The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1907-10-16
NORTHERN EXPRESS COMPANY
FILES FIRST REPORT.
GROSSLY WATERED IS the
STOCK OF the COMPANY
Eight Per Cent Dividend Is Declared.
Stock Held BY One
Person.

Gross receipts in North Yakima
of the Northern Express company for
its first year of business are shown
to be only $1S,644.77, according to
q report just fled
An per cent dividend upon it,
grossly watered stock ana a surplus
Of s2i1,296.55 represents the years
net rrofit of the Northern i;.press
COR l.any, which has just made its
FRS; annual feoort TO the railroad
commission of Washington. The
company was organized under the
law, of New Jersey June I. los,
to take over the business Of the
No, ti'ern Pacific and Great Northern
EvJiess comps.ies. 1t is capitalized
a. * 100000 aud the stock is held
b. cLc person. Tac tnief evidence
OF IS stock inHat II is shown in the
IT,, that it li,'s its contracts with
the orthern Pacific at $780, 900,
representing an asset of thar value
t. H.; capitalization. Thu contract
in question runs for fifty years for
an exclusive service.
The gross earnings for the fiscal
year covered by the report aggregate
$2,60S,314.S6. The operating ex-
penses amounted to s711,071.97,
and $1,233.9S was paid to the rail-
panies.
The company operates over 5000
miles. of which 1000 miles are with
in the state of Washington. 1t has
nine offices. sec agents. 213 messen-
gers, 165 drivers, 162 wagons, 1926
horses and 499 trucks What part
of its business is done exclusively in
the state the company states cannot
be estimated, and that it is unable to
furnish average salaries paid to en-
ployes or averages of the days they
work each year.
The gross receipts in Washington
for transportation is reported at
$466,S10.53. Seattle leads with
s95,03O.24. Spokane has s74,772.-
II; Tacoma, s32,SSS.23; North
Yakima, $13.64477; Aberdeen, $12,
342.S2; Chehalis. sS,54G; Walla
Walla, $7.4SS.64.
The report shows that the company
owns no land and no buildings in
the state, but it values its horses
and wagons, office furniture and fix
lures, safes, etc, in Washington at
a gross sum of $37,697.51.
The Pacific Express company, OPP
Grating over the 0. r. & y. and the
Ilwaco Bay Navigation company,
earned more than IL per cent net on
its watered capitalization OF $6,00O,-
900 in the year ending June 80, 1907,
according to it's report for that Pc
riod just made to the Washington
railroad commission. And these big
earnings were made after paying so
per cent of the income to the two
transportation companies.
The report shows the company was
organized October /, 1879. in Ne
braska, and has but twelve stock
holders. The head office of the COM
pany Is In St Louis and 1t is Har-
riman corporation. In a sworn state
ment President James Eggleston and
Secretary-Treasurer w. R. Carter
declare that the company owns no
lands nor buildings in Washington.
These officers report horses and wag-
ons owned by the company at Spo-
kane and Walla Walla, express safes
and chests used on the trains and
boats and furniture in the offices In
this state to have an aggregate val
ne of S4,001.05. In other words
this represents the actual property
investment OF the company on which
1t Is doing business in this state and
the company estimates and reports
tnat ltS lOtal iHcoHe III washing gum
alone was s106, 403, and net earnings
on business in this state after paying
the railroad the so per cent, all op-
Grating expenses and losses, amount
ed to $13,9S5S2 or more than 345
per cent OF the capital actually in
vested In the business In Washing
ton.
Earnings from the entire line for
the year aggregated s7,575.662 of
which s3S,547 came from money or
ders. The operating expenses for
the year we're $2,712, 405.75 and
payments to railroads and other