Show CUTS W J P EARNINGS I I Heavier Heavier Burden of Taxes I I Draws Complaint In InS Ini i Annual Report I j I S N N FRANCISCO May 12 12 The I The se seventh annual report of the Western stern Pacific com compan pan panas was as made marle public at lt Its general of- of offices I ices heie hel e It sho showed ld an increase In freight revenue foi COI 1922 ot of 50 nos or 5 5 60 per cent an ani ania ana 1 a decrease In re ot of or 7 7 50 per cent The Tho s In passenger business busine's os an ani 1 the fact that fi eight traffic did not no Increase In a much larger ration Is accounted for in m tIe the leport In Inthe inthe the Interrupted sel vice due to strike conditions during July Au- Au August August August gust and bel of list vear ear IH II UH- UH EMS D J JI r in I 0 Operating 1 e nul's for the ear ot of 19 1922 1 total totaled Id I'd 12 12 and op- op operating operating expenses 9 IBO Thenet The Thenet Th net operating I evenue Is given as 1704 HO 40 after afler deducting deuc for accrued taxIs taxes and SU for re revenue After fter adding Income horn othel sources an and de he- he ducting miscellaneous expenditure the net not corporate Is pace placed I at 1105 the company paid four dividends dividend totalling 6 per cent on it II Iti pre pre- preferred 1 stock during the ear out ot of net Income anti an II qUi plus and aggregating A readjustment of ot rates on coal froni Crom Utah and Wyoming In June Jun somewhat hat 1 the tho mo e I ment of or that thaI according to In the report and nod notwithstanding not expenses e throughout the tho sear ear ot of keen keln competition a la ia the Panama canal on bu business the ton miles of re re nue freight I hand handled It'd ed od 11 06 per cent ceni centI r L T LS GOI G GOI G 1 Ih I I Referring to taxis taus the report aa sa s a of lall ay tax Lax ftc ftc- accruals accruals reflects In a marked de- de degree I sasI greo the effect upon the net iy operating Income the e dipo- dipo of governmental gOt bodies ti to Increase taxes imposed upon I lall all all- wait wais In 1916 ta ta ac- ac ftc accrual erual of ri this ny comp amounted to ti 4 9 or 4 55 per cent cOnt of Its 01 o I rating crating re while for the cur cur- cu cur rent ear nr they thY were ere o or orI I 7 70 0 per cent centS |