Evening journal., 1912-01-11
DELAWARE
ROADEARNINGS
Net Income Reported $42,l9O
Above That Of Preceding
Year
FERRON SATISFIED
WITH FINANCIAL RETURNS

Special to THE EVENING JOURNAL.
DOVER. Del, Jan. 11.-At the an
ual meeting of the Delaware Railroad
Company today President J. p. Green
gave his report in book form. pre-
senting a review of the Delaware
Railroad during the past year and a
statement of its conditions. The re-
port gives no increase in the total
mileage owned by the company which
still stands at 245.15 miles. AS it is
leased company, the report shows no
passenger and freight accounts. Under
the general income account, was given
the rental received from the lease
$447. .764.00. an increase of S57 7.107.30.
Interest from the general account,
81 ,494.30, a decrease of S6.241.22. Divi-
dends and interest on securities own
ed and in the treasury Of the Della
ware Railroad, $26,47S.00, an increase
of S3,663.7S. Interest ON cash and Sc
curities' in the Betterment and I'M
provement fund. s14,661.36, an in
crease of S69391. The gross income
is $3.50, 1896, which is an increase OF
S53. 1885.
Deduction accounts were given by
the report as follows: Interest on the
Delaware Railroad Company funded
debt S3S,50O. Organization expenses
$2,0S1.7O, an increase of S44S.37. De.
ductions from rent. nothing, a de.
crease of $254.43. Hire of equipment
nothing, a decrease of $25.714.S4. Two
semi-annual dividends. on June /, 1911
and on January l. 1912, each s203, ,13l
an increase Of $67,711. The total de.
ductions are $446 S43.7O, an increase OF
SAP, 1000.
The net income is $43,553.96. an in.
crease Of S11,645.35.
Addressing the meeting. President
Green said: "In pursuance of the pro-
gram approved by your board. further
| expenditures we're made during the
year upon second track; passing sid
ings at Bear, Armstrong, Clayton, Colt
| Dover, Harrington, Pennington anC
Bridgeville; additional terminal facili
ties at Delmar; improved block signals
at Seaford and New Castle: telephone
connection between Clayton and Ok
ford; the new passenger station a
Dover The completion Of the station
at thai point gives to the capital of tn,
state a building worthy of its loca
tion, and the action taken by YOU
company in this respect has beer
thoroughly appreciated by the com
munity which il serves. Details of th'
expenditures itcmize as follows: Sec
ond track. from Broad Creek to Laurel
and south of Harrington, S7O,959 80
passing sidings at stations named
S4S, S,917.91; terminal facilities, Delmar
$S,O41.55; block signals, Seaford AM
} New Castle, S639,17; telephone con
J nections between Clayton and oxford
S3,961.25; freight facilities at Dovel
S4,S31.61.
J "The total cost of the station at Dc
yer was $201, ,92798. For the right {
way the company paid S5,333S9.
will be noted that I'm accordance wit
the report adopted by the Interstat
Commerce Commission, the charge {
cost upon your balance sheet has bee
divided to show separate expenditure
in connection herewith since june
1907 In addition, several Othe
changes have been made in the hear
ings of accounts"
The president reported the appoint
ment of II. c. Booz as assistant chic
engineer. Minutes were adopted con
tinuing the agreement of 1906 with tn
Philadelphia. Washington, and Balti
more Railroad covering the use by tn
Delaware Railroad Company of tn
facilities furnished by the Edge Moo
yard.
The auditors. Henry W Baker
George NJ. Fisher and w. A. Scott
reported their finding of the account
correct.
Charles Ferron. the young Philadel
phia financier, who started the agita
ton two years ago for extra dividend
and better results to the stockholders
claiming the Delaware Railroad wa
one of the richest in the world, wa
present at today's meeting, and state
that the minority stockholders wer
thoroughly satisfied, and praised tn
efficiency of President Green.