Evening journal., 1914-01-08
DECREASE In
INCOME OF
DEL. R. R.
Slight Falling Off Shown in
Reports at Annual
Meeting
CAPITAL J. P. GREEN
AGAIN Is PRESIDENT
Special to THE EVENING JOURNAL

nual meeting Of the Delaware Rail-
road Company here at noon directors
were reelected. There was de-
crease in the gross and net income
OF the railroad during the year just
ended.
The stockholders at their meeting
elected the following directors for the
year: John z. Green, George Y. Massey
Philadelphia; Samuel Bancroft, lr.. Will
liam H. Swift, William W. Lobdcll and
Henry Tatnall of Wilmington; Walter
O. HoiTeckcr, Smyrna; William #. Wat
SON Milford; James j. Ross, Seatord;
Thomas Curry. Greenwood; William T..
Records l.aurel Murray Nnndiyer, Dr..
b. ". Goldsborough, Baltimore, Md;
Nicholas n. Johnson. Pennington, and
/ John Hum. Wyoming.
The directors at their meeting
elected the following officers for the
year: President. John =. Green.
/ Philadelphia; vice-prcsident, John
John Hum. Wyoming, Del; secretary
and treasurer. ID. NJ. Wilson, Dover.
Former Governor John Hum sue
ceeds W. W. LObdell. Of Wilmington,
who declined reelection.
The directors submitted q statement
OF the company's finances for the year
ended December 81. 1918, together with
the reports OF the commissioners of the
two sinking funds. The income state
ment of the company for the year ended
December 81. 1918, as compared with
that of the year 1912, was as follows:
Rental received from lease of road.
S43l.7G4 decrease of 81 .333.3i in 1922
90 which add other incomes Interest,
general account. s32a.66, decrease oi
sl27 50. dividends and interest ON secm-
titles owned. 81 220. decrease OF s4.s23.l |;
interest ON cash and securities in bet.
! termcut and Improvement fund
sll .4jO30. decrease of S54497; mcom,
from sinking fund il-sI3.3d, decrease
OF Si9.34
The Gross income was S492,O3f 30
or decrease under 1912. of S7,lfS29
from which deduct interest on fund
ed debt. 500 10000. decrease over 1911.
of St.33334; organization expenses
iSI.S21.1O. decrease of 81 .O33. "a: tota
deductions S24.321lO decrease Of 81,
3G7.2S; net income for 1913 was Si6S,
3l6.22, decrease over 1912 OF S4,
lSl1Ol.
From The mot income the following
amounts have been deducted dNi.
dend of four percent, paid July
1913. S203,l31. total OF S406.2G2.
Appropriation of income TO sinkni
7 funds, S41.S73.36: total of S44S. 1875 30
Balance transferred TO credit of pro
l fit and loss, S20,1S0.S6. Profit ant
loss account. Amount to credit o
profit and loss. December 81. 1912
!, 1892, ,S9417 Add net income Tor year
/, 500 1S0.S6; total of S953.075.03. De
/, duct net debts during the year S39s
70 Amount TO credit of profit and loss
: December 81, 1913. 1852. .67703.
rhe total expenditure for addition
and bcitrrncnts during the YEA
l. ,umountei 90 SlS5,a09A1. The detail
o Of this esq nditure are As follows:
IS Water facilities. Clayton. 81 lG2.23
h iyard cNt'nsion. Scaford, So $3.50; pass
n inc i,as extension, Greenwood. SlG
a G29.03 standardizing block signal'
Y Isl .2S2 il electric crossing nolls an
e switch .gnals. north Of laurel. Farm
p ingt and Dridgevillc. 81 Sss.0li over
head bridge, Middletovn. slO.5da3O
coirac.cial sidings, etc. Mt. Pleasant
lWAolng. Harrington, Greenwood, Hun
llo., north of Broad Creek and Clay
q. ltoa 81. .l55.l6; crossover, Harrington
y Briieeville and Broad Creek, s63Gl sc
extraordinary expenditures for roadwa
land structures. Sl4091l 40; right &
- way Ss,0ja; total Slnt.504.4S; le'
y credits. mainly for property abandoned
Il ss .595Oli total, sls5.909.47.
VI "Of this amount there was furnish
r ed by the lessee and charged againi
D It's surplus income. IN continuane
"- OF the policy which your compan
had pursued prior TO the presei
j. lease. and representing eXtraordinai
a." expenditures for roadway and stru'
NJ lures. commercial and other siding
" crossovers. block and switch sigma
y" and crossing bells. and rebuildir
y bridges. etc. Si56.9S209. the repo
7T continues The balance, amountir
to S2S.927.3S. was provided by yo
Oh company out of its betterment an
no Improvement fund. and represen
the cost of additional water facilit'
~ extension of passing siding and va
n tracks. and the acquisition of rig
'r OF way.
y" Against this amount there We
credits, account property abandon
and not replaced. amounting
$4,000. Net amount OF additions al
betterments chargeable against cal
II tai account S2S.551.3S.
~ BY reference TO the balance sheet
will be seen that decrease of IS
l514.S1 appears on the assets side
he the account in the amount of proper
ed investment since June Both, 1907. IT
Is lis due TO the fact that the lessee h
in taken upon its own balance sheet
)s- aggregate amount, Sll6.06619. viii
TT from the date of the present lease
to December 31st. 1912. has been pa
Sc. by It on account of extraordinary
,ss penditures which. in its iudgme
an should not be charged against
ng capital account of this company, a
an (which. therefore. as we'll as the q
err setting item additions and bett'
of ments assumed by lessee" on the !
m bilities side OF the balance sheet v
nd mot hereafter appear thereon; L
amount of additions and bettermel
during the year present prope
ichangoable against the capital
the icount of your company as per abe
nd statement. S2S.55l.3S.
his Net decrease in property inve
eth ment as per balance sheet SS7,5l4.
err Effective November I, 1913. Tai
IT'S Ashton was appointed assistant trei
/ 2irrer and G.. Blight Robinson, reg
ew trar of bonds. vice $. r. Dickey. "
Continued on Second Page.