New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-10-26
ROCK ISLAND REPORT.
Heavy Decrease in Earnings in Last Fiscal
Year.

The report Of the Chicago Rock Island & Pacific
Railway Company for the year ended June 30
shows for the Rock Island lines total transporta-
ton revenue Of s5s,nS624. = decrease Of Slfz8.''
from the preceding year and total operating reve-
Of $5S,4S41s5 decrease Of sl6544To Net oPer-
ating income amounted 10 S6i55,+AS. decrease or
s. ITO 401 After taxes the net operating income was
s14 35 554 and total net S46s6755, decrease
NJ g. 5-S s65 After interest charges rentals and
re+rerrnerts On leased lines there a balance
available for dividends Of SOP, against s'0o5lf
in the year before, and after dividends surplus
Of s7 81 compared with 81 e5 $50 in the preceding
twelve months. Dividends in the year amounted
n 81 92e sa against 73s in the fiscal ended
June 30, 1907. In the year the eoTnpanys fundsq
debt increased IS 2s0 600, equipment notes decreased
s4s3 45s and the three-year notes for T50ooo were
paid making q net decrease in funded and other
fTea interest bearing debt Of 81 $50 45s There was
expended in the year Ss026ss for additions and I'm
provements
The industrial department records show the estao-
Hshment along the lines OF the company IN me
fiscal year Of 2s0 industries The promoters ara
estimated 70 have expended over 100000. There
were acquired ffty-one locomotives thirty passen-
ger train cars 2947 freight train cars and one ser
vice car all being new equipment
The report says that the recent business depres-
sion caused a serious decrease in gross earnings,
which decrease met, far as thought advisa-
bic and practicable. by i reduction IN operating Ell
penses-the integrity ard efficiency of the property
and duty the public having been given caTef1i
consideration One Of the difcult features Of this
business depression which adversely affected oper-
sting results is found in the empty freight car
movement which increased nearly 23.Moeoo miles
when the Sudden falling in fret f1t trafc
not only ware the lines well covered with foreign
cars which must be returned to their owners
ernptv 70 avoid further per diem charges, but ne
ing an intermediate road. flooded with empty
cars being returned from Western lines 70 those in
the East. and vice versa. 4 vast amount 81
transportation expense Approximately Sop,@O)
was incurred in moving this equipment without
revenue and the hire OF equipment debt balance
Increased s4l z5s 7s-he latter, however. partly
account of the increased per diem rate.
In the balance sheet stocks representing owner
ship Of Rock Island lines in sundry properties
show decrease 50 90 rs due IN great part 10 the
sale bv the Rock Island Of It's holdings OF Chicago
a Alton stock for which IT received 81 l20Sl bonds
Of the purchasing company the Toledo ST Louis
& Western. Current assets, as Of June 30. showed
cash g 4s5 1876 decrease Of S4Si7 63 from the pre-
ceding year. General assets increased In the year
81 q72 2QI and liabilities decreased 81 00 s64 The
total increase in property and franchises in the
fiscal wear amounted 10 SS1s7,245 The report gives
en- detail the facts concerning the company fund
I'D and other fixed interest bearing debt and fur
rishes complete information for investors in Rock
Island securities The company owns securities
~ other roads to the face value Of 40. With
a hook value OF s31 1852 In operating expenses
there was an increase in maintenance Of way ard
s,r,a,,,res Of ss26 1876. maintenance Of equipment
an increase Of S527i04 and in tTafic expenses a
decrease Of N225l4. Transportation expenses IN
rrea sed 81 a9S 29s The ratio Of freight revenue IN
~ year 10 expenses "a So against 65S7 In the
- BEFORE and that Of total expenses 10 operat-
ing revenue 723s. against 67.s6 in the preceding
year The companys mileage increased IN tie
year lss miles
,ros have increased from s2l S55047 a mileage
~ s1s miles 10 s5s sos 39s mileage of 1853 miles
and total net from s,s6slse 10 HSlal5Zi IN
gSaa o5s tons 81 freight were carried al rale
r7fIe of cent and the last fiscal year ies''t-
40 tons at a rate 81 a cent The number OF pas
saugers carried in 1888 5710etS, 81 rate mile
~ > o. cents and in the last fiscal year l6so,h at
a rate Of $50.