The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-09-18
Results From 2-Cent Fare
Law,
HOOKING VALLEY ROAD
Has Prospered According to
Annual Report.
Gross Earnings for Year Ending
June 80 Shows an Increase Of
$427,I3o

The application of the 2-cent fare
law to the Hooking Valley Railway
company has not resulted in any de-
crease of passenger earnings by that
road. The annual report made pub
lie yesterday by Auditor l.. p. Eek
er shows that the average number OF
passengers carried per train mile for
the year ended June 30, 1907, was Sc,
as against the preceding year. While
the average distance travelled per pas
senger decreased 1.76 miles, the rate
per passenger per mile was LIS cents
as against 1 10 cents the previous
fiscal year. The earnings per pas
senger train mile, not including mail
and express, were 81, as against 90
cents the preceding year. The earn
ings per passenger train mile, in
cluding mail and express, were Slip,
an increase of cents train mile.
While the gross earnings of the
company for the year ended June 30,
1907, showed an increase of $467 ,239,
the net earnings sowed a decrease Of
S60,797, as compared with the pre-
vious fiscal year. The increase in
gross earnings was derived as fol-
lows: From coal traffic, $97,564;
from other freight traffic, SAB;
from passenger traffic, including
mails and express, $11,29i; from Tlis-
lcellaneous earnings, $102,937.
The increase in operating expenses
and taxes consisted of these items:
Maintenance of way and structure,
I$11S,163; maintenance of equipment,
$166,546; conducting transportation,
$22l,6 ,615; general expenses, $1727;
taxes, $199S3; total increase in
Operating expenses of $52S 036 for the
year. The ratio of operating expenses
TO gross earnings was 6S 10 per cent.
as compared with 64 .9i the preceding
year. The principal causes of the
increase In expenses were the high
er price of labor and materials; a
heavy increase in the repair and re-
imoval account, due to the failure
Iof old equipment; three weeks in
terruption to traffic in March caused
by floods in the Hooking district.
the cost of food repairs amounting
to $S5,OOO
Compared with the preceding year
the number of tons of freight carried
Increased 1882 per cent; the average
haul of freight increased GA miles
lThe average rate per ton mile was
4. 96 mills, decrease of 0.O9 mills.
The earnings per freight mile were
3.10, an Increase of 3 cents mile.
lOf the increased tonnage coal con-
tributed 3S per cent and other freight
G7 per cent. AS compared with the
preceding year there was an increase
or IL per cent in the number of pas
sengers carried one mile; the average
number of passengers per train mile
was 90, an Increase of one. The av-
erage rate per passenger per mile
was LIZ cents, decrease of O.O1
cent.
A large number of feright cars were
lretired from service and during the
year orders were placed for 2OOO steel
under-frame, drop-bottom coal cars, of
80 tons capacity, and $50 steel under
frame box cars of 30 tons capacity.
The income account of the year is as
follows: Gross earnings from opera
tion, $690704S operating expenses
and taxes, $4,7O9,SO9; net earnings
from other operation, $2,197,23S; in
come from other sources, $445, ,437;
total income, $2,G42,676 interest on
funded debt, rentals, legal expenses,
etc, $S15,19O; net income, $1,S27 1856;
deductions, 3 1-2 per cent. dir .dends
on common stock, $3S5,0O0; per
cent dividends on preferred stock,
5000, 900; appropriations for additions
and Improvement to property and
equipment, O,42S; surplus for year
Credited to profit and loss account
$322O57. The company earned on it's
common stock before taking out the
renewal and improvement account
Ill per cent. and after providing
for this account GA per cent. for
the year. The total amount to the
credit of the profit and loss account,
June 80, 1907, was $4,7S3 $50
| The report is one of which the
operating and financial officers of the
road may feel proud, as it shows
that in spite of heavy charges for
new equipment, increasol price of
labor and for repairs of damage
caused by floods the net for the year
was brought well up to that of the
preceding year.