Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1908-05-14
Tri-City Railway & Light Com
pany increased Net Income
4.42 Per Cent in Year
REPoRT0F PRESIDENT SHOWS
Details of the Betterments for 1907
Presented to Stockholders by
Mr.. Porter.

AAAOoAAtSo W lytOS,oOO.Coy luC ODcI-
ating expenses were $1,132, 1928;
leaving the net earnings for the year
SG49, 9G3.G0. The increase i'm gross
earnings of the subsidiary companies
over the previous months was $142,-
GAIA, or STA per cent; and the net
earnings s27,SS1.52. or 4.42 per cent.
"The interest charges during the
year amounted to $39S,343.O7 leaving
net profits of 1881 ,G2O.53. There have
been declared out of the net profits
four quarterly dividends of II. per-
cent each on the outstanding prefer
red capital stock, amounting in the
aggregate to $156 1GS.00, leaving sur
plus from operation for the year of
$95, 45253
During the year, the following i'm
pTovements and extensions were be-
gun, many of which are completed and
in operation, and some in course of
construction.
There have been constructed, in
Guiding reconstruction, approximately
20 miles of track, paving where re-
quired by the city, 40 pieces of special
work and necessary rail bounding. A
new bridge, connecting the island
with Rock Island, was built by the
U. S. Government, and the new
tracks We're laid thereon by the COM
pany.
Additional rolling equipment has
been placed in service, as follows: 90,
3 foot G-in n1nSod with
motor equipments; IS 2-motor, 40
horsepower equipments; single truck
snow sweepers; Ii pairs car trucks.
"The addition of these 90 new cars
and equipments, together with better
track facilities afforded by the new
Rock Island bridge, should result in
substantial gains in earnings in the
street railway department.
Lighting and power transmission
lines have been constructed from the
plant of the Peoples Power Co., at Mo
line, to substations at Rock Island and
Davenport. This will bring about
economy in operation by the CONSOLE
dation of the several power plants
Distribution lines in all three cities
have been overhauled, re-arranged and
extended.
The Local Satisfaction.
"One-half of the old engine room OF
the Tri-City Railway company power
| plant in Rock Island has been remod
elled for a substation. Some of the
old type steam units have been dis
loarded. and in their place have been
installed two 400 K w. motor-gener
ator sets, with the necessary trans
| formers. Other transformers are be
ling moved from the Moline plant, and
| ali electrical energy for power ant
lighting for Rock Island is distributed
from this substation.
"The electric power plant at Molin,
has been practically completed, ant
has generating capacity of 1000,
| horsepower.
| "In accordance with the require
ments of the franchise of your com
pany in the city of Davenport, under
lground conduits are being constructed
for all wires within the fire limits.
"The operation of the Dovenpor
Gas & Electric company's gas work
in Davenport has been discontinued
''The old storage holder. at the Nc
line gas plant had capacity of ITO
1000 cubic feet, which was entirel
Inadequate. and a new gas storag
holder with capacity of 100000 cubi
fleet has been erected to meet the re
uuirements of new business.
"The efforts made during the pas
lyear to secure pew business have RI
lsulted in most satisfactory return.
land We have every reason to. -believ
that by the continuation of an activ
business-getting campaign the result
fol the coming year will be more sa
lisfactory.
Commerce and industry general
IN Rock Island, Davenport and Molin
were affected adversely by bushes
, conditions in the latter part of 100
but show evidence of returning, at a
early date, to prosperous condition
ands the prospects for additional bus
ness in all lines in the future are I
vorable.'
Work Not General Enough.
AS stated, there is nothing said
lplans for the present year. From OF
Ter sources it is gathered that Il
lamount to be expended this seas,
Q will not be large, which Is to be i
e lgretted in view of the condition
/ lsome of the company's property, p;
d ticularly the street railway tracks. T
l. general opinion seems to be that t
n money expended last year would ha
Z given better results had it been us
t. in more general betterments, ma
g. things needing attention being n,
to lected while unnecessary work v
leI done at certain places. For instan
er concrete foundations were placed
r. der the tracks laid, which will Of
ok have to be torn UP when the ties q
IS, trails are rotted or worn out. The sa
N, expenditure of money and time, it
la. argued, might have been made to