\ 4~-
OF THE
TO THE S TOCKH OLD ERS FOR THE FISCAL YEAR ENDED JUNE 30, 1933
4'
',V 4,
4 4
'-'4
Aru ft oft
in la
444
4 '44 24"'
'I'' '' '
I">
'44 "2' 444 44
'4' '2' '4
'
5"' 4'
4"4 '4
4,4'
A WN '
'4~~?
44 4',''4'4'
'44' 4~ '
4'
14':'44';
4" "4'"
'A '"'44'
4'' $4' '
54""
4'
4 '444
4"'" -44'
4444 7
''<110 ''4
'VI '41 A
A'l
''44 4' '
44,4~ *4~ 44'
4 4;
2'' . . . .4
4 :4
4 4 4
4" ' 4~ 4 4 '.4
4 4 4
4 ' ' 'A
4444~
4~4 ''.14'
444
'44''4 4
44 '. 4" 4"'3
4 .'. 44~ 44 /
4444
'4 ~4'.' 4 4'.44''.44.'44444'474'A
'7" "<
4 "l A
A'.'
D.:
.4 ..4 .. .. ..'.. '
'4 I'
~2
444
4444
>4
44*
4'' ''9
'4 '4 5444~
40
EIGHTY-FOURTH
ANNUAL
BOARD
REPORT OF OF DIRECT
OF THE
PANAMA RAIL ROAD
COMPANY
TO THE STOCKHOLDERS FOR THE FISCAL YEAR ENDED JUNE 30, 1933
WILBERT GARRISON CO.
82-84 BEEKMAN STREET, NEW YORK
THE ORS
TABLE OF CONTENTS
Page
List of Board of Directors and Officers............................ ......... 4
Letter of Transmittal ..................................................... 5
OPERATIONS UNDER THE NEW YORK OFFICE General Administration .................................................... 6
Panama Rail Road Steamship Line......................................... 7
OPERATIONS ON THE ISTHMUS
Financial:
Revenues from Operations on Lhe Isthmus............................. 8
Capital Jnvestment .................... ............................8
Reserve for Depreciation............................................. 9
Railroad Operations:
Revenue and Operating Expenses..................................... 9
General and Passenger Statistics...................................... 9
Freight Statistics................ ....... ............ ............ 9
Trackage .......................................................... 10
Rolling Stock ...................................................... 10
Business Operations on the Isthmus:
Harbor Terminals.................................................. 10
Coaling Plants..................................................... 11
Real Estate ........................................................ 11
Commissary ........................................................ 12
Manufacturing Plants .......................................... 13
Cattle Industry.................................................... 14
Dairy Farm................................................... 14
Plantations................................................... 14
Hotels............................................................ 14
Telephone and Electric Clock ........................................ 15
Staples ............................................................ 15
Baggage Transfer.................................................. 16
Interest and Exchange.............................................. 16
Expenditures under A. F. E.'s ........................................ 16
Completed Construction Work and Equipment.......................... 16
Construction Work in Progress ....................................... 16
TABLE OF CONTENTS-Continued
LIST OF FINANCIAL AND STATISTICAL TABLES
Financial: Page
Exhibit A, Statement of Income and Profit and Loss Account............ 17
Exhibit B, General Balance Sheet-Assets............................. 18
Exhibit B, General Balance Sheet-Li abilities.......................... 19
Exhibit C, Securities and Cash Fund Set Aside for Construction of Steamers 20 Table 1, Operating Revenue, Expenses and Net Revenue, 1932 and 1933.. 21
Table 2, Total Revenue, Operating Expenses, Net Revenue and Profit and
Loss from all Sources for the Fiscal Year ended June 30, 1933 22 Table 3, Capital Investment in Fixed Property, Equipment, etc.......24 Table 4, Material, Stock, Coal and Supplies............................ 25
Table 5, Reserve for Depreciation of Buildings, Plants and Equipment .... 26 Table 6, Railroad Operations, Revenue and Operating Expenses.......27
Table 7, Harbor Terminal Operation-Revenue, Expenses, Statistics,
"Canal Zone for Orders.. .............................. ..28
Table 8, Steamship Line Operations-Revenue and Expenses, 1932 and 1933 29 Table 9, Coal Plant Operations-Revenue, Expenses and Statistics........ 30 Table 10, Real Estate Operations-Revenue and Expenses 1932 and 1933 31 Table 11, Commissary Operations-Revenue and Expenses 1932 and 1933 32
Table 12, Commissary Purchases by Commodities; Location of Purchases;
Distribution of Sales............................ ........ 33
Table 13, Cattle Industry-Revenue, Expenses, Profit and Loss........... 34
Table 14, Dairy. Farm Operations--Revenue, Expenses, Profit and Loss. 35 Table 15, Plantations-Revenue and Expenses.......................... 36
Table 16, Hotel Tivoli Operations-Revenue and Expenses.............. 36
Table 17, Hotel Washington Operations-Revenue and Expenses.......... 37
Table 18, Telephone and Electric Clock Operations-Revenue and Expenses 37 Table 19, Stable Operations-Revenue and Expenses.................... 38
Table 20, Baggage Transfer Operations-Revenue and Expenses.......... 38
Table 21, Interest and Exchange-Revenue............................ 38
Statistical:
Table 22, Steamship Line Operations-Freight and Passenger Statistics 39 Table 23, Railroad Operations-General and Passenger Statistics........ 40 Table 24, Railroad Operations-Freight Statistics....................... 41
Table 25, Trackage, with Additions and Removals...................... 42
Table 26, Statement of Locomotives and Rolling Stock in service .... 43 Table 27, Statement of Expenditures under A. F. E.'s.................... 44
Table 28, Statement of Principal Items of Completed Construction Work
and Equipment added to Capital Account................... 45
Table 29, Construction Work in Progress at Close of Fiscal Year .... 46
PANAMA RAIL ROAD COMPANY
BOARD OF DIRECTORS
G. H. DERN A. L. FLINT ELWYN GREENE W. R.GRUBER
J. L. SCHLEY... T. H. ROSSBOTTOM C. S. RIDLEY... W. R.PFIZER..
V. M. NEWTON. R. B. WALKER. A. L. FLINT ....
ROY R. WATSON G. R. SELKIRK W. J. SHERIDAN T. S. SPRAGUE W. K. B. POTTS R. R. ROGERS ... JOHN 0. COLLINS
FRANK McINTYRE JAY J. MORROW F. H. PAYNE C. S. RIDLEY
OFFICERS.
*President e . . .
*Vice-President... .. .. ..
" Second Vice-President.... Assistant to Vice-President, and
Secretary..... .. .. ..
"Treasurer . . . . "General Manager.... .. .. "General Purchasing Officer Chiel Quarter-master .."Auditor . . . . "Commissary Purchasing Agent "Freight Traffic Manager... "Superintendent ...... "General Counsel..... .. .. "Counsel on the Isthmus...
R. R. ROGERS T. H. ROSSBOTTOM J. L. SCHLEY M. L. WALKER
" BALBOA HEIGHTS NEW YORK "BALBOA HEIGHTS
. NEW YORK "NEW YORK "BALBOA HEIGHTS "WASHINGTON "BALBOA HEIGHTS "NEW YORIC .NEW YORK "NEW YORK NEW YORK NEW YORK ANCON
GENERAL OFFICES
24 TAE TRET...... ............................... NEW YORK
24 STATE STREET
PANAMA RAIL ROAD COMPANY
New York November 30, 1933
To THE STOCKHOLDERS:
I respectfully submit for your consideration a report of the Company's business and resulting financial condition for the twelve months from July 1, 1932, to June 30, 1933.
In that connection I would call your particular attention to the suboined detailed statements that cover the operation and maintenance of the Company's property.
The operation of the railroad and its appurtenances jointly with the steamship line resulted in a not income of $889,230.13, a decrease of $10,277.11 under last year. From this must be deducted profit and loss adjustments affecting previous years' operations, amounting to $14,768.35. This leaves a gross surplus of $874,461.78; deducting therefrom an 'additional dividend of $5,281.25 paid during the year makes a net surplus of $869,180.53, which is the amount added to the Company's surplus.
This result is arrived at after meeting all costs of operation, and allow. ing for charges to income aggregating $23,211.13 and depreciation of rolling stock, floating and plant equipment of $654,514.23. While the operating revenues were not as high as in the previous years, the profits accruing from railroad and business operations are satisfactory, considering the world-wide depression affecting business. The net income was 1.14 per cent less than in 1932.
In accordance with provisions in the War Department Appropriation Act, approved July 14, 1932, your company deposited in the Treasury of the United States special dividends aggregating $2,800,000 to be applied to the maintenance and operation of The Panama Canal. These funds were expended on the construction of the Madden Dam. The amount withdrawn from the funds of your Company was far in excess of its net earnings during the year and of necessity came from surplus and reserves. The accumulation of reserves for necessary replacements has been a fundamental policy of your Company, which has operated successfully under both private and Government ownership, and the strength, reliability and initiative of the Company in its many important services have rested upon conservative principles of management. It is important that its capital be not so depleted by further detachments for unrelated uses as seriously to weaken the Company and render it less capable of performing its services for the Panama Canal and the Government of the United States.
Respectfully submitted,
JL. SCHLEY,
President.
6 PANAMA RAIL ROAD COMPANY
OPERATIONS OF NEW YORK OFFICE
GENERAL ADMINISTRATION
On November 14, 1932, the Board of Directors accepted the resignation of Brig. General H. Burgess as President and as Director of the Company, and adopted resolutions expressive of their appreciation of the valuable services rendered by him for the past eight years during an especially trying period of business depression when his wise counsel contributed in no small measure to the successful operation of the corporation.
On November 14, 1932, Lt. Col. J. L. Schley was elected President; and on the same date, Lt. Col. C. S. Ridley was elected a Director in place of General Burgess, and Second Vice-President in place of Col. Schley.
It was with sincere regret that the Directors learned of the sudden death of General Burgess on March 18, 1933, following a major operation.
On May 8, 1933, the resignation of Mr. John Taber as a Director was accepted; and the Board of Directors adopted resolutions expressive of their appreciation of the valuable services he had rendered to the Company.
In last year's report, reference was made to the declaration by the Board of Directors at its meeting held June 28, 1932, of a dividend in cash equal to the proceeds of $2,800,000. par value 31% United States Government bonds of 1946-49. The amount realized from the sale of these bonds, at an average price of 99-26/32, was $2,794,718.75. On April 3, 1933, an additional dividend of $5,281.25 was declared so as to make the total payment $2,800,000.; and on May 23, 1933, final payment was made on account of this dividend, amounting to 40%7 upon the capital stock of the Company.
Since 1904, when the United States Government secured control of the Company, dividends, aggregating 125%7 upon the capital stock, have been declared by the Directors, and dividend payments amounting to $8,744,905. have been deposited with the Treasury of the United States. During the same period, the 'capital assets of the Company have increased from $11, 421,117.93 to $35,390,896.79 through the employment of part of the earnings of the Company for the purchase of locomotives and other rolling stock, the construction of concrete docks, commissary buildings, plants, and necessary equipment, the installation of modern telephone system throughout the Canal Zone, and similar improvements necessary for the economical and efficient conduct of the Company's business.
Salary adjustments of the personnel afloat and ashore have been made in accordance with the provisions of the Economy Bill passed by Congress.
Following the usual practice, Haskins & Sells, Certified Public Accountants, have audited the general books and accounts of the Company that are kept in New York, as well as the accounts of the Trustees of the
PANAMA RAIL ROAD COMPANY
Pension Fund. They have verified the cash and securities held in New York in the custody of the officers, the Committee of Securities of the Board of Directors, and the Trustees of the Pension Fund; and they have accepted the report of the Auditor of the Panama Canal in the Canal Zone of his verification of the Company's cash on hand at the Isthmus that is held by the Collector and Paymaster of the Panama Canal. The accounts covering the operations of the Company on the Isthmus are based upon monthly reports rendered by the Auditor of the Panama Canal, who is in charge of the auditing of the Isthmus accounts of the Company and of the Panama Canal.
PANAMA RAIL ROAD STEAMSHIP LINE
The gross operating revenue of the Steamship Line from the transportation of freight, passengers, and mail during the fiscal year that ended June 30,.1933, was $939,880.67 as compared with $1,231,241.59 during the previous year. There was a decrease of 24,281 tons in the cargo carried, causing a decrease in freight revenue of $212,241.05; a decrease of 996 in the number of passengers carried, causing a decrease in passenger earnings of $44,908.93; and a decrease in mail earnings of $34,210.94, making a total decrease in revenue of $291,360.92.
Operating expenses, which included charges to depreciation of $125,329.52, amounted to $1,260,365.32, as compared with $1,528,321.50 during the previous year, a decrease of $267,956.18. This resulted in an operating deficit of $320,484.65 as compared with $297,079.91 in 1932.
Freight traffic of the Panama Canal and other Departments of the United States Government was carried at a reduction of 25% from established tariff rates. Passenger traffic for account of these Government Departments, including Panama Canal employes and their families, was carried at reductions from established -tariff rates that range from 25%7 to 80%. These reductions in freight and passenger charges amounted to $420,642.54. Had the Steamship Line been credited with its tariff rates on this freight and passenger traffic carried for account of the Government, its operations would have resulted in a profit of $100,157.89. The number of passengers carried for account of the Government was
4,752 adults
697 children under 12 years of age
227 inf ants under 3 years of age.
The Company's steamships have been maintained in good operating condition, and are periodically inspected and approved by the United States Steamboat Inspection Service.
