The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1911-11-02
SOUTHERN RAILWAY
WONDERFUL GROWTH OF THIS
GREAT TRUNK LINE.

What It Is Doing for the South Gen.
orally and the Towns Along Its
Lines Specially.
The financial and Commercial
Chronicle, reviewing the annual
statement of the Southern Railway
Company, issued this month, con:
meets the showing made in that re-
port directly with the recent mark.
ed development and commercial and
industrial advancement Of the South
and characterizes the report itself as
"a record of marvellous, growth ano
Development Either is, interesting
comments to the Southerner; both
are more so, in view of the fact that
gross revenues, net revenues, trade
and traffic statistics are the best in
the company's history.
The lengh of road operated in
1900 was 6,306 miles, which earned
a gross operating revenue Of $751;
200.870. In 1911 the total mileage
was 7,042 and the gross operating
revenue SCI, ,696,1S1. Thus, with on
ly 10 per cent additional mileage
there has been an expansion accord
ing to quotation from the annual re-
port of over $50, 100000 in gross re.
ceipts, the ratio Of gain being almost
100 per cent. In 1900 the gross rev.
enues per mile of road were S4,94S;
for 1911 they were sS.761 per mile
The net earnings per mile (after the
deduction of taxes) in the same in
terval increased from $1,486 to ST.
437.
AS result of this great growth.
the income account for the year un-
der review is of a highly gratifying
character. The balance over and a.
bove all expenses and fixed charges
for the IL months is s6,670,003.
This is more than twice the full
per cent dividend to which the $780,
100000 of preferred stock is en-
titled. Dividends we're resumed on
these shares during the year, but ac-
tion was very cautious and conser-
vative, per cent having been pad
last April and another 1 per cent
the present October, the two togeth-
er calling for only $1,200,00D where
as the surplus above the fixed charg-
es, as we have seen was S6,670,003.
| Of the remainder Of the surplus a
round $3,000,000 has been chargeu
off to represent the discount on Sc
curities sold, which at the end of the
previous year had stood at $4,853.-
n 54 and which now a year later (af-
ter allowing for some slight altera-
tions during the IL months) has been
reduced to s1,6SS,O29; $66,045 was
also appropriated for additions and
betterments. Even after these various
deductions and allowances, an undis-
tributed surplus Of s2,403,957 re-
mains on the operations of the IL
months over and above the per cent
paid out in dividends. Commenting
on this showing. the Financial and
Commercial Chronicle says:
The results here recorded could
not have been achieved except for
the advance in operating efficiency
and the broad and liberal policy pur-
sued in the management and conduct
of the property. OF course the South
itself has enjoyed wonderful growth,
but this growth has followed in large
measure from the building up Of the
lines embraced in the Southern Rail
way system and the development OF
their efficiency as public carriers.
Some figures regarding growth in
population which we find in the re-
port bear out this statement in a
striking manner.
These show that the population OF
the stations on the lines Of the
Southern Railway-or at least the
stations of sufficient Importance to
be returned separately-in the 10
years from 1900 to 1910 increased
34.2 per cent, and in the 20 years
from 1890 to 1910 1873 per cent. But
the fact to which we wish to direct
especial attention is that the growth
at these Southern Railway stations
has in every state been larger pro-
portionately than the growth in
population of the state as a whole, in
dicating what the building up of this
system of roads has done for the
communities served.
In Virginia the growth in popu-
lation for the entire state during the
last decade was 11.2 per cent, but
that Of the Southern Railway sta
tions was 10 less than 42.2 per cent;
in North Carolina the growth for
the entire state was 16.5 per cent,
that for Southern Railway stations
CO.'S per cent; in South Carolina l3.1
for the entire state and 25.4 for the
stations; in Georgia III for the state
and S32 for the stations; in Missis-
sippi ! SIS for the state and 47.9 for
the stations, in Tennessee 81 for the
state and 34.1 for the stations; and
in Kentucky &C for the state and
1876 for the stations.
If one looks at the traffic and train
statistics, record of achievement Is
found fully as striking as the growth
in traffic and income. For example
we find that in 1911 the number OF
miles run by the freight trains was
1s..,4 o.oo;,o1,, tbo emma nc in I Q0A