The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-01-09
EARNINGS SHOW
LARGE INCREASE
Annual Report of Panama Railway
Company Is Submitted to
Congress.
LARGE BALANCE ON HAND
ON GOOD TERMS WITH THE RE,
PUBLIC.

Washington, Jan. S.-The annual re-
port Of the Panama Railroad company
for the ten months ended Oct. 81 last,
submitted to congress today, shows
that after payment of all fixed charges
and cost of operation for the period
covered there remains 1854, 24S, or some
what in excess of 3 per cent on the cap
ital stock. The total earnings of the
road for the transportation of all kinds
of traffic show an increase of $500, 2O4,
or 1877 per cent over the correspond
ing ten months of the previous year.
Passenger earnings increased S43,691,
and mail earnings decreased 81, 434. The
total revenue freight traffic for the
period of the report, including both
merchandise and coal, was 406,S64 tons,
an increase of 26.73 per cent, and yield
ed a. revenue of 81, 306,145, an increase
Of 25.17 per cent over the correspond
ing period Of the previous year. Freight
traffic increased 1929 per cent, the
earnings therefrom increasing 1928 per
cent. The increase in total earnings
for the railroad and the steamship line
was $536 512.
The report states that only by the
most strenuous efforts was the move
ment Of cargOes restored to normal. It
is feared with the advent of the season
Of heavy movement Of coffee. which
promises to exceed that of any preVi-
until the new equipment is received as
the business Of the road is so far in adj
vance of its facilities as to be beyond
the power OF any human being to han
die it with any regard to economy.
Heavy New York Tonnage.
1.-THE large tonnage carried by our
steamship line out of New York" says
the report. els attributable to a gradual
development in commercial traffic by
our line and to an important growth in
the bulk and quantity of material
transported for the isthmian canal
commission for which latter an adjust
ment of rates on a more remunerative
basis is under consideration. The ad-
visibility of chartering one or two
large cargo boats to carry heavy bulky
construction material and equipment to
the istdmus for the commission and
the railroad company is under consid-
Grafton
The quantity of cargo originating at
European ports and brought to the
terminals Of the railroad by the foreign
steamship lines has progressively in
creased, and it is stated that there are
strong indications that the Chilean and
Peruvian governments intend to estab-
lish or subsidize additional lines be-
tween their principal ports and Panama
so that by cooperation with the Pan
anna Railroad company that rapid and
convenient communication may be
maintained with the United States.
The report says the cOmpany's dock
at New York has become entirely in
adequate TO the business of its steam
ship line, and that the addition of two
large steamships to the line and the
possibility that one or two large cargo
boats may be added, calls attention
sharply to the need for an enlarged
terminal at that end, which change viii
necessarily involve a large increase in
expense because of the scarcity of suit
able docks on the North or East rivers.
The company's relation with the repub-
lie of Panama through its executive
and administrative officials, it is stated,
are most friendly in character.