8 PANAMA RAIL ROAD COMPANY
OPERATIONS ON THE ISTHMUS
REVENUES FROM OPERATIONS ON THE ISTHMUS
The gross receipts from sales and services furnished during the fiscal year 1933 amounted to $11,135,557.90. The cost of sales, including operating expenses, amounted to $10,370,809.90, leaving a net revenue of $764,748.00. Adding thereto interest and exchange and miscellaneous profit and loss items amounting to $19,684.28, results in a net income of $784,432.28 for the year as compared with $782,464.49 for the fiscal year 1932, an increase of $1,967.79, or one-fourth of one per cent, as compared with a decrease of 21 per cent the preceding fiscal year. This increase is accounted for by an increase in the net revenue from the operations of the railroad proper, the harbor terminals, telephones and electric clocks and a decrease in the losses on coal and hotel operations. There was a decrease in the net revenue from commissary, real estate, cattle and dairy operations. Report of the gross revenue, operating expenses and net revenue of the operating units on the Isthmus is shown in Tables No. 1 and 2.
CAPITAL INVESTMENT
The total capital investment of the Panama Rail Road and its various business interests on the Isthmus in real estate, coal, commissaries, supplies, plant equipment, etc., cattle, dairy stocks, and material, at the close of the fiscal year amounted to $34,277,152.14 as compared with $34,937,897.76 in 1932, a decrease of $660,745.62 or 1.89 per cent. Details are shown in Tables 3 and 4. The principal changes during the year were as follows:
INCREASE DECREASE
Railroad, proper.............................................. $ 20,500.00
Harbor terminal............................................... 26,100.00
Coaling plants................................................ 50,700.00
Telephone.................................................... .-1,100.00
Real estate................................................. $358,800.00
Hotels...................................................... 7,000.00
Cattle industry................................................ 6,000.00
Commissaries.................................................. 569,600.00
Uncompleted construction...................................... 352,800.00
The decrease in the railroad proper was largely due to decrease in stock of maintenance of way materials on hand; that of the harbor terminals to decrease in equipment; that of the coaling plants to stock of coal on hand; that of the commissaries to lessened value of plant and stock of merchandise; and that in uncompleted construction to completion of buildings and the inclusion of their value under real estate.
PANAMA RAIL ROAD COMPANY
RESERVE FOR DEPRECIATION
The total reserve for depreciation set aside to date amounted to $7,219,107.65 at the close of the fiscal year, as compared with $6,907,346.17 for the previous fiscal year, an increase of $311,761.48 or 4.5 per cent. Itemized statement will be found in-Table No. 5
RAILROAD OPERATIONS
REVENUE AND OPERATING EXPENSES
The total revenue from the operations of the railroad proper during the fiscal year amounted to $1,328,229.81. The total operating expenses were $1,204,305.19, leaving a net revenue of $123,924.62 for the year, as compared with $56,588.80 for the previous year, an increase of $67,335.82 or 118 per cent. Classification of the operating revenue and expenses is presented in Table No. 6.
GENERAL AND PASSENGER STATISTICS
The gross revenue per mile of road operated decreased $2,215.70, compared with 1932, and operating expenses per mile of road decreased $3,630.02, resulting in a net increase of $1,414.32 in net revenue per mile of road. Revenue train mileage decreased 7,069 miles as compared with 1932. Locomotive mileage decreased 18,887 miles.
Gross revenue from passengers transported, including baggage, mail, express, special trains, motor cars, etc., amounted to $464,313.04. Passenger transportation expenses, based on pro rata of train and locomotive mileage, were charged at $501,753.08, resulting in a deficit of $37,440.04 as compared with a deficit of $60,413.82 for the preceding year.
There were 363,109 passengers transported during the year, as compared with 409,954 in 1932, a decrease of 46,845 passengers for the year, or 11.4 per cent. Detail of passenger traffic is stated in Table No. 23.
FREIGHT STATISTICS
Gross revenue from freight transported, including switching, demurrage, storage, etc., during the fiscal year amounted to $799,003.27. Freight operating expenses based on pro rata of train and locomotive mileage were charged at $637,638.61, leaving a net revenue of $161,364.66, as compared with $117,002.62 for the previous year, an increase of $44,362.04 for the year, or 37.9 per cent.
The freight revenue tonnage transported during the year amounted to 292,525 tons, as compared with 263,527 tons for 1932, an increase of 28,998 tons, or 11.0 per cent. The revenue ton miles amounted to 9,975,763 and increased 337,505 or 3.3 per cent as compared with 1932 tonnage. Local and through commercial freight decreased in ton-miles by 992,915 but an increase in Canal freight of 1,303,081 ton-miles occasioned an increase in the total ton-mileage of freight handled.
Itemized classification of freight movement is presented in Table No. 24.
10 PANAMA RAIL ROAD COMPANY
TRACKAGE
The total trackage maintained by the roadmaster during the fiscal year, including Panama Rail Road, Panama Canal, and United States Army trackage, amounted to 145.66 miles as compared with 145.91 miles for the previous year, or a decrease of .25 miles. This represents the difference in miles of old track taken out and new tracks laid.
During the year a total of 3.323 miles of main line track were relaid with new 90-pound rail; all on the Pedro Miguel section.
Data on track maintenance are given in Table No. 25.
ROLLING STOCK
At the close of 'the fiscal year there were 11 road locomotives, 12 yard locomotives, 55 passenger cars, 1,034 freight cars, 3 motor cars and six pieces of miscellaneous equipment in service. No new cars were built during the year and no alterations of consequence made to cars or locomotives with the exception of the installation of wash basins with running water in the toilets of first-class coaches. It was decided that there were too many cars of certain classes for operating economy and these cars were not repaired but were taken out of service as fast as they wore or deteriorated to a point requiring rebuilding or heavy repairs. At the end of the year there were 123 such cars set out. Of the remaining freight equipment, 104 cars were classed as in excellent condition, 440 in very good condition, 294 in good condition, and 133 in poor condition. The cost of car maintenance during the year was $174,680.61 which covered heavy repairs to 291 pieces of equipment and light repairs to 1,182 and includes $21,216.13 for painting of 29 coaches. The total cost of locomotive overhauls and maintenance during the year was $84,933.60 which included $25,961.99 for heavy repairs to seven locomotives. The combined cost of car and locomotive maintenance, $259,614.21, was less by $122,100.56 than the expenditure for such work in 1932.
A summary of rolling stock on hand and in service as of June 30, 1933, is presented in Table No. 26.
BUSINESS OPERATIONS ON THE ISTHMUS
HARBOR TERMINAL OPERATIONS
The gross revenue from harbor terminal operations during the fiscal year was $1,257,256.58, and operating expenses were $899,804.72, leaving a net revenue of $357,451.86 as compared with $286,379,97 in 1932, an increase of $71,071.89, or 24.8 per cent, for the year. The gross tonnage of cargo stevedored, handled, and transferred during the fiscal year amounted to 1,357,369 tons, as compared with 1,301,370 for the previous year, an increase of 55,999 tons, or 4.3 per cent. Cargo stevedored amounted to 331,241 tons during the fiscal year, as compared with 311,836 tons for the previous year, an increase of 19,405 tons or 6.2 per cent.
During the year "Hold for Orders" cargo amounting to 10,979 tons was received and 10,948 tons were reforwarded and delivered locally, as
10
PANAMA RAIL ROAD COMPANY 1
compared with 14,001 tons received and 14,886 tons reforwarded and delivered locally in 1932. The revenue f or handling and storage amounted to $28,033.91 as compared with $37,159.87 for the previous year, a decrease of $9,125.96 or 24.6 per cent f or the year.
During the year 3,593 cargo ship's and 900 banana schooners were handled, as compared with 3,480 cargo ships and 1,020 schooners last year. Agency services were furnished to 197 vessels as compared with 192 in the preceding year.
A summary of harbor terminal operations is presented in Table No. 7.
COALING PLANTS
The total revenue from the sale of coal, and charges for extra handling during the year amounted to $261,716.07. The cost of sales, including operating expenses, was $332,494.02, resulting in a net loss of $70,777.95, as compared with a loss of $159,932.23 last year. During the year 41,945 tons of coal were purchased and 39,327 tons were sold. This was the lowest volume for a year since the establishment of the plants.
The selling price of coal remained the same during the entire year: At Cristobal, run-of-mine $6.25 per ton and nut and slack at $5.25 per ton, both prices including trimming in bunkers; at Balboa, run-of-mine only at $9.25 per ton, trimmed in bunkers.
The gold and silver operating maintenance forces were placed on practically a half-time working basis, on November 1, 1931, due to the decreased coal sales and operation, thereby effecting a considerable saving in payrolls, and, at the same time, continuing in service the greatest number of employees consistent with conditions. This method of employment was continued throughout the fiscal year 1933.
Effective October 1, 1932, the Coaling Plants organization was consolidated with that of the Receiving and Forwarding Agency and all administrative and office work was transferred to the office of the Receiving and Forwarding Agent, which resulted int a further reduction of expenses.
REAL ESTATE OPERATIONS
Rental from lands and buildings during the year amounted to $269,533.14. Operating expenses were $110,532.25, leaving a net revenue of $159,000.89, as compared with $221,290.64 in 1932, a decrease of $62,289.75, or 28.2 per cent for the year. There were in effect at the close of the fiscal year 1,430 leases and 17 licenses covering the use of Panama Rail Road properties in the cities of Colon and Panama. Statement of revenues and expenses is presented in Table No. 10.
In the decrease in revenue, $43,871.95 was due to a discount of 25 per cent given to all lessees who were paying the full commercial rental and who paid their accounts for the first three quarters of the fiscal year before April 30, 1933. This reduction was given as a relief measure due to depres-
11
12 PANAMA RAIL ROAD COMPANY
sion in business and the consequent reduction in earnings on real estate amounted to $43,871.95.
The policy of disposing of real estate holdings in the city of Panama which are not used for business purposes was continued. During the year, lands comprising 147.18 square meters were sold for $10,302.60 or $70.00 per meter, bringing the total sales to the close of the year to $700,788.04.
COMMISSARY OPERATIONS
The gross receipts from sales and services during the fiscal year amounted to $7,313,380.84. The total cost of sales and services was $7,015,148.28, leaving a gross profit of $298,232.56. Deducting therefrom buildings written off to commissary profit and loss in amount of $73,355.98 leaves a net profit of $224,876.58 for the year, as compared with $330,711.35 for 1932, a decrease of $105,834.77 or 32 per cent.
The volume of business transacted during the year averaged $609,448.40 per month, as compared with $695,602.19 per month for the previous year, a decrease of $86,153.79, or 12.4 per cent per month. Total sales to steamships amounted to $552,248.57, including $252,516.25 to United States Naval vessels. The average stock turnover was once every 2.74 months.
Sales to commercial vessels for the past four years, showing decrease under previous year and percentage of decrease, are presented in the following tabulation:
TOTAL SALES TO DECREASE UNDER PERCENTAGE OF FISCAL YEAR COMMERCIAL VESSELS PREVIOUS YEAR DECREASE
1930 $1,098,971.12 $ 35,915.63 3 1931 789,365.78 309,605.34 28 1932 458,943.30 330,422.48 42
1933 294,416.69 164,526.61 35.85
The sales in 1933 -were 425.9 per cent of those in 1929, which amounted to $1,13,86.75.
12
PANAMA RAIL ROAD COMPANY 1
MANUFACTURING PLANTS
Following is a comparative statement of the output of the manuf acturing plants (principal items) f or the fiscal years 1930 to 1933:
1930 1931 1932 1933
LAUNDRY:
Pieces handled.......6,966,128 Value of output .......... $ 265,321.81
BAKERY:
Bread, loaves............
Rolls, each.............
Cakes, lbs...............
Crackers, lbs.............
Value of output......
COFFEE ROASTING PLANT:
Coffee, lbs..............
Corn and cornmeal.......
Peanuts, lbs.............
Value of output......
7,208,634 6,789,634 6,529,906 $273,933.52$ 250,787.67 $ 237,988.38
5,180,361 5,461,573 2,329,682 2,175,602
72,708 71,024 280,512 381,347 323,717.01 $ 324,628.30
227,095 228,160 30,950 39,940 46,902 44,248 103,309.16 $ 83,509.97
5,131,580 1,717,399
70,160
438,222 $ 306,437.02
247,792
24,433 27,164 $ '77,711.04
4,964,778 1,623,505
60,263 393,572 $286,842.65
253,135
28,254 17,377 $71,236.43
ICE MANUFACTURING PLANT:
Ice Manufactured, tons ... 34,275 Value of output. .. .. o.....$ 304,794.59
ICE CaEAM AND MILK BOTTLING PLANT:
Ice Cream manufactured,
gals ........................39,809
Milk bottled, qts ............ 558,629
Cream bottled, qts. .....a.....22,021
Value of output .......... $ 210,948.68
SAUSAGE FACTORY & PICKLING DEPT.:
Sausage products, lbs. 760,434 Hamburger steak, lbs. 180,717 Corned beef, lbs............ 93,483
Smoked meats, lbs .......... 19,830 Corned products, lbs.......72,298 Value of output .......... $ 270,067.78
INDUSTRIAL LABORATORY:
.Value of output........... $ 248,259.91
ABATTOIR:
Cattle killed, head .... 8,347 Value of output......... $ 591,611.61 Value of total output .... $2,3185,30.55
33,022 27,930 28,388 $260,677.49 $ 214,504.39$ 206,657.38
44,891 725,392
26,237 $252,887.37
616,013 163,627 91,028 15,721 81,380 $228,651.92
51,832
844,908
22,904 $269,181.17
449,939 123,596 53,337
14,193 109,535 $150,051.90
58,630 841,690
24,081 $259,98.53
342,646 55,226 31,572
9,104
195,996 $102,250.85
$251,945.45 $ 233,957.86 $ 216,662.47
9,697
$ 640,918.70 $2,317,152.72
4,678
$ 260,395.38 $1,763,026.43
2,245
$ 124,465.53 $1,506,092.22
The total value of the output during the four years shows a decrease in value of from $2,318,030.55 to $1,506,092.22 or 35 per cent. During the same period transits of vessels through the Canal decreased by about 24 per cent.
