The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-02

northern central HslIWhI'
INCOME STATEMENT.
Business conditions on your lines, A. welln rs on
other railroads. We're Unsatisfactory In the year
1gi4. The total operating revenues snow n &c
crease Of s.6s per cent, compared With 1913.
chiefly In the freight and passenger trafrc. aris,
ing from unfaVorable commercial ana nndnclhI
conditions, witch in the las, Ave months Of the
year were acccntlateo by the european Hhr.
The grns. revenues and expsnses ihr.uur, s!nyc
,rai Lines under the lease TO your Company, ahu
they also include. In accordance with 'hcireNiscd
Classification of Operating Revenues aud Es-
nen-,. Of thc Interstate Commission.
effective since July l. 1914. the results from AIN
lllnry Operations, for which separate accounting
Express Ryyenuc shows a decrease due 20 a
reduction d sSprass rates, and By reason Of the e
son equitable adjustment Of the contract Win
the Express company. and onscts,o some extent
the Increase In Mall Revenue.
Mail Revenue increased a. a result OF tne
ouadrennial weighing. effective July. ]. 1918.
The manifest unfairnoss OF Hclghing the mats,
four years depr.vcs the company OF, revenue tos
the Increased weights carried each year. and
should be rcmcdicd rs An annual weighing ana
an annual ad iustineut OF pay.
The total Operating Expenses decreased ~
per cent Sh'Tdr s tnroGsh sTs2THsa and eGoH tTsric'
These were effected by a reduction IN me us ni
materials and supplies. In the working ior,rs oi
all departments, aud In train and car mi "Age,
and by dcferring other expenses. but having IN
view AZ all times the preservation % thc shIrty
of YOUR tracks, equipment anu IaClllNlcS lhe
Increases in wages of cnginclltn. .nfcilch, con
ducturs. and rsinm-u. under the W age Atpltrh-
ton awards. anu other consequent wage ADJUST
mcutS. and the expense Of compiylns with 1cels-
lative enac,mcnt>. prevented -til furth.r saw
lngs Ia expenses.
Railway Operating Income shows q decrease
OF %. Os7 ,5sS T. compared with the results ot ~,
lines operated by your Company ~ 1918. nu' u
the n gures for 1919 used In comparison mad AZ"
Included the operations II the Northern Contra
RniiwH for that year. the Railway Operating
Income for both 'ompanles would nave sho"i
an aggregate decrease of s3,as3 .or~ %
TIL" Net Income for 1914 was 5000 ItSs2, II
decrease OF ~. $50. OF %. compared WIN 'he pre-
vious year: from which appropriations were
made 20 Sinking and Other Rrs"rN" FUNDS. Ger
tain necessary additions ana bct'erm"nts we're
prpvld I'd: cash dividends amounting 10 sis prl
cent. were paid on your Capital STOCK. ara 'l't,
OO So was credited to PrOht and Loss account
The latter account nas also been clct!lfcn WV
rs. s80. 3ip, tho par yalur of the Northern t'itrr
hallway Company stock received as Il ,O'o dNl
dcnd and the cash dividend accrued thereof
since January list, 1911; the extra cash dividend
OF iOss amounting 10 81 ,O57, go. received on you
stock holdings IN that Company; also the pro
ceedS received from the Manor Real Estate 4
Trust Company, which IS owned by your rom
pany. rcsultlng from tho sale, tn the Susuu.
hanna Coal Ompany of coal lands .formerl'
leased TO the Mineral Railroad Il Mining com
pany, amounting 20 $3.50. 3As. es and 'Slth prom
from sales Of securities and lund.y credits
Agairs, this account has been charged 81 s'