1913 THE NEW YORK CENTRAL AND HUDSON RIVER RAILROAD … · General Claims Attorney FRANK V....

1913

T H E N E W Y O R K C E N T R A L A N D

H U D S O N R I V E R R A I L R O A D C O M P A N Y

R E P O R T O F T H E B O A R D O F D I R E C T O R S

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

F O R T H E F I S C A L Y E A R E N D E D

D E C E M B E R 31

1913

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

N E W Y O R K

O R G A N I Z A T I O N OF T H E N E W Y O R K C E N T R A L A N D H U D S O N R I V E R R A I L R O A D C O M P A N Y

D E C E M B E R 31, 1913

D I R E C T O R S

Named in agreement of consolidation acted on at a special meeting of stockholders held at Albany. New York, April 16, 1913

C H A U N C E Y M . D E P E W , Chairman W I L L I A M K . V A N D E R B I L T W I L L I A M H . N E W M A N F R E D E R I C K W. V A N D E R B I L T G E O R G E F. B A K E R W I L L I A M C. B R O W N ' G E O R G E S. BOWDOIN J. P I E R P O N T M O R G A N W I L L I A M R O C K E F E L L E R J A M E S S T I L L M A N M A R V I N H U G H I T T W I L L I A M K . V A N D E R B I L T , J R LEWIS CASS L E D Y A R D

•Owing to the death of George S. Iiowi.loin n vacancy cxtHlml in Uie hoard as of December 31, 1013

• F I N A N C E C O M M I T T E E

W I L L I A M K . V A N D B R B I L T W I L L I A M R O C K E F E L L E R J . P IERPONT M O R G A N G E O R G E F . B A K E R

L E W I S CASS L E D Y A R D

OFFICERS

President W I L L I A M C. B R O W N New York Senior Vice President A L F R E D H . SMITH • New York Vice President W I L L I A M K . V A N D B R B I L T , J R New York Vice President J O H N C A R S T E N S E N New York Vice President IRA A. P L A C E • New York Vice President C H A R L E S F. D A L Y New York Vice President A B R A H A M T. H A R D I N New York Vice President HOWARD M . BISCOE Boston Secretary- D W I G H T W . P A R D E E New York Treasurer EDWARD L . ROSSITER New York General Auditor RICHARD A . W H I T E New York Auditor C H A R L E S H . C H A M B E R S New York General Counsel A L B E R T H . H A R R I S New York General Solicitor C L Y D E B R O W N New York General Attorney A L E X A N D E R S. L Y M A N New York General Claims Attorney F R A N K V. W'HITING New York General Land and Tax Agent OSCAR G. G E T Z E N - D A N N E R New York General Manager P A T R I C K E . C R O W L E Y New York Chief Engineer Chief Engineer of Electric Traction

G E O R G E W . K I T T R E D G E New York Chief Engineer Chief Engineer of Electric Traction E D W I N B . K A T T E New York Engineer, Maintenance of WTay G E O R G E W . V A U G H A N New York Superintendent Motive Power J O H N H O W A R D New York Superintendent Rolling Stock F R E D E R I C K W . B R A Z I E R New York Chief Mechanical Engineer ROSCOE B . K E N D I G New York Manager Marine Department W A L T E R B . POLLOCK New York General Purchasing Agent S Y D N E Y B . W I G H T New York Purchasing Agent W I L L I A M C. B O W E R New York Freight Traffic Manager FRANCIS L A B A U New York General Freight Agent I E A H . H U B B E L New York Coal Traffic Manager F R A N K E . H E R R I M A N New York General Passenger Agent L O R E N F. VOSBURGH New York

R E P O R T

To the Stockholders of

T H E N E W Y O R K C E N T R A L A N D H U D S O N R I V E R R A I L R O A D C O M P A N Y :

The following report is submitted by the Board of Directors named in the agreement of consolidation approved at a special meeting of the stockholders, held in the city of Albany on April 16, 1913, and covers the entire year ended December 31, 1913, although the operations of the property were conducted under two distinct corporations, each bearing the name of The New York Central and Hudson River Railroad Company.

The former of these two corporations merged with itself, on March 7, 1913, the following named companies, whose properties had been operated under various leases and agreements and whose entire capital stock was owned by The New York Central and Hudson River Railroad Company:

Buffalo Erie Basin Railroad Company Carthage & Adirondack Railway Company The Gouverncur & Oswegatchie Railroad Company The Mohawk & Malone Railway Company New York & Ottawa Railway Company The New York & Putnam Railroad Company (which on the same day

merged with itself The Mahopac Falls Railroad Company) The New York Central Niagara River Railroad Company The Spuytcn Duyvil & Port Morris Railroad Company Tivoli Hollow Railroad Company Tonawanda Island Bridge Company

The second corporation was formed by the consolidation, under an agreement dated March 5, 1913, becoming effective April 16, 1913, of The New York Central and Hudson River Railroad Company, Rome Watertown & Ogdensburg Railroad Company, The Utiea & Black River Railroad Company, Oswego & Rome Railroad Company, The Niagara Falls Branch Railroad Company, Carthage Watertown & Sackets Harbor Railroad Company (the property of the latter four companies having been operated under the lease of the Rome Watertown & Ogdensburg Railroad) and the Little Falls & Dolge-ville Railroad Company which had been operated independently. The outstanding capital stock of these companies was owned by The New York Central and Hudson River Railroad Company, with the exception of a slight proportion on which a convertible value of $2,851,766 was set.

By these corporate changes, property, the cost of which to the original companies was $62,607,792.29, has been added to that formerly owned by the company at a cost of $54,307,693.55, which covers securities purchased, advances for construction purposes to

4

Annual Report

the constituent companies during the years they were under lease, funded obligations of the several companies outstanding at the time of the merger or consolidation and the convertible value of such capital stock as was not owned by the company, as shown in the following statement:

Capital stock purchased at a cost of $15,433,848 30 Bonds purchased at a cost of 1,456,000 00 Cash advanced for construction purposes 7,955,900 41 Funded debt obligations assumed 27,011.000 00 Outstanding stocks at convertible value 2,851,766 00

Less Assets and liabilities assumed or cancelled and capital stocks acquired by The New York ('entral and Hudson River Railroad Company without cost

$54,708,514 71

400,821 16 $54,307,693 55

The following statement of the railroad property acquired by the merger of March 7, 1913, and by consolidation on April 16, 1913, shows the miles of road, the cost to each original company and the cost to The New York Central and Hudson River Railroad Company:

M i l e s

Buffalo Erie Basin Railroad "25 Carthage & Adirondack Railway 45'86 Gouverneur & Oswegatchie Railroad 13'07 Mohawk & Malone Railway 182-18 New York & Ottawa Railway 6927 New York & Putnam Railroad 5683

Mahopac Falls Railroad 2'05 New York Central Niagara River Railroad 2"81 Spuvten Duvvil & Port. Morris Railroad 5'31 Tivoli Hollow Railroad 1-24 Tonawanda Island Bridge

Total for merged roads

Rome Watertown & Ogdensburg Railroad 41488 Utica & Black River Railroad 150'16 Oswego & Rome Railroad 26'62 Carthage Watertown & Jackets Harbor Railroad 28'96 Niagara Falls Branch Railroad 8'58 Little Falls & Dolgeville Railroad 1008

Total for consolidated roads Grand total

C o s t of road o r i g i n a l compi

$13,503 1,610,058

676,321 11,541,632 2,794,318

12,467,327 100,112 28,100

3,961,242 35,991 56,965

19 59 52 36 35 82 1 50 / 00 98 98 13

C o s t to the N Y C & H K K R C o

$100 00 1,168,918 01

326,331 52 7,041,732 36 1,545,318 35 5,929,427 82

28,100 00 5,232,242 98

15,950 40 7,005 13

378-87 833.285,574 42 .821.295.192 57

$21,084,683 11 5,037,377 91

998,875 30 804,131 01 257,719 98 539,430 56

$26,615,382 98 4,604,555 51

786,785 30 597,615 09 25,474 38

382,687 72 639-28

1018-15 829,322,217 87 $33,012,500 98 $62,607,792 29 $54,307,693 55

The capital stock of the various companies and the mortgage bonds of the New York & Ottawa Railway Company were cancelled by the agreements of merger or consolidation, so that the capital stock of The New York Central and Hudson River Railroad Company

5

The New York Central and Hudson River Railroad Company

was not increased except by the • convertible value of the stocks of the consolidating companies in the hands of the public at the date of the consolidation, nor was the surplus of the new company affected by the merger or consolidation.

It should be borne in mind that the interest on all bonds assumed in connection with the merger and consolidation was formerly paid by The New York Central and Hudson River Railroad Company as rental of the properties covered by the various mortgages, with the exception of $300,000 of bonds issued by the Carthage Watertown & Sackets Harbor Railroad Company on which interest was paid out of that company's income.

The mileage embraced in the operation of the road is tabulated as follows: M i l e s

1,827-66 •18

1,580-86 71-28

273-14

3,753-12

Main line and branches owned Proprietary line

*Leased lines Lines operated under contract Trackage rights

Total road operated

These figures show a decrease of 37'53 miles as compared with the mileage reported December 31, 1912, which is accounted for as follows:

DECREASES DURING THE YEAR . Miles

By elimination, from the report, of the mileage of the Ottawa & New York Railway, which is entirely in the Dominion of Canada, including the mileage operated by it under trackage rights 58*84

Mileage formerly reported as main line now classified as side track: Buffalo Erie Basin Railroad "25 New York Central Niagara River Railroad 2"81 306

B y remeasurement and change of alinement at various places '11 62'01 INCREASES DURING THE YEAR

Mileage owned, classified as main line, formerly reported as side track: • • Hoffmans Connection Branch 2'50 Schenectady Detour Branch 4'65 7"15

Mileage added by consolidation: Little Falls & Dolgeville Railroad, now named the

Dolgeville Branch 10-08 Dolgeville & Salisbury Railway, formerly operated under contract by the Little Falls & Dolgeville Railroad Company 3'89 13'97

B y extension: Port Morris Branch, New York & Harlem Railroad '02 Boardman Branch, Beech Creek Extension Railroad 2'09 2 11

B y remeasurement or changes of connection at various places "44 By additional trackage rights over various railroads -81 24"48

Making a net decrease of 37*53

Annual Report

The capital stock outstanding on December 31, 1912, was 8222,729,300 00 This has been increased by the amount of the convertible value of

capital stock of consolidating companies outstanding in the hands of the public on April 16, 1913 2,851,766 00

making the total amount outstanding on December 31, 1913 8225,581,066 00

The former authority for the stock of this company, 8250,000,000, was cancelled by the agreement of consolidation and the amount of stock authorized to be issued at the present time is $225,581,100, of which all but the sum of 834 is now outstanding.

Mortgage, bonded and secured debt outstanding on December 31, 1912, was $346,028,225 14 This has been added to as follows: Gold debentures of 1912, bearing interest at the rate of four and one-half per cent per annum $32,000 00 New York Central and Hudson River Railroad Company bond, protected by mortgage executed by the Geneva Corning & Southern Railroad Company, bearing interest at the rate of four per cent per annum 600,000 00 This company's pro rata liability in connection with equipment trust certificates of 1913, bearing interest at the rate of four and one-half per cent per annum 6,028,012 95 Mortgage on real estate in the city of New York, bearing interest at the rate of three and one-half per cent per annum 1,000,000 00 The assumption, as funded obligations of this company, of the outstanding bonds of merged and consolidating companies

and has been decreased as follows:

New York Central-Michigan Central collateral bond scrip cancelled Oswego & Rome Railroad Company second mortgage bonds cancelled Payments of installments falling due during the year on this company's pro rata liability in connection with the certificates issued under equipment trust agreements as follows:

Trust of 1907, installment due March, 1913 Trust of 1910, installment due January, 1913 Trust of 1912, installment due January, 1913 Boston & Albany trust of 1912, installment due October, 1913

27,011,000 00 34,671,012 95

$380,699,238 09

$445 00

2,000 00

793,660 12 433,964 42 477,116 10

348,000 00 2,055,185 64

Outstanding, as shown on the balance sheet of December 31, 1913 $378,644,052 45

7


SUMMARY OF FINANCIAL OPERATIONS AFFECTING INCOME

O P E R A T I N G I N C O M E H A I L O P E R A T I O N S 3

Revenues Expenses

N E T R E V E N U E F R O M R A I L O P E R A T I O N S

Percentage of expenses to revenue* A U X I L I A R Y O P E R A T I O N S

Revenues Expenses

N E T R E V E N U E F R O M A U X I L I A R Y O P E R A T I O N S

N E T R E V E N U E F R O M A L L O P E R A T I O N S

T A X E S A C C R U E D

O P E R A T I N G I N C O M E

O T H E R I N C O M E J o i n t faci l i t ies rents M i s c e l l a n e o u s rents N e t p rof i t f r o m inves tmen t s i n p h y s i c a l p rope r ty D i v i d e n d s o n s tocks o w n e d or con t ro l l ed In teres t o n funded debt o w n e d Interest on o ther securi t ies , loans a n d accounts C o n t r i b u t i o n s f rom o ther companies Misce l l aneous income

T O T A L O T H E R I N C O M E

G R O S S C O R P O R A T E I N C O M E

1913 '53 12 miles operated SI 111,904,304 05

S7,932,040 97

1 9 1 2 ' 3,731-81 miles operated $109,697,5SS 34

81,129,838 65

I N C R E A S E 21-31 milct

S7,206,715 71 6,802,202 32

D E C R E A S E

828,972,263 OS 828,567,749 69 $404,513 39

(75 '22%) (73-96%) (1-26%)

$5,780,345 32 5,725,537 41

$5,579,0S3 89 5,255,057 55

$201,261 43 470,479 86

$54,807 91 $324,026 34 82119,218 43

829,(127,070 99 0,350,545 91

828,891,776 03 5,893,995 91

8135,294 96 462,550 0(1

822,1170.525 08 . 822.997,780 12 $327,255 04

82,283,363 39 702,493 98 117,027 37

12,168,530 78 450,181 03 652,588 69 260,359 34

33,677 84

81,929,402 00 406,187 82

62,073 62 12,791,889 90

508,829 12 1,785,755 12

395,944 16

S353.900 79 296,306 16

54,953 75

260,359 34

1623,353 12 58,648 09

1,133,166 43

362,266 32

816.608,228 42 817,880,1 42 •• 1 51,211,913 92

S3! i . : i3v7. :; : 840,877,922 40 81.539,168 96

D E D U C T I O N S F R O M C R O S S C O R P O R A T E I N C O M E R e n t a l s Of leased l ines $8,51.8,856 66 $10,055,192 32 $1,536,335 66 H i r e of equ ipmen t 1,026,558 22 1,969,039 74 942,481 52 J o i n t fac i l i t ies rents 567,853 29 619,975 18 52,121 89 M i s c e l l a n e o u s rents 455,335 23 838,710 77 ' 383,375 54 M i s c e l l a n e o u s t ax accruals 38,120 61 15,961 73 . $22,158 88 S e p a r a t e l y opera ted propert ies—loss 39,281 33 346,612 7 2 ' ' 307,331 39 In teres t d n b o n d s 10,003,317 10 9,601,603 05 941,714 05 In teres t on three year go ld notes of 1911 a n d 1912 2,250,000 00 1,903,125 00 346,875 00 In teres t o n e q u i p m e n t t rust certificates 1,347,411 57 1,031,538 64 315,872 93 O t h e r in teres t 1,170,832 75 337,420 34 833,400 41 Trans fe r of i n c o m e to other companies 07,543 75 99,800 80 32,257 05 S t I , & A R a i l w a y : ren ta l of leased l ine 10,000 00 10,000 00 N Y & O t t a w a R a i l w a y : interest o n bonds 58,240 0!) 58,240 00 O t h e r deduc t ions 84 58 48,003 13 47,918 55

T O T A L D E O U C T I O N S F R O M C R O S S C O R P O R A T E I N C O M E

1\ K T C O R P O R A T E I N C O M E

D I V I D E N D S , four each y e a r at l ive per cent per a n n u m

S U R P L U S F O R T H E Y E A R C A R R I E D T O P R O F I T A N D L O S S $2,000,537 16 $2,746,228 04

8211.1)115,195 09 $26,995,229 42 St ,1(34 33

S13,243,558 41 11,213,021 25

$13,882,693 04 11,136,465 00 8106.556 25

S639.134 63

B a l a n c e to c red i t of profit, a n d loss (free surplus) as shown i n repor t of D e c e m b e r 31 , 1912 $13,185,413 04 A m e n d e d b y e l i m i n a t i n g surplus of the S t Lawrence & A d i r o n d a c k R a i l w a y C o m p a n y 552,951 91

a n d deficit of the O t t a w a & N e w Y o r k R a i l w a y C o m p a n y 95,535 53 42,583 62

$13,227,996 66 A d d i t i o n s for y e a r :

S u r p l u s f r o m opera t ions $2,000,537 16 N e w Y o r k N e w H a v e n & H a r t f o r d R a i l r o a d C o m p a n y for its p ropor t i on of spec ia l

franchise assessment w i t h i n G r a n d C e n t r a l T e r m i n a l area p r i o r to 1913 84,056 35 2,0S4,593 51

§ 1 5 . 3 1 2 , 5 9 0 17 D e d u c t i o n s for y e a r :

D i s c o u n t , commiss ions a n d expenses account of N Y C L i n e s e q u i p m e n t t rus t of 1913 D i s c o u n t , commiss ions a n d expenses o n va r ious short, t e r m loan3 D i s c o u n t a n d commiss ions account debentures of 1912 C h a r g i n g off amoun t s against H u d s o n R i v e r B r i d g e C o m p a n y for expendi tures p r i o r

to 1886, n o t col lec t ib le C h a r g i n g off v a l u e of abandoned faci l i t ies C a s h advances to C lea r f i e ld B i t u m i n o u s C o a l C o r p o r a t i o n for interest , s i n k i n g fund

a n d t a x p a y m e n t s C h a r g i n g off va r i ous accounts a n d reversa l of accrua ls due to conso l ida t ion (net) R e d u c t i o n of b o o k v a l u e of c a p i t a l s tock i n the M e r c h a n t s D e s p a t c h T r a n s p o r t a t i o n

C o m p a n y t o p a r v a l u e

V a r i o u s ad jus tments a n d cancel la t ions (net) 8,549 02 2,346,796 (

B A L A N C E T O C R E D I T O F P R O F I T A N D L O S S ( F R E E S U R P L U S ) D E C E M B E R 31 , 1913 512,965,794 15

* Reviaed: Ottawa 4 New York Railway t

•209,111 33 9()5,lic,tl 47

2,615 00

854,423 36 191,140 58

114,921 26 43,625 00

17,311 00 8,549 02

Annual Report

In view of the merger and consolidation, results of the operation of the Ottawa & New York Railway are not, after January 1, 1913, included with the operations of this company and in the following analyses and the tables upon which they are based, the report of December 31, 1912, has been revised for purpose of comparison by eliminating all items arising from the operation of the Ottawa & New York Railway.

For the year covered by this report the revenue from transportation was $115,218,498.91, an increase of $6,960,749.27; revenue from operations other than transportation was $1,685,805.14, an increase of $245,966.44; revenue from auxiliary operations (connected with, but in addition to transportation by rail) was $5,780,345.32, an increase of $201,261.43.

Rail operating revenues showed large increases through the earlier months of the year, the increase up to October 31, being $7,784,039.77, but November and December revenues declined $577,342.06, reducing the increase in rail operating revenues to $7,206,715.71 for the entire year.

The total gross revenue from all operations was $122,684,649.37, an increase of $7,407,977.14.

Freight revenue was $68,986,695.35, an increase of $3,996,721.30. The revenue freight carried amounted to 55,100,277 tons, an increase of 3,265,223 tons over last year.

A l l five groups of classified commodities show increased tonnage carried during the year, the largest increase being in products of mines, in which group bituminous coal gave an increase of 2,353,416 tons (equal to 19 per cent) while anthracite coal and coke show 370,408 tons less than in the preceding year. Products of agriculture show an increase of 411,099 tons, chief of which is grain with an increase of 327,690 tons. Products of animals show an added tonnage of 126,245, generally distributed throughout the classified list of this class of freight. Products of forests increased 196,514 tons. Manufactured articles increased 250,047 tons, the only decreases being in bar and sheet metal, iron and steel rails, pig and bloom iron and in other articles in this group not separately classified. Commodities not classifiable increased 115,677 tons.

The total revenue of all passenger-train transportation was $44,470,102.28, an increase of $2,989,205.77 over the year 1912. Of this amount the revenue from express traffic was $4,708,835.70, a decrease of $23,892.94, due to shrinkage in the volume of business. Mai l revenue was $3,017,827.93, an increase of $486,683.31 which accrued in the last six months of the year, due to the adjustment of mail pay, based on the regular quadrennial weighing of the mail carried which took place in the spring of 1913. This increase is due to the normal growth of the mail matter carried since the last weighing of the mail four years ago and in a small degree to the additional parcel post matter carried. The remuneration to the railroad company for parcel post matter carried was based on the limit of eleven pounds, no provision having been made as yet by Congress for compensation for the additional weights of mail carried consequent on the enlargement of the parcel post weight limit on August 15, 1913. The situation in reference to railway mail pay is still unsatisfactory and is unsettled, pending the report of the joint Congressional Committee now sitting and the taking of definite action by Congress on the findings of that committee.

9

The New York Central and Hudson Ewer Railroad Company

The expenses of rail operations amounted to $87,932,040.97, an increase of $6,802,202.32. The ratio of rail operating expenses to the total revenues for the year was 75'22 per cent, an increase of 126 per cent over the ratio for the year 1912. Of the total increase of $6,802,202.32 the larger part was occasioned by increased expenditures in the upkeep of the road and equipment, the total increases being as follows: for maintenance of way, structures and equipment, $4,458,058.91, for expenses of securing and transporting traffic $2,176,222.63 and for general administration $167,920.78.

The operating expenses, by groups, were: Maintenance of way and structures $16,941,987 46 an increase of $2,292,922 18 Maintenance of equipment 22,584,246 05 an increase of 2,165,136 73 Traffic expenses 2,284,267 06 a decrease of 25,349 22 Transportation expenses 43,165,465 48 an increase of 2,201,571 85 General expenses 2,956,074 92 an increase of 167,920 78 Auxiliary operations 5,725,537 41 an increase of 470,479 86

In the maintenance of way and structures, the following are the items which constitute the principal increases:

Ties, $602,365.70, due to the average price of ties having advanced about eight cents per tie, and due to a somewhat larger number laid during the year 1913, to compensate for the smaller number in 1912, owing to the slow delivery during that year.

