The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-12-13
RAILWAY
RECEIPTS MOUNT
STEADILY HIGHER
leport Of Appraisers Probably
win Indicate That Company
Can Make Ample Revenues
From Five-Cent Fare.

The forthcoming report oftthe three
appraisers who have been at work on
valuation of the properties of the
iemphis street railway probably win
idicate that the company is now aRply
Bile more than to make both ends
beet on a scent are basis.
indeed, it would h no surprise If the
eport shows that tho company can be
eturned by the receivers to its own
rs Ia good shape.
There Is no question that for the past
eW months the company has been do
rom France would say In fact, any
ne who &des fon the street cars will
gree that they have never been SO
rowded. Mr.. Tutwler himself admits
hat the volume of business is the larg-
st in the company's history
The three appraisers probably will be
pie to complete their report for the
ate utilities commission some time
Bring the coming week. The report
bs TO have been due month ago. but
ae work was not completed and they
sre given until Dec. Is.
~ Is probable that the actual ply
pal valuation of the property will fall
low $10000,000.e II that is shown by
3e report, it will practically wipe out
30 value Of the companys stock of
poo 900, as the company has approx
lAt ely 100000 in bonds outstanding,
has been fixed by the state public
ties act and the orders of the state
9sH misSion that the company is enti-
,Ea to charge rate for passenger
res which will produce reasonable
&tilrns on the actual values OF the
E1pcrties- 1t was to ascertain that
fIEe that the appraisal was ordered
Co.. fe Aff at
ss8A June. A statement recently made
NE. Tutwiler, one Of the receivers
3s4 president of the company, at ar
ss5H meeting of the city commission
NA$ hat the company now Is doing tho
sYest business In its history.
- b recent report submitted by the
seeiNers to the United states court, it
HH8 Known that the gross receipts from
marathon since Jan. 20, the date OF the
eiRership, had been $1,S00,000 from
hat nate to Nov. |.
81 SEt iii said that the monthly reports Of
iserAtlpn, which will be filed as part OF
ke general report Of the appraisers
ilj show that the company has beer
RerRging this year about $4,000 9
diflA sEs net receipts from operation
ftb would be slightly more than 81,
90 200 a year net receipts.
Unt Of that operating revenue thu
olnpany must Ray the interest on its
ppKidB, approximately half q million {
nAFN Out Of the remainder, operation
ma Cost Of maintenance must be fig
&lFeos which includes the sum set aside
lf1nuAlly for maintenance and replace
sneiit reserve account. Any net balance
at course would go to pay dividends or
he S., 100000 of stock.
But the reports of monthly operation
la0 show that the revenues from OPP
fhtion have been steadily mounting
month by month. at least ever since TIN
#iNaE of July. The gross receipts from
I'd ares. for example, from July ! to Sept
were s726,9S7. which is a gross rev
i2ue OF S262,312 month for those par
frular three months.
MI When the report of the three apprais
sfs Is made, it is probable that Ross w
S5ihrris, the representative of the city
5*xin file supplemental report, as IT i
5&2fitl erstood that he does not agree alto
4&xhg her with the findings of the tW'
s83fher appraisers on some matters.
III Fhe hearing on the report probabl,
3*Fsll come VI at Nashville some TIM
3EihrinE January when w. p. Armstrong
9NSvho will be the new city attorney will
] #ftempt to have an order issued by tn
i &4ate commission reducing the passen
h &lhr fares again to cents. 1t has no
zen officially confirmed that Mr.. Liv
A&Bgston will be retained to assist him Il
q mis- and other public utility hearings
s E9ut that arrangement probably will b
YHhRde.