New-York tribune., 1911-03-22
SJie $50. G.l+4 Ol
ii NBlLITIES
Sii2. 236. IA 0t
Lake Shore & Michigan Southern.

The Lake Shore & Michigan Southern
Railway reports for the year ended De
cember 81 1910. operating revenue OF $40
ie02ll an increase of S.309.2l4 over the
year before Revenue derived from trans
portauon Of freight amounted 10 sS2,e4s-
532 %. an increase OF t29ll.25s 90 due to the
greater tonnage handled the principal IN
creaSes being I'm hitumnous coal ores
other mineral and manufactured products
Passenger revenue was s1l.130lof7s an in
crease of 1915 9e4 81. due 20 a larger number
Of both interline and local passengers car
ried. The revenue from transportation Of
mails was S2.l2A2l4 II. an increase of S1 Il.
Revenue from express traffic was sl,Si9-
3i- So, an increase Of Sli132o 10. Other pas
senger train revenue. including excess bag
gage and milk. amounted to $3.50, ~ 80. an
increase Of s5l,5n %. Switching and other
transportation revenue amounted to s57s,
6iS So. an increase Of s75.i6s "a. due prin-
cipally to larger receipts from switching
service Other than transportation revc-
nues were $0oe90 T.. an increase Of tli5-
"a -. due mainly TO larger collections Of
car demurrage and additional revenue de-
rived from the rental Of buildings and
other property. operating expenses FOR
the year amounted 10 s3l.e2o9S2 ao an in
crease Of $6Sa7.2d S.
IN maintenance Of way ana structures
there were included large expenditures for
ballas,inc 3l5 miles Of main line track
with stone. changing trafiic from left hand
70 right hand running and general repai'
end renewals Of bridge structures, hui'd'
ings and fixtures There was also large
increase in maintenance Of roadway ana
track expenses due ~ additional main
track built and resulting greater mileage
Of main tracks 70 maintain Maintenance
Of way employees we're granted an increase
in wages in the early part of the year
which added so9i1el 10 maintenance OK
renses Increases IN maintenance Of equip
n,ent expenses I'm the wear were largely at
tributable 10 the following causes 40
vances IN rates Of pay granted % shopmeh.
azcregstirc N5l.a7a a. higher prices paid
for materials purchase rerresentins ar IN
crea se6 cost Of S20S,7Oo heavy charges III
repairs due 70 equippirg q large number
Of locomotives With improved devices such
as stokers superheaters. etc. The remain
ing increases are principally due 70 addi-
tional mileage Of equipment IN service IN
the year
In the year the conipan- acquired ~
purchase 4027 shares of stock Of the
Kansvha & Michigan Railway COMPANY
so n01 shares Or stock 81 the fittsburs &
lake Erie Railroad Compan~. al of the
outstanding capital stock of the Toledo &
Ohio Central Railway Company. pelng
57.O14 shares Of preferred stock ana a1'i9s
shares Of common stock. and 5000 o.
Toledo & Ohio Central Railway Company.
81 Nary-s division. hrst preference w
come bonds The company sold IN the year
= 30 shares of stock Of the Hooking Val
Iev P2tlwav Company and sll,oooQc' ot
jamestown. Franklin & Clearheld kaiiroan
Company first mortgsge bonds.
Net revenue derived from al operauons
was sl44i9562 and total operating income
so "a. .2sn a decrease Of s2S2o,1A After tie
addition of other income there was shoWn
total gross corporate income Of s-a'lsl'49'
a gain Of sl,n1677 The chief gain in other
irCorne was from dividends on securities
owned PAYMENTS for interest on ecndeo
debt etc left nst corporate income @
s1e 7s7.o8s. ageinst Sl2M75s IN 100 snd
aftsr dividends Of IS per cent on the stock
snrr,r. was s..s63os5 2 decrease Of S.e's
30 In fo,a dividends we're Z per cen' The
rs1aoo4 70 credit Of profit aud loss ao'oun'
-, r,.cer,rer q. 1910. stood Al S-'.I2l-