Rails, $92,293.45, due to a somewhat larger renewal than formerly having been made, in order to equip certain portions of the property for the use of more modern and economical motive power. The cost of increased weight of rail is charged to property account.

Other track material, $288,787.01, due to the installation of heavy tie-plates to prolong the life of ties, and to other miscellaneous track improvements.

Roadway and track, $647,475.41, due to additional labor employed in placing ties and laying rail, together with a necessary increase in wages averaging 6 per cent, or about $300,000, which began to accrue in March and April , 1913.

Bridges, trestles and culverts, $408,338.69, due to the renewal and strengthening of bridges on certain portions of the road, notably that acquired from the Rome Watcrtown and Ogdensburg Railroad and the lines leased from the Boston & Albany and West Shore railroad companies, and upon certain branches, to permit the operation of heavier and more economical motive power and equipment.

Buildings, fixtures and grounds, $492,989.17, due largely to the replacement of the passenger stations at Rochester, Utica, Pittsfield, Worcester and at other minor stations.

In the maintenance of equipment, repairs of steam locomotives decreased S300,161.93, due to various extensive repairs having been made in 1912 in conjunction with the installation of modern fuel economizing devices, which made it unnecessary to perform equally heavy repairs during the year 1913.

Freight-train car repairs increased $1,761,101.13, due principally to installing safety appliance devices to 14,400 cars, as required by the Interstate Commerce Commission regulations, installing steel underframes to 4,088 cars, and, in connection with the installation of steel underframes, thoroughly renovating many of the cars by applying steel roofs, steel ends, improved trucks and draft-gear rigging. In addition, 15,000

10

Annual Report

other freight cars were subjected to medium and heavy repairs necessitated by the heavy business which was handled during the first nine months of the year.

It was also necessary during the year to increase the wage scale about 6 per cent in the mechanical department, involving an annual increase of about $425,000, of which about $250,000 accrued during the year and is reflected in the item of car repairs and other items in equipment repairs as a whole.

In transportation expenses, the following is an explanation of the principal items: In New York and New Jersey, so-called Full Crew laws were enacted, introducing

an additional annual expense of approximately $560,000, on account of which there accrued in the expenditures of 1913 about $200,000.

As a result of arbitration with the firemen and conductors and trainmen, which will be referred to later in this report, an additional annual expense of about $850,000 was involved, of which there accrued during 1913 approximately $300,000.

It was further necessary to increase the wages of station forces about 6 per cent and also add to the number of men employed to handle the additional volume of business.

Superintendence increased $70,699.93 due to the necessity of having to employ additional officers and clerical forces to transact the transportation business of the company, including the preparation of operating reports and statistics in connection with arbitrations and in compliance with the regulations of the various commissions and public authorities having jurisdiction; together with some increase in wages to clerical forces and additional office rent for the enlarged number of employees.

Although the quantity of fuel consumed in transportation service during the year was 70,000 tons less than in 1912 because of the use of fuel economizing devices, there is an increase of $183,000 in the charge for fuel for locomotives, due entirely to an increase in cost averaging six cents per ton.

Continued efficiency in the operation of equipment is indicated by the traffic statistics. Freight locomotive mileage increased less than V/i per cent while freight car mileage increased over 8 per cent and ton mileage increased slightly more than 10J^ per cent; the average load in freight trains increased 47J/£ tons, or over 9 per cent, and the number of freight cars to a train was 7 per cent more than in the previous year.

In general expenses appear, for the first time, charges in connection with the valuation of railroad property amounting during the year to $15,906.69.

In the operation of the pension department 140 employees were retired and placed upon the pension roll. Of these retirements 75 were authorized because of the attainment of seventy years of age and 65 because of total and permanent physical disability. Ninety-four pensioners died during 1913 and at the close of the year 746 retired employees were carried upon the pension rolls. The average monthly pension allowance to these men was $24.35 and the total amount paid in pension allowances during the year was $220,682.31, an increase over the previous year of $19,146.00.

Auxiliary operations show a decrease in net revenue of $269,218.43, the largest decreases being in harbor terminal transfers, $304,634.73, and freight storage plants, $31,204.01; and the main increases in dining and special-car service with a reduced deficit of $40,808.88; and grain elevators with an increased net revenue of $38,330.94.

11


The amount of taxes on railroad property accrued during the year was $6,356,545.91, equal to 5'18 per cent of the gross revenue from railroad and auxiliary operations and was $462,550.00 larger than the accruals in 1912. A saving of approximately $38,000.00 in the amount of taxes payable on capital stock to the State of New York was effected by the cancellation of the capital stock of the roads merged and consolidated. A decrease of S187,176.34 in the taxes on real estate and of 87,373.58 in the taxes for special franchises occurred. The year's accounts, however, include a charge of $835,512.00, being the amount of county tax for recording the new mortgage executed after the close of the year under review. The Federal Government excise tax on the income of corporations assessed against this company and its leased lines on the net income of the year 1912 amounted to $147,366.72, an excess of $19,120.88 over the amount paid on the income of 1911 charged to the accounts of the year 1912. Although the principle, on which this company brought test cases, that corporations whose property was leased for a fixed annual rental to an operating corporation were not carrying on business and wTere not subject to the imposition of the income tax, was affirmed by the judgment of the Supreme Court on appeal by the Federal Government from the rulings of the lower courts, the Government officers have insisted that the taxes assessed against leased lines must be paid and they have, accordingly, been paid, under protest, and suits have been brought for the recovery of all the taxes so paid since the institution of the excise tax in 1909.

In deductions from gross corporate income there appears a decrease of $1,536,335.66 in the rentals of leased lines, but this is partly offset by an increase of $898,859.34 in the charge for interest on bonds due to the assumption as funded obligations of this company of the bonds of merged and consolidated companies and a decrease of $465,905.71 in the income derived by this company from interest and dividends on securities of those absorbed companies which were cancelled on the consummation of the mergers and consolidation, and which amounted to the sum of $655,881.13 in 1912 against the sum of $189,975.42 for the period of 1913 before the cancellation took place. The rental of the Boston & Albany Railroad increased $76,362.59 for the year due to a charge for interest from July 14th on an issue of $2,015,000 improvement bonds amounting to $46,736.81; the charge for a full year's interest amounting to $45,000.00 on $1,000,000 of improvement bonds of 1912 against $22,500.00 for six months in that year; and the charge of $9,067.50 for the increased rate of interest on an issue of refunding bonds at 5 per cent replacing a similar amount of bonds of 1893 which bore interest at the rate of 4 per cent per annum. There was a decrease of $2,125.65 in the rental of the Providence Webster & Springfield Railroad, included in the lease of the Boston & Albany Railroad, and slight increases, for corporate expenses, in the rentals of the Pittsfield & North Adams Railroad and the Ware River Railroad.

Interest on funded obligations of this company increased $1,604,461.98 due to the following causes: interest on this company's pro rata liability in connection with equipment trust certificates of 1913; interest on this company's liability in connection with Boston & Albany equipment trust of 1912 for a full year as against three months in 1912; interest on an additional issue of $32,000 of gold debentures of 1912; and interest on securities assumed as part of the merger and consolidation agreements, the latter class being offset by an approximately similar reduction in the amount paid for rental of leased lines.

12

Annual Report

In other income appears a decrease of $682,001.21 in dividends on stocks and interest on funded debt owned. This apparent decrease is caused by the cancellation of securities owned by this company, as referred to in the paragraph dealing with deductions from gross corporate income, and the reduction of the rate of dividend on American Express Company stock.

The rate of dividend on the capital stock of The New York Central and Hudson River Railroad Company for the year was five per cent, being the same as for the years 1912 and 1911.

During the year the company has purchased 949 shares of the capital stock of the New York & Harlem Railroad Company, bringing the total holdings of this stock, at December 31, up to the number of 123,916 shares, being approximately 62 per cent of the total outstanding. It has also acquired 7,500 shares of a par value of $750,000 of the capital stock of the Wells Fargo Express Company, being its pro rata proportion of the stock of that company based on this company's ownership of the stock of the American Express Company.

Several very extensive and important projects for the improvement of facilities have been carried on during the year, chief of which are the following:

Improvements at Utica, consisting of a new brick and stone passenger station, a new engine terminal, increase of terminal yard tracks and the installation of new signal apparatus, for which has been expended during the year the sum of $1,645,881.88.

Improvements at Rome, comprising a change of line including grading tracks, signals, new passenger station and new water station. The charges on account of this improvement reached the total of $483,173.01 during the year.

Improvements at Rochester, comprising a new stone passenger station, purchase of land for enlargement of Kent Street yard, new freight facilities, extension and reconstruction of several bridges, the closing of Joiner Street, placing additional tracks, the building of a new power house for heating the passenger station and other buildings and the erection of several auxiliary buildings, involving during the year an expenditure of $689,505.64.

Four-tracking the Hudson division from Storm King to Chelsea and through Pough-keepsie to Germantown. Included in this plan are new passenger stations at Staats-burgh and Rliinecliff; new ferryhouse, yard tracks, etc, at Fishkill Landing; elimination of grade crossing, new sidings and grading at Poughkeepsie; extending and reconstructing various bridges; and purchase of land at various points. The charges on account of this improvement reached the total of $2,592,855.97 during the year.

Four-tracking from Mott Haven to Peekskill and the electrification of line from Mott Haven to Croton, including the consequent changes in bridges, stations and signals, cost during the year $1,727,830.35. In this is included the development of a new terminal of the Electric division at Harmon and an important and comprehensive plan of improvements at Yonkers, consisting of the elevation of tracks and the construction of additional main tracks, a new passenger station, a new freight station, a new freight yard layout and a new passenger station at Glcnwood; elimination of grade crossings at Irvington and Ossining, including new stations, additional tracks and signal work.

13


The construction of a connection between this company's main line and the West Shore Railroad at Harbor, east of Utica, has cost during the year 8288)909.84, of which amount $37,077.53 has been charged to the West Shore Railroad Company as advances for new construction.

Tne changing of grade crossings in the city of Buffalo, which has been in progress for many years, has been continued at a cost of $112,553.68 for the work done during the year.

The changes in the accounts relating to the property of this company during the year were: Charges on account of road:

For extensions, additions and betterments $12,832,485 47 For road acquired by merger and by consolidation 46,627,874 49 $59,460,359 96

Charges on account of equipment: For equipment purchased $8,076,782 09 For additional trust equipment 7,729,614 77 Forequipmentacquircdbymergerandbyconsolidation 7,680,801 93

$23,487,198 79 Less Value of equipment retired 4,029,201 41 19,457,997 38

m a k i n g a net addition to this company's property account of $78,918,357 34

During the year $2,451,068.45 has been accrued to represent depreciation upon equipment still in service. This does not, however, diminish the amount of actual investment in equipment.

The changes in the character of the rolling stock in revenue service have been numerous and extensive, in continuance of the policy of substituting the strongest and safest cars for such equipment as was not considered to be of the required standard of efficiency and service (but which could be used safely in non-revenue service) and of equipping wooden cars with steel underframes. The following table exhibits the large increases in steel and steel-underframe cars which have been secured during the last two years: Cars in passenger S e r v i c e : Y e a r 1911 Y e a r 1912 Y e a r 1913 1913 over 1911

Steel 297 388 521 224 = 75% Steel-underframe 135 173 300 165 = 122%

Cars in freight service: Steel 4,600 7,329 8,445 3,845 = 84% Steel-underframe 11,836 18,754 29,627 17,791 = 150%

Cars of all-wood construction have undergone the changes indicated below: Y e a r 1911 Y e a r 1912 Y'ear 1913 1913 under 1911

Cars in passenger service ' 2.015 1,917 1,787 228 = 11% Cars in freight service 52,746 46,588 41,724 11,022 = 21%

During the year a net increase of 111 steam locomotives in service is shown and an increase of 10 electric locomotives of an improved type and having a capacity to haul trains of 1000 tons at a speed of sixty miles an hour. Thirty steel passenger-train cars have been equipped with multiple-unit electric motors and 25 new multiple-unit cars have been acquired, bringing the number of self-propelled cars in passenger service in the Electric division up to 192.

14

Annual Report

As indicated in last year's report this company together with other New York Central Lines entered into an equipment trust agreement, dated January 1, 1913, under which $24,000,000 of equipment trust certificates, bearing interest at the rate of 4^ per cent per annum, were to be executed to cover 90 per cent of the cost of equipment to be acquired. Out of these $24,000,000 of certificates authorized there was issued "during the year an aggregate of $15,494,000. The cost of the equipment assigned to this company in connection with the issue of these certificates is approximately $6,697,792.16 and its pro rata amount of certificates representing an amount not to exceed 90 per cent of the cost is $6,028,012.95.

During the year 1913 practically all of the railroads in the eastern section of the United States, operating in the territory east of the Mississippi and north of the Ohio and Potomac Rivers, were parties to arbitrations, first with the Brotherhood of Locomotive Firemen and Enginemen and later with the Order of Railway Conductors and Brotherhood of Railroad Trainmen, acting jointly.

The concerted movement of the firemen demanded standardization of pay and working conditions, involving an increase in the wages of firemen employed by this company of approximately 43 per cent, and resulted in arbitration under the Erdman Act. The railroads selected M r . William W. Atterbury, Vice President of the Pennsylvania Railroad Company and the firemen designated M r . Albert Phillips, Vice President of the Brotherhood of Locomotive Firemen and Enginemen. The third member of the Board (appointed by the federal authorities) was the Honorable William L . Chambers of Washington, D . C , who was selected chairman.

The arbitration proceedings were held in New York from March 10th to April 5th and on April 23rd an award was handed down which provided for an increase in the wages paid to firemen on the New York Central & Hudson River Railroad of 9'2 per cent, or approximately $250,000 per annum.

While the Conference Committee of Managers was engaged in preparation for the firemen's arbitration proceedings, a petition approved October 19, 1912, by the Eastern Association of General Committees, Order of Railway Conductors and Brotherhood of Railroad Trainmen, for standardization of rates of pay, involving an increase in the payrolls of this company estimated at $1,769,000, or 24 per cent per annum, was presented to all roads east of Chicago and north of the Chesapeake & Ohio Railway, and to the Conference Committee of Managers as well, with a view to ascertaining whether the matter would be handled by the several roads individually or in concert. United action was determined upon by the roads concerned and an Arbitration Board consisting of six members was agreed to under the terms of the Newlands Amendment of the Erdman Act. The railroads were represented upon this Board by M r . W. W. Atterbury, Vice President of the Pennsylvania Railroad Company and Mr . A . H . Smith, Senior Vice President, New York Central Lines.

The conductors' and trainmen's organizations designated as their representatives M r . L . E . Sheppard, Senior Vice President, Order of Railway Conductors and Mr . D. L . Cease, Editor and Manager of "The Railroad Trainman"; and the four members so selected met and completed their Board by choosing the Honorable Seth Low and Dr. John H . Finley, President of the College of the City of New York.

15


The Board so constituted, having chosen M r . Seth Low as its chairman, heard testimony between September 11th and October 15th and on November 10th handed down its award, which provided for an increase in the wages of conductors and trainmen employed by this company of approximately $553,000 per annum, or 7'4 per cent.

Section 19-A of the Act to Regulate Commerce, which became a law on the first day of March, 1913, provides that the Interstate Commerce Commission shall investigate and ascertain the value of all the property owned or used by all railroad companies. The Commission is required to ascertain and report in detail as to each piece of property owned or used, the original cost to date, cost of reproduction new, cost of reproduction less depreciation; also all other values and elements of value, if any, of such property. It is also required to investigate and report upon the history and organization of the present and of any previous corporation operating the property; upon moneys received by reason of any issue of stocks, bonds or other securities; upon the syndicating, banking and other financial arrangements under which such issues were made and the expense thereof, together with a large number of other matters unnecessary to specify in detail. The companies are required to cooperate with and aid in the work of the valuation of their properties in such particulars and to such extent as the Commission may require and direct. It is impossible even to approximate at this time the expense which will thereby be incurred.

Shortly after the passage of the Act, the principal carriers of the country, including this company, organized an association known as The Presidents' Conference Committee. This committee in an informal conference with the Commission pledged its hearty cooperation in the work. It has appointed an Engineering Committee consisting of fifteen members, which for several months past has been engaged in discussing with the Board of Engineers appointed by the Commission, the maps, profiles and schedules which shall be furnished by the carriers to the Commission for its use in inspecting, listing and valuing the property of the carriers. The questions involved have been of great importance and difficulty and as a result the conferences have necessarily taken a very considerable time and no active work has been undertaken by the Commission upon the property of this company. It is expected, however, that progress will be made during the year 1914.

The performance of the work for this company has been undertaken by a Valuation Committee appointed by the Board of Directors. The committee is engaged in the preliminary inquiries essential to the proper organization of the necessary forces and in making the preparations necessary to comply with the requirements of the Commission.

In May, 1913, The New York Central and Hudson River Railroad Company joined with other roads, operating in the official classification territory, in an application to the Interstate Commerce Commission for a change in the tariffs which would produce an increase of approximately five per cent in freight rates. The Commission has the matter under advisement; at the present time there is no definite indication of the date when a conclusion will be reached by the Commission nor of the character of its decision.

During the year covered by this report, The New York Central and Hudson River Railroad Company has been authorized to execute three mortgages, two of which, known as the extension mortgage, dated April 16, 1913, and the consolidation mortgage, dated June 20, 1913, have actually been executed.

i 1C

Annual Report

The extension mortgage simply extends the lien of The New York Central and Hudson River Railroad Company's $100,000,000 first mortgage, dated June 1, 1897, so as to cover the railroad properties of certain companies consolidated during the past year, which properties that company had, previous to consolidation, held under lease, the leaseholds being subject to the first mortgage.

The consolidation mortgage, which covers the lines of railroad owned by this company and certain stock and leasehold interests held by it, and which provides for the issuance of not exceeding $167,102,400 of four per cent bonds to mature on the first day of February, 1998, has been executed to the Bankers Trust Company, as trustee, to secure bonds and debentures to the amount of $167,102,400. The bonds so secured are the $90,578,400 of three and one-half per cent Lake Shore collateral bonds, $19,336,000 of three and one-half per cent Michigan Central collateral bonds, $48,000,000 of the debentures of 1904 and $9,188,000 of the debentures of 1912. It is provided that the four per cent bonds issued under this mortgage may, from time to time, as the Board of Directors decides, be offered in exchange for and to retire the Lake Shore collaterals, the Michigan Central collaterals, or the debentures. The consolidation mortgage does not increase the present bonded indebtedness of the company.

The refunding and improvement mortgage, which has been authorized by the Board of Directors, the stockholders, the Public Service Commission of the State of New York and the Public Utility Commission of New Jersey, is intended to provide for the future financing of the company or of a successor consolidated company, so far as such financing is to be met by the issuance of bonds. The bonds to be issued under this mortgage will become due on October 1, 2013, and the amount thereof at any time outstanding, together with all outstanding prior debt of the railroad company, is not to exceed three times the amount of the capital stock of the company or of a successor consolidated company, as the amount of such stock is from time to time increased. Under the terms of the mortgage the Board of Directors is given the power to issue bonds, in series, bearing interest at such rates as shall be fixed and determined by the Board, for the purposes specified in the mortgage, up to the sum of $500,000,000. When the amount issued shall be $500,000,000 no additional amount of bonds shall thereafter be issued, except to refund prior debt, unless such further issue shall have been authorized by a majority vote of the stockholders. None of the additional bonds which may be so authorized by the stockholders shall be issued in respect of work done, or property acquired, in any amount exceeding eighty per cent of the cost of such work or property.

In connection with the Grand Central Terminal improvement, the main concourse, the waiting room and many of the permanent facilities were opened to the public on February 1, 1913, and since that date rapid progress has been made towards the completion of the work. The shell of the incoming station has been completed and contract awarded for the interior finish and this important part of the terminal is expected to be ready for use by the middle of 1914. The Vanderbilt Avenue store and office building was completed and occupied during the summer and the Biltmore Hotel finished and opened on December 31st. The foundations for the Yale Club building at the corner of 44th Street and Vanderbilt Avenue have been commenced and this structure, in architectural harmony with the rest of the terminal improvements, is expected to be com-

17


pleted during 1914. The new building for the Railroad Branch of the Young Men's Christian Association, at 50th Street and Park Avenue, is nearly finished and should be ready for opening by the summer of 1914. The hospital building at 42d Street and Lexington Avenue and the old Grand Central Palace have been demolished and removed and the work of excavation for the loops was commenced immediately on their removal. A l l the multiple-unit trains are now run in and out of the suburban level and many of the temporary tracks on the Lexington Avenue side have been put at the disposal of the engineering department in connection with the work of excavating for the loops. It is expected that the inner loop tracks in the suburban level will be placed in service during 1914, but the outer loop tracks on both levels will probably not be finished before the early part of 1915.

The public street system from 42d Street to 57th Street was entirely completed during the year and the different cross streets were opened at the various dates which had been fixed by the city. In order to complete the street system it is necessary for the City of New York to build the bridge over42d Street, connecting Park Avenue at 40th Street with the driveway around the station building, but the commencement of this work has been delayed awaiting a final conclusion by the public authorities as to the location of the subway connection between Park Avenue and Lexington Avenue; it is expected that the question will be settled soon, so that the full benefit of the street system may be secured and the front of the Terminal Building finished in accordance with the published plans.

John Pierpont Morgan, who had been a director of this company since November 28, 1899, died on March 31, and on April 16, his son, John Pierpont Morgan, was made a member of the Board of Directors to succeed him. On December 16, George S. Bowdoin, who had been a director since February 4, 1898, died and his place in the Board was vacant at the end of the year.

On November 18, 1913, William C. Brown announced his resignation from the office of President which he had held since February 1, 1909, and his position as a director which he had occupied from January 27, 1909, to take effect at the close of the year 1913. On December 10th, Alfred H . Smith, Senior Vice President, was elected to be President of the company to succeed Mr . Brown from January 1, 1914.

The following changes in Executive officers were made during the year: April 1, Alfred LI. Smith was made Senior Vice President; Abraham T. Hardin

was made Vice President in charge of operation, maintenance and construction; on August 26, Howard M . Biscoe was made Vice President in charge of the Boston & Albany Railroad from September 1, to succeed James H . Hustis, resigned.

