The Railway and Marine World - 1909-12 - DAR September Gross Earnings, and Significant Financial News

The Railway and Marine World - 1909-12 - DAR September Gross Earnings, and Significant Financial News

A short news article was published in the December 1909 issue of The Railway and Marine World trade magazine about the Dominion Atlantic Railway gross earnings for September, 1909. There was also information of the overall financial state of the company. The scan of the article appears below, while the article text is shown here for search purposes:

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Dominion Atlantic Ry.—This company having changed the date of closing its accounts so as to conform to the requirements of the Department of Railways, the report just issued covers 18 months to June 30. For the six months ended June 30, 1908, there was a loss of £23,200, including debenture interest, so that after deducting £1,800 brought forward there remained a deficit of £22,000, which has been charged against suspense account. For the 12 months ended June 30 last there was a surplus of £8,400 remaining after meeting interest charges. The directors have transferred £7,000 of this to suspense account, and the remaining £1,400 is carried forward. The first six months of the year never make a good showing, even in the best years the earnings scarcely more than meet operating expenses. In the six months ended June 30, 1908, there was a period of acute depression, owing to the financial position of the United States, which made its influence felt all over North America, to say nothing of other parts of the world. There has been a reduction of 0.9% in the working expenses. At the recent annual meeting, in London, Eng., J. M. Denny, Vice President, who recently visited Canada, reported that the rolling stock and vessels had been kept in a thorough state of efficiency, and that the system was being operated most economically. The directors were re-elected.

Gross earnings for Sept., $173,000, against $177,261 for Sept., 1908. Aggregate gross earnings for three months ended Sept. 30, $474,000, against $338,552 for same period 1908.

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