The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-03-09
Annual Statement Shows Gross
Earnings Have Increased SS43,
62S.4S Over Income of 1902.
McCULLOCH A NEW DIRECTOR.
Believed That Manager of Chic;l-
go City Railway Will Succeed
Du Pont in Local Traction
Company To-Day.

! At meetings OF the newly elected di-
| icct,rs of the United Railways Company
! and the St Louis Transit Company to-
| day 1t is expected that Robert McCul-
| loch. general manager of the Chicago City
Railway Company will be elected second
vice president and general manager of the
st. Louis Transit Company, succeeding A.
b. Du Pont. who. it is expected, will re-
sign
Aside from the probable election OF Mr..
McCulloch, 10 other official changes are
anticipated. and President Carleton and
ether officials viii be reelected.
The meetings OF the directors of the
two companies will he held separately, and
it is not believed that a Joint session will
be deemed necessary.
At the meeting Of the directors of the
Transit Company the financial condition
Of the company will be under discussion,
and report will be made by the officials
as to the steps which have been taken
TO relieve the company of its indebted
ne 50 and place it upon better financial
footirg.
TRANSIT ELECTION.
At the meeting of the stockholders of
the st. Louis Transit Company yesterday
Robert McCulloch and Louis Celia were
elected members of the Board of Direc-
tors. Mr. McCulloch succeeds to the Va
cancy in the board caused by the resigna-
ton of Festus J. Wade, president of the
Mercantile Trust Company, who resigned
on account of his duties with the trust
company occupying his entire attention
Mr.. Celia succeeds, by virtue of a large
purchase by his firm. Celia, Adler & TILES,
or Transit stock, to the vacancy caused
/.
The only difference in the personnel of
the Board OF Directors of the United
TRANSIT Company is that of Edwin h
comrades is on the board of the United
Railways Company and not one that of
the St Louis Transit Mr.. Celia is not
member of the Board OF the United Rail-
ways.
Upon good authority it is stated that
Improvement and refunding bonds to the
extent OF $1,000 900 have been placed. which
leaves $l.OJ0,C00 of the total amount vet TO
be disposed of.
According to the annual report sub
mitted to the stockholders by President
Carleton. the total deficit to January l.
1905, amounts to $S56 4g9, of which only
So, 1856 was acquired last year, despite the
hieavy iiy outlay for improvements and the
increased cost OF operation.
DECREASE IN DEFICIT.
The deficit for 1902 was s26SOSS and for
1901 was s525,690. The interest and rental
9-,of D.
while in 1902 they were s., ,752 5S1 and in
1901 were S2,617, ,l42
1t is proposed by the sale of the $780,
900 improvement and refunding bonds to
t1cit can be paid and the improvements
deemed necessary can be made. In all,
the Transit Company has upon the Sc
cur1ty of these bonds borrowed S5,776 OOO
The interest on the bonds will be at the
rate of per cent, which will be 500 600
year interest charges.
The earnings of the Transit Company
according to the report have increased
SS43, ,62S.fS over the earnings of the pre-
ceding year, the total earnings being ST.
2S5, ,&7. The operating expenses We're 81
cost of operation I'm 1902.
The Transit Company has made i'm
provements costing S1s6S, $751; the principal
items being the building and equinping of
the Locust street substation. s273, 90: cars,
1862 coo; motors, $4,000; track construc-
tion, 1851 .OcO.
the Transit Company owned and operated
last year was 3i5.06. The number of miles
of track owned by the Transit Company
is 3jS.65.
100000 FOR DAMAGES.
In clearing up the accumulation of mi
nor obligations $4,000 was charged to
damage account, and it is stated that
100000 will be reserved this year to the
same account to provide for contingent Ii
Taxes increased to the extent of $50. .747 3S
the rate of taxation having been increased
from s1.95 to &. IL a hundred
Last year the company carried 30 &c.
626 passengers. of which 81 09s 679 were on
transfers Ur passes. The number of pas
sengers carried in 1901 was 163. .995 942. and
in 1902 1S5,0T7 $40 passengers were carried
The passenger revenue increased 1916 per
cent.
FAIR TERMINALS.
The report calls attention to the five
terminals which the Transit Company has
constructed in order to handle the crowds
during the Worlds Fair These terminal.
are situated near the large entrances t1
the grounds. and are provided with double
track railways which will enable the
company TO concentrate as many cars
from any of the routes connecting with
the Fair Grounds as is necessary to meet
the demand.
These improvements will enable the
Transit Company to handle, IT is stated,
10000 passengers per hour to and from
the Worlds Fair Grounds.
The report shows that since the Tran
sit Company took charge of the property
of the United Railways in 1893 the ad- |
dtions. acquisitions, improvements and
betterments during the successive years
have been = follows.