3,700,000.00

223,435.00

1,200,000.00

1,631,000.00

DEBT.
Funded debt as follows:
Main line bonds, due July 16, 1899, rate of interest, seven

per cent...........
Amount of interest paid on same during the year.....
Divisional bonds, due April 1, 1912, rate of interest, six per

cent.......... Amount of interest paid on same during the year Eastern Division bonds, due April 1, 1912, rate of interest,

six per cent... amount of interest paid on same during the year.. Illinois Division bonds, due April 1, 1912, rate of interest,

six per cent ..... Amount of interest paid on same during the year.. Coupon debt certificates, due at company's pleasure, rate of

interest, seven per cent..... Amount of interest paid on same during the year........... Consolidated bonds, due June 1, 1924, rate of interest, six

per cent..... Amount of interest paid on same during the year. None due. Car trust certificates..

1,517,000.00

629,000.00

110,142.65

508,000.00

19,622.46

Amount of debt per mile of road............

$
Amount of debt representing the road in Iowa.
Total amount of stock and debt...
Amount of stock and debt per mile of road..
Amount of interest paid representing the road in Iowa during

8,163,935.70 19,818,835.70

39,789.00

the year

223,435.00

COST OF ROAD AND EQUIPMENT.

18,844,302.87

Total expended for construction......
Average cost of construction per mile of road (498.023 miles)... $ 37,436.27
Proportion of cost of construction for Iowa...

18,221,985.88

COST OF EQUIPMENT.

Locomotives...
Snow-plows on wheels.....
Passenger, mall, baggage and express cars
Freight and other cars.........
Wrecking-cars, pile-drivers and tools.....

256,846.74

1,000.00 85,830.96 426,690.87

8,193.88

Total for equipment......

775,062.12

Average cost of equipment per mile of road operated by company (612.664

miles)..... Proportion of cost of equipment for Iowa, mileage basis..

1,511.86 626,086.00

Total cost of road and equipment.....

19,419,384.49

Average cost of road and equipment per mile owned (498.023 miles)....
Proportion of cost of road and equipment for Iowa......
Average cost of road and equipment per mile in Iowa owned(409.364 miles).

88,993.00 16,848,070.88

88,713.88 PROPERTY ACCOUNTS.

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

DURING THE YEAR.

Bridging and masonry.
Superstructure, including rails.
Land, land damages and fences.....
Passenger and freight stations, coal sheds and water stations.
Machine shops, including machinery and tools.....
Engineering, agencies, salaries and other expenses during construction....
Construction, Illinois division.......
Construction, Lyle extension....
Construction, telegraph line on Lyle extension...

2,398.12 14,635.23 4,741.92 8,406.68 4,369.52

123.94

9,850.71 2,102.23

368.59

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

144,178.55 20,158.20

39,847.84

Repairs of road-bed and track..
Renewal of rails......

Number tops laid, steel, 1,032 1,850-2,240.
Renewal of ties....

Number laid, 95,116 and nine set switch ties.
Repairs and renewal of bridges, including culverts and cattle-guards......
Repairs of fences, road-crossings and signs....
Repairs and renewal of buildings and machinery and tools therein, stations

and water tanks...

28,239.24 5,181.61

20,544.9j

Operating expenses and taxes per average mile of road, oper-
ated, 503.98 miles

2,053.36
Operating expenses and taxes per train mile run, for trains
earning revenue, 1,284.428 miles.......

80 57-100
Proportion of operating expenses and taxes for Iowa.....
Expenses of running and management of passenger trains........
Expenses of running and management of passenger trains, per train mile..
Expenses of running and management of freight trains...
Expenses of running and management of freight trains, per train mile
Expenses of running and management of all trains earning revenue........
Percentage of expense to earnings

77 31-100

856,680.13 161,273.44

45 35-100

873,581.30 94 06-100

80 57-100

GENERAL EXHIBIT.

1,333,513.97 1,034,854.74

303,659.23

7,185.47 544,888.00 254,383.00 223,435.00

Total earnings.....
Total expenses, including taxes.
Net earnings....
Rentals, specifying the amount paid to each company:

Minnesota & Northwestern Railroad Company
Interest accruing during the year..
Interest paid during the year
Interest paid during the year on account of the road in Iowa, bonds......
Interest on funded debt, bonds...

613,940.00
Interest paid on funded debt, bonds.

223,435.00 Interest on car trust certificates....

30,948.00 Interest paid on car trust certificates..

30,948.00
Interest falling due during the year and not paid.

355,612.50
Transportation certiicates liquidated during the year.
Balance for the year, deficit
Balance at commencement of the year.

17,312.10 265,728.34 237,162.83

28,573.51

Balance at the close of the year, June 30, 1886, deficit.....
Add. Charge to income account, account of previous years :

Repairs eastern division, 1884.
Interest on old accounts settled.....
Rental to Mercer County Bridge Company.

0,464.83 19,634.86 15,047.98