The Topeka state journal., 1908-10-28
Depression of Last FallAssigned
as the Cause.
WINCHELLIS HOPEFUL
Head of System Reports Many
New Industries.
Other Items of Interest in Rail-
way Circles.


The Rock Island earned s4,71S, ,1O2, or
So per cent on it's capital stock of $75,-
900, 900 during the fiscal year ended June
80, 1908, after providing for all charges,
according to the twenty eighth annual
report Just issued
The effect of the depression is shown
in the decrease in total operating reve-
nue., which fell off 81. 654. .476. or 2.S per
cent, which is largely accounted for in
the great slump in freight earnings,
amounting to $2,316,545.
Passenger earnings, on the other
hand increased $539, 81, in spite of the
panic year and the cent a mile fare
laws which were passed last year in
many of the states through which the
road operates. The number of passen-
gers carried increased 1,57S,348.
Operating expenses show an increase
of $1,515, 1925, or 81 per cent, and taxes
increased $113.S56, or 6.s per cent. There
was no reduction in the dividend rate,
5A per cent for the year, but the bal
ance profit and loss surplus suffered
serious reduction of $4,633,7S9 to $685.
317 or 82.99 per cent.
The number of freight train miles
shows a decrease of 2S9,S74 the revenue
per ton mile remaining at "a cents. Al
though the passenger revenue increas-
ed, the NUMBER Ol pdSSCn6CI IL dAl AilAACo
decreased 1887. The revenue per pas
senger mile decreased from $.0223 to
S.OS19, or S.0034.
The results of the operations for the
year were as follows:
Total operating revenue (de-
crease $1.654,476. or 2.s per
Operating expenses increase
81 515, 1926, or 81 per cenD-..- 4232S,I4I
Net operating revenue
decrease $3.170, ,401. or 1874
per cent? .$1o,1oo'44S
Taxes increase $113, $50. or 6.S
CENT, Vo. ......... 1,7ss, ,ss4
Onerating income .s14, ,365, ,555
instantaneous Income ... 321, POI
Total income .$14, $50, ,755
Interest and rentals 9,96S,653
Balance of income, after pro-
viding for all charges,
being 81 per cent on capf-
tai Stock (s75,ooO.9O0) .....-$ 4,71s,1o2
Dividends paid (5A per cent on
capital stocD .....s-.... So. S'SzS''oo
Balance surplus for the years 7ss,sl7
To afford proper comparison, the
percentages of increase ana oecrease
are computed on basis of last years
figures revised according to interstate
commerce commission classit1catlons
now in effect.
The capital stock of the Chicago,
Rock Island & Pacific Railway COM
nanv outstanding at the close of the
previous fiscal year was $74,S54, 100, ana
has since been increased by the issue
of $500 in exchange for $5,OOO capltaI
stock of the Burlington, Cedar RaploS ao
& Northern Railway company ano sooo
capital stock Of the ROCK Islahu ~
0nn1nAnV.
President B. L. WincheH in his re
port to the stockholders says IN part:
"The recent business depression
caused a serious decrease in your gross
earnings. which decrease was met, as
far as thought advisable and practica-
bIe. by a reduction in operating ex.
penses-the integrity and efnc4ency OF
the property and duty to the pupnc
having been given careful consldera-
ton. ,a
"Dnring the year your company sold
all except 1900 shares (preferred) OF us
holdings of stock of the Chicago q Al
ton Railroad company 10 the Aoleuo'
St. Louis & Western Railroad com
pany, receiving therefor that COM
pany's gold bonds of 1917.
"In last years report mention was
made of the expenditure of S4,OS9,934
for additional and improved terminals
at various other points. TO compete
these terminals and for additional sim
liar work your company has disbursed
81, ,521 044 during the current year.
''The Industrial department records
show the establishment along the lines
of the company during the fiscal year
of 29O new industries. The promoters
are estimated to have expended over
50 900 900 on the plants and intend 10
employ nearly 5000 persons.
-Four new sidetracks were built to
mines, and 63 to private industries; ex-
tensions were added to one mine track
and to 21 tracks to private industries
"There were acquired 81 locomotives,
30 passenger train cars. 2,947 freight
cars, and one service car, all being
new eQuipment."