New-York tribune., 1905-08-14

secured the cooperation vital TO their accom-
pIishment
The money had 20 be realized on rec-fv--s' c---
uhcates. the placing Of which was very dirtrulr
II had been found impossible to interest capital "a
avert the bankruptcy The actual condition OF tn.
road was too well known to induce the taIfnx OF
ordinary chances on It's ever being any better.
There had been going from bad to worse so long
that Cowen. who. subsequently, demonstrated
sacrificed his life in the persistency OF his eadesvor
10 save the old cornpanys good had 20 suffer
the further strain OF defeat. Nevertheless h. was
rlsht up ana at II again when the programme
was settled upon. The two receivers Copen ara
Murray, working with might and main practical
Iy brought matters into such shape that nnaacf-r,
consented 70 cooperate with thern and thenc-forra
all was plain sailing. Between rs Ooooo0 aad SO
10000 were expended during the receivership period
for improvements, equipment and bettermencs
generally.
Murray was perhaps the first trar-c specialist
whose strength IN maintaining the contention
proved equal 20 securing general acoul-sc-nc- In
the view that the traffic department should take
precedence over operating and an other depart
ments. which, he looked upon them were sun
porting and not IN any manner above or inde-
pendent OF anything having TO do with the major
source OF the coupany's subsistence. In his man
se psrc2tags q s o fs e9bf asS iasasd 4 from 9 70
inss. meantiHae increasing passenger revenue 40
road having so much TO do with furthering the
Pad his waV az IA or Ins propsT,y' ne
the result thar, when the new equipment ap-
peared. there were track. station. shop and orhe-
facilities 70 insure It's TO the best advantage.
This idea OF what constitutes a railroad has
been consistently adhered 70 ever since With the
release OF the property from control and the
reorganization which subsequently went into effect.
provision made for a further expenditure Of
ABOUT OO0O. in addition TO which &45o0too mas
One order FOR 80 locomotives and 1000 freight
Twenty or twenty-five million doIIars taken from
earnings, charged or such to operating
penses. Is enormous amount. when II Is Eerneu1-
Eered that less than half OF th6t sum would have
STAYED or bankruptcy ten years ago. In this way
that Is. IN not charging all the expenditures for ad
dittonS and improvements to capital accourf-th7
latter has not been swollen TO the extent which
On 9 hasry visw might be supposed As matter
was only $4,000. and a most striking set-or
against IL there a decrease OF s+0O mile In
the total OF all charges. In short. despite tbs
funded liabilities being 20 per cent greater 8 nsil-
stated were 13 per cent less mile than IN Ins.
Il Is a interesting fact that a ton a nile the
freight receipts OF 1904 averaged less than thosc
OF 1896 The decrease apparently was inSlznt1ca1s-
rwenty-seven thoUsandthS OF cent on the ton 70
the mile Yet IL effected lessentng OF tno total
s11 Dald in 10 the company by shippers last ysa-
70 the extent OF S. .250O0o Another feature oS chs
comma son between the years named Is that rhe
taxes paid a mile were 90 per cent greater N 1ss
than in 1896. -. ,. -.
Of 1906 viii not until October De IN shape 70 per
nit OF detail comparisons With previous SearS
RE 4ross earnings from traffic are known, how
syra- TThev foot UP 81 500 0oo. C50o0so IN excess
OF the highest ever before known n ne eo1n2
history The net earnings rom traf1c rsscaeo
s9 -, 40 gain OF 81 $4,000 1904 In all 10
general income will for the first time paSs ens
STO 100000 mark