The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-16
B. & O.'S ECONOMY
RAISES EARNINGS
Annual Report Shows $40 Per
Cent. Made on the Com.
mon Stock.
BIG DROP IN EXPENSES

The repor; OF the Baltimore and Ohio
Railroad Company for the year ended
June ~. 1916, shows. after the payment
or tho preferred dividends. q surplus
available for common dividends mount.
ing TO 3s.36s.727. as compared with
ss.s%s.saa the year previous. This was
equal to $40 per cent. on the siba,3i7.-
$Ss common stock. against A49 per
rent. earned on the eame stock in 1914.
ne improved showing made by the COM
pany vas due TO a stringent economy
psactised regarding railway operating
expenses. which were decreased slo,%77.-
$50.
Operating revenues were Sei,si5.797
- compared with see. 10000 in 1914.
. decrease Of $7.34s.2l3. Total railway
operating expenses. however. were sSs,-
e35.50S. against S74.403.3Ss. Il decrease
" S10.477.S81. leaving "a net operating
revenue for 1915 OF S27.S?O. 900. as COM
pared With s~24.760.s2l for the year
previous. a gain Of s3.12?.ssS. The total
income OF tho property was s29.S42.5%5,
a. compared with s27.s57.i5s In 1914.
an increase OF 32.1s5.3s6 while the not
income was $40. 7sO.ssl. against se.sSo.-
V1S, MI iHCIcdrt U 1lOssuoi. Et'AAl
this amount 3:.354.52l was deducted for
preferred dividends. leaving a surplus
available for dividends on the common
stock Of 3s.36s,I27. against S6.S45.s33
in 1914.
There was paid In common dividends
during the year Of 1915 31.591.s53. ~
compared with payments OF Ss.11s.76e .
year ago. leaving a surplus for the year
Of e77l.<7@. against a dedcit OF S2.272.-
ss0 In 1914. This added to tile previous
surplus Of the company. left after minor
deductions a profit and loss surplus on
Juno 80, 1918. Of $32.575.5l+, as COM
pared with 332.S04.lss on June 80. 1915.
Freight revenue for the year amounted
20 Z o.7S0.S08. q decrease OF S5,6l1. 00S.
or 1856 per cent. The tons OF revenue
freight carried we're Si.S7j.595. a de-
crease OF 1912 per cent. Freight
revenues constituted 1909 per cent. of
the total operating revenues PASSENGER
revenues amounted to S1i.05e $40. a de-
crease Of $l.s3o.050. or 1l.32 per cent.
The total number OF passengers carried
was 2.SSl 1872. q decrease of 30 per
cent. II II stated that over $500 900 OF
the decrease In passenger earnings was
due to the cessation of immigrant bus
ness occas,oned by the disturbed cond!-
lions in Europe and that the remaining
portion reflects the general depression
. ~ ooSAtiCSS uht iiNH nv N'"'s
Referring to the ) per cent. rate case
xhe report speaks in that connection az
fellows:
while granting approximately only
Sne-half of tho immediate relief asked
for by the railroads. il should be en-
coufaEing to those interested In rail-
reads and in the proper industrial de-
volopment OF this country TO know that
me commission treated the question he
fore II In a broad way. and recognized
unanimously the necessities OF the car
riers for additional revenues and de-
,lared its purpose TO aid. so far as Il
legally may. In the solution Of tho
problem as 20 the course that the carriers
nay pursue TO meet the situation. IL Is
relieved that the inquiry has also served
{ o bring about "A much better understand
ing OF the railroad situation. II that
because of this the shippers, the rail-
roads and the regulatory genc.e of tho
public viii all In the future be better able
TO satisfactorily work out the many prob
Isms incident TO the governmental regu-
lation OF tho public utilities"
A. the annual meeting OF the com
pany held In Baltimore yesterday the
retiring directors were reelected.