East Oregonian : E.O. (Pendleton, OR) 1888-current, 1907-10-16

An Olympia dispatch says of the
earnings, profits and expenditures OF
the Pacific Express company in
Washington, which company operates
largely in Oregon and maintains an
office in Pendleton:
The Pacific Express company, OPP
Grating over the o. r. g. N. and the
Ilwaco Bay Navigation company,
earned more than IL per cent net
on its capitalization OF $6,000,000 in
the year ended June 80, 1907, ac-
.cording to It's report for that period
just made to the Washington railroad
commission. These big earnings
were made after paying so per cent
of the income to the two transporta-
tion companies.
The report shows the company was
organized October /, 1879, in Nebras-
ka, and has IL stockholders. The
head office Of the company is at st.
Louis and II is a Hartman corpora
ton. In a sworn statement President
Jas. Eggleston and Secretary-Treas-
urer w. r. Carter Of the company,
declare that the company owns no
lands or buildings in Washington.
These officers report horses and
wagons owned by the company at
Spokane and Walla Walla, express
safes and chests used on the trains
and boats, and furniture in the Of
fices in this state to have an aggre-
gate value of $4,O01.05. In other
words, this represents the actual
property investment Of the company
on which II is doing business in this
state. and the company estimates
and reports that its total income in
Washington alone was $106,4O3, and
net earnings on business in this state
after paying the railroad the so per
cent, all operating expenses and loss
es, amounted to $13.9S5.S2, or more
than 345 per cent of the capital actu-
ally invested in the business in Wash
ington.
IL Earns Millions.
Earnings from the entire line for
the year aggregated $7,575,662, Of
which $3S,547 came from money or
ders. The operating expenses for the
year were s2,712,4O5.75 and pay
ments to railroads and other trans
portation companies aggregated $4,-
147,963.4S.
This left an income of $715,SO9."
70. from which S1,964.69 was charg-
ed off for profit and loss on losses.
After paying a regular per cent
dividend on the $6,000,0O0 of stock
the sum of $353,355.03 was left as
surplus left from previous operations
OF the company.
The report shows that on business
solely within the state of Washing
ton, that is, from one point in this
state to another in this state, the
company collected s11.533.76. OF
this the Spokane office alone took in
about $4,000.
Average Wage S1.s3.
The company reports that It pays
its IS city office employees an average
daily salary of but s1.S3; that its
station agents paid by commission re-
ceive an average of but 60 cents a day
and that its express messengers on
the trains. Is in number, are paid by
this company but an average Of IS
cents daily. But the report adds that
under the arrangement the railroad
companies pay messengers as much
again.
The report shows that more than
$7,500,000 gross revenue and its ST.
100000 surplus after paying divi-
dends, its total expenditures for tax
es and insurance on it's entire line,
was less than $780, 900. This was near
ly double what It paid for insurance
and taxes the previous year. The
report shows tax payments in this
state aggregating less than I49, the
exact amount is not given, as the mat
ter is covered in the item LESS loss
es, interest, taxes, $4S.99." The 1906
report shows $7S.64 under this item,
which would indicate that although
the net earnings Of the company in
Washington increased from $9,551.33
In 1905 to $13,9S5.S2 in 1907, the
company had to pay less taxes in
Washington.