Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1912-11-16
BALTIMORE AND
OH|O'S BIG YEAR

UnlU } blu l[AK
The annual report Of the Baltimore
q Ohio Railroad Co, oyerine its eigh.
ty-sixth year, which ended June 30,
1912, has Just been issued. The net
addition 10 the credit OF profit and
loss for the year was S2,302.011 10,
making the total amount to the cred
Il of that account $40.754, 430.9g. The
income account shows gross earnings,
rail operations, S92.594,322; Increase.
S4,449.3l9; total expenses, rail opera
lions. $64, 709537i increase. 81 ,943 .470,
ct earnings from operation, $27,SS4.
7S5; inrease, S2,50j, s4s; percentage
age Of expenses 10 earnings, 69.88. de-
crease, l33, outside operations, def
cit, $G66,G39; decrease, S51S,327 Z; total
net revenue. $27,21S,145; Increase,
! ~ .97s.520; operating income after
payment OF taxes, s24, 49,
laG increase, s1,59s,s22; gross corpor-
ate income, $2S,G24ie2; increase ST..
093 ,f29; net corporated income after
payment OF interest, rentals, hire OF
equipment, etc, s13,s98.05S; increase,
81 07s. 0G7 Out Of this were paid div
idonds Of per cent. on the preferred
stock amounting to s2,S55.05S also
dividends of 6 per cent. on the com
mon stock, amounting TO $9l21,072. i.
The balance-sheet shows total as.
sets OF $622,377241, which includes
the road and equipmen,, etc, at $685.
400 ,6S4. Securities and other invest
ments add nearly S2fi 900 900 to the
j property and otner investments of the
company.
/ Receipts from freight traffic were
nearly $72,500,000, the increase there
in being not far short OF S4900,000.
Average earnings per ton per mile
were $50 per cent, an increase of
002 cent, this being ascribed to hand
ling a larger proportion Of higher
class freight. Earnings from passen-
ger traffic decreased very nearly 3
per cent, although over 100000 more
passengers were carried. The de-
crease was in the number of miles
/ each passenger travelled
There was an incresse of nearly Is
per cent. in taxes.
4 The report embodies a striking
summary concerning the extensive
! program of additions and betterments
1 authorized by the directors during the
/ last three years. II is stated that
most of the important Improvement
work has been completed, and refer
! ence is made to the operations of the
/ year as indicating something of the
I benefits to be expected from II. With
reference to this IL Is observed that
i the company was enabled during the
past year to carry 7S6.S79,352 addi-
/ tional tons one mile, or an increase
/ of 6.72 per cent, with no additional
transportation cost" IN fact there
was a decrease of s67 as compar-
ed with the next preceding year. This
is due largely to increasing the aver
age trainload from something more
/ than 440 tons to over 554 tons, or
nearly 26 per cent When all the
work under way is completed 1t is be-
/ ieyed that a considerably larger vol
une of business may be handled and
/ with more marked economy
Continuing along this line, the re-
port says: The Immediate response
to these increased facilities however
III the way of additional developments
on the companys lines suggest the
necessity in the near future of furth-
er expansion, particularly at terminal
points, nd the edition of equipment
( necessary TO care for the constantly
I growing traffic"
\ Equipment acquired during the year
embraced 105 locomotives, rs steel
1 passenger cars, 1914 new freight cars,
1 400 reconstructed freight cars.
work cars, tugboat, a steel ar float
and lighter. Equipment in service
has been well maintained and liber-
al amount charged TO operating ex-
. penses for depreciation. The total
charged to capital account for equip
ment for the year was $75S6,42O.
II is interesting to observe, as re-
vealing the extent of the company's
business that its entire earnings from
both rail and outside operations dur
ing the year amounted to more than
$94, 600.