New-York tribune., 1911-09-20
B. 3. rs YEARLY REPORT
President Williams Discusses
the Subway Situation.

In his annual report to stockholders r.
r Williams. president Of the Brooklyn
Rapid Transit Company, SAYS in part. re-
gardiug tho construction Of future sub
ways.
Upon their completion and upon the
award, if made in accordance with the de
Clared policy and EXPRESSED sentiment OF
the two official bodies, the Brooklyn Rapid
transit, through the instrumentality ot
new corporation 10 be organized for that
purpose, and with the cooperation of eX-
A, ting railroad companies. VIII be furnished
with the necessary authority TO undertake
the execution Of much larger plan Of
transportation than 1t originally proposed
involving The expenditure Of much add-
uonal money and operation over much
wider territory.
The Brooklyn Rapid Transit. through its
lew instrumentality. while procuring its
distribu ion line in Manhattan and the en-
ldrgement asked for in Brooklyn and
Queens, viii no longer be a local corpora
ton, serving the people OF two bOrOughs,
but "A greater New York corporation. Serv-
ing the people Of five bOroughs The con-
CitlOns which have brought about this sit
uatiOn have not been Of our seeking. but
the responsibility which il involves will
not be evaded. and the opportunity which
IL affords for public service will not be
ignored. In the disnterested purpose and
intelligent consideration which marked the
precedent official conferences. and in the
subsequent declaration Of principles UDOu
which the citNs representatives acted. a
Ttw chapter was written I'm the history OF
municipal transit, and new standard Of
cftclal conduct and performance was cs-
tabiishod.
Mr.. Williams states that under the terms
Of the proposed contract with the city the
operation Of the new lines will be called
upon TO spend 81. 600 I'm construction and
equipment. and that this amount has al
Zoo.
Rapid Transit directors. The company
reports for the year ended June 30. 1911,
gross earnings Of s2l.9s6.5i3, against 500
979.5l4 in the year before: operating OK
penses Of S12.165 S57. against ST, ,737.llO and
net earnings Of 81, .176. a gain Of s577. .772.
Detailed figures for three years follow:
1911 1910 1909
Gross earnings S2l gs6543 $50 9795 5I4 SI9 sa4 ace
oper. expenses. l2.l66.367 II 737 10 1884 855
Net earnings. 50 s20t7 Sg.e42 4Ot IS. 2aa S07
Other income. 29T.52f 21S9l4 605. 81
Total income s1o.1177oo so.521.2is sc .eO5. .e25
Chgs q taxes. 6.969-2l 6.99G 600 6.9G9 Ol5
Surplus s8,14s. 40 S2.6lL5o5 81. $50 coo
Spl approp. ..-. Ss535 i0SJ6D GJ43O
surplus .-.... sa,o59o44 s2.5o8.oa5 sI,s71179
Misc. items 90 isj -
surp. for W. s305a944 S2.572 200 S1.s71i7o
Prev. surplus. 4.7Sl O3J 4.&S7 230 $3.50 460
Total surplus S7.S4O H79 So $50 450 s., 724 $50
Disc on bonds. 50 so
Balance ..... S7.Sfo979 Sc $50 40 s5c35.oG4
Pes. nvp. and
losses ........ 17Oso4 271 400 342.O21
Balance ..... fT.G7O.OS5 81. .Gs7 POS S.. 2g3 O32
Dividends ...... 2242 800 1.9O6 2sG SQ7 J76
Balance ..... s.. .4a7.Sa5 "a. .7sl.67I S4, ,395 o57
Ola adj acct. 636 s7o7
r. .l L. surp. s.. 427, 395 S4.7st,O35 S4.3s7 go
Equal 70 9 ~ per cent earned S45. 600 600
Brooklyn Rauid Transit stock outstanding, as
compared with = So per cent earned on same
stock prov ious wear.