notably the employees of the system.
 Frisco people say they are not opposed in any way to the policy of proper pub licity, and they point to the record of the year In the matter of official statements on matters of public interest to prove their statement. u is argued that the publication of weekly statements has been discontinued by over 20 railroads during the past year.
 For the twelve months the company will show surplus over all charges and preferred dividends of over Sl, ,700, 900, showing a small margin over the full 3 per cent earned on the common stock outstanding.
 The showing for the year is regarded as satisfactory by the St. Louis and San Francisco and Rock Island people. The system is syncopated and incom- plete. 1t Is a system but a few years in existence and not yet capable of com plete economy in operation or of utiliz- ing to the full it's resources. Within the next year it will undergo a complete reorganization so far as it's operation is concerned. the entire north and south di- vision being taken out of 1t to compose an- other system 2.3S9 miles in extent, through the valley of the Mississippi The fact that such move is contemplated and in fact well under way seems to illustrate how far the present system is from the possibility of perfect economy in oper- ation.
 The ticket sales at the union station, as reported by Capt Jack ". Johnson, ticket agent are slightly in excess of S122, 900 for the month of July. This is the largest amount received for tickets during | any one month in the history of the | station.
 It is stated on reliable authority that | Captain Johnson has called the attention | of the board of control to the utter in- | ability of the office force with present | facilities to handle the immense ticket | business. This business is daily growing | larger, and Captain Johnson has sent out | a vigorous appeal for relief, It is stated | that the board of control has been serious | ly considering the advsability of making | a strong recommendation to the railroad | to establish city ticket offices | in order to relieve the existing conges- | ton.
 A representative of one of the roads said | ''The board of control of the | union station had meeting and it was | resolved that a representative of each | road should take watch of one hour | in order to observe the situation. The | first man was B. M. Starks, superintend- ent of the Louisville and Nashville. He watched the window for one hour and was so impressed with the inadequacy of the facilities that he was ready to recom- mend and advocate anything that would relieve the strain.
 Altogether there seems to be no uues- tion but that city ticket offices will come | and come soon. Birmingham needs them, | and Birmingham generally gets what 1t | wants and needs"
 The auditors of nearly all of the lm- portant southeastern freight lines were in | session here yesterday. They met at the | Hllman and had under discussion a num- Der of important matters. A. H. Plant, auditor of the Southern railway, was pres ent, but when questioned as to the pro- ceedings, said that nothing had been con- and so the meeting had been adjourned to meet again soon. After the next meeting hes said that the auditors would be ready Ito take the public Into their confidence.
 
 Younu Folks Entertained.