THIRTY-SECOND ANNUAL REPORT

OF THE

Lake Shore & Mich igan Southern

RAILWAY COMPANY.

T h i r t y - s e c o n d A n n u a l R e p o r t

BOARD OF DIRECTORS

O F T H E

Lake Shore & Mich igan Southern

R A I L W A Y C O M P A N Y

TO T H E

S T O C K H O L D E R S ,

FOR T H E

FISCAL Y E A R ENDING DECEMBER 3 1 , 1 9 0 1 .

CLEVELAND, 0. TilK G. K. SAEORE PTG. CO.

1902.

I N D E X .

P A G E .

B A L A N C E S H E E T - - 12

C A P I T A L S T O C K 6

D I R E C T O R S A N D O F F I C E R S 3

D I R E C T O R S , C H R O N O L O G I C A L L I S T ___ 2 8

E A R N I N G S A N D D ISPOS IT ION O F I N C O M E 7

E A R N I N G S A N D E X P E N S E S , I N D E T A I L 14, 15 , 16 , 17

E A R N I N G S , E X P E N S E S , E T C . , 1 0 Y E A R S 24

E N G I N E E R ' S D E P A R T M E N T S T A T I S T I C S - 19

E Q U I P M E N T . 2 0

F U N D E D D E B T - 6, 11

I N C O M E A C C O U N T . 10

I N V E S T M E N T I N L E A S E D L I N E S - I S

L O C O M O T I V E D E P A R T M E N T S T A T I S T I C S - 2 1

M I L E A G E S T A T I S T I C S - 26

M I L E S O F R O A D O P E R A T E D _._ _ - o, I S

O P E R A T I O N S F O R T H E Y E A R - - 7 , S

S T O C K S A N D B O N D S O F O T H E R C O M P A N I E S O W N E D 13

T R A F F I C S T A T I S T I C S , F R E I G H T 2 2 , 2 5 , 2 7

T R A F F I C S T A T I S T I C S , P A S S E N G E R - — - - - - 2 3 , 2 5

3

O R G A N I Z A T I O N .

. D E C E M B E R 3J , 1901.

DIRECTORS {IS.)

W I L L I A M K . V A N D E R B I L T . New Y o r k . F R E D E R I C K W . V A N D E R B I L T N e w Y o r k . C I I A U N C E Y M . D K P E W New Y o r k . W I L L I A M H . N E W M A N _ ___ New Y o r k . E D W I N D. W O R C E S T E R New Y o r k . S A M U E L F . B A R G E R New Y o r k . H A M I L T O N M c K . T W O M B L Y - New Y o r k . J . P I E R P O N T M O R G A N New Y o r k . D A R I U S O. M I L L S _. _ New Y o r k . W. S E W A R D W E B B _._ New Y o r k . W I L L I A M C. B R O W N _ C l eve land , O. C H A R L E S M . R E E D E r i e , P a . J A M E S M . S C H O O N M A K E R . P i t t sburgh, P a .

OFFICERS. • O F F I C E

Chairman of the Board C H A U N C E Y M . D E P E W New Y o r k . President W I L L I A M H . N E W M A N C l e v e l and , O . Vice Pres't, Treas. and Sec'y E D W I N D . W O R C E S T E R New Y o r k . Vice PresH and Gen'l Manager W I L L I A M C. B R O A V N C leve land , 0 . Assistant Treasurer D W I G H T W . P A R D E E New Y o r k . Local Treas. and AssH Sec'y N I C H O L A S B A R T L E T T C l e ve l and , 0 . General Counsel G E O R G E 0. G R E E N E C l eve land , O . Ass't Gen'l Counsel O S C A R G . G E T Z E N - D A N N E R C l e ve l and , 0 . Auditor R O R E R T H . H I L L C l eve land , O . Assistant Genfl Manager P H I N E A S P . W R I G H T C l e ve l and , 0 . General Superintendent. A L F R E D H . S M I T H C l e ve l and , 0 . General Traffic Manager G E O R G E J . G R A M M E R C l e ve l and , O . Gen'l Passenger and Ticket Agent _ _ A L V A J . S M I T H C l eve land , O . Ass't Gen'l " " " . . E L I S H A C. L U C E . . C l e v e l and , O . Chief Engineer E D W A R D A . H A N D Y C leve land, 0 . Sup't Motive Poxoer W A L D O H . M A R S H A L L C l eve land , O . Purchasing Agent . . F R A N C I S H . G R E E N E C l e ve l and , O .

The a n n u a l meet ing of s tockholders for the e lect ion o f directors is h e l d in the c i ty of C l eve land , Oh io , on the first Wednesday i n M a y .

GENERAL OFFICES, Corner St. C l a i r a n d Seneca Stree ts . . NEW YORK OFFICE, G r a n d Cent ra l Stat ion

. . C L E V E L A N D .

. . . N E W Y O R K .

5

R E P O R T .

To the Stockholders of the

Lake Shore tfc Michigan Southern- Railway Company:

The Board of Directors submit the fo l lowing report for the year ending

December 31 , 1901.

R O A D O P E R A T E D .

M i l ' s . Owned by L- S. A M . S. R"y Company 860.53 Seven proprietary roads - 231.83 Five leases roads 319.30

Total length of road operated 1411.16 Second track 521.99 Third track 9-63 Side tracks - 837.72

Total miles of traek. all steel rail except 2.93 miles 27SIL50

F o r the detail of the mileage of tracks operated, location, etc., sec

page 18.

I

CAPITAL STOCK.

T h e capita l stock of the company has remained unchanged siuce 1871,

and is as fol lows:

G u a r a n t e e d (10 p e r cent . ) 5,335 shares—8100 4 533,500 C o m m o n 494,665 shares -8100 49,466,500

T o t a l 500,000 shares—4100 450,000.000

FUNDED DEBT.

Exchanges of 3 | per cent, gold bonds were made dur ing the year for

1329,000 consolidated second general mortgage 7 per cent, bonds.

A s a result of exchanges since J u n e 1, 1897, the total amount of old

bonds ret ired has been $36,880,000, the funded debt has increased $6,239,000

and an annua l interest saving of $1,072,435 has been effected.

A detailed statement of the funded debt is g iven on page 11.

