New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-30

regular quarterly dividend Of ~ per
cent on the preferred stock. I. T.
Shonts. head Of the system, said:
The gross operating revenues OF the
Interborough Rapid Transit Company
for the three months ended June 80
1917 May being partly and June
wholly estimated was Sl0.256,0OO, an
increase Of Ss23,2s6 over the core
spending period last year. Owing. how
ever. TO inceases in operating expenses
taxes and other charges, the net cor
porate income is estimated TO be 81
100000, or S143,4l0 less than last year.
"The net corporate income for the
year is expected TO be S9,O4I ,6b4, an
increase of Sl55.6i9 over last year.
"The surplus balance over dividends
on March 81. 1917. was Sl9,039,7i9. On
June 80. after paying interest, taxes
and charges, the company IS expected
to have a total estimated surplus
amounting TO S21.3i6,749."
The surplus balance OF the INTERIOR
ough Consolidated on March 81 last
Mr.. Shonts stated. was s2,S97,000, or
nearly 100000 larger than expected
The company will receive on June 80
the per cent dividend on its Inter
borough Rapid Transit Company stock.
That. added to interest and dividends
on other securities owned and interest
on bank balances, will make a total OF
S3,731.537.
After making all deductions for in
terest, taxes and charges. it is esti-
mated that the net surplus of June 80,
1917. will be $2s02,444. out of this
net surplus S750,O00 has been appropri-
ated to pay off notes held against the
company by the Bankers Trust Com
pany. This will leave an estimated
surplus balance available for dividends
at the end Of the fiscal year amounting
to S2,052,4ii.
Atchison. Topeka & Santa Fe. T.. P.
Ripley. president of the company. in
an interview with the Chicago CORE
spondent Of Dow. Jones e. Co, said:
THE Santa Fe's net for April calls
for an explanation. in view of the large
gross gain. We are now feeling the
full effect OF higher cost of materials
and wage advances, and it happened last
month that we advanced the wages OF
unorganized employees 10 per cent, and
we decided TO put this advance back
TO be effective as of January /. We
therefore took out of our April earn
ings not only that portion of the pay
roll excess which applied to April. but
also what applied TO the three preceding
months. All the back payments which
accrued up 10 May / have, therefore,
been taken care Of. amounting to about
100000 for about So per cent of all
our employees. or approximately $4,000.
This advance has been termed volun-
tary. but it was necessitated by pres
ont conditions
Union Pacific Railroad.-April oper-
ating revenues of the system were S10,-
620,635. an increase of S2,141. sos over
the corresponding month of last year;
net operating income, after taxes, was
S3.760.2S0. an increase of 1927 $50. In
the first four months Of the year gross
revenues were s35.949,s34. an increase
Of $3.336,945. while net. after taxes,
amounted to S10,16O007. a decrease of
S1,349,192. compared with the CORE
spending period Of 1916.
Canadian Pacific-April gross OF the
system totalled S12,355, 500, compared
with $1o.SS1 ,3O6 in the corresponding
month of 1916; net. S4.174.97S. against
$3,733,736 in April last " Net earn
ings in the first ten mo- the cur
rent fiscal year were ,43.404,5S
against S41,16i.004 in the corresponds
ing period of 1916.