The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-27
RAILROAD NEWS
LATE LAKE SEASON
CAUSES SHRlNkAeE
-
Delayed Navigation Lessons
Freight Revenue on Iron for
Great Northern

The annual report of the Great
Northern was issued to the public yes
terday. The report covers forty pages
Of statistics and figures.
The gross earnings of the system, eX-
elusive of-the Spokane Falls & North-
ern, amount to $40, 057, 1853. This is a
decrease of $62g. 293, as compared with
the earnings of 1893. The freight earn
ings of the system were $29, $4,000, a
decrease of about $1,eoe,e9e. Passen-
ger earnings showed good increase at
$7,747, $780, and each of the other items,
mail and express, showed slight in
ereases. Miscellaneous earnings, which
include rentals and various other items,
decreased about $4,000.
The explanation of the decreased
freight earnings lies in the fact that
the road hauled 1906, 544 less revenue
tons than during the preceding year.
This decrease is traced to the wheat
shortage and the decrease Of iron ore
shipments. live stock shipments and z
decrease in a long hauls of lumber, ma
ehinery. ETC. Freight rates also were
appreciably lessened during the year.
The freight tonnage Of the road de-
creased 11% per cent and the tons
hauled one mile 7.07 per cent, and the
mileage of freight trains 7.19s per cent
Less Heavy Traffic
In making this part of the report Vice
President L. ". Hill says:
ct will thus be noticed that the
greatest decrease was in heavy traffic
usually moving in full carloads.
The leSsened traffic in iron ore is laid
to the lateness of the season last spring
at the head of the lakes and to the Ia
Dor troubles on the lake carriers.
The operating expenses of the system
were $40, ,362, an increase of $517,-
500. The expenses of conducting trans
portation alone increased nearly $780,
000. and while maintenance of road and
structures decreased about $3.50, 900, the
increases in maintenance of equipment
and general expenses more than set off
that ITEM
The percentage of gross earnings ex-
pended for operation was 1928. The
average number of miles operated in
the system. was 5,622.78, an increase of
232.SS miles over the number of the
previous year. The net earnings per
mile of road under operation was
IS. 461.45, against $3,772.17 last year.
The increase in operating expenses is
laid to increased wages, additional pas
senger service and higher coal. The
freight revenue per ton per mile was
passenger train mile brought in per
passenger 2.378 cents, as against 2.342
| cents in 1903, or earnings of $1.4767 per
train mile as against $1.6165 last year.
From this fact it is shown that the av-
erage number of miles travelled by pas
sengers was IA, against II, and the pas
senger mileage Increased tremendously.
Dividends and bond interest paid
were $780, 500, charged to the income
taceotiflt of The road. 4S.isf5ii - q
Bonds Wiped Out
President. ]. j. Hills report shows
that consolidated Az per cent mort
gage bonds to the extent of $4,000
We're cancelled and retired. He also
shows that the capital liabilities in
creased $6,S22,726 and, the. capital as
sets $14,569.602.
The president says that. the company
has set aside the sum of $2,067,173 as
dividends on the Great Northern stock
| held and owned by the Northern Secu-
| rites company. This item is shown
| separately on the balance sheet.
| A total of seVenty-thPee miles of new
road, reported to be under construction
| in the former report, We're completed
and put in operation. The Whitefish
cutoff from Columbia Falls to Rexford,
Mont. while at present in operation, is
not included in the report of building
of the year because it was not put into
use until this month. This piece of
work is reported to be a very substan-
| tial Improvement.