The Sentinel=record., 1912-09-17
MISSOURI-PACIFIC
 HAS A GOOD YEAR
LARGER THINGS UNDERTAKEN FOR THE FUTURE THAN
 EVER BEFORE.
Reorganization Indicates That This Will Be One of the foremost
 Lines in the West Soon.

The report of the Missouri Pacific system for the fiscal year ending with June, presented by President B. F. Bush, was approved by the board at it's meeting held at New York Sep tember 10. A synopsis of the results from operations is as follows:
 Average mileage. 7,231; total oper- ating revenue, $54, ,503, ,250; an increase Of 3.27 per cent, notwithstanding a loss in passenger revenues of more than quarter of a million dollars {; operating expenses, $41,280,5 592. a de- crease of 4.73 per cent. Net operat- ing revenue, $13,222, ,65S. or practically 40 per cent increase Ratio of op- erating expenses to operating reve- nues was 75.74 per cent against S2.1 per cent the previous year To the above net operating revenue was add ed income from other sources amount ing to $2,237,460 making the gross corporate income S15,460,11S.
 The gross corporate obligations were: Loss from outside operations tdining cars, etc). $12S,S53; taxes. S2.243,3S0; interest, rentals, equip ment, rentals, etc, $15,074,977: total, $17,439,210 The net income shows a gain over the previous years opera tions of more than s3 250,000, to which gross earnings contributed only s1,- 726.657.
 Taxes increased more than 19 per cent, and interest payments 10 per cent.
 The capital expenditures for the year were $10,756,025, of which s5.- 6l5,600 was for cans and locomotives, and S1,027900 for new construction. The balance went for miscellaneous work, rails, ballast sidings, widening cuts and fills. station buildings, etc. This is exclusive of those items of im- prpvements accomplished and charged to maintenance, both of roadway and equipment, the total of the latter two aggregating an expenditure of nearly SIT 100000.
 That pronounced progress has been made in the restoration of an inher- entity excellent property is well known to the public to whose confidence the railroad has currently appealed throughout the year. The c'osing re- marks of the annual report character istically set this forth and introduce an accusation new in such documents for the patrons of the road and cred ited with a participation in whas ha. been achieved. The closing paragraph reads:
 'It is believed that the close of the fiscal year established conspicuous mile posts in the history of your prop. erty, for at that time the territory ii serves was giving every evidence oi revival. aroused by the promise ol bountiful crops of every description and in no small part due to the ex- pansive activities of the communities in their own behalf. and which inturn has brought these peoples into a closer association with and under standing of your company's affairs. Such marked advance could scarcely have been made without the substan- tial and efficient support of the off cers and emp'oyes. in whose hands rests the immediate conduct of the business. Local and federal enact ments cumulatively have imposed bur dens, of which the public gives evil dence of having a growing realization, and which, it is believed, wise coun- cils will eventually undertake to light en. This lends further encouragement to what must be regarded as a grati- flying outlook.