6 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

PANAMA RAILROAD COMPANY,
New York, N. Y., November 5, 1909.
Col. Gzo. W. GoETHALs,
President, Panama Railroad Company, New Y ork, Noy:

Dear Sir: I beg respectfully to submit hon the financial
exhibits and results of the company’s operation for the twelve months
from July 1, 1908, to June 30, 1909, with statistical tables and accom-
panying explanatory comments thereon, for your consideration in
connection with your annual report to. the company’s stockholders.

Gross revenue receipts, expenditures, and net earnings for twelve
_months ending June 30, 1909, compare, as under, with those of the
twelve months ending June 30, 1908:

Operating ex- Earnings over

 

 

 

 

ings. ti -
Harnings penses. oo eens
TO Re EN er aie ops ee ine Oueye Da set te i OR a cae $5,715,517.16 | $38, 699, 678. 60 $2, 015, 838. 56 -
DOA re eyes ae ear eres, err ci ea Mee A ue ...--| 5,999,992. 07 4, 469, 507. 71 1,530, 484. 36
HBCTEASE SEE LOOG Sse ates ee ee tae Wa 485, 354. 20
Decrease 1h 909s eo OS ie Se ea 284, 474. 91 169: S29 AAs oes eee ;
EARNINGS.
RAILROAD.

The total earnings of the railroad for the transportation of all
kinds of traffic show a decrease of $274,275.94, or 6.04 per cent,
under twelve months of previous year. This decrease i in revenue is
divided as follows, viz: :

Am ount. Per cent.

 

Through commercial freight...........-.- ASSN CG SECA TP ah ai SES OS _ $149, 817.77 10. 45

 

avai comunerclalireiah ts os es ee oes ee Eee ea 6,591. 84 Ail:
Local Isthmian Canal Commission freight... .............-...-2-+-+---- He rect 115, 273. 38 11. 27
MINS CEM aM COUS ZANT Sete ee ee eek te eee a 140, 670. 76 14. 86
RO LOM eerie aee es sre a ee I ch uct eae reue wenn Chen IgE Cosa 412, 353. 75 10. 88
Passenger earnings (including mails, baggage, treasure, and express) increase. 138, 077. 81 18. 36
SNOT CECREQSC ascent Sa he es Pe ai aa ie 274, 275. 94 6. 04

Freight traffic from New York and Gulf op shows following
decreases, viz:

Tons.
Mo Souuh raciie portss . 6.8452... ee ee 9 26
To Central America and Mexico........-.. Be ere ee 7,651 -
and the following increases, viz:
g Tons
Mossan Wramcisco.. 25... 245.. So ee 14, 837
MOPAR AM Acti! Ce ee eso ee ee ie pores Ne ee 2, 594

_ From Europe to corresponding pdints the following decreases are
shown, viz:

: Tons.
To South Pacific ports..... rs CO ee ee ..-- 15, 062
fo CentralsA merica and: Mexico. 9205522. 2 0 8. fs eres ete 8, 728
PLO Daly TaN CISC Ones er Sa Se ee eS ee aaa oe 387

ho Panama oe ee a ORR ete 5, 483