FINANCIAL RESULTS FROM OPERATION.

T h e f o l l o w i n g i.s a condensed statement o f the Income A c c o u n t for the

y e a r :

firos* earnings Irom ope ra t i on . . . . . . t 29,272.674 76 Operating expenses and taxes « » .04%) 20.2lo.229 06

NET EARNINGS r*ov OMRATION S 9,062.445 70 IKCOMK FBOX O T U I SOURCES 1.329.239 «<

G R O S S I S C O M R 5 lii.391.735 39

Charges against income: Interest on landed debt, accrued % 2.037.525 67 Rentals of leased lint's U16.6U4 06 Interest on bills payable, accrued 229.131 00 T e n per cent, d iv idend on guaranteed stock B U M 00

TOTAL S 3.236.610 73

llnlniicc of Income 3 7.15.V124 66 Dividends, seven per cent., common slock 3.402.G56 OH

SyKI'LUS Ktill TIIK TWKI.VK MONTHS 5 3,692.169 60

Statements appended to this report show the fiuaucial resul ts i u d e t a i l .

8

Compar i son w i th the prev ious year shows (he f o l l ow ing resul ts :

Earnings from frelgbt traffic increase $1,298,67003 7.09 per cent. Earnings from passenger traffic Increase 51,422,420.77 26-43 per cent. Earnings from mails, express, etc increase 3 85,069.97 3.08 per cent. tiross income from operation Increase $2,806,160.77 ...10.60 per cent. Number tou* moved, revenue freight increase 1.683.950 S.48 per cent. Number of passengers carried increase 086,707 19.87 per cent.

T h e ton mileage, revnm.' , f re ight , increased 10.H5 percent . ; the mileage

of loaded cat's increased 7.29 per cen t . ; the mi leage of f r e i gh t t ra ins de­

creased 5.16 per ceut. T h e average l oad per f r e i gh t t ra in mi le , revenue

f re ight , was tons, increase 16.67 per cent. The average rate per ton

m i l e was 0.489 cent ; last year 0 .505 cent ; decrease 3.17 per cent.

Passenger mileage increased -12.15 per cent. , th is increase be ing due in

par t to the P a n - A m e r i c a n K x posit ion business. T h e average rate per

passenger mi l e was 1.81 cent against 2 .03 cents last year , decrease 10.84

per cent.

EXPENSES.

T h e o p e r a t i n g e x p e n s e s , i n c l u d i n g a l l t a x e s , n e w e q u i p m e n t a n d

b e t t e r m e n t ? , w e r e

In 1901 520.210,229 09.04 per cent, of earnings. In 1900 — 17.307,795 65.40 per cent, of earnings.

Increase 5 2.902.434

O p e r a t i n g expenses in 1901 inc luded the f o l l ow ing charges for extra­

o rd ina r y expend i tures : for new equipment purchased , $3 ,589 ,079 ; for new

side t racks , $150 ,194 ; for construct ion and betterments, §597,063, wh i ch

latter expend i ture may be summar i zed as fo l lows:

Second track ... . - .. • $ 85,31 fi Separation of grades • - 31,000 New shops. Colltnwood 131 .W0 New bridges 166.316 New N a t i o n b-jildiiigs.. 120.033 Other new buildings - 2,850 Electric block signals 3.378

Total $597,063

9

T h e increase i n the expenses of operat ion is due to the constant g rowth

of the traffic moved over y o u r l ines , necessi tat ing a large expend i ture for

maintenance of way and structures and maintenance of equipment .

The passenger station on V a n B u r c n Street in Ch icago , owned j o in t l y

w i t h the Ch icago , Rock Is land & Pac i f i c R a i l w a y C o m p a n y , was abandoned

a t the close of the yea r 1901. A new stat ion is now i n process of erect ion

and temporary arrangements have been made to use the t e rm ina l fac i l i t i es

of the G r a n d C e n t r a l S t a t i on i n Ch i cago for th is c ompany ' s passenger and

mai l serv ice .

In the text of the a n i m a l report for the year 1900, reference was made

to the i tem of B i l l s Payab l e , $6 ,000 ,000 , wh i ch appeared in the G e n e r a l

Ba l ance Sheet for that year. T h i s item has been reduced $2 ,000,000 by

the app l i ca t i on of surplus earn ings ; and by a fur ther app l i ca t i on of such

earnings the company acquired d u r i n g the past year §3,200,000 in the

cap i ta l stock of the L e h i g h V a l l e y R a i l r o a d C o m p a n y a t a cost of

$1 ,920 ,000 .

T h e results of operat ion are shown in deta i l in the financial and statis­

t i ca l tables appended.

C H A U N C E Y M . D E P E W ,

C H A I R M A N ,

W I L L I A M H . N E W M A N ,

P R E S I D E N T .

10

I N C O M E A C C O U N T .

Credit balance December31, 1900 $ 11.248,632 74 Credit balance, year 1901, a l ter payment dividends, seven per cent 3,692,469 66

S U . 9 4 M 0 2 40 Payments incidental to exchange ot m m i i i m m l bonds lor new 3K

per Cent, gold bonds. . . . 8 32,829 50 Sundry accounts written off 1U .832 93

147,662 43 Sundry accounts credited 1.226 80

$ M6.435 63

Balance to credit income account, December 31,1901 - 8 14,794,666 77

T A B L E A . J l

F U N D E D D E B T , I N T E R E S T , E T C .

DESCRIPTION.

Miles included in mort­

gage. Date of issue. Dare of

maturity-Amount

our.sCHini-ing.

Rate of Interest

when payable. Ann ual interest.

T H I S C O M P A N Y ' S BONDS.

Consolidated second general mortgage 850

*1000

Dec. 1,1873

June J. *897

Dee. 1.1903...

June 1,1997...

& 6.312.000

43,119.000

8 441.840 850

*1000

Dec. 1,1873

June J. *897

Dee. 1.1903...

June 1,1997...

& 6.312.000

43,119.000 $xAt J u n e and December

8 441.840 850

*1000

Dec. 1,1873

June J. *897

Dee. 1.1903...

June 1,1997...

S-19,431.000 SI .901,005 S-19,431.000 SI .901,005

G U A R A N T I E D B O N D S .

