Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1906-10-06

cents. The average revenue per ton
per mile vas 0.766 cents; the like av-
erage for the year 1904 was O.7SO
cents. The earnings per train mile
show an increase both for passenger
and for freight trains. The figures
show a slight increase in the average
cost of running a train l mile. The
ratio of operating expenses to earn
.ngs for the year 1905 was 66.7S per
cent For 1904 this ratio was 67.79
per cent.
Earnings and Expenses.
The gross earnings of the railways
in the United States from the opera
ton of 216,97361 miles of line were,
for the year ending June 30, 1905,
So, OS2, 1882, 4O6, being $107,30S, 315
greater than for the year 1904, and
for the first time exceeding the two
billion mark. Their operating ex-
penses were $1,39O,GO2,152, or $751;
| 7O5, 1893 more than in 1904 The fol-
lowing figures present statement of
gross earnings in detail and show the
increase of the several items over
those of the previous year: Passen-
ger revenue, $472 1884, 732-increase,
SOS, 1867, IA; mail, 1926, 125-increase
S926,S9S; express, $45,149, 155-in-
crease, $3,273,519; other earnings
from passenger service, 11,O40,142-
increase, $125,396; freight revenue.
S., 45O, 772, S3S-increase, $71,77O,145;
other earnings from freight service,
IS, OS0, 266-increase, $511,9S4; other
earnings from operation, $52,319, 14S-
increase, $2,233137. Gross earnings
from operation per mile of line av-
| nnrrncnOnlinO
age for the year 1904 being 1892 less.
The operating expenses assigned
to the four general classes
were: For maintenance of way and
structures, $275,046,036; maintenance
of equipment, $2SS,441,273; conduct
ing transportation, $771,22S,666; gen.
eral expenses, $55,319,S05; undistrib-
uted, $566,372. Operating expenses
averaged $6,4O9 per mile of line, this
average showing an increase of SOL
per mile in comparison with the year
1904.
| The income from operation or the
net earnings of the railways amount.
, ed to $691, SS0,254. This amount ex-
, ceeds the corresponding one for the
! previous year by $55,6O2,416. The net
p earnings per mile of line for 1905
! averaged $3,1S9; for 1904, $2,99S, AMI
| for 1908, $3,133 The amount of in
. come attributable to other sources
than operation was 1921 ,S9S,559.
. There are included in this amount the
r following items: Income from lease
of road, $114,473,13 dividends on
/. stocks owned, $56,S42.694; interest on
bonds owned, 1S,7S6,644, and miscel-
laneous income, $41,796,O76. The to-
v tai income of the railways ($923, 49,
e S07)-that is, the net earnings and
> income from lease, investments, and
miscellaneous sources-is the amount
from which fiexd and other charges
against income are taken to ascertain
d the sum available for dividends. Sucn
r deductions aggregated $596,6SS, 420,
!. thus leaving 1927, 09O,9S7, as the net
n income for the year ending June 80,
O 1905, available for dividends or sur
# plus.
J. The amount of dividends declared
j. during the year under review (lncluo.
ing $S2,415 representing other earn.
E. ings to stockholders) was $23S, O46
1t S97 leaving as the surplus from the
= operations of the year ending June
,e &c. 1905, $S9,043, 400. The surplus from
s. operations as shown for the preceding
)i year was $56, 729,331. The amount OF
j. deductions from income as stated