13
14 PANAMA RAIL ROAD COMPANY
The established policy of making purchases in the United States whenever practicable was continued, but there are certain items which the patrons demand whi ch can not be secured in the United States, and others on which the prices, plus the cost of freight and handling, make it impossible to sell them because customers can purchase foreign-made goods in other markets at lower prices. In such cases it is the policy to give a margin of preference to the American product in making purchases for the commissary stock.
Statements of sales and expenses, and of purchases by class and location, and distribution of sales are presented in Tables Nos. 11 and 12.
CATTLE INDUSTRY
Gross revenue from sale of cattle and other products during the fiscal year amounted to $112,790.70. The cost of cattle sold, including operating expenses amounted to $108,734.24, leaving a net profit of $4,056.46 compared with a net profit of $30,644,66 for the fiscal year 1932.
At the beginning of the fiscal year, there were 132 head of cattle on hand. Purchases during the year amounted to 1,857 head. During the year 1,984 head were turned into the Commissary Division for slaughter, and 5 head died, leaving none on hand at the end of the fiscal year.
A summary of cattle operations is presented in Table No. 13.
DAIRY FARM
Operations of the dairy farm for the fiscal year resulted in a net profit of $12,419.62 as compared with a net profit of $17,979.28 for the fiscal year 1932.
At the beginning of the fiscal year there werc 675 head of cattle on hand, 103 head were purchased, 82 calves were born; 93 head were turned into the Commissary Division for slaughter, 14 head died, 2 sold to individuals or companies, leaving 751 head on hand at the close of the year. Milk in the amount of 208,525 gallons was produced, of which 203,050 gallons were sold to the Commissary Division and 5,475 gallons were fed to calves. During the year the price of milk was reduced to 56 cents per gallon.
Detail of revenues and expenses is presented in Table No. 14.
PLANTATIONS
Revenue from plantation operations during the fiscal year amounted to $2,460.68, and operating expenses were $1,407.19, resulting in a net profit of $1,053.49, as compared with a net profit of $1,456.19 for the previous fiscal year. All plantations continued being operated under contract.
Detail of revenues and expenses is presented in Table No. 15.
HOTEL OPERATIONS
Hotel Tivoli: The gross receipts from the operation of the Hotel Tivoli during the fiscal year were $110,250.48, and the operating expenses were
14
PANAMA RAIL ROAD COMPANY 1
$170,769.40, resulting in a net loss of $60,518.92 for the year as compared with a net loss of $61,571.39 for the previous year. Operating expenses include increases in unexpended reserves totalling $11,325.60.
Details of revenue and expenses are shown in Table No. 16.
The operation of this hotel by the Panama Rail Road during the past four years shows a gross difference of expenses over revenues of $190,833-.63. However, included in the charges to expenses for this period were $30,000.00 annually or a total of $120,000.00, paid to The Panama Canal for amortization of The Panama Canal building and equipment and $54,713.83 in unexpended reserves, leaving a total of $174,713.83 for the expenses, as charged, still in the possession of the Government, so that the actual cash operating outlay during the four years was $16119.80 more than the gross revenue for the same period.
Hotel Washington: The gross receipts from the operation of this hotel for the fiscal year were $85,288.00. The operating expenses were $128,656.12, resulting in a net loss of $43,368.12 as compared with a net loss of $48,590.52 for the previous year. The operaing expenses included a charge of $11,106.86 as a reserve for the replacement of buildings and equipment. Statement of revenue and expenses is shown in Table No. 17.
The decrease in revenues from both hotels was caused by the general business depression and the decrease in tourist travel. As the hotels are considered essential adjuncts to the canal and railroad in affording suitable accommodations to people having business with the canal or railroad, foreign visitors, tourists, visiting Government officials, and others, their continued operation under the present policy seems justified.
TELEPHONE AND ELECTRIC CLOCK OPERATIONS
Gross revenue from telephone and electric clock operations, including the rental from telegraph printing machines, amounted to $242,089.20. Operating expenses were $185,810.23, resulting in a net profit of $56,278.97, as compared with a net profit of $50,042.89 for the fiscal year 1932, an increase of $6,236.08.
During the year 980 telephones were re-connected or installed and 1,163 were discontinued or removed, resulting in a net decrease of 183 telephones for the year. At the close of the fiscal year there were 2,766 telephones, 64 electric clocks and 26 printing telegraph machines in service.
Statement of revenue and expenses is shown in Table No. 18.
STABLE OPERATIONS
The gross revenue from the stable operations for the fiscal year was $16,539.34. Operating expenses were $15,452.16, leaving a net profit of $1,087.18 as compared with a net profit of $3,159.90 for the previous fiscal year. Details are shown in Table No. 19.
15
16 PANAMA RAIL ROAD COMPANY
BAGGAGE TRANSFER OPERATIONS
Gross revenue from baggage transfer operations during the fiscal year was $10,216.75. Operating expenses were $10,953.43, resulting in a net loss of $736.68 as compared with a net loss of $3,251.45 for the previous year. Detail is presented in Table No. 20.
INTEREST AND EXCHANGE
The revenue from interest and exchange on the Isthmus for the fiscal year amounted to $19,287.18, compared with $15,239.25 for the fiscal year 1932, an increase of $4,047.93. Detail is shown in Table No. 21.
EXPENDITURES UNDER A. F. E.'s
A total of approximately $121,300.00 was expended under 47 authorities for expenditure during the fiscal year, bringing the total expended on these A. F. E.'s to approximately $515,000.00. These were for a wide variety of operations as shown in Table No. 27.
COMPLETED CONSTRUCTION WORK AND EQUIPMENT
The principal items of construction. added to the capital account during the fiscal year were: Municipal improvement and filling of six blocks -of unimproved land in the city of Colon; Municipal improvement to the Santa Cruz area, Panama City; twelve Teletype machines; wig-wag signals at grade crossings at Corozal and Balboa Heights; and two new dry tumblers for the Ancon Laundry. A summary is presented in Table No. 28.
CONSTRUCTION WORK IN PROGRESS
At the close of the fiscal year construction work, of which the estimated cost is $44,097.51, was in progress. The principal items of such work were: Equipment for telephone service to serve the Madden Dam Project; construction of yard office building in Balboa Yard; new equipment for Ancon Laundry; refrigerated water coolers in Commissary Division units; and improvements to refrigerating. system at Ancon Commissary. A summary is presented in Table No. 29.
16
PANAMA RAIL ROAD COMPANY
17
EXHIBIT A STATEMENT OF INCOME AND PROFIT AND Loss ACCOUNT FOR THE FISCAL YEAR ENDED JUNE 30, 1933 INCOME ACCOUNT
NET OPERATING REVENUE:
Railroad-Table No. 6..............................
Harbor Terminals-Table No. 7.......................
Steamship Line-Table No. 8.........................
Coal Plants-Table No. 9............................
Real Estate-Table No. 10............................
Commissary-Table No. 11..........................
Cattle Industry-Table No. 13.......................
Dairy Farm-Table No. 14 ..........................
Plantations-Table No. 15...........................
Hotel Tivoli-Table No. 16...........................
Hotel Washington-Table No. 17......................
Telephone and Electric Clock-Table No. 18............
Stables-Table. No. 19...............................
Baggage Transfer-Table No. 20.....................
Miscellaneous......................................
Total Net Operating Revenue ....................
INCOME CREDITS:
Interest and Exchange-Table No. 21 .................
GaOSS INCOME FOR FISCAL YEAR:
INCOME CHARGES:
Contribution to Pension Fund:.......................
NET INCOME FOE THE FISCAL YEAR-Table No. 2............
$123,924 62 357,451 86 (320,484 65) (70,777 95) 159,000 89 224,876 58
4,056 46 12,419 62 1,053 49 (60,518 92) (43,368 12) 56,278 97 1,087 18 (736 68) 397 10
Denotes a deficit.
PROFIT AND LOSS ACCOUNT
CREDITS :
Net Income for Fiscal Year ended June 30, 1933, as above.
Profit from sale of Securities ........................
Total Credits...................................
CHARGES:
Writing off track removals ..........................
Writing off capital value of barge No. 87, constructed in
1910, transferred to Panama Canal for use as garbage and landing barge. No longer serviceable for general use
Injury claim applicable to prior period................
Adjustment of freight revenue, prior periods...........
Adjustment of inventories ..-............
Miscellaneous items................................
Total Charges..................................
GROSS SURPLUS FOR YEAR ENDED JUNE 30, 1933 .............
LESS:
Special dividend declared so as to make the total dividend
payment $2,800,000.00 instead of the proceeds of sale of $2,800,000.00 par value U. S. Government bonds ... NET SURPLUS FOR YEAR ENDED JUNE 30, 1933..............
SURPLUS AT JULY 1, 1932...............................
TOTAL SURPLUS, JUNE 30, 1933............................
$4,790 00
10,561 25 1,000 00 4,724 05 3,640 52 1,162 00
$444,660 45 467,780 81 912,441 26 23,211 13 $889,230 13
$889,230 13
11,109 47
900,339 60
25,877 82 874,461 78
5,281 25
869,180 53 35,756,725 66
$36,625,906 19
18 PANAMA RAIL ROAD COMPANY EXHIBIT B
COMPARATIVE CONDENSED GENERAL BALANCE SHEET, JUNE 30, 1932 AND 1933 ASSETS
Capital investment in railroad, piers, plants,
real estate, buildings and appurtenances, as detailed in Table No. 3...............
Nominal value of contract of concession from
the Republic of New Granada dated 1850, modified by contract with the United States of Colombia in 1867, confirmed by Republic of Panama in 1903, and expiring in 1966.. Capital investment in floating~ and shore
equipment, as detailed in Table No. 3 ....
Total Capital Investments.............
CURRENT ASSETS:
Cash in Banks and on Hand:
New York-Treasurer................
isthmus-Paymaster ........
Isthmus-Collector.....................
Notes Receivable.......................
Due from Agents ... *** Due from Connecting Carriers...........
Due from United States Govt. Departments.
Due from Individuals and Companies ..
Total Current Assets.................
Cost of commissary, railroad and other supplies, coal, material, etc., on hand and in transit on June 30, 1933, as outlined in Table No. 4...........................
DEFERREo ASSETS:
Working funds held by Agents, Pursers, etc. Other deferred assets....................
Total Deferred Assets.................
DEFERRED DEBIT ITEMS:
Rent and insurance premiums paid in advance ........ :...............
Items covering expenditures already incurred that are to be absorbed into operating expenses:
General and Extraordinary Repairs, Steamers............................
Sundry Accounts.......................
Total Deferred Debit Items............
Cost of securities representing reserve for accrued depreciation and replacement of property and equipment-as it becomes obsolete or worn out, the details of the depreciation being indicated in Table No. 5. Consisting of:
Market Value
Cost Jusne 30, 1933 U. S. Treasury:
3 % Bonds .. $1,299,593.75 $1,286,593.75 31/ % Bonds. 4,530,4,37.50 4,504,218.75 33/4 % Bonds. 410,687.50 420,375.00 4 % Bonds .. 1,240,390.63 1,280,250.00
Ctfs. of Indebtedness 41,-% 84,000.00 85,522.50
N. Y. State
4% Bonds ... 13,385.00 12,155.00 New York City
41/ % Bonds. 566,435.75 504,200.00
$8,142,930.13 $8,093,315.00
Fund set aside for the construction of steamers, created May 24, 1911, and outlined in Exhibit C (market value June 30, 1933$4,054,980.00) in the custody of the Comnmittee of Securities of the Board of Directors ........................... ......
TOTAL..................
1933
$32,924,151 10
1 00
2,466,744 69 $35,390,896 79
$645,622 12 1,077,714 12 81,524 64
235,000 00 117,281 39
4,020 33
337,393 82 138,667 19 $2,637,223 61
$1,642,032 43
$25,326 25
126,624 40
$151,950 65
$17,064 75
11,170 40
164,387 77
$192,622 92
$8,142,930 13'a
4,786,737 63 $52,944,394 16
1932
$33,207,547 47
1 00
2,466,744 69 $35,674,293 16
$1,116,246'34 2,085,697 39 134,676 45 285,000 00 99,983 97
4,493 93
3383,038 67 136,420 32 $4,200,557 07
$2,028,705 39
$20,350 00
134,274 40
$154,624 40
$12,481 31
887 00
201,412 332 $214,780 64
$7,581,977 00
I I I
4,513,29 91 273,307 72 Inc. $5436836757$1,423,973 41 Dec.
COMPARISON
$283,396 37 Dec.
$283,396 37 Dec.
$470,624 22 Dec. 1,007,983 27 Dec.
53,151 81 Dec.
50,000 00 Dec.
17,297 42 Inc.
473 60 De(.
644 85 Dec.
2,246 87 Inc. $1,563,333 46 Dec.
$386,672 96 Dec.
$4,976 25 Inc.
7,650 00 Dec.
$2,673. 75 Dec.
$4,583 44 Inc.
10,283 40 Inc.
37,024 56 Dec.
$22,157 72 Dec.
$560,953 13 Inc.
I t
4,513,429 91 $54,36S,1367 57
PANAMA RAIL ROAD COMPANY
19
EXHIBIT B COMPARATIVE CONDENSED GENERAL BALANCE SHEET, JUNE 30, 1932 AND 1933 LIABILITIES
Capital Stock-70,000 shares of par value
of $100.00...........................
CURRENT LIABILITIES.
Dividend declared June 28, 1932 payable
during fiscal year 1932-19830......... Accounts Payable ......... New York................ $334,483.61
Isthmus................... 42,000.65
Salaries and Wages Payable ..........* *
New York................. $ 60.74
Isthmus................... 116,547.43
Balance due Connecting Carriers..
Sundry Creditors......................
Total Current Liabilities.............
DEFERRED CREDIT ITEMS:
Commissary Coupon Book receipts ..
Mileage Book receipts................
Passenger Agents receipts............
