New-York tribune., 1908-10-24
GREAT NORTHERN YEAR
Effect of State Legislation on In
come from Passenger Traffic.

-., report CT the Great Northern Railway Com
~ for the year ended June so shows gross
e-stiur revenues OF s5s.42s-63e. 2 decrease OF
:, "a 5o4 o. So per cent from the preceding year
-.+t7- expenses increased s5esJSI Net oper-
.,e earnings were sIs.271577. ana total net reve-
= SIS so5S2I- Taxes amounted 10 s2.2SS17S
ing TIE operating income al S1e.s17.1z1 Other
,-,e rvas SS.ss1SS4. making the total gross cor
&c income s2o,1e%47e. Deducting from this
s--sls interest,". dividends and other items, leaves
-ots1 To- the stock OF $1252IsS1 OF this
ut s. s6S-sSe WIS transferred 70 the fund for
s--sucnt improvements and renewals The total
sY.s-a4ing income mile OF road operated was
go against s2,ss6 IN the year before.
=. -e-ort states that II the company had re-
= he same average revenue a passenger a mile
=, fra passengers transported In the year as il
- in the vesr before, its revenue from pas
- traffic would have shown sn Increase OF
tfas IS s. instead o. an increase Of only s140-
- This is the direct result Of the operation
- -e5uc5nE The maximum rates for the trans
-.s+i5u o. passengers, and the resultant necessary
Es-r+io,ls il interstate passenger rates The re-
- Of local fares IN Minnesota from three 10
=, ,eu.s = mile became effective on May l, 1907
= .,,e basis oS the rates. the earnings in the
- ended OF June SO, 1905. from transportation
= -, passengers in Minnesota we-c s7s45s1 less
-, .5ev would have been had the rates in effect
- "a Nay I. 19o1. stiI been in effect. And the
,,,-tioa of revenue scc-uing for the trsnsporta-
Of interstate fl&SSSlEeTS IN minnesota in tho
- ended on Jslne 80. 1905. s6ss.3s3 90 less
- IL -s1l6 have been had the interstate rates In
-. --4o- 70 Nay l. 1907. been applied.
-,a totc. passenger revenue both local and inter
=. has decreased from last year II each one OF
= s-s-es that by legislative enactment reduced
= es-es below TIE three cents mile basis. On
-. ,4asr hand. the total passenger revenue from
- +-asc both local and interstate, II AL but one
:, ,As states tlat Old not reduce local passenger
It's shows Al Increase. due to increased travel.
>. RE exception IS Idaho. where there is only
s.le locs- traffic and Il consequence Is more Sc
- s-ecte5 by- reductions IN Interstate rates
sss necessary hy reductions IN the local rates OF
-.s.- states; a1d In Idaho the decrease from last
,ss- was only S,Se1 g.
The report shows general progress by the road IN
instruction work extensions. additions and better
rYents SeE equipment received tn the year cost
.~e-sSs ard q 1880 freight train contracted
o. - TIE precs5gng year, orders for 2097 can
,.ga5 There vas increase In the conlpany's
authorized share capital il the year. which remains
s, So.raon-
Great No--he-n stock with cash realized from
Issues C that stock less cost OF such securities
rad been disposed o. 10 June 90 Is. s1s.55S 9o5
1d of these securities stocks costing 81 704
used II acquiring ownership OF q number OF rail-
way companies Z The Northwest which are feeders
o TIE Great Northern system DeducLilg the cost
g securities acquired with Great Northern stock or
The cash proceeds there3roTn leaves a balance
cash realized from Great Northern stock issued and
not invested = secu-1tLes-of so. .4o3.+E-
Ills balance has been used IN part payment for a
po-tlon o tle purchase price OF railway properties
Ecu-ired amounts advanced 70 proprietary compa-
-ss cost O. property equipment etc from time 20
tzne purchased BY tie Great Northern. amounts
szpe-EeJ IL the last fiscal year on construction
equipment and additions and cost o. stocks OF and
advances made &c Canadian companies There was
rst reduction IN the year of 3. 90 n the
AMOUNT Of bends O the company n the hands OF
lie public