The following appointments were made during the year: February 1, Miles Bronson was made General Superintendent of the Electric Division

and Terminal Manager of the Grand Central Terminal; Garret H . Wilson was made Superintendent of the Electric Division and Superintendent of the Grand Central Terminal.

Acknowledgment is hereby rendered to officers and employees for faithful and efficient service.

A L F R E D H . S M I T H , Senior Vice President.

18

• Annual Report

CONDENSED GENERAL BALANCE SHEET, DECEMBER 31, 1913

A S S E T S P R O P E R T Y O W N E D A S I N V E S T M E N T

P h y s i c a l p r o p e r t y o w n e d R o a d an<I e q u i p m e n t t o J u n e 30, 1907

R o a d $155,206,678 71 E q u i p m e n t 59,106,588 77 $214,313,267 48

R o a d a n d equ ipment since J u n e 30, 1907 R o a d $90,501,459 93 E q u i p m e n t 19,667,260 82 G e n e r a l expendi tures 389,935 OS T r u s t e q u i p m e n t 35,299,662 34 E q u i t y i n M D T t rus t e q u i p m e n t 690,399 44 $146,548,717 61

Less A c c r u e d reserve for deprec ia t ion 5,426,933 65 141,121,783 96 $355,435,051 44

Secur i t i es o w n e d Secur i t i es of con t ro l l ed companies , p l edged : s tock $110,295,970 00 Secur i t i e s i ssued a n d assumed, p l edged : funded deb t 600,000 00 Secur i t i es of p rop r i e t a ry , affi l iated a n d con t ro l l ed companies , u n p l e d g e d :

S t o c k $30,077,589 47 F u n d e d deb t 8,357,625 00 38,435,214 47 149,331,184 47

O t h e r pe rmanen t inves tmen t s A d v a n c e s to affi l iated compan ies

N e w Y o r k , <fe H a r l e m R a i l r o a d C o m p a n y $20,532,184 38 G r a n d C e n t r a l T e r m i n a l I m p r o v e m e n t 40,690,635 01 H u d s o n R i v e r B r i d g e C o m p a n y 1,401,925 00 . A c c o u n t B o s t o n & A l b a n y t rus t e q u i p m e n t 2,390,495 96 $65,015,240 35

P h y s i c a l p r o p e r t y 5,232,807 17 Secu r i t i e s 3,713,892 50 73,961,940 02

T o t a l p r o p e r t y o w n e d as i nves tmen t 3578,728,175 i W O R K I N G A S S E T S

C a s h ^ _ $10,078,931 23 Secur i t ies issued or assumed, h e l d i n T r e a s u r y 601,896 00 M a r k e t a b l e securi t ies

S t o c k $25,170,818 81 F u n d e d deb t 1,666,052 00 26,S36,870 81

L o a n s a n d b i l l s r ece ivab le N e w Y o r k S l a t e R e a l t y & T e r m i n a l C o m p a n y $18,390,000 00 M i c h i g a n C e n t r a l R a i l r o a d C o m p a n y 2,000,000 00 T e r m i n a l R a i l w a y of B u f f a l o 1,500,000 00 Clea r f i e ld B i t u m i n o u s C o a l C o r p o r a t i o n 675,000 00 O n e i d a R a i l w a y C o m p a n y 603,000 00 N e w Jersey Shore L i n e R a i l r o a d C o m p a n y 560,000 00 N e w Y o r k S t a t e R a i l w a y s 400,000 00 M e r c h a n t s D e s p a t c h T r a n s p o r t a t i o n C o m p a n y 250,000 00 R u t l a n d R a i l r o a d C o m p a n y 203,000 00 M u t u a l T e r m i n a l C o m p a n y of B u f f a l o 188,750 00 Syracuse R a p i d T r a n s i t C o m p a n y 175,000 00 F a i r L a u d R e a l t y C o m p a n y 150,000 00 M i s c e l l a n e o u s 90,553 42 25,185,303 42

N e t traffic, c a r mi leage a n d per d i e m ba lance 4,438,816 33 N e t ba lance due f rom agents a n d conduc to r s 3,242,666 53 M i s c e l l a n e o u s accounts rece ivable 7,519,607 76 M a t e r i a l s a n d suppl ies 11,724,288 8 3 U n m a t u r e d interest , d i v i d e n d s a n d rents rece ivab le 3,340,375 88 92,968,756 79

D E F E R R E D D E B I T I T E M S A d v a n c e s

T e m p o r a r y advances to affi l iated companies $19,679 16 W o r k i n g funds 174,079 79 O t h e r advances

W e s t Shore R a i l r o a d C o m p a n y $12,926,050 62 G e n e v a C o r n i n g & S o u t h e r n R a i l r o a d C o m p a n y 3,292,925 51 B e e c h C r e e k R a i l r o a d C o m p a n y 1,509,570 41 O t h e r compan ies 1,444,072 27 19,172,618 81

Insurance p r e m i u m s p a i d i n advance 7,779 69 S p e c i a l deposi ts 2,947,817 56 C a s h i n r e d e m p t i o n fund 1,000 00 C a s h a n d securi t ies i n insurance a n d o ther reserve funds 75,810 03 I t e m s i n suspense 4,499,046 17 26,897,831 21

$698,594,763 93

19


CONDENSED GENERAL BALANCE SHEET, DECEMBER 31, 1913

L I A B I L I T I E S

C a p i t a l s tock , c o m m o n C o n s o l i d a t i o n certificates of 1869

5225.576,166 00 4,900 00 $225,581,066 0 0

M O R T G A G E , B O N D E D A N D S E C U R E D D E B T

F u n d e d debt M o r t g a g e bonds , as per detai ls on cap i t a l i za t ion page C o l l a t e r a l t rus t bonds

L a k e Shore co l l a t e ra l M i c h i g a n C e n t r a l co l l a t e ra l

Deben tu res a n d notes D e b e n t u r e of 1900 G o l d debentures of 1904 G o l d debentures of 1912 T h r e e y e a r g o l d notes of 1911 T h r e e y e a r go ld notes of 1912

E q u i p m e n t t rus t ob l iga t ions E q u i p m e n t t rus t certificates of 1907 E q u i p m e n t t rus t cert if icates o f 1910 E q u i p m e n t t rus t cert if icates of 1912 B o s t o n & A l b a n y equ ipmen t trust certificates of 1912 E q u i p m e n t t rus t certificates of 1913

Misce l l aneous M o r t g a g e s on r ea l estate

$124,109,000 00

S!>O,57S,40O CO 19,336,000 00

$5,500,000 00 48,000,000 00

U.1KS.OUI) III) 30,000,000 00 20,000,000 00

$7,142,941 06 5,207,573 04 6,679,625 40 4,872,000 00 6,028,012 95

109,914,400 00

112,6SS,000 DO

2,002,500 O o V 3

W O R K I N G L I A B I L I T I E S

L o a n s a n d b i l l s payab le N e t traffic, car mi leage a n d per d i e m ba lance A u d i t e d vouchers a n d wages u n p a i d M a t u r e d d iv idends , interest a n d rents u n p a i d M a t u r e d mortgage, bonded a n d secured debts u n p a i d W o r k i n g advances due to other companies

B o s t o n & A l b a n y R a i l r o a d Company-G e n e v a C o r n i n g & S o u t h e r n R a i l r o a d C o m p a n y W e s t Shore R a i l r o a d C o m p a n y W a l l k i i l V a l l e y R a i l r o a d Company-

Other w o r k i n g l i ab i l i t i e s

A C C R U E D L I A B I L I T I E S N O T D U E

D i v i d e n d s dec lared a n d in te ies t a n d rents accrued T a x e s accrued

$44,867,537 75 5,112,172 64 9,236,078 08 4,346,942 59

10,790 00

$3,320,643 07 544,542 92

92,578 54 59,349 37

4,835 60 67,595,470 56.

$6,631,947 30 1,424,025 00 8,055,972 30

D E F E R R E D C R E D I T I T E M S

O p e r a t i n g r

A P P R O P R I A T E D S U R P L U S

A d d i t i o n s to p rope r ty t h r o u g h income since June 30, 1907 Inves ted i n s i n k i n g a n d r edempt ion funds

$5,608,735 49 80,608 04 5,689,343 53

F R E E S

Prof i t a n d loss

3698,594,763 93

20

Annual Report

CAPITALIZATION

Capital stock

N u m b e r of shares au tho r i zed 2,255,811 N u m b e r of shares issued 2,255,761 M / i o i C o n s o l i d a t i o n cert if icates of 1869 not conver t ed 49

T o t a l n u m b e r of shares o u t s t a n d i n g 2,255,810

T o t a l par va lue au thor ized T o t a l par v a l u e ou t s t and ing C o n s o l i d a t i o n certificates of 1S69 o u t s t a n d i n g

T o t a l par va lue ou t s t and ing

D i v i d e n d for the year five per cent

MORTGAGE BOrJDS N Y C & H R R R C o - G o l d mortgage

P a r va lue per share $100.00

A m o u n t of c a p i t a l s tock per m i l e of r o a d o w n e d (1827 66 miles) $123,426.17

Mortgage, bonded and secured debt

Date of Date of Amount of Amount issued ami Rate of

1S97 J u l y 1, 1997 '$100,000,000 00

1909 June 1, 1959 20,000,000 00

G e n e v a C o r n i n g & Sou the rn first a n d re funding 1909 M a y 1, 1959 G00,000 00

- S p u y t e n D u y v i l & P o r t M o r r i s first

$94,000,000 00 < ZWo

2,500,000 00 ^ 3 J %

T h e fo l lowing mor tgage bonds were assumed as funded ob l iga t ions under the te rms of the merger of M a r c h 7, 1913 a n d conso l ida t ion o n A p r i l 16, 1913:

C a r t h a g e & A d i r o n d a c k R a i l w a y C o first 1892 D e e . 1, 1981 , 1,600,000 00 1,100,000 00 s 4 %

C a r t h a g e W a t e r t o w n & S I I It 11 C o conso l ida ted 1S91 J u l y 1, 1931 300,000 00 300,000 00 - 5 %

G o u v e r n c u r &. Oswegatch ie R R C o first 1892 June 1, 1942 • 300,000 00 300,000 00 5 %

L i t t l e F a l l s <fc D o l g e v i l l e R R C o first 1902 J u l y 1, 1932 , 250,000 00 250,000 00 • / 3 %

M o h a w k & M a l o n e R a i l w a y C o first

M o h a w k i t M a l o n e R a i l w a y C o conso l ida ted

1892

1902

Sept . 1,

M a r . 1,

1991

2002 | 10,000,000 00

2,500,000 00 -

3,900,000 00 -

4 %

3 i %

N e w Y o r k & N o r t h e r n R a i l r o a d C o first

N e w Y o r k & P u t n a m R a i l r o a d ( 'o first conso l ida ted

1887

1894

O c t . 1,

O c t . 1,

19271

1993 j 6,200,000 00

1,200,000 00 -1

3,987,000 00 4 %

N o r w o o d & M o n t r e a l R a i l r o a d C o first 1886 A p r . 1, 1916 ^ 130,000 00 130,000 00 1 5 %

Oswego & R o m e R a i l r o a d C o first 1865 M a y 1, 1915 350,000 00 350,000 00 v 7 %

Oswego & R o m e R a i l r o a d C o second 1891 M a y 1, 1915 400,000 00 397,000 00 • 5 %

Oswego R a i l r o a d B r i d g e C o first 1885 F e b . 1, 1915 100,000 00 100,000 00 i 6 %

R o m e W a t e r t o w n A Ogdensbu rg R R C o first cons 1874 J u l y 1, 1922 9,076,000 00 J 5 /c

R o m e W a t e r t o w n & Ogdensburg R R C o first cons 1874 J u l y 1, 1922 10,000,000 00 y 419,000 0 0 » 4 %

R o m e W a t e r t o w n & Ogdensbu rg R R C o f i r s t c o n s 1874 J u l y 1, 1922 _ y 500,000 00 1 3 ! %

R W & O T e r m i n a l R a i l r o a d C o first 1888 M a y 1, 1918 375,000 00 375,000 00 -i 6 %

Syracuse Phccn ix & O R R C o first 1885 F e b . 1, 1915 . ' 175,000 00 175,000 0 0 v 6 %

U t i c a & B l a c k R i v e r R R C o first 1890 J u l y 1, 1922 2,000,000 00 1,950,000 00 •. 4 %

T o t a l 5152,780,000 00 $124,109,000 00

Brat day of

I J a n u a r y I a n d J u l y I J u n e a n d \ D e c e m b e r f M a y a n d 1̂ N o v e m b e r

j J u n e and \ D e c e m b e r ( J a n u a r y \ a n d J u l y ( J u n e a n d \ D e c e m b e r ( J a n u a r y \ a n d J u l y ( M a r c h a n d \ September ( M a r c h a n d

\ September ( A p r i l a n d \ Oc tobe r f A p r i l a n d \ O c t o b e r f A p r i l a n d \ Oc tobe r f M a y a n d \ N o v e m b e r / F e b r u a r y \ a n d A u g u s t ( F e b r u a r y \ a n i l A u g u s t / A p r i l a n d \ O c t o b e r

/ A p r i l a n d \ Oc tobe r / A p r i l a n d 1 O c t o b e r J M a y a n d 1 N o v e m b e r I F e b r u a r y \ a n d A u g u s t f J a n u a r y \ a n d J u l y

21


CAPITALIZATION—(concluded)

Mortgage, bonded and secured debt—(concluded)

C O L L A T E R A L T R U S T B O N D S

G o l d bonds , L a k e Shore co l la te ra l

G o l d bonds, M i c h i g a n C e n t r a l co l la te ra l

P L A I N B O N D

Deben tu re

J) : :HI- :NTI 'UI- :S A N D N O T E S

G o l d debentures

G o l d debentures

T h r e e y e a r g o l d notes

T l i r e c year g o l d notes

E Q U I P M E N T T R U S T O B L I G A T I O N S

E q u i p m e n t t rus t certificates



E q u i p m e n t t rus t cert if icates ( B o s t o n i t A l b a n y R a i l r o a d )


M I S C E L L A N E O 111) OBLIGATIONS

M o r t g a g e on real estate in c i t y of N e w

M o r t g a g e on rea l estate i n c i t y of U t i c a 1911

T o t a l a m o u n t of funded debt ou t s t and ing

1S98 F e b . 1 1998 $100,000,000 00 - S90,57S,400 00 3 1 %

1898 F e b . 1 , 1998 / 21,550.000 00 19,330,000 00 3 ! %

T o t a l $121,550,000 00 $109,914,400 00

1900 J u l y 1 2000 $5,500,000 00 $5/500,000 00 3 ! %

1904 M a y 1. 1934 50,000,000 00 ^ 48,000,000 00 4 %

1912 J a n . 1, 1942 J 50,000,000 00 9,188,000 00 4 %

1911 M a r . 1 1914 30,000,000 00 . 30,000,000 00 4 1 %

1912 M a y 1 ; 1915 30,000,000 00 * 20,000,000 00 4 J %

T o t a l $105,500,000 00 1112,688,000 00

1907 N o v . 1. 1922 $11,904,90 1 78 $7,142,941 06 , 5 %

1910 J a n . 1 ; 1925 6,509,466 30 5,207,573 04 4 1 %

1912 J a n . 1 1927 7,156,741 50 6,679,625 40 4 1 %

1912 O c t . 1 , 1927 7,500,000 00 4,872,000 00 4 1 %

1913 J a n . 1, 1928 6,028,012 95 6,028,012 95 4 1 %

T o t a l $39,099,122 53 $29,930,152 45

1912 M a y 1 1923 $1,000,000 00 . $1,000,000 00 3 1 %

1913 M a y 1 , 1923 1,000,000 00 1,000,000 00 3 1 %

M a y IS , 1914

T o t a l § 2 , 0 0 2 , 5 0 0 00

$37S,644,052 45

I F e b r u a r y { a n d A u g u s t f F e b r u a r y 1̂ a n d A u g u s t

f J a n u a r y I a n d J u l y f M a y a n d

\ N o v e m b e r ( J a n u a r y 1 a n d J u l y

M a r c h and \ September ( M a y a n d

\ N o v e m b e r

\ N o v e m b e r / J a n u a r y \ a n d J u l y ( J a n u a r y I a n d J u l y ( A p r i l a n i l

\ Oc tobe r f J a n u a r y \ a n d J u l y

19 th d a y of M a r . , June , Sept . , D e c . 15 th d a y of A p r i l a n d O c t o b e r 18 th d a y of M a y a n d N o v e m b e r

A m o u n t per mi le of r o a d o w n e d (1827*66 mi les) , exc lud ing L a k e Shore a n d M i c h i g a n C e n t r a l col la tera ls a n i l D e b e n t u r e of 1900, 5144,025.50

London fiscal agents

M E S K H S M O R G A N , G H E N F E L L & C O M P A N Y , 22 O l d B r o a d Street , L o n d o n , E . C , E n g l a n d

Treasurer, New York

Union Trust Company of New York

Messrs Morgan, Grcnfill tfc Company, London

Union of London and Smith's Bank, Limited

i Transfers s tock J P a y s d iv idends o n s tock issued i n A m e r i c a 1 Transfers registered bonds [ P a y s interest o n coupon a n d registered bonds

Regis te rs s tock i s sued i n A m e r i c a ( Trans fe r s tock issued i n E n g l a n d

\ P a y d i v i d e n d s o n s tock issued i n E n g l a n d Reg i s te r s s tock issued i n E n g l a n d

22

Annual Report

DETAIL OF EXPENDITURES FOR IMPROVEMENTS TO PROPERTY

New construction

Connect inn between West Shore H:iiln>ad a n d X V C m a i n l ine east of U t i c a * '

Improvements in station, yard and terminal facililic

N e w passenger s ta t ion , engine t e rmina l , ete, TJtica S l ,645 ,881 88 N e w passenger s t a t i on a n d t r ack changes, Roches te r 356,725 30 E n l a r g i n g y a r d a n d freight house, Roches te r 257,300 18 N e w ice house, Roches t e r 75,480 16 S h o p a n d o ther improvemen t s , W e s t A l b a n y 287,804 87 N e w passenger s t a t i on , t r a ck changes, ete, R o m e 483,173 01 N e w passenger a n d f re ight s t a t ion , P o t s d a m 90,892 11 S t a t i o n a n d freight improvemen t s , A l b a n y 88,459 54 N e w passenger s t a t i on a n d o ther improvemen t s , Poughkeeps ie 81,617 62 N e w transfer p l a t f o r m , ex t end ing y a r d , etc, M i n o a 80,819 94 F r e i g h t fac i l i t ies a n d s t a t i on improvemen t s , M o t t H a v e n 39,207 52 N e w y a r d be tween S ta te F a i r grounds a n d B e l l e Isle, Syracuse 30,898 46 N e w ice house a n d t r ack changes, Oswego 28,459 39 S m a l l i m p r o v e m e n t s a t va r ious places 396,421 09

Roadway and bridge improvements

F o u r - t r a c k i n g , S p u y t e n D u y v i l to P e e k a k i l l : E n g i n e e r i n g T r a c k w o r k a n d grad ing Br idges , trestles a n d cu lve r t s Cross ings a n d signs S t a t i o n i m p r o v e m e n t s

E n g i n e houses, shops a M i s c e l l a n e o u s w o r k

1 tu rn tab les

3111,965 71 352,545 84

43,648 80 18,901 26

176,996 42 304,497 06 286,819 18

86,837 14 $1,31 !,211 41

F o u r - t r a c k i n g , H u d s o n d i v i s i o n E l e c t r i f i c a t i o n of l ines, M o t t H a v e n to C r o t o n R e v i s i n g grade a n d t h i r d - t r a c k i n g Syracuse J u n c t i o n b r a n c h N e w supers t ruc ture a n d m a s o n r y change, b r idge 28S, Oswego R e n e w i n g three bridges, C h a r l o t t e b r a n c h R e p l a c i n g ex i s t i ng d r awspan , b r idge 12, P e e k s k i l l R e c o n s t r u c t i n g b r idge 307, S t o c k p o r t W y e t r a ck d rawbr idge , C h a r l o t t e D o u b l e t r a c k i n g , C a l c i u m t o P h i l a d e l p h i a In terchange t racks at S a l i n a T r a c k s a n d s idings , va r i ous places I n t e r l o c k i n g a n d a u t o m a t i c s igna l appara tus O t h e r i m p r o v e m e n t s

Change of grade crossings, Buffalo

Change of grade crossings, various places

Land at various places

Road acquired by merger and by consolidation

2,592,855 97 345,618 94 158,260 20

52,802 73 45,843 26 36,827 99 21,989 43 17,274 37 32,266 94 15,055 99

771,579 58 483,629 34 342,380 77 6,298,590 92

112,553 68

67,255 60

2,159,105 89

46,627,874 49

./Vet increase in road investment carried forward $59,460,359 96

23


DETAIL OF EXPENDITURES FOR IMPROVEMENTS TO PROPERTY (continued)

Xet increase in road investment brought forward $59,460,359 9' ew equipment

TRUST EQUIPMENT ADDED: 155 locomot ives a n d appl iances S2,465,258 70 24 locomot ives a n d appl iances B & A 235,684 00 42 passenger-train cars 23,037 53 31 passenger- t ra in cars B & A 233,168 42

1,128 f re ight - t ra in cars 1,560,103 57 4,985 f re igh t - t ra in cars B & A 2,454,262 76

100 pieces of w o r k e q u i p m e n t B «fc A 67,700 35 E q u i t y i n M D T t rus t e q u i p m e n t (532 pieces) 690,399 44 $7,729,614 77

Equipment replacement fund

EQUIPMENT RETIRED: 120 locomot ives $1,557,309 51

30 passenger- t rain cars 320,760 60 2,609 f re igh t - t ra in cars 1,684,965 99

698 pieces of w o r k e q u i p m e n t 305,347 14 8 pieces of floating e q u i p m e n t 131,677 62

N Y & O re t i rements p r io r to date of merger 29,140 55 $4,029,201 41

EQl'IPMENT ADDED, INCLUDING PARTIAL PAYMENTS!