Items covering collections already made
but not distributed to income up to
June 30, 1933...........
Total Deferred Credit Items..........
ACCRUED DEPRECIATION:
For replacement of property and equipment as it becomes obsolete or worn out, as detailed in Table No. 5..
Reserve set aside for extraordinary repairs and dredging of harbor terminals
Operating reserves ..................
Total Reserves ....................
Profit and Loss Surplus ................
Total............................
1933
1932
$7,000,000 001 $7,000,000 001
376,484 26 116,408 17
8,154 14 15,005 51 $516,052 08
2,800,000 00 277,585 53
136,193 06
COMPARISON
82,800,000 00 Dec.
98,898 73 Inc.
19,784 89 Dec.
5,603 97 2",550 17 Inc. 3,343 19 11,662 32 Inc.
$3,222,725 75
$2,706,673 67 Dec.
$93,337 11 $107,278 42 $13,941 31 Dec.
5,859 45 5,885 92 26 47 Dec.
7,497 00 4,984 50 2,512 50 Inc.
45,785 23 56,122 70 10,537 47 Dec. $152,478 79 $174,271 54 $21,792 75 Dec.
$8,536,027 82 $8,098,936 82 $437,091 00 Inc.
100,000 00 100,000 00
13,929 28 15,707 80 1,778 52 Dec. $8,649,957 10 $8,214,644 62 $435,312 48 Inc.
$36,625,906 19 $35,756,725 66 $52,944,394 16 $54,368,367 57
$869,180 53 Inc. $1,423,973 41 Dec.
20 PANAMA RAIL ROAD COMPANY
EXHIBIT C
SECURITIES AND CASH FUND SET ASIDE FOR CONSTRUCTION OF STEAMERS, IN CHARGE OF COMMITTEE OF SECURITIES
JUNE 30, 1933
PAR VALUE BOOK VALUE
Albany & Susquehanna Rail Road Co., First 3 2% Bonds, 1946 $ 10,000 00 $ 8,550 00 Atchison, Topeka & Santa Fe Railway o General 4% Bonds, 1995 100,000 00 95,553 75 Baltimore & Ohio Rail Road Co., First 4% Bonds, 1948.......... 100,000 00 91,250 00
Bell Telephone Co. of Pennsylvania, First & Refunding 5% Bonds,
1960.................................................. 15,000 00 17,005 00
Central Pacific Railway Co., First Refunding 4% Bonds, 1949. ... 150,000 00 140,510 25 Chicago, Burlington & Quincy Rail Road Co., Illinois Division,
3 /2% Bonds, 1949...................................... 100,000 00 87,750 00
Chicago, Burlington & Quincy Rail Road Co., General 4% Bonds,
1958................................................. 100,000 00 96,000 00
Chicago, Milwaukee & St. Paul Railway Co., General 41/2 % Bonds,
1989................................................. 100,000 00 103,338 75
Chicago & Northwestern Railway Co., First & Refunding 41/2 %
Bonds, 2037........................................... 190,000 00 185,275 00
Chicago & Northwestern Railway Co., First & Refunding 5%
Bonds, 2037...................... ..................... 70,000 00 76,08 25
Delaware & Hudson Co., First & Refunding 4% Bonds, 1943. ... 200,000 00 192,562 50 Detroit Edison Co., General & Refunding 41/2 % Bonds, 1961... 25,000 00 25,850 00 Federal Land Bank, 41/2 % Bonds, 1942-32...................... 42,000 00 42,105 00
Federal Land Bank, 43/4% Bonds, 1954-34.................. **1,258,000 00 1,266,205 00
Fremont, Elkhorn & Missouri Valley Railroad Co. First 6% Bonds,
1933.................................................. 22,000 00 22,440 00
Great Northern Railway Co., First & Refunding 414 % Bonds, 1961 100,000 00 99,875 00 Illinois Central Railroad Co., Refunding 4% Bonds, 1955........ 100,000 00 96,187 50 Kings County Lighting Co., First Refunding 5% Bonds, 1954 .... 15,000 00 16,200 00 Louisville & Nashville Railroad Co., Unified 4% Bonds, 1940. ... 100,000 00 96,771 25 Louisville & Nashville Railroad Co., First & Refunding 41/2 %
Bonds, 2003............................................ 20,000 00 19,000 00
Louisville & Nashville Railroad Co., First & Refunding 5%
Bonds, 2003............................................ 20,000 00 21,250 00
Michigan Central Railroad Co., Michigan Air Line Railroad First
4% Bonds, 1940........................................ 25,000 00 23,625 00
New Jersey Power & Light Co., First 41/2% Bonds, 1960.......... 15,000 00 15,262 50
New York Central & Hudson River Railroad Co., Refunding &
Improvement 4 /% Bonds, 2013........................... 125,000 00 122,656 25
New York Central Railroad Co., Refunding & Improvement 5%
Bonds, 2013........................................... 183,000 00 197,613 75
Northern Pacific Railway Co., General Lien 3% Bonds, 2047... 50,000 00 33,468 75 Northern Pacific Railway Co., Refunding & Improvement 5%
Bonds, 2047........................................... 138,000 00 149,993 99
Northern Pacific Railway Co., Refunding & Improvement 6%
Bonds, 2047........................................... 200,000 00 224,472 50
Pennsylvania Rail Road Co., General 41/ % Bonds, 1965........... 100,000 00 98,250 00
Philadelphia, Baltimore & Washington Railroad Co., First 4%
Bonds, 1943........................... ................ 200,000 00 202,000 00
Pittsburgh, Cincinnati, Chicago & St. Louis Railway, Consolidated
Series H 4% Bonds, 1960................................ 100,000 00 98,500 00
Southern Pacific Co., Oregon Lines, First 41/ % Bonds, 1977... 50,000 00 50,375 00 Union Pacific Railroad Co., First Lien & Refunding, 4% Bonds.
2008.................................................. 100,000 00 97,187 50
United States Treasury, 318% Bonds, 1946-49................... 500,000 00 496,187 50
United States Treasury 4% Bonds, 1954-44..................... 100,000 00 102,937 50
Cash in Bank.............................................. 4,802 86 4,802 86
Acrued Interest on Securities................................. 69,417 28 69,417 28
Total............................................. $4,797,220 14 $4,786,737 63
TABLE No. 1
STATEMENT OF OPERATING REVENUES, EXPENSES, AND NET REVENUE FOR THE FISCAL YEARS ENDED juNE 30, 1933 AND 1932, AND COMPARISON
OPERATIONS
ISTHMUS:
Railroad-Table No. 6.................
Harbor Terminals-Table No. 7.........
Coal Plant--Table No. 9 ...............
Real Estate-Table No. 10 .............
Commissary-Table No. 11............
Cattle Industry-Table No 13..........
Dairy Farm-Table No. 14.............
Plantations-Table No. 15 ..............
Hotel Tivoli-Table No. 16.............
Hotel Wasington-Table No. 17... Telephone & Electric Clocks-Table No. 18. Stables-Table No. -19 ..................
Baggage Transfer-Table No. 20...
Total Operating Revenue, Expenses and
Net Revenue-Isthmus............
NEW YORK:
Steamship Line Operations-Table No. 8..
Total Operating Revenue, Expenses and
Net Revenue......................
II
1933
GROSS
REVENUE EXPENSES
$1,328,229 81 1,257,256 58 261,716 07 269,533 14 7,313,380 84
112,790 70 125,806 31
2,460 68
110,250 48 85,288 00
242,089 20
16,539 34 10,216 75
$1,204,305 19
899,804 72
332;,494 02 110,532 25 7,088,504 26 108,734 24 113,386 69
1,407 19
170,769 40 128,656 12 185,810 23 15,452 16 10,953 43
$11,135,557 901 $10,370,809 901
939,880 67
$12,075,438 57
1,260,365 32 $11,631,175 22
Denotes a Deficit
*Denotes a Decrease
1932
NETr REVENUE
123,924 62 357,451 86 (70,777 95) 159,OQO 89 224,876 58
4,056 46
12,419 62 1,053 49 (60,518 92) (43,368 12) 56,278 97
1,087 18 (736 68)
$764,748 00
(320,484 65)
$444,263 35
GR(
REVENUE
$1,433,719 13 1,240,997 43
477,219 85 326,110 87
8,347,226 33
258,297 26 136,812 67
3,298 53
134,789 58 100,822 90 248,074 72
18,972 29 13,008 85
$12,739,350 41
1,231,241 59
$13,970,592 00
)ss
EXPENSES
$1,377,130 33
954,617 46 637,152 08 104,820 23
8,016,514 98
227,652 60 118,833 39
1,842 34
196,360 97
149,413 42 198,031 83 15,812 39 16,260 30
$12,014,442 82
1,528,321 50
$13,542,768 82
NET
REVENUE
$ 56,588 80 286,379 97 (159,932 23) 221,29 0 64 330,711 35 30,644 66 17,979 28 1,456 19 (61,571 39) (48,590 52) 50,042 89 3,159 90
(3,251 45)
$724,908 09
(297,079 91)
$427,828 18
z~l
Z
INCREASE
$ 67,335 82
71,071 89 89,154 28 62,289 75* 105,834 77* 26,588 20*
5,559 66*
402 70*
1,052 47 5,222 40 6,2B6 08 2,072 72* 2,514 77
$39,839 91
(23,404 74)5
$16,435 17
11
22
PANAMA RAIL ROAD 'COMPANY
TABLE No. 2
TOTAL REVENUE,, OPERATING EXPENSES, NET REVENUE, PROFIT AND Loss
FROM ALL SOURCES, FOR THEDFSCAL YEAR ENDED JUNE 30, 1933
PROFIT 4% on
INVESTMENT
RAILROAD:
Gross Revenue from Operations............ $1,328,229 81
Operating Expenses...................... 1,204,305 19 q13946 43573
Net Revenue.......................... $13946 43573
HARBOR TERMINALS:
Gross Revenue from Operations............ 1,257,256 58
Operating Expenses......... ............. 899,804 72
Net Revenue........................... 357,451 86 221,576 64
BAGGAGE TRANSFER:
Gross Revenue from Operations............... 10,216 75
Operating Expenses......................... 10,953 43
Net Revenue.......... (736 68) 252 38 COLON STABLES:
Gross Revenue from Operations............... 16,539 34
Operating Expenses....................... 15,452 16
Net Revenue.......... 1,087 18 4,046 83 TELEPHONE AND ELECTRIC CLOCKS:
-Gross Revenue from Operations.............. 242,089 20
Operating Expenses -............ 185,810 23
Net Revenue.......... 56,278 97 51,712 00 REAL ESTATE:
Gross Revenue from Operations.............. 269,533 14
Operating Expenses........................._110,532 25
Net Revenue.......... 159,000 89 330,595 57 HOTEL Tsvoss:
Gross Revenue from Operations.............. 110,250 48
Operating Expenses......................._170,769 40
Net Revenue........................... (60,51892) 2,373 05
HOTEL WASHINGTON:
Gross Revenue from Operations............... 85,288 00
Operating Expenses......................... 128,656 12
Net Revenue .............................(43,368 12) 34,773 87
PLANTATIONS;
Gross Revenue from Operations.............. 2,460 68
Operating Expenses.......................... 1,407 19
Net Revenue .......... 1,053 49 1,617 48 COMMISSARY:
Gross Revenue from Operations.............. 7,313,380 84
Operating Expenses........................ 7,088,504 26
Net Revenue .............................224,876 58 243,011 38
COAL:
Gross Revenue from Operations............. 261,716 07
Operating Expenses....................... 332,494 02
Net Revenue........................... (70,777 95) 292,770 37
P~ANAMA RAIL ROAD COMPANY
23
TABLE No. 2 (Continued)
TOTAL REVENUE, OPERATING, EXPENSES, NET REVENUE, PROFIT AND Loss
FROM ALL SOURCES, FOR THE FISCAL YEAR ENDED JUNE 30, 1933
PROFIT 4%on
INVESTMENT
CATTLE:
Gross Revenue from Operations............. $112,790 70
Operating Expenses....................... 108,784 24
Net Revenue............................. 4,056 46 $7,512 40
DAIRY:
Gross Revenue from Operations............. 125,806 31
Operating Expenses...................... 113,386 69
Net Revenue............................ 12,419 62 7,158 83
Total Net Revenue from Operations. $764,748 00 INCOME CREDITS:
Interest and Exchange ......... 19,287 18 Miscellaneous Profit and Loss Items .... 397 10
Total Net Income for the Fiscal Year.. $784,432 28
Uncompleted Construction and Suspense .. .. 7,414 65
Total Isthmus.......................... $784,432 23 $1,668,322 75
STEAMSHIP LINE:
Gross Revenue from Operations............. 939,880 67
Operating Expenses....................... 1,260,365 32
Loss from Operations.............. (320,484 65)
ADDITIONAL INCOME FaOMs:
Interest and Exchange.................... 448,493 63
Income Deductions....................... (23,211 18)
Total-New York ........ 104,797 85 Total Net Income for Fiscal Year. $889,230 13
The 4% calculation is for comparative purpose only and is calculated on the investment consisting of Fixed Property, Supplies, Accounts Receivable and Working Cash
()Denotes Loss
24
ISTHMUS
RAILROAD AND APPURTENANCES:
Roadway and Track.......................
Stations, Roundhouses and Signals..........
Road Equipment..........................
DOCKS, PIERS AND APPURTENANCES:
Docks and Piers..........................
Buildings.................................
Equipment...............................
COAL PLANTS:
Structures . . . . . . .
Equipment...............................
BAGGAGE TRANSFER:
Equipment...............................
COLON STABLES:
Buildings.................................
TELEPHONE AND ELECTED= CLOCKS:
Telephone Plants.........................
Duct Lines...............................
Equipment...............................
Buildings.................................
REAL ESTATE:
Buildings.................................
Colon Lands..............................
Panama Lands...........................
