The Savannah morning news., 1904-08-21
ANNUAL REPORT
OF C. OF GA. RY.
DETAILS OF OPERATIONS.
DECREASED FREIGHT EARNINGS
MORE THAN EQUALIzED.

short Cotton Crop Responsible for
the DiHerence-Incrcnsed Opernt-
ing Expenses over the Previous
Year-Freight and Passenger
Traffic Operations show Result OF
Careful Management of President
Hanson and OGiciaI staff.
Full details of the operation of the
Central of Georgia for the fiscal year
ending June 80. 1904. are embodied in
the annual report Of the road issued
yesterday.
At the recent meeting Of the board
of directors dividend of 5 per cent.
was declared on the first income bonds
and a dividend of per cent. on the
seconds. This was official notification
to the public of the prosperity of the
property, though the various causes
which led up to this result were not
shown.
1t will be somewhat of a surprise
that. in spite of the splendid showing
that the freight earnings of the road
showed a decrease, as compared with
the previous year. of $74, 1884 The
passenger department showed an in
crease of $3.50, 3SS.7 %, and the gross earn
ings. an increase of 1922, 460.S6. The net
income was 1898, 1850, an increase OF
1854. $685.
Source of Dividends.
AS already published, on the frsts
the dividend amounted to 5000, 900, and
on the seconds $4,000. a total of $780,
.
come of 1888 so, which after adding
a small balance from the previous
year. and subtracting the sum of
$2,56S.66 for the liquidation of receiv-
ers' and purchasers accounts, left a
net balance for this purpose of $342,
07803. Subtracting from this the
amount declared for dividends on the
firsts and seconds to be paid Oct. l.
and there will remain a balance of
$2,07S.03 to be added to next years
dividends.
On one item of freight alone rests
the entire responsibility for the loss
and that is the cotton crop The
smallness of this crop last year, as
compared with that of the year be-
fore, caused a falling off in the ship
ments of cotton seed and cotton seed
oil of $4,000 tons, while cotton ship
ments were off 5000 tons.
expectations the freight earnings of
the road will be vastly increased. re-
gardless Of the price of the cotton
This, added to the careful policy of
President Hanson, and the official staff
of the road, will make an even more
fiattering showing for next year than
for the year just passed, and makes
it within the bounds OF possibility
that even the heretofore ignored
thirds may come in for their first
recognition.
The Operating Expenses
In the maintenance of ways and
structures account there was a decrease
of S34,250. As, and. decrease of S157. 623. 81
In the maintenance of equipment ac-
count.
In the cost of operation a big increase
was made, the figures being $22S,214 %.
The largest item was for station lab
orers, S49,S67 81. The second largest
increase was in the cost of coal for
locomotives, $45,341 20. This was due
IN large measure TO the increase in
the price of fuel over last year.
For injuries TO persons there was an
increase of S2e,749 40 and for rent for
buildings and other property, an in
crease of $39532 "a. An increase in the
salaries OF station agents and clerks
OF $2S,OO8 IS and of swtchmen, flagmen
and watchmen of S2S.4 40 81 was respon-
eible for a good part of the balance
The general expenses showed an in
crease of 1886. The net increase in
operating expenses was 1.776.71
At the close of the last fiscal year
the Central of Georgia was opera ting
total of 1877 SO miles of track, reach
ing the states of Georgia. Alabama and
Tennessee. A portion of the road, en-
bracing 3S3. AZ miles. is leased.
The Earnings Per Mile.
The gross earnings per train mile
were $l6S. as compared with $157 for
the previous year. The operating ex-
penses per train mile were s119, while
for the year before they were S117
The operating expenses were 1905 per
cent OF the gross earnings. as COM
pared with 74.45 the year before. The
ret earnings per train mile were A
cents, and for the year before 40
Heavier train loads. made possible
by better road beds and heavier en-
gines, are responsible for the decrease.
The total train miles were Sag. FOL
decrease of Isl per cent. from the
year before. Freight car mileage.
loaded both directions. showed a de-
crease of 2.27 per cent and the empties
a decrease of $50. The average num-
Ter of loaded freight cars I'm both d.
rections was 1401 per mile an in
crease of so per cent. The empties
showed decrease of S.1S per cent.
showing that the cars were more eco
nomically handled as to freight loads.
Increase in Passengers.
The total number of revenue passen-
gers carried for the year was 30, 44O, 464.
an increase of 1896. f40 sover the wear
previous. The average rate per pas
senger mile showed an increase Of
.023 cents. The average number of
miles each passenger was carried was
Sl.l4. decrease of 80 of a mile.
In the freight traffic statistics, IL is
shown that the average rate per ton
per mile was Lib cents, an increase OF
opp of a cent. The average haul per
ton was 1924 miles. a decrease OF 1856
miles.
Revenue freight to the aggregate of
3,92S,315 tons were hauled distributed
in the following general classihcations:
Products of agriculture. 7S26S4 tons.
1892 per cent. products of animals
74,246 tons, 1.S9 per cent; products of
mines 1887 tons. 0S per cent: pro-
ducts Of forests. 1.07S757 tons. Pas
per cent: manufacturers and miscella-
neous. .091 tons, 81 65 per cent. The
year before there were hauled. 1885,
147 tons a falling on this year of 26.-
772 tons.
ENtension OF the Line.
During the fiscal year a line from
Lyerly. Ca. 20 Toles Hollow Ala. a
~ mill