S t e a m locomot ives , E l e c t r i c locomot ives , Passenger- t ra in cars. F r e i g h t - t r a i n cars, W o r k equ ipment , M a r i n e equipment ,

52 p u t i n service

12 24

Equipment acquired by merger and by consolidation

N e t i nves tmen t i n equ ipmen t d u r i n g year

N e t increase i n r o a d a n d equ ipmen t inves tment

$1,673,058 19 391,743 88

1,121,939 37 4,221,863 05

92,471 70 575,705 90 8,076,782 09 4,047,580 68

Accrued reserve for depreciation $2,451,068.45

24

Annual Report

D E T A I L O F E X P E N D I T U R E S F O R I M P R O V E M E N T S T O P R O P E R T Y {continued)

AMOUNTS EXPENDED t'DH IMPROVEMENTS UN LEASED LINES

G r a n d Central Terminal Improvement

New York & Harlem Railroad

F o u r - t r a c k i n g , N e w Y o r k to N o r t h W h i t e P l a i n s : E n g i n e e r i n g $55,551 68 Br idges , trestles a n d cu lver t s 3,494 67 T r a c k w o r k a n d g r ad ing 36,872 16 S t a t i o n i m p r o v e m e n t s 49,481 04 S igna l , te lephone a n d o ther i tems 10,946 27 $156,345 82

E l e c t r i f i c a t i o n , N e w Y o r k to N o r t h W h i t e P l a i n s 105,038 00 E x t e n s i o n t o freight house, etc, Westches ter A v e , B r o n x 21,525 76 S i g n a l i m p r o v e m e n t s 37,677 33 S t a t i o n a n d o ther i m p r o v e m e n t s 34,590 22 T r a c k s a n d s id ings a n d t rack work , va r ious places 51,300 03 M i s c e l l a n e o u s i m p r o v e m e n t s 22,199 01

West Shore Railroad

N e w p ie r N o 5, W e e h a w k e n 8360,637 79 G r a d e r ev i s ion , U t i e a to C e n t r a l J u n c t i o n 254,536 18 N e w y a r d , Syracuse J u n c t i o n 89,605 35 R e p l a c i n g t w o transfer br idges a n d cons t ruc t ing one new, W e e h a w k e n 38,516 47 D r e d g i n g , N e w Y o r k ha rbo r 25,153 93 I m p r o v e m e n t of freight a n d passenger facil i t ies, M a r l b o r o u g h 22,410 96 E l i m i n a t i o n of grade crossings, Buffa lo 69,639 98 E n l a r g i n g engine bouse a n d repai r shop, R n v e n a 21,481 12 E x t e n d i n g B r i d g e S t across the t r acks of the N Y C a n d \ V S, S o l v a y 19,675 23 C o n n e c t i o n w i t h T e r m i n a l R a i l w a y of Buf fa lo at D e p e w 13,438 73 D e t o u r a t H a r b o r 37,077 53 T r a c k s a n d s idings , va r i ous places 181,502 97 I n t e r l o c k i n g s igna l appara tus , etc 77,256 65 B r i d g e a n d d r a w b r i d g e i m p r o v e m e n t s 36,111 22 S t a t i o n a n d o ther i m p r o v e m e n t s 10,956 56 O t h e r miscel laneous i m p r o v e m e n t s 114,400 53

$1,372,401 20 Less s und ry credi ts 32,274 08 1,340,127 12

Boston & Albany Railroad

I m p r o v e m e n t s a t P i t t s f i e l d B r i d g e i m p r o v e m e n t s T r a c k s a n d s id ings , va r i ous places T h i r d t r a c k i n g S t a t i o n i m p r o v e m e n t s T w o t r a c k t u n n e l a n d t r ack changes, S t a t e L i n e S i g n a l i m p r o v e m e n t s A b o l i t i o n of grade crossings M i s c e l l a n e o u s i m p r o v e m e n t s a n d adjus tments

$113,830 63 579,127 26 241,821 80

78,210 78 90,175 95 22,178 02 30,330 50 14,317 39 90,463 61

Carried forward $13,759,312 23

25


D E T A I L O F E X P E N D I T U R E S F O R I M P R O V E M E N T S T O P R O P E R T Y {concluded)

A M O U N T S E X P E N D E D F O R I M P R O V E M E N T S O N L E A S E D L I N E S (concluded)

Brought forward . $13,759,312 2 3 Geneva Corning & Southern Railroad

D o u b l e t r a c k i n g w i t h m i d d l e t r a ck near P r e sho $16S,031 93 N e w y a r d i m p r o v e m e n t , N e w b e r r y J u n c t i o n 26,417 74

S t a t i o n a n d o the r i m p r o v e m e n t s 36,770 49

S i g n a l i m p r o v e m e n t s 14,469 56 V a r i o u s s m a l l i m p r o v e m e n t s 15,133 66 260,823 38

Beech Creek Railroad

B o i l e r shop, A v i s

E x t e n s i o n of l o a d i n g y a r d , C lea r f i e ld 100-ton crane for e rec t ing shop, A v i s C a r r epa i r b u i l d i n g , tools , e tc , C l e a r f i e l d E n l a r g i n g engine house s ta l l s , A v i s S t r e n g t h e n i n g br idges V a r i o u s s m a l l i m p r o v e m e n t s

$104,166 37 39,402 81 24,425 99 14,374 78

9,063 50 10,093 11 31,316 17 232,842 73

B r i d g e s t reng then ing , t r a ck i m p r o v e m e n t , ad jus tments a n d comple t i on

of w o r k a t s u n d r y places Troy & Greenbush Railroad Beech Creek Extension Railroad Wallkill Valley Railroad New Jersey Junction Railroad

1,357 90 71,129 65 10,549 61 13,127 8 5

Less r e p a y m e n t of s u n d r y advances b y N e w Jersey J u n c t i o n R a i l r o a d

N e t a m o u n t charged to ex i s t ing leased l ines

E x p e n d i t u r e s accoun t of leased lines, p r i o r to merger o r conso l ida t ion ,

af terwards t ransfer red t o " C o s t of r o a d p u r c h a s e d " i n the X Y C accoun t s

Rome Watertcu-n & Ogdensburg Railroad

D o u b l e - t r a c k i n g , C a l c i u m to P h i l a d e l p h i a $20,313 39

N e w ice house a n d t r a c k changes, Oswego 16,017 04

N e w passenger a n d f re ight s t a t ion , P o t s d a m 17,264 43

R o a d w a y a n d b r idge i m p r o v e m e n t s 27,992 48

S t a t i o n a n d o the r i m p r o v e m e n t s 25,9S6 46 $107,573 80

Carthage Watertown & Sockets Harbor Railroad 5,346 06

Gouverneur & Oswegatchie Railroad 826 25

Mohawk & Malone Railway 19,161 53

Niagara Falls Branch Railroad 110 50

New York cfc Putnam Railroad 15,200 14

Spuyten Duyvil & Port Morris Railroad 3,226 86

Tivoli Hollow Railroad 2,100 87

Utica & Black River Railroad 17,064 04

$14,349,143 3 5

40,000 00

$14,309,143 35

Less ad jus tment accoun t Oswego & R o m e R a i l r o a d

$170,610 0 5

15 7 5

N e t a m o u n t charged to leased l ines for add i t ions a n d be t t e rmen t s $14,479,737 65

2G

Annual Report

STOCK AND BONDS OWNED OR ACQUIRED UNDER LEASE

Stock

No of shares Par value Albany Southern Railroad Co 36 $3,600 00 American Express Co 30,000 3,000,000 00

... 'Beech Creek Railroad Co 25 1,250 00 —• Beech Creek Extension Railroad Co 81,790 5,179,000 00 -

Boston Terminal Company 1,000 100,000 00 Central Dock & Terminal Railway Co 1,354 135,400 00 Cherry Tree tfc Dixonville Railroad Co 5,000 250,000 00—-Chest Creek Railroad Co 200 20,000 00

,> Chester & Becket Railroad Co 288 28,800 0 0 -Clearfield Bituminous Coal Corporation 16,500 825,000 00 Cornwall Bridge Company 2,500 250,000 00 Dolgeville & Salisbury Railway Co I nsl ailments 40,210 00 — Dunkirk Allegheny Valley & Pittsburgh Railroad Co 11,792,VJ 1,179,275 00 Fair Land Realty Co 25 2,500 00 Gallitzin Coal & Coke Co 200 20,000 00 Genesee Falls Railroad Co 250 25,000 00 Geneva Corning & Southern Railroad Co preferred 50,000 5,000,000 00 -Geneva Corning & Southern Railroad Co common 18,208 1,820,800 00 -Hudson River Bridge Company at Albany 5,000 500,000 00 — Jersey City & Bayonne Railroad Co 135 13,500 00 Lake Shore & Michigan Southern Railway Co 452,892 45,289,200 0 0 -Merchants Despatch Transportation Co 6,388 638,800 00 — Michigan Central Railroad Company 168,193 16,819,300 00 -Mohawk Valley Company 51,143 5,114,300 0 0 -Mutual Terminal Company of Buffalo 150 15,000 00

*—* New Jersey Junction Railroad Co 1,000 100,000 00— New Jersey Shore Line Railroad Co 310 31,000 00 —

' New York <& Fort Lee Railroad Co 10,000 1,000,000 00 — - N e w York & Harlem Railroad Co preferred 22,245 1,112,250 00 —

New York & Harlem Railroad Co common 101,671 5,083,550 00 -New York <fc Ottawa Bridge Co 20 2,000 00 New York Central & Hudson River Railroad Co 18iVff 1,896 00 — New York New Haven & Hartford Railroad Co 15,456 1,545,600 00 New York Ontario & Western Railway Co preferred 10 1,000 00 New York State Railways first preferred 6 600 00 New York State Railways common 136,043 13,604,300 00 -New York State Realty & Terminal Co 1,000 100,000 00 Ottawa & New York Railway Co 10,000 1,000,000 00 — Pennsylvania Coal & Coke Co 11,250 562,500 00


27


STOCK A N D B O N D S O W N E D OR A C Q U I R E D U N D E R L E A S E (concluded)

Stock (concluded)

N o o f shares Par value Brought forward $110,415,631 00

Pennsylvania & Western Railroad Co 2,000 100,000 00 Pittsfield «fc North Adams Railroad Co 722 72,200 00— Queenston Suspension Bridge Co (£25 each) 3351 40,000 00 Rutland Railroad Co preferred 23,520§ 2,352,050 00 St Lawrence & Adirondack Railway Co 16,150 1,615,000 00 State Line <fc Stony Point Railroad Co (ten per cent paid) 185 18,500 00 Terminal Railway of Buffalo 5,000 500,000 00— Toronto Hamilton & Buffalo Railway Co 12,999 1,299,900 00 — Troy Union Railroad Company 150 15,000 00 Wallkill Valley Railroad Co 3,300 330,000 00 Wells Fargo Express Co 7,500 750,000 00 West Branch Coal Company 2,000 200,000 00 Western Transit Company 10,000 1,000,000 00 -West Shore Railroad Co 100,000 10,000,000 00-— Miscellaneous 99,553 00

Total par value of stock $128,807,834 00

Bonds Total amount held

Beech Creek Railroad Co Second mortgage 8500,000 00 — Beech Creek Extension Railroad Co Consolidated mortgage 3,904,000 00 — Cherry Tree & Dixonville Railroad Co Debenture certificates 576,329 76 Chester & Becket Railroad Co First mortgage 50,000 00 Chicago Peoria & St Louis Railroad Co General and refunding bonds .1,000 00 Clearfield Bituminous Coal Corporation Purchase money mortgage 275,000 00 — Clearfield Bituminous Coal Corporation Mortgage gold bonds 750,000 00 — Dunkirk Allegheny Valley <fc Pittsburgh Railroad Co First mortgage 2,900,000 00 — New York & Ottawa Bridge Co First mortgage 500,000 00 — New York Central & Hudson River Railroad Co Geneva Corning & Southern Railroad Mortgage 000,000 00 -New York Central & Hudson River Railroad Co Lake Shore collateral 10,000 00 New York Central <fc Hudson River Railroad Co Debentures of 1912 00,000 00 New York New Haven tt Hartford Railroad Co Convertible debentures 3*4 % 206,300 00 New York New Haven & Hartford Railroad Co Convertible debentures 6% 421,000 00 Ottawa & New York Railway Co First mortgage 825,000 00 Ottawa it New York Railway Co Second mortgage income 275,000 00 - _ Rome Watertown & Ogdensburg Railroad Co First consolidated mortgage 2,000 00— Terminal Railway of Buffalo First mortgage 500,000 00— Toronto Hamilton & Buffalo Railway Co Second mortgage 372,000 00 — , Miscellaneous 179,916 28

Total par value of bonds $12,967,540 04

Grand total par value of stock and bonds $141,775,380 04

The securities held by the company are carried on its books at a total value of $180,483,843.78

28

Annual Report

THE NEW YORK CENTRAL LINES EQUIPMENT TRUSTS

The following statement shows the character of the equipment acquired under the terms of the New York Central Lines Equipment Trust Agreements and Leases of 1907, 1910, 1912 and 1913, and The New York Central Boston & Albany Trust Agreement and Lease of 1912, together with the total amount of certificates issued and the amount now outstanding:

E Q U I P M E N T T R U S T O F 1907 Certificntoa issued tor not In Weed Balaace

C (If) per imtof valuo I.nCC- Freight bearing interest Certificates

Road at 5 per cent redeemed Dec. 31, 1913 N Y ' C & H R R R 447 88 4,000 $11,904,901 78 $4,761,960 72 $7,142,941 06 L S & M S R y 125 25 4.000 200 6,708,392 73 2,683,357 OS 4,025,035 05 C I & S R R 2 8 3,400 150 3,779,976 60 1,511,990 64 2,267,9S5 00 M C R R 5 15 3,500 200 3,906,381 7 3 1,562,552 70 2,343,829 03 G C C & S t L R y 112 17 1,525 100 3,700,347 16 1,480,138 86 2,220,208 30

T o t a l s •691 153 16,425 650 $30,000,000 00 $12,000,000 00 $18,000,000 00

E Q U I P M E N T T R U S T O F 1910

Loco- Passenger Freight Road

N Y C & H R R R 127 30 4,000 L S & M S R y 75 00 12,500 C I & S R R 31 2 1,000 M C R R 112 34 3,300 C C C & S t L R y 80 6 1,600

T o t a l s 425 132 22,400

Certifieatoa issued for not to exceed

91) pir rout of value bearing inturuat at 4i per cent

S6,509,466 30 13,337,243 10

1,638,607 50 5,520,295 80 2,994,3S7 30

Certificates redeemed

$1,301,893 26 2,667,448 62

327,721 50 1,104,059 16

598,877 46

Balance certificates outstanding

Dec. 31, 1913 $5,207,573 04 10,009,794 48

1,310,886 00 4,416,236 64 2,395,509 84

250 $30,000,000 00 $6,000,000 00 $24,000,000 00

Road N Y C & H R R R L S & M S R y C I & S R R M C R R C C C & S t L R y

T o t a l s

E Q U I P M E N T T R U S T O F 1912 Certifiea

20 48

6,350 150 3,750

250 2,500 1,500

90 |,er cent of valuo bearing interest at 41 per cent

$7,156,741 50 2,974,961 2 5

194,280 75 2.27. I 50 2,39S,353 00

$477,116 10 198,330,75

12,952 05 151,710 90 159,890 20

certificates outstanding

Dec. 31, 1913 $6,679,625 40

2,776,630 50 181,328 70

2,123,952 60 2,238,462 80

$15,000,000 00 $1,000,000 00 $14,000,000 CO

E Q U I P M E N T T R U S T O F 1913 Certificates issued for not to exceed

90 per cent of volua Loco- Passenger Freight bearing interest

Road mntives cars cars at 4 , per cent N Y C & I I R R R 226 50 1,000 $6,028,012 95 L S & M S R y 33 30 1,213,072 16 M C R R 78 30 2,055,234 09 C C C & S t L R y 1,000 1,087,551 00 P & L E R R 4,000 3,981,991 60 T & O C R y 3 1,000 1,128,138 30

T o t a l s 340 110 7,000 $15,494,000 00

N Y C & H R R R C O — B O S T O N & A L B A N Y E Q U I P M E N T T R U S T O F 1912 Certifioatca issued lor not to exceed Balance

Company 00 per cent of valuo certificates Loco- Paaaenger Freight service boarinit interest Certificates outslanding

Road motivea cats cars cars at 4) per cent redeemed Dec. 31. 1913 B o s t o n & A l b a n y 21 31 5,200 100 S5,220,000 00 § 3 4 8 , 0 0 0 00 84,872,000 00

29


DETAIL OF OPERATING REVENUES

R E V E N U E S F R O M TRANSPORTATION

1913 1912* Increase Decrease Freight revenue $68,986,965 35 $64,990,244 05 $3,996,721 30

Passenger revenue 35,599,792 04 33,058,181 69 2,541,610 35

Excess baggage revenue 365,725 85 283,339 49 22,386 36

Parlor and chair car revenue 19,750 00 25,230 48 $5,480 48

Mail revenue 3,017,827 93 2,531,144 62 486,683 31

Express revenue 4,708,835 70 4,732,728 64 23',892 94

Milk revenue (on passenger trains) 141,343 58 118,867 47 22,476 11

Other passenger train revenue 676,827 18 731,404 12 54,576 94 Switching revenue 1,622,253 57 1,627,008 38 4,754 81

Special service train revenue 29,533 19 60,658 15 31,124.96

Miscellaneous transportation revenue 109,644 52 98,942 55 10,701 97

Totai transportation revenues $115,218,498 91 $108,257,749 64 86,960,749 27

R E V E N U E S F R O M OPERATIONS OTHER T H A N TRANSPORTATION

Station and train privileges $451,543 90 S240,384 79 $211,159 11

Parcel room receipts 109,110 39 101,474 82 7,635 57

Storage—freight 90,411 24 93,081 53 $2,670 29

Storage—baggage 52,316 35 51,024 85 1,291 50

Car service 460,690 49 430,953 82 29,736 67

Telegraph and telephone service 3,873 14 2,654 79 1,218 35

Rents of buildings and other property 436,542 33 448,072 55 11,530 22

Miscellaneous 317,932 75 230,723 43 87,209 32

Joint facilities revenue—Dr. 303,970 39 225,052 06 78,918 33

Joint facilities revenue—Cr. 67,354 94 66,520 18 834 76

Total non-transportation revenues

Total operating revenues

81,685,805 14 $1,439,838 70 $245,966 44 Total non-transportation revenues

Total operating revenues 8116,904,304 05 8109,697,588 34 $7,206,715 71

* Revised: Ottawa A New York Railway transactions eliminated

30

Annual Report

OPERATING EXPENSES IN DETAIL

(Rail operations only)

M A I N T E N A N C E O F W A Y A N D S T R U C T U R E S

1913 1912* Increase Decrease Super in tendence 8805,677 09 8825,842 13 $20,165 04 B a l l a s t 352,114 90 430,885 16 78,770 26 T i e s 2,287,729 21 1,685,363 51 8602,365 70 H a i l s 1,235,485 80 1,143,192 3 5 92,293 45 O t h e r t r a ck m a t e r i a l 1,070,619 83 781,832 82 288,787 01 R o a d w a y a n d t rack 5,268,858 38 4,621,382 97 647,475 41 R e m o v a l of snow, sand a n d ice 165,614 18 402,538 06 236,923 88 T u n n e l s , .54,789 44 81,037 9 0 26,248 46 Bridges , t rest les a n d cu lver t s 1,214,497 55 806,158 86 408,338 69 O v e r a n d unde r grade crossings 102,926 41 124,165 79 21,239 38 G r a d e crossings, fences, cat t le guards a n d signs 273,090 59 226,055 28 47,035 31 S n o w a n d sand fences a n d snowsheds 2,242 59 2,292 56 49 97 S igna ls a n d i n t e r l o c k i n g p lan ts 1,288,819 09 1,338,012 11 49,193 02 Te legraph a n d telephone l ines 192,308 18 167,737 64 24,570 54 E l e c t r i c power t ransmiss ion 99,444 46 78,115 89 21,328 57 B u i l d i n g s , fixtures a n d grounds 2,495,879 65 2,002,890 48 492,989 17 D o c k s a n d w h a r v e s 139,395 63 104,565 29 34,830 34 R o a d w a y tools a n d suppl ies 206,316 64 166,516 0 5 39,800 59 Injur ies to persons 161,372 13 183,206 20 21,834 07 S t a t i one ry a n d p r i n t i n g 40,234 70 41,149 97 915 27 O t h e r expenses 12,087 80 11,765 86 321 94 M a i n t a i n i n g j o i n t t racks , y a r d s a n d other faci l i t ies-- D r . 371,732 49 272,416 94 99,315 55 M a i n t a i n i n g j o i n t t racks , y a r d s a n d other faci l i t ies-- C r . 899,249 28 848,058 54 51,190 74

T o t a l s 816,941,987 46 $14,649,065 28 $2,292,922 18

M A I N T E N A N C E O F E Q U I P M E N T

Super in tendence $560,851 85 $511,927 24 $48,924 61 S t e a m locomot ives—repa i r s 6,465,993 08 6,766,155 01 $300,161 93 S t e a m locomot ives—renewals 847,861 3 2 l

1,799,015 21 S t e a m locomot ives—deprec i a t ion 816,793 3 0 / 1,799,015 21 134,360 53

Elect r ic locomot ives—repa i r s 61,523 3_2^ 47,701 03 13,822 29 E l e c t r i c l ocomot ives—deprec i a t ion 34,394 59 / 34,394 59 Passenger- t ra in cars—repairs 1,873,712 5 l | / 1,920,889 84 47,177 33 Passenger- t ra in cars—renewals 289,769 4JJJ Passenger- t ra in cars—deprec ia t ion 294,560 7 5 ?

