Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-11-22
THIRTY-TW0 MILLION DOLLARS 3
WORTH OF IMPROVEMENTS is \
PLANNEDBY THE new HAVEN
FOR THE next five YEAR,

Boston. Mass., Nov. 2l.-Thirty-t mil
lion dollars worth of improvements plan
ned by the New Haven railroad for th'
next five years were outlined for th'
first time publicly by President Howard
Elliott in an address before the mem
bers Of the Boston Art Club Saturda,
night.
He also sketched the hopes of the man
agement for the coming of conditions un
der which the payment OF DIVIDENDS q
New Haven stockholders may be resum
ed.
Speaking" on the topic MY WORK, tn
railroad head gave an account OF MI
stewardship as president of the New liza
ven during the last two years and half
recting detailed history of the effort:
to rehabilitate the road.
Then he outlined "a few of the pieces
Of work that should be done in order t
care for the present business of the com
pany, and to prepare somewhat for thu
future" as he said. These he announce,
as follows:
improvements Planned
Terminal Improvements about Bos-
ton, Providence, and improvements III
tracks and yards between Boston
and Taunton, sl0,o00,000.
Rebuilding Thames river bridge So
1000.
Three hundred steel passenger cars
s2,6OO.O00.
One hundred steam engines. $1,000,
000
Three thousand freight cars, So,
OO0. 900.
Better ballast, Sl.00o,oo0.
Better signals, Sl,000.000.
Improved terminal facilities. track
age yards, sidings, etc. S1.000,OoO.
Heavier bridges. s2,00o000.
Although the New Ravens earnings
have increased Of late until the road
is doing "a very handsome business
at present, Mr.. Elliott declared that
every cent is needed to pay off the
$50 900 900 floating debt and to meet
the cost Of the improvements out
lined.
re urged that the $4,000 small
stockholders of the road are entitled
to some return on their investment
and to this end. as well as for better
service. he pleaded that governmental
authorities. labor organizations, the
travelling and business public deal
with the road in spirit of fairness.
Means Several Years
In relation 10 the proposed improve
ments. amounting 10 s32,OoooN, lie said:
WORK Of this character would take
several years and the question of gettins
the money and doing the worl, is o.
great Importance 10 the welfare of New
Enclard. 1t seems. therefore, as if il
were 10 the interest Of all loyal citizens
to help carr! OF: some rational fiHancia
plan whereby the railroads can he ii
nanced 10 bring 10 close all Of the in
vestigations and to Join With the man
ace:rent in a constructive period in tht
history of the properties.
'',1ust now the public. the owners o.
these securities. the great army Of EN-
ployes, all feel encouraged about the i'm
proved results in the New Haven road
but let us look carefully At this. situa
ton for moment Fer the year ending
June -. 1913. the net available income o.
the company. after meeting all of its OBJ
legations. was sS92cc 2311.,s For the yea
ending June 81. 1914, it was s-6S. 6G2.S., ant
for the year ending June 60. 1915, S2.%o1,
91i.43 This result fer 1919 was accom-
plishel in spite Of the decrease in rev
enue of sa.07c, 332S.Go by a decrease in op
Grating expenses of So. 106.2Ss 90.
Gross Earning Decreases
IN the II months, oct, 1873 to Apri
1915, inclusive. the gross earnings Of tn,
company show large decreases over til.
corresponding month the year before, eX
cept Slight increases in February anC
March. 1915. Beginning with May 1915
there was slight increase which ha'
grown steadily. so that now the Compan!
is doing very handsome business. Blu
every dollar of its gross earnings tina
can be converted into net for some time
to come is needed to pay off its fioatin:
debt and to meet the cost of some of thu
that l have tried to outline
to you briefly
Abiding to the proposed divorce of the
New Haven from the steamship lines in
terchanging business at Fall River, New
port, Providence. New Bedford. New
London. Saybrook, New Haven anc
Bridgeport. now pending before the In
terstate Commerce Commission, the rail
road president said:
THE service between the steamship
lines and the rail lines is all CO. ordi-
mated so as to try to give the maxi
mum service to the great manufac-
turing interests of southern New Eng
land. These steamship lines are really
double and quadruple tracks upon the
water and il seems to us. who are
striving to furnish the best
of facilities. that it would be unfor-
tunate to dislOcate the New Haven
system any further and take these
boat lines away. If We knew we were
going to retain control of these steam
ship lines, we would take steps to add
to the fleet in order to better meet
the demands of increasing business.
He pointed out that So New Eng
land chambers Of commerce, boards Of
trade and civic organizations had gone
on record against the separa ton
Trolley Lines Sale
Pointing out that in the separation
Of the Boston & Maine and the Con-
necticut and Rhode Island trolleys the
New Haven was compelled to divest
g al &c toc, tai,