Detroit. .Monroe & Toledo ; 6ft Aug . l . lS76 . . .

J a u . ],1S00...

Dec. 1,188ft...

Aug. 1.1906...

Jan . l , m o .

Dec. 1. 1989...

& 924.000

400.000

+401.000

1'/' February and August SW.080

20,000 Kalatna/.oo .t White Pigeon

6ft Aug . l . lS76 . . .

J a u . ],1S00...

Dec. 1,188ft...

Aug. 1.1906...

Jan . l , m o .

Dec. 1. 1989...

& 924.000

400.000

+401.000 b$ January and Ju ly

SW.080

20,000 Sturgls, Goshen i S t . L o u i s

6ft Aug . l . lS76 . . .

J a u . ],1S00...

Dec. 1,188ft...

Aug. 1.1906...

Jan . l , m o .

Dec. 1. 1989...

& 924.000

400.000

+401.000 3$ December and June

SW.080

20,000

Tota l

6ft Aug . l . lS76 . . .

J a u . ],1S00...

Dec. 1,188ft...

Aug. 1.1906...

Jan . l , m o .

Dec. 1. 1989...

81.725.000 $90,710 81.725.000 $90,710

L E A S E D L I N E B O N D S .

Kalamazoo, Allegan & Grand Rapids

m

Ju ly 1.1889...

Ju'.y 1,1884...

July 1,1938...

Ju ly 1.1081...

3 840.000

l.SOO.000

14 Jannary and July $42,000

"5.01 Mi Mahoning Coal Railroad m

Ju ly 1.1889...

Ju'.y 1,1884...

July 1,1938...

Ju ly 1.1081...

3 840.000

l.SOO.000 :->?< January and J u l y

$42,000

"5.01 Mi m

Ju ly 1.1889...

Ju'.y 1,1884...

July 1,1938...

Ju ly 1.1081...

$2,340,000 $117,000 •

$2,340,000 $117,000

•Includes leasehold r ight on proprietary roads, 154 miles. t luc ludes $79,000 Batt le Creek & Sturgls first mortgage bonds on road Sturgis to Findley,

C O N D E N S E D B A L A N C E S H E E T , D E C E M B E R 31, 1901. 12

A S S E T S .

C o s t o f R o a d a n d E q u i p m e n t

C o s t o f o t h e r r o a d s o w n e d (see table B, page 13).

I n v e s t m e n t o f C o m p a n y i n L e a s e d L i n e s : (see table C. page 13»

Represented by stocks, bonds and account-

384,000,000 00

5,344,309 11

2.396.801 74

S e c u r i t i e s o f o t h e r c o m p a n i e s : ( w table I>. page 13) Stocks owned 326.800.357 11 Bonds owned 291,235 24

27.091.592 .35

R e a l e s t a t e p u r c h a s e s

M a t e r i a l s a n d s u p p l i e s o n h a n d

663,758 80

1,343.585 58

CURRENT ASSETS.

Cash i n hands of Treasurer Cash In bank for payment of Interest Capital advanced to Fast Freight Lines, etc. Due by station agents Traffic balances receivable Miscellaneous collectible accounts

33.597,081 70 33.571 24 32,078 81

478,467 17 485,720 12 511,303 24

5,138,222 28

$ 1 2 6 , 9 7 8 , 2 6 9 8 6

L I A B I L I T I E S .

C a p i t a l S t o c k : Common 349.466,500 00 Guaranteed. 10 per cent 533.500 00

850,000,000 00

F u n d e d D e b t (see table A, page 11) . . . 50,755.000 00

B i l l s p a y a b l e 4.000.000 00

CURRENT LIABILITIES.

Dividends payable February 1,1902 $1,758,002 50 Interest and dividends uncalled for. Accrued Interest and rentals Accrued taxes Audited pay-rolls and vouchers Traffic balances payable Due railroads In general a c c o u n t — Miscellaneous accounts payable . . . .

49.504 29 259,426 79 25,000 00

1,754,569 13 76,562 85

554,084 70 1,951.452 83

Balance to credit of Income or Profit and Loss Account. December 31,1901

6,428.603 09

14.794.666 77

C O M P A R I S O N . 1 9 0 1 - 1 9 0 0 .

Assets increased $ 2,319,369 56 L iab i l i t i es decreased 1.226.664 47

INCOME ACCOUNT.

December 31,1901 S14.794.666 77 December 31,1900 LJ ,218,632 74

S3.546.034 03

$3,546,034 03

$ 1 2 5 , 9 7 8 , 2 6 9 8 6

I

1 3

T A B L E B .

COST OF O T H E R R O A D S O W N E D .

Detroit , Monroe Sc Toledo Rai l road . . . * 1,796,001 67 Detroi t & Chicago Rai l road 788.073 09 E l k h a r t & Western Rai l road 225,000 00

Jackson Coal Ra i l road 23. i 8 0 79 Kalamazoo & White Plgeou Ual l road 610,000 00 Northern Central M ich igan Rai l road 1,357,000 00 Si lver Creek & D u n k i r k Ra i l road 484,201 72 Sturgls, Goshen & St. Louis Ra i l road 20.851 84 Swan Creek Rai lway 40.000 00

Total 3 5.344.309 11

T A B L E C .

I N V E S T M E N T O F C O M P A N Y IN* L E A S E D L I N E S .

Jamestown & F r a n k l i n Rai lroad, stock S 34S.937 00

Jamestown & F r a n k l i n Ra i l road l 5 d m V & . M o i S So} ™ 0 0

Jamestown & F r a n k l i n Rai l road, open account 746.879 74 . . . _ - , T> „ I I - ^ « ^ 17,318 shares Common Stock 1 va ix f i i im Mahoning Coal Ra i l road 7,990 •* Preferred " ) oro.-wo ou

Tota l S 2.396.801 74

T A B L E D .

S T O C K S A N D BONDS O W N E D .

V A L U A T I O N .

