The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-09-04

Makes a balance to be carried
iorWaru OF Sl,oS' ,ooZ-Sl
The mileage of main track from which
these earnings were derived was the same
as in the previous year.
The number of tons of freight carried
one mile shows an increase of 81 per. cent. /;
the revenue from freight an increase Of
lilo per cent; the average receipts per ton
per mile increasing from 5.92 mills to 6.44.
The average train load increased from 332
to 3S3 tons, and the freight train earnings
were $2.15 per mile, as against S1.97 last
year.
The number of passengers carried one
mile shows an increase of 1.S per cent, and
the revenue 5.3 per cent; the average rate
per passenger per mile increased from 1.S7s
cents to 1.942 cents. The passenger train earn
inGs per mile were $1.1523, as against s1.lS7O
the previous year. The passenger train mile
age increased Az. 1853 miles.
The increase in freight earnings for the
year was N,314, a1. %; there was an increase
of $2s2, 1886 due to increased tonnage. and
an increase of Sl,O61 ,2i2.37 due to increased
rate.
TIL passenger earnings show an increase
of S29O,9S3.SS; there was an increase of $685.
25.S due TO increased business, and an in
crease OF Sl92, 1850 due to increase in rate.
There has been a large increase in the
expense of maintaining the property. due TO
increased wages and cost of supplies. In con-
Quoting transportation there has also been
an increase of 14.3 per cent. over the previous
year from the same reason. The largest in
crease in any one item being in the cost of
fuel increase in fuel this year being S273,-
767.45. or 20.7 per cent?
The company has pursued the same policy
as In previous years, of improving and en-
larging the equipment and permanent way.
and charging the cost of the same directly
70 expenses. In pursuance of this policy,
ten engines. 1886 freight cars and nineteen
PASSENGER cars. costing altogether s49s. 42s. 81.
were charged to repairs of equipment; 1927
miles of side track, for the accommodation
of business and to facilitate the train serv-
ice. were built. at a cost of 500. 235.5S, and
charged TO expense of maintenance of track
and roadway; SIS. 1882 was also paid dur
ing the year for land at various points on
the line where il was needed for additional
right of way or terminals, and charged to
expenses.
In addition to these charges, there was
paid on new freight cars and charged to
income account 1911, 262. the same being part
payment on $500 freight cars; 121. So miles of
eighty-pound steel rails were laid, replacing
lighter rails; $4,000 yards of ballast were
distributed in renewal; 1886 lineal feet of
trestles and wooden structures were re-
placed by stone and iron.
The entire condition of the property has
been very much improved during the year.
There has been a gradual increase dur
ing the year in wages and cost of sup
plies. While we still have many applica-
tons for increased wages and the price
1 Vi TId supplies II somewhat ntRnpT
1t would look as though we had about
reached the summit of expenses. and that
for the coming year they would not be
larger on the whole than they have been
for the past year.
The Improvement in freight earnings is
large and gratifying, due both to an in
crease of tonnage and rates.
Tariffs are well maintained, and IL the
volume of business continues, there will be
a good margin for profit. The total surplus
of the company from the years business
| hnfnrn hnroIn m nnur anHo w-n- QEn
1929. In addition to this, the company
expended and charged directly to operating
expenses something over a million dollars
for extraordinary work and Improvement
In order to prepare for the business of
the st. Louis exposition, which will open
up next spring, your directors thought il
wise to greatly improve the line between
Cincinnati and st. Louis. They therefore
authorized the construction of about
twenty-five miles of new track, a portion
to be double, between Cincinnati and In
dianapolis, which would relieve that divis-
ion from many of its heavy grades and
curvatures, and enable the business to be
handled with much greater economy and
dispatch.
Between Pana and East St. Louis the
company has a single track. with some
bad grades and a large amount of curva.
lures. Your directors during the year have
made q contract to build fifty miles of new
line which should avoid the curves and
grades of the old line. By this new road
twelve miles of distance will be saved, in
addition to the elimination of curvature
Your directors have placed the same under
contract. and expect to have il done in
the early part of 1904.
1t will be seen that the Peoria & East.
ern Railway has increased it's gross earn.
ings largely, and that it's net is about the
same as last year; the explanation of nc
increase in the net being that ii has ex-
pended I'm surplus earnings entirely in i'm,
proving it's property. Ninety-seven thou
sand dollars has been paid for new freight
cars and charged to expenses, and sos.
76O.76 has been expended in extraordinar
improvements and additions TO the road
and shops.
The trains of the company during the
year have been operated with great care
and success, and due consideration for the
same is hereby given the faithful work OF
Orr aunDlOveS