AD PANAMA RAIL ROAD COMPANY. EXHIBIT C (Continued). STATEMENT OF REVENUE AND EXPENSES. REVENUE FROM OPERATIONS— 1919. 1918. -| INCREASE. DECREASE. Continued. Brought fonward. 2. .0..- -.| $4,551,668 45 | $3,166,980 29 |$1,384,688 16 _— STEAMSHIP LINE: Sveamen MxpensSes sce wt ak $5,478,913 22 | $8,543,887 87 |$1,935,025 35 — INGEN Cys HXPCOSCSi. se es 806,531 13 618,179 99 |: 193,351 14 — General Expenses—New York.... 161,605 18 133,453 82 28,151 36 = @harter of Steamens:: 4.05 262,322 91 — 262,322 91 ao BIRO IGe eae es aa Me ee SS _— — — — Total Steamship Eixpenses...... $6,709,372 44 | $4,290,521 68 |$2,418,850 76 aa Gross Operating Exxpenses...... $11,261,040 89 | $7,457,501 97 |$38,803,538 92 — SUMMARY. Ratt Roap: Revenue: Operating Ral Road. ..4.... 7. $2,165,589 58 | $1,739,641 23 $426,048 35 — Hambomskerminalia. 2)... ce. LOG 132 333 1,405,579 62 390,552 71 — Owiside: Operations. .622..:..0-. 1.077,806 67 383,625 88 694,180 79 = Total Rail Road Revenue...| $5,039,528 58 | $3,528,746 73 |$1,510,781 85 ae EXPENSES: Onperavumechall ROA. ss s65. 6... $1,979,710 16 | $1,440,421 26 | $589,288 90 = EHanbon smerminal: =.) .02.8 >... 1c. ale 1453 402. 86 1,170,435 49 282,997 37, = Outside Operations. 7. 1,118,525 43 556,123 54 562,401 89 — Total Rail Road Expenses..| $4,551,668 45 | $3,166,980 29 |$1,384,688 16 — iNet; Revenue Rail Road... =... $487,860 13 $361,766 44 $126,093 69 eae Per Cent. of Expenses to Revenue 90 .32 89.75 OMe =e STEAMSHIP J.INE: Mota Revenues: «sss 6 a ees $9,835,184 68 | $5,649,729 68 |#4,185.455 00 = Motal Tixpensesi: 1.5. ae ee 6,709,372 44 4,290,521 68 | 2,418,850 76 aaa : Net Revenue Steamship Line. ..| $3,125,812 24 | $1,359,208 00 |$1,766,604 24 — Per Cent. of Expenses to Revenue 68 .22 75.94 — Melia, Grand Total Operating Revenue .|$14,874,713 26 | $9,178,476 41 |$5,696,236 85 — Grand Total Operating Expenses.| 11,261,040 89 7,457,501 97 | 3,803,538 92 — Total Net Operating Revenue..... $3,613,672 37 | $1,720,974 44 |$1,892,697 93 — Per Cent. of Expenses to Revenue. . Wont ee S125 (ee 5.54