Cleveland, C inc inna t i . Chicago &. St. Lou is Rai lway Co., stock $ 7,111,065 37 Lake E r i e & Western Ual lroad Co., stocks 5,847,016 78 Lehigh Val ley Rai lroad Co., stock 1.920.000 00 Merchants Despatch Transportat ion Co.. stock 575,700 00 Mahoning State L ine Rai lroad Co., stock 450 00 New York . Chicago k St. Lou is Ra i l road Co.. stocks S.447,746 94 Pi t tsburgh & Lake Er ie Ra i l road Co., stock 2.675,696 27 Pittsburgh & Wheeling Coal Co.. Scr ip 22,681 75

Termina l Rai lway of Buffalo, stock 200,000 00 Terminal Railway of Buffalo, 1st mtg. bonds 262,255 24 P i t tsburgh, Chart lers & Youghiogheny Rai l road, 1st mtg. bonds 28.980 00

Total S 27,091,592 86

14

E A R N I N G S A N D E X P E N S E S .

1 9 0 1 . 1 9 0 0 . I N C R E A S E . D E C R E A S E .

E A R N I N G S .

F r o m freight $19,616,096 71 $18,317,426 6S SI .298,670 03

F r o m passengers 6.S05.20S 13 5,382,787 36 1,422,420 77

2.3S2.48S GS 2.307.92S 67 • 74,560 01

46S.SS1 24 458,371 2S 10,509 96

S29.272.674 76 326,466.513 99 S2.S00.16O 77

E X P E N S E S .

Maintenance of way and structures S 3.392.964 26 3 3.0S9.831 50 $303,132 76

2.314.618 70 1,788,120 04 526.49S 66

Conduct ing t ransportat ion 9,803,052 41 9.090.305 44 712,746 97

402,595 73 362,578 95 40,016 78

Taxes 707,918 46 709,134 31 $1,215 85

TOTAT $16,621,149 56 315,039,970 24 Sl„-581,179 32

3,589,079 50 2,267,825 00 1.321,254 50

G R A N D T O T A L E X P E N S E S - $20,210,229 06 $17,307,795 24 52.902,433 82

£ 9,062,445 70 $9,158,718 75 596,273 05

1,329,289 69 749,620 76 S579.66S 93

$10,391,735 39 $ 9,908,339 51 8483,395 S3

3,236,610 73 3.249.909 21 $13,298 48

N E T I N C O M E S 7.155.124 6 6 S 6,658,480 30 $496,694 36

15 D E T A I L O F E X P E N S E S .

ACCOUNTS .

M A I N T E N A N C E OK W A Y A N D STRUCTURES .

Repairs roadway Renewals of rai ls Renewals of ties Repairs and renewals bridges and culverts Repairs and renewals fences, road crossings, etc. Repairs and renewals buildings and fixtures Repairs and renewals docks.wharves & much ' y . . Repairs and renewals telegraph Stationery and pr in t ing Other expenses

M A I N T E N A N C E OP EQUIPMENT .

Superintendence Repairs locomotives Repairs passenger cars Repairs freight cars Repairs work cars Repairs and renewals marine equipment Repairs and renewals shop mach'y and tools Stationery and pr in t ing Other expenses _

CONDUCTING TRANSPORTATION.

Superintendence Enginemen Roundhouse men Fuel for locomotives Water supply for locomotives Oi l , tallow and waste for locomotives Other supplies for locomotives Tra in service O i l , ta l low and waste for cars Tra in supplies and expenses Switchmen, flagmen and watchmen Telegraph expenses Stat ion service Stat ion supplies Swi tch ing charges—balance Car mileage—balance Loss and damage In jur ies to persons Clear ing wrecks Adver t is ing . . ' . Outside agencies Stock yards and elevators Rents for tracks, yards and terminals Rents of bui ldings and other property Stat ionery and pr in t ing Other expenses

G R N E R A L E X P E N S E S .

Salaries of general officers Salaries of clerks and attendants General office expenses and supplies Central rai lway c lear ing house Insurance Law expenses Stationery and print lng(general offices) Other expenses _

T A X E S

T O T A L O P E R A T I N G E X P E N S E S A N D T A N K S

1 9 0 1 .

3 1.502.781 79 371.010 89 423,372 73 273.777 57 145,680 97 583.722 62 48.658 24 38,439 VI 4,971 66

542 37

84.837 11 879,553 06 239,538 35 764,309 42 29.059 22

7,167 76 177.016 52

7.753 63 125,353 63

278,720 01 1.377,294 42

272.S94 60 1.444,549 75

9S.7S3 26 611.706 74 30,792 54

1,063,299 51 67.288 88

190,945 1 6 1,044,182 6S

330.394 S2 1,505.723 S6

95.207 57 25,980 46

889.369 HI 143J 67 04 201.506 99

32.917 89 51.626 19

319.598 03 9,976 37

108.160 00 32,534 84

112.494 01 5,936 SS

81.899 98 160,294 09

9,707 46 43,421 40 2,257 07

SI .752 10 10,579 22 12,684 41

707.918 46

$16,621,149 56

1 9 0 0 .

$ 1,546,217 98 241.241 22 385,218 90 177,629 56 138.484 30 587.411 59 24.995 20 33.081 58 5,089 29

461 88

72.453 80 567.859 85 267,379* 90 663.916 90 20,273 54 3.514 00

96.715 01 5.983 53

90,01S 51

273.062 54 1.316.487 66

234.259 4« 1.339,918 13

89.353 32 4-5.734 33 19.715 54

1,028,3(11 83 57,538 51

144,962 42 980,421 09 318.394 22

1,405,910 28 91,490 22 86,534 20

831,839 32 104,752 94 153.894 91 28.400 67 37,588 25

312,317 65 9.341 22

94.562 79 32,260 63

104,678 36 3.584 88

82.623 11 157.144 70

8.080 47 36.656 77

30 96 541,163 04 1(1.203 44 8,676 46

709,134 31

$15,039,970 24

I N C R E A S E . D E C R E A S E .

129,775 67 33.153 33 96.148 01 7,196 67

46,311 03 23,663 04 5,357 84

SO 49

12.383 31 311,693 21

100,392 52 8,780 68 8,653 76

80.331 51 1.770 10

35,335 12

5.057 47 60,806 76 38,635 12

104,631 57 9,429 94

23.972 41 11.077 00 34,997 68 9,750 37

45.982 74 63,76! 59 12,000 60 99.313 58 3.717 35

57,530 59 3S.414 10 47,612 08 9,517 22

14.037 94 I 7.280 38

635 15 13,597 21 ]

274 21 7.815 6-5 2,3^2 U0

3,149 39 1.626 99 6,764 63 2,226 U

22.539 06 375 78

4,007 95

$1,531,179 32

S 43,436 19

NEW EQUIPMENT

Locomotives .. Passenger cars Fre ight cars Other ro l l ing stock

T O T A L N E W E Q U I P M E N T . . .

