New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-19
ST. PAUL'S POOR YEAR
Deficit Of Over S5,000,000
After Paying Common Dividend

The report OF the Chicago, Milwaukee
& St Paul Railway Company for the
fiscal year ended June go 1912. shows a
decrease OF nearly 5000 900 I'm gross earn
ings. due to the crop failure OF last year;
a decrease OF more than 100000 In in
come from dividends on stocks and a
deficit for the year OF S.l41. $40. after pay
ment OF the dividends on the common
stock, on which only l.j6 per cent was
earned, against 100 per cent in the pre-
ceding year. The company had, however,
on June 80 last, after deducting this
deficit, a profit and loss surplus OF A2-
93l,5I and cash on hand to the amount
Of s22.1s.ln.
The operating revenue for the year was
fsS. l22. If3, against i.975995 for the pre-
ceding year. a decrease OF sl,s53,252;
operating expenses were sH,743,l56, in
crease $3.50. 4Ss. and net operating revenue
was sl5,ST95S7. against N7e22.27s, a de-
crease Of s2,542,ssO. Total net revenue was
SIS, i0l .o54. and, deductng taxes, 2,S5S, no,
the operating income was sl25S2,3H, de-
crease OF s2,922sol.
Other income amounted to S,59l.sio,
against 81 SIG. Is6, decrease OF A,2sI,S3S.
the principal decrease being that OF s..
033. go In dividends on stocks. which was
partly offset by increases OF $552,63s in in
a., Nj iu rnptalG
total income being 500 l24,2 93. Deducting
interest. hire OF equipment and other
charges. totalling sl0l93,s47. the balance
for dividends was 1890, 40 against SIG,
35S.Sli the year previously, a decrease of
s., 427 $50. Preferred dividends amounted
to $Sllj.232. leaving the balance for divi-
dends on the common stock 81 ,Sl5,2i; and.
after payment OF the per cent dividends
on the common, requiring S,66.IG9 a
deficit Of S5.ln,5i6 was shown.
The report says:
The crop failure Of 1911 In Western
Minnesota. South Dakota and Southern
| North Dakota was the most complete
that ever occurred in those states. TINS
Unprecedented crop shortage was largely
tho cause Of the decrease In freight rev.
enue for the last fiscal year. II affected
cent OF tho total miles operated. The de-
crease I'm the total number Of tons OF
grain transported was 762 1893. This would
have been much greater but for the In
crease OF short haul grain tonnage Sc
cured at other points.
Tho average haul OF grain was &S mites
decrease Of ~ miles compared with the
previous year. The 1912 crops Of small
grains I'm the territory tributary 20 the
, COmpany's lines are excellent, and the
Yield will be considerably above the aN-
erage. since the close OF the fiscal year
ended June 80. 1912 there has been a
general revival Of business IN all lines,
and the outlook Is that there VIII bc a
substantial increase IN the earnings OF the
current fiscal year.
Revenue from freight decreased 1880.
sg. compared with the preceding year,
and from passengers. Np.79t Expendi-
lures for maintenance OF way and struct-
ures increased s9i6.si3 and for mainten-
ance Of equipment. S4l.SSi, while expense
Of conducting transportation decreased
1923, 9o2. The report describes many i'm
provements which are under way in the
line OF increasing terminal facilities and
constructing second track.