The Birmingham age-herald., 1924-01-28
WARRIOR SERVICE NEEDING BARGES
Port Officers Say Government - Has Not Supplied Equipment
 That Was Promised
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ment, which is the essential factor now lacking to enable the waterway under taking to prove itself in large way both useful and profitable. Years Summary
 The report summarizes the years ac tivities as follows:
 eve are filing herewith treasurer's financial statement as of December 3l 1923. to which we refer you and beg to direct your attention particularly tC the following items:
 "Gross annual rate of earnings on the total investment of $237, ,0S7.6O in. creased from per cent in 1922 to AZ per cent in 1923. The net indebtedness. decreased from S15,161.50 in 1922 to S6.51O.14 in 1923. At the present rate of tonnage movement, gross earning: from rental income during 1924 will more than liquidate the present indebt' edness. The company to this time has not been in position to pay any divi dends.
 Had the Mississippi Warrior serv- ice been able during 1923 to furnish floating equipment in sufficient quanti ty and of proper character, additional downstream tonnage offering would have been sufficient to increase the revenues of the Port of Birmingham company by approximately $3,200, and raised it's rate of earning on investment by approximately 11a per cent. This condition is discussed later in the re- port under the head of Tonnage
 Tonnage Report
 "We attach statements showing total movement of tonnage by the Warrior river section of the Mississippi Warrior service during the years 1921, 1922 and 1923, and also movement of tonnage through Birmingport in the same periods. The following facts shown by the statements are highly interesting and of special importance:
 "The total Warrior river tonnange increased:
 In 1922 over 1921. ...... .12,812 tons In 1923 over 1922. .'..... 15,036 tons
 "The tonnage through Birmingport increased:
 In 1922 over 1921. ..... .16,642 tons In 1923 over 1922 .37,927 tons
 Tt is apparent from these figures that the Warrior river tonnage other than that moved through Birmingport decreased during 1922 and 1923 as com pared with the movement during 1921 and that the increase through Birming- port more than offset the shrinkage at other points. Two of the outstanding causes for this shrinkage in the total tonnage were:
 Il. Lack of proper and sufficient floating equipment to move the tonnage offered and available.
 '.2. Delay in securing reasonable division between railroads and river of through rates applied on tonnage originating or destined beyond the river bank and therefore carried partly by rail and partly by water.
 Because of the loss resulting to the Mississippi-Warrior service in the handling of this class of tonnage under the negotiable divisions allowed by the rail lines, the Warrior river section was compelled to withdraw many of it's tariffs and to refuse to accept business of this character offered at various points. such as Tuscaloosa and Demop- oils. Through a decision of the inter- state commerce commission handed down late in 1923, divisions have been ordered which increase the proportion allotted to the water carrier. Tariffs are now being prepared on the new basis"