S 1,014.503 00 47,972 00

2,461.939 50 64,665 00

$ 3,589.079 50

S 9S7.797 00 69,096 00

1,136.560 00 74,372 00

$ 2.267.S25 00

* 26,706 00

1,325,379 50

$1,321,254 50

117 63

27.841 55

10,553 74

723 13

1,215 85

3 21,124 00

9,707 00

16

E A R N I N G S A N D E X P E N S E S B Y M O N T H S .

E A R N I N G S . January. February. March. April. May.

F r o m freight 51,704,272 30 51.441,356 76 51,634,217 9t 51,-583.460 52 S1.725.S0S 11

F r o m passengers 399,125 56 347,550 25 400,625 50 430,142 27 470.242 64

F r o m mal ls and express 185,781 30 184.180 71 196,183 19 197,824 43 198,042 02

F r o m a l l other sources 41.212 13 32.932 IS 38.311 13 36,331 70 42.095 87

To t a l $2,330,391 29 52,006,019 90 52,271,337 73 52.247.75S 92 $2,436,188 64

E X P E N S E S .

Ma intenance of way and structures . . S 156.791 36 8 119,697 77 $ 130,424 33 $ 297,284 22 5 363,229 "9

Ma intenance of equipment 161,909 98 186,393 45 213.566 12 209,497 94 173,759 18

Conduct ing t ransportat ion 888,754 40 835.95.8 72 902,721 74 809,330 60 791,417 71

a5,639 02 27.3SS 71 33,817 42 28,352 40 29,204 15

60.000 00 60,000 00 60.000 00 60.000 (XI 60.000 00

To ta l operat ing expenses and taxes. S1.303.U94 76 51,229,4-38 65 51,340,529 61 51,404,465 16 SI ,422,610 83

70,000 00 200.000 00 180.000 00 150,000 00

Construct ion and betterments 209.206 04 4,907 45 3,838.78

Grand total expenses $1,512,300 SO 51,304,346 10 51.544,368 39 51,584.465 16 51,572,610 83

Net earnings from operat ion $ 818,090 49 5 701,673 SO S 726.969 34 $ 663.293 76 5 863,577 81

17

-

E A R N I N G S A N D E X P E N S E S B Y M O N T H S .

June. July. August. September. October. November. December. TOTAL.

$1,584,780 77

579,846 31

196.326 57

37,568 39

$1,430,269 17

669,285 40

192,611 99

43.268 36

$1,630,749 16

774.765 46

194.055 90

3S.132 71

31,576,911 55

950,125 60

205.842 00

39.003 81

$1,850,347 19

815.030 25

209,408 24

41.327 57

51,687.892 81

463.356 51

209,063 08

36,010 81

51,716,030 46

505,112 3S

211,169 25

42.686 55

319,616,096 71

6,805.208 13

2,3S2,4SS 68

468,881 24

$2,398,522 04 $2,335,434 92 $2,687,703 23 32,771,882 96 32.916,113 25 32.396.323 24 32.474.99S 64 529,272.674 76

$ 324,610 05

169,695 92

726.649 19

36,750 54

60,000 00

$ 284.740 25

167,161 86

724,934 44

29.772 07

60.000 00

$ 314,697 99

192,1% 37

758,734 06

27,645 94

60,000 00

$ 255.892 99

185,315 69

S13.521 50

38.045 79

60.000 00

$ 231,036 01

211,915 6S

861.38S IS

34.736 27

60.000 00

3 222.946 57

212.797 32

810.291 11

29.865 07

60.000 00

5 121.966 64

197,992 48

879,350 76

41,378 35

47,918 46

52,828,317 97

2,282,201 99

9,803,052 41

392,595 73

707,918 46

51,317,705 70

100,000 00

$1,266,608 62

150,000 00

37,164 04

$1,353,274 36

200,000 00

8S,239 28

$1,352,775 97

500.000 00

60,849 91

31,399,076 14

600,000 00

32.288 42

81,385.900 07

710,000 00

56,432 SI

51,288.606 69

739.079 50

104,136 27

316,014,086 56

3,599,079 50

597,063 (10

$1,417,705 70 $1,453,772 66 $1,641,513 64 31.913.625 88 32,031,364 56 52,102.332 SS 52.131.322 46 520,210.229 06

3 9S0.S10 34 $ 831,662 26 $1,046,189 59 $ 85S,257 08 $ 8S4.74S 69 $ 293,990 36 $ 343,176 18 3 9,062,445 70

18

M I L E S O F R O A D O P E R A T E D .

D e c e m b e r 3 1 , 1 9 0 1 .

M A I N L I N E .

Buffalo to Toledo, v i a Norwalk 295.92 Toledo to Chicago, v i a A d r i a n 244.12

540.04 B R A N C H E S O F T H E L . S. & M . S. R A I L W A Y .

Ashtabula to Ohio-Penn. State L i n e 30.72 Ashtabula to Ash tabu la Harbor 2.33 E l y r l a Junc t i on to M i l l bu r y Junc t i on , v i a Sandusky 73.24 Sandusky Junc t i on to Old P ier Depot 3.88 A i r L i n e J u n c t i o n to E lkhar t , v ia A i r L i n e 131.10 A i r L i n e Junc t i on to Ohio-Mich. State L ine 7.61 Monroe to Lenawee Junc t i on 29.45 Lenawee J u n c t i o n to Jackson 42.16

320.49

T O T A L , MAIN- L I N E A N D B R A N C H E S 860.53

P R O P R I E T A R Y R O A D S [OWNED W H O L L Y U Y T H I S COMPANY . ]

Centra l T runk Ra i l r oad— Ohio-Penn. State Line, to Jamestown 5.26

Detro i t , Monroe & Toledo Ra i l road— Oh io -Mich . State L i n e to Detroi t 54.76

Detro i t & Chicago Rai l road— Grosvenor to Fayette 25.56

No r the rn Centra l M i ch i gan Ra i l road— JonesviUe to No r th Lansing 61.36

Sturgis. Goshen & St. Lou is Ra i l road— Goshen to F ind ley 3b.l3

Ka lamazoo & Whi te Pigeon R a i l r o a d -Whi te P igeon to Kalamazoo 36.54

E l k h a r t & Western Ra i l road— E l k h a r t to M i s h a w a k a 11-72 ^ ^

R O A D S O P E R A T E D U N D E R L E A S E .

