The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-04
LOCAL STOCKSAND BONDS
SALE OF A BLOCK OF SECURITY
TRUST STOCK AT 100 IL.
Additional Figures on the Operations
of the Indiana Union Traction
Company Last Year.


Traction Company Of Indiana and the Indian
apolis Northern Traction Company save out
a meagre statement OF its financial operations
during the year 1eO3 and its financial condi-
ton the end OF the year. Owing numerous
inquiries for mors detailed statement OF the
condition OF the company at tho beginning OF
this year and its operations during the year
ending Jan. 81, the Journal has secured from
officials Of the company figures which show
somewhat comprehensively the meaning Of the
statement given out Tuesday. This statement
showed:
Gross earnings for the lis 81 =
33Pe1iati ms, expenses expenses. s ssS SIS q
Fixed charges interest accounts.
taxes licenses and dividends on
preferred stock ACKNOWLEDGEMENTS. 35S S11 ID
Net income for the year. appli-
cable 10 rental payments............. 10 3os1
knowing that the bond issues Of the Indiana
Union Traction Company and its allied COM
panies amount 10 about Ss,0o.Oo0. the annual
interest on which is about s450.OoO-numerous
stockholders who did not attend the annual
stockholders meeting at Anderson Tuesday
have asked an explanation OF the discrepancy
between this amount and the fixed charges
and dividend payment for 1903. shown In the
above statement. The principal items in the
ss5S.51I of fixed charges and dividend payments
are as follows:
Interest on Union Traction Company 49,.
OF Indiana S,OO0.Oco per cent. bonds. $50. 600
Dividend dr. Payments on Union Traction Of
Indiana preferred stock-....-.--..-....... 4oVo
Total $4,000
officials of the company explained yesterday
that the interest neither the Indiana Union
Traction per cent bonds $1,000. O0O) nor the In
dianapolis Northern per cent bonds Cs3 500 ooo)
is included in the fixed charges against the In
diana Union Traction Company last year. but
is figured into the construction account OF the
in h.
tween this city and Kokomo. and being extended
to Peru.
AS all of the indianapolis Northern line Is net
yet in operation and will not be for time.
not all of the interest the sS5cocoo Indian
apois Northern fves will be charged against
the Indiana Union Company this year a fixed
charge About 900 $4,000. perhaps. OF this
interest will be included in the company's fixed
charges and the remainder will go into construc-
ton account again.
The regular fixed charges OF the Indiana Union
Company this year will be in the neighborhood
CT 500. 900. outside of any dividend payments
stock of the Union of Indiana Company
and taxes. BY the lease Of the Union
Traction Companys property to the Indiana
Union Company. the dividend OF per cent.
annually upon the Si.OOOoCo Union Traction OF
Indiana preferred stock is virtually a fixed
charge against the Indiana Union Company.
preferred stock of the Union Traction Company
of Indiana the fixed charges against the Indiana
Union Company this year will be about s5eo.ooO.
outside OF taxes follows:
Interest on Union Traction Of Indiana
Interest on Indianapolis Northern per
Interest on Indiana Union 100000 per w.
Dividends on Union OF Indiana preferred
| Dividends on Union of Indiana common
stock payable Jan. j and July l..... Ill., 900
This does not include taxes and licenses. which
| last year amounted $4,000.
| The net earnings OF Indiana Union Traction
| Company in January, 1904. were $4,000. The
| earnings of Union Traction Company of Indi-
ana in January, 1908. were s75,lsl. So, with the
| earnings of Indianapolis Northern lines 10 Ko-
komo. the Indiana Union Company earned in
January about $4,000 in excess of the earnings
of Union Traction OF Indana's property dur
ing the corresponding month last year.
The net earnings Of the Indiana Union Com
| pany last year were s49s.s14 To meet its fixed
| charges and the dividend payments on the
| Union Traction Of Indiana common and pre-
| ferred stock the net earnings OF the Indiana
Union Company will have to be increased more
than $780, 900 this year.
Meyer & Kiser report the sale OF the following
| stocks and bonds. Two hundred and fifty shares
OF Abattor preferred stock at 1oo1z. $4,000 Indi-
| apolis Gas skies at 1O4&. $1,000 Indianapolis
Water hves at 1O1 and So 900 Indianapolis Street.
| railway fours at STA. The entire transfer vss 10
one investor. The sale consummatsd yes
| terday.
The session OF the local Stock Exchange yes
| terday quiet The feature Of the can was
the sale of a block of ten shares OF Security
| Trust stock at 10OIa No other sales were made.