The Washington herald., 1909-01-03
TWIN CITY TRANSIT
Earnings Are Good NOtwith-
standing Depression.
HAS A SH0RT-HAUL TRAFFIC
Franchises Are Virtually Perpetual.
Company Owns Extensive Car
Shops and Constructs Its Own
Equipmenf-Revenue Are About
$6,OOO,OOO Annually.

In several respects the Twin City Rapid
Transit Company. operating in Afinneapo-
lis and St Paul, IS unique. These TWO
cities are so close together that there is
practically no demarcati0n line between
them
The company. therefore. has the sd-
vantage Of an interurban business with
short-haul traffic. and charges a accent
fare for carrying passengers from one
city 70 the other. Il further has the
advantage OF serving two business centers
in what IS geographically one city This
right to charge a scent fare in each city
has been upheld by the courts.
The franchises Of the Minneapolis Street
Railway Company are virtually. perpetual
and exclusive while those OF the ST
Paul City Railway Company are virtually
perpetual, though not exclusive. These
franchises have been confirmed By the
State legislature and upheld By the United
States courts with fares irrevocably fixed
at ; cents in each city.
The fact that the franchises Of the St
Paul City Railway Company are not ex-
elusive in terms is not an important one.
as the company IS occupying at the pres
ent time all the most important thor
oughfares OF the city. which in many III
stances are wide enough 10 accommodate
only one track. This fact makes the St
Paul franchises also practically exclusive
Owns Its own Car shops.
Another interesting fact. illustrating the
able and progressive management OF the
company, IS that 1t owns extensive car
shops. where IL constructs its own equip
msnL While there IS probably little saw
ing I'm first cost Of equipment by this
method. II has resulted in a high stand
ard o. upkesp. The company is using
pay-as-you-entcr cars Of its own design.
These cars are somewhat wider. shorter.
and lower than the usual type. and are
some thousands OF pounds lighter. with
equal strength.
4 further example q progressive man
aEement was seen in 1877. when the com
pany voluntarily increased the wages Of
its employees. as had been done on pre-
VI0us occasions when the earnings war
Tanted IL This was done in recognition
IN the street railway business than a
satisfied body Of employees and the good
VII o. the travelling public
Surplus earnings have been regularly
Gscd for the betterment OF the system.
together with the proceeds % $4,000
capital stock sold At par 10 stockholders
since May. 1872. and the proceeds OF
bonds sold. Tie amount appropriated
for renewals a method OF providing for
depreciation. in 1857 was S5ff against
SS--ooe in 1896. showing that the company
makes increased provision for deprecia-
ton as the value o. its property en-
Dances The company now has renewal
reserve funds Of nearly Slhaaoo1-
Incorporate in 1891.
The Twin City Rapid Transit Company
was Incorporated in ISL. and controls
by stock ownership the Minneapolis
Street Railway Company. the St Paul
City Railway Company. the Minneapolis
and ST Paul Suburban Railway. and the
Minneapolis. Lyadale and Minnesota
Railway Company. In December. 80. it
acquired the North Side Street Railway
Company. The cOnpany's total mileage
OF electric railways Is 3s1. including. be-
sides the lines IN Minneapolis and ST.
Paul and the four inteTurban lines con
Meeting those cities. very profitable lines
20 Lake Minnetcnka. Fort Smelling. South
St Paul. and other suburban towns It's
capitalization is sz20C1o09 authorized com
mon stock. OF which S-0156O0 Is issued.
ana 100000 per cent cumulative pre-
ferred. authorized and issued. Since 1872
the company has paid regular dividends
Of : Der cent on its common stock Its
bonded debt is as follows