Jamestown k F r a n k l i n R a i l r o a d -Jamestown to Oi l C i ty 50.91

Mahon ing Coal Ra i l road— Andover to Youngstown 38.31 B r a u c h t o Kee l Ridge Coal Bank 0.73 Sharon Branch - 8.31

47.35 Det ro i t , H i l l sda le & Southwestern Ra i l road—

Y p s i l a n t i to Bankers : 64..6 F o r t Wayne & Jackson Rai l road—

Jackson to F o r t Wayne 97.S3 Ka lamazoo , A l l egan & Grand Rapids Ra i l road—

Ka lamazoo to Grand Rapids - 58.45 ^ ^

T O T A L M I L E S OF R O A D O P E R A T E D 1,411.16

S E C O N D T R A C K — B e t w e e n Buffalo and Toledo, v i a Sandusky . . 290.26 Between Toledo and Chicago, v i a A i r L ine 229.27 A i r L i n e Junc t i on to Wagon Works - 2.46 ^ ^

T H I R D T R A C K — B e t w e e n Er i e and Cleveland 9.63 S I D E T R A C K S -

T O T A L M I L E A G E OP T R A C K O P E R A T E D 2.780.50

N O T E — I n c l u d i n g o ld main l ine track, 7.84 miles, and second track, 7.S4 miles, between Si lver Creek and D u n k i r k , leased to N . Y . C. & St. L. R. R . Co. and used as the ir main track, the to ta l length of road owned or leased by this Compauy is 1.419.00 miles, and the total length of second track owned is 529.83 mi les.

19

E N G I N E E R ' S D E P A R T M E N T S T A T I S T I C S .

R E P A I R S A N D R E N E W A L S .

[Included i n Operating Expenses.]

New steel ra i l s laid 24,624 terns 195.SS miles

Cross-ties renewed 755,630, equal to 286.22 miles

Fence bui l t (board) 2.35 miles

Fence built (wire) 133.03 miles

Track ballasted wi th aravel, cinders and stone 185.65 miles

20

E Q U I P M E N T O W N E D .

L O C O M O T I V E S .

Passenger locomotives Fre ight l ocomot ives . . . Swi tch ing locomotives

Tota l

P A S S E N G E R T R A I N C A R S .

Passenger cars Smok ing cars Combinat ion cars Emig ran t curs Baggage cars Posta l cars D i n i n g and Buffet, cars

T o t a l

F R E I G H T C A R S .

Box cars Stock cars F la t cars Gondo la cars, drop bottom -Gondola cars, hopper bottom, steel. Coal and Ore cars, side dump

Tota l .

W O R K C A R S .

Officers' and Pay cars Caboose cars Ba l las t cars, steel Gravel dump cars Derr i ck cars Steam shovels P i l e dr ivers Suow plows Tool and other work cars..

Tota l .

T O T A L C A R S , A L L CLASSES .

F L O A T I N G E Q U I P M E N T .

1 Tug. 1 Dredge. 2 Scows Tota l .

1901 . 190O.

109 96 280 266 193 162

582 524

220 223 39 37 43 43 5 6

72 72 33 32 19 17

431 430

10.318 9.959 659 718

2.424 2.435 7.405 6.077

500 500 258 269

21.564 19.958

7 7 304 278 105 80 22 22 16 a

15 a

o 5

o 4

15 14 299 242

781 670

22.776 21.058

4 4

The cost of maintenance was, i n 1901. for locomotives. 81,894.056. for passenger equipment. $287,510. for freight equipment. 53,226.249. for work cars, 893.724.

Th i s expenditure inc ludes the cost of new equipment purchased and built, as follows:— 76 locomotives. 5 passenger t r a i n cars, 3,619 freight cars and 63 work cars.

21

L O C O M O T I V E D E P A R T M E N T S T A T I S T I C S -

1 9 0 1 . 1 9 0 0 .

M I L E S It U N B Y LOCOMOTIVES .

5.765,707 5,255,844

9,025.292 9,297.901

Switch ing service 5.655.043 5.332.S1S

405.193 413,064

T O T A L 20.851,2:35 20.299.627

Average miles r u n per locomotive in service 47,068 45,720

COST P E R M I L E R U N . Cents. Cents.

9.08 7.66

6.81 6.69

Round-house labor _ 1.33 1.15

7.00 6.67

.47 .44

.24 .21

.25 .20

T O T A L , CBNTS - - - - 25.18 23.02

19.72 20.79

F U E L C O N S U M E D .

1,057,514 976.571

Average price per ton 31.38 $1.38

$1,455,934 31.344.798

1.962 5.456

Average price per cord $2.20 $1.85

T O T A L COST. W O O D S4.317 310.094

T O T A L COST OF F U E L $1,460,251 $1,354,892

22

S T A T I S T I C S O F F R E I G H T T R A F F I C .

TONS C A R R I E D . 1 9 0 1 .

Revenue freight, eastbound. Revenue freight, westbound

To ta l revenue freight. Company's freight

12.9ft0.415 S.533.010

21,532,425 1,315.947

To ta l tons carr ied 22.S18.372

T O N S C A R R I E D O N E M I L E .

Revenue freight, eastbound 2.345,320,237 Revenue freight, westbound.

To ta l revenue freight. Compauy's freight

1.661.233,714

4,006,554.001 136.240.864

To ta l tons carr ied one mile 4,142.794,365

F R E I G H T E A R N I N G S : $19.616.096.71 1 = =

T R A I N A N D C A R M I L E A G E .

Mi les r u n by freight trains Mileage of loaded freight cars Mi leage of empty freight cars Mileage of cars, loaded and empty

7.552,961 226.421.094 78.323.857

305.244,951

A V E R A G E S .

