New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-17
PUBLIC UTILITY NOTES..

The American Railways Company re-
ports gross earnings for September OF
A57.6S3 an increase of S2S9l2 over the
same month last year For the three
months OF the fiscal year gross earnings
amounted to sl.476.GO9. a gain of sl24,lT
over the corresponding period in 1912
Utility Commissioner Convention.
a convention OF railroad and public
utility commissioners Of the United States
will be held in Washington for a period
OF four days beginning with october o.
Important subjects relating to the COM
missions work will be discussed
San Antonio Traction Company.
In his quarterly report for the last
quarter the general manager of the San
Antonio Traction Company states that
gross earnings were s23S811. Although
gross earnings increased 1 per cent over
the same period last year, the amount has
proven a disappointment 70 officers. being
far short OF what was expected. They
state that the growth OF the city war
ranted a much larger gain. The general
manager says that the increasing use OF
the automobile is attributed as a large
cause for the fact that streetcar service
is losing In its patronage. He also says
that the company is at present being run
without gain. or the gross receipts. %
per cent is paid In damage suits. while
the remaining rs per cent is used In pay
ing current expenses.
Toronto Railway Company.
The Toronto Railway Company made
record In its gross earnings for the
month OF September exceeding those OF
August by sll,536 and those OF September
last year by $3.50 In each year for the
last six years the gross earnings of the
railway for September have been more
than $4,000 greater than those of the
previous year. Bion J. Arnold in his
report to the city OF Toronto showed that
the Toronto Railway has land, buildings,
cars. tracks and other physical assets
valued at 81, S9i, 4s2 and Intangible" assets
consisting chiefly of eight years fran
chise rights to operate exclusively surface
railways on the streets of Toronto, worth
SO. 713, $50 This report was made by MT
Arnold in connection with the proposed
purchase OF the railway company by the
city.
Canadian American Power Corporation
The Canadian-American Power Corpora
ton, which was organized July 80 last. has
applied TO the Public Service Commission
of the Cd District of New York for per-
mission TO issue $3.50 s per cent cumu-
lative preferred stock and S,99s,5o com
mon stock. The proceeds of the issue
will be used to acquire an electrical con-
tract from the Baltimore Utilities Com
pany. under which the Electrical Devei-
opment Company, OF Ontario, and the
Toronto Power Company. Limited, are
required TO deliver to the Baltimore con-
Germ electric energy TO the amount OF
5000 horsepower for q period OF thirty
years, at the international boundary, at
price Of s12 so per horsepower year
II is said the value of the electrical
contract" is more than 100000. An
amortization fund will be provided when
at the end OF thirty years Will amount
to 100000 The company also makes
application TO issue $4,000 in securities
TO acquire all the stock and assets
of the Niagara Falls Electrical Trans
mission Company, which, the application
states. will be OF great value TO the cor
poration in dsposing Of the electrical
current to be taken by 1t under the terms
of the contract"