The Montgomery advertiser., 1904-10-21
SOUTHERN PROGRESS
RAILROAD REPORTS SHOW GAINS
 IN EARNINGS.
In Many Instances the Net Gains Are Smaller Owing to the Increases
 in Expenses of Op- s5. erntion. ~

Baltimore, Oct. 2Q.-(Special,) )--Dis- euseing 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 a continued gain in gross earnings, and. with hardly an exception, in net earnings as well. It adds:..
 Tn many instances the net earnings display smaller percentages of gain than do the gross earnings; this being result of the proportionately in- creased operating expenses following higher wages, etc. Of the companies whose reports are considered the Ches- apeake and Ohio shows the greatest percentage of gain and 1t Is to be noted that its increase in net is very nearly, if not quite, equal to the increase in gross. The Louisville, Henderson and St. Louis Railway also displays a near ly equal percentage of gains in both gross and net, although not such great increases as the Chesapeake and Ohio.
 The percentages of increase ex- hibited by the different companies are as follows: Atlantic Coast Line, gross 4.SS per cent, net S.52 per cent. ; South ern Railway, gross $50 per cent, net 5.53 per cent; Central of Georgia Rail way. gross 2.53 per cent, net 7.53 per cent; Chesapeake and Ohio Railway, gross 15.41 per cent, net 15.11 per cent. 1: Norfolk and Western Railway. gross ITS per cent, net 1.46 per cent; Louis vile and Nashville Railroad. gross 4.21 per cent, net 2.S2 per cent; Nash vile, Chattanooga and St. Louis Rail- way, gross 6.22 per cent, net .54 per cent; Louisville. Henderson and St. Louis Railway, gross 1O.S1 per cent, net l0.S7 per cent, Alabama Great Southern Railroad, gross 12.1 per cent, net (decrease) SIT per cent: Mobile and Ohio Railroad. gross 3.37 per cent. net 2.S1 per cent; Yazoo and Mississippi Valley Railroad, gross 7.34 per cent, net 6.9S per cent; Mis- souri, Kansas and Texas Railway, gross s.24 per cent. net 20 per cent; St. Louis Southwestern Railway. gross 5.0s per cent, net 1O.16 per cent.
 These reports speak strongly of steady progress in the South. for not withstanding the increased cost of op- erating railroads. the net earnings all most without exception show some gain, at least over the preceding fiscal year All the different reports. look ing ahead toward the end of the cur rent year. anticipate continuation of the prosperous conditions in both agri- culture and industries which have con-
 
 lines during a period which. in com parison with the two or three years preceding it, has been one Of depression in most other parts oi the country. Several of the principal Southern roads have extensive improve ments under way preparing to handle increased business. and all of them are making ready in some way or~ether to meet the requirements of that
 1or. aa Sr. as the result of the development of the South.
 Two or three announcements of prospective investments of considerable capital on differenf lines in the South have been made d. ling the last week. New York parties Ire interested in q $3,0O0, 900 company to operate in tho Kentucky Tennessee oil field where there are prospects for large develop ment during the coming winter. Drill ing in all divisions of this field Is on the increase and a number of excellent strikes have been made during the past month.
 Chicago operators have begun the de- velopment of coal lands in Tennessee. and it is expected that they will expend about $1, 100000 in further development of deposits of high grade steaming coal Chattanooga and Buffalo capi- talists have formed a $50O.000 company to operate in coal and iron lands in three counties within hundred miles of Chattanooga. the properties upon which they have options aggregattng 10000 acres. Their project is said to include the building of a furnace.
 New Workers are interested in a su- per-phosphate plant with an annual ca pacity of O000 tons to be erected at inglis, Fla, at a cost of $5O0,OoO. A s20O. 900 company at Fort Worth. Tex. has awarded a contract for the erection of a plant to manufacture bolts.