270,445 93 313,884 27

F r e i g h t - t r a i n cars—repairs 7,572,301 0 6 J 5,811,199 9 3 1,761,101 13 F r e i g h t - t r a i n cars—renewals 1,181,784

1,262,959 08 / 2,003,336 0 5 441,407 69

F r e i g h t - t r a i n ca rs—deprec ia t ion 1,181,784 1,262,959 08 /

2,003,336 0 5 441,407 69

E l e c t r i c equ ipmen t of cars—repai rs 18,298 92 19,133 21 834 29 E l e c t r i c e q u i p m e n t of ca r s—deprec ia t ion 40,390 39 40,390 39 W o r k equ ipmen t—repa i r s 194,693 30 155,946 11 38,747 19 W o r k equ ipment—renewals 205,897 461

68,622 47 / 250,450 24,069 W o r k equ ipmen t—deprec i a t i on

205,897 461 68,622 47 /

250,450 66 24,069 27

S h o p m a c h i n e r y a n d tools 558,079 38 522,358 2 9 35,721 09 P o w e r p l a n t e q u i p m e n t 33,460 85 112,442 10 78,981 2 5 In jur ies t o persons 147,458 99 173,428 35 25,969 36 S t a t i o n e r y a n d p r i n t i n g 61,709 46 52,745 23 8,964 2 3 O t h e r expenses 7,176 21 11,274 2 3 4,098 02 M a i n t a i n i n g jo in t e q u i p m e n t at. t e r m i n a l s — D r . 15 21 392 2 0 376 99 M a i n t a i n i n g j o i n t e q u i p m e n t at t e r m i n a l s — C r . 14,061 62 9,731 3 0 4,330 32

T o t a l s $22,584,246 05 $20,419,109 32 $2,165,136 73

* Reviaed: Ottawa 4 New York Railway tranaactiona eliminated

31


O P E R A T I N G E X P E N S E S I N D E T A I L (continued)


T R A F F I C E X P E N S E S

Super in tendence Ou t s ide agencies A d v e r t i s i n g Traff ic associat ion a Fas t freight l ines I n d u s t r i a l a n d i m m i g r a t i o n bu: S ta t ione ry a n d p r i n t i n g O t h e r expenses

T o t a l s

1913 1912* $478,328 31 $457,741 66

596,159 91 595,743 68 349,784 23 330,346 99

93,564 08 106,232 42 527,655 93 637,611 52

34,430 93 24,091 74 191,200 82 137,633 78

13,142 85 20,214 49

$20,586 65 416 23

19,437 24

10,339 19 53,567 04

$12,668 34 109,955 59

$2,284,267 06 $2,309,616 28

T R A N S P O R T A T I O N E X P E N S E S

Super in tendence 81,056,267 88 $985,567 95 870,699 93 D e s p a t c h i n g t ra ins 452,949 92 447,468 50 5,481 42 S t a t i o n employees 6,775,155 84 6,155,682 96 619,472 88 W e i g h i n g a n d car-service associations 3,216 34 2,211 80 1,004 54 C o a l a n d ore docks 47,664 15 51,687 06 $4,022 91 S t a t i o n supplies a n d expenses 754,606 90 690,478 09 64,128 81 Y a r d m a s t e r s a n d the i r clerks 744,722 34 671,725 40 72,996 94 Y a r d conductors a n d b rakemen 2,414,957 55 2,290.654 18 124,303 37 Y a r d swi tch a n d s igna l tenders 398,933 47 386,616 07 12,317 40 Y a r d supplies a n d expenses 100,596 79 87,513 79 13,083 00 Y a r d enginemen 1,790,726 87 1,655,085 78 135,641 09 Enginehouse expenses—yard 505,116 62 464,872 36 40,244 26 F u e l for y a r d locomot ives 1,448,506 12 1,342,519 61 105,986 51 W a t e r for y a r d locomot ives 92,905 20 97,141 13 4,235 93 L u b r i c a n t s for y a r d locomot ives 30,921 84 31,417 56 495 72 O t h e r supplies for y a r d locomot ives 26,798 35 27,322 19 523 84 O p e r a t i n g j o i n t y a r d s a n d t e r m i n a l s — D r . 338,436 82 377,592 26 39,155 44 O p e r a t i n g j o i n t y a r d s a n d t e r m i n a l s — C r . 1,123,900 21 952,391 34 171,508 87 M o t o r m e n 159,554 07 131,530 45 28,023 62 R o a d enginemen 4,955,085 08 4,793,649 93 161,435 15 Enginehouse expenses—road 1,698,009 16 1,620,518 36 77,490 80 F u e l for r o a d locomot ives 7,425,617 19 7,348,654 03 76,963 16 W a t e r for r o a d locomot ives 476,668 59 522,343 41 45,674 82

L u b r i c a n t s for road locomot ives 166,483 86 171,028 65 4,544 79 O t h e r supplies for r o a d locomot ives 168,417 29 155,581 24 12,836 05 O p e r a t i n g power p lan t s 325,835 65 257,166 84 68,668 81 Purchased power 4,893 40 5,109 14 215 74 R o a d t r a i n m e n 5,311,831 51 5,059,511 85 252,319 66 T r a i n suppnes a n d expenses 1,807,884 90 1,545,731 85 262,153 05 Inter loeker , b lock a n d other s igna l opera t ion 1,206,868 04 1,188,495 31 18,372 73 C r o s s i n g flagmen a n d ga temen 442,657 07 439,363 45 3,293 62 D r a w b r i d g e opera t ion 50,409 90 44,406 97 6,002 93 C l e a r i n g wrecks 167,005 59 161,581 64 5,423 95 T e l e g r a p h a n d te lephone opera t ion 127,061 36 111,978 12 15,083 24

Carried forward (40,352,865 45 $38,369,816 59

" Revised: Ottawa & New Yurk Railway transactions eliminated

32

Annual Report

O P E R A T I N G E X P E N S E S I N D E T A I L (concluded)


T R A N S P O R T A T I O N E X P E N S E S (concluded)

1913 1912* Increase Decrease

Brought forward $40,352,865 45 $38,369,816 59 S t a t i one ry a n d p r i n t i n g 349,155 88 344,824 00 $4,331 88 O t h e r expenses 99,853 81 98,813 91 1,039 90 L o s s a n d damage—fre ight 1,555,347 09 1,062,698 37 492,648 72 L o s s a n d damage—baggage 23,596 33 16,311 00 7,285 33 D a m a g e t o p rope r ty 143,255 88 217,628 42 $74,372 54 D a m a g e t o s tock o n r i gh t of w a y 14,763 38 36,430 56 21,667 18 In jur ies t o persons 846,183 59 .1,029,891 65 183,708 06 O p e r a t i n g j o i n t t r acks a n d f a c i l i t i e s — D r . 121,310 0 3 115,097 65 6,212 38 O p e r a t i n g j o i n t t r acks a n d f a c i l i t i e s — C r . 340,865 96 327,618 52 13,247 44

T o t a l s $43,165,465 48 840,963,893 63 $2,201,571 85

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

Salar ies a n d expenses of general oflicers $306,375 0 2 $275,326 76 $31,048 26 Salar ies a n d expenses of c lerks a n d a t t endan ts 1,414,536 43 1,252,429 69 162,106 74 G e n e r a l office suppl ies a n d expenses 166,354 54 163,611 76 2,742 78 L a w expenses 425,298 15 457,865 20 $32,567 11 Insurance 255,460 46 232,713 11 2 2 , 7 4 7 35 Pens ions 225,335 28 206,672 63 18,662 65 S t a t i one ry a n d p r i n t i n g 109,392 25 122,633 63 13,241 38 O t h e r expenses 102,585 89 115,742 81 13,156 92 G e n e r a l a d m i n i s t r a t i o n j o i n t t racks , y a r d s a n d ter-

m i n a l s — D r . 9,621 27 6,603 16 3,018 11 G e n e r a l a d m i n i s t r a t i o n jo in t t racks , y a r d s a n d ter-

m i n a l s — C r . 74,791 06 45,444 67 29,346 39 V a l u a t i o n expenses 15,906 69 15,906 69

T o t a l s 52,956,07-1 92 $2,788,154 14 $167,920 78

P E R C E N T A G E O F R A I L O P E R A T I N G E X P E N S E S T O R E V E N U E F R O M R A I L O P E R A T I O N S B Y G R O U P S

1913 1 9 1 2 ' M a i n t e n a n c e of w a y a n d s t ruc tures 14-49 13-36 M a i n t e n a n c e of equ ipmen t 19-32 18-61 Traff ic expenses 1-95 2 11 T r a n s p o r t a t i o n expenses 36-93 37-34 G e n e r a l expenses 2-53 2 5 4

T o t a l s 75-22 73-96

33


DETAIL OF AUXILIARY OPERATIONS

F E R R Y L I N E S Revenues Expenses

8001,151 34 623,373 14

$533,669 57 545,655 05

Increase i n earnings or decrease i n

cost

$67,481 77

H A R B O R T E R M I N A L T R A N S F E R S R e v e n u e s Expenses

$1,951,645 43 2,582.382 64

82,03(1.966 43 2,357,068 91

D I N I N G ANn S P E C I A L C A R S E R V I C E R e v e n u e s Expenses

$1,186,175 05 1,318,959 87

$1 ,074 ,£ 1,248,5

II 26 IS. 36

E L E C T R I C L I G H T A N P P O W E R P L A N T S R e v e n u e s E x p e n s e s

$285,090 73 133,802 42

S209.705 16 125.016 0 3

G A S P R O D U C I N G P L A N T R e v e n u e s Expenses

G R A I N E L E V A T O R S Revenues Expenses

S T O C K Y A R D S R e v e n u e s E x p e n s e s

$35,172 61 13,432 70

$21,739 91

$481,600 44 221,323 48

$260,276 96

1651,049 71 363,698 0.3

$33,552 OS 14,013 05

8056,392 50 355,014 88

$1,620 53 580 95

S T A T I O N R E S T A U R A N T S R e v e n u e s E x p e n s e s

F R E I G H T S T O R A G E P L A N T S Revenues Expenses

$444,018 59 391,275 2S

853.343 31

$143,540 82 77,289 83

$353,502 57 302,438 71

S184.191 79 86,736 79

D E M O N S T R A T I O N F A R M S Revenues E x p e n s e s

$3,014 6 7 * 3,676 7 9 *

G R A N D T O T A L S Revenues Expenses

85,780,345 32 5,725,537 41

S5.579.083 89 5,255,057 5 5

912: transferred to Physical Property account

34

Annual Report

TAXES ACCRUED

O N CAPITAL STOCK Slate of New York

New York Central & Hudson River Railroad Co New York & Harlem Railroad Co Boston & Albany Railroad Co Geneva Corning or Southern Railroad Co West Shore Railroad Co Hudson River Bridge Co St Lawrence & Adirondack Railway Co Wallkill Valley Railroad Co Troy & Greenbush Railroad Association New York & Ottawa Railway Co Cornwall Bridge Co Dolgeville & Salisbury Railway Co Tonawanda Island Bridge Co New York & Ottawa Bridge Co

Commonwealth of Massachusetts Boston & Albany Railroad Co and its leased lines

Commonwealth of Pennsylvania Beech Creek Railroad Co Geneva Corning & Southern Railroad Co Beech Creek Extension Railroad Co New York Central & Hudson River Railroad Co Gallitzin Coal & Coke Co

$312,203 47 24,940 38 7,350 00 6,341 44 6,280 05 1,458 47

614 33 550 32 481 25 189 00 187 50 112 50 42 72

1 50

830,000 00 22,500 00 2,320 00

525 00 5 00

8360,752 93

154,253 75

Stale of New Jersey New York & Ottawa Bridge Co and Cornwall Bridge Co

O N B O N D E D D E B T OF L E A S E D L I N E S O N GROSS EARNINGS O N R E A L E S T A T E (including leased lines) O N SPECIAL FRANCHISES (including leased lines) CANADIAN PROVINCIAL RAILROAD COMMISSIONERS' ASSESSMENTS (Massachusetts) F E D E R A L G O V E R N M E N T INCOME T A X C O U N T Y T A X ON N E W M O R T G A G E

Total railway taxes accrued M I S C E L L A N E O U S T A X A C C R U A L S

On income from securities owned On physical property held as investment

$19,267 00 18,853 61

252 00

4,334 52 186,147 83

4,072,704 4.5 533,465 90

2,557 43 3,848 38

147,306 72 835,512 00

$6,356,545 91

Total of all taxes

DIVIDENDS

Payable April 15, 1913, 1J£% on 2,227,293 shares of capital stock $2,784,116 25 Payable July 15, 1913, 1 J 4 % " 2,255,701 " " " • 2,819,620 25 Payable October 15, 1913, \ % % " 2,255,709 " " " " 2,819,636 25 Payable January 15, 1914, 1%% " 2,255,714 " " " " 2,819,642 50

Total 5 % $11,243,021 25

35


DEDUCTIONS FROM INCOME

Interest on bonds

Interest at 3 J % on C o l d mor tgage bonds $3,290,000 00 Interest a t 3 1 % o n L u k e Shore co l l a te ra l bonds 3,170,244 00 Interest a t 3 } % o n M i c h i g a n C e n t r a l co l l a te ra l bonds 676,761 31 Interest at 3 } % o n Deben tu re of 1900 192,500 00 Interest a t 4 % o n G o l d debentures of 1904 1,920,000 00

Interest a t 4 % o n G o l d debentures of 1912 • 367,452 45 Interest at 3 J % o n G o l d mor tgage bonds o n S p u y t e n D u y v i l & P o r t M o r r i s R a i l r o a d 87,500 00

T h e fo l lowing bonds were assumed as funded debt ob l iga t ions under the terms of the merger

of M a r c h 7, 1913, a n d the conso l ida t ion o n A p r i l 16, 1913:

A d i r o n d a c k R a i l w a y C o 35,956 99 hage W a t e r t o w n & Sacke ts H a r b o r R a i l r o a d C o 10,625 00 & Oswegatch ie R a i l r o a d C o 12,258 06

F i r s t mor tgage b o n d s — L i t t l e F a l l s & D o l g e v i l l e R a i l r o a d C o ' 5,312 50 F i r s t mor tgage b o n d s — M o h a w k & M a l o n e R a i l w a y C o 81,720 44 C o n s o l i d a t e d mor tgage b o n d s — M o h a w k & M a l o n e R a i l w a y C o 111,548 39

F i r s t consol ida ted mortgage b o n d s — N e w Y o r k & P u t n a m R a i l r o a d C o 130,429 89 F i r s t mor tgage b o n d s — N e w Y o r k & N o r t h e r n R a i l r o a d C o 49,032 25 F i r s t mor tgage bonds—Oswego & R o m e R a i l r o a d C o 17,354 16

Second mortgage bonds—Oswego & R o m e R a i l r o a d C o 14,089 59 F i r s t consol ida ted mortgage b o n d s — R o m e W a t e r t o w n & Ogdensburg R a i l r o a d C o 321,441 66 F i r s t consol ida ted mortgage b o n d s — R o m e W a t e r t o w n & Ogdensburg R a i l r o a d C o 11,871 67 F i r s t consol ida ted mor tgage b o n d s — R o m e W a t e r t o w n & Ogdensburg R a i l r o a d C o 12,395 83 F i r s t mor tgage b o n d s — R o m e W a t e r t o w n & Ogdensbu rg T e r m i n a l R a i l r o a d C o * 13,281 25

F i r s t mor tgage bonds—Oswego R a i l r o a d B r i d g e C o 4,250 00 F i r s t mor tgage b o n d s — N o r w o o d & M o n t r e a l R a i l r o a d C o 4,604 16 F i r s t mor tgage bonds—Syracuse P h i e n i x & Oswego R a i l r o a d C o 7,437 50 F i r s t mor tgage b u n d s — I ' t i c a & B l a c k R i v e r R a i l r o a d C o 55,250 00

T o t a l $10,603,317 10

Interest at 4 % o n Interest at 5 % o n Interest a t 5 % o n Interest at 3 % o n Interest a t 4 % o n Interest a t 3 J % o n Interest a t 4 % o n Interest a t 5 % o n Interest a t 7 % o n Interest a t 5 % o n Interest a t 5 % o n Interest a t 4 % o n Interest a t 3 1 % o n Interest a t 5 % o n Interest. a t 6 % o n Interest a t s % o n Interest a t 6 % r>n Interest a t •t '"< o n

Miscellaneous obligations

In teres t at 4 J % o n three year go ld notes of 1911 $1,350,000 00

Interest at 4 ! % o n three y e a r gold notes o f 1912 900,000 00 Interest o n e q u i p m e n t t rus t certificates of 1907, 1910, 1912 a n d 1913 1,347,411 57 Interest on loans , notes and b i l l s p a y a b l e 1,111,041 OS Interest o n r ea l estate mortgages 59,791 67 O n account of S t L a w r e n c e & A d i r o n d a c k R a i l w a y C o :

R e n t a l of leased l ine 10,000 00

T o t a l $4,778,244 32

Rentals of leased lines

B E E C H C H E E K R A I L R O A O

Interest a t 4 % o n $5,000,000 F i r s t mor tgage bonds $200,000 00

Interest a t 5 % o n $1,000,000 Second mor tgage bonds 50,000 00 D i v i d e n d at 4 % o n 120,000 shares of c a p i t a l s tock ($50 per share) 240,000 00

B E E C H C R E E K E X T E N S I O N R A I L R O A D

Interest at 3 J % o n $3,500,000 F i r s t mor tgage bonds $122,500 00 Interest at 4 % o n $3,964,000 C o n s o l i d a t e d mortgage go ld bonds 158,560 00

Carried forward $771,060 00

36

Annual Report

D E D U C T I O N S F R O M I N C O M E (continued)

Rentals of leased lines (continued)

Brought forward

D U N K I R K A L L E G H E N Y V A L L E Y A N D P I T T S B U R G H R A I L R O A D

Interest at 4 J % o n $2,900,000 F i r s t mor tgage bonds $130,500 00

D i v i d e n d at 1 1 % on 13,000 shares of c a p i t a l s tock 19,500 00 O r g a n i z a t i o n expenses 500 00

G E N E V A C O R N I N G A N D S O U T H E R N R A I L R O A D

Interest at 6 % o n $3,500,000 P i n e Creek F i r s t mor tgage bonds $210,000 00 D i v i d e n d at 31% o n 23,250 shares of c o m m o n c a p i t a l s tock 81,375 0!) D i v i d e n d at 4 % on 50,000 shares of preferred c a p i t a l s tock 200,000 00

N E W J E R S E Y J U N C T I O N R A I L R O A D

Interest at 4 % o n $1,700,000 F i r s t mor tgage bonds

N E W Y O R K A N D H A R L E M R A I L R O A D

Interest at 3 1 % o n $12,000,000 G o l d mortgage bonds $420,000 00 D i v i d e n d at 1 0 % on 200,000 shares of c a p i t a l s tock ($50 per share) 1,000,000 Ol)

T R O Y A N D G R E E N B U S H R A I L R O A D

R e n t a l at 7 % on 5,500 shares of cap i t a l s tock ($50 per share)

W A L L K I L L V A L L E Y R A I L R O A D

Interest at % \ % o n $250,000 F i r s t mortgage b.onds for s ix mon ths $4,375 00 Interest at 31% o n $330,000 Second mortgage bonds for e ight mon ths 7,700 00 D i v i d e n d at 31% o n 3,300 shares of c a p i t a l s tock 11,550 00

W E S T S H O R E R A I L R O A D

Interest at 4 % o n $50,000,000 F i r s t mor tgage bonds 2,000,000 00

B O S T O N A N D A L B A N Y R A I L R O A D

C a s h r en ta l $2,000,000 00

Interest a t 3 J % o n $3,858,000 R e f u n d i n g bonds of 1902 135,030 00 Interest a t 4 % o n $3,627,000 bonds of 1893 (for n ine months ) 108,810 00 Interest a t 5 % o n $3,627,000 R e f u n d i n g bonds of 1913 f r o m O c t o b e r 1, 1913 45,337 50 Interest a t 3 1 % o n $1,000,000 T e r m i n a l bonds 35,000 00 Interest a t 4 % o n $7,000,000 I m p r o v e m e n t bonds of 190S ^ 280,000 00 Interest a t 4 % o n $4,500,000 I m p r o v e m e n t bonds of 1909 180,000 00 Interest a t 4 % o n $2,000,000 I m p r o v e m e n t bonds of 1910 80,000 00

Interest a t 4 1 % o n $1,000,000 I m p r o v e m e n t bonds of 1912 45,000 00 Interest a t 5 % o n $2,015,000 I m p r o v e m e n t bonds of 1913 f rom J u l y 14, 1913 46,736 81 O r g a n i z a t i o n expenses 10,000 00 R e n t a l of P i t t s f i e ld & N o r t h A d a m s R a i l r o a d

D i v i d e n d a t 5 % o n 4,500 shares of c a p i t a l s tock $22,500 00

O r g a n i z a t i o n expenses 108 63 22,608 93

R e n t a l of W a r e R i v e r R a i l r o a d D i v i d e n d a t 7 % on 7,500 shares of c a p i t a l s tock $52,500 00 O r g a n i z a t i o n expenses 75 00 52,575 00

C a s h r e n t a l of N o r t h B r o o k f i e l d R a i l r o a d 3,000 00 R e n t a l of P r o v i d e n c e W e b s t e r & Spr ingf ie ld R a i l r o a d

2 5 % of gross earnings for year ended D e c e m b e r 31 , 1913 10,382 97 3,054,481 21


37


D E D U C T I O N S F R O M I N C O M E (concluded).

