The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1903-09-23
ASS. $40. 4.s7s,s5s 4.s5S.23

terIy dividend of two per cent 1t Will
be seen from the above figures that the
dividend rate of eight per cent has been
easily maintained and in spite of the in
creased charges and operating expenses.
The roads earnings from the pas
senger department for tho year We're
$22,953, OFT; from freight department,
S23,926, 150; from rents, 1868, 745; from
telegraph receipts, $53,163.
The roads income from other sources
than passenger and freight were:
Dividends on stocks owned, 1928.
Interest on bonds owned, $S0,11O.
Dividends on stocks leased, $40, S16.
Miscellaneous income, $77,624.74.
Income from other sources, $565,S17.-
100. as s g5slS
Total, $12,906,s71,9e.
The roads ratio Of operating expenses
was 1881 per cent. The report further
says in part:
.sFrom uncomfortable causes the cost
of operation was very much in excess
of any previous year. The coal strikes
prevented contractors making deliver.
les, SO that the company was compelled
to purchase its fuel supply in such
. be obtained The additional price paid
per ten on the quantity used this year
has made our coal cost more than ST.
100000 in excess of the cost of the pre-
vious year.
The prosperity Of the country as in
dictated by the increased gross earnings
Of the railroads, was made the reason
for the demand Of railway employees for
higher rates of wages, and this COM
tpany, in common with transportation
lines generally, has met the situation
with due regard for the interests of
stockholders and employees Substan-
tial Increases Of wages or reduction Of
hours Of work have been made, entail
ing an additional yearly expense APP
proxinating eight hundred thousand
collars To assist the company to meet
these extraordinary OUTLAWS the con-
stant1y increasing cost of operation, the
reasonable demands of the public for
improved service and additional facili-
ties, and to pay dividends upon increas-
ed capital issued for new equipment
and general betterments on the proper
ty, your directors deemed it necessary
to make a slight advance in freight
rates on local traffic.
The funded debt has been reduced
81, We, 900 by the payment of that amount
Of the 100000 Of this company's first
mortgage per cent bonds, which ma
tured on June list, and has been in
creased by the addition of $1,0OO,0O0
IL per cent. bonds OF. the Old Colony
Railroad company, issued to pay for
land in South Boston, purchased Of the
Commonwealth Of Massachusetts,. The
funds have been set aside for the pay
ment Of the remaining s225,O0O 4 per
cent. bonds when presented. Interest
on these bonds ceased June list.
On October list, next, first mortgage
bonds Of the Harlem River & Port
Chester Railroad company ($1,0OO0OO Z
per cent. and $1,OoO00O 6 per cent?
guaranteed by this company, will ma
ture, and it is the purpose to pay these
bonds by the sale Of company and other
stocks in the treasury.
During the year the company has ac-
CURED by purchase, the entire capital
stock of the Rockville Railroad COM
pany, whose line extends from Vernon
to Rockville, and also substantial in
terest in the Bridgeport Steamboat
company.
The new line from North Attleboro to
Adamsdale was opened on June 9th,
and the Attleboro Branch railroad, held
under lease, was surrendered as of
June 30th. ~