Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-11-17
EARNINGS LOWER
FOR ROCK ISLAND
Returns for Fiscal Year Decline
4.42 Per Cent; Stand at
$68,20S,11

Earnings from operation of the
Rock Island lines for the fiscal year
ended June 80, 1914, were S6S,20S,112,
being a decrease of over S3.000,000, or
4.42 per cent, compared with the pre-
vious fiscal year. The loss in traffic
may be credited in large part to gem
eraI conditions obtaining in the ter
ritory in which the lines are oper-
ated
The operating expenses were reduc-
ed to the extent of 2.86 per cent. But
the results for the year showed a re-
duction in the company's surplus of
SASH 900, bringing the item from
$13, 6O4,S51 on June 80, 1913, to SS,733,-
S11 on June so, 1914. The two divi-
dends of l IA per cent apparently
were paid out of surplus. The last
distribution was made on Dec. 81,
1913. For 1914 the roads surplus from
operation was only S450.621.
! President Nudge included in his an
nual report a review of the financial
affairs and physical condition of the
Rock Island, showing what has been
accomplished in the last twelve years.
The statistics are for June 80, 1902,
and June 80, 1914.
On June 80, 1902, mileage was 1896;
on June 30, 1914, 1O,62S. Rails, previ-
ously. 9SS miles of so pound steel,
3,O51 miles of 20 pound; now 1857
miles of so pounds; 3,611 miles of 20
pound. Ballast, previously, 52S miles
rock, 2,01S other than dirt: now,
1,466 miles rock, 5.429 other than dirt
Bridge data, previously, no stone, Co.
923 feet of steel; now $4,000 feet of
stone, 153,1S5 feet of steel. Block sig
nails, previously, 10 miles automatic;
now 1856 miles automatic. Locomot-
ives, previously, Gel, average pounds,
1S,O15; now, 1878, average pounds,
29.345. Freight cars, previously, wood
en-, 1888 of twenty-four ton average
capacity; now, wooden, 2S,143, steel
1881, average capacity thirty-siX
tons Passenger cars, previously,
wooden, 475; now, wooden SIT; steel,
$40.
Since 1902 about S15,OOO,OOO has
been expended on terminals, and since
1907 12,S2S,459 ties have been treated
by the creosote process.
Operations as a result of freight |
and passenger reductions since 1902. |
show a decrease of SS,975,5S6 and |
S2,246,4SS in the respective depart |
ments. or a total decrease of 11.222,-
O35. Increases in wages have added |
S4.273.222 to operating expenses, and |
taxes have increased S1,255,5S5.
President Nudge says in the re- !
port, concerning the company's CAPT |
The average mileage, with an IN
crease of only s15.O0O,O0 in capital
stock, operated to reduce the capital
S 'ock from s17.625 per mile in 1902
to S1O,l26 per mile in 1914 The bond
ed debt per mile. hower~-. ..creased
from $2S.0SS N 1902 to $50. 6O4 in 1914
due partially to underlying bonds on
the new mileage assumed by your
company and partially to the amounts
for addition and improve
nents to the property. making a total
per mile on June 80
1914. of $46.73O, as against $45,713 on
Iune 80. 1902.
In the face of the increasing in
crest rate your company. in common
With nearly all other railway COM
'anies. has been forced to sell its
ponds at considerable discount. 1t
s believed that the average sales have
'een on as good IA basis as those of
'ther companies similarly situated
The total discount for the twelve years
mounts to $l4.4l1,5 23. all of which