The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-04-13
CHAIRMAN ELLIOTT HAS CONFIDENCE
IN FUTURE SUCCESS OF NEW HAVEN ROAD

AIRY 81 expended for operation and taxes
1871 pei cent Of operating revenue. against
500 per cent by the New York Central.
1875 by the Pennsylvania and 1872 by
the Baltimore and Ohio. The net operat-
Ing Income on the New Haven decreased
26.s per cent from last year. on the
Central 1913 per cent. on the Pennsylvania
, per cent. on the Reading 22.S per cent
and on the Erie 223 per cent
Third. prolonged agitation about the
company and tts management. causing
decentralization and loss Of efficiency. seri.
Gus wrecks. falling earnings. increased
wages and costs. higher rates for money.
work done and investments made for the
future with no adequate return At present,
demands for more elaborate service and
facilities. uncertainty about relations with
the Government all form q combination
OF adverse circumstances not likely 60
DO repeated"
Specific causes Of the tremendous de.
creases In income OF the road are analysed
BY Chairman Elliott In the statement that
he road has had to bear this year an In.
crease Of S2.i62.lo0 In hxed chsrges
rentals. taxes and guarantees. Of which
N.00S. 500 Ia interest on loans because
Of the increased amount OF shor, term
notes bearing per cent. interest The
Boston Holding Company because OF the
passing Of Boston and Name dividends.
costs the company S6i5.500 moro this
year the Boston and Albany agreement,
sos 100: the New York. Westchester and
Boston. SSS.?00.
0Faud Ceutra1 Termlusl Cost.
Tho Grand Central Terminal investment
cost. constantly increasing. is the chief
cause Of an increase Of 33s7i00 In rentals.
The New Haven paid 81 9S39S9 durtnV
1913 10 get into New York. This was
three times what II was ten years ago.
Entrance to New York cost the company
80 cents for every passenger carried. II
will be more In 1914.
Other causes that affect the New Haven
specifically have been the heavy damage
claims because OF the 1918 accidents: in
crease In maintenance OF way charges
that should have been made early In 1919 !;
improved signal system change In method
OF charging depreciation. causing an addi-
tonai annual charge to operating ex-
penses Of 100000: loss Of revenue from
parlor and sleeping car service. which was
transferred to the Pullman Company In
order to get immed ate steel car equip
ment and relieve the New Haven OF q
very large investment.
All sleeping and parlor cars and prac-
ticaily nil coaches In the New York to
Boston line. says Mr.. Elliott are now Of
steel or steel ,underframe. Decrease or
cessation of dividends from the New York.
Ontario and Western. the trolleys and the
steamships has hurt the New Haven earn
inEs. as also reduced interest from re-
duced deposits.
The number OF stockholders OF the New
Haven Railroad Company IS 2S.24o. OF
whom 73 per cent. IRE In New England
and l6 per cent In New York State. There
are l1.034 women share holders. 1854
trusts and guardianships and S3l insur-
ancc and other corporation holders TIE
average shares per stockhold.r are 500
against 7l.it in 1910. Holders OF from
to 10 shares number 1850; from IL
TO so. 1861 from 81 to 500 shares. 1856
From sol shares upward the holders num-
Der $50. New Engla nd holds 5S per cent.
Of the stock New York State 80 per cent.