The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-10
500 ROADS
GOOD SHOWING
SURFACE INDICATIONS UNSATIs-
FACTORY BUT MISLEADING.
October Earnings 100000 Against
Average of $55O,OOO-This Offsets
Decrease Of $4,000 Gross and
$4,000 Net-Some Great Northern
Figures for Comparison.

The 500 line reports for October a
decrease of $41,000 in gross and of
$4,000 in net. At first glance the
showing looks decidedly unsatisfactory
but on close study there are circum-
stances of considerable weight that
tend to make 1t look much better than
it might The most important is that
it is compared with the record month
in the history Of the company, namely,
October, 1902, when gross earnings
reached the remarkable figure OF
$S44, 900, or nearly 100000 above the
supposed maximum of the company
two years ago. The average monthly
earnings of the company are not
greatly over $550,000. 1t is manifest
that the record Of $S02,00O in October
is not at all bad.
For November the earnings will
show over $759,o00, or slightly better
than last year. For the five months
to date the record is but little worse
than the excellent record of last year.
There does not seem to be much pros
pect Of a better year on the whole
than last and it would not surprise the
management at all If the year current
should run somewhat behind last year.
1t is gratifying to note that the net
earnings are keeping up relatively bet
ter than the gross. For the four
| months recorded they show decrease
of only $4,000, and official comment
would seem to indicate that there is
every prospect of this deficiency being
wiped out in the coming months.
The fact appears to be that the road
| has not been limited in it's expenses by
| lack of working capital, and has not
| therefore seen fit to adopt a policy Of
| rigid economy such as appears to be
popular with most Of the northern
roads at the present time. The ex-
penses are still pretty heavy. The
principal increase is in carrying on
the business-conducting transporta-
| tion-and is due to the higher cost of
labor and material. Maintenance of
| equipment has also cost more and
| in the item Of maintenance of way.
Since the company has charged off half
a million a year for the past two
years for this purpose it is reasonable
to suppose that the work of putting
the road in shape is fairly we'll in
hand.
On the whole, the results, both gross
and net, compare very we'll with the
results on other northwestern roads
in the same period. The Great North
ern gross results are at hand at the
same time. The figures show that in
November the Great Northern lost
$4,000 as compared with last year
while the 500 line made a slight gain
For the five months the Great North
ern reports a gain Of $350,O0O, OF
about Ia per cent, while for the same
period the 500 line also reports g
merely nominal gain of 8 per cent
The Milwaukee, North Western, Wis.
consin Central all report that theil
earnings are not quite keeping up the
record Of last year in the matter OF
increases over former years, but tina,
they are doing well in spite of this
fact. It may be expected that sub.
sequent statements will reflect a Ger.
| q Cri6 ir,t I, 81
all these roads in the shape of re.
| duced expenses.