Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-10-24
GAIN IN EARNINGS.
Good Showing Made by Southern Rail-
roads,

Baltimore, Md, oct 23.-Discussins
the annual reports Of many of the
principal railroads in the South for the
past fiscal year. the Manufacturers
Record says. in this weeks issue, that
they show 81 continued gain in gross
earnings and with hardly an exception
in net earnings as well. 1t adds: "ln
many instances the net earnings dis
! play smaller percentages of gain than
90 the gross earnings, this being re-
suit OF the rroportionately increased
operating expenses following higher
wages, etc. OF the COMPANIES whose
reports are considered the Chesapeake
q ONO shows the greatest percentage
of gain, and it is to be noted that it's
increase in net is very nearly, if not
quite equal to the increase in gross.
The Louisville, Henderson & st. Louis
hallway also displays a nearly equal
percentage of gains in both gross and
net, although not such great increases
as the Chesapeake & Ohio.
THE percentages of increase exhib-
lted hy the different companies are
as follows: Atlantic Coast line, gross
AS per cent, net $50 per cent; South
err ltaI'Way, gross $50 per cent, net
5.J3 per cent: Central of Georgia Rail-
Way. gross 2.53 per cent. net 1.53 per
cent; Chesapeake & Ohio Railway,
gross 13.41 per cent. net 15.11 per cent;
Norfolk & Western Railway, gross
I.13 per cent, net LAC per cent: Louis
vile & Nashville Railroad, gross 4.21
per cent. net ESP per cent; Nashville.
Chattanooga Il st. Louis Railway.
gross 81 Per cent, net "A per cent;
Louisville, Henderson & st. Louis Rail-
way, gross l0.51 per cent, net 10.SI per
cent; Alabama Great southern Rail-
road, gross 12.Il per cent, net ode
crease 81 per cent; Mobile & Ohio
Railroad, gross 331 per cent, net PSI
Per cent; Yazoo & Mississippi Valley
Railroad, gross 1.24 per cent, net Cos
per cent; Missouri, Kansas & Texas
halfway, gross 3.24 per cent. net 20 per
cent: st. Louis Southwestern Railway,
gross sos per cent, net 1016 per cent
These reports speak strongly Of
steady progress in the South. for not
WithStanding the increased cost Of
operating railroads, the net earnings
almost without exception show some
g2in, ut least over the preceding fiscal
EtdI. All lllt' ulIltitlll ItlOIlS, look
ing ahead toward the end of the cur
rent year, anticipate a continuation of
the prosperous condition in both agri-
culture and industries which have con-
trihutcd to the success of the different
lines during Il period which. in com
parisOn with the two or three years
Immediately preceding it, has been one
of depression in most other parts of
TIL" country. Several Of the principal
Southern roads have extensive i'm
rrovements under way preparing to
handle increased business, and all of
them are making ready in some way or
other to meet the requirements of that
growth Of traffic which is sure to come
rs the result OF the development of the
SOUTH
Two or three announcements of pros
pe"tvo investments of considerable
capital on different lines in the South
have been made during the last week.
New York parties are interested in a
$3,00O000 company to operate i'll the
kcltuckyTennesse oil field where
there are prospects for large Develop
Inent during the coming winter. Drill
ing in all divisions of this field is on
the increase and number of excellent
strikes have been made during the past
month. Chicago operators have begun
the development of coal lands in Ten
naSsce. and it is expected that they will
eXrend about 81 100000 in further de-
Vclopmcnt of deposits of high grade
stcaming coal. Chattanooga and
Buffalo capitalists have formed $780,
GEO company to operate in coal and
iron lands in three counties within a
hundred miles of Chattanooga, the
properties upon which they have OPP
lions aggregating 1000 acres. Their
project is said to include the building
of furnace. New Workers are inter-
ested in a phosphate plant With
an annual capacity of 10000 tons to be
erected at Inglis, Fla, at a cost of
$4,000 A 100000 company at Fort
Worth. Texas. has awarded a contract
for the erection of a plant to manufac-
tUrp bolts