September 30, 1894, as an example, more than made up by reduction in the number of employes, and reduced operating expenses in other directions. It is gratifying to be able to state, notwithstanding the peculiar condition in which the railroads found themselves placed as the result of the World's Fair, and the vain expectations regarding the volume of business it would produce, no reductions have been made in the wages of employes of any importance, and no trouble has arisen upon any of the steam roads of the State resulting from this or any other cause arising between the companies and their employes. The second volume of this report will be found to contain in detail the earnings and expenses of the individual companies, from the aggregates of which these comparisons are made. A brief summary of the business of the years 1893 and 1894 is given in the table following: Interest. Other liabilities........ Percentage of gross income to cost of road and equipment Percentage of dividends declared to capital stock.......... Tons of freight carried one mile.... Average freight earnings per ton per mile (cents). For year ending d Denotes deficiency. $208,356,827 80 143,075,914 66 65,280,912 64 8,096,358 89 81,723,278 77 6,888,181 98 2,881,965 87 19,304,962 29 8,962,687 12 d 716,181,838 57 708,624,109 02 79,326,771 97 1,879,237,253 27 05.32 02.69 0.751 8,038,930,448 For year ending 2.20 0.65 $197,957,815 47 187,040,574 91 60,916,741 26 7,584,185 88 32,270,493 56 7,865,336 77 2,012,993 82 19,793,009 06 2,017,654 09 787,878,692 77 733.627,524 78 85,418,795 79 1,411,249,576 45 1893. $8,307,617 48 04.85 02.48 7,991.78 *Includes' respectively interest and dividends paid by lessors from rentals received from lessees, as follows: 0.766 0.587 9.229 8,751,553,970 1.98 0.62 1894. $9,174,188 89 Indicative of the continued falling off in business since June 30, 1894, a comparison of receipts and expenses, not including dividends, for the quarters ending September 30, 1893 and 1894, is herewith submitted. The decrease in gross earnings from operation for the quarter ending September 30, 1894, was $4,239,246.21. This was more than made up, however, by a decrease in operating expenses of $4,938,218.05, leaving an increase in earnings from operation of $698,971.84. The total receipts and disbursements show a decrease in gross income of $4,426,411.43, and a decrease in gross expenses of $4,682,009.51, leaving an increase in net income available for dividends of $255,598.08. These comparative tables include only the principal roads operating in this State, but three of which show a deficit in their operations for the quarter. COMPARISON of quarterly reports of principal roads operating in New York State for the three months ending September 30, 1893, and September 30, 1894. 29,420 29 3,681,802 63 448,307 70 489,855 32 405,687 00 161,140 55 145,332 39 57,119 53 168,009 55 954,307 53 $50,487,703 12 $34,687,756 69 $15,749,946 43 $46,198,456 91 SUMMARY. Quarter ending $15,749,946 43 COMPARISON of quarterly reports of principal roads operating in New York State for three months ending d Denotes deficit. Boston and Albany. Buffalo, Rochester and Pittsburgh.. Delaware and Hudson (including Adirondack). Elmira, Cortland and Northern............... ********** New York Central and Hudson River. Totals.... Constitutional Changes. Section 5 of article 13 of the Revised Constitution provides that "No public officer or person elected or appointed to a public office, under the laws of this State, shall directly or indirectly ask, demand, accept, receive or consent to receive for his own use or benefit, or for the use or benefit of another, any free pass, free transportation, franking privilege or discrimination in passenger, telegraph or telephone rates, from any person or corporation, or make use of the same himself or in conjunction with another." By section 18 of article 1 of the new Constitution, it is provided that "the right of action now existing to recover damages for injuries resulting in death shall never be abrogated, and the amount recoverable shall not be subject to any statutory limitation." As is well known, the limitation imposed heretofore by statute upon the amount of damages recoverable in such actions has been $5,000. The effect of the constitutional amendment is to supersede section 1904 of the Code of Civil Procedure which contained the limitation. By section 7 of article 7 of the new Constitution, it is also provided that the lands of the State constituting the Forest Preserve as now fixed by law shall be forever kept as wild lands, and that they shall not be leased, sold or exchanged, or be taken by any corporation, public or private. This will in effect hereafter prohibit the construction of railroads thereon. Legislative Enactments. The various enactments of the year relating to subjects within the jurisdiction of this Board will be found sufficiently treated in the reports made to the Governor upon the bills referred by him to the Board. (See references from the Governor, in this volume.) References, Complaints and Applications. During the past year the Board has considered and disposed of twelve references by the Governor; fifty-three complaints of rail roads, cation applic and o cation to bu porat applic roads equip deter Th and hare time late. expr A plain thes Syra Afte gatio crim rarr spect Ctic ma hear of The |
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