New-York tribune., 1915-03-02

GENERAL REMARKS.
MIuAGG
Tn. increase I'm the mileage Of tho li"e'
directly opera. eI was due cule1y ~ Lh@ l-'''
Of the Northern central Railway
Income STATEMENT
Rusincss conditions on your lines. rs we,
as on Other railroads, we're uhstllsiA '"'y '''
me year 1914 The total operating 1e1enI,i
snow decrease ot ,.o' per cent ..e.1s,.r
,,,fr igl4 erieily iu the freight and pdasehseI
tlaliic arising from unidNoi 3ule co'''-''0' &
and financial conditions, "N'.h "a III .t' "a
h.e months OF tho year were do'''''-''-'
tbe Euroyran War. Inc gross le'enutS a.
t-.,..,s include since july J. I5li. tne opera
lions 0! the Northern Central Lines 80
the lease 10 your t"Wi"hN' 1HH 80 Ciss.
cluds. ia acCU.d dance Vito tHe Ie'I9'H -
giueatlon Of Operating icFehues am 80
peus.s Of the Interstate CoIni"s'~ ~v Vs'iifs
sion effective since JUy ], I'li' .u' -.
from Auxiliary operations, ior "''0u ~
-f,ts p,,ouu ing was previously 'etIhlN
;.x.rt.s Revenue shows decrease u1o "
reduction IN cAi:e-s rates anu % .T%f Iii
tho operation oi th, tdItei o5t, 20 tna
reuuiTc some t4.lia. .le adJuat tileht VI -"
contract with The cypress COmpany' 80 SE
onseis TO some extent The increase Ia 'Hi''
Revenue. -og,,i, ~ the
ora0r.uuIaI weighing. effective July l. 40
The manifest un.iliness oi "elenlns S'
mails lnclldlns the growing PaI( IN, IN,
nrIy on.. In tour years deptiFes the ,VlI,- ,Vi
many OF revenue for the incteaseo Nels y
carried eacn year and shOlld ue leliIeI'
hv an annual Weighing and an annuaI a.
rb.. i"faI 6prfatlng Expenses decreased so'
urr cent chiefly through enforced ecohOlu,lSs
required b. the loss OF revenue an ~
These were effected d. tt1vC''o&i' u ,yor,[-
,ise OF materials auI supplies. ia me "oi "o a, ~
ing forces OF all departments, ana III -"
ana car mileage, ana % deieIrin9 90" tHe
peuscs but having In We" al al .'',Ja ,,..ts
rrTes.ryation II tap safety Of your ua'N,,
rnuiument and facilities. The increases ~
wages Of enginemeD. nremen cohductuiis, So r,
trsiumen. under the wage Al ii,,st
awards and other consequent "dby eNy1iL
T,.Tts ana the expense OF complying WIN
legislative endctments. pre'eh sun iui
theT savings in expenses. ,,ors , de-
,,ass. of g. uS, 81 IS compared with the re-
suits Of the lines operated by yoIt OoHpaii ~
iu 1913 but n the uguits 10. 1913 usei u ~
conn oflson had also lnc ul,l ,ne ~ , iHnt
of the Northern central railway toI I'M ',iih,
.,tr th. Railway operating income ioI 1o.n
Companies would have shO"n an ube''s-
decrease Uf 50 90 0.5so ., ooo FL, - a
.rb. Net Income f.r 1914 WAS SSi. V5O - >, d
docre,se of SIS )ts.-y'. con pared VITA tNe
ure,ious year: from which appropi auohs
we're made 70 SiHHing AMI OtntI rSSe, ~
Funds certain necessary adHlll9hs AM 10
ts-ments were pro. ,ded. cash dl'liehus
amounting TO six per cent ".re pS'o %,
your capital stock. ana N-S'y'OgS Tat
creIited 10 Profit and Loss account. me laI
TO- account has So been cItullep ~
g. oGsSg the par value OF the NJ 80 :, =
central Railway Company tioch isS,lFeD ~
q sntl dividend and the cash dl'lttn.s a.
