LOUISVILLE AND NASHVILLE RAILROAD. The Louisville and Nashville Railroad Company's main lines extend from Cincinnati, Ohio, to Atlanta, Ga., via Lexington, Knoxville and Chattanooga: from Cincinnati to Memphis, Tenn., via Louisville and Guthrie; from Saint Louis, Mo., to Pensacola, Fla., and to New Orleans, La., via Nashville, Birming ham, Montgomery and Mobile, and to inter mediate cities.
The road was chartered on 5 March '1850, and the main line was opened to the public in November 1859. The company prospered, and from time to time other branches of the road were built and other systems absorbed, until at the close of the fiscal year ending 30 June 1916 the company operated 5,041.61 miles of railroad, in Illinois, Indiana, Kentucky, Tennes see, Alabama, Florida, Georgia, Mississippi, North Carolina and Louisiana. It also owns a majority of the capital stock or is joint owner or lessee of 2,360.07 miles more railroad lines, comprised in the following roads: Nashville, Chattanooga and Saint Louis Railway, the Birmingham Southern Railroad, the Georgia Railroad and its dependencies, the Atlanta, Knoxville and Northern Railway, and the Chi cago, Indianapolis and Louisville Railway, operated under separate organizations. If to this mileage be added that of 41 miles of roads operated by the Louisville and Nashville Rail road, but whose earnings are not included in the earnings of the last-named railroad, and 264.91 miles of branch lines owned but not operated by the Louisville and Nashville Rail road, the grand total of mileage for the Louis ville and Nashville system amounts to 7,642.38 miles.
The operating revenue for the fiscal year ended 30 June 1916 was $60,317,993, earned by the transportation of 11,925,101 passengers and 35,488,688 tons of freight. The passenger travel averaged 44.40 miles, at a charge of 2.17 cents per mile — aggregating in the year 529, 426,981 miles, and $11,488,086. The freight traffic averaged 183.49 miles per ton, at a charge of 0.686 cents per ton mile —aggregat ing in the year 6,511,946,570 ton-miles, and $44,658,860.
The operating expenses for the year were $39,790,481. After deducting taxes and uncol lectible revenue, the total operating income was $18,265,906. Interest on funded debt amounted to $7,681,718, and the total non-operative in come was $4,456,167. The total net income from all sources was $14,039,130, of which $13, 953,849 was transfered to profit and loss ac count. The dividend appropriations from sur plus amounted to $4,320,000.
The equipment of the system on 30 June 1916 consisted of 1,042 locomotives, with an aggregate tractive capacity of 32,593,600 pounds; 392 passenger cars; and 45,761 freight cars, of which 20,368 were coal cars with an aggregate capacity of 894,462 tons. Bitu minous coal constitutes the largest item of freight tonnage, amounting to 13,943,804 tons, or 40 per cent of all the freight handled. The operating revenue per mile of road was $11,964, and the operating expenses $7,892, making the net operating revenue per mile of road $4,072.
The entire investment in the road and its equipment on 30 June 1916 was $271,683,491. Other investments of the company amounted to $35,026,729. The total stock outstanding on the date mentioned was $72,012,117, and the total long-term debt was $178,230,412. Accrued depreciation was placed at $31,538,865. The credit balance of the profit and loss account on the same date was $50,172,752.
The Louisville and Nashville Railroad Com pany owns but does not operate the Yellow River Railroad of Florida, a short line of less than 30 miles, operated independently. It also leases or operates the following roads, whose earnings are not included in the income ac count of the lessee company: The Eastern Railroad of Alabama, about 20 miles of lines; the Elkton and Guthrie Railroad of Kentucky, about 11 miles of lines, and the Glasgow Rail road of Kentucky, about 10 miles of lines.
On 30 June 1916, $36,720000 of the capital stock of the Louisville and Nashville Railroad was owned by the Atlantic Coast Line Rail road Company.