The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-11-08
c, & 0. or IND. CUTS
OPERATING RESULTS
Causes c. 4 o. to Not Do So
Well In First Quarter, but
Not Alarmingly So.
STEVENS VIEW OF SUIT
oogo NOT BELIEVE GOVERNORS
MOVE WAS ron POLITICAL .PUR.
Poege-MAY &c IN CITY TO
CONSULT ATTORNEYS.

The acquisition OF the Chesapeake
and Ohio OF Indiana. formerly the c..
G. 4 L. r. r.. by the Chesapeake and
Ohio railroad cut down the general
operating results on the main line due
TO the fact that the roadbed and other
conditions on the Indiana road are
not up to the standard maintained on
the older line. President George w.
Stevens OF the Chesapeake and Ohio
while In Cincinnati on Monday. dis
cussed conditions generally on both
roads. We will make a further in
vestigation In regard to the suit which
Governor Marshall had filed against
the stockholders Of the C. & o. OF In
diana In Logansport recently and may
como TO this city on this mission as
Robbins and Robbins have been re-
tanned ~ head counsel by the road In
this case.
While IN Cincinnati he was asked
n he thought Governor Marshalrs &C
ton was for political purpose.
President Stevens replied. "No. I do
not think SO. While 1t has been in
timated that such was the case. do
NOT DeIleve u.
7.se Per Cent. EarnInss.
Figures received in Cincinnati last
night show that the Chesapeake and
Ohio's operation for the first quarter
Of the new fiscal year shows sur
plus for dividends Of $1.1S9.62S, de-
crease Of 3475.231 from the same
period Of q year ago. It Is figured
out that this indicates stock earnings
TOR the year Of 7.56 per cent. The
tirst quarter of 1909 indicated 1860
per cent. and the actual result was
l0.0s per cent.
The decrease In the dividend sur
plus, however. Is easily explained. as
the road has been making extensive
improvements. The gross earnings OF
che road for the first quarter Of the
new fiscal year show an increase OF
eS14.479. or 1914 per cent. AS last
year was banner one In the history
Of the road. officials Of the road con-
slider the report In q favorable light.
Operating Results.
Operating results OF the Chesapeake
end Ohio during the quarter have not
made . good showing. While the
gross shows 1914 per cent increase,
here was an expansion of 27.7 per
sent In the cost Of conducting trans.
portation. traffic and general expenses.
The ratio Of these three accounts to
gross has jumped from 49, per cent.
last year to 32.6 per cent. This diff.
ference Of ~ per cent. Id the ratio
shows that approximately $37S.000 has
ssen clipped from the net earnings,
figuring on the basis of tho roads
100000 on the gross OF the last
quarter.
The decrease In the ratio represents
the cost Of lowered efficiency in opera.
tion. due to more difficult conditions
The Chesapeake and Ohio Of Indiana
formerly the c.. c. q l., ID not In as
good physical condition AZ the main
Tine Of the G. and o., and naturally
does . smaller gross business per mile
which means that the operating ratio
10 higher there. and pulls up the
Same item for the entire road. A
year ago the road did not have this
condition to contend with In the first
quarter.
President Stevens II also taking In
terest In the forthcoming suit at Lo
gansport, Ind, against the Chesapeake
and Ohio Of Indiana. which was start
cd at the instigation Of Governor
Marshall. Of Indiana. Asked II he re
garded the move OF Governor Marshal
40 = political play. President Stevens
stated: mo. do not. While II hal
been intimated that such was the case
do not believe IT.