The Washington herald., 1909-04-18


IeEeS Observation-Disclosures of op-
GRAFTON and Views of President.
BY way Of comparison. the annual
-sport OF the United Railways and Elec-
-ric Company, Of Baltimore. made public
ast week, is interesting in Washington.
The report shows a falling off in gross
receipts for the year 1908 Of 2.61 per cent.
but owing TO savings in operation in
var.ous ways, net profits Of the concern
were S93. III. as compared with S37.e57 the
previous year. Following are the con
densed statements from the. accounts Of
the company:
Earnings and Expenses.
Gross earnings OF lines CoWned and
leased isll
Operating expenses Gncluding insurance) S.293S6.u
Net earnings from operstioa. S,5n.isi5 IS
Other income. 39ioOo
Total net income Applicable 10 fixed
charges taIes &c.................... IS 47Oi5 30
Fixed charges, including park and other
taxes interest Car Trust ccrtif-
Gates and funding bonds. rentals for
Maryland Electric Railways and other
eased property 26S7, ,l2 S
Ra.s2@
,1traordinary e1penditurcs.............. sls75lc5
lance carried 10 tho credit Of profit
ard loss--------- S53llLl3
Comparing 1908 results with those Of
%, the following changes are shown:
Ts4e Inc
Z per cent: decrease in operating ex-
anses, S176,74966, or 500 per cent; de-
tease in other income. Sc, $500; Increase
fixed charges. $149. .2i00S. or 6 per cent:
crease in amount carried 10 profit and
SIS for the year. S56.113-16
Views of President House.
Commenting on the showing. President
Iouse said in his report: While the
ross revenue shows a decrease. as com
rared with 1907. the results. nevertheless.
could be gratifying, especially when the
Universal financial and industrial de-
e-ession that prevailed throughout the
ear is considered. and the fact that
e':ring 1908 there was no special period
Z extraordinary receipts. such as was
Finished by the Homecoming celebra-
,on in 1907
The Increase in fixed charges is due
D the additional obligations incurred for
entails on the Maryland Electric Rail-
Ways Company's property, increase in
interest on the new funding bonds and
Increase IN taxes
The percentage OF operating expenses
50 gross earnings was 4S.1S per cent, as
0mpared with 4944 per cent in 1907, a
decrease Of 126 per cent
-
-ers carried was 13S. .400.994, a decrease OF
5.714o01
The number Of transfers used was "a
S7.949. a decrease Of 57I632, about 20 per
ent OF the paying passengers having
1vailed Of the transfer privilege
Extraordinary expenditures for the
year were SS13 751.05.
Big Expenditures During Year.
Continuing. BIr. House said: During
The past year SSI3.75LO5 has been taken
rom income. credited to extraordinary
expenditures and put back into the
property. IN addition thereto Ss37. "A
has been expended under the arrange
ment made with the Maryland Electric
Railways Company for purchases, con-
structiOn. &c, Of property leased to your
company.
Notwithstanding lheSe large eNpendl-
lures. there has been an actual decrease
during the year in accounts and notes
payable Of S291 703.
THAT this has not been done by per-
hitting the property TO depreciate in any
manner IS evidenced by the abOve-men-
toned expenditures, as we'll as the fact
that included in ordinary costs of opera
ton. $685. 097.7 IS was spent for maintenance
OF way. and $3.50 1852 for maintenance OF
equipment
'The total amount of taxes including
park tax. cost of paving streets, track
changes necessitated by regarding OF
streets. sewerage commission work, wild
ening Of streets, sc, was $722, S64.55, OF
more than 101z per cent Of the gross
revenue Of the company. as against 1884,
24629 in 1901. & net increase of .61S26
THE park tax for the year was $423,-
$685. as against 1896. .O55Sf in 1907. a de-
crease OF 81. .:35.S6.'
Transfer System Extended.
As evidencing the extent TO which the
transfer privilege has been availed OF
by patrons since July l. 1890. when thC
universal free transfer system became
effective. the following table Is given:
Transfer Direction Transfer