Company capital
The fact that the shares were low-cost (100 pesetas) was due to the ideosyncratic nature of the railway, as the premise was that the company's capital would always be in the hands of the inhabitants of Sant Felíu de Guíxols. As the cost of the construction work was higher than expected, new bond issues had to be made in the following years, as follows:
|
Year |
Series |
Amount |
Type |
Amount in pts. |
Issue amount |
Interest |
Redemption |
|---|---|---|---|---|---|---|---|
|
1890 |
A-B-C* |
15.361 |
Shares |
100 |
1.536.100 |
-- |
-- |
|
1891 |
1ª |
2.000 |
Bonds |
500 |
1.000.000 |
6 % |
60 anys |
|
1893 |
2ª |
1.000 |
Bonds |
500 |
1.000.000 |
6 % |
60 anys |
|
1894 |
AA (1) |
3.000 |
Bonds |
500 |
1.500.000 |
5 % |
60 anys |
|
1903 |
BB (2) |
3.000 |
Bonds |
500 |
1.500.000 |
4 % |
64 anys |
|
1925 |
C (3) |
1.500 |
Bonds |
500 |
750.000 |
6 % |
60 anys |
|
* in certificates of 25 shares (series A), 5 shares (series B) and 1 share (series C) |
|||||||
The high interest offered on the first bond issues became a heavy financial burden, so in subsequent years the bonds were exchanged for a new issue at 5%, constituting the AA series. At the general meeting of shareholders in 1903, it was again agreed to lower the interest rate to 4%, and the issue was changed to series BB. The last capital increase took place with the last purchase of material in the 1920s, and a new issue of series C bonds was made in 1924. The world crisis of 1929 led to a worsening of the company's financial situation, and redemption and interest payments were suspended. This problem was resolved after the Civil War and in 1942 the financial charges were regularised by a ruling of the Court of La Bisbal on 11 October 1943. In any case, it was not until 1956 that, through the sale of locomotives 11 and 12, all the 1925 debentures were repaid.
Dividends distributed among shareholders
|
Year |
amount per share Pts. |
Year |
amount per share Pts. |
Year |
amount per share Pts. |
Year |
amount per share Pts. |
|||
|
1892 |
1 |
1909 |
1,50 |
1917 |
-- |
1925 |
3 |
|||
|
1893-1902 |
-- |
1910 |
3 |
1918 |
3,50 |
1926 |
2 |
|||
|
1903 |
1,50 |
1911 |
4 |
1919 |
5 |
1927 |
3 |
|||
|
1904 |
2,50 |
1912 |
4 |
1920 |
4 |
1928 |
-- |
|||
|
1905 |
2,50 |
1913 |
2,50 |
1921 |
4 |
1929 |
2 |
|||
|
1906 |
3 |
1914 |
-- |
1922 |
5 |
1930-63 |
-- |
|||
|
1907 |
3 |
1915 |
1 |
1923 |
5 |
|
|
|||
|
1908 |
2 |
1916 |
|
1924 |
5 |
|
|
Government subsidies
|
Year |
amount |
Year |
amount |
Year |
amount |
Year |
amount |
|||
|
1892 |
5.000 |
1907 |
12.348,56 |
1920-21 |
156.720,90 |
1954 |
643.660,86 |
|||
|
1893 |
5.000 |
1908 |
15.466,54 |
1922 |
82.091,90 |
1955 |
1.010.333,55 |
|||
|
1894 |
5.000 |
1909 |
15.466,54 |
1923 |
3.999,96 97.017,70 |
1956 |
1.220.727,51 |
|||
|
1895 |
5.000 |
1910 |
15.466,54 |
1924 |
6000,04 38.245,95 |
1957 |
1.095.788,59 |
|||
|
1896 |
5.000 |
1911 |
15.466,54 |
1925-28 |
sense subv. |
1958 |
1.259.973,35 |
|||
|
1897 |
5.000 |
1912 |
15.466,54 |
1929 |
5.464,58 |
1959 |
1.205.200,19 |
|||
|
1898 |
5.000 |
1913 |
15.466,54 |
1930-49 |
sense subv. |
1960 |
1.212.372,06 |
|||
|
1899 |
5.000 |
1914 |
15.466,54 |
1950 |
526.018,94 |
1961 |
1.808.739,96 |
|||
|
1900 |
5.000 |
1915 |
15.468,54 |
1951 |
503.931,20 |
1962 |
2.155.502,22 |
|||
|
1901 |
5.000 |
1916 |
15.466,54 |
1952 |
840.945,58 |
1963 |
1.701.719,34 |
|||
|
1902-06 |
sense subv. |
1917-19 |
sense subv. |
1953 |
488.593,91 |
|
|
|||
| * Subsidy from Sant Feliu de Guíxols Town Council * Subsidy from the Provincial Council of Gerona. *Grant in advance from the State for the improvement of the personnel assets (R.O. 23/03/20) |
||||||||||
Operating results
|
Year |
Revenue from passengers |
Revenue from merchandise |
Other items |
Total |
Total expenditure |
Operating ratio % of total costs |
|
|
P.V. |
G.V. |
||||||
|
1892 |
118.797,45 |
30.952,56 |
-- |
-- |
149.750,01 |
95.777,90 |
63,95 |
|
1893 |
75.263,02 |
54.663,09 |
7.830,60 |
11.703,64 |
249.463,02 |
159.185,60 |
61,90 |
|
1894 |
174.347,80 |
61.126,10 |
9.537,60 |
-- |
245.011,50 |
151.670,07 |
61,90 |
|
1895 |
160.597,85 |
65.513,65 |
10.439,55 |
1.598,56 |
238.149,61 |
150.483,63 |
63,19 |
|
1896 |
157.660,80 |
67.387,30 |
12.112,40 |
1.342,00 |
270.109,78 |
182.604,86 |
63,25 |
|
1897 |
179.938,60 |
76.604,35 |
13.301,90 |
364,93 |
270.109,78 |
182.604,86 |
67,60 |
|
1898 |
173.956,69 |
94.587,36 |
12.562,15 |
-- |
281.106,20 |
193.186,47 |
68,72 |
|
1899 |
184.411,45 |
113.939,48 |
12.101,29 |
1.456,63 |
311.908,85 |
206.555,05 |
66,22 |
|
1900 |
179.024,01 |
99.492,99 |
11.798,75 |
1.616,18 |
291.931,93 |
202.017,41 |
69,20 |
|
1901 |
173.714,37 |
99.356,62 |
9.935,14 |
1.051,38 |
284.057,51 |
195.102,72 |
68,68 |
|
1902 |
187.681,27 |
106.740,80 |
9.851,72 |
3.694,39 |
307.968,18 |
204.373,47 |
66,36 |
|
1903 |
192.297,61 |
134.164,12 |
11.340,64 |
8.927,43 |
346.729,80 |
221.656,39 |
63,93 |
|
1904 |
195.007,26 |
136.171,96 |
11.580,03 |
7.229,96 |
349.989,21 |
216.642,44 |
61,90 |
|
1905 |
189.249,97 |
131.695,58 |
10.912,78 |
6.561,72 |
338.420,05 |
213.070,68 |
62,96 |
|
1906 |
191.499,21 |
158.348,69 |
10.550,92 |
4.916,28 |
365.315,10 |
224.969,96 |
61,58 |
|
1907 |
195.998,97 |
144.608,19 |
13.151,01 |
4.736,72 |
358.494,89 |
222.887,82 |
62,17 |
|
1908 |
190.810,91 |
147.637,79 |
12.385,54 |
3.296,75 |
354.130,99 |
228.878,21 |
64,63 |
|
1909 |
173.147,80 |
149.575,89 |
10.300,25 |
3.149,91 |
336.173,85 |
223.709,70 |
66,55 |
|
1910 |
187.449,02 |
153.835,10 |
