Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-06-08

out the city in order TO secure an
adequate power supply for satisfactory
and efficient operation. As soon as the
company can be placed upon a proper
financial basis this should be the first
work to be undertaken. The company
also requires an additional number OF
new closed cars: also new car shops and
new car barns as wei as additional
storeroom facilities"
The report stated. in closing. that
while the result of net earnings for
the year 1920 is disappointing, It is con-
fidently hoped that tho year 1921 will
show better earnings and that there will
be a return to normal conditions. The
future prosperity Of the company depends
in a large measure upon the cooperation
Of the stockholders and the good will Of
the public as well as the State and city
officials. II these conditions prevail It
is the hope of your board Of directors
that the payment OF dividends will not
be long deferred"
T. H., l. f. =. co. ALSO
REFLECTS OFFICERS.
Randall Morgan, Robert I. Todd. W.
Kelsey Schoepf. John J. Appel Joseph
A. MCGOWAN, James w. Lilly and Leroy
T. Hixson were re elected directors OF
the Terre Haute, Indianapolis q Eastern
Traction Company, at the annual meeting
OF the stock nolders this morning, and ut
the meeting of the directors the fellow
ing officers were re elected: President,
Mr. Todd; vice president, Mr.. Appel; sec
rotary and treasurer, Mr.. McGowan; au-
ditor, Leroy 7. Hixson.
The financial report for the year end
Ing December 81, 1920, showed, under
the head Of income account. gross earn
ings from operation, $5.3l6,2S7.I3; operat-
ing expenses. S3Sl5, 565.4S, net earnings
Of 81 ,51O 722 % and taxes Of 1912, 25S.JS,
leaving earnings from operation, less
operating expenses and taxes, 81 1873, 463.-
e.. Other income, a follows, made earn
lngs from all sources. less operating ex-
penses and taxes, S1,462Ol201; rental
Of Kentucky avenue freight terminal,
S12,5OOO1; dividends on stocks owned.
etc, s149. eO4.S5; sale of power, West
Tenth street power plant, SlOl ,l43.4s.
After various deductions, a surplus or
S412,O496 SO was shown in the report. from
which a sinking fund OF 2Sl616.l1 was
deducted, leaving a balance OF $3.50, 1892.
In the general balance sheet, Dec. 81,
1920. total capital stock was shown to be
So 100000 and preferred stock S9.l0OOOO.
In q table showing a comparative
statement of the gross earnings, operat-
Ing expenses, net earnings and taxes for
the years 1920-1919, the following is
shown: Gross earnings 1920, $5,316,-
2s7. 10; 1919, $3.50, 9S3.70 Increase. $685.
804O3. Operating expenses 1920, So
sos. 565.4s; 1919, S3.0s4. 30217; increase.
S721, 1881. Net earnings from operation
1920, S1,510.722.25; 1919, $1,S96,5e1.53; in
crease. S114130.72. Taxes 1920, 1912,
25s.58; 1919, $2e2,476O6; increase $49'-
1872 80.
In commenting on this the report says
that from this tabulation 1t WIN be
seen that the increase in operating ex-
penses during the year 1920, due to the
advanced price In coal. material and la
Dor, absorbed practically all of the in
creased earnings.
1.-THE taxes in all the counties through
which the company operates" continues
the report, were raised in 1920-the
average rate on the entire system being
S1.S5 as compared with S1.26 in 1919"
Under the head Of miscellaneous sta
tistics, for the year ending Dec. 81,
1920 the following features are shown ::
Passengers carried, interurban lines,
9,719, 30S; passengers carried city lines,
10, 81 91S; total passengers carried, 90,
391 ,226; freight handled (tOnsl, 1882 !;
express handled (tons). 1929; car miles
operated dnterurban lines), 5,S37, S7S; car
miles operated Getty lines), 3,444961 coal
consumed al power stations (tons), 261,-
239 power generated, main power sta
lions TX. w. h, 11S,527,211.