Loaded cars per t ra in m i l e — '

Empty cars per t ra in mi le To ta l cars per t ra in mile Tons per t ra in mile—revenue freight Tons per t ra in mi le—Including company's freight H a u l per ton—revenue freight, miles H a u l per ton—company's freight, miles

Hau l per ton—all freight, miles Rate per ton per mile, cent

1 9 0 0 .

12,437 ,S99 7,410,576

19.S48.475 1.208.520

21.056.095

2,254,008.290

1.366,821.162

3.620,829,452 127,008,145

3.747.837,597

$18,317,426.68

7,963.835 211,039.448 35.614.058

296.653.506

30.0 26.5

10.4 10.8

40.4 87.3

530.5 454.7

548.5 470.6

186.1 182.4

103.5 105.1

181.3 178.0 0.4S9 0.505

23

S T A T I S T I C S O F P A S S E N G E R T R A F F I C .

1 9 0 1 . 1 9 0 0 .

P A S S E N G E R S C A R R I E D .

2.929,827 2,491.634 3,0*1.514 2.473.000 3,0*1.514 2.473.000

5.951,341 4.964.634 5.951,341 4.964.634

P A S S E N G E R S C A R R I E D O N E M I L E .

184,753,174 191 ..331,565

136.138.171 128,424,515

184,753,174 191 ..331,565

136.138.171 128,424,515

184,753,174 191 ..331,565

136.138.171 128,424,515

To ta l 376.0S4.739 264,562.686 376.0S4.739 264,562.686

P A S S E N G E R T R A I N E A R N I N G S .

36.Sa3.20S.13 2,500,157.36

S5.3S2.787.36 2.410.523.89 From malls, express and baggage

36.Sa3.20S.13 2,500,157.36

S5.3S2.787.36 2.410.523.89

36.Sa3.20S.13 2,500,157.36

S5.3S2.787.36 2.410.523.89

Tota l 39.305.365.49 37.799,311.25 39.305.365.49 37.799,311.25

T R A I N A N D CAR M I L E A G E .

5,514.1*67 3S.3S3.740

5.038.001

33,350.299 Mileage of a l l cars i n passenger tra ins ( inc luding mai l and express). 5,514.1*67

3S.3S3.740 5.038.001

33,350.299

A V E R A G E S .

63 3 1.14

LSI 68

53 $ 1.0S

2.03 53

63 3 1.14

LSI 68

53 $ 1.0S

2.03 53

Rate per passenger per mile—cents

63 3 1.14

LSI 68

53 $ 1.0S

2.03 53

63 3 1.14

LSI 68

53 $ 1.0S

2.03 53

Cars per t ra in mile 6.9 6.6

E A R N I N G S , E X P E N S E S , & c , - T E N Y E A R S , 1892-1901 .

Y e n . Miles Operated.

Gross Ri t i i inKs.

OFRRATJNO I Including

Amount

XPBNSBS TaxL-s.

Per Cent.

Net KftrHingji ironi

Operation.

Ti'.iwii •' from

Investmenls. Income. Fixed

Charges. Net

Income. Dividend

per Share,

1892 1445 i 22.415.3S-J 15^03.190 70.50 ) 6.612.192 J 488,243 * 7,096.484 S 3.858.606 S 3.236.828 8 6.00 1893 1440 17,123.913 72.29 6,562,019 459.1S2 7.021,151 3.S24.507 3.196,644 6.00 1894 144G 19.557.870 13,186,068 67.42 6.371,802 409.356 6,781.158 3,812.219 2.968,939 6.00 1 8 9 5 1440 21.016.035 14,568,220 69.32 6,447.815 412,979 6.860,794 3,832.479 S.028.315 6.00 1896 1440 20,193.958 13.726.155 67.97 6,467,808 351,Si 1 6,822,614 3.SC0.214 3,1(22.400 6.00 1897 1437 20.297.722 13,542,491 66.72 6.755,231 895.621 7.150.852 3.4(15.592 3.745,260 6.00 1898 1410 20.753.6S3 13.928.020 67-11 6.825,668 3W.K10 7.172.473 S. 149,248 4,023,225 7.00 1 8 9 9 HIS 23.613.946 15.832.145 67.05 7.781.801 3Tli,l)52 8,157.853 S.100.591 5.057.262 T.00 1 9 0 0 1411 26.460.514 17.307,795 65.40 9.158,719 749.6211 9,908.339 3.249,909 6.658,430 7.00 1 9 0 1 14U 29.272.675 20.210.229 69.04 9,062,446 1,329.290 10,391,730 3.236,611 7.155.125 7.00

25

F R E I G H T A N D P A S S E N G E R S T A T I S T I C S . T E N Y E A R S , 1 8 9 2 - 1 9 0 1 .

F R E I G H T .

Year.

Tons Carr ied. Revenue Freight- Tons

Revenue. Receipts

1 per ton Cost

• per ton Prof i t

j per ton

East. West. Total . one mile. j mi le . mile. mile.

1 8 9 2 7.447,949

.

6.195.79S 13.643.747 2,435,079,712 S14.S51.475 Cent.

.599 Cent

.436 Cent.

.163

1 8 9 3 7.427.929 5.714.915 13.142.S44 2,427,692.020 14,490,259 .587 .461 .126

1 8 9 4 7.273.634 4.868,622 12.142.256 2.196.244.563 12,844,275 .572 .406 .166

1 8 9 5 8,035,485 6,297.156 14.3S2.641 2.475,757,176 14.157,425 .561 .410 .151

1 8 9 6 7,841,548 5,820.871 13.662,419 2,377.034,118 13,289,042 -549 .387 .162

1 8 9 7 8,273,107 5.764,177 14.037,284 2,473.436,580 13,734.282 .545 .356 -189

1 8 9 8 *9.416,55S 6.135.41S 15,551,976 2.771.97S.098 14,022.756 .502 .329 .173

1 8 9 9 11,051,526 7,036.168 18.087,694 3.414.880.3S1 16,115.690 -471 .320 .151

1 9 0 0 12,437.899 7.410,576 19.84S.475 3.620.S29.452 18,317.427 .505 .329 .176

1901 12.999,415 S.533.010 21.532.425 4.006.554,001 19,616.097 .489 .343 .146

P A S S E N G E R .

