The comet. (Johnson City, Tenn.) 1884-1916, 1914-10-15
ten-year tendency:

ten-year tendency:
Increase in revenue 1914 over 1906
44.42 per cent.
Increase in expenses 1914 over 1905
SO. O6 per cent
/ Increase in taxes 1914 over 1906
1890 per cent?
The financial arrangements b!
which the company acquired capita
funds for carrying on. despite thu
business depression. the comprehen
sive plan of hetterments and improve
ments now under way. are reviewed
and summary account of the i'm
provements made during the fisca
year is given. These included double
tracking. substantial progress in this
construction of important and long
needed additional terminal facilities
the extension of the automatic cleo,
trio block system, and other improve.
ments.
1t is pointed out that, with steady
confidence that the prevailing bust
ness depression is temporary, the
board of directors dealt courageously
during the year with the matter Of
providing adequate equipment, orders
having been placed for 5,945 freight
train cars as well as for additional
locomotives and passenger equipment
These orders were placed at a most
fortunate time for the company, for,
because of the lack Of other business,
the equipment manufacturers made
unprecedented prices, enabling the
company to secure largely increased
number of items of equipment as
compared with any previous purchase
and to make substantial progress in
raising the general level of it's equip
ment to modern standard. The re-
pert continues:
THE constant and unremitting eff
fort OF management under existing
conditions of operation is, of course,
to cheek the current tendency of en-
roachment of operating expenses up
on op era ting revenues by the practice
of greater efficiency. without too great
demands for new capital This is the
most d fficult, as, when successful, it
is the most admirable, achievement if
the operation of a railroad today.
This company's results have shown
steady Improvement and warrant cor
dial approval by the stockholders of
the faithful and resourceful work of
the tie 4 nical operating officers"
Statistics are presented comparing
1914 with 1908 and showing a marked
increase in operating efficiency. The
maintenance accounts reflect the con-
tinuance of the policy of keeping the
physical condition of the property up
to constantly increasing standard,
and the report says:
"The actual appropriations have
been liberal, considering the revenues
from which the funds are derived, and
a review of what has been accomplish
ed during the year brings the COM
forting assurance of substantial prog
ress."
The general depression in business
conditions that prevailed throughout
the United States and more particular
ly during the last six months of the
fiscal year. while less acute in the
south than in other parts of the coun-
try, was responsible for decreases in
important items of the company's
freight traffic. On five items alone
this decrease amounted to 530,193
tons, and the report significantly says:
THAT there should have been an
increase of 200,867 tons in the total
and an increase of $780,
10000 in revenue from Freight Traffic
regardless of the heavy decreases in
those five important items, indicates
the rapid development of diversified
industry and general business
throughout the south, and the strong
position of the Southern railway with
relation to it."
Reviewing the effect of current
business conditions upon the business
Of the company the report says:
THE effect Hpon business in the
United States, Of the European war.
coming on top of a period of general
business hesitation, has been appar-
emit in the revenues of the company
since the close of the fiscal year. The
Tor it is peculiarly dependent upon