Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1913-10-16
ANNUAL REPORT
OF The SOUTHERN RAILWAY,

Washington, D.. c., Oct. 3, 1913.
.bo stockholders of the Southern
Railway Company:
The Board of directors submits the
slowing report of the affairs of the
%omnany for the year ended June 80,
1913:
Niles of road operated, average, 1913
.0g5 81: 1912 7,O&S.03; decrease 52.42.
Cross operating revenues, 1913, $685.
,90 1q2 1912, $63, $50 ,328. 80; in
"rpase $4,939,161.30.
Total operating expenses, 1913, $48,-
273g23.55; 1912, $43, 696 ,2S6.39; in
crease $4,577, 6S7.16.
Net operating revenues, 1913, 500, !,
Ok; $685. 5; 1912, I9,894,092.51; in
crease $361,474.14.
Auxiliary operations-net eVenue
1918. $~SO,535.S7; 1912, ~$64,754.67; in
crease $15,7S1.2O.
Net revenue, 1918, $2O,ss6,1o2.5 So;
1912, $40, 95S, SAILS; increase $377,-
1854.
Taxes 1918, $2,4S0,3S7.28; 1912, ST.
t52.32S.2S; increase $2S, 100.
Operating income 1913, 1855
1924: 1912, ST., 5O6, 51S.9 increase
S349, 1864.
Other income, 1913, 1885, $40; 1912.
sS.5S0,441.7 20; decrease F$~214471.2O.
Total gross income, 1913, $21,221,-
,C5.74; $21, OS6, $1,000; inc. $134,725.14.
Deductions from income, 1913, So
1O4.OS6.17; 1912, $3,180,139.7O; decrease
S76.O53.53.
Total available income, 1913, SIS,
iti599.57; 1912, ST., 900, 800. 80; in
crease $~21O,77S.69.
Interest on mortgage, bonded and
secrred debt, 1913, 81. 038, 974.40; 1912,
$r1.143, 1884: decrease $1O4, 1894.
Balance of income\ over charges,
1913, SLOTS, 625.17; 1912, $6,763 ILL., 6;
increase $315. 508.11. s
Dividends on preferred stock:
No. %, two per cent, paid in April,
1912; No. %, two and one half per
cent, paid in April, 1913, 81 500, 100000.
1912. 81, zoe, 600. 90; increase $500, 900.
No. "a. two and one half per cent,
paid in October, 1912; reserve for div
idend No. 26, two and one-half per
ceut., payable in October, 1913, $780,
10000; 1912, $1,000, 900. 90.
lOJdl ulk1u6IuS 4OlOs qOsOOO,UOO.OO >
1912, 1900, 10000; increase 100000.
Balance over dividends on preferred
stock, 1913, $4,O7S. 625.17; 1912, $4.O63,-
l1,.06; increase $15,5OS.11.
Additions and betterments 1913, $4S,-
66O.4S; $~44,989.42; increase $3,671.O5.
Balance carried to credit of profit
loss. 1913, $4,029, 964.69; 1912, $4,01S,-
SOFAS; $44. 989.42; increase $3,671.O6.
Profit and Loss.
The surplus shown by the Profit and
Loss statement as of June 80, 1912.
was $13, 756, 936.13. After making pro-
vision through Income for the full Div
iiend on the Preferred Stock, amount
ing to 5000, 900, and charging to Profit
2ad Loss $98, 1892 90, Discount on Secur-
tiles, thus extinguishing the entire
amount of such discount, and $314,-
0g5.66. representing net miscellaneous
accounts written down, the surplus as
of June 80, 1913, amounted to $17,374,-
$500, a gain of So, 617, 622.07 over the
preceding year.
Discount on Securities.
The Discount on Equipment Trust
Obligations and other securities sold
BY the Company during the year
year amounted to $~110,35O.0O, of which
$t2,017.04 was charged to Income and
the balance, $98,332.9 sc. to Profit and
Loss
Interest.
The accrued interest on Mortgage,
Bonded and Secured Debt for the year
ended June 80, 1913, was $1O4 1894
less than for the preceding year. The
interest on Equipment Trust Obliga-
tCns decreased So, 604.43 and on Bonds
and Notes ~$99,125.01, due principally
to the retirement at maturity Febru-
airy l. 1913, of $4,000, 900 of the Com
pany's Three-Year Five Per Cent
Notes.
Dividends.
A dividend of two and One-half per
cent. or the prefessed stock of the
company was paid April "a, 1913, and
Provision made for the payment on Oc-
"ber 80, 1913, of a dividend of two
ana one half per cent. declared out of
Income earned during the year.
property Investment and Mortgage
Debt.
The investment in physical property,
exclusive of depreciation, increased
@,ol6,5l4.27, of which 81, 927,739.O4 was
n roadway and structures and $685.
1923 in equipment. This increase
represents net additions made during
NE year. (See pages "a and 25.)
q During the year there was a de-
vease of $3,628,60O in outstanding
Mortgage and Collateral Trust Bonds
Sau Notes and $1,234, 900 in Equipment
rust Obligations. (See page 2S.)
The $4,000, 900 Three Year five per
IeAt Notes issued in 1910, were retired
W the payment at maturity, February
/ 1913, of $5,O0O,O 900 in cash out of
"eaSury funds, and with the proceeds
from the sale of S., 900, 900 Three-Year
1913.
mere were paid at maturity, April
- 1913, $15O,OOO Atlantic Tennessee,
SIu Ohio Railroad Company First
mmOrtgage six per cent. bonds, and a
~ nSe amount the Southern Railway
company First Consolidated Mortgage
t,e per cent. bonds we're drawn there
"i as 0rNVidoH IN 4hn To0rfno0o