HOTEL WASHINGTON:
Buildings .. . . . . . .
Equipment...............................
HOTEL Tivou:
Equipment...............................
CATTLE INDUSTRY:
Pastures . . . . . . .
Buildings, Dips, Etc.......................
Equipment ..............
PLANTATIONS:
Lands........................... ........
Buildings.................................
COMMISSARY:
Plants...................................
Retail Stores.............................
Equipment...............................
DAIRY FARM:
Pastures.................................
Buildings, Dips, Etc.......................
Equipment......................
UNCOMPLETED CONSTRUCTrION AND IHPROVEHENT...............................
Total Capital Investment-Isthmus.. CONCESSION FROM UNITED STATES OF
COLOMBIA..................................
NEW YORK AND OTHER FLOATING EQUIPMENT:
Steamers.................................
Miscellaneous . . . . . .
MISCELLANEOUS SHORE EQUIPMENT:
Storage Battery Trucks, New York.
Generator and Charging Panel, New York Motor Car, Haiti......................
Total Capital Investment-New Yorki
and Other.....................
Total Capital Investment...... .....
$8,385,496 12 1,115,007 52 1,903,067 56
4,852,799 41
285,161 72 384,450 03
825,284 90 221,644 16
5,621 43
97,388 94
857,256 16 252,363 05 40,601 80 117,234 60
1,732,642 32 4,666,221 74 1,711,310 59
724,160 28 134,569 54
41,525 46
150,000 00 27,400 00
259 89
32,271 00 7,000 00
2,513,588 92 1,021,098 05
721,353 07
25,000 00 74,937 10
11,343 48
$11,413,571 20 5,472,411 16 1,046,879 06 5,621 43 97,388 94 1,267,455 61 8,110,174 65 858,729 82
41,525 46 177,659 89 89,271 00 4,255,985 04 111,280 58
1 26,197 261 26,197 261
2,451,072 89
A-1 AIR 115
1 1,%(0'_1_aI
5,144 91 2,470 00 1,908 74
2,457,221 04
9,523 65
$32,924,151 10
1.00
2,466,744 69
$35,390,896 79
24 PANAMA RAIL ROAD COMPANY TABLE No. 3
CAPITAL INVESTMENT FIXED PROPERTY, EQUIPMENT, ETC., AS OF JUNE 30, 1933
PANAMA RAIL ROAD COMPANY 25
TABLE No. 4
MATERIAL., STOCK, COAL AND SUPPLIES,, AS OF JUNE 30, 1933
ISTHMUS
RAILROAD AND APPURTENANCES: $38,497 48
Maintenance of Way Material.............. $38,497 48
COAL PLANTS: 282,899 25
Material....................................60,783 25
Coal Stock................................ 222,116 00
HOTEL Tivou: 3,79424
Supplies.....................................3,794 24
HOTEL WASHINGTON: 1,782 60
Supplies.................................... 1,782 60
CATTLE iNDUSTRY: 2,82297
Supplies..................................... 76 88
Cattle Stock............................
Work Animals.............................. 2,746 09
PLANTATIONS: 878 46
Work Animals............................... 878 46
COMMISSARY: 961,572 76
Merchandise............................... 961,572 76
DAIRY FARM: 60,753 28
Supplies.................................... 3,148 00
Cattle..................................... 56,325 00
Work Animals.............................. 1,280 28 _____Total Material, Stock, Coal and Supplies-Isthmus .........$1,353,001 04
NEW YORK
FLOATING EQUIPMENT: 36,731 28
Material-Storeroom.........................3,874 16
Stationery Stock............................ 1,292 40
Mineral Water Stock........................ 579 33
Spare Parts................................ 12,194 66
Fuel Oil................................... 18,790 73
IN TRANSIT: 252,300 11
Material Shipped........................... 249,557 91
Material Pending Adjustment ..............2,742 20______Total Material, Stock, Coal and Supplies-New York ..... 289,031 39
Total Material, Stock, Coal and Supplies .. . . . $1,642,032 43
26 PANAMA RAIL ROAD COMPANY
TABLE No. 5
RESERVE FOR DEPRECIATION OF PLANTS, BUILDINGS, AND EQUIPMENT, AS OF
JUNE 30, 1933
ISTHMUS
RAILROAD AND APPURTENANCES: $1,759,670 14
Transportation Buildings and Roundhouses $275,566 02
Road Equipment:
Steam Locomotives.................... 131,451 05
Freight Train Cars.................... 1,039,884 15
Passenger Train Cars.................. 266,357 60
Work Equipment....................... 46,411 32
DOCKS, PIERS AND APPURTENANCES: 2,574,537 86
Docks and Piers........................ 2,229,769 08
Buildings................................. 91,075 28
Equipment............................... 25,693 50
COAL PLANTS: 262,596 52
Structures............................... 174,980 27
Equipment................................ 87,616 25
BAGGAGE TRANSFERz EQUIPMENT: 4,071 99
Automobile Trucks........................ 4,071 99
STABLES-COLON: 35,151 89
Buildings................................. 35,151 89
TELEPHONE SYSTEM: 28,094 97
Plants................................... 401,533 06
Duct Lines.............................. 112,361 76
Buildings................................. 14,200 15
REAL ESTATE: 472,405 32
Buildings................................ 472,405 2
HOTEL Tvoui: 42,952 47
Equipment................................ 42,952 47
HOTEL WASHINGTON: 230,742 67
Buildings................................ 195,171 90
Equipment................................ 35,570 77
CATTLE INDUSTRY: 3,879 23
Buildings, Dips, Etc ...................... 3,879 23
PLANTATIONS: 791 73
Buildings.................................. 791 73
DAIRY FARM: 26987 36
Buildings................................. 26,987 36
COMMISSARY PLANTS AND STORES: 1277225 50
Plants.................................. 1,004,646 94
Retail Stores............................ 207,509 68
Equipment................................65,068 88 ____Total-Isthmus........ $7,219,107 6 5
NEW YORK AND OTHER
FLOATING EQUIPMENT: 1,302,916 50
S.S. "Ancon ............................. 447,724 03
S.S "Cristobal........................... 755,476 31
S.S. "Buenaventura" .. .......... 59,408 97
S.S. "Guayaquil........................... 40,307 19
MISCELLANEOUS PROPERTY: 14,003 67
Steamer Chairs............................ 5,786 00
Motor Car, Haiti........................... 795 20
Storage Battery Trucks, New York ... 5,144 91 Generator and Charging Panel, New York 1,687 56 Radio Equipment, S.S. "Ancon" ... 295 00 Radio Equipment, S.S. "Cristobal" ... 295 00
Total New York and Other .... 1,316,920 17
Total Reserves for Depreciation. $8,56,027 2
PANAMA RAIL ROAD COMPANY 27
TABLE No. 6
RAILROAD OPERATIONS-REVENUE AND OPERATING EXPENSES FOR THE FISCAL
YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
1931 1932 DECREASE
RAILROAD:
Revenue from Transportation
FREIGHT REVENUE:
Through Commercial....................... $190,665 65 $221,295 11 $10,629 46
Local Commercial.......................... 551,358 21 571,213 66 19,855 45
Total............................... $742,021 86 $792,508 77 $50,484 91
PASSENGER REVENUE:
Through Passengers......................... -
Local Passengers.......................... $355,156 54 $190,563 11 $15,406 59
Baggage.................................... 1,397 65 2,064 80 667 15
Express, Mail, etc........................... 50,701 55 51,620 66' 919 11
Parlor and Chair Car....................... 4,885 75 5,640 25 754 50
Special Cars and Trains..................... 7,430 00 14,910 00 7,480 00
Official Motor Cars.........................136,124 42 34,435 65 (1,688 77)
Total............................... $455,695 91 $499,214 49 $41,518 58
MISCELLANEOUS REVENUE:
Switching................................. $33,999 42 $41,098 07 $9,098 65
Locomotive Service......................... 64,913 50 62,219 00 (2,694 50)
Total............................... $98,912 92 $105,317 07 $6,404 15
OTHER THAN TRANSPORTATION:
Storage-Freight........................... $9,653 10 $8,145 91 ($1,307 19)
Storage-Baggage............................ 164 75 170 40 5 65
Demurrage................................. 6,056 25 12,137 25 6,081 00
Telegraph................................... 1,948 32 2,043 60 95 28
Rental of Buildings, etc...................... 2,221 08 2,221 08
Miscellaneous Revenue...................... 11,553 62 11,740 56 186 94
Total............................... $31,597 12 $16,658 80 $5,061 68
Total Railroad Revenue.............. $1,328,229 81 $1,433,719 11 $105,489 32
OPERATING EXPENSES:
Maintenance of Way and Structures .........$177,160 31 $222,960 38 $45,800 07 Maintenance of Equipment.................. 370,627 53 388,950 78 18,323 25
Traff ic Expenses ............ -Transportation Expenses.................... 483,479 18 590,374 95 106,895 57
General Expenses-Isthmus ...............108,124 47 112,625 22 4,500 75
Locomotive Service at Hourly Riates ... 64,913 50 62,219 00 (2,694 50)
Total Railroad Operating Expenses. $1,204,305 19 $1,377,110 33 $172,825 14
Net Revenue from Railroad Operations $123,924 62 $56,588 80 ($67,135 82)
Denotes an Increase
28 PANAMA RAIL ROAD COMPANY
TABLE No. 7
HARBOR TERMINAL OPERATIONS-REVENUE., EXPENSES, AND STATISTICS FOR
THE FISCAL YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
HARBOR TERMINAL REVENUE: ATLANTIC TERMINALS: Wharf age ........................
Rent and Storage.................
Stevedoring............:...........
Handling and Transferring.........
Other Revenue....................
Total ....................
PACIFIC TERMINALS: Wharfage .. . . . . .
Rent and Storage .................
Stevedoring............:...........
Handling and Transferring.........
Other Revenue....................
Total.....................
Total Harbor Terminal Revenue
HARBOR TERMINAL OPERATING EXPENSES:
ATLANTIC TERMINALS:
General Expenses ........
Stevedoring.......................
Handling and Transferring.........
Total.....................
PACIFIC TERMINALS:
General Expenses ........
Stevedoring.......................
Handling and Transferring.........
Total......................
Total Harbor Terminal Expenses
Net Revenue f rom Operations
193
$147,599 33 19,925 35 68,572 79 794,139 41 11,233 22
$1,041,470 10
$5,699 53 21,626 17 179,606 67
8,854 11 $215,786 48 $1,257,256 58
$156,739 36
49,440 34
360,1469 55 $766,649 25
$20,320 05
8,691 64
104,143 78 $133,155 47 $899,804 72
$157y451 86
1932 DECREASE
$158,055 70 29,881 26 68,908 20 808,939 08 12,316 90
$1,078,101 14
$2,468 51 16,422 51 131,500 02 10,505 25 $162,896 29 $1,240,997 43
$360,254 83 50,529 92
425,960 23 $836,744 98
$20,014 56
6,755 34 91,102 58 $117,872 48
$954,617 46
$286,379 97
$10,456 37
9,955 91
335 41 14,799 67 1,083 68
$16,631 04
($3,231 02) (5,203 66) (46,106 65) 1,651 14 ($52,890 19) ($16,259 15)
$3,515 47 1,089 58 65,490 68 $70,095 73
($305 49) (1,936 30) (13,041 80) ($15,282 99)
$54,812 74 ($71,071 89)
STATISTICS
Total Harbor Terminal Revenue.......... $1,257,256.58 $1,240,997.43 ($16,259.15)
Total Operating Expenses............... 899,804.72 954,617.46 54,812 74
Total Net Revenue...................... 317,45186 286,379.97 (71,071.89)
Per Cent of Expenses to Revenue ... 71.57 76.92 5.35 Tons of Cargo Stevedored............... 331,241 311,836 (19,405)
Revenue per Ton Stevedored ......$02723 $0.2736 $0.0013 Cost per Ton Stevedored................... $0.2463 $0.2521 $0.0088
Tons of Cargo Handled and Transferred 1,026,128 989,514 (36,594) Revenue per Ton Handled .......$0.9490 $0.9524 $0.0034 Cost per Ton Handled..................... $0.6583 $0.7166 $0.0583
Tons of General Cargo Received .... 643,587 619,102 (24,285) Tons of General Cargo Dispatched ... 368,658 348,717 (19,941) Number of Ships Handled at Cristobal. 2,486 2,310 (176) Number of Ships Handled at Balboa ... 1,107 1,170 63 Total Number of Ships Furnished Agents 197 192 (5)
HOLD OVER CARGO ("CANAL ZONE FOR ORDERS")
1933 1932 DECREASE
Tons Revenue Tons Revenue Tons Revenue
Tons on Hand Beginning of Year. 4,37.9 5,264 885 Tons Received During Year...10,979 $10,979 00 14,001 $14,001 00 3,022 $3,022 00
Total............... 15,158 19,265 3,907
Tons Reforwarded During Year.. 3,808 4,236 67 4,39 4,735 8.1 582 499 14 Tons Delivered Locally. ......7,140 8,059 91 10,496 11,344 17 3,356 3,284 26 Tons on Hand at End of Yiear. 4,410 4,379 (31)
Total............... 15,158 19,265 3,907
Received f rom Storage Collected
during Year................... 4,758-33 7,078 89 2,320 56
Total Revenue ...........$28,033 91 $37,159 87 $9,125 96
Denotes an Increase.
PANAMA RAIL ROAD COMPANY
29
TABLE No. 8
STEAMSHIP LINE OPERATIONS-REVENUE AND EXPENSES FOR THE FISCAL YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
STEAMSHIP LINE:
REVENUE:'
Freight..........................
Treasure.........................
Passenger .. . . . . .
Excess Bag gage...................
Mail.............................
Mineral Water........... ........
Steamer Chairs...................
Miscellaneous . . . . .
Total Steamship Line Revenue
STEAMSHIP LINE:
EXPENSES:
Steamer..........................
