New-York tribune., 1909-03-19
n. 7. CENTRAL'S REPORT
CROSS E4RNINGS LOWER.
CIT in Operating Expenses Helps
Net 9cith Surplus Il fter Dividends.

The report Of the New York Central & Hudson
yjve- Railroad Company for the year ended De-
c.nnter 81 shows large falling off in earnings as
c,-1nared with the preceding year, but through a
tarp contraction in operating expenses net results
presented a gain Of ss64.557, while after income
rom investments, which declined in the twelve
months S.I04s72, gross income amounted 10 s33-
sn- 92 against s34,0i1 ~ IN 1907 First charges
increased S.7675S7 and net income after this item
Vas se075S76 loss Of S2O07 s52- Dividends Of per
cent were paid, against per cent in the year be-
fore leaving q surplus Of s144,276, a decrease Of
Sags32 Total gross earnings were SSS S49, ,367 as
compared with ssSS6ss in 1901, decrease Of S959,
So 50.
Freight earnings 81. 200 0547 H. q decrease OF
ss z5 s9s 45 The volume of tonnage carried shows
decreases in nearly all Of the classified commodi-
ties The greatest reductions being grain bitumi-
nous coal ores and lumber, The loss in tonnage
Of hturninous coal in part due &c the suspen-
sion If labor IN the Morris Run district during
eight months of the year The average rate ton
= nile received shows a slight Improvement. due
largely the fact that the loss In tonnage of
merchandise other freight of the higher classes
was not pToportionately great In the tonnage
Of commodities Of lower grade. The passenger
earnings were S2s24 49l 5. decrease Of S20I3357 46
This decrease was about equally divided between
local, commutation and interline business. The i'm
migrant business was practically suspended. The
earnings from express traffic were S3,5s4 7I 72 an
increase Of 1885 81
The earnings from transportation Of mails were
y fafsfD
in the first six months were affected. as compared
with the preceding year, by arbitrary reduction
in compensation by Congress. which became ef-
fsctve July / 1897 The expenses OF operation were
ss5Ee0S4 IS, decrease Of SIa3S4 249 10. The per-
centage Of operating expenses to revenue was 1888
per cent. compared With 7706 per cent in the pre-
vious year.
In maintenance OF equipment. the various rep-ir
items show large decreases. due TO the volume OF
idle cars and locomotives. Under the head of
lewals. expenses were charged with aO5L60l 49,
the value Of equipment retired less the amount re-
eeived from sales, scrap. IN the of trans
portation the station, train and locomotive expenses
notably fuel for locomotives show large decrea
The per diem mileage balance decreased S761,-
6s 50. owing 10 a reduction early in the year
from 30 cents TO 25 cents in the per diem
rate. The principal items OF increase in fixed
charges were interest additional per cent gold
debentures Of 1s4, interest equipment trust
tihcstes. and heavier charges for taxes on real
estate The requirements Of the federal and state
commissions entailed considerable additional
and the attendance of counsel and employees at the
numerous hearings before the commissions. The
first annual reports TO the commissions under the
new law have been prepared and fled and the
experience gained IN the preparation Of these re-
ports and the subsequent correspondence with the
commissions. prove that IN view Of the details
demanded the added expense is permanent in its
nature and VIII undoubtedly continue 10 increase.
Extraordinary expenses in the year fol-
lows:
For additions 70 property. charged 70 cost Of
For cansITuotion work On leased lines ana for
Grand Central terminal Improvement,
Lesser companies. 7644SsT 30
o,c 80 n.