Year. Passengers Carried.

Passengers Revenue.

Receipts per

Cost per passenger

mile.

Prof i t per passenger

mile.

Year.

East . West. To ta l . one mile.

Revenue. passenger

mile.

Cost per passenger

mile.

Prof i t per passenger

mile.

1 8 9 2 2,921.235 2.925,517 5,846,755 247.S50.9S2 S 5.391.3S5 Cents. 2.175

Cent. 1.572

Cent. .603

1 8 9 3 2.669,405 2,641,6S1 5,311,0S6 334.207.S12 6.993,060 2.092 1.S7S .714 1 8 9 4 2.262.01S 2.280,906 4,542,924 19S.292.265 4,420,642 . 2.229 1.409 .820 1 8 9 5 2,324,428 2.302,747 4,627,175 210.966.572 4,512,372 2.139 1.368 .771

1 8 9 6 2.265.451 2,254,436 4.519.8S7 211,120,596 4,520.045 2.141 1.399 .742 1 8 9 7 2,142,845 2,154,900 4,297,745 210.4S7.402 4,247.717 2.018 1.407 .611 1 8 9 8 2,140,455 2,152.118 4.292,573 204,373.574 4.2S1.422 2.095 1.432 .663 1 8 9 9 2.321,332 2.341.123 4,662.455 233.232.S54 4.S49.129 2.079 1.352 .727 1 9 0 0 .2.491.634 2.473,000 4,964.634 264,562.686 5.3S2.787 2.035 1.341 .694 1901 2,929,827 3,021,514 5.951,341 376.084.739 6,805,203 1.S09 1.209 .600

26

M I L E A G E S T A T I S T I C S , T E N Y E A R S , 1 8 9 2 - 1 9 0 1 .

Y E A R . Mi les o l

road operated.

Earn ings per mile of road.

Expenses per mile o f road .

Including taxes.

Net earnings per mile o l road.

Fre ight t ra l ii

mileage.

Average tons per

t ra in mile.

Fre ight earnings per t ra in

mile.

Fre ight expenses per t ra in

mile.

Passenger t ra in

mileage.

A verage number of passengers per t ra in

mile.

Passenger earnings per t ra in

mile.

Passenger expenses per t ra in

mi le .

1 8 9 2 1,445.2 515,510 810,935 $4,575 8,831.394 275.7 S1.6S.16 81.20.24 5,000,351 49.6 31.45.93 $1.02.51

1 8 9 3 1,439.9 16,449 11.392 4.557 8,805,512 275.7 1.64.56 1.27.09 5.323,330 62.8 1.67.40 1.10.38

1 8 9 4 1,439.9 13,583 9,158 4,425 8,213.912 267.2 1.56.28 1.08.61 4.588.880 43.2 1.39.46 0.83.17

1 8 9 6 1,439-9 14.595 10.117 4.478 7,773.337 318.5 1.82.13 1.30.74 4.510.187 46.8 1.44.87 0.92.67

1 8 9 6 1,439.7 14.027 9.535 4.492 7.391.380 321.6 1.79.79 1.24.55 4.655,339 45.4 1.41-40 0.92.39

1 8 9 7 1,436-7 14.128 9.426 4.702 7.703.105 321.1 1.78.30 1.16.45 4.616,220 45.6 1.38.07 0.96.28

1 8 9 8 1,410.3 14,716 9.876 4,840 7.866.833 352.4 1.78.25 1.17.73 4,748,428 43.0 1.34.73 0.92.11 .

1 8 9 9 1,413.4 16.707 11.202 5.505 7.991,932 427.3 2.01.65 1.36.78 4.S10.9S7 48.0 1.48.33 0.96.43

1 9 0 0 1,411.3 18.753 12,264 6.489 7.963.835 454.7 2.4*0.01 1.49.55 5.O3S.O01 53.0 1.54.81 1.02.06

1 9 0 1 1.411.1 20.744 14,322 6.422 7.552,961 530.5 2.59.71 1.81.74 5.514.067 68.2 1.68.76 1.12.76

27

F R E I G H T T R A F F I C , C L A S S I F I E D .

1901. 1900. I N C R E A S E , D E C R E A S E , C O M M O D I T I E S . T O N S . T O N S . T O N S . T O N S .

P R O D U C T S O F A G R I C U L T U R E , 1.1513,623 1.660,296 46,673

370.014 324.143 45,871 Other m i l l products 263,588 277,376 23,843

204.84ft 149,459 55.3-S6 12.919 13,766 847

Cotton _ 48.273 61.S69 13,596 Fru i t s and vegetables 175.295 227.711 52.416

200.209 192,459 7,750

P R O D U C T S OF A N I M A L S , 525.782 506.258 19.524 172.903 218.069 45,166 91.957 65.508 26.449 58,477 50,922 7,566 12.300 9.360 2.94H 55.136 43,475 11,661 84.551 95,937 11,386

P R O D U C T S O F M I N E S , 1.216,754 794.428 422,326 4.436.600 4.690.439 253.S39

Coke 463.137 444.604 18,533 Ores 2.837.176 2.564,344 272.S32 Stone, sand and l i ke articles 1.7564190 1,609,2*3 147.747 Salt 67,910 65,928 1,982

• Other articles 113,225 98,179 20,046

PRODUCTS OF F O R E S T . 559.459 495.082 64.377

Logs and other articles 223.636 225,945 2.309

M A N U F A C T U R E S . Petroleum and other o i l s — 410.073 a50,923 68,1.50 Sugar 38,219 31.620 6,699

402.015 299,303 102,712 Iron and steel rai ls 182.149 111,650 70,499 Other castings and machinery 074,141 525,591 148,551 B a r and sheet metal 789,713 651,5.53 138,160 L ime, br ick and cement 559,580 424.575 135,005

66,998 73,620 6,622 Wagons, carriages, tools, etc 44,532 35,565 S.967 Wines, l iquors and beers 101,918 109.65S 7.740

01.420 49,966 11,454 Other art ic les 1.0*8,956 851,980 196.976

M E R C H A N D I S E 921.030 772,767 148,263

M I S C E L L A N E O U S , not included above. . 667.976 679,904 11,928

T O T A L 21,532.425 19.84S.475 1,683.950