Agency .. . . . . .
General-New York ...............
Total Steamship Line Expenses
Net Revenue from Steamship Line
Operations......................
1933
$723,875 08
6,341 78 186,601 88
1,168 35 14,377 70 1,414 39 3,787 50 2,313 99
$939,880 67
$836,027 24 304,379 34 119,958 74
1932
$936,940 18
5,517 73 231,230 49
991 33 48,588 64 1,598 84 4,416 00 1,958 38
$1,231,241 59
$1,018,316 88
368,723 30 141,281 32
DECREASE
$213,065 10 (824 05)
44,628 61
(177 02)
34,210 94
184 45 628 50 (355 61)
1 $291,360 92
$182,289 64
64,343 96 21,322 58
$1,260,365 32 $1,528,321 50 $267,956 18
X$320,484 65
Denotes an Increase. X Denotes a Deficit.
X$297,079 91
$23,404 '74
I
30 PANAMA RAIL ROAD COMPANY TABLE No. 9
COAL PLANT OPERATIONS-REVENUE, EXPENSES, PROFIT AND STATISTICS FOR
THE FISCAL YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
SALES :
Commercial Steamships.............
Army . . . . . .
Panama Canal....................
Railroad Departments..............
Navy............................
Local............................
Total .. . . . .
Trimming (and Miscellaneous).
Wharfage .. . . . . .
Handling Navy Coal...............
Total Revenue.............
OPERATING EXPENSES:
General Expenses.........
Unloading and Stori ng............
Reclaiming and Delivery...........
Total Expenses............
1 1933 1
$217,004 40
4,102 14 6,176 72
395 03
5,148 00
$232,826 29
3,841 07 19,468 33 5,580 38
$261,716 07
1932
$418,069 44
5,790 67 4,616 07
652 56
6 ,233 47
$435,362 21
2,829 73 26,776 04 12,251 87
$477,219 85
DECREASE
$201,065 04
1,688 53
(1,560 65)
257 53
1,085 47
$202,535 92
(1,011 34) 7,307 71 6,671 49
$215,503 78
$72,689 36 $152,026 70 $79,337 84
6,949 84 20,098 78 18,148 94 31,678 58 52,653 32 20,974 74
$111,317 78
$224,778 801
$113,461 02
PROFIT AND LOSS ACCOUNT
DEBITS:
Coal on Hand July 1, 1932 ............
Coal Received During the Fiscal* Year............
Miscellaneous Charges.........................
Laid-up Fleet Maintenance .............
Coal Recovered, Cross Section Inventory....
Credit from Handling Navy Coal...............
Operating Expenses for the Year ..............
Total Dehits..........................
CaEons:
Receipts from Sales.............
Wharfage and Trimming........... ..........
Coal On Hand June 30, 1933 ...................
Total Credits .........................
Less Dehits..........................
Loss for the Year .....................
TONS
43,281 41,945 2,831
88,057 39,327 48,730 88,057 88,057
RATE $6 24 4 03
$5 92 4 56
AMOUNT
$270,087 04 169,435 65 428 57
3,340 98
(5,580 38) 111,317 78
$549,029 64
$232,826 29
28,309 40 222,116 00
$478,251 69
549,029 64
$70,777 95
Denotes an Increase
COAL PLANT STATISTICS
1933 1932 DECREASE
Gross Receipts from Sales and Services. $261,716 07 $477,219 85 $215,503 78 Cost of Sales and Services............... 332,494 02 637,152 08 304,658 06
Net Loss for the Year.................. (70,777 95)* (159,932 23)* 89,154 28
Tons of Coal Received during the Year ... 41,945 42,540 595 Recovered on Inventory.................. 2,831 1,540 (1,291)
Tons of Coal Sold During the Year........ 39,327 65,463 26,I136 Average Tons of Coal Received per Month. 3,495 3, 5 45 50 Average Tons of Coal Sold per Month. .... 3,277 5,45.5 2,178
*Denotes a Deficit.
Denotes an Increase.
PANAMA RAIL ROAD COMPANY
31
TABLE No. 10
REAL ESTATE OPERATIONS-REVENUE AND EXPENSES FOR THE FISCAL YEARS
ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Rent of Buildings..................
Rental of Lands...................
Total Revenue...............
EXPENSES:
Superintendent and Clerical...
Repairs to Buildings................
Depreciation of Buildings...........
Supplies and Services...............
Supervision .. . . . .
Accounting . . . . . .
Total Expenses..............
Net Revenue from Operations.
( 0Denotes an Increase
1933
$ 9,456 34 260,076 80 $269,533 14
1932
$ 9,909 33 316,201 54 $326,110 87
DECREASE
$452 99 56,124 74 $56,577 73
$17,483 63 $19,906 92 $2,423 29
8,408 65 89 32 (8,319 33) 71,128 28 70,663 52 (464 76) 5,771 69 6,420 47 648 78
540 00 540 00
7,200 00 7,200 00$110,532 25 $104,820 23 ($5,712 02)
$159,000 89
$221,290 64 1
$62,289 75
32 PANAMA RAIL ROAD COMPANY
TABLE No. 11
COMPARATIVE STATEMENT OF OPERATIONS OF THE COMMISSARY DIVISION
FOR THE FISCAL YEARS ENDED JUNE 30, 1933 AND 1932
PROFIT AND LOSS
SALES:
U. S. Government ...............................
Panama Canal .................................
Panama Rail Road ..........................
Individuals and Companies...................
Commercial Steamships..........................
Coupons, Paid Orders, etc........................
Gross Revenue from Sales .................
Less Discounts and Refunds ................
Net Revenue from Sales ..................
Inventory Beginning of Period.............
Merchandise Purchased for Sale............
Merchandise Purchased for Manufacture.
Total...............................
Inventory, End of Period ................
Value of Sales and Services...............
EXPENSES:
Labor (Productive Only).........................
Gold .......................................
Silver . . . . . . . .
Gratuity.......................................
Supplies from Stock .............................
Supplies from Panama Canal.....................
Services from Panama Canal .....................
Delivery Service (Truck, Tug, and Launch) .........
Freight Transportation...........................
Power a nd Light ...............................
Water .........................
Telephone, Radios, Cablegrams....................
Refrigeration and Ice ...........................
Hospitalization of Employees .....................
Accounting Expenses............................
Administrative Expenses -............
Purchasing (Offices U.S.A.) ......................
Depreciation . . . . . . .
Repairs .. . .j.. . . . . . .
Loss and Damage.............................
St6ck Losses...................................
Other Expenses .. . . . . . .
Total Expenses..........................
Cost of Sales and Services........................
Net Results-Profit ...................
Less Buildings Written off to Profitand Loss .
Net Result-Profit.......................
1933 1 1932
$964,376 75 562,851 24 180,451 53 493,475 57 294,416 69 5,107,704 11
$7,603,275 89
289,895 05
$7,313,380 84
$1,141,374 51 3,386,179 90 1,382,314 81
$5,909,869 22 1,056,129 92
$4,853,739 30
$354,876 84 544,194 60 56,780 28 57,291 53 34,678 27 15,681 48
129,215 73 133,290 54
31,578 72 5,754 09 11,912 01 165,570 17 24,780 04 144,750 16 16,380 00 54,000 00
120,535 96
93,972 53 82,514 64 23,001 88 60,629 51
$2,161,408 98
$7,015,148 28
$298,232 56 73,355 98
$224,876 58
$1,069,871 40
626,585 66 236,825 73 527,791 93 458,943 30 5,768,104 96
$8,688,122 98
340,896 65
$8,347,226 33
$1,394,111 34 3,820,311 04 1,575,283 77
$6,789,706 15 1,141,374 51
$5,648,331 64
$385,560 21 613,385 76
61,689 71 70,437 06 39,501 84 14,529 67 140,757 17 132,694 19
38,130 70
6,997 09 12,850 96
184,490 97 26,189 00 151,743 03
16,380 00 60,000 00 121,336 67 92,212 23 123,006 48 12,297 79 63,992 81
$2,368,183 34
$8,016,514 98
$330,711 35
$330,711 35
PANAMA RAIL ROAD COMPANY 33
TABLE No. 12
SUPPLY DEPARTMENT-COMMISSARY BRANCH STATEMENT OF COST OF
MATERIAL AND SUPPLIES PURCHASED AND SOLD DURING THE FISCAL
YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
PURCHASES BY CLASSES
1933 11932 DECREASE
Groceries............................. $1,234,567 33 $1,305,899 68 $71,332 35
Candies.................................. 565,165 39 52,660 91 (2,504 48)
Tobacco.............................. 252,061 17 327,685 92 75,624 75
Hardware............................. 315,525 94 383,234 00 67,708 06
Dry Goods............................ 726,708 17 841,106 20 114,398 03
Shoes........................... ...... 146,378 30 191,066 02 44,687 72
Cold Storage.......................... 1,092,113 73 1,213,423 68 121,309 95
Toys..................................... 21,669 33 44,542 78 22,873 45
Stationery................................ 38,264 94 47,204 94 8,940 00
Raw Material......................... 318,784 87 427,159 61 108,374 74
Cattle and Hogs........................ 124,465 53 261,507 06 137,041 53
Milk and Cream.......................... 153,383 45 164,719 51 11,336 06
Eggs.................................... 232,687 89 166,926 42 (5,761 47)
Butter................................... 138,553 26 160,252 79 21,699 53
Dressed Beef............................ -
Total....................... $4,850,329 30 $5,587,389 52 $737,060 22
LOCATION OF PURCHASES
1933 1932 DECREASE
Purchases in U.S.A.................... $3,798,356 49 $4192,222 93 $393,866 44
Europe and Orient.................. 482,590 29 621,423 42 138,833 13
Central and South America........... 131,284 11 145,085 99 13,801 88
Local............................. 130,894 20 167,199 81 36,305 61
Panama Canal...................... 70,558 08 69,947 45 (610 63)
Cattle Industry.................... 236,646 13 391,509 92 154,863 79Total...................... $4,850,329 30 $5,587,389 52 $737,060 22
DISTRIBUTION OF SALES
1933 1932 DECREASE
United States Government (A & N)... $964,376 75 $1,069,871 40 $105,494 65 The Panama Canal....................... 562,851 24 626,585 66 6,734 42
The Panama Rail Road.................. 180,451 53 236,825. 73 56,374 20
Individuals and Companies............... 49,475 57 527,791 93 34,316 36
Commercial Ships...................... 294,416 69 458,943 30 164,526 61
Employees (Coupon Sales).............. 5,107,704 11 5,768,104 96 660,400 85
Total...................... $7,603,275 89 $8,688,122 98 $1,084,847 09
Less Discounts and Credits, etc........... 289,895 05 340,896 65 51,001 60
Net Revenue from Sales..$7,313,380 84 $8,347,226 33 $1,033,845 49
SUPPLIES FOE EXPENSE:
Retail Commissaries and Warehouses $33,971 25 $41,796 53 $7,825 28 General............................... 1,640 31 2,623 87 983 56
Plants............................. 21,679 97 26,016 66 4,336 69
Total....................... $57,291 53 $70,47 06 $13,145 53
Loss by Condemnation, Pilferage, Shrinkage, etc........................... $105,536 52 $135,04 27 $29,767 75Grand Total.......... ....... $7,476,208 89 $8,552967 66 $1,076,753 77
Denotes an Increase.
34 PANAMA RAIL ROADCOMPANY TABLE No. 13
CATTLE INDUSTRY OPERATIONS-REVENUE,, EXPENSES, PROFIT AND LOSS FOR
THE FISCAL YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Sale of Cattle.....................
Hides and Produce .................
Total Revenue .............
EXPENSES:
Superintendence and Clerical.
Handling Stock...................
Repairs to Gates and Fences.
Feeding, Labor and Feed...........
Cutting Brush, etc ................
Mess Operations, etc ...............
Transpprtation....................
Death.s-Stock......................
Supplies and Services..............
Administration....................
Miscellaneous . . . . .
Total Expenses.............
1933
$112,308 96
481 74
$112,790 70
$3,578 75 3,207 56
673 01
1,217 16 1,235 84 1,850 86 4,084 96 1,565 62
952 88
6,498 96 1,641 36
$26,506 96
1932
$257,354 80
942 46
$258,297 26
$5,344 92 3,995 49 1,407 21 1,737 51
907 31
3,065 55 8,191 80
1,554 74 1,386 73 7,698 96 2,440 01
$37,730 23
DECREASE
$145,045 84
460 72
$145,506 56
$1,766 17
787 93
734 20 520 35 (328 53) 1,214 69 4,106 84
(10 88) 433 85
1,200 00
798 65
$11,223 27
PROFIT AND LOSS
DEBITS:
Cattle on Hand Beginning of Year..
Purchases During the Year.............
Births During the Year...............
Transfers During the Year............
Adjustments, Promotions and Recoveries. .
Operating Expenses...................
Total Dehits..................
CREoITS:
Sales . . . . . . .
Deaths...............................
Transfers .. . . . .
Adjustments on Promotions and Riecoveries Cattle on Hand at Close of Year...
Total Credits .......*......... *
Less Total Debits..............
Net Profit for the Year...
HEAD 15P32 1,857
1,989
1,984
5
1,989 1,989
1933
AMOUNT
$3,564 00 78,876 72
26,506 96
$108,947 68
$112,790 70
213 44
$113,004 14 108,947 68
$4,056 46
HEAD 4,666
4,799
4,656 132 4,799 4,799
1932
AMOUNT
$4,395 69 189,439 02
37,730 23 $231,564 94
$258,297 26
348 34
3,564 00 $262,209 60 231,564 94 $30,644 66
()Denotes an Increase.
PANAMA RAIL ROAD COMPANY 35
TABLE No. 14
DAIRY FARM OPERATIONS-REVENUE, EXPENSES, PROFIT AND LOSS FOR THE
FISCAL YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Milk an4q Cream....................
