New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-05-29
ILLINOIS CENTRAL GAIN
MR. FISH'S LONG REPORT
Progress of the System in the Last
Nineteen Years.

s.s,vesant Fish. who few days ago completed
.,,eteen years OF service president OF the Ini-
- Central Railroad Company. has submitted to
a.. hoard OF directors interesting report. re-
ou5ng Tie progress OF the Illinois Central system
80 thar period and contrasting past with pres
s-t conditions
NJ Fish has two or three times before. on ami
.s-sa-ies Of his election the presidency, which
.,ok Mace on May IS 1887 presented similar
,-.s in which. IN the present one. only
..splts OF operation OF his own road have been
AZ, but also comparisons with results in
,.,as gro1ps Of other railways When Mr. Fish
.,sr7e executive head OF the Illinois Central and
o. three years thereafter the company's fiscal
- ended on December 81. instead Of June 80. as
:. n-esert and accordingly the contrast Is made
1..veen the years 1886 and 1866
r,.,ss are presented giving salient figures relat-
% The business OF the Illinois Central Railroad
- the Eazoo & Mississippi Valley Railroad taken
.,-s-ber in those two years, ana IN regard TO
sc other prominent railroads, three In each OF
80 distinctive groups. follows: Eastern trunk
- r-es from Chicago 10 the Northwest. lines
s-,, Chicago 10 the Southwest, and Southern INES
similar table is given, covering all the ran
Id NJ the United States, as reported by the IN
- Commerce Commission. for the year ended
- 2o 1870 the first year in which the reports OF
-----;esio- were cast in the present form, ana
= --.e- ended June 80 1904, the latest Tor Wlch
ne commission has published the figures needeo-
- ace number Of miles OF railroad operated
oso IN 1851 20 557S in 1905, or l6I per cent COM
- ..- 1925 usr cent increase in the case OF the
-, 7-ra- railroads. The Illinois Centrals gross
,-,sI receipts have increased s45e4s,4o2 or So4-o
- -a-- AGAINST an increase Of %45.e per cent ioi
49, roe5s and its gross receipts per mile
.~s-as show an increase OF 4SSS per cent against
- -s-- FOR the twelve other roads The in
- IN -~a-ation expenses and taxes between
=. 80 -.- has been ass per cent. against S2 %
= cent for The otacr roads with which comparison
IS made - seq .,..-. vre-e
- 10 COS a-S tons Of freight one mile and in
= &c., wear ended June 80. 1895 6,2o.0ool5 tons
= t.---sasa NJ -sS per cent. The increase SHOWN py
- -v,elre .1er roads was S5l5s per cent similar
=, --s Illinois Central system moved IN the hscal
- ended June 80 1875 5z5.o9sl75 passengers one
,ra or s-S3 Per cent Of the number moved IN $50
- --e increase in the number earned py lhe
comparing roads was 2j366 Per cent, ,,,;-
~ --i-e NJ service performed by the Illinois
Central system show an increase OF ID" per ceh'
-e-- ne rr-7-ared with 1856. these ngures con-
- -;.r, an increase Of 3397 Per cent on the
- . ,rA other roads. An increase OF lSs Per
-. So che .---f-s cf service per locomotive IS also
tu and NJ 4 g. per cent per car. these IN
c-esras comparing respectively, WIN 'o.' anu -
- cent ry the twelve other roads.
ne Illinois Central also has increased us aver
30. -.---f.e~ a. IONS ~ paying freight in q Tram
e ,e- in 1856 to 3oS79 in 1905. or 1879 per ceH'.
= he ,arr.la-to~ e figures of all the railroads OF
rr-Tr-- IN
fer Of tons Of paying freight II tram SHOWS an
..-a,s ~ - Der cent from 175l2 tons IN 1879 20
:s--s tr 1904 Tie p~oss receipts OF al ralI'oa4S
have increased within tbs period SD Ter cei-L,
and The average number q miles Of road operated
has increased 81 Ter cent
-.e- cent from 1855 10 lgE in the capltal STOCK
common Of the Illinois Central system cohpi-
ing with an increase of 1913 per cent by the 'We!Ne
roads with which comparison is made and OF "-'S
70
showing the report says
For every share Of added capital the company aE
has received in moneE az east rs par EaI1e' eaoh
5a5 precisely the same right ard opportunity Of
subscribing. and IN no case mas me COMPANY pau
q dollar for having any Of its STOCK uloer"Tltlel.
IN the tables relating 70 the Illinois Central
rrrre-the history Of the Yazoo K Mississippi
Railroad COMPANY --t running as far back 1886
results for the nineteen and one-half years rom
Taru1rr 1855 n June co. 1905 are set forth The
-lss receipts from operation per mile peg annun'
q ar-e7rs from these tables were 1888 in the
calendar year 1856 and SL3ls in the fiscal year
1905 -rd net receipts Increasing from 1851 10
$500 TIE net income per mile per annum from
al sources was tn 1856 S-7ll. and in 1905 $50
while tie fixed charges including interest. rents
suG sinking fund. increased from sl.440 70 only
en. and were In 1913 only H.@7o, and in 1873 only
S8g
Ner fixed charges per mile per annum have d.
rru.shed from Ss1 En- 1886 s974 in 1905 The ratio
- fNfc charges lTCLllIg interest feIiS ItA sum
3-g FUND 10 net income from all sources fell from
IS per cent IN 1856 c67 per cent in 1903 and 4Os
per cent In 1905 while the income per mile per
anrura from an sources, less fixed charges, includ
t-g interest rents and sinking fund, rose from
S.g- 20 S2&-
IT. additional tables President Fish shows that,
although many miles railroad, which al the out
SET had relatively light 1rafic. have been added
10 the Illinois Central system since 1856. the in
,easiry of the traffic over the whole system. in
01rr1F~ hos IN -Ha ria-e ~
passengers. much more than doubled and that
Notwithstanding the increase n mileage the in
tensity OF traffic IN the carriage Of freight has
much more than trebled, and the rate per ton per
nile has been cut IN half
II presenting the dividend record Of the company
TIE report says IN part:
n The whole period of hfty-four and one-half
gears from the Incorporation Of the company on
report for The year ended June 30, 1865 there were
4alc M me stockholders lGl cash dividends. since
January =. 1850 which the ninth distribution
was made. serri-annusl dividends have been reg
LsrIv paid ia cash without fnternission The aver
sse rate per cent Of distribution on the capital
slock in respect 20 which dividends were made has
-9o-e-alt these Htty-four and one-half years been
The sum Of all the cash dividends thus paid has
peer St56Gt95 and those paid in the ninteen years
-iun4 -sAl 10 1915 inclusive amount 70 S6l.9zs6t0.
n go the Illinois Central abandoned its policy
n force during the preceding thirteen years. Of
siricrng its expenditures for betternents to suct
surplus income as might be left after the payment
Of dividends. and adopted much higher standard:
o. maintenance and the policy OF steadily irnprov
Ing them the cost 10 be met in part least By
tresn issues OF capital Describing the improve