Show 0 o oW D R RW G W Re Report pOrt Shows Successful 1957 Operation Annual report of the Denver Rio Grande Western Vestern Railroad released this week shows 1957 total gross revenues of an increase of over 1956 Net income for 1957 was Vas highest in the history of the company Gross was per cent above 1956 while net gained per cent Each share of oC common stock earned in 1957 as compared compared compared com com- pared with earnings of for a similar number of shares in 1956 Rio Grande achieved these excellent results during 1957 despite de despite despite de- de spite adverse economic pressures pressures pressures press press- ures in the fourth quarter The road maintained the high traffic traffic fic fie volume established in 1956 reflecting the continuing growth and expansion in the western westen area served by the line Freight Freigh revenue tons handled increased during the he year staying well wel above the 20 million ton mark Freight revenues of up per cent from the preceding year accounted fo for per cent of oC total 1957 operating op operating operating op- op revenues Passenger revenues re revenues re- re venues of were up 13 per ner cent over 1956 and contri contri- buted per cent of the total The remaining per cen cent came from mail man and express dining car and hotel revenues and switching revenues Operating expenses in 1957 to totaled totaled totaled to- to per cen cent above 1956 Principal factors factor in the increased expenditure le level level level le- le vel were higher wage and material material material ma ma- costs Operating ratio expenses t to revenues in 1957 was compared compared compared com com- pared with in 1956 In a comparison of nationwide railroad railroad rail rail- road load operations during 1957 Rio Grande achieved the third lowest lowest lowest low low- est operating ratio among all railroads having gross revenues revenues reven reven- ues exceeding 50 million Tax accruals of oC in 1957 were or 38 percent per percent percent cent over the 1956 total of Payroll for 1957 was an increase of over the 1956 payroll of 33 Average annual wage in 1957 was as compared with in 1956 Materials l and supplies purchased purchased purchased pur pur- chased in 1957 totaled an amount more than the expended in 1956 i I I The excellent performance of the company reflects the expenditure expenditure expenditure of for additions additions additions addi addi- and betterments made on the property from January 1 1936 through December 31 1957 which has made it one of the fine railroads of the U Un United n i t e d States declared President G. G B. B Aydelott in his message to stockholders He lie cautioned however that All AIl railroads including the Rio Grande need to be turned loose They need the right to compete for the hauling of freight traffic traffic I fic under the same rules that other forms of transportation compete for that traffic He urged the passage of legislation legislation leg leg- soon to come before Congress saying that the proposed proposed proposed pro pro- posed legislation will materially aid in re-establishing re an equality equality equality equal equal- ity of opportunity to compete Aydelott said also that the Rio Grade trade territory is u. u a rapidly expanding and d developing developing devel devel- vel- vel area having great growth potential with its vast deposits of coal minerals oil and oil- oil shale and other materials vitally vitally vitaly vital vital- ly y essential to the economy and the defense of the country We Ve Weare Weare are optimistic about the future of the company and the territory territory territory terri terri- tory it serves |