Live Stock........................
Hides and Other Products..........
Total Revenue..............
EXPENSES:
General .. . .;. . .
Pasture Operations.................
Milking and Refrigerating...........
Total Expenses..............
1933
$120,769 18
4,980 82
56 31 $125,806 31
$25,817 32 5,326 00 76,388 33
$107,531 65
1932
$135,340 60
1,228 99
243 08 $136,812 6.7
$35,439 75
5,988 46 81,965 18
$123,393 39
DECREASE
$14,571 42 (3.751 83)
186 77 $11.006 36
$9,622 43
662 46
5,576 85
$15,861 74
PROFIT AND LOSS
DEBITS:
Cattle on Hand at Beginning of Year..
Cattle Purchased During the Year ...
Calves Born During the Year...........
Adjustments....
Transfers During the Y ear........
Operating Expenses for the Y:ear.
Total Dehits....................
CREDITS:
Sales of Cattle During the Year.........
Sales of Milk and Cream...............
Sale of Miscellaneous Products..........
Transfers Duririg the Year............
Deaths During~ the Year.... ............
Cattle on Hand at Close of the Year.
Total Credits...................
Less Total Dehits...............
Net Profit f or the Year...
1933
HEAD AMOUNT
675 $54,000 00 103 9,300 04 82
- 107,531 65 860 $170,831 69
95 $4,980 82
120,769 18
-56 31 14 1,120 00 751 56,325 00
860 $183,251 31 860 170,831 69
$12,419 62
Denotes an Increase.
HEAD
634 79
713
22 16 675 713 713
1932
AMOUNT
$50,720 00
123,393 39 $174,113 39
$1,228 99 135,340 60
243 08
1,280 00 54,000 00
$192,092 67 174,113 39
$17,979 28
36 PANAMA RAIL ROAD COMPANY
TABLE No. 15
PLANTATION OPERATIONS-REVENUE AND EXPENSES FO'R THE FISCAL YEARS
ENDED JUNE 30, 1933 AND 1932, AND COMP.4RISON
1933 1932 DECREASE REVENUE:
Produce-Local Sales................. $1,380 68 $1,718 53 $33-1 85
Miscellaneous....................... 1,080 00 1,580 00 500 Ou
Total Revenue............... $2,460 68 $3,298 53 $837 85
EXPENSES:
Cultivating............................. -
Harvesting............................ $978 25 $1,213 02 $234 77
Supplies and Services................... -
Miscellaneous........................... 428 94 629 32 200 33
Total Expenses................ $1,407 19 $1,842 34 $435 15
Net Profit from Operations .. $1,053 49 $1,456 19 $402 70
TABLE No. 16
HOTELDTVOLI OPERATIONS-REVENUE AND EXPENSES FOR THE FisCi. YEARS
ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Rental of Rooms....................
Restaurant Service..................
Cigars and News Stand..............
Laundry and Valet Service..........
Telephone.........................
Swimming Pool.....................
Miscellaneous . . . . .
Total Revenue...............
EXPENSES:
Superintendence and Labor.........
Subsistence Supplies.................
Laundry-Hotel.....................
Laundry-Guests.........
General Supplies and Services ...
Repairs to Equipment...............
Repairs to Buildings................
Depreciation of Equipment..........
Depreciation of Buildings............
Supervision and Accounting.........
Miscellaneous*..........
Rental of Buildings and Equipment..
Total Expenses..............
Net Loss from Operations ....
1933
$52, 00 00 44,760 -4,976 49 5,555 10
958 95
1,999 19
$110,250 48
$53,575 38 35,494 69 10,089 60 3,643 37 3,979 15 1,653 16
4,408 47 7,182 55
4,620 00 16,123 03 30,000 00
1932
O'2,771 45 57,101 40 5,453 83 6,105 24
919 50
2,438 16
$134,789 58
$63,806 75 42,549 89 10,757 50
4,074 94 4,463 66 2,021 26 5,390 06 8,759 98
4,620 00 19,916 93 30,000 00
DECREASE
$10,771 45 12,340 65
477 34 550 14 (39 45)
438 97
$24,539 10
$10,231 37
7,055 20
667 90 431 57 484 51 368 10 981 59
1,577 43
3,793 90
$170,769 401 $196,360 97 $25,591 57
$60,518 92**
$61,571 39**
1 $1,052 47
*Includes Office Supplies, Ice, Fuel, Water, Electricity, Telephone and other small accounts.
**Denotes a Deficit.
Denotes an Increase.
PANAMA RAIL ROAD COMPANY
37
TABLE No. 17
HOTEL WASHINGTON OPERATIONS-REVENUE AND EXPENSES FOR TH-E FISCAL
YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Rental of Rooms ....................
Restaurant Service..................
Cigar and News Stand...............
Laundry and Valet Service...........
Telephone ..........................
Swimming Pool ....................
Miscellaneous.......................
1933
$39,350 15 30,979 15 5,190 70 3,505 35 796 50 4,897 55 568 60
Total Revenue ...... .. .. ....$85,288 00
EXPENSES:
Superintendence and Labor...........
Subsistence Supplies..................
Laundry-Hotel..........
Laundry-Guests ... .............
General Supplies and Services.........
Repairs -to Equipment................
Repairs to Buildings.................
Depreciation of Equipment...........
Depreciation of Buildings............
Supervision and Accounting..........
Miscellaneous*.......................
Total Expenses...........
Net Loss from Operations.
$48,064 51 26,6 91 84 8,886 86 2,456 11 3,746 41 1,354 52 2,554 20 5,548 17 5,548 17 4,620 00 19,185 33
$128,656 12
$43,368 12**
1932
$47,111 45 36,665 65 5,719 60 4,535 70
809 95
5,575 00
405 55
$100,822 90
$54,374 75 31,648 03 9,087 11
3,174 47 4,348 22 3,576 12 3,024 64 6,553 43 6,553 43 4,620 00
22,453 22
$149,413 42
$48,590 52**
DECREASE
$7,761 30 5,686 50
528 90
1,030 35
13 45 677 45
(163 05)
$15,534 90
$6,310 24 4,956 19
200 25 718 36 60 1 81
2,221 60
470 44
1,005 26 1,005 26
3,267 89
$20,757 30
$5,222 40
*Includes Office Supplies, Ice, Fuel, Water, Electricity, Telephone and other small accounts.
**Denotes a Deficit.
Denotes an Increase.
TABLE No. 18
TELEPHONE AND ELECTRIC CLOCK OPERATIONS-REVENUE AND EXPENSES FOR
THE FISCAL YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Rent of Instruments ..............
Rent of Trunk Lines..............
Leased Circuits and Ducts.........
Changing Telephones, etc ...
Electric Clocks....................
Electric Printing Typewriters..
Total Revenue from Operations
EXPENSES:
Superintendence, Labor, Supplies, etc.
Depreciation .. . . . .
Supervision and Accounting ...
Total Expenses.............
Net Revenue from Operations.
1933
$173,05 7'7 24,968 00 33,908 69 1,078 60
2,401 14 6,675 00
$242,089 20
1932
$179,420 64 2 5, 670 67 32,379 33 1,617 60 2,687 30 6,299 18
$248,074 72
DECREASE
$6,362 87
702 67
(1,529 36)
539 00 286 16
(375 82)$5,985 52
$129,982 07 $142,828 28 $12,846 21 50,608 16 49,9983 55 (624 61) 5,220 00 5,220 00 -
$185,810 23
$198.031 83
_________________________________ I I
$56,278 97
$50,042 89
$12,221 60
($6,236 08)
Denotes an Increase.
38
PANAMA RAIL ROAD COMPANY
TABLE No. 19
STABLE OPERATIONS-REVENUE AND EXPENSES FOR THE FISCAL YEARS ENDED
JUNE 30, 1933 AND 1932, AND COMPARISON
1933 1932 DECREASE
REVENUE:
Rental of Stalls........... .......... $5,116 90 $6,357 51 $1,240 61
Rental of Buildings................. 11,412 44 12,578 48 1,166 04
Boarding Stock...................... -
Sale of Medicines, etc................. 10 00 86 30 26 30
Total Revenue............... $16,539 34 $18,972 29 $2,432 95
EXPENSES:
Superintendence, Labor, Su~pplies, etc. $15,452 16 $15,812 39 $360 23
Net Revenue from Operations $1,087 18 $3,159 90 $2,072 72
TABLE No. 20
BAGGAGE TRANSFER OPERATIONS-REVENUE AND. EXPENSES FOR THE FISCAL
YEARS ENDED JUNE 30, 1933 AND 1932, AND COMPARISON
REVENUE:
Transf erring Baggage............
Other Trucking Service...........
Total Revenue............
EXPENSES:
Superintendence, Labor, Supplies, etc.
Net Loss from Operations. .
1933
$9,065 75 1,151 00
1932
$11,632 75 1,376 10
DECREASE
$2,567 00
225 10
$10,216 75 $13,008 85 $2,792 10
$10,953 43 ($736 68)
$16,260 30 ($3,251 45)
$5,306 87 $2,514 77
Denotes a Deficit.
TABLE No. 21
INTEREST AND EXCHANGE-REVENUE FOR THE FISCAL YEARS ENDED
JUNE 30, 1933 AND 1932, AND COMPARISON
1933 1
[sthmus.............................. $19,287 18
New York............................ 448,493 63
Total Revenue.............. $467,780 81
1932 1
I I $15,239 25 $4,047 93
445,601 72 $460,840 97
INCREASE
2,891 91 $6,939 84
PANAMA RAIL ROAD COMPANY
TABLE No. 22 STATEMENT OF STEAMSHIP LINE STATISTICS FOR THE JUNE 30, 1933 AND 1932
Steamships .......................................
Total Revenue...................................
Freight Carried, Tons .............................
Freight Revenue (Including Treasure) ...............
Average Freight Rate .............................
Passengers Carried .. .. . . . . . .
Passenger Revenue (Including Excess Baggage). Average Rate Per Passenger.........................
FISCAL YEARS ENDED
1933
$939,880. 67
116,148 $730,216. 8
5,981 $187,770 .22
$31.40
1932
4
$1,231,241. 59
140,429 6 $942,457.-91 $6.71
1 6,977 3 $232,221.82 D $33.28
3 9
40 PANAMA RAIL ROAD COMPANY
TABLE No. 23
RAILROAD OPERATIONS-GENERAL AND PASSENGER STATISTICS FOR THE FISCAL
YEARS ENDED JUNE 30, 1933 AND 1932
1933 1932
GENERAL STATISTICS:
Average Miles of Road Operated......................... 47.61 47.61
Gross Operatin g Revenue............................. $1,328,229 .81 $1,433,719 .13
Operating Expenses................................. 1,204,305 .19 1,377,130 .33
Net Operating Revenue............................... 123,924 .62 56,588. 80
Per Cent of Expenses to Revenue.......................... 90 .66 96 .05
Gross Revenue per Mile of Road........................ $27,898.12 $30,113.82
Operating Expenses per Mile of Road................... 25.295.21 28,925.23
Net Revenue per Mile of Road.......................... 2,602.91 1,188.59
Total Revenue Train Mileage.......................... 186,598 193,667
Railroad Revenue per Train Mile ......................$7 .12 $7 .40
Railroad Operating Expenses per Revenue TrainMle6 .45 7.11 Net Railroad Revenue per Revenue Train Mile.... .67 .29
Freight, Passeng-er, and Switch Locomotive Mileage. 282,502 307,539 Work Train Mileage................................... 11,266 5,116
PASSENGER STAISTIS:
Gross Revenue (Including Baggage, Express, Mail and
Treasure) ...........................$464,313.04 $504,755.14
Passenger Train Mile (Including Mixed Trains) ... 108,257 111,592
Passenger Trains per Day per Mile of Road .....6. 23 6.42
Coach Mileage ........................................ 594,337 614,283
Baggage, Express and Mail Car Mileage................ 150,034 148,'681
Total Passenger Car Mileage........................... 744,371 762,964
Passengers Carried................................... 363,109 409,'954
Passengers Csrried' One Mile.........................14A,938,356 16,289,855
Average Distance Each Passenger Carried ......41 .14 39 .73 Passengers in Each Train............................... 137.99 145 .98
Passengers in Each Passenger Car (Including Baggage,
Mail and Express).................................. 20.06 21.35
Revenue per Passenger Train Mile........................ $3 .88 $4 .17
Revenue per Passenger Car Mile (Including Baggage,
Mail and Express)................................... $0.6237 $0.6615
Cars in Each Passenger Train (Including Baggage, 6.768
Mail and Express).............................8 68
Revenue per Passenger................................... $0 .98 $0.953
Revenue per Passenger per Mile.......................... $0 .0237 $0 .0240
Passengers One Mile per Mile of Road................. 313,765 342,151
Revenue per Mile of Road.............................. $9,752 .43- $10,601 .87
Number of First Class Passengers Carried .............168,344 184,307
Revenue from First Class Passengers Carried........... $198,892 .47 $218,196 .44
Number of Second Class Passengers Carried .... 194,765 225,647
Revenue' from Second Class Passengers Carried ... $156,264. 07 $172,366 69
PANAMA RAIL ROAD COMPANY
41
TABLE No. 24 RAILROAD OPERATIONS-FREIGHT STATISTICS FOR THE FISCAL YEARS ENDED JUJNE 30, 1933 AND 1932
Gross Freight Revenue..........................** ........
Freight Train Mileage (including Mxed Trains).......... Freight Trains per Day per Mile of Road...............
Loaded Freight Car Mileage..........................
Empty Freight Car Mileage...........................
Caboose Car Mileage ...................
Total Freight Car Mileage (Including Caboose).......... Per Cent of Loaded Car Mileage to Total Car Mileage
(Including Caboose)..............
Loaded Freight Cars per Train........................
Empty Freight Cars per Train.........................
Loaded and Empty Freight Cars per Train..............
Tons Through Commercial Freight.....................
