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:STATE OF IOWA,

COUNTY OF POLK.

O. F. Meek, Superintendent of the St. Louis, Des Moines & Northern Railway Company, being duly sworn, deposes and says that he has caused the foregoing statements to be pre_pared by the proper officers and agents of this company, and, having carefully examined the

same, declares them to be a true, full, and correct statement of the condition and affairs of said company on the thirtieth day of June, A. D. 1886, to the best of his knowledge and belief. [L. 8. OF B. B..] (Signed)

C. F. MEEK.

Subscribed and sworn to before me, this 18th day of September A. D. 1886.

FOSHAY WALKER, (L. 8.]

Notary Public.

Received and Aled in the office of the Commissioners of Railroads, this 18th day of Sepmtember, A. D. 1886.

E. G. MORGAN, Secretary.

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25,000.00

Funded debt as follows:

50 bonds due June 1, 1901, June 1, 1906; rate of interest 6 per cent.....

Amount of interest paid on bonds taken up and canceled .. $ 1,750.00
May 10, 1886, at a meeting of the stockholders it was resolved to take up

the old bonds of the company for $25,000, which bear 7 per cent interest,
and execute new bonds for $50,000 at 6 per cent interest. The old bonds
have been taken up and caneeled and $25,000 of new bonds negotiated,
and $25,000 in hands of company.

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$

Total for equipment
Average cost of equipment per mile of road operated by company (12 miles)
Proportion of cost of equipment for Iowa ....

25,080.91

2,090 07 28,090.91

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CHARGES AND CREDITS BY WHICH THE CAPITAL AND DEBT HAVE BEEN INCREASED

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1

Property sold (or reduced in valuation on the books) and credited property
accounts during the year (specifying same):

Shrinkage figured on cars and motors....
Car No. 3 sold to Sioux City Street Railway Company.
Shrinkage on tools by wear and tear....
Car furniture worn out......
Car house at Marion sold at a loss of...
Fair ground line taken up, loss on same.

3,448.20 1,000.00

138.75

300.88

978.00 1,192.88

7,052.43.

Total.......
Net addition to property account for the year...

20,107.66

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CLASS 1-MAINTENANCE OF WAY AND BUILDINGS (CHARGED TO OPERATING EXPENSES).

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Salaries of general officers and clerks.
Legal expenses
Insurance
Stationery and printing
Outside agencies and advertising (extraordinary).
Rents (balance)......
Taxes in Iowa ...
Total taxes.....
General expenses.

22.30 258.97

84.75

.$

560.57

560.57

177.73

Total

3,545.74

.

RECAPITULATION OF EXPENSES.

Maintenance of way and buildings
Maintenance of motive power and cars.
Conducting transportation....
General expenses, including taxes.

3,784.86 1,190.01 11,084.27 3,645.74

Total operating expenses and taxes.....

19,564.88

1,629.57

Operating expenses and taxes per mile of road operated (12 miles)....

$ Proportion of operating expenses and taxes for Iowa ... Percentage of expenses to earnings, 83.

19,554.88

GENERAL EXHIBIT.

Total earnings....
Total expenses, including taxes..
Net earnings.....
Interest accruing during the year.
Interest paid during the year....
Interest paid during the year on account of the road in Iowa.....
Interest on funded debt....
Interest paid on funded debt.
Interest on floating debt.....
Interest paid on floating debt...
Dividends declared (11 per cent on $60,000.00).
Shrinkage on equipment....
Balance for the year ..
Balance at commencement of the year....

Balance at the close of the year, June 30, 1886!

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Stock dividend declared and certificates issued of same (11 per cent on $80,000.00.) As there were no partial shares issued, the company received in cash for any difference to make up for full shares.

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Net income above operating expenses, taxes, interest and rental......

13,535.38

8.89

Percentage of net income to stock and debt.......
Percentage of net income to cost of road and equipment......

8.78

SURPLUS.

Surplus at the commencement of the year...
Surplus at the close of the year....
The amount of its own stock or bonds owned by the company

The entire surplus has been expanded in construction and materials.

7,847.91 9,030.81 25,000.00

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