Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1921-02-18


in costs and revenues subsequent to the |
application for the increase in rates had |
not occurred, it would have over $1,000 |
600 surplus per annum under ordinary |
traffic On the contrary, present results |
show deficits of $733,7e5 for September;
s1,257,4S7 for October; s1.s6s,os5 for Mo-
vember and an estimated deficit Of s17,-
S42,61s for the year ending September
1, 1921.
Present information from the bureau
of valuation indicates that the property
investment account will be exceeded over
s120, 100000, If the return was to be
based on valuation, instead of property,
investment account, the amount short OF
6 per cent would approximate t22,seo,-
1000, instead Of 315,soe, GEO.
Comparison with Western Reads.
In explanation of the cause OF the
greater difficulties of the New Haven
and in comparison with roads west:
| Cost of transportation Of fuel
] over foreign carriers has in
!. creased due to increases in
I rates~Which are in their be-
| half ...s....4..... 4s,uoV,vVS
| A less amount results in total
| from the rate advances, be-
+ cause they were greater on
| freight; New Haven traf1c
divided about $3.50; roads
west averaged Is p. G.
freight rs p. c. passenger. 1,seo,ooo
4 Effect of increases in fuel,
materials and labor; the in
crease for that portion Of
labor only covering the
4 greater number of ,em-
ployes required for performS
ance of distributive and ter
minal service ............. 100000
i Total-..I. ...s...''..s$ls,55V
In pursuance Of its constructive pro-
gram during the last several years the
following results have been obtained:
Approximately s4s,ooo,0eo have beer
expended on capital account. not inolud
ling approximately $4,000, 900, for equip
ment, which has been received undel
TRUST on which payments of $6,Soo,00t
have been made. These improvement
! have enabled a transportation record TO
j two years which. except for period o
strikes and weather adversely, woul'
have been without necessity for genera
embargoes.
Progressively increasing traffic Of 8
per cent. more in ton miles and IS pc
cent. in passengers one mile has bee
handled with an actual decrease approx
mating s per cent. in freight and passen
{ ger train miles, and a decreasing trend il
vi man hours; an effective exemplihcatio
4 | of operating economy.
e If the price levels of a few years ag
: could have been retained. the benefit
d from increased traffic, improvements t
: the property, operating economy an
rates advanced by the company, woul
Q have justified present consideration of
dividend. If in addition the mileage basi
: for the use Of freight cars. which was
. effect when present divisions were e,
: Itablished had not been subsequently r,
h placed by per diem, the property woul
Y now be on "a dividend basis =,
Returns from the bureau Of vaiuatic
d are now tentatively available.
d There has been careful attention. to II
l. readjustment of service and workir
e methods. pursuant to the practices estal
; lished under federal control.
it The course now ang taken Is In pu
d suance Of the provisions OF the tran
a portation act
Stockholders Lose, sss.eee,ses.
Through the discontinuaaee Of div
y dends, stockholders have suffered 10
st of roughly $4,000. 00e, AZ per cent. Of Il
Is par of their stock.
Ig For number Of years an analysis
80 revenues and expenses has been made.
D. consistently shows that passenger traf
sr has been at least fairly self supportin
n althouhg not sufficiently SO under t
rs present conditions of rates and operatii
es costs to carry its proportion OF the /
I'd vestment; that revenues from freight a
e absorbed by its operating expenses, vi
Of nothing for taxes and investment.
al The analysis Of freight trafic sho,
r approximately: