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THE NORTH CAROLINA
YEAR ENDING DECEMBER 31, 1900.
RALEIGH, N. C.:
NORTH CAROLINA CORPORATION COMMISSION.
LETTER OF TRANSMITTAL.
OFFICE OF THE
RALEIGH, N. C., January 28, 1901. To His Excellency, CHARLES B. AYCOCK,
Governor of North Carolina. DEAR SIR:-We submit herewith the Second Annual Report of the North Carolina Corporation Commission, comprising the annual reports of Steam Railroad Companies, Street Railway Companies, Sleeping Car Companies, Express Companies, Telegraph and Telephone Companies for the fiscal year ending June 30, 1900, the last report of State Banks of the State of the date of the 30th day of September, and Building and Loan Associations, and the statistical tables compiled therefrom.
This report was ready, and would have been sent in during the first week of January, but for the fact that we hoped to be able to report a settlement of the Railroad Tax suits, which were pending. If these suits had not been settled, it would have been necessary for us in this letter to have gone into the history of them, and to have given the facts fully in reference thereto.
The railroads in this State have had a most profitable year, as will appear from the examination of the annual reports of each railroad company. The gross earnings of all the railroads from operation in North Carolina were $14,919,832, against $12,995,725 for 1899, $11,543,516 for 1898, and $11,252,359 for 1897; while operating expenses were $9,336,881, against $8,186,500 for 1899, $7,395,548 for 1898, and $7,657,786 for 1897—so that the income from operation was $5,582,950, against $1,809,235 for 1899, $4, 147,968 for 1898, and $3,594,573 for 1897. Out of the income