The citizen. (Honesdale, Pa.) 1908-1914, 1910-08-26
BUSINESS OF THE ERIE.
Earnings Very Favorable and Officers
Talk i'm Optimistic Tones.


Talk in Optimistic Tones.
Earnings of the Erie Railroad
company for the fiscal year ended
June 80 last were the most favor
able ever previously published in the
history of the company, so far as the
gross Is concerned, while the net ex-
ceeded any previous year as far bacN
as 1903, which was a most excep-
tional year. 1t is significant that
the Erie should have been able to
show surplus for the year sufficient
in volume to have met full 4 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 cent.
on the S112,37S,900 now outstand-
ing. Deducting the S737,OS7 charg-
ed to income for additions and bet
terments during the year, il Is found
that there is still left a balance or
surplus sufficient to meet full per
cent. requirements of the preferred
stocks and have left a balance avail
able for the common equal to 2.23
per cent. on the outstanding amount
mentioned above.
The showing by the company for
the last fiscal period was even better
than had been expected, although it
was foregone conclusion that the
final operating results for the IL
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
increase of about S1,00O,000, or
33.44 per cent. as compared with the
year previous, the improvement hav-
I ing been the rsult 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 for 1910 becomes the more
significant Since that time the
property has undergone consider
able amount of improvement and de-
velopment, its cars and engines have
been raised to a higher standard of
efficiency, as well as new ones added,
so that at the present time the road
is in condition to operate effectively
at all times. Quite in contrast with
few years ago the present SER
vice of the road, as its freight and
passenger business is now handled
promptly and considerable prestige
is being gained for the property 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 a gain
of % 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
position to speak with authority. was
the result of the excellent condition
of the company's engines and rolling
stock as a 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 companys business. One of
these, and perhaps the most import
ant, was the completion of the open
cut through Bergen hill, back of Jer-
sey City. Several other cutoffs which
have been completed will eventually
mean a great saving for the COM
pany and increased gross earnings.
1t would seem, then, that a cOntinu-
ance of the present policy of turning
back surplus into rehabilitation OF
the property will in the long run
prove very beneficial.-New York
News Bureau.