New-York tribune., 1911-09-21
LgHIGH VALLEY REPORT
Higher Wages Chief Factor in Com.
pany's Increased Operating Costs.

! The Lehigh Valley Railroad Company re-.
ports for the year ended June 20, 1911, total
operating revenue OF %IbS1io5, AIT increass
OF 81 ,529,co3 operating expenses. OF s.s.fN.
/ 319 an increase Of Sl,723 III, and net opey
ating revenue Of sl4.2s0,0A, a decrease os
/ S2J3, 165. comparisons being made with ths
, preceding year After additions for other
/ income and deductions for taxes, rentals
| interest betterments and dividends Then,
was a surplus Of S.ll0S6S The road earned
! a little more than IA per cent on It's stock
The higher rates OF wages were resDon.
I sible for considerable increase in ex-
penses during the year To this singls
( factor" says E. B. Thomas, president ot
the road In his report. may be ascribed
almost entirely the increase in operating
expenses. apart from that naturally result
! Ing from the transportation Of a greater
volume Of traffic" Though the total oper-
ating revenues Increased N,52O0G over ths
preceding year, the heavier expenses caused
o decrease In net revenue or S103l6o. Tbs
wage advance is reflected In another way
in the increase of 2l6 per cent IN the ratio
I cf expenses to revenue.
II was upon the cost Of conducting trans
portation that the wage advance had its
principal effect. This item increased frOu
$40, 1856 TO Slly9!e,zIS. OF the total operat-
Ing expenses labor received directly S%
per cent OF sl5.002,l66 distributed ainonc
an average Of 81 6d employees 4 contTtbu-
tiou Of A62ll was made by the company 70
the employees relief fund, this amount
being equal TO the payments Of tho em-
ployes themselves.
AS in the past, the company continued
the policy Of making ample expenditures
10 maintain the property in It's high con-
dltion For maintenance OF way and
structures the amount expended was 81
go 176, an increase Of 4@ per cent, and for
maintenance Of equipment 5000, 2sS. An in.
crease OF 70 per cent. Included In the ex-
penses for maintenance OF equipment Is
charge Of Sl,02.770 for depreciation, as
called for I'm the classification Of accounts
prescribed by the Interstate Commerce
Commission
A notable increase in revenue from coal
Is shown In the report Excluding that
used by the company Itself, the coal and
coke transported amounted 10 l5.5@,1D
tons; this was an increase OF lo55,354 or
II 08 per cent over the preceding year. rFs
revenue from this class OF freight v'as
Sl7, l55 53i, an increase Of $50 per cent. c6A
supplied NsS per cent Of the total tor.
mage. A slight decrease Of .8 per cent
was suffered In the revenue from nler-
chandise freight, but the revenue from coal
and merchandise freight combined IN
creased $l.263.228 or 4.lS per cent. The en-.
tire freight tonnage was &,5l23l2 an TO-
crease Of 4e0 per cent.
The passenger revenue increased sz51 81
or $40 per cent. to total Of si56s0z3 Tbs
number Of passengers carried vas 525eTI
more than last year By 1878. The prop.
erty has been thoroughly maintained and
Il is In most excellent and efficient cor.
dition The high standard OF service fur.
nished shippers and the travelling publin
has likewise been sustained and new netr.
DDS for its further improvement sior,Af
as conditions would warrant