New-York tribune., 1907-10-03
TW0-CENT FARE HELPS.
NEW H4VEN Road REPORT
Instead of Failing off, Passenger
Receipts Hare Increased.

A. Hartford Railroad Company, issued yesterday
shows for the fiscal ended June 30 total gross
earnings from operation of S.. .eu, 1885, comparing
With s2@i.z2 for the preceding year: operating
erpenses of 81 SOoSz comparing with $50 5S6 for
the year ended June 30 1906. and net earnings Of
E7,R1.s54 for the steam railroads comparing with
the preceding years s17.7s1 ,7S5.
An interesting feature report in view of the
reduction of the passenger rate TO 2 cents a mile
for the whole system which reduced rate was in
faii operation for months of the last fiscal
year, is the showing Of increase in passenger
receipts Cncluding mails and expressl, instead of
a falling off, had been expected the passenger
receipts being S6,75Ss29, against S5,262.14 in the
preceding year.
President Mellen, in his report to the stockhoId-
ers says that the increase Of about per cent in
the operating expenses Cgross earnings having in
creased only about cent? has been due to "a
large increase in wages and in the cost OF nearly
every class Of material necessary in the operation
Of the property and to an increase Of z5 per cent
in the per diem rate for the use Of freight cars"
Regarding the latter item. he says:
From July ! 1907 the per diem rata for the ,,sa
Of freight cars was increased from q to 90 Cents
g car. This increase of 100 per cent following an
previously, meant so serious additional charge
S BSp IN O1r tsfo2 Ih0S9 s esSted nat at per aanum
tons as render US powerless TO adopt any measure
against so unreasonable a charge Failing IN hav-
so5sbe ese Of Tss t or m secug any Tes
fective October l. 1907, has been given Of with
oFdNal ITOll me agreement governing such inter-
change.
Concerning the Boston & Maine Railroad Company
Of the capital stock Of which the New Haven now
OWLS toa.s4S shares President MeIen says that the
purchase Of those holdings due to knowledge
Ihei large amount or the stock was seeking a
market and that its acquisition by interests likely
70 become the purchasers might prove a serious
menace to the New Haven He continues:
Inaknauch as the terms agreed upon contemplated
to Be acquired if has worked so ne hsPdsap a SiDoh Poh
your company thus far, ana as the BALANCE Of the
no longer danger Of its control passing TO interests
Majne toe o- SoSL ne tooston 81
snd is more supplementary and Complementary TO
the osration ~ Tb o nTot; IN T mess @ ana
nonV VIII The econ"Tfes pafiIrs,ILi resIi H
would. judging by experience everywhere upon the
der possible an improved service and reduced
tariffs: and II the Boston & Maine Railroad can be
acquired with the goodwill Of the public it now
serves Il should prove profitable business venture.
representation and disparagement. II may be well
70 proceed further, but such investment as has
IN t5zt it has what could be regarded only
menace 10 your property in preventing the con-
trol passing IN another direction
Details OF great number OF improvements on
the New Haven system are given. Among the I'm
provenents are the double track connecting line in
Providence Including tunnel the extensive pro-
grsnne at Waterbury, which should be completed
In 1908, and the change from steam to electric
traction for the entire passenger service between
this city and Stamford. which is expected 10 be-
completely effective IN the present month.
Twenty-Five grade crossings have been eliminated
in Connecticut. four IN Massachusetts and one IN
New York
Mr. MeIlen gives details OF the recent financing
Of the company, showing that it has L2s.7st
shares, OF which 247.977 shares held In the
treasury OF subordinate companies, all of the capt.
al stock Of which Is owned by the New Haven.
Referring TO the acquisition OF the Connecticut
Railway and Lighting Company. and the Rhode
Island Street Railway Company, he says that they
will eventually become profitable, though for a
brief tine showing a deficit In their returns He
says their control was important for the protection
and growth OF other properties Of the company.
The operation OF the newly acquired coast steam
ship lines Indicates profit IN Of the interest
upou their cost. the report says. and they have
sn important bearing upon the rate situation.
About 100000 preferred stock Of the New Eng
land Investment Securities Company has been die
posed Of but further sales Of stock are possible
e1cepI AZ prices tnsdvisabie
An official Of the New York Central said last
night that It could not be determined at present
Whether or not the two-cent rate had Increased
The roads business. The Central has had a uni
form rate Of two cents mile for many years. and
TIE monthly passenger service has always shown
gradual Increase The ofhcial would not ednit
cies the competing roads had 20 follow the suit OF
ms New York Central lose patronage.
Ono Of the Erie officials said last night that hts
rosd was making up report OF the business done
s'nce the tTo-oeut rate went into effect and when
Inst Etste-nent YVES completed. In a couple OF
months. It could be learned whether or not any IN
crease ot business due to the new rate law
oafy IN Ohio and Indiana, where the two-cent rate
s h effect on the Erie system. any results be
obtained Ths passenger traffic IN that section
Email; ts bulk Of traffic 10 in the East in sec-
ions where tie tTVo-cent rate does not apply II
WA said that the income from their passenger
service has decreased for the nrst six months of
ne year. while Che income from tho freight traffic
has Increased
x could not be learned IL tho reported decrease
N she passenger traffic income was due to the
compeuon OF the roads that have adopted the new
ssa II WEE also ssid that En- the roads have not
mac 40 increase IN revenue a. a result OF the rate
lh~. The Pennsylvania Railroad has reported a
oecrease 70 ths passenger In those aections
were ths two-cent rate has been put In force.
vnas TIE Lake Shore road has found the n.1p rate
prostnbis