New-York tribune., 1911-03-22
II. Y. c. REPORT OUT
Railroad Earns More than 8 Per
Cent on S222,729,3oO.
EXPENSES SHOW INCREASE
While Gross Earnings Are Larg-
er than in 1909, Net Rev
enue Falls OFT.

o.r cent. earned in the year ended
,.csmber 81. 1910 a trihe more than per
On its 500. ~. 600 stock outstanding
oo,ains TO the figures of It's report just
..oa Gross earnings in the twelve
.be were s999oS.i as. an increase Of So
-..s,7 over 1909. while net earnings were
.. ga Sql. A decrease of &,1ie6i2 from tne
-..oding year, the percentage OF expenses
avenues showing a gain on 80
.,,,stde operations there was net loss
,uS77S leaving net revenue from al
oes S25.7lO6iS. a decrease Of So'5'oS9'
nv The deduction Of taxes accrued total
ting income was S2l.cl2 1S6. Othor IN
eo,oe including dividends OF sll'Ioo'''e on
.,,css owned OF controlled. amounted 10
g, rs seq. against Sll392,&9 I'm 1902 maNi's
.-oss corporate income $50, ,i59,lle. A gam OF
- &c over the same item IN the year be-
fore ..-...,,,o
o.d,ctiors from gross corporate income
..1obeJ total Of $92170,4iS Of when
,.n,als OF leased lines supplied SloV9S'Z'l
-, Interest on funded debt S9l62.Ol9. leaN-
a. NET corporate income OF Ni'2bS'o'-'
..sr the rayment Of dividends there was
s,rrirs for the wear Of S3-A9li' al OF
.si-, wss appropriated for additions ana
,,,,arr,ents In the year before the sur
- was 81. .76c 81. which was carried 10
-, and loss account Balance 10 TINS
s.,o,n, on December ci, i909 vas S7'i''''
- srsins, which there was charged IN
,.,, OIL 81 for various items. abandoned
.-.,.r,e. .urrlying Sa7a.65o The total gross
t.rfn 4
g., so SIS an Increase Of S7.ooe6'l over lF'f
AZ sources Of revenue showed q gam "'H
..A exception Of the mail service
4bs rsvenue from passengers amonn'ed 20
.,sa, S51. an increase Of 81 e2o.s4i oo An
',.r.ase IN the number Of local pa ssenseIs
lied of f.el1qe0 and an increase Of eS"is'
~ ,.,ouutstion passengers carried. "lth q
IN increase i'm the average distance ~
lie and Oh the average receipts mle'
.,or that the passenger traf1c over thls
.,rr.nvs lines continues lin a satisfactory
.-s...-- T-e revenue from express trafnc
,ss;.1.-->s 81 an increase Of $4'.'HV - que
o, IN enlarged volume Of business. Inc
<,rs,se- NJ rail operations amounted 70
=, ,-a ns, s. an increase Of Ee.i>'2s" -. me
ors-s.jr- expenses hy groups were Nam
,snan,e Of way ana structures. Sli'"'. ID s5'
-rsi7torancs II equipment. SlSeS" ." -
,-.H, expenses ;24512-7 -. transportation
s,rArsss t78s: So general expenses
q =. III a, snd outside operations. Sis'''-
va
u maintenance # 0'aN ana s'Fur'uI p ti'7
-. increased largely IN every item. due 10
. sres'er l9-orn" % work heins necessa-
nsr IN ths previous vesr. 12o14 tons Of ne"
-s., MOST Of them cf the eish'N-Pou'-u
g.. - IN increased average cost. haN'n4
tsa7 lsid m excess Of the totai ~ tho year
p. sr5 aprroxiraa'eiv 5000 additional ne"
..s ~rsccd these two items accounting l'I
cr;o-7 = N tie increase Signal and inter
,,.r+r7 rlsrts called tor ar OUTLAY ol
,,a ., q. larger than IN 1s.a. huildings'
aY,,rss and zround: an additional Ssieo3l T.
as roralrs Of bridge, trestles and cu!Ver's
s55ss sco4 6l7 . 70 the total increase
T., r,,int4nance Of equipment on increase
>. 1s,3 sn5 nS is shown. due malnlN 70
..--s,, increased charge for repairs ~
,...r, r--omctives md passenger cars
r-.4-- e.2.nses. being those charses ~
,s-rss .r soliciting arr procuring tFslIlc
,,.,i84 II rs actual movement q. lai'.