Rentals of leased lines (concluded)

Brought forward

T h e fo l lowing roads were merged M a r c h 7, 1913:

CARTHAGE AND ADIRONDACK RAILWAY

Interest a t 4 % on S I , 100,000 F i r s t mor tgage bonds

GOUVERNEOR AND OSWEGATCHIE J Interest at 5 % o n $300,000 F i r s t mor tgage b

MOHAWK AND MA LONE RAILWAY

Interest at 4 % o n $2,500,000 F i r s t mor tgage gold bonds Interest at Z\% o n $3,900,000 Conso l ida t ed mortgage bone D i v i d e n d at 4 % on 50,000 shares of cap i t a l s tock

$18,279 56 24,951 61 33,333 34

NEW YORK AND PUTNAM I

Interest at 5 % o n $1,200,000 N e w Y o r k & N o r t h e r n F i r s t mor tgage bonds $10,967 75 Interest at 4 % o n $4,025,000 N e w Y o r k & P u t n a m F i r s t consol ida ted mortgage bonds 29,430 11

SPUYTEN DUYVIL AND PORT MORRIS I

D i v i d e n d at 8 % o n 9,890 shares of cap i t a l s tock

T h e fo l lowing roads were consol ida ted A p r i l 16, 1913:

ROME WATERTOWN AND OGDENSBTJRG HA]

Organ i za t i on expenses Interest a t 5 % o n $9,076,000 I t W & O F i r s t consol ida ted mortgage bonds Interest at 4 % o n $419,000 R W & O F i r s t consol idated mortgage bonds Interest a t Z\% o n $500,000 R W & O F i r s t consol idated mortgage bonds Interest at 5 % o n $375,000 R W & O T e r m i n a l bonds Interest at 6 % o n $100,000 Oswego R a i l r o a d B r i d g e bonds Interest at 6 % o n $175,000 Syracuse Phcenix & Oswego bond3 Interest at 5 % o n $130,000 N o r w o o d & M o n t r e a l bonds D i v i d e n d a t 5 % o n 100,000 shares of c a p i t a l s tock

$5,250 00 132,358 34

4,888 33 5,104 17 5,468 75 1,750 00 3,062 50 1,895 84

145,833 33

OSWEGO & HOME RAILROAD

Interest at 7 % o n $350,000 F i r s t mor tgage bonds Interest at 5 % o n $400,000 Second mortgage bonds

S7,145 84 5.822 92

O T I C A & B L A C K RIVER RAILROAD

O r g a n i z a t i o n expenses Interest a t 4 % o n $1,950,000 F i r s t mor tgage bonds D i v i d e n d a t 7 % o n 11,030 shares of c a p i t a l s tock

$1,125 00 22,750 00 22,734 05

CAHTHAGE WATERTOWN & BACKETS HARBOR RAILROAD

3 7 3 % of gross earnings for per iod ended A p r i l 16, 1913

T o t a l rentals of leased lines

3 S

Annual Report

TABLE OF TRACKS

M A I N LINE OWNED Second Third Fourth N e w Y o r k C e n t r a l & H u d s o n From To Miles track track track* Sidings Total

R i v e r R a i l r o a d N e w Y o r k Buffalo — 433-60 433-60 352 29 366-70 877-89 2,464 08

B R A N C H E S O W N E D

3 0 t h St ree t B r a n c h St John ' s P a r k S p u y t e n D l i y v i l * 12-37 12-37 62-78 87-52 P u t n a m B r a n c h 155th Street , N Y P u t n a m J e t - — 53-73 8-75 22-62 8 5 1 0 Y o n k e r a B r a n c h V a n C o r t l a n d t Y o n k e r s - * 3 1 0 3 1 0 •20 6-40 Maliop.-n: F a l l s B r a n c h B a l d w i n P lace M a h o p a c F a l l s . ' 2 0 5 •26 2-31 T i v o l i H o l l o w B r a n c h W e s t A l b a n y A l b a n y ^ 1-24 1-09 2-33 Schenec tady D e t o u r B r a n c h H o f f m a n ' s Connec t ion B r a n c h

C a r m a n So Schenec tady 4-65 4-65 •82 1 0 1 2 Schenec tady D e t o u r B r a n c h H o f f m a n ' s Connec t ion B r a n c h Hoffman ' s R o t t e r d a m J e t 2-50 2-19 1-42 6 1 1 T r o y a n d Schenec tady B r a n d t Schenec tady T r o y — 20-91 14-83 35 74 D o l g e v i l l e B r a n c h L i t t l e F a l l s D o l g e v i l l e — 1 0 0 8 1-50 11-58 A d i r o n d a c k B r a n c h H e r k i m e r M a l o n e J e t — - 1 7 3 - 3 3 4 9 6 3 222-90 H i n c k l e y B r a n c h Prospec t J u n c t i o n H i n c k l e y - — - 2-93 3-20 6-13 Saranac B r a n c h L a k e C l e a r Je t Saranac L a k e f 5-89 1-49 7-38 O t t a w a B r a n c h T u p p e r L a k e N y a n d o ^ — 69-27 8 0 0 77-27 0 E d e n s b u r g B r a n c h U t i c a ••u'lonsl nirc; • l o l . i l 1 0 0 2 72-66 216-99 C l a y t o n B r a n c h K ivergate C l a y t o n . 15-85 3-98 19-83 R o m e B r a n c h R o m e R i c h l a n d 41-28 30-76 72-04 W a t e r t O w n B r a n c h Syracuse M a s s e n a Spr ings 160 95 52-91 113-15 3 2 7 0 1 C a p e V i n c e n t B r a n c h W a t e r t o w n Je t C a p e V i n c e n t 24-10 18-28 42-38 Sanfords B r a n c h M a i n S t , W a t e r t o w n R o o t s r 5-21 5 0 4 10-25 D o K a l b B r a n c h D e K a l b J u n c t i o n Ogdensburg - 18-89 2-49 21-38 Oswegn tch ic B r a n c h G o u v e r n e u r & 0 Je t E d w a r d s 13-07 4 0 9 1 7 1 6 Rackets H a r b o r B r a n c h W a t e r t o w n Je t Sackets H a r b o r - 1 1 - 4 3 3 1 5 14-58 C a r t h a g e B r a n c h W a t e r t o w n N e w t o n F a l l s 63-39 26-57 89-96 Phcenix B r a n c h W o o d a r d F u l t o n — 17-10 0-21 3-73 21-04 O n t a r i o B r a n c h P u l a s k i Suspension Br idge - — 175-27 3-47 90-55 269-29 Syracuse J u n c t i o n B r a n c h E a s t Syracuse Syracuse Je t 8-31 8-31 6-27 7-62 30-51 A u b u r n B r a n c h Syracuse Roches te r A 96-29 59-99 156-28 L y o n s B r a n c h L y o n s G e n e v a — 14-08 12-67 - 27-07 53-82 C a n a n d a i g u a B r a n c h C a n a n d a i g u a B a t a v i a - 50-36 1 3 1 1 63-47 T o n a w a n d a B r a n c h B a t a v i a N o T o n a w a n d a - 35-44 1-66 9-70 46-80 C h a r l o t t e B r a n c h J a y S t Jet , Roches t e r O n t a r i o B e a c h - — 7-43 6-92 10-97 25-32 A t t i c a B r a n c h B a t a v i a A t t i c a - 10-67 1-32 11-99 Roches t e r B r a n c h W i n d s o r B e a c h Roches te r - 7-27 3-49 10-76 F a l l s B r a n c h A m e s S t Je t , R o c l i Suspension B r i d g e 74 05 54-12 104-78 2 3 2 9 5 L o c k p o r t B r a n c h N o r t h T o n a w a n d a L o c k p o r t J e t - — 1 1 1 7 4-92 1609 . Buf fa lo B e l t B r a n c h W i l l i a m St ree t N o r t h Buffa lo Je t — - 7-23 7-22 27-65 42-10 N i a g a r a B r a n c h Buffa lo L e w i s ton ^ — 28-86 23-09 65-56 117-51

T o t a l branches own 3(1 1,394-06 211-66 6-27 878-47 2-490-46

T o t a l m a i n l ine a n d branches , 1,827-66 . 645-26 J 358-56 . 366-70 1,756-36 4,954-54

P R O P R I E T A R Y L I N E

C o r n w a l l B r i d g e C o m p a n y N y a n d o to I n t e r n a t i o n a l B o u n d a r y -IS -18

L E A S E D L I N E S Mainline Branches Beech Creek R a i l r o a d 112-31 52-20— 164-51 J 11-52 154-S4 330-87 B e e c h Creek E x t e n s i o n R a i l r o a d f 108-34 28-27T~ 136-611 3-91 60-78 201 -30 B o s t o n & A l b a n y R a i l r o a d 199-34 104-58— 303-92 219-03 83-23 24-59 366 25 9971)2

N o r t h B r u o k i i c M R a i l r o a d 4 0 0 > 4 0 0 1-23 5-23 W a r e R i v e r R a i l r o a d 49-35 49-35 7-91 57-20 P i t t s f i e ld A: N o r t h A d a m s R a i l r o a d 1S-56 — - 18-56 19-41 37-97 P r o v i d e n c e Webs te r & Spr ingf ie ld R a i l r o a d 11-23 11-23 1 4 0 4 15-27 Ches te r & B e c k c t R a i l r o a d 5-27 ' 5-27 1-17 6 4 4

G e n e v a C o r n i n g cc Sou the rn R a i l r o a d 166-91 6 4 - 7 5 ^ - 2 3 1 - 6 6 - ' 105-82 145-48 482-96 N e w Jersey .Inert inn R a i l r o a d 4-44 • 3 4 — 4-781 4-34 5-74 14-86 N e w Y o r k & H a r l e m R a i l r o a d 127-45 9 0 5 — 136 501 56 34 12-55 12-55 127-15 3-15-09 T r o v & Greenh t i sh R a i l r o a d 5-56 - 5 - 5 6 » 5-56 1 2 1 0 23-22 W a i l k i l l V a l l e y R a i l r o a d 32-88 : t2-ss- 7-70 40-58 W e s t Shore R a i l r o a d 423-67 55-44-—479 1 1 * 423-63 15-36 454-72 1,37282

T o t a l leased l ines t l , 583-94 830-15 1 1 1 1 4 3 7 1 4 1,368-52 3,930-89

• 4!)8 miles itr fifth track on the Hudson-electric division 827 miles is fifth track on the Mohawk division 1 22 miles is fifth track on the Western division 3 mili-a is uiith track on the llud-jon-electric division

t 3 08 was added December 27, 1013. but i l not included in operation!

http://lol.il

39


T A B L E OF TRACKS—(concluded)

D o l g e v i l l e & S a l i s b u r y R a i l w a y S t L a w r e n c e <fc A d i r o n d a c k R a i l w a y T e r m i n a l R a i l w a y of Buf fa lo

T o t a l opera ted under cont rac t

TRACKAGE RIGHTS I n Buf fa lo C lea r f i e ld to C u r w e n s v i l l e A d i r o n d a c k J e t t o M o n t r e a l C h e r r y T r e e t o D i x o n v i l l e A l b a n y t o T r o y K e n w o o d J u n c t i o n t o A l b a n y B l o s s b u r g to M o r r i s R u n L a w r e n c e v i l l e t o B l o s s b u r g M o n t g o m e r y to C a m p b e l l H a l l F u l t o n to Oswego M c E l h a t t a n t o K e a t i n g M a h a f f e y t o P a t t o n M a i n l ine t o s u n d r y mines M c G e e s J e t t o R o s s i t e r Je t I r v o n a t o A m s b r y N e w b e r r y J e t to W i l h a m s p o r t N o r w o o d to M a l o n e J u n c t i o n A t M o i r a I n T r o y S o u t h S t a t i o n , B o s t o n A t A t h o l S t a t i o n

T o t a l t rackage r ights

T o t a l mi leage opera ted

Second Third Fourth TRACT Miles track track track* Sidings Total

D o l g e v i l l e to I ronda le 3-89 •50 4-39 M a l o n e Je t to A d i r o n d a c k Je t — 56-37 20-70 7 7 0 7 D e p e w t o B l a s d e l l ' ~ 1 1 0 2 11-02 57-85 79-89

i t r a c t 71-28 1 1-1)2 79-05 161-35

Buffa lo Creek R R C o 3-56 3-48 •95 7-99 Buff K o c h & P i t t s R R C o -y 6-41 6-41 C a n a d i a n P a c i f i c R y C o " " ^ 8'80 8-80 C h e r r y T r e e «fc D i x o n v i l l e R R C o •*> 38-95 38-95 De l aware & H u d s o n C o '7-34 7-34 14-68

" " " 1-71 •70 2-41 E r i e R a i l r o a d C o 3 5s 3 5 8

" " " - 25-50 25 50 u a a . 4-78 4-78

N Y O n t a r i o & Wes te rn R y C o • 12-23 12-23 P e n n s y l v a n i a R a i l r o a d C o ^ 4 5 0 1 4 5 0 1 90 02

" " " - ^ 2 0 - 8 5 20-85 « a a 19-31 19-31 u a a 1 1 1 8 1 1 1 8 u a a 20-30 20-3(1

P h i l a d e l p h i a A R e a d i n g R y C o 3-71 3-71 7-42 R u t l a n d R a i l r o a d C o 3 7 1 0 3 7 1 0

" " 11 15 •15 T r o y U n i o n R a i l r o a d C o 2 0 3 2 00 4-03 B o s t o n T e r m i n a l C o •45 •45

19 B o s t o n & M a i n e R R C o -19 •45 19

273-14 62-24 •95 336-33

13,756 20 1, 548-67 • 470-65 403-84 3,203-93 9 383-29

Gauge of t rack , 4 feet 8J-£ inches. W e i g h t of r a i l per y a r d , 56 to 141 pounds .

RECAPITULATION ACCORDING TO STATES

N e w Y o r k N e w Jersey P e n n s y l v a n i a Massachuse t t s P r o v i n c e of Quebec

T o t a l s

1,827-66 4,951-51

Proprietary Lei 1st track All tracks 1st track All ti

0-18

cks roues miles 769-31 2,022-33

23*61 163 14 453-90f 787-27 337 12 958-15

0-18 l , 583 -94 t 3,930-89

Otherwise operated All ti

Total ack Allti

94 06 1 S 7 0 2

• 194-80 243-52 -94 -64

54-92 66-50

344-42 497-68 3,756 20 9,3S3"29

cks miles miles

2,691-21 7,164 07 23-61 163 14

648-70 1,030-79 337-76 958-79

54-92 66-50

8-27 r 1-22 r 303 i

t30S v

les is fifth track on the Hudson-elcd les is fifth track on the Mohawk div les is fifth track on the Western divi les is sixth track on the Hudson-elec s added December 27, 1013, but is

40

Annual Report 0

EQUIPMENT IN SERVICE

( I N C L U D I N G E Q U I P M E N T O F L E A S E D L I N E S )

Locomotives Dec. 31 I N C R E A S E

Number Chanae of D E C R E A S E

Number Change of Dec. 31 1912 added claw retired class 1913

F o r passenger serv ice 471 1 - 16 - 456

E l e c t r i c l o c o m o t i v e s 35 10 - - - 45

F o r f re ight se rv ice 958 51 - 79 - 930

F o r s w i t c h i n g serv ice 297 - - 23 2 272

D u m m y engines 9 - 2 2 - 9

I n s p e c t i o n engines 7 - - 7

T o t a l s 1,777 62 2 120 2 1,719

__ . V

Cars in passenger service

Passenger coaches 763 4 - 15 42 7 1 0 Passenger coaches, s tee l 49 - - - 30 19 Passenger coaches, s teel undcr f rame 99 - 1 - 100 E l e c t r i c m o t o r passenger coaches, s teel 87 19 30 - - 136 C l u b or c h a i r cars i n subu rban serv ice 4 - - - - 4 S m o k i n g cars 206 - 1 - 13 194

S m o k i n g cars, s tee l undc r f r ame - - 6 - - 6 E l e c t r i c m o t o r s m o k i n g cars, s teel 38 - - 38 C o m b i n a t i o n passenger a n d baggage cars 121 2 - 2 5 116

C o m b i n a t i o n passenger a n d baggage cars, s tee l 1 29 - - - 30 E l e c t r i c m o t o r c o m b i n a t i o n passenger a n d baggage cars, s teel 6 6 - - - 12

C o m b i n a t i o n passenger a n d baggage cars, s teel undc r f r ame 14 - 4 - - 18 C o m b i n a t i o n passenger, baggage a n d m a i l cars 8 - - - 2 6 C o m b i n a t i o n passenger, baggage a n d m a i l cars, s teel underf rame 2 - 2 - ' - 4 I m m i g r a n t a n d excurs ion cars 25 - - - 3 22

D i n i n g cars 14 - - 2 8 4 D i n i n g cars, s tee l 5 - - - - 5 D i n i n g cars , s teel under f rame 14 - 8 - - 22 Cafe d i n i n g coaches 11 - - - 3 8 Cafe d i n i n g coaches, steel underf rame 2 - 3 - - 5 Buf f e t ca rs 5 - - - 4 1 Buf fe t cars, s teel 9 - - - - 9 Buf f e t cars, steel undc r f r ame 5 - 3 - - 8 C a f e car 1 - - - 1 -M a i l cars 37 - - - 6 31 M a i l cars , s teel 25 - - - - 25 M a i l ears, s teel underf rame 12 - 6 - - 18 M a i l a n d baggage cars 24 - - 6 I S M a i l a n d baggage cars, s teel under f rame 21 - 7 - - 28 Baggage a n d express cars 335 2 - 11 21 305 Baggage a n d express cars, s teel 71 6 - - - 77 Baggage a n d express cars, steel underf rame 1 - - - 1 -E l e c t r i c m o t o r , m a i l , express a n d baggage cars, s teel 6 - - - - 6 Ref r ige ra to r express cars, s teel underf rame - 85 - - - 85 S p e c i a l horse cars 42 - - . - - 42 M i l k cars 226 1 8 - - 234

T o t a l s 2,289 ^ 161 71 30 145 2,346

41


E Q U I P M E N T I N S E R V I C E (continued)

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

Cars in freight service Dec. 31 1912

Change of Numbei ' Change of Dec. 31 1913

B o x cars 23,921 1 3 1,383 2,581 19,961 B o x cars, Bteel under f rame 5,011 - 2,247 15 4 7,239

B o x car , eteel - 1 - - - 1 B o x a u t o m o b i l e cars, stool underf rame 1,987 - - 2 - 1,985 B o x p r o d u c e cars 780 - - 2 123 055 B o x p roduce cars, s teel underf rame 501 - 123 - - 624 Ref r ige ra to r ears 13 2,481 - 30 391 2,073 Ref r ige ra to r cars , s teel underf rame - 1,834 391 - - 2,225 F l a t cars 2,930 1 8 225 38 2,676 F l a t cars, s teel underf rame 645 - 2 17 626 S t o c k cars 714 - - 86 - 628 C o a l a n d coke cars 15,308 - 2 823 1,642 12,845

C o a l , s tee l 3,597 - - 2 - 3,595 C o a l , s tee l under f rame 1,881 - 1,251 6 2 3,124 C a b o o s e cars 929 1 18 32 13 903 C a b o o s e cars, steel underf rame 25 86 12 1 - 122

T o t a l s 58,242 V 4,405 4,055 2,609 4,811 59,282

Equipment in Company's service Officers ' c a r 1 - - - - 1 Officers ' car , s teel 1 - - - 1 Officers' cars, steel underf rame 10 - - - - 10 P a y cars 6 - - - - 6 I n s t r u c t i o n a n d tes t ing cars 13 1 - - - 14 B a l l a s t cars 779 - - 4 - 775 D e r r i c k cars 55 - 4 7 - 52

S t e a m w r e c k i n g cranes 26 2 - - - 28 S n o w p l o w s a n d Hangers 131 2 - 2 - 131 C i n d e r cars 1,205 - 359 398 - 1,166 B o x cars 1,531 2 326 190 - 1,669 F l a t cars 156 2 33 46 9 136 C o a l cars 97 - 32 14 - 115 P u s h a n d p o l i n g cars 14 8 1 - 21 G a s a n d o i l t r anspor t cars 44 - 1 1 - 44 O t h e r r o a d cars 473 3 77 35 1 517

T o t a l s 4,542 12 840 698 10 4,686

F l o a t i n g pi le d r i v e r s for r o a d depa r tmen t 3 - - 3

Marine department Dec. 31 1912 Added Retired

Dec. 31 1913 Capacity

Average capacity

F e r r y boats , s ide-wheel , s ingle deck 5 - - 5 F e r r y boats , screw, d o u b l e deck 5 - - 5 T u g s , s teel 21 1 2 20 S team-l igh te rs , w o o d Steam-l ighters , s teel

4 5

1 !,650 tons 331 tons

S t e a m hois t ing-barges 10 - - 10 I 1,450 " 445 " H a n d hois t ing-barges 25 - - 25 • 1,800 " 192 " C o v e r e d barges 112 19 4 127 31,450 " 248 " O p e n deck scows 6 - - 6 : 1,300 " 550 " G r a i n boats 35 - - 35 19,080 " 545 " C a r floats 49 4 1 52 686 cars 13-2 cars

T o t a l s 277 24 8 293

42

Annual Report

E Q U I P M E N T I N S E R V I C E (concluded)

.EASED UNDER EQUIPMENT TRUSTS

INC! IEASE DECREASE

Locomotives Dec. 31 1912

Number added

Change of NlllllhiT Change of Dee. 31 1913

F o r passenger service 179 34 - - 213 E l e c t r i c locomot ives 12 - - - - 12 F o r f reight Bervice 350 88 - - - 438 F o r sw i t ch ing service 88 57 145

T o t a l s 629 179 _ _ _ 808 Cars in passenger service

Passenger coaches 54 - - - - 54 Passenger coaches, steel 50 60 - - - 110 S m o k i n g cars, steel 20 - - - - 20 C o m b i n a t i o n passenger a n d baggage cars 3 - - - 3 C o m b i n a t i o n passenger, baggage a n d m a i l cars 1 - - - - 1 M a i l cars, steel 11 8 - - - 19 M a i l a n d baggage cars 31 - _ - - 31 M a i l a n d baggage cars, steel 10 - - - -. 10 Buf fe t cars 2 - - - 1 1 Buffe t car, steel underframe - - 1 - - 1 Cafe d i n i n g coaches 2 - - - - 2 D i n i n g cars 2 - - - 2 -D i n i n g cars, steel - 5 - - - 5 D i n i n g cars, steel underframe 3 - 2 5

T o t a l s 189 73 3 _ 3 262 Cars in freight service

B o x care 1,969 - - 9 - 1,960 B o x cars, steel underframe 6,157 3,847 - 16 - 9,988 B o x a u t o m o b i l e cars, steel underframe 998 1 - 2 - 997 F l a t cars, steel underframe 1,497 400 - - - 1,897 C o a l cars, s teel 3,732 1,117 - - - 4,849 C o a l cars, steel underframe 52 748 - - - 800 Caboose cars 24 1 - 23

T o t a l s 14,429 6,113 _ 28 _ 20,514 Equipment in Company's service

B a l l a s t cars, steel underframe 150 100 ' _ - : 250

SUMMARY OF EQUIPMENT IN SERVICE

INCREASE DECREASE Dec. 31 Number Change of Number Cl.ar.ge o! : Dee. 31

1912 lidded clasa 1913 S t e a m locomot ives 2,359 231 2 120 2 2,470 E l e c t r i c l ocomot ives 47 10 - - - 57 E l e c t r i c m o t o r passenger-train cars, s teel 137 25 30 - - 192 Passenger- t ra in cars, w o o d t 1,917 16 1 30 117 1,787

steel 251 10S - - 30 329 steel underf rame 173 85 43 - 1 300

Freight - train cars, wood 46,588 2,484 31 2,591 4,788 41,724 steel 7,329 1,118 - 2 - 8,445 steel underf rame 18,754 6,916 4,024 44 23 29,627

