OCR Text |
Show iimm SHDWDECHEASE Federal Gross Income Is ! Greater Than Standard J Receipts, However. j NEW YORK. July 16. Although op-; crating revenues of the Southern Pacific , company and its subsidiaries for the yeari RMS exceeded ti:e previous year bv IJ27,-1 i'.:'.s,717. or U.LT. per cent, operating ex-! oe rises increasr d i J0,-",-ifi. or 34-!:i per ; 'cut, leaving a decrease in net revenue from operations of ? 1 J . 4'"', vtli , or 3 9.74 per cent, accord ing to the annual report issued today. T'ne in ci eased cost of opera tions, ac- 1 cording to the director's report. was, chiefly due to Increased wages and increased in-creased prices paid for fuel and other1 materials, which absorbed about SO per cent of the enlarged one-rating expenses. I "In other words," the report adds, "it ; cost SI.. '.2 to enrn every additional dol- I lar of operating revimc.es." The company's balance sheet shows cur- i rent assets of $l,:;,u:iJ,004J a decrease- of j ?iO,l!'it,7M4, resulting mainly from the ab- seivo In this account of $:M100"POno car-; ried in RUT for demand loans ninla re-! ducthm of $Hii,7R(.;ii!i for materials and supplies. Total assets airgregated $1,736,- i 3'iu.4Stj, an increase of R2.".3,;;lj7. The report contains a table giving the' results of federal opera tions during 191S compared with the standard return agreed upon with the director general. Accord- ; ing to this table, the federal income for 1918 exceeded the standard return by j $7,757,903, or 10.11 per cent. |