...~,,a5 - 2.s72 - 4. an increase 81
,r;ya;s mainly due - larger payments
s,- outside AGENCIES srd eXpentos ~ lss'
,..gb, ma, The COS. Of portatloh
.,oo-s '.~-s increases n nearly all oi me
.,.,gr.s The most noticeable being N tuel
s.- locomotives. those engaged in Safos
..ry ,hsrs,d with sl7e4;l 81 more than ID
,,as and nose IL general service on ne
,,-4 ,,Y.3.s=' Que 70 increased cost ard
., ,5s greater amount Of rCrk rerfoFm-o
.pr4ssz.s1 So IN increase O. 5'sl'.Sst nii-eS'
4s.a engine having averaged - Hao!e
nile. The nsw Yates of rav arranged -
ne sar.v part q the ye3r have peeA -
sp3rsi5,e for hesy~ increases ~ 'hs cost
n ta-scortaton Ens.nemen have Is
pe,,sd s;--se4 = ard tralnmen tl-as'+97 -
ro-e thar ~ tie wear 1888 some o. theSe
Increases are d1e 81 larger ope!aup!l'' i''
Gcs.es tv th. greater mileage Of lpcoiho
tees sr increase ri 2531.52. miles traVeileo
:. ,vs,rs and Of a5s39517 miles b. cars' out
ne larger portion Of them Is caused nF 'I'e
in-rsass N tire rates Of wages. ne ',,'i
Increase ,u cost ~ transportation ls f'''-''
-. e. ncerlv Is per cent
o General exrenses show an incre@s9 -
g., SIS a. principally IN the items OF
,>rs nd general cfice clerks and expenses
Taxes have increased S2s2,52l g. IN "hiC"
e Included 5000. 4 Tor tie tax on tns
i-co,~o of corporations levied by the teu'
ca eoyernmsrt and paid by the COMPANY
O. tehelr NJ itself and various leased INES
Interest on bonds Of the companN SHOWS
o. Increase ri S2sSseS o. due to the issue
during -e-. ~ g. $4,000 additional go'1 de-
ser'sres ~ -sn. and the payment of fun
,ssr's interest uron The Spuyten Du}Nh ~
For Nc-r Railroad mortgage bonus. I"-
tsgsst or equipment trust certincaieS IL
cIesss5 :stts, g. 5lo 10 the issue "i 'ti
rce.ee urd fra trust agreement OF l'''
et.aT Interest deere sed $S5o1& 30 due Pf'h-
opslly % the retirement Of the thiee-N'''
lSt notes ~ Ic- Extraordinary oNpendl-
'.res ~ tfa year were {l91c472}. OF "hl'H
NF,tC represented construction W"fh on
'ts Grad Central terminal Improvements
IN ADDITION tHcrr was added 20 tho prop
Hr. ull.- fine head of trust equipment
Nk5er1 10 cover the value of equipment
eei'sred u-de, the agreements of 1901 an"
ga
To obta.r the locomotives and cars uecos-
'e'y 'or Immediate requirements. the Ne"
i'rk Central s. Hudson River Rdiitoa"
t-mpaHy. together with the Lake Sn0rc .
Michigan southern Railway Company '"e
AcasaI central Railroad COmpan,' ''e
Cie'slatd. Cincinnati. Chicago & -. LOUIS
ne wsy COMPANY aud tho Chicago. ludlahf
Southern Railroad Company has become
PARTY to am Equipment trust as. cement
sho lease dated January :. 1910 Know" as
ue Ne York Central Lines Equipment
must of 1870" This agreement provides
icr an issue Of t3t00).Coo of equipment trust
'''uacates. bearing interest al ~ per cent
yer. being % per cent Of the total cost
N ihe equipment to be furnished under the
Terms of said agreement I.Crdcy 30 aVrid