Estancia news-herald. [volume] (Estancia, Torrance County, N.M.) 1912-19??, 1915-11-18
n. N. c. RAILROAD
MATTERS

h'sh' al Iei oil dDSeIce OI SeVefa
weeks in California and in Chi
cago on railroad and private
business.
'Seyenty-three railroads are
in the hands of receivers" sale
Mr.. Ely today, which means
that 72 other railroads are in the
same condition as the New Mex.
leo Central. However, investors
are now turning to railroad in.
vestments and the prospects for
an early reorganization of the
| New Mexico Central are good"
In the fiscal year ending June
30, last, the New Mexico Central
railway operated at a net loss of
S25, ,867 So, according to the an
nual report of the company, just
filed with the state corporation
commission here.
The report places the total op-
Grating revenue at $685. ,552 II,
and the operating expenses at
SIG, 505.75. To the operating de-
ficit of $6,953.5S are added tax
accruals of $12, 366. 0S; uncollect-
| able railroad revenue of $6. go;
freight car hire of $19, 1926 68;
joint facility rent of SIS. .73; inter-
est on the funded debt of So, 400,
and interest on the unfunded
debt of So, 209. SO, a total of $685.
867. so.
The freight revenue of the
road amounted to $40, I'll %, and
the passenger revenue to $19,-
1898. The passengers carried
in the year numbered 9,511, and
the tons of revenue freight to-
tailed 1922. Of this freight,
6,633 tons originated along the
line Of the road, the remainder
having been transferred to the
New Mexico Central by other
roads. Of the freight originat-
ing in New Mexico Central ter
ritory, agricultural products to-
tailed 985 tons; livestock and live
stock products, 707 tons; mine
products, 458 tons; forest pro-
ducts, 2,575 tons; and manufac-
tured products, 447 tons. The
miscellaneous freight amounted
to PIG tons, and that handled in
less than carload lots to 1 ,242
tons.
The road had a revenue in the
year from mail of $6,122.81; ex-
press. $945.58; excess baggage,
$22,37, and switching, $977.
The report shows that the re-
ceiver's certificates outstanding
at the end of the fiscal year
amounted to $50,000.
In the statement of stock held,
the Pennsylvania Development
company, of Pittsburg, Pa, is
credited with the ownership of
21, ,621 IL shares, par value $100;
Francis J. Torrance, of Pitts
burg, 725 shares; Arthur Ken
nedy, New York, 725; w. S.
Hopewell, Albuquerque, 1,126;
C, NJ. Capilupe, Albuquerque,
81 1-2; T. j. Wright, Albuquer-
que, 142, and ]. T. Mclaughlin,
Albuquerque, 562. New Mexi-
can.
Ralph G. Ely, receiver of the
New Mexico Central railway, to-
day announced the appointment
of Frank W. Clancy, attorney |
of New Mexico, as gen.
eral counsel Of the New Mexico
Central. He succeeds E. w. |
Dobson, of albuquerque, whose |
resignation was submitted to Mr.. |
Ely when he took charge as re-
ceiver last January, but which |
was accepted only a few days
ago.
Receiver Ely also announced |
the appointment of W. E. Brock, |
of Chicago, a we'll known finan-
cial agent and broker Of that city, |
as assistant to the receiver, to
Col. w. S. Hopewell, of |
Albuquerque, who resigned a
few days ago. Mr.. Brock and
Mr.. Ely have been close personal /
friends for many years, and the
Chicago man will assist the New |
Central receiver in plans
for a reorganization of the road. |
He has already taken up this
work.
The retirement of Messrs. |
Dobson and Hopewell marks the |
passing of the old New Mexico
Central crowd" so far as any |
official connection with the line
is concerned. Mr.. Ely and his
are now in charge of |
all departments of the road. II