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PANAMA RAIL ROAD COMPANY. | —~—-669

PANAMA RAIL ROAD COMPANY. =|

Masor GENERAL Guo. W. GOETHALS,
PRESIDENT, PANAMA Ratt Roap Company,
BauLBoa Hnicuts, C. Z.

Sir—The accompanying Exhibits showing Income Account, General |

Balance Sheet and statistical tables for the four months ending October — ;

31, 1915, printed in accordance with Resolution of the Board of Directors

adoptéd at its meeting April 2, 1906, reflect marked increases in revenue, __

that of the railroad being due to the closing of the Canal on September 18,
1915, to traffic and the consequent diversion to it of freight that would

otherwise under new conditions be water-borne through Canal; of the ee

steamship line to a substantial increase in the tonnage handled. ‘

The increase in revenue derived by the railroad from its local and :

through business, as compared with the same period 1914, amounts to __
$71,649.15, and for the steamship line $117,378.91. The tonnage trans-
ported by the railroad remains practically unchanged as compared with

corresponding period of last year and increased revenue is accounted
for by decreases in non-revenue earning freight handled of 29,013 tons

for the Company’s-own account, in Panama Canal Freight of 14,266
tons transported at agreed rates and an increase of 43,096 tons in com- —
mercial freight carried at our tariff rates. The steamship line’s tonnage ~
increased, aS compared with corresponding period of last year, 18,593
tons.

Respectfully submitted,

Ee A, DRAKE,

Vice-President, See