The Marion daily mirror. (Marion, Ohio) 1892-1912, 1910-08-26
SPLENDID
Of the Erie Railroad Com
pany in Earnings
AND ALSO DIVIDENDS
Only a. Few Years Ago the
Company
Had Serious Troubles and Its Fine
Record for the past Year is o Mat
ter for Congratulation.

Earnings of the Erie Railroad Co.
for the fiscal year ended June 80 last
were the most favorable ever previ-
ously published in the history of the
company, so far as the gross Is con-
cerned, while the net exceeded any
previous year as far back as 1903,
which was a most exceptional year.
II is significant that the Erie should
have been able to show a surplus for
the year sufficient in volume to have
met full per cent dividends on both
classes of preferred stock and at the
same time leave a balance available
for the Junior issue, equal to 2.S9 per
per cent on the S112,S7S,900 now out
standing. Deducting the $737,0s7
charged to income for additions and
betterments during the year, It is
found that there is still balance of
surplus sufficient to meet full 4 per
cent. requirements of the preferred
stocks and have left balance avail
able for the common equal to 2.23 per
cent. on the outstanding amount men,
toned above.
The showing by the company for
the last fiscal period was even better
than had been expected, although II
was foregone conclusion that the
final operating results for the ~
months would be the most gratifying
that had come to light for a number
of years past. "Other income" of the
company enjoyed the phenomenal in
crease of about $i,000,000, or 33.44
per cent, as compared with the year
previous. the Improvement having
been the result of an unusually good
years earnings in the company's coal
department
When consideration is given to the
fact that only couple of years ago
the company was struggling along and
Wall street awaited momentarily the
announcement of a receivership for
the property. the showing of 1910 be-
comes the more significant. Since that
time the property has undergone a
considerable amount of Improvement
and development, its cars and engines
have been raised to a higher standard
of efficiency, as well as new ones add
ed, so that at the present time the
road is in condition to operate ef-
fectively at all times. Quite In con-
trast with few years ago is the
present service of the road, as its
freight and passenger business Is now
handled promptly and considerable
prestige is being gained for the pro-
perty In this respect. Attention Is
called to the fact that in January last,
when snow blockades were prevalent
throughout the country, both East and
West, the Erie showed gain of 22
per cent In car movement, while in
February, when practically the same
conditions prevailed, the Increase was
over IS per cent. This achievement
according to those in a position to
speak with authority, was the result of
the excellent condition of the COM
pany's engines and rolling stock as
whole, and the greater efficiency of
operation.
In the last few years the Erie has
made many improvements which will
before long tend to greatly Increase
the company's business. One of these,
and perhaps the most important, was
the completion of the open cut
through Bergen hill back of Jersey
City. Several other cutoffs which
have been completed will eventually
mean a great saving for the company
and increased gross earnings. 1t would
seem, then, that continuance of the
present policy of turning back sur
plus into rehabilitation of the pro-
perty will in the long run prove very
beneicial.-New York News Bureau.