Tons of Local Commercial Freight.....................
Tons of Local Army Freight..........................
Tons of Local Panama Canal Freight ........ Tons of Local Commissary Freight ......... Tons of Company Freight .............
Tons of Revenue and Company Freight Carried ... Tons of Through Commercial Freight Carried One Mile. Tons of Local Commercial Freight Carried One Mile. Tons of Local Army Freight Carried One Mile.......... Tons of Local Panama- Canal Freight Carried One Mile. Tons of Local Commissary Freight Carried One Mile.. Tons of Company Freight Carried One Mile............
Tons of Revenue and Company Freight Carried One Mile Tons in Each Loaded Car (Including Company).... Tons in Each Loaded and Empty Car (Including Company) Tons in Each Train..
Revenue per Frei,1ht Car Miile..............
Average Mile Each Ton of Revenue Freight Carried .... Revenue per Freight Train Mile...........
Revenue per Ton of Revenue Freight ........ Revenue per Ton Mile.................................
Tons of Revenue Freight Carried One Mile per Mile of
Road .. . .';.. . . . . .
Freight Revenue per M ileof Road ....-**...........
Estimated Loaded Cars in Each Train (Estimating 2
Empties or 2 Cahooses as 1 Loaded Car)............
Revenue Freight Engine Mileage.......................
Estimated Loaded Cars Handled per Revenue Freight
Engine...........................................
Tons Handled per Revenue Freight Engine..............
1933
$742,023. 86 78,341
4.50
950,236 374,691 80,780 1,405,707
67.59
12.12 4.78 16.90
56,41 "6 66,550
7,314
132,722 29,523 7,407
299,932 2,653,336 2,223,774
152,368 3,863,180 1,083,105
184,614 10,160,377
10.69
7.66
129.69 $0.527
34.10 $9.47 $2.54 $0.074
209,530
$15,585 .46
15.03
79,146
14.88 128.37
1932
$792,508 .77
82,075
4.72 970,975 393,604 84,813
1,449,392
66.99 11.83
4.79 16 .62
66,361
91,740 3,267 72,317
29,842 4,105 267,632 3,102,706 2,767,319 116,633 2,560,099 1,091,501
124,323 9,762,581
10.05 7.15
118.95
$0.546
36.47 $9.66 $3.01
$0 .0822
202,397
$16,645 .84
14.74
83,877
14.70
118.63
42 PANAMA RAIL ROAD COMPANY
TABLE No. 25
PANAMA RAIL ROAD, PANAMA CANAL, AND U. S. ARMY TRACKAGE, ADDITIONS
AND REMOVALS FOR THE FISCAL YEAR ENDED JUNE 30, 1933
LENGTH
PANAMA RAIL ROAD TRACKS:MIE TOA
Main Line, Colon-Panama........................................ 47.61
Atlantic Terminal:
Colon ........................................................2.06
Cristobal and Mndi Island..................................... 21.85
Pacific Terminals:
Panama ......................................................7.01
Balboa .........:.............., *................................11.63
Intermediate Passing Tracks, Sidings and Yads................... 12.39
Total Panama Rail Road Tracks................................ 102.55
PANAMA CANAL TRACKS:
Atlantic Terminal................................................ 5.17
Intermediate Tracks.............................................. 15.33
Pacific Terminal.................................................. 16.91
Total Panama Canal Tracks .................................... 37.41
UNITED STATES ARMY TRACKS:
Atlantic Terminal............ .................................... 3.28
Intermediate Tracks.............................................. 2.42
Total United States Army Tracks................................ 5.70
Total Trackage Maintained by Panama Rail Road ...... 145.66
Tracks taken up during the Fiscal Year
PANAMA RAIL ROAD TRACKS:
Intermediate Passing Tracks........................................ .17
PANAMA CANAL TRACKS:I
Atlantic Terminal................................................. .03
Intermediate Tracks............................................... .09
Total Tracks Taken Up......................................... .29
Tracks added during the Fiscal Year
PANAMA CANAL TRACKS:
Pacific Terminal ............................................... .04
Total Tracks Added During the Fiscal Year ..........04
Rail, Cross and Switch Ties, and Gravel used during the Fiscal Year
Cross Ties-New................................................ 10,858
Switch Ties-New................................................ 44,856 Ft. B. M.
Rail 70-lb. S.H.................................................... 14.829 N. T.
Rail 90-lb. S.H................................................... .310.995 N. T.
Rail 90-lb-New................................................. 526.860 N. T.
Gravel.......................................................... 2,856 Cu. Yds.
Amounts expended on Work Performed for Other Divisions, and on Railroad A. F. E.'s.
Maintenance-Panama Canal Tracks.................................. $18,434.15
Maintenance-U. S. Army Tracks..................................... 4,121.57
Miscellaneous Work Requests-Panama Canal........................... 39,027.79
Railroad A.F.E.'s................................................... 39,704.87
0
0
a~
0
(D
W
W
a a 0 J 0
C+ J
0+
00" C+ 3
a#-A
Ea
03 Road Engines A <-i0
tl:) NI) Switch Engines 0) Ci Caboose 03CI3
03 00 Ref rigerators ci Ci Gondolas
03co3 Box Stock
Flats, Steel
0 Ballast Ia 03 Oliver Dumps-12 Yardsci 0) Oliver Dumps-19 Yards c
-a
Lidgerwoods 5 a a Work Cars
Ci 03 *i Oil Tanks Labor Box
00 00
ci Banana
ci Automobiles Garbage
co Motor Cars 03 Parlor Cars
a First Class
__________ Second ClassZ
000 Passenger Boxa
______________ Baggage and Mail Hospital Cars
03 Pay Cars
Piledrivers
Co Cranes
03 Steam Ditcher 03 Steam Shovel
Weed Killer
XNIVCIJAO2D (OU rIIVH VKVNVJI
a
C3
z
a
0 52
m
H
H
z
H
0
0
0
0
H
03
o
0
0
(I) K~
H
0
0
CI)
0 C
z
C~3
130
Ev1
44,
PANAMA RAIL ROAD COMPANY
TABLE No. 27
STATEMENT OF EXPENDITURES UNDER AUTHORITY FOR EXPENDITURES DURING
THE FISCAL YEAR ENDED JUNE.30, 1933
NoF.. THIS YEAR To DATE
1724 Cristobal Mole....................................... $3,623 95 $17,807 80
1909 Six Block Fill, Colon................................. 14,060 84 332,824 21
1957 Equipment, Telephone Exchange, Madden Dam .... 1,828 65 19,585 60 1963 Telephone Cable......................127 07 2,354 06
1971 Alterations and Improvements*,* Industrial *Laboratory* 2,027 47 36,827 28 1984 Bread Wrapping Machine, Bakery .....................4 58 4,469 32
1985 Purchase 2-Printing Telegraph Machines ...............2,079 00 2,079 00
1986 Paint roof trusses Pier 8, Cristobal.................... 2,247 70 21,247 70
1989 Renew Piles, Pier 9, CrIstohal......................... 5,106 03 5,'106 03
1990 New 902 Rail Mile Post 37........................... 22,214 36 22,214 36
1994 Overhaul No. 1 Ice Tank, Mt. Hope..................... 6 64 1,320 22
1995 Overhaul Crane No. 64 ............................... 7,461 29 7,461 29
1997 New Tumblers, Ancon Laundry........................ 5,834 40 5,834 40
1998 Improve Drainage, Lots 241/2 Colon...................... 400 40 674 65
1999 Repair Old English Wharf., Panama................... 8,341 27 8,341 27
2000 Change pipe condensers................................ 907 05 907 05
2001 Paint hull Pile Driver No. 200.......................... 531 17 531 17
2002 Repairs to Barge 206.................................. 601 93 601 93
2003 Repairs to Wilson St., Mt. Hope........................ 996 47 996 47
2004 Paint hull Pile Driver No. 201.......................... 550 90 550 90
2005 Repairs to Barge 205.................................. 612 57 612 57
2006 Refrigerating System, Ancon Commissary............... 2,826 25 2.826 25
2007 Renew fender piles, Dock 6 & 7, Balboa................. 3,300 86 3,300 86
2008 Overhaul Compressor, Mt. Hope........................ 815 98 815 98
2009 Renew fender piles, Dock 9, Cristobal................... 1,361 63 1,361 63
2010 Cracker cutting machine............................... 2,752 60 2,752 60
2011 Wig-Wag Signal, Corozal..............................725 80 725 80
2012 Purchase 2-Printing Telegraph Machines................. 1,378 09 1,378 09
2013 Purchase 10-Printing Telegraph Machines............... 5,722 83 5,722 83
2014 Paint Steel Structural Bridge, Coal Plant............... 1,405 63 1,405 63
2015 Repairs riggers walkway, Dock 9........................ 793 03 793 03
2016 Renew hoist cable, Commissary Warehouse................ 492 07 492 07
2Q17 Wig-Wag Signal Balboa............................... 610 70 610 70
2018 Paint roof Ancon Laundry........................... 2,326 57 2,326 57
2019 Paint Commissary Buildings........................... 2,848 64 2,848 64
2020 Renew Boiler Tubes, Coal Plant, Balboa.................. 539 40 539 40
2021 Reroof Cold Stordige Plant Building..................... 230 65 230 65
2022 Paint roof Cristobal Comimissary......................... 9 80 9 80
)2023 Extractor, Ancon Laundry............................ 2,088 65 2,088 65
2024 Shipping Crates, Commissary Division.................. 1,663 86 1,663 86
2025 Equipment, Ancon Laundry............................ 912 89 912 89
2026 Replace piling Dock 6, Cristobal....................... 2,016 94 2,016 94
2029 Replace piling Dock 7, Cristobal....................... 3,406 42 8,406 42
2030 Replace piling Dock 8, Cristobal........................ 1,919 81 1,919 81
2031 Rep'-ace riggers walkway, Dock 8....................... 320 05 320 05
2032 Construct Yard Office, Balboa.......................... 783 87 783 87
2033 Repair Roof, Pier 9, Cristobal.......................... 481 56 481 56
Totals....................................... $121,298 32 $515,081 86
PANAMA RAIL ROAD COMPANY 45
TABLE No. 28
STATEMENT SHOWING PRINCIPAL ITEMS OF COMPLETED CONSTRUCTION WORK
AND EQUIPMENT ADDED TO CAPITAL ACCOUNT DURING THE FISCAL YEAR
ENDED JUNE 30, 1933
Installation of two Printing Telegraph Machines for rental in off ices of the
Panama American Publishing Company .....................$2,079 00
Installation of two new dry tumblers in Ancon Laundary..............5,834 40
Installation of one cracker-cutting machine in Mt. Hope Bakery................ 2,752 60
Installation of Wig-Wag signal at grade crossing in Corozal.................... 725 80
Installation of telephone cable for telephone distribution on the west side of
the CnCanal ....*....'.**.*..*.*..*.*'.*.**.*..*.....*..*.........'.*'.*..*.'..*.**.'.*'.'...2,3542,5406
Installation of ten teletype machines for rental to Locks and Marine Divisions
of the Panama Canal ................................5,722 83
Installation of Wig-Wag signal south of Ba lboa He ights Statio*n............610 70
Municipal improvements and fill for 6 blocks south of 9th Street in Colon, R.P 332,824 21 Municipal improvements in Santa Cruz Area development project in Panama, R. P 40,324 34 Installation of two teletype machines for rental in Cristobal and Panama branches
of the Chase National Bank........................................... 1,378 09
Total............................................. $394,606 03
ITEms REMOVED FROM CAPITAL ACCOUNT:
Various Tracks removed.............................................. $4,790 00
Barge 87 Surveyed................................................... 18,262 64
Trailer Surveyed ............................................... 149 50
Batteries and accessories............................................... 22,822 93
Coal Plant Equipment Surveyed......................................... 617 89
Telephone Equipment Surveyed.......................................... 363 26
Building 802, Colon, demolished....................................... 4.000 00
Commissary Buildings abandoned........................................ 235,591 35
Total................................................ $286,597 57
46
PANAMA RAIL ROAD COMPANY
TABLE No. 29
CONSTRUCTION WORK IN PROGRESS AT CLOSE OF FISCAL YEAR ENDED JUNE 30, 1933
AFE. ETMT
No. ETMT
1957 Purchase and Installation of equipment for telephone service at Madden Dam $19,125 00 2006 Alterations and improvements to refrigerating system at Ancon Commissary 2,562 90 2023 Purchase and installation of one 48" open top laundry extractor in Ancon
Laundry ..........................................................2,276 61
2025 Purchase and installation of miscellaneous -new equipment in Ancon Laundry 8,908 00 2027 Purchase and installation of two tape type teletypes for rental. One in
the Patilla Point Off ice and one in the France Field Office of the PanAmerican Airways, Inc ............................................ 1,400 00
2028 Purchase and installation of 12 Westinghouse mechanically ref rigerated
water coolers in Commissary Division units......................... 2,500 00
2032 Construction of Yard Office Building in Balboa Yard..................... 7,325 00
Total............................................... $44,097 51
lit"3 3 TWO"
3. 3/
(/
333
3' '
3 3" '"3
c,.''v,
i4,
(/9
1'~
43
4"
3' 4
'v 4
"'3"
''.3' .'
I," A '
('Al
'jT -4I
3" 33
/3"
3'" 43. '3 "' >3! 3t<'
4'
3' ' 3'
3' '3
'3 '3. '
':7 <4">'
<3 3.'"' 3''
.4<7'
~(~3
7'; '4" '3 3 '1''
"3 '3 ""'3 '3!:'
33!' A"'
73"
NJ
'3 '3 3<' '3
AF 4
$3
333
3 33 44'
'1
3,333 '
K":'
'3!
33
'3
3''
3/'
-r W
UNIVERSITY OF FLORIDA
III11111111111111111 lil11111111 11111111
3 1262 08537 0061
4
#~
low,~
|