The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-05-05
Green's testimony.

The following was shown by Mr.. Lin
coin Green, traffic manager of the South
ern railway:
THE gross earnings of the Southern
railway in Alabama from all sources for
fiscal year ending June 30, 1904. were So.
62S 1897. The total operating expenses
within Alabama for the same period
amounted TO 81, 454, 20. 80. Earnings in ex-
cess of operating expenses were, there
fore, s1,174,6S362
"rhe net earnings without any deduc-
ton for taxes paid within the state
which amounted to Sl72 1919, or for money
spent on improvements within the state
which amounted to SCI 297 Al did not pro-
duce return at the legal rate of interest
in Alabama, namely s per cent, on II valu-
alton exceeding S140Gi.00 per mile, and
did not produce return at per cent. on
a valuation exceeding $22, 600 per mile.
"Dedueting this total taxes and the sum
expended for improvements within the
state the remainder would yield s per
cent interest on valuation not exceeding
$11,270.0O per mile, and per cent interest
on valuation not exceeding Ss,03O.o0 per
mile
'Deducting from the net earnings only
1910 per cent of the taxes paid in Ala
bama, and nothing whatever for the eX-
penses of the improvements, and the re-
suits represent per cent on a valuation
-
valuation of $21, ZIG per mile.
The Stock.
1.-THE common and preferred stock per
mile of the Southern railway In Ala
bama amounts to S2e,S73; the bonded in
debtedness $24,356 a total of S5l229 per
mile and adding equipment trust obli-
cations this would be increased to $52,-
397 per mile which is the maximum that
could possibly be charged against the
lines of this system in the state of
Alabama.
export testimony presented to the fed
eral court for the northern district of
Georgia. showed that 1t would cost to re-
produce the lines of the Southern rail-
way In Georgia, as they exist at this
time. a $i5155 per mile.
I'm the case of the interstate COM
meree commission versus the Southern
Railway company, before the circuit
court of appeals In Virginia d1 +. r.
745 affirmed by c. c. A. 10, f. r.,
5000, the court stated. In dealing with the
question of the value of the Southern
railway that 3" the evidence Is that 1t
would cost nearer $4,000 than $4,000 per
mile of road to reproduce the road, ter
minals and equipment of the company
considering the cost of ACQUIRING what
may be called the good will of It's patrons
I'VE have not heretofore been called
what would be the cost of reproducing
the lines of the Southern railway In Ala
bama as they now exist. but 1t has been
shown that as to the Southern railway
system. the cost approximates S5o.0oo per
mile, and that as to the state of Geor-
gia, the lines could not be reproduced
for less than $4,000 per mile.
I'VE. therefore, express the belief that
the lines of the Southern railway in Ala
ha ma eonld not be reproduced for less
than $4,000 per mile
Little of interest.
There was nothing to attract attention
at the afternoon session of the commits
sion,- the witness being c. b. Compton
traffic manager of the Louisville and
Nashville railroad Mr. Compton went
largely into the question of rates in a
detailed way, and took up the time with
the dryest kind of figures. He was very
careful to make the commissioners see
that he had a good reason for the posi-
lions taken and that the Louisville and
Nashville is doing its best to take care
of the business In hand In the most sat
isfactory way.
President Smith of the Louisville and
NASHVILLE was on hand all the time and
seemed to take great deal of interest
In everything that came up.
Capitol Improvement.
The capitol commits ion, at a meeting
held In the office of the governor today.
decided to have competitive plans offered
for general scheme of Improvement of
the building and appointed the clerk, DR.
Thomas NJ. owen and Chief Justice Nc
Clel1an of the supreme court to draw
up the details. A report will be made at
a meeting to be held next Tuesday The
al Iofa he on1a - -.