New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-07
LEH|CH VALLEYS YEAR
Record Earnings Reduced by
Heavy Operating Costs.

Increases in taxes the steadily advanc-
ing cost Of labor and the new so-called
full crew" laws are shown in the an
nual report of the Lehigh Valley Railroad
Company. made public last evening TO be
the cause for the reduction OF its record
gross earnings to a net revenue which. IL
is pointed out would be much larger
under more normal conditions. h. b.
Thomas, president of the company. calls
special attention to these extra burdens
being imposed on the carriers, which IN
the case of the greater tax accruals and
the full crew" laws now amount 10 5.'4
per cent of the company's gross oper-
ating revenues.
I'm the last five years taxes have in
creased 1891 per cent" he says. where
az the gross operating revenues have IN
creased but 21.21 per cent. A further
serious burden. which is reflected in the
cost Of transportation. is the wages OF
the additional men that are now arm
trarily required on trains as the result OF
the legislative enactment of the so-calied
full crew bills which have been passed
in the states Of New York, New Jersey
and Pennsylvania
The net revenue of the road for the year
was s13.g35.55 against sl2,lS5.oSo TOT
the previous year. an increase OF sl''f''-
q67. The gross revenue was s43.O4@'S'Z'
an increase Of S6137 .43G This was large
l. offset. however. by the increased cost
Of operation. the total operating expenses
amounting to s29.107,s19. against s2472o'-
24q for the yeariended June 30. 1912.
g ssh
chief revenue Of the company. Tne IN
come from handling this COMMODITY
amounted to s20,3s5,3s9, an increase OF
stOs4073. This gain is something more
than a normal one, according TO PRESIDENT
Thomas. who explains IL as having been
one 10 the fact that for eight weeks last
vear labor difficulties in the anthracite
| coal fields compelled a complete suspen-
sion NJ business of this sort The rush
following the resumption Of business FUR
| nished the special increase in the business
for the year just ended
The total revenue from coal and mer-
chandise freight carried by the Lehlgn
Valley was Se725,13s. an increase Of %
| 500 bs2 A total OF 5,5l8.64 passengers
were carried during the year, and from
| this source the revenue amounted &c
| 81 s67. 554, a gain Of Sl6S,S2O.
After the deduction Of all charges ex'
| cent dividends the road showed a surplus
| of s7.6sa.32S, which after the payment OF
the regular 10 per cent on the company
preferred stock is equal to 1876 per cent
| on the S6050l, 700 common outstanding
compared with ll2 per cent earned during
| the fiscal year 1872.
| a total OF s6,507,721 was spent on the
| lions and betterments Sixty-seven new
| locomotives, one thousand steel under
| frame steel refrigerator cars and three
| steel library buffet cars were among the
new equipment added. Fifty-eight addi'
| tional locomotives. one thousand stee
! under frame box cars and one thousand
| steel coal cars have been ordered Tor de-
! livery during the current year
| According to the report, the entire main
! line of the Lehigh is now equipped with
| telephone train dispatching lines, the cir
| cult between Buffalo and Manchester. the
| final link. having been completed las'
| wear During the last twelve months sev,
| enty-three new industries have located
along the lines Of the road.
| The annual report OF the DehRh Naley
| Coal Company, which was also made pup
| lie yesterday, showed that net income
! from ell sources. after deducting charges
for royalties, sinking funds. depreciation
| Of the property and interest on the funded
| debt amounted TO 81. 47l,275. an increase OF
| 1909 0S3 This too. is stated 10 be more
! than q normal increase, owing TO the 1ac'
| that the revenues Of the previous year
were reduced by reason OF the suspension
of mining during April and May isiz
| between the anthracite mining companie'
| ana their emDlONeS.