(New York, N.Y. :
Hudson and Manhattan Railroad Company
)
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1914: Page 5
HUDSON AND MANHATTAN RAILROAD COMPANY
New York, April 3rd 1915.
To the Stockholders and Bondholders of
Hudson and Manhattan Railroad Company :
The President and Board of Directors submit the within report of the operations of
the company for the fiscal year ended December 31st 1914.
For the purpose of comparison, in the following Condensed Comparative Statement of
Income and in the detailed Income Account (Exhibit 2), the interest deductions for the month
of January 1913 are included as if the First Lien and Refunding Mortgage and the Adjustment
Income Mortgage (both dated February 1st 1913), had been effective during that iiionth.
Condensed Comparative Statement of Income
12 Months
Ended
December 31st 1914
12 Months
Ended
December 31st 1913
$3,750,950.43
1,698,544.74
$3,743,713.44
1,716,332.81
Railroad operating expenses (including depreciation) and taxes.
2,052,405.69
2,027,380.63
Gross revenue Hudson Terminal Buildings and other non-rail-
1,805,426.11
779,527.77
1,769,049.15
799,304.89
1,025,898.34
969,744.26
Gross income applicable to fixed charges....................
3,078,304.03
236,790.05
2,997,124.89
2,841,513.98
2,121,007.07
2,735,689.71
2,020,264.18
Deduct interest on N. Y. & J. 5's, First Mortgage 4|'s, and First
Balance of net income for the period available for interest on
$720,506.91
$715,425.53
The balance sheet, income account, and various other statements of accounts and statis¬
tics, showing the financial condition of the company are hereinafter submitted.
The accounts of the company have been audited by Messrs. Patterson, Teele and Dennis,
Accountants and Auditors, and their certificate is included herein.