The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-22
Of 5. AL.
MOST FAVORABLE
Road One Of Few to Show
Gains During Year Of Cen
eral Depression.
GERMAN FOOD SUPPLY
County Probably Could Maintain In
dependence for Year-Cotton
and Japan.

factory.
Gross revenues the past fiscal year.
period when railroad gains were the e1-
ception, showed an increase Of T63,oo
over 1913 and Of g. 57O0 900 over 1872 Net
earnings after taxes in 1914 were slSo,OoO
| higher than in 1913 and 81, 266, 900 ahead OF
| 1872. Total available income for fixed
and other charges was pl4.OOo ahead Of
| 1913 and 81 10000 ahead Of 1914 In three
years available income has increased
more than twice as fast as fixed and
| miscellaneous charges
The 1914 surplus Is equivalent TO per
cent on the preferred stock outstanding.
which compared with 7.8 per cent In lslS
and $40 per cent In 1872.
Although the actual stock earnings
were slightly under those Of the preceding
year. this is due to the fact that fixed
| interest charges last year Included
years interest on the 100000 notes
which the company sold TO provide for
its requirements for the next three years
and which will be spent during that
period. The actual increase In interest on
| funded debt for this account was about
$50, 900. but apparently the end has tusti-
fled the extra burden for any railroad
that is financed for the next two years
is in an extraordinarily favorable posi-
ton in view Of ehe financial situation
brought about by the war in Europe.
Directors OF the company say that the
years favorable results have not been
achieved by means OF any let-up In ex-
penditures for property .upkeep. as the
property Is in better physical condition
than ever before. The years figures show
that the management expended on main
tenance OF ways and structures SO.Oo IN
excess Of the preceding year, while IN
expenditures on equipment the excess
over 1913 was $4,000
Total maintenance expenditures Iast
year were $6.4Ss0o0, against Ss,5aS,"o IN
1919. s. $50, 900 in 1872, and s.. 10000 in 1911
TRANSFORMATION expenses at the same time
have been kept under fairly good control
The ratio Of carrying costs to total gross
revenue in 1914 was IS per cent, while IN
1873 and 1872 the ratio was S.3 per cent
Under the severe trafic conditions that
prevailed last year this steadlness Oh
transportation costs Is commendapie.
The outlook for the current year Is SAID
20 he encouraging II the cotton crop can
be exported This is q situation which
Is worrying officials. although coastwise
and South American. Cuban and Porto
Rican shipping is moving uninterrupteoly.
During the coming fall the Seaboard Will
have in operation its new line into
Charleston. y. c, and the new line 10
81 Petersburg. Fla. through the state
most productive orange and grape fruit
section, will be in full operation These
two invasions into new and productive
territory are expected to prove prontaOle
during the coming year
Gcrmnny's Food supply.
Claims on the part Of German authori-
ties that the empire can feed itself for
a year are not altogether unfounded'
Germany has a population OF 6O.V@OoO
and her average wheat and rye crops
which constitute the populations main
dependence for foodstuffs, amount to SIS
OOO OCO bushels On the average Germany
imports 5000. 900 bushels Of wheat, ana
ordinarily takes considerable rye from
Russia. But here flour and wheat ex-
ports may possibly offset the imports IL
so, the supply of wheat and rye per cap
ita Of the population on an average har-
vest will allow "a bushels for each in
habItant. As six bushels of wheat Is
liberal allowance for the United States
per capita consumption, 1t is evident that
Germany's breadstuffs are sufficient for
her annual needs and some TO spare.
This depends somewhat on the current
years harvest. which was fully average !
in yields. but which was not gathered
fully when the war broke out. Ordinarily /
the harvesting in North Germany in the
grain districts cast and west from Ber- /
lin is in full blast about the middle Of
July. The rye harvest comes about a
week or ten days earlier. Probably half
Of the two crops remained to be gath
cred when mobilization took the farm
ers from the fields. This takes account
of the average German crop of about
Coo. 10000 bushels OF oats and 600
bushels of barley. The four cereals to-
gether make a grand total of l.Ss0 900, 900
bushels on which man and beast must
daDcDd with frnnorts falling
There Is no evidence so far as United
States exports of breadstuffs are con-
rerned that Germany made any unusual
effort to import wheat and -four in anti
cipation of war. Less than half a million
bushels Of wheat were shipped to Ger
many during May and less than 10000 bar
rtls of -four from this country. Germany
Importing points did, however, take ad-
vantage of our big and early wheat har-
vest for July contracts. These were
shipped by way OF the Gulf ports, through
which several million bushels OF wheat
went to North European destinations
These included Antwerp, Amsterdam.
Bremen and Hamburg, but
not necessarily all for Germany
Should the pending struggle continue
Tor fun year. it would not only 20
far toward exhausting the food crops Of
9l4. but with able-bodied men all under
'Or military service the approaching au-
.umn seeding OF wheat and rye would be
table to considerable reduction. Germany
has 10000, 900 acres in wheat and rye. and
hey produce from thirty to thirty-fivs
bushels an acre. Whether the aged men.
he women, and children could do the
autumn seeding as well as the Balkan
,eople did in that war remains to be
Ieen.
A. c. A. l.. Dividend.
Although the Atlanta and Charlotte
Air Line is unable to deliver new Ger
ificates OF stock bearing Endorsement OF
he Southern Railway this week, as had
Deen announced IN June, the dividend
iue September 1 will be paid as II no
ielay had occurred. over IS per cent Of
he stock has been deposited. The COM
nittee has sent a circular to a stock
FOLDER here, which follows in part:
Your committee begs to say that ow-
ng to various causes the company win
lot be ready 20 deliver the new certih-
,ates OF stock bearing the guaranty of
he Southern Railway Company to stock
FOLDERS who have deposited their stock
lnder agreement A until about septem-
yer s. The dividend Of September /. how
'ver. will be paid to all stockholders as ]
( this delay had not occurred.
Stockholders who have signed agree