New-York tribune., 1910-10-20
GREAT NoRTHERN's REPORT
Earnings in Last Fiscal Year Best in
Comuany's History.

The Great Northern Railway Cornnsrz
! reports for the year enuSu June 30. 1910.
! gross onera+inr revenues of $84. 465 1863 81 an
| increase Of S10 ~ q25 20 over the year ba
| fore. or zoos per cent me Improvement
/ noted in the preceding year ; report be-
| ginning shortly before Feoruary, 1909, con-
! tinued IN the entire fiscal year, resultinr
4 In the largest earnings Ior one year ever
! reported by the company. VI the total in
! crease reS;en1Ies from transportation show,
! SO T42 c05 % ~ % % per cent, and revenues
! from opera tiOus other than transportation
! $Sa,S20 Oh. or Il. IS per cent. freight revenue
increased S2l0. go %. or Io2l per cent
Number of tons of revenue freight hauled
Increased 5.127 70S tons, or ZS.33 per cent;
number of tons hauled one mile increased
S36SIA6I5 or Il 2S per cent: average distance
haul for each ron was 244.5l miles a de-
crease Of 23.04 miles. or Sol rer cent. and
average revenue a Ton InIle increased
$4,000 of cent or eigh1-tenths Of l per
cent This small increase comes not from
advances in freight rates ott from changes
IN the class and character OF trafnc handled
and from a greater relative increase in
volume of short haul when compared with
long haul traffic. as is shown by the de-
crease in length Of average hauL
Passenger train revenue increased S3,473,
329 IS or o s3 per cent, of which passenger
revenue was s.. 333. s5i So. or 6OST per cent.
Number of passengers carried increased l.
ASH, or Is g6 per cent. and each passenger
travelled an average distance of IT'S miles.
an increase of 9.67 miles, or 1419 per cent,
thus accounting for the increase of los. .923,-
6lS, or 32.41 per cent. in number Of paSSen-
gers carried one mile The average revenue
a passenger a mile was 2204 cents, a de-
crease Of $4,000 of a cent, or L56 per
cent
Operating expenses increased S. sos IS,
or 2066 per cent. in somewhat greater ratio
than the increase in gross revenues; main
tenance Of way and structures increased
s. .9759 943 &. or 20I7 per cent; maintenance
OF equipment increased Sl,S46,IS7 90, or 21.S1
per cent, and represents greater expendit-
ure for repairs of locomotives and cars, due
TO greater volume OF traffic, higher wages
and increased cost or materials.
Transportation expenses increased $685.
119 So or 2l9 per cent, against an increase
of % 09 per cent in amount of revenue from
ansportation. Cost ratio of handling traf-
fic is said to decrease as traffic volume in
creaSes. but the above percentages show
that because of higher wages and prices
for material transportation required the
expenditure of a larger percentage of reve-
nue. this year than a year ago, notWlth-
standing the average load a freight car and
average number Of cars hauled in freight
trains both increased. The result was an
average load of 51S.5S tons freight train
mile, an increase of 162S5 tons, or 3.24 per
cent over 1903 and an expenditure OF 60.93
per cent OF gross operating revenues for
operating expenses, against 60.6 per cent
Taxes Increased $999, 500 IS. or $50 per cent.
This year the taxes amount 10 A94 per
cent of the total net revenue of SO, ~
2S2 s.. The increase in taxes IS not all due
to increase in revenues, for in only one
state, Minnesota, are taxes based on gross
earnings. OF this total increase S6Jo,S3l 80
was IN Canada and in states other than
Minnesota After the deduction of taxes
accrued there was a total operating income
OF SCI. .S56, $50 and after the addition of other
income 4 total gross corporate income OF
Sc 113. 500 After rentals. interest, etc, the
net corporate income was Nl.1 191. S24. and
after dividends a surplus OF S3O92l61,
against 81, ,7S9, 1851 in the year before.
There was expended IN the year Tor addi-
tiOns and betteTmentS on properties owned
by the Great Northern Railway Company
the sum Of s.. 900, PA e.. OF this amount
s. 236 0S6 Il, the cost of additions, IS COns1d-
cred as paid from capital account; the cost
Of hetterments, S2S19,158 81, has been
charged against the fund for permanent
improvements and betterments and has
been credited 10 cost Of additions and bet
paid for from fund for permanent
improvements and bettermentS. The fund
last mentioned has been credited $25O9,lo0 81
IN the year, made UP as follows: S25l9,l28 "a
from the surplus income for the year, $l9,-
0S2 3 net proceeds from the sale or town
lots and lands not forming portion or the
railway property or land grant. and Nu,-
459 s. the credit balance in an account that
has been closed into the fund instead or
into prOnt and loss. -.
The net corporate income of &I'7s1,S24
was equal 10 a little more than SIS per cent
on the outstanding capital stock of S-9,-
aSI. 800 There was 4 decrease IN the year
of 81 900 IN the amount OF bonds. the
pavnent of which is assumed by the Great
Northern Railway. and an increase IN the
amount Of bonds in the hands OF the pup
lie of So $50. go