C o m p a n y service cars, wood 4,294 9 822 698 10 4,417 steel 80 2 1 - - 83 steel underframe 318 101 17 - - 436

F l o a t i n g p i l e d r i v e r s for road depa r tmen t 3 - - - 3 Vessels i n M a r i n e depa r tmen t freight service 267 24 - 8 - 283

fer ry service 10 - - - - 10

http://Cl.ar.ge

43


MILEAGE STATISTICS

L O C O M O T I V E M I L E A G E R E V E N U E S E R V I C E

Freight locomotive-miles—steam Freight locomotive-miles—electric Passenger locomotive-miles—steam Passenger locomotive-miles—electric Mixed locomotive-miles—steam Special locomotive-miles—steam Special locomotive-miles—electric Switching locomotive-miles—steam Switching locomotive-miles—electric

1913 26,014,120

18,974 27,325,216

790,832 339,561

16,772 2,080

15,563,435 683,210

1912> 25,640,859

18,691 26,790,227

589,392 311,379 36,949 3,329

15,367,151 655,780

Increase 373,261

283 534,989 201,440 28,182

196,284 27,430

Decrease

20,177 1,249

Total revenue locomotive-miles—steam 69,259,104 Total revenue locomotive-miles—electric 1,495,096

68,146,565 1,267,192

1,112,539 227,904

Non-revenue locomotive-miles—steam Non-revenue locomotive-miles—electric

3,336,663 63,408

3,262,119 83,287

74,544 19,879

Total locomotive-miles—steam Total locomotive-miles—electric

72,595,767 1,558,504

71,408,684 1,350,479

1,187,083 208,025

Total locomotive mileage 74,154,271 72,759,163 1,395,108

R E V E N U E SERVICE Freight train-miles Passenger train-miles Mixed train-miles Special train-miles

T R A I N M I L E A G E

22,227,629 27,190,932

316,658 16,493

21,971,792 26,405,026

299,925 33,668

255,837 785,906

16,733 17,175

Total revenue train mileage Non-revenue train-miles

49,751,712 2,801,538

48,710,411 2,700,445

1,041,301 101,093

Total train mileage 52,553,250 51,410,856 1,142,394

R E V E N U E S E R V I C E Freight car-miles

Loaded Empty Caboose

C A R M I L E A G E

620,401,405 304,694,967 22,823,070

586,130,351 267,603,050 22,621,133

34,271,054 37,091,917

201,937 Total freight car-miles 947,919,442 876,354,534 71,564,908

Passenger car-miles Passenger Sleeping, parlor and observation Other passenger-train cars

68,241,404 51,393,787 53,272,430

65,371,022 48,407,003 50,082,304

2,870,382 2,986,781 3,190,126

Total passenger car-miles 172,907,621 163,860,332 9,047,289 Special car-miles

Freight—loaded Freight—empty Caboose Passenger Sleeping, parlor and observation Other passenger-train oars

246,759 ,

14,095 2,358

261,037 8,684

15,999 47,903 12,663 21,233

14,278 8,684 1,904

45,545 12,663 21,233

Total special car-miles 263,212 367,519 104,307 Total revenue car mileage

Non-revenue car-miles 1,121,090,275

11,038,617 1,040,582,385

10,274,393 80,507,890

764,224 Total car mileage 1,132,128,892 1,050,856,778 81,272,114

•Revised: Ottawa & New York Railway transactions eliminated

44

Annual Report

TRAFFIC STATISTICS F R E I G H T

T o n s of revenue freight ca r r ied T o n s of c o m p a n y freight ca r r ied

T o t a l tons of freight carr ied

T o n s of revenue freight ca r r ied one mi le T o n s of c o m p a n y freight ca r r ied one mi le

T o t a l tons of freight ca r r ied one mi le

M i l e s of road opera ted i n freight service T o n s of revenue freight ca r r ied one mi le per m i l e of r o a d T o n s a l l freight c a r r i e d one m i l e per m i l e of r o a d A v e r a g e dis tance h a u l of one t o n of revenue freight A v e r a g e dis tance h a u l of one t o n of a l l freight A v e r a g e n u m b e r o f tons o f revenue freight per t r a i n mi le A v e r a g e n u m b e r o f tons a l l freight per t r a i n m i l e A v e r a g e n u m b e r of tons of revenue freight per loaded car m i l e A v e r a g e n u m b e r o f tons a l l freight per loaded car mi le A v e r a g e n u m b e r o f freight cars per t r a i n mi le A v e r a g e n u m b e r of loaded cars per t r a i n m i l e A v e r a g e n u m b e r of e m p t y ears per t r a i n m i l e

T o t a l freight revenue A v e r a g e a m o u n t received for each t o n of freight A v e r a g e revenue per t o n per mi le A v e r a g e revenue per m i l e of r o a d A v e r a g e revenue per t r a i n m i l e

P A S S E N G E R N u m b e r of in ter l ine passengers car r ied N u m b e r of l oca l passengers car r ied N u m b e r of c o m m u t a t i o n passengers car r ied

T o t a l number of revenue passengers carr ied

T o t a l n u m b e r of revenue passengers car r ied one mi le M i l e s of r o a d opera ted i n passenger service N u m b e r of revenue passengers car r ied one mi le per m i l e of r o a d A v e r a g e d is tance each revenue passenger car r ied A v e r a g e n u m b e r of passengers per t r a i n mi le A v e r a g e n u m b e r of passengers per car mi le A v e r a g e n u m b e r of passenger cars per t r a i n m i l e

T o t a l passenger revenue A v e r a g e a m o u n t rece ived f rom each passenger A v e r a g e revenue per passenger per mi le T o t a l passenger service t r a i n revenue A v e r a g e passenger service t r a i n revenue per mi le of road A v e r a g e passenger service t r a i n revenue per t r a i n mi le

T O T A L T R A F F I C O p e r a t i n g revenues O p e r a t i n g expenses

N e t ope ra t ing revenue

1913 1912" Increase 55,100,277 51,835,054 3,265,223

9,594,497 7,902,343 1,692,154

64,694,774 59,737,397 4,957,377

11,336,082,366 10,3S3,944,225 952,138,141 1,499,002,025 1,243,182,847 255,819,178

12,835,084,391 11,627,127,072 1,207,957,319

3 ,73601 3,716-85 19-16 3,034,275 2,793,749 240,526 3,435,506 3,128,221 307,285

205-74 200 33 5-41 198-39 194-64 3-75 502-84- ' 4 6 6 - 2 4 / 36-60 569 33 522 06 47-27

18-27 17-72 •55 20-69 19-84 •85 42 05 39-35 2-70 27-52 26-32 1-20 13-52 1 2 0 2 1-50

$68,986,965.35 804,990,244.05 83,990,721.30 81.25 81.25

m i l l s 6 0 9 m i l l s 6-26 818,465.41 817,485.30 8980.11

83.06 82.92 80.14

3,354,710 3,110,609 244,101 33,143,748 31,718,218 1,425,530 17,291,876 16,409,666 882,210

53,790,334 51,238,493 2,551,841

2,005,700,366 1,872,342,134 133,358,232 3,459-06 3 ,44110 17-96 579,840 544,116 35,724

37-29 36-54 •75 73 70 3 17 16 1

6 6

835,599,792.04 533,058,181.69 82,541,610.35 cents 66-18 cents 64-52 cents 1-66 cents 1-775 cents 1-766 cents 0-009

844,470,102.28 841,480,896.51 82,989,205.77 S12.S56.12 812,054.90 SS01.22

$1.62 81.55 80.07

S116.904.304 05 S 109,697,588 34 87,932,040 97 81,129,838 65

87,206,715 71 6,802,202 IS!

$28,972,263 OS 828,567,749 6

O p e r a t i n g revenues per mi le of r o a d O p e r a t i n g expenses per m i l e of r o a d

$31,148 57 23,429 0 5

$28,938 99 21,402 62

S2,209 58 2,020 4:1

N e t ope ra t i ng revenue per mi le of r o a d S7.719 52 S7.536 37 S1S3 15

O p e r a t i n g revenues per t r a i n m i l e O p e r a t i n g expenses per t r a i n mi le

S2 35 1 77

$2 25 1 66

80 10 0 11

N e t opera t ing revenue per t r a in m i l e $0 58 $0 59 $0 01

•Revised: Ottawa & New York Railway

45


T R A F F I C STATISTICS (concluded)

D E S C R I P T I O N O F F R E I G H T M O V E D

1913 1 9 1 2 ' Increase Decrease P R O D U C T S O F A G R I C U L T U R E T O D S Tona T O D S T O D S

G r a i n 2,987,549 2,659,859 327,090

F l o u r 1,016,362 934,215 82,147

O t h e r m i l l p r o d u c t s 854,148 902,715 48,567

H a y 467,073 607,802 140,729

T o b a c c o 20,744 13,952 6,792

C o t t o n 124,495 165,299 40,804

F r u i t a n d vegetables 1,181,691 1,129,670 52,021

O t h e r articleB 413,963 241,414 172,549

T o t a l s 7,066,025 6,654,926 411,099

P R O D U C T S O F A N I M A L S

L i v e s tock 510,828 535,173 24,345

D r e s s e d mea t s 399,268 343,752 55,516

O t h e r p a c k i n g house p r o d u c t s 353,137 338,361 14,776

P o u l t r y , game a n d fish 168,240 93,249 74,991 26,406 W o o l 85,685 112,091 26,406

H i d e s a n d l ea the r 142,460 165,689 23,229

M i l k 476,758 416,782 59,976

D a i r y p r o d u c t s 180,153 195,748 15,595

O t h e r ar t ic les 183,557 172,996 10,561

T o t a l s 2,500,080 2,373,841 126,245

P R O D U C T S O F M I N E S

A n t h r a c i t e c o a l 6,143,960 6,450,013 306,053

B i t u m i n o u s c o a l 14,866,447 12,513,031 2,353,416

C o k e 820,235 884,590 64,355

O r e s 652,000 816,062 164,062

S t o n e , s a n d anr l o ther l i k e a r t ic les 3,316,182 3,055,291 260,891

O t h e r ar t ic les 512,472 426,668 85,804

T o t a l s 26,311,296 24,145,655 2,105,641

P R O D U C T S O F F O R E S T S

L u m b e r 1,971,971 1,660,135 311,836

O t h e r a r t i c les 1,515,063 1,630,385 115,322

T o t a l s " 3,487,034 3,290,520 196,514

M A N U F A C T U R E S

P e t r o l e u m a n d o the r oils 624,254 598,793 25,461

S u g a r 416,585 337,886 78,699

N a v a l s tores 84,532 75,490 9,042

I r o n : p i g a n d b l o o m 714,829 755,145 40,316

I r o n a n d steel r a i l s 152,936 164,722 11,786

O t h e r cas t ings a n d m a c h i n e r y 1,245,944 1,225,477 20,467

B a r a n d sheet m e t a l 1,089,250 1,211,869 122,619

C e m e n t , b r i c k a n d l i m e 2,785,101 2,510,201 274,900

A g r i c u l t u r a l i m p l e m e n t s 142,824 119,382 23,442

W a g o n s , carr iages, tools , etc 229,352 181,149 48,203

W i n e s , l i q u o r s a n d beers 435,895 412,559 23,336

H o u s e h o l d goods a n d fu rn i tu re 210,806 179,525 31,281

O t h e r a r t i c les 6,576,925 6,686,988 110,063

T o t a l s 14,709,233 14,459,186 250,047

M I S C E L L A N E O U S C o m m o d i t i e s not p r e v i o u s l y men t ioned T o t a l s 1,026,603 910,926 115,677

T O T A L S 55,100,277 51,835,054 3,265,223

•Revised: Ottawa & New York Railway transactions eliminated

4G

Annual Report

EQUIPMENT STATISTICS

A v e r a g e mi leage per l ocomot ive C o s t of repairs per l ocomot ive m i l e :

S t e a m locomot ives E l e c t r i c locomot ives

T o t a l capac i ty of freight t r a i n cars, tona A v e r a g e capac i ty of freight t r a i n cars, tons Sea t ing capac i ty of passenger cars A v e r a g e seat ing c a p a c i t y of passenger cars A v e r a g e mi leage per passenger t r a i n car A v e r a g e cost of repairs per passenger t r a i n car r

1913 29,345

cents 8-91 cents 3'95

3,023,858 3 8 4 0

110,362 66

46,594

1912* 30,241

9-47 3-53

.,711,098 37-82

106,469 66

46,619

MISCELLANEOUS STATISTICS

C O N S U M P T I O N O F F U E L B Y L O C O M O T I V E S 1913 1912*

A n t h r a c i t e coa l , t o n s f 134,501 107,888 B i t u m i n o u s coa l , t ons t 4,512,409 4,607,913 C o k e , tonsf 1,303

T o t a l coa l a n d coke, tonsf 4,646,910 4,717,104 O i l , gal lons 4,472,494 4,003,673

equa l l i ng tons of coa l i n efficiency 31,659 28,341 Average pounds consumed per m i l e run b y locomot ives i n freight service 1S6-11 187-65 Average pounds consumed per m i l e run b y locomot ives i n passenger service 111-18 115-03 A v e r a g e cost of coa l per t o n f $1.91 § 1 . 8 5 A v e r a g e cost of fue l o i l per ga l lon cents 3-59 cents 3-40 A v e r a g e cost of fue l per l ocomot ive m i l e cents 1 2 4 5 cents 12-39

N E W S T E E L R A I L L A I D I X R E N E W A L S D U R I N G T H E Y E A R

Weight of rail 141 pound r a i l 105 p o u n d r a i l 100 p o u n d r a i l 80 p o u n d r a i l 70 p o u n d r a i l

1913 1912* 1913 1912* Total number of tana laid t Average per o n t

79-1 tons 49-4 tons $43.47 $33.11

61,686-8 tons 27.44 6,064-2 tons 55,606-6 tons 26.64 27.87

20,909 4 tons 23,945-0 tons 28.14 26.42

6-9 tons 27.15

N E W C R O S S T I E S L A I D I N R E P L A C E M E N T D U R I N G T H E Y E A R

1913 1912*

O a k Y e l l o w p ine Misce l l aneous

T o t a l s A v e r a g e at d i s t r i b u t i n g po in t s

Treated 12,070

802,431 18,359

Non-treated Total

178,197 190,267 1,005,218 1,807,649

400,870 479,235

832,860 1,644,291 2,477,151 cents 83-6

Treated Non-trcatcd Total

12,902 193,196 206,098 805,563 551,434 1,356,997

5,697 505,473 511,170

824,162 1,250,103 2,074,265 cents 75-1

http://S33.ll

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

SHOWING S E P A R A T E L Y T H E O P E R A T I O N S OF

T H E BOSTON & A L B A N Y R A I L R O A D , N Y C & H R R R CO, L E S S E E

FOR T H E Y E A R S E N D E D D E C E M B E R 31, 1912 A N D 1913

W H I C H A R E A L S O I N C L U D E D I N T H E P R E C E D I N G S T A T E M E N T S F O R T H E N E W Y O R K C E N T R A L

A N D H U D S O N R I V E R R A I L R O A D C O M P A N Y

48


The New York Central and Hudson River Railroad Company, Lessee

SUMMARY OF FINANCIAL OPERATIONS AFFECTING INCOME

R A I L O P E R A T I O N S R e v e n u e s Expenses

1913 1912 392 97 miles opiratrd 30222 miles operuUa

$17,170,819 07 810,341,704 47 12,698,461 30 11,496,292 18

Percentage of expenses to revenues

A U X I L I A R Y O P E R A T I O N S R e v e n u e s E x p e n s e s

N E T R E V E N U E F R O M A U X I L I A R Y O P E R A T I O N S

N E T R E V E N U E F R O M A L L O P E R A T I O N S

T A X E S A C C R U E D

O P E R A T I N G I N C O M E

O T H E R I N C O M E

J o i n t fac i l i t i e s rents M i s c e l l a n e o u s rents In teres t on loans a n d accoun t s M i s c e l l a n e o u s i n c o m e

T O T A L O T H E R I N C O M E G R O S S C O R P O R A T E I N C O M E

D E D U C T I O N S F R O M G R O S S C O R P O R A T E I N C O M E R e n t a l of B o s t o n & A l b a n y R a i l r o a d a n d i ts leased a n d

opera t ed l ines H i r e of e q u i p m e n t J o i n t fac i l i t i e s rents M i s c e l l a n e o u s ren ta S e p a r a t e l y opera ted proper t ies—loss O t h e r deduc t ions

T O T A L D E D U C T I O N S F R O M G R O S S C O R P O R A T E I N C O M E

N E T C O R P O R A T E I N C O M E

N Y N H & H R R C o ' s p a r t i c i p a t i o n B a l a n c e

•Debit item

84.472.35S :',7 SI .S15.412 29 8373,053 92

(73-95%) (70-35%) (3-60%)

$548,744 60 452,961 72

8450,965 60 351,282 23

897,779 00 101,679 49

895,782 N8 899,683 37 $3,900 49 81 >I:X 111 -J.",

810,932 00 81.915.995 (ill

845,507 94 8376,954 41

34,575 94 83.757,209 25 SI ,999,5x7 72 S342.37S 47

8155,361 66 101,075 96 116,681 84

13,243 7 0 *

3149,458 16 110,862 08

14,141 92 23.265 06

85,903 50

102,539 92 89,786 12

36.508 76

8359.875 76 8297,727 22 S62,14S 51

84,117,085 01 84,397,314 94 8280.229 93

83,094.349 50 1,325,987 13

199,836 96 11,040 71

I 40

82,978,118 62 1,050,778 93

196,534 93 11,994 31 40,286 54 48,000 00

8116,230 SS 275,208 20

3,302 03 $953 60

33,697 14 48,000 00

S1.637.S03 Til 84,325,713 33 8312,(190 87

8520,718 6Ut 260,359 34

871,601 lil 35,800 80 $296,160 14

$592,320 30

82611.359 351 835,801) 81 $296,160 16

TDrf

DETAIL OF OPERATING REVENUES

R E V E N U E S F R O M T R A N S P O R T A T I O N

F r e i g h t r evenue Passenger revenue E x c e s s baggage revenue M a i l r evenue E x p r e s s r evenue M i l k r evenue (on passenger t ra ins) O t h e r passenger t r a i n revenue S w i t c h i n g revenue S p e c i a l se rv ice t r a i n revenue M i s c e l l a n e o u s t ransport at ion revenue

T o t a l t r a n s p o r t a t i o n revenues

1913 88,950,652 08

6,390,213 47 45,234 69

432,929 31 644.14S 30

24,912 18 111,277 02 265,225 18

6,367 9 5 18,965 42

1912 88,022,100 81

5,998,613 60 41,248 46

380,337 36 605,262 01

8,758 59 107,627 22 268,311 87

14,881 66 18.284 77

Increase $328,551 27

391,599 87 3,986 23

52,591 95 38,886 29 16,153 59 3,650 40

S3.0S6 69 8,513 91

816.889,926 21) 816,065.126 35 8824,499 85

B B V K N l - K H F R O M O P E R A T I O N S O T H E R T H A N T 1 1 A N S I ' O K T A T I O X

S t a t i o n a n d t r a i n p r iv i l eges 849,120 90 845,170 81 83,944 09 P a r c e l r o o m receipts 10,004 00 9,126 87 877 13 Storage—freight 10,718 79 26.697 93 Storage—baggage 2,699 75 2,569 9 5 129 80 C a r serv ice 103,723 02 102,062 71 1,660 31 T e l e g r a p h a n d te lephone service 372 44 277 1)9 95 3 5 R e n t s of b u i l d i n g s a n d o ther p r o p e r t y 10.7S7 4 3 15,539 29 M i s c e l l a n e o u s 37,235 96 19,385 87 17,850 09 J o i n t fac i l i t ies r e v e n u e — D r . 6,547 92 6,615 04 67 12 J o i n t fac i l i t i e s r e v e n u e — C r . 62.779 10 62,056 64 722 46

T o t a l n o n - t r a n s p o r t a t i o n revenues 82S0.S93 47 8276.27.8 12 S4.615 35 T o t a l o p e r a t i n g revenues ( 1 7 , 1 7 0 3 1 9 67 S16.341.704 47 8829,115 20

http://S1.637.S03

49

BOSTON A N D A L B A N Y R A I L R O A D The New York Central and Hudson River Railroad Company, Lessee

. OPERATING EXPENSES IN DETAIL

(Hail operations only)

M A I N T E N A N C E O F W A Y A N D S T R U C T U R E S

1913 1912 Increase Decrease Super in tendence $110,875 9 2 $125,872 53 $14,996 61 B a l l a s t 37,869 91 26,972 85 $10,897 06 T i e s 271,738 54 160,867 25 110,871 29 R a i l s 185,510 0 5 156,914 09 28,595 96 O i l i e r t r a ck m a t e r i a l 146,562

599,663 54 . 95,158 41 51,404 13

R o a d w a y a n d t rack 146,562 599,663 86 691,611 50 91,947 64

R e m o v a l of snow, s a n d a n d ice 10,293 09 32,244 34 21,951 25 T u n n e l s 1,956 58 4,122 30 2,165 78 Bridges , t rest les a n d cu lve r t s 280,141 41 228,613 89 51,527 52

2,165 78

O v e r a n d unde r grade crossings 33,686 69 36,870 64 3,183 95 t i r a d e crossings, fences, ca t t le guards a n d s igns 44,629 94 32,581 00 12,048 94 S n o w a n d sand fences a n d anowaheds 29 8 2 522 93 493 11 •Signals a n d i n t e r l o c k i n g p lan t s 158,074 11 157,614 76 459 3 5 T e l e g r a p h a n d te lephone l ines 19,865 2 2 12,936 67 6,928 5 5 E l e c t r i c p o w e r t r ansmiss ion 349 67 368 59 18 92 B u i l d i n g s , fixtures a n d grounds 524,717 95 210,846 0 2 313,871 9 3 D o c k s a n d w h a r v e s 6,661 04 14,438 63 7,777 59 R o a d w a y too l s a n d suppl ies 27,806 69 23,564 10 4,242 59 In jur ies t o persons 26,220 89 29,276 93 3,056 04 S t a t i o n e r y a n d p r i n t i n g 5,654 22 7,827 97 2,173 75 O t h e r expenses 1,298 38 1,416 41 118 03 M a i n t a i n i n g j o i n t t racks , y a r d s a n d other f a c i l i t i e s — D r . 36,858 19 32,365 58 4,492 61 M a i n t a i n i n g j o i n t t racks , y a r d s a n d other f ac i l i t i e s—( ' r . 37,046 3 7 35,121 02 1,925 3 5

