Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-10-15

the monthly returns, aud better than
might have been expected from III"
very severe weather conditions WhiCit
prevailed on ito EASTERN lines during
the past winter. On ~ system su cS.
tcnsivu An THIS there haNe naturally
been experiments IN methods OF or.
Grafton ana In standards for both
roadway aud structures ana equip
mCt ana at times this may have led
To higher maintenance costs aud may
DO tn" cause II III" increasing cost Of
maintenance ~ locomotives mention.
cd elsewhere, such experiments have
ON tho other band led to the adoption
of very high standards. The system
has been welded together as a whole
financially into one Of tao most con-
scryHtiyuly ANA sUundly capitalized
railroads operating west Uf the Mis-
sisslppi river. I'll" company IL. 81 far
~ Ii known, managed independently
of any particular group Ur bankers or
ilnancicrS. aud Tor that REASON enjoys
"A dogrce OF confidence with Investors
which In tho long run offsets any lack
If interest IN lts securities because Of
their smaller speculative possibilities,
Tho Southern Pacific ana the Union
Pacific nave such vast holdings Of The
securities Of other companies that
their income can hardly be- fairly com
pared with that OF the santa re.
The Santa Pc II II railroad property
pure and simple. It's earnings OF
tl0.I3g per milo on its iO.O2s miles
form the great bulk OF It's total In
come. In l1l2 there was 32.57O,0OO
other Income. and Ia 1911, t2,2lO.'
600. The STANDARDS OF upkcep on this
great property have been high. Main
tenunce ON certain parts OF the ROAD
Is necessarily very expensive; no great
proportion of the traffic In furnished
by low grade commodities Hnd the
operating ratio when compared TO tho
Union Pacific or the Northern Pa
clflc seem high. II was 60.l5 In 1919
and Ob.7g In 1911. When II is re-
membered, however. that 22.lS per
cent OF the total tonnage carried,
which In 1919 amounted to 2l,lbO,OOO
tons, Was furnished by products vi
agriculture. and that l7.7O per cent
of the total was furnished by manu-
features, and nut 3O.95 per cent by
products OF mines: and whom, more
over, II 10 taken into consideration
that "A great deal OF tho products oil
agriculture, and manufactures az well,
mOyes on fast schedule. necessarily
In smaller trainioads and over yery
heavy grades In places, tho Operatlna
ratio Of a little over O6 per cent does
not seem by any means excessively
high. Furthermore. tho fact that
under severe weather conditions, with
increases In wages and under otheI
adverse conditions, tho company wa
able In 1919 10 hold the operating
ratio down 20 within less than poE
cent Of what II was In 1871. makes
tho showing particularly good.
Total operating expenses amounted
70 S7i,27O, 600 IN 1913, AZ against t7O,'
7TO, 900 In 1911. Maintenance Of way
and structures cost Ste,0Ses0OO II
1919, which was only about S20,OOt
more than was spent In 1911. Main
tenance Of eQuipaaent cost 1880
600 In 1919, and 91o.eoc,Oo0 In 1911
The santa yes accounting 0opaFtnlon'
divides operating eKDenSeS az botweeE
paHsenssrS and freight and ~ be-
tween divisions cfey- the use q th'
mana cement. BIT theae Allooateq a.
penvss are not shown IN tire com
panys annuai rapport. gigusee ar
shewn. h0psvwela ne sspets 90 lla