Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-08-03
RAILROAD
PASSESHIGH WATER
MARK OF EARNINGS
Report of President j. F. Hanson
Shows Net Earnings of Over
Two and One Half Million Dol
lars for Past Year.

One of the most interesting and sig
nificant financial documents of the year
is the annual report of President J. f.
Hanson, Of the Central Of Georgia rail-
road, which shows in effect that the net
earnings OF that line have so increased
within the past II months that they
now even exceed those for year 1906-01,
the record year in American railway
traffic The report was submitted yes
terday at a meeting Of the Centrals
board of directors held in the Gambler
building. 1t covers the fiscal year end
ing July 81.
Several circumstances make this
showing particularly notable In the
first place, the Central is now operating,
and has been since September 1, 1907,
under the reduced passenger rate or
2 1-2 cents a mile. In the next place,
the fight Of the A. p. Morgan Grain
company and others against the A. c. L.
the Central of georgia and other roads
Tor an injunction against an increase
in freight rates piVots upon the rail-
roads contention that their earnings
have been greatly falling of. That case
Is now pending before the interstats
commerce commission. 1t Is one of the
most important of this decade, both to
merchants and to the people at large
The fact that the CeHtral's net earnings
have increased and not shrunk will
doubtless bear upon the commissions
decision. 1t certainly will. If similar
reports come from the other railroads
concerned, anu that of the Central -
considered a forerunner Of what those
others will be. 1t is of incidental inter-
est to note that the past twelve months,
has been the CentraPs first year az
Hartman linz.
TIE FIGURES.
Here are the detail figures set forth
in President Hanson's report: Increase
in net earnings for the fiscal year OF
I90s-O9, over the net earnings of the
previous year, $427.373.1 The net
earnings of the previous year, 1s07-0s,
amounted to 32,264,765, so that the net
earnings for the past fiscal year covered
in the report amount to $2,692, 13814.
Just how much this means becomes
evident when it is known that the Gem
trails net earnings for 1906-07. the rich
est of all railroad years, was $2.t76,661,
The simple fact is that during the past
fiscal year, this road has Melted in rey-
enue s215,577 more than in the year
when the nign water mark Of earnings
was attained. II
WILL AFFECT FREIGHT RATES.
1t is that fact which foods the pend-
ing freight rate litigation with specially
Significant light Soothing over year
ago the roads in this territory increased
their freight rates from Ohio and Mis-
sissippi river crossings, giving as their
reason for doing so an alleged falling
| OF in earnings. The foregoing figures
show that the road is undoubtedly re-
covering from the panic.
President Hanson's report sets forth
furthermore. that there has been q de-,
J crease OF S650,o00 in the operating ex-
pjnses OF the road. At the same time.
however, 100000 more was expended.
this year in maintenance OF the proper
| " than last year.
GROSS EARNINGS DECREASE.
The total gross earnings Of the road
for the fiscal year have been $10.901,-
S09.32 against 81 III. o25.7S for the pre-
ceding year. This shows a decrease of
| S215,216 in gross earnings, though the
net earnings show a gain almost double
that decrease.
The operating expenses Of the Gem
| trail for this year have been 1881
| OS6.32 against $S.51s. 977.62 for the year
before.
The increase in net earnings was not
used. for pa-:ng interest on the roads
| income bonds. Instead of that, 1884,
| 7ss03 was expended for improvements.
Besides this, taxes on the stock of the
! Western Railway Of Alabama and the
C. & w. road. aggregating 100000,
was paid.