HUDSON AND MANHATTAN RAILROAD COMPANY
 

New York, April 9th, 1913.

To the Stockholders of the

Hudson and Manhattan Railroad Company:

The President and Board of Directors submit the following report of the operation of the
Company for the year ended December 31st, 1912. At the last annual meeting of the stockholders,
the fiscal year of the Company was changed to end on the thirty-first day of December instead of the
thirty-first day of March; therefore, the within report includes the results of January, February and
March, 1912, which have already been given in the preceding annual report.
 

Condensed ComparaUve Statement of Income
 


 

Year Endkd
DacEMBBR 31, 1912
 

Yhar Bnobd
Dbcbmber 31,1911
 


 

$5,334,660.38
2,240,255.81
 

$4,639,464.27
 


 


 


 


 

$3,094,404.57
 


 


 


 

Interest on Total Interest-Bearing Bonds Outstanding    ....
 

$2,943,196.06
64,114.77
 

$2,944,552.14
 


 


 

Balance, being Interest on Capital Employed in Operation and
 

$2,879,081.29
289,855.49
 

$2,303,924.98
283,864.89
 


 


 


 

$3,168,936.78
 

$2,587,789.87
 


 


 

P4,532.21
 


 


 

$8,869.68
 

Percentage of R, R. Operating Expenses vs. R. R. Revenue ,   .
 

36.04%
 

38.99%
 


 

7,950,413
 

7,150,826
 


 


 

45.66c.
16.45c.
 


 


 


 


 


 


 

29.21c.
 


 


 


 

The report of the Auditor, showing the financial condition of the Company, and various
statements of accounts and statistics, are hereinafter submitted.

The accounts of the Company have been examined by Messrs. Patterson, Teele & Dennis,
Accountants and Auditors, and their certificate is included herein.