File:The Street railway journal (1899) (14573125427).jpg

Identifier: streetrailwayjo151899newy (find matches)
Title: The Street railway journal
Year: 1884 (1880s)
Authors:
Subjects: Street-railroads Electric railroads Transportation
Publisher: New York : McGraw Pub. Co.
Contributing Library: Smithsonian Libraries
Digitizing Sponsor: Smithsonian Libraries

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ties. For the year just ended, the net earnings forinterest and dividends amounted to $6,639,816, nearly eighttimes as much as in 1888, and the surplus left for stockwas equivalent to $4,154,506*, or 7 per cent on $58,498,500.Truly a remarkable showing is this, and one which reflectsthe greatest credit upon the ability of a management which,it is probably safe to say, has few equals and no superiorsamong the street railway properties of the United States. What is the future of the Metropolitan system? The * This figure includes the operating surplus for stock of the MetropolitanStreet Railway Company, the Central Crosstown Railroad Company, theThirty-fourth Street Crosstown Railroad Company, the Twenty-eighth &Twenty-ninth Streets Crosstown Railroad Company (def.), and the FultonStreet Railroad Company (def.), together with the guaranteed dividends onall other properties controlled by the Metropolitan Street Railway Companyand the Central Crosstown Railroad Company, through lease.
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December, 1899.) STREET RAILWAY JOURNAL. 881 answer is simple. With continued good management itcan hardly fail to become one of the great investment prop-erties of New York City. At present, 011 a 7 per cent divi-dend paying basis, it has still over 100 miles of track, rep-resenting nearly half its entire mileage, operating by horses—the most antiquated motive power of all. When thecomplicated network of crosstown lines in the lower endof the city is equipped with some of the cheaper forms ofimproved motive power, such as compressed air or storagebattery, with which enormous investment for conduit con-struction is not required, the amount of short distance busi-ness riding will be vastly increased; when the new powerstation at Ninety-sixth Street, now nearly finished (fromtwo to three years ahead of the Manhattan and ThirdAvenue power stations, work on whose foundations has butrecently commenced), begins to furnish power for theentire system; and when the new cars constantly buildi

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