New-York tribune., 1909-01-29
50. PACIFIC'S REPORT
- PER CENT ON COMMON.
These Earnings Compare scith 1876
of the Year Before.

,-+ cf ,h. Southern Pacific company for
,esr ended June 30. 1905. the figures Of which
t .. made public yesterday. shows earnings in the
W.. months after operating expenses. charges.
'Ns.-red dividends. taxes. betterments. land oe-
Pc and sundry expenditures. equivalent to
- .- cent on the s1e7.s4s.zos common stock out
.,,E This compares with 72S per cent in the
before Gross earnings amounted to sll3545.-
% decrease Of s2os4 $40; net earnings 10 SSs6IS.-
80 decrease Of Ss.e44.9o2. and surplus over hXed
w. &c sal s6H 5a5, g decrease OF s. 1885
- n-eferred and common dividends there was
N,re Of 3, Tso 773 a loss of 81 760 SO7 from the
preceding year -. g., ....- ... oo-0-
- net receipts have Increased upward OF
pan,oa1 To state the matter otherwise, therefore.
~'o., ~ cent was earned on Southern Pacific
on tn the year ended December 81, 1908 A
..,,uorthv feature of the operations in the fiscal
- ss that the management expended enormous
- both from earnings and capital account for
- Improvement and the extension Of the Southern
,a..s rronerties Thus, maintenance a mile main
1000 track operated N,746. showing an
'--assa Of ss24 sOs over the preceding year SINH
- the maintenance OF equipment was very high'
,.nteuarce per freight car having been @Ae'
-tIcb next 10 Union Pacific is probably larger
-hsn that OF any other OF the Hhpol '"i' all 0O@
:. ,,s United States.
-. Reliance sheet of the Southern Pacific shows
and bills payable Of June 80, 1908. Of s52'
s-,s.s or this E5,S76.SsS was owing TO the Union
v.,tsr and since the end or the year $Ze,ZVV'OIV
= nser repaid Under its progra anme OF expan-
= she Southern Pacific advances money 10 It's
1-onrie.ary companies for the construction OF ne"
,a. ACQUISITIONS etc Such advances and eX-
,.n5itures amounted June 80 TO sloSSSZ'oSf' not
. sorsr Of which has been capitalized To state
,bs financial situation more succincty the current
.1d 6eferred liabilities as OF June Sc aggregated
t-s so7 2ss OF which s52.s22eiS consisted Of loans
- b,ils pavable. The report shows that the COM
nsuv owns unpledged and free ss2 2sOlSsS par Falue
., stock. ana S3s5s2.s00 face value Of bonds, an
err-esate Of sl3I.5s4.1s9. In addition the South
s~n Pacific holds free s22747.o00 OF its own two
Eve years per cent gold bonds
The income account OF the proprietary companies
., The Southern Pacific shows q balance after pre-
fsr-ed dividends of S156s2 .oe5 against s226oS566
e. the wear before. The sum Of s33.66i.Is0 was
maid IN dividends the common stocks of the Vari-
Gus proprietary companies In 1908. included IN
which was dividend of Is per cent on the $780,
na0 600 oapital stock Of the Southern Pacific Rail
road amounting TO s2e,Sea.000
Z H Hartman, in hts report TO stockholders
says in part;
The effect Of the general business depression
which set during the fall Of 1907 did not reduce
the gross revenues Of the company TO an agsregate
below that FOR the corresponding Inonths OF me
- tie close of the hscal year-JunA 30there was a
decrease OF SIS IA AS Ihere was an increase OF
half year. there was shrin6age a N me year spt
goss reTen2es o6 bIs THy rsTays in the Republic
of Mexico under concessions and subventions which
make IL important that the woTk shoulo De prose-
cu,eG without interruption. -
The two remaining notes Of the Central Paclhc
Railroad Company 10 the United states of AmeTica @
q & s4G6S5 each due respectively August l. !SS
and February J. 1909, paid or IN July, 1SOs,
releasing Central Pacific Railway Company first
Tsfuaeing per cent bonds TO the amount OF
s Ooo which then became free asset IN me me
tessury of the company. The discharge OF TINS
dept marks an epoch in the history or the CentIai
Pacific Railroad BY an act of Congress in 1867
me Central Pacific Railroad Company was au-
ihorized 10 build q railroad from Sacramento TO a
-sncfion with the Union Pacific Railroad, and was
ryeu fourteen years complete the road ms ms
sznrfsoa qss eracted IN Nav. 1859 and IN the ran
Il ftat wear the entire ra line from Ogden 10 san
rrsncIsco Bay was IN operation The gross earn
M IN the wear 1910 lie following the open
rs 4he entire ffnel amounted to s1.4S8Sfe on tne
ii miles operated. The gross receipts Tor the
year ended June 30. 1903 for the 40 miles OF rail-
wy operated amounted 20 SS3,45S14l