The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-11-28
PRESIDENT or CANADIAN PAcl-
Fic TELLS WHAT HIS ROAD
HAS DONE.
PER-T0N MILE REVENUE
Almost Same as That or Roads In
United States Extensions
Made and Boards
Retired

| Chicago. Nov 27,Sir Thomas G..
Shaughnessy president OF the Cana
dian Pacific Railway, has anayed tho
1 fears Of the American railway mana
gers that their contentious for rate
Increases would receive setback II
the management oT the Canadian
i trans-continental system was coAsut
lea Sir Thomas III interviews nefe
said. n hope that popular clamrr
will not operate to prevent the rail-
roads In the States from getting what
| they reasonably need In the way of
rates he said "as a vast amount of
capital ID required to enable them TO
give the service expected This eau
! only be supported and secured by ade
quate revenues"
The fact that the Canadian Pacific
! Railway operates on freight and pas
senger revenues which are practi-
cally the same as those In the United
States. that its per tom mile rate
| shown by the last annual report lis
| almost scientifically the average per
/ ton mile rate of American railways,
and that the Canadian system has ex
tingulshed it's bonded debt, buiit sew
4 eral hundred miles Of extensions each
year out OF earnings, and increased
It's dividends to stockholders TO per
cent, have been rather troubling the
American managements. President
| Shaughnessy made 1t plain that no In
terpretation Of his company's last an
nual report. whica would be enlbar-
rassing 0 American railways need be
I expected.
! The Canadian Pacific reported on a
mileage age ef 81 II ,eaA ea9 at.,i! alse ils
ocean, lake and river steamships The
balance on June 80, 1910. showed the
only remaining bonds to. be the rem.
}, uants of three issues, totaling s39,.
| G2l9GG66. The outstanding capital
4 stock was slS0000 900. including tne
last issue Of $30,000,000 which was
snapped up by investors within few
hours Of the offer.
i The earnings per ton mile from
freight reported by the Canadian Pa
ciic In 1909 was 76 cents, those dur
ing 1910, n cents. Tae total number
of tons carried one mile were l7,772,,
4 0l2,635, an increase over 1909 OF ono
billion and half tons.
4. The land grant Of the Canadian Pa
/, ofic has been kept entirely separate
from the transportation revenues.
The annual report showed sales for
the year ending June 30, Of 3.262..
,illi.70, when amount practically
doubled the surplus in the land grant
fund, from which fund 49, the costs
Of the irrigation projects an dotler
similar undertakings are paid and
leaving the freight ana passenger op-
erations entirely separate and dis
tinct The surplus Ia the land grant
fdnd now is sufficient to retire all
outstanding bonAs and leave large
remaining surplus
In the company's annual report, spe
cifc reference was made TO the land
grant funds, as follows. "The sales
OF agricultural land during the year
aggregated 975,020 acres, for sli,.
4GS, 5GA33 being an average of $t4S4
per acre. Included I'll this area were
l45,f2i acres OF irrigated land, which
brought an average 81 $3.50 per acre.
SO that the average price of the bal
ance was sl2.7S Eer acre" Most Of
7, this revenue to the company now
comes from, Alberta and British Co
; lnmbia. the great irrigation project
{ near Calgary being Of the magntude
to cost ss,500.000. II viii provide wa
n ter for irrigation purposes for l,ln0.
4 400 acres. All OF this work has been
possible through -Tie constant refusal
nj the company 10 increase the capital
stock beyond the actual cash invest.
ments, and at this time tde railway
p and equipment Is appraised at sSi7,-
r 226. .265.S1, in addition to which the
company has steamships OF value
OF slS,460. t6l3S, securities valued at
n $69.0T6,97l ~, together with cash IN
hand amounting to SAC. 5.SlT05. and
I, over Slo.000.000 invested in govern
ment securities. The total asses OF
i the company were reported at S526,-
\ ESQ, ,2Sa.4S, in addition to watch the
company owns 7,53g,T22 acres Of land
in the prairie provinces of Western
Canada, and i.i7i,O9i acres in British
Columbia.
The showing made by the Canadian
Pacific has been regarded as likely
to prove embarrassing 10 American
railroads fir the reason that the cont
pany has quite as much line through
agricultural regions as any road In
the United States and at the same
time handles large amount OF manu-