19.915,15 |
3.764,86 |
364.964,13 |
224.144,15 |
61,42 |
|
1911 |
193.986,45 |
190.785,97 |
18.612,16 |
6.268,30 |
409.652,88 |
184.479,04 |
45,03 |
|
1912 |
200.056,33 |
174.507,90 |
15.075,34 |
7.049,23 |
389.639,57 |
242.631,10 |
62,27 |
|
1913 |
203.194,39 |
134.254,43 |
15.882,15 |
5.294,12 |
358.625,09 |
237.025,91 |
66,09 |
|
1914 |
169.580,98 |
111.885,79 |
15.714,07 |
3.645,02 |
300.825,86 |
218.276,77 |
72,56 |
|
1915 |
166.402,59 |
126.554,61 |
17.755,27 |
2.768,44 |
313.480,91 |
218.872,45 |
69,82 |
|
1916 |
173.819,65 |
174.854,39 |
20.409,76 |
2.534,52 |
371.618,32 |
264.144,91 |
71,08 |
|
1917 |
172.663,48 |
171.579,91 |
23.593,83 |
2.624,10 |
370.461,32 |
291.013,98 |
78,55 |
|
1918 |
213.972,78 |
236.414,85 |
29.849,58 |
2.717,52 |
482.954,73 |
350.952,14 |
72,67 |
|
1919 |
272.860,93 |
273.416,98 |
37.114,43 |
3.534,77 |
586.927,11 |
404.833,85 |
68,98 |
|
1920 |
321.790,08 |
264.664,97 |
52.365,45 |
5.732,84 |
644.553,34 |
447.699,00 |
69,46 |
|
1921 |
338.759,05 |
219.888,60 |
57.950,39 |
1.223,89 |
617.821,93 |
437.005,45 |
70,73 |
|
1922 |
343.603,02 |
224.885,42 |
50.113,91 |
2.565,00 |
621.167,35 |
382.754,93 |
61,62 |
|
1923 |
355.363,04 |
227.978,12 |
46.200,79 |
6.196,03 |
635.737,98 |
391.648,52 |
61,61 |
|
1924 |
353.292,30 |
283.835,62 |
53.630,53 |
830,85 |
691.589,30 |
500.671,18 |
72,39 |
|
1925 |
364.437,27 |
328.791,40 |
48.789,21 |
1.797,40 |
743.815,28 |
540.680,69 |
72,69 |
|
1926 |
372.248,59 |
339.744,96 |
54.181,56 |
1.089,64 |
767.264,75 |
516.547,84 |
67,32 |
|
1927 |
333.222,40 |
362.346,98 |
41.377,78 |
718,52 |
737.665,68 |
548.855,09 |
74,40 |
|
1928 |
303.144,88 |
312.704,34 |
37.944,22 |
889,10 |
654.682,54 |
541.899,26 |
82,79 |
|
1929 |
318.620,59 |
331.353,54 |
35.206,47 |
2.389,91 |
687.570,51 |
532.290,38 |
77,42 |
|
1930 |
306.047,78 |
301.151,04 |
29.612,07 |
1.987,30 |
638.798,19 |
507.286,89 |
79,41 |
|
1931 |
271.591,10 |
250.699,25 |
23.379,95 |
2.677,62 |
548.047,92 |
526.830,48 |
96,13 |
|
1932 |
256.825,11 |
213.851,47 |
20.475,97 |
912,33 |
492.064,88 |
462.723,82 |
94,04 |
|
1933 |
271.482,78 |
211.945,55 |
19.395,97 |
1.232,15 |
504.056,45 |
450.142,73 |
89,30 |
|
1934 |
263.625,75 |
208.892,42 |
21.127,14 |
827,05 |
494.472,36 |
481.428,54 |
97,36 |
|
1935 |
258.319,86 |
214.920,08 |
21.410,81 |
801,35 |
495.452,10 |
484.171,16 |
97,72 |
|
1936-38 |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
1939 |
354.774,58 |
127.440,99 |
24.394,10 |
8.933,06 |
515.553,26 |
427.988,50 |
83,02 |
|
1940 |
358.501,12 |
213.616,61 |
47.898,39 |
97.451,92 |
717.468,06 |
651.764,04 |
90,84 |
|
1941 |
401.663,13 |
230.820,02 |
72.729,19 |
234.262,79 |
939.478,13 |
827.251,32 |
88,05 |
|
1942 |
722.420,51 |
379.731,72 |
187.706,74 |