-. fI.rron since January lst lsil' IIo
.,f.a cash diVia.n4 Of 10 aholHt."e ~
Sosi.7.1. Iecei ed on your stock hO'u!hKS :"
that Company; also me y. o. r., COM.
t.pI With Is owned by your Com. any, 10
.uIlins from the sale, 10 the SlsP le"Ii..1 .iita
coal Company ot coil iai-s s,I,., -" ,.,' C4Srpsny
to The Mineral Railroad q Mining cSIl'' -, 49,,
,Iuo"ntiu., 10 t5l0sJs .ys and with Drohi. ii.h
sal.s Of securities ana euiN's Le+g.d
@gainsf this account has been ciSi
~ 81 90 q, ~ rsrrps.nting construction anu
s,si esfate evu.ndi,ures on long -efn leasy'
',-e. especla... the nitad New jersey RAJ RAJ
road & Canal COmyanE inI "a it,atiroti
portsmouth Sit JOY & lAn'aslei ,,,,r Ea.,,o rv
+nrfrsnv the net income ~ youl 'uHpau'
rot belng suficien' 10 p-oFld- re saiil, l,ses
,snees 10 Branch Lines f1r siin''iI pN' ~, ei
..tt.h c-ara .rA..a to meet m SAM 'Lt D'
.t, o,,, resources ani advances 20 I"Vo-
.st ON and retirement ot. witer rus -
fi-cates and tNpendi u.es on oul "it''s.,boiI
rIy p stem: a.sO the fentaI unI n,tI,y,v
l.,l,r'ent OF the Northern central i'A1'N
.oruanv In the adjustment OF ths sS in
,f.Ilr The lease from iE.a' ~ 80, he
....'i-g a charge of s. 3.3o. 80 50 taat, @ tne
80 sn9unt credited 10 fi".t an loss
account during the yeal Was S->~9'i'''''
LEGisLATIoS.
To-. inc--asod scope and great burden i,,o, -,
49, T,,ie. and respon, ioliltes linr"7eu uPJtIa
ule Tt~'r,.t1fc commerce Commission saorlu
,'ovy he followed by the l!HtHNli'1ttt "a is
t,eJeraI laws from which Its 1G'"ol deG
l.rivAd TIE Comm.ss on sh"AN 4,
'SS,t o-,ro,,erat hv specific pro- isl"Hs ~
-r..a laws to -t-eng hen t.r "a u ' toyglaly
which tha welfare " the country - p.,,,-ant ,
'...-,. Ia 90 as 10 encourage lue me- ~ -
80 ',ts c4ultal Tor the expansion or l.l'-
fe.'li'Ies and services. ana q. l,Ft Sstas
of tlair credit hN means oi I''-'"I' -. sot
which viii accord ".th the 'le,, 'le,r,,yi1, a. h
burdens placed on them 10 'o'i'p's ~ al
',trtorv requirements and 20. ein.u.nI,r, in.iI,
.Ward, and regulations ne ai T., bs
-..,lII fe enlarged and 80 oTeaHizep q II
7t1u.I ,f ,,,.,,7,rtiy with the important ran
80 ,,,,se .lon- which under the eN!stht ,,nS
~ Gotsrnmenta reg lltior must te ln,',li
by H. The position %. ,.,1i,enre n, a long
~. tiacei beyond political lnl'rh.s, sro,,ii
- 80 20 e.; oeice and the compensation s.o..a 30
ta sufficient 20 attrd' an .t'a'I .'i1, nc The
- ~ 49,, .yueri,nrp and greatest th.HS Ia
i's. ,,,,er az the commission sh"1it
t,e'''@'.-l, extended u the supervision an az
,rt-ol Of all rates and pftcu1es " "..,-..-- 80 ~
restlv or remotely aieDl lI''' "a "a "a ir.iuIe 10
,',,,- 10 maintain q r-te structure aPlro' go
F.. az .st-factolv 20 li: even ',..s 10
-. .. fri- a. should Pc ne. e'sa49
d.C".'.'.' ,.l.,.r'ors os rates o. % compel au-
49, 70. -ttrs fu..i ty fHr '"mmI !, ioh ~
b. unreasona Is iY". An Ihrcfs. - 10 Va ,,,ore
rate may be urnrI 30 70 s2.'S ,1 1t,4r ship
sFirrer~ nut the ~atr- o. soiir 49, ~, "a
. are sue o. te ii-airantaseo- -sly al,t,te,i l,e,
.S.,.b, The services OF the lomil!sslO"
sIo,ld be made available to remedy t.g t.g..,1, .o
cfJedly Inadequate revenues oI tat ,NIi Iri,,.r'I
- - trausuJrf+ti .i malls ana tdI -
IT, ".,5 tr. roWef 70. Commission- Sttte
an5 Federal. TO suspend .n reases ~ .i. - ~
s|..lI e limited s1 a. % Ire thi - ''s,.,
- 10 DE "a lrDtls during tie s-spt,..
I ~ rates sub-eq .sutN determined %
Ss.,...Drbie Increases in wages ana o'her
turfens which seriously enlarge EallIo a.,
r.,-4s should not be- Imposed by lek 49,.
~ toreush awards of Io'sfnHeniai h"I,sr'.
IN l,ss the ability q the railroads 10 gay -,
same under fhe rate schedules tneh IN e.
= e!eayy APPARENT o. A--ss' 80 ---'-