Deduct Bonds redeemed and canceled during the year General Mortgage Bonds canceled for the Sinking Fund. $220,000 44,000 24,000 $79,158,660 27,000 Showing an increase over last year in the bonded debt of. The increase in the bonded indebtedness is accounted for as follows: Unified Fifty-year Four per cent. Gold Bonds issued for the following purposes: For miscellaneous betterments, such as side-tracks, station buildings, ballast, renewals of bridges and For Bonds redeemed for Sinking Funds. Kentucky Central Railway First Mortgage Four per cent. Gold Bonds. From which deduct Bonds redeemed during the year Increase of bonded debt. $24,000 326,000 $350,000 219,000 $569,000 542,000 $27,000 GENERAL RESULTS. The general results from operations for the year were: Gross Earnings. . Operating Expenses, 63.69 per cent. Net Earnings from Traffic, 36.31 per cent From which deduct charges against income $19,275,993 79 12,277,773 03 $6,998,220 76 $5,013,738 10 569,326 37 Net earnings. To which add-income from investments FROM WHICH DEDUCT Loss on Georgia Railroad Loss on other roads . . 90,024 87 The average length of roads operated was 2,955.98, the same as the previous year. The growth of traffic is shown by the following table: $4,173,302 64 $3,221,213 29 11,911,439 67 13,144,714 83 6,631,864 37 4,181,071 48 56.44 61.33 61.88 60 98 14,261,386 05 8,823,782 56 5,437,603 49 61.87 1884-85.. 1,989. 21 1885-86.. 1,943-52 13,847,143 86 8,104,789 56 13,076,795 34 8,126,506 64 4,950,288 70 6,728 41 4,181 33 2,547 08 62.15 1886-87.. 1,943.52 1887-88.. 2,027.co 1888-89.. 2, 161.64 1889 90. 2, 198.25 1890-91.. 2,250.32 1891-92.. 2,857.91 1892-93. 2,942.03 1893-94.. 2,955.98 1894-95. 2,955.98 14,979,992 30 8,953,502 06 6,026,490 24 7,707 66 4,606 85 3,100 81 10,267,535 II 6,092,706 33 8,071 16 5,065 39 3,005 77 59-77 62.76 10,326,085 57 6,273,310 67 7,679 08 4,776 97 IMPROVEMENT ACCOUNT. The following expenditures made during the year for equipment, improvements and additions to the several properties, which heretofore were charged to Construetion Account, have been charged to Operating Expenses, and are as follows: Final payment on fruit cars Air brake equipment, applied to locomotives. $1,500,00 56,733 44 Air brake equipment and automatic couplers, applied to refrigerator cars, Rails-Value of the difference in weight of 70-lb. steel rails replacing 809 50 Value of difference in weight of 70-lb. steel rails replacing rails of 127 92 7,578 78 253 96 $11,275 35 Pensacola and Selma Railroad-Land sold and credited to this account 155 00 STEEL AND IRON RAILS. At the close of the fiscal year ended June 30, 1894, there were in tracks: During the year there were 136.72 miles of track relaid with new steel rails, to replace old steel, at a cost of $199,683.71. Of this amount there was charged to Operating Expenses, $192,104.93; of which $40,254.01 represents the difference in weight of rails, replaced by heavier rails, the cost of which in previous years has been charged to Construction Account, and $7,578.78 has been charged to Construction Account Nashville and Decatur Railroad. 17.07 miles of old steel from main lines was used to replace old iron on branches There are in track, therefore, on June 30, 1895: Of the new steel laid .09 mile is of the 60-lb. pattern, and ,06 mile of the 68-lb. pattern, and 136.57 miles of the 70-lb. pattern. INTEREST CHARGES FOR 1895-96. The interest charges against Income Account are estimated as follows: Consolidated Mortgage Bonds, seven per cent.. City of Louisville, Lebanon Branch Extension Bonds, six Amount Bonds $494,900 $7,070,000 1,000 10,836,000 646,320 Memphis and Ohio Railroad Sterling Mortgage Bonds, seven per cent.. Cecilia Branch First Mortgage Bonds, seven per cent.. Evansville, Henderson and Nashville Division First Mertgage Bonds, six per cent.. Memphis, Clarksville and Louisville Railroad Sterling Pensacola Division First Mortgage Bonds, six per cent... Southeast and St. Louis Division First Mortgage Bonds, six Louisville and Nashville and South and North Alabama New Orleans and Mobile Division Second Mortgage Bonds, six per cent. Ten-forty Adjustment, Bonds, six per cent.. Louisville, Cincinnati and Lexington Railway First Mortgage Bonds, seven per cent. Louisy ille, Cincinnati and Lexington Railway Second Mortgage Bonds, seven per cent. Louisville, Cincinnati and Lexington Railway General Mortgage Bonds, six per cent. 3,258,000 195,480 Pensacola and Selma Division Bonds, six per cent. Kentucky Central Railway First Mortgage four per cent. Maysville and Lexington Railroad, Northern Division, seven per cent. Bonds. Louisville Railway Transfer First Mortgage Bonds, eight per cent.. From which deduct bonds included in above, deposited with trustees. To secure ten-forty Adjustment Bonds per cent. Pensacola and Selma Division First Mortgage Bonds, six per cent. Pensacola and Selma Division First Mortgage Bonds, six per cent. (also as part collateral for Georgia Railroad Lease). From which deduct to secure Louisville and Nashville and South and North Alabama Railroad Trust Deed Bonds for $1,960,000, included in foregoing Total Louisville and Nashville Railroad Company. . $79,158,660 $4,306,398 |