T o t a l s $2,493,418 34 $2,047,S80 4 3 S445.531 91

M A I N T E N A N C E O F E Q U I P M E N T

Supe r in t endence $59,488 25 851,246 37 $8,241 88 S t e a m locomot ives—repa i r s 918,277 82 909,478 94 8,798 88 S t e a m locomot ives—renewa l s S t e a m l o c o m o t i v e s — d e p r e c i a t i o n

27,152 441 57,998 99 J

24,019 39 61,132 04

Passenger - t ra in cars—repairs 269,165 89 232,903 18 36,262 71 Passenger - t ra in cars—renewals Passenger - t ra in ca rs—deprec ia t ion

18,171 261 41,452 83 J

11,813 58 47,810 51

F r e i g h t - t r a i n cars—repairs 381,983 65 368,178 26 13,805 39 F r e i g h t - t r a i n cars—renewals F r e i g h t - t r a i n ca r s—deprec ia t ion

80,107 IS"! 103,063 62 J

11,536 23 171,634 57

E l e c t r i c e q u i p m e n t of cars—repai rs 343 90 149 84 194 06 W o r k equ ipmen t—repa i r s 24,709 81 19,847 26 4,862 55 W o r k equ ipmen t—renewa l s W o r k e q u i p m e n t — d e p r e c i a t i o n

7,749 461 7,496 32 J

•2,349 47 17,595 25

S h o p m a c h i n e r y a n d tools 51,749 10 51,781 55 $32 45 In ju r i e s to persons 28,978 4 3 31,842 8 2 2,864 39 S t a t i o n e r y a n d p r i n t i n g 8,421 56 10,219 59 1,798 03 O t h e r expenses •49 40 49 40

T o t a l s $2,086,261 11 81,720,667 54 $365,593 57

•Credit item

50


The New York Central and Hudson River Railroad Company, Lessee

O P E R A T I N G E X P E N S E S I N D E T A I L (continued)


T R A F F I C E X P E N S E S

1913 1912 Increase Decrease Super in tendence $74,93S 84 $71,837 04 $3,101 80 O u t s i d e agencies 59,622 30 57,174 62 2,447 68 A d v e r l ising 17.81S 28 29,531 8 5 $11,713 57 Traf f ic associat ions 3,714 27 4,689 79 975 52 F a s t freight l ines 49,508 04 52,051 82 2,543 78 I n d u s t r i a l and i i g n i t i o n bureaus 166 67 166 67 S t a t i o n e ry a n d p r i n t i n g 10,664 90 10,425 36 239 54 O t h e r expenses 8 66 511 22 502 56

T o t a l s $216,441 96 $226,221 70 $9,779 74

T R A N S P O R T A T I O N E X P E N S E S

Super in tendence $148,305 58 $134,527 30 $13,778 28 D e s p a t c h i n g t ra ins 53,423 70 50,381 43 3,042 27 S t a t i o n employees 1,139,372 18 1,069,204 88 70,167 30 W e i g h i n g a n d ear-service associat ions 2,138 09 1,157 06 980 43 S t a t i o n suppl ies a n d expenses 117,259 75 117,185 35 74 40 Y a r d m a s t e r s a n d the i r clerks 98,290 75 94,351 84 3,938 91 Y a r d conductors a n d b r a k e m e n 321,763 44 318,272 82 3,490 62 Y a r d sw i t ch a n d s igna l tenders 41,076 81 34,402 67 6,674 14 Y a r d supplies a n d expenses 7,074 71 5,703 76 1,370 9 5 Y a r d enginemen 212,206 65 198,410 24 13,796 41 Eng inehouse expenses—yard 38,206 77 39,060 71 $853 94 F u e l for y a r d locomot ives 296,657 57 278,244 54 18,413 03 W a t e r for y a r d 1 mot ives 20,678 92 19,011 65 1,667 27 L u b r i c a n t s for y a r d locomot ives 4,532 32 4,753 45 221 07 O t h e r suppl ies for y a r d locomot ives 2,368 94 2,796 68 427 74 O p e r a t i n g j o i n t y a r d s a n d t e r m i n a l s — D r . 80,159 93 79,809 25 353 68 O p e r a t i n g jo in t y a r d s a n d t e r m i n a l s — C r . 55,467 64 54,687 77 779 87 M o t o r m c n 3,220 04 2,103 80 1,116 24 R o a d enginemen 855,944 92 805,892 51 50,052 41 Enginehouse expenses—road 280,943 46 274,735 18 6,208 28 F u e l for r o a d locomot ives 1,897,787 70 1,819.031 01 78,756 69 W a t e r for road locomot ives 88,431 54 100,806 71 12,375 17 L u b r i c a n t s for r o a d locomot ives 31,718 8 0 30,545 85 1,172 95 O l h e r supplies for r o a d locomot ives 23,490 4 5 26,135 06 2,644 61 P u r c h a s e d power 2,893 4 0 3,220 24 326 84 R o a d t r a inmen 938,551 94 887,796 04 50,755 90 T r a i n supplies a n d expenses 220,084 98 195,336 15 24,748 83 In t e r lockc r , b lock a n d o ther s i gna l opera t ion 204,726 16 190,132 86 14,593 30 C r o s s i n g flagmen a n d ga temen 35,610 79 37,296 19 1,685 40 D r a w b r i d g e ope ra t ion 6,583 28 5,208 68 1,374 60 C l e a r i n g wrecks 11,184 89 14,266 81 3,081 92 T e l e g r a p h a n d te lephone opera t ion 6,015 84 9,377 35 3,361 51

Carried forward S7,135,236 72 $6,794,467 90

51

BOSTON A N D A L B A N Y R A I L R O A D The New York Central and Hudson River Railroad Company,

O P E R A T I N G E X P E N S E S I N D E T A I L (concluded)


T R A N S P O R T A T I O N E X P E N S E S (concluded)

1913 1912 Increase Decrease

Brought forward S7,135,236 72 $6,794,407 90

S t a t i o n e r y a n d p r i n t i n g 57,066 50 68,369 07 $11,302 57

O t h e r expenses 8,460 50 2,099 63 $6,360 87

L o s s a n d damage—fre ight 161,089 73 110,391 94 50,697 79

L o s s a n d damage—baggage 2,543 02 1,820 17 722 85

D a m a g e t o p r o p e r t y 27,389 02 39,712 28 12,323 26

D a m a g e t o s tock o n r i gh t of way 865 71 297 51 568 20

In jur ies t o persons 91,691 56 97,951 81 6,260 25

O p e r a t i n g j o i n t t r acks a n d f a c i l i t i e s — D r . 2,846 88 3,112 37 265 49

O p e r a t i n g j o i n t t r acks a n d f a c i l i t i e s — C r . 18,131 92 17,291 10 840 76

T o t a l s $7,469,057 72 $7,100,931 52 $368,126 20

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

Sala r i e s a n d expenses of general officers 852.073 02 $44,402 54 $7,670 48

Salar ies a n d expenses of c lerks a n d a t t endan t s 158,259 80 144,906 78 13,353 02

G e n e r a l otlice suppl ies a n d expenses 28,040 43 34,891 98

L a w expenses 71,158 22 67,793 81 3,364 41

Insurance 50,177 10 41,262 27 8,914 83

Pens ions 43,011 75 38,619 41 4,392 34

S t a t i o n e r y a n d p r i n t i n g 16,029 82 14,689 76 1,340 06

O t h e r expenses 6,491 82 9,512 69

G e n e r a l a d m i n i s t r a t i o n jo in t t racks , y a r d s a n d term i n a l s — D r . 8,226 21 4,758 69 3,467 52

G e n e r a l a d m i n i s t r a t i o n jo in t t racks , y a r d s a n d term i n a l s — C r . 186 00 252 94 66 94

T o t a l s $433,282 17 $400,584 99 $32,697 18

P E R C E N T A G E O F R A I L O P E R A T I N G E X P E N S E S T O R E V E N U E F R O M R A I L O P E R A T I O N S B Y G R O U P S

1913 1912 M a i n t e n a n c e of w a y a n d s t ruc tures 14-52 12;53 M a i n t e n a n c e of e q u i p m e n t 1 2 1 5 1 0 5 3 Traf f ic expenses 1-26 . 1*39 T r a n s p o r t a t i o n expenses 43-50 43-45 G e n e r a l expenses 2 5 2 2-45

T o t a l s 73-95 7 0 3 5

52

BOSTON A N D A L B A N Y R A I L R O A D

New York Central and Hudson Hirer Railroad Company, Lessee

DETAIL OF AUXILIARY OPERATIONS

D I N I N G A N D S P E C I A L C A R I Revenues Expenses

1913 8234,274 40

1912 § 2 2 0 , 2 3 6 10

261,852 91

Increase i n earnings o r decrease i n

cost 55,038 30

Decrease i n earnings o r increase i n

G R A I N E L E V A T O R S R e v e n u e s Expenses

S T A T I O N R E S T A U R A N T S Revenues Expenses

S 119,893 62 43,213 91

$118,142 50 109,179 38

3,731 29 3,451 00

$33,844 46 28,950 04

F R E I G H T S T O R A G E P L A N T S Revenues Expenses

G R A N D T O T A L S Revenues Expenses

$76,434 O S 30,494 63

$548,744 60 452,961 72

$101,153 75 32,028 28

$450,965 60 351,282 23

TAXES ACCRUED (Including leased and operated lines)

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

C o m m o n w e a l ) . , of Massachuse t t s S t a t e of N e w Y o r k

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

R A I L R O A D C O M M I S S I O N E R S ' A S S E S S M E N T S (Massachuse t t s ) F E D E R A L G O V E R N M E N T I N C O M E T A X

T o t a l r a i l w a y taxes acc rued

DEDUCTIONS FROM INCOME R e n t a l of B o s t o n & A l b a n y R a i l r o a d a n d i ts leased a n d opera ted l ines

C a s h r e n t a l Interest at Z\% o n $3,858,000 R e f u n d i n g bonds of 1902 Interest a t 4 % o n 83,627,000 bonds of 1S93 [for nine months'* Interest a t 5 % o n 83,627.000 R e f u n d i n g bonds of 1913 f r o m O c t o b e r 1, 1913 In teres t at 31 ' , ' , on $1,000,000 T e r m i n a l bonds In teres t at 4 % o n 87,000,000 I m p r o v e m e n t bonds of 1908 In te res t at 4 % on $4,500,000 I m p r o v e m e n t bonds of 1909 In teres t a t 4 % o n $2,000.01)0 I m p r o v e m e n t bonds of 1910 In te res t a t i\% on $1,01)0.000 I m p r o v e m e n t bonds of 1912 In te res t a t 5 % o n 82,015,000 I m p r o v e m e n t bonds of 1913 from J u l y 14, 1913 O r g a n i z a t i o n expenses R e n t a l of P i t t s h e l d & N o r t h A d a m s R a i l r o a d

D i v i d e n d at B% on 4,500 shares of c a p i t a l s tock O r g a n i z a t i o n expenses

R e n t a l of W a r e R i v e r R a i l r o a d D i v i d e n d at 7 % on 7,500 shares of c a p i t a l s tock O r g a n i z a t i o n expenses

C a s h r e n t a l of N o r t h B r o o k f i e l d R a i l r o a d R e n t a l of P r o v i d e n c e W e b s t e r & Spr ingf ie ld R a i l r o a d

2 5 % of gross earnings for year ended D e c e m b e r 31 , 1913

T o t a l r e n t a l

$154,253 75 7,350 00

822,500 00 108 9 3

$52,500 00 75 0 0

53

BOSTON A N D A L B A N Y R A I L R O A D The New York Central and Hudson Rirer Railroad Company, Lessee

MILEAGE STATISTICS

L O C O M O T I V E M I L E A G E

REVENUE SERVICE

Freight locomotive-miles Passenger locomotive-miles Mixed locomotive-miles Special locomotive-miles Switching locomotive-miles

1913 4,359,119 4,802,541

43,429 3,313

2,337,081

1912 4,188,346 4,717.208

41,351 8.737

2,334,519

Increase 170,773 85,333 2,078

2,562

Decrease

5,424

Total revenue locomotive mileage Non-revenue locomotive-miles

11,545,483 445,205

11,290,161 450,116

255,322 4,911

Total locomotive mileage 11,990,688 11,740,277 250,411

T R A I N M I L E A G E R E V E N U E S E R V I C E

Freight train-miles Passenger train-miles Mixed train-miles Special train-miles

3,637,566 4,335,586

41,858 3,022

3,509,134 4,211,976

39,660 7,188

128,432 123,610

2,198 4,166

Total revenue train mileage Non-revenue train-miles

8,018,032 319,354

7,767,958 272,577

250,074 46,777

Total train mileage 8,337,386 8,040,535 296,851

C A R M I L E A G E R E V E N U E S E R V I C E

Freight car-miles Loaded Empty Caboose

70,578,130 28,955,606 3,647,909

67,573,847 25,812,418 3,516,253

3,004,283 3,143,188

131,656

Total freight car-miles 103,181,645 96,902,518 6,279,127

Passenger car-miles Passenger Sleeping, parlor and observation Other passenger-train cars

11,779,483 6,968,370 7,390,319

11,554,921 6,359,956 6,949,429

224,562 608,414 440,890

Total passenger car-miles 26,138,172 24,864,300 1,273,866

Special car-miles Freight—loaded Caboose Passenger Sleeping, parlor and observation Other passenger-train cars

45,218 2,853

33,896 2,087

10,416 12,663 6,977

11,322 766

10,416 12,663 6,977

Total special car-miles 48,071 06,039 17,968

Total revenue car mileage Non-revenue car-miles

129,367,888 1,962,002

121,832,863 1,544,519

7,535,025 417,483

Total car mileage 131,329,890 123,377,382 7,952,508

54

BOSTON A N D A L B A N Y R A I L R O A D The New York Central and Hudson River Railroad Company, Lessee

TRAFFIC STATISTICS

F R E I G H T 1913 1912 Increase Decrease

T o n s of revenue freight ca r r i ed 9,650,471 9,138,788 511,683 T o n s of c o m p a n y freight ca r r i ed 1,003,970 898,330 105,640

T o t a l tons of f re ight ca r r ied 10,654,441 10,037,118 617,323

T o n s of revenue f re ight ca r r i ed one m i l e 1,118,612,872 1,038,865,983 79,746,889 T o n s of c o m p a n y f re ight ca r r ied one mi le 48,549,460 50.672,553 2,123,087

T o t a l t ons of freight ca r r ied one m i l e 1,167,162,338 1,089,538,536 77,623,802

M i l e s of r o a d opera ted i n freight se rv ice 392-97 392-22 •75 T o n s of revenue freight c a r r i e d one m i l e per m i l e of r o a d 2,846,560 2,648,681 197,879 T o n s a l l f reight ca r r ied one mi le per m i i e of r o a d 2,970,105 2,777,876 192,229 A v e r a g e d i s tance h a u l of one ton of revenue freight 115-91 113-68 1-23 A v e r a g e d is tance h a u l of one ton of a l l f reight 109-55 108-55 1-00 A v e r a g e n u m b e r of tons of revenue freight per t r a i n m i l e 304 02 292-74 11-28 A v e r a g e n u m b e r of tons a l l f reight per t r a i n m i l e 317-21 307-02 1 0 1 9 A v e r a g e n u m b e r of tons of revenue freight per loaded car m i l e 15-85 15-37 •48 A v e r a g e n u m b e r of tons a l l f reight per loaded car mi le 16-54 16-12 -42 A v e r a g e n u m b e r of freight cars per t r a i n m i l e 28 04 27-81 •73 A v e r a g e n u m b e r of l oaded cars per t r a i n mi le 19-18 19-04 -14 A v e r a g e n u m b e r of e m p t y cars per t r a in mi le 7-S7 7-27 •00

T o t a l freight revenue $8,950,652.08 $8,622,100.81 $328 ,551 .27 A v e r a g e a m o u n t rece ived for each t o n of freight cents 92-7 cents 94-3 cents 1-6 A v e r a g e revenue per t o n per m i l e m i l l s 8 0 0 2 m i l l s 8 300 m i l l s 0-298 A v e r a g e revenue per m i l e of r o a d $22,776.69 $21,982.82 $793.87 A v e r a g e revenue per t r a i n m i l e $2.43 $2.43

P A S S E N G E R N u m b e r of in te r l ine passengers ca r r i ed 1,014,282 945,043 69,239 N u m b e r of l oca l passengers ca r r i ed 5,225,997 4,945,751 280,246 N u m b e r of c o m m u t a t i o n passengers ca r r i ed 6,229,878 0,209,139 20,739

T o t a l n u m b e r of revenue passengers ca r r i ed 12,470,157 12,099,933 379.221

T o t a l n u m b e r of revenue passengers ca r r i ed tale mi le 350,932,348 334,811,831 16,120,517 M i l e s of road opera ted in passenger service 378-19 377-44 •75 N u m b e r of revenue passengers car r ied one m i l e per mi le of r o a d 927,926 887,060 40,866 A v e r a g e d is tance each revenue passenger ca r r i ed 28-14 27-67 •47 A v e r a g e n u m b e r o i passengers per t r a i n mi le SO 79 1 A v e r a g e n u m b e r of passengers per car m i l e 19 19 A v e r a g e n u m b e r of passenger cars per t r a i n m i l e 6 6

T o t a l passenger revenue $6,390,213.47 $5,998,613.60 $391,599.87 A v e r a g e a m o u n t r ece ived f r o m each passenger cents 51-24 cents 49-58 cents 1 6 6 A v e r a g e revenue per passenger per m i l e cents 1-821 cents 1-792 cents 0 029 T o t a l passenger service t r a i n revenue $7,048,715.57 $7,141,847.24 $500,868.33 A v e r a g e passenger serv ice t r a i n revenue per m i l e of r o a d $20,224.53 $18,921.81 $1,302.72 A v e r a g e passenger serv ice t r a i n revenue per t r a i n m i l e 81.75 81.68 $0.07

T O T A L T R A F F I C O p e r a t i n g revenues 81.7,170,819 67 816,341,704 47 $829,115 20 O p e r a t i n g expenses 12,698,461 30 11,496,292 I S 1,202,169 12

N e t o p e r a t i n g revenue $4,472,358 37 84,845,412 29 8373,053 92

O p e r a t i n g revenues per m i l e of r o a d 843,694 99 841,664 64 $2,030 35 O p e r a t i n g expenses per m i l e of r o a d 32.314 07 29,310 83 3,003 24

N e t ope ra t i ng revenue per m i l e of r o a d $11,380 92 S12.:>53 .81 8972 89

O p e r a t i n g revenues per t r a i n m i l e $2 14 $2 10 $0 04 O p e r a t i n g expenses per t r a i n m i l e 1 58 1 48 0 10

N e t ope ra t i ng revenue per t r a i n m i l e SO 56 89 62 SO 06

55

BOSTON A N D A L B A N Y K A I L H O A D The New York Central and Hudson River Railroad Company, Lessee

T R A F F I C STATISTICS (concluded)

D E S C R I P T I O N O F F R E I G H T M O V E D

P R O D U C T S O F A G R I C U L T U R E G r a i n F l o u r

O t h e r m i l l products H a y T o b a c c o C o t t o n F r u i t a n d vegetables O t h e r ar t ic les

P R O D U C T S O F A N I M A L S

L i v e s tock

Dressed meats O t h e r p a c k i n g house p roduc t s P o u l t r y , game a n d fish W o o l H i d e s a n d leather M i l k D a i r y p roduc t s O t h e r a r t ic les

P R O D U C T S O F M I N E S A n t h r a c i t e c o a l B i t u m i n o u s coa l C o k e Ores Stone, sand and o ther l i k e ar t ic les O t h e r ar t ic les

P R O D U C T S

L u m b e r

O t h e r art icles

O F F O R E S T S

• M A N U F A C T U R E S P e t r o l e u m a n d o ther o i l s Sugar

N a v a l stores I r o n : p i g a n d b l o o m I r o n a n d s tee l ra i l s O t h e r cas t ings a n d m a c h i n e r y B a r a n d sheet m e t a l C e m e n t , b r i c k a n d l i m e A g r i c u l t u r a l imp lemen t s W a g o n s , carriages, tools, etc W i n e s , l i q u o r s a n d beers H o u s e h o l d goods a n d fu rn i tu re O t h e r ar t ic les

M I S C E L L A N E O U S

C o m m o d i t i e s not p r e v i o u s l y men t ioned

1913 1912 Increase Dc-crmse Tons Tons Tons Tona

654,171 513,339 140,832 180,900 175,104 5,796 159,424 171,607 12,183 156,841 144,489 12,352

5,409 4,725 684 68,583 94,359 25,776

. 149,758 128,243 21,515 102,560 73,474 29,086

1,477,646 1,305,340 172,306

262,896 276,782 13,886 97,143 71,899 25,244 ' 92,018 83,114 8,904 52,614 22,419 30,195 56,667 80,669 24,002 89,423 108,129 18,706 22,686 21,925 761 27,359 42,644 15,285 32,409 34,651 2,242

73:8,21.-, 742,232 9,017

905,095 935,133 30,038 1,584,851 1,364,063 220,788

103,361 96,560 6,801 24,996 24,315 681

532,886 507,849 25,037 49,451 55,832 6,381

3,200,640 2,983,752 216,888

318,301 300,163 18,138 78,911 101,198 22,287

397,212 401,361 4,149

139,192 146,822 7,630 68,954 35,072 33,882 24,633 10,055 14,578

144,335 177,642 33,307 3,203 8,278 5,075

169,408 173,003 3,595 195,724 249,962 54,238 715,805 657,312 58,493

3,519 3,505 14

51,799 46,044 5,755 59,433 59,822 389 33,750 32,495 1,255

1,848,881 1,725,987 122,894

3,458,636 3,325,999 132,637

383,122 380,104 3,018

9,650,471 9,138,788 511,683

1913 THE NEW YORK CENTRAL AND HUDSON RIVER RAILROAD … · General Claims Attorney FRANK V....

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Transcript of 1913 THE NEW YORK CENTRAL AND HUDSON RIVER RAILROAD … · General Claims Attorney FRANK V....