53.543,20 |
1.343.402,17 |
1.192.038,91 |
88,73 |
|
1943 |
691.455,70 |
490.678,56 |
156.783,71 |
57.532,08 |
1.396.449,65 |
1.312.601,45 |
94,00 |
|
1944 |
672.992,91 |
534.519,49 |
142.754,94 |
75.677,41 |
1.425.944,75 |
1.366.406,90 |
95,82 |
|
1945 |
779.047,34 |
568.313,97 |
131.001,14 |
11.750,47 |
1.490.112,92 |
1.425.129,64 |
95,64 |
|
1946 |
954.383,24 |
637.943,73 |
107.628,18 |
35.415,95 |
1.735.375,10 |
1.663.553,07 |
95,86 |
|
1947 |
1.191.411,12 |
620.762,60 |
97.230,80 |
19.159,07 |
1.928.563,59 |
1.971.216,65 |
102,21 |
|
1948 |
1.198.710,81 |
561.563,37 |
104.269,22 |
9.538,10 |
1.874.081,58 |
1.991.604,07 |
106,27 |
|
1949 |
1.180.797,72 |
507.464,73 |
92.425,77 |
11.762,25 |
1.792.453,47 |
2.067.212.37 |
115,33 |
|
1950 |
1.343.261,91 |
589.802,91 |
123.872,27 |
47.183,82 |
2.104.120,95 |
2.731.735,22 |
129,83 |
|
1951 |
1.357.600,27 |
661.012,82 |
65.510,74 |
2.084.123,83 |
2.841.039,83 |
119,04 |
|
|
1952 |
1.424.694,42 |
621.394,41 |
59.092,84 |
2.105.181,67 |
3.086.820,33 |
146,63 |
|
|
1953 |
1.356.309,76 |
505.528,27 |
82.637,89 |
1.944.475,92 |
2.977.292,64 |
153,12 |
|
|
1954 |
1.613.640,11 |
529.697,06 |
445.448,23 |
2.588.785,40 |
3.714.465,98 |
143,48 |
|
|
1955 |
1.571.573,65 |
514.494,56 |
518.252,80 |
2.604.321,01 |
3.984.170,62 |
152,98 |
|
|
1956 |
1.517.437,54 |
480.744,57 |
552.743,81 |
2.550.925,92 |
4.393.363,06 |
172,23 |
|
|
1957 |
1.751.820,96 |
601.284,43 |
655.171,78 |
3.008.277,17 |
5.941.781,99 |
197,51 |
|
|
1958 |
1.838.371,00 |
549.301,84 |
781.732,08 |
3.169.404,92 |
5.845.617,60 |
184,44 |
|
|
1959 |
1.873.019,70 |
621.252,48 |
682.578,93 |
3.176.851,01 |
5.858.374,23 |
184,41 |
|
|
1960 |
2.095.564,27 |
792.746,33 |
765.386,71 |
3.653.697,31 |
6.570.234,82 |
179,82 |
|
|
1961 |
2.302.924,88 |
502.856,47 |
975.541,35 |
3.781.322,70 |
6.465.932,83 |
171,00 |
|
|
1962 |
2.350.117,75 |
474.153,92 |
1.113.771,32 |
3.938.042,99 |
7.049.415,58 |
179,01 |
|
|
1963 |
2.165.999,30 |
434.338,63 |
1.053.852,42 |
3.654.190,35 |
8.366.693,76 |
228,96 |
|
|
1964 |
1.753.479,10 |
143.916 |
161.930 |
792.849,56 |
2.993.821,66 |
8.505.577,61 |
284,10 |
|
1965 |
1.293.931,00 |
258.079 |
199.414 |
1.316.301 |
2.916.078 |
8.339.856 |
286,00 |
|
1966 |
944.134,00 |
60.662 |
131.785 |
1.577.651 |
2.714.232 |
8.309.637 |
306,15 |
|
1967 |
732.303,00 |
39.900 |
117.182 |
1.844.059 |
2.733.444 |
8.411.247 |
307,72 |
|
1968 |
372.643,00 |
12.504 |
86.722 |
2.078.777 |
2.550.646 |
8.675.829 |
340,14 |
|
1969 |
72.271 |
-- |
16.681 |
1.465.044 |
1.553.996 |
2.811.743 |
180,94 |
The total lack of profitability, the progressive deficit generated and the suspension of State subsidies forced the company to abandon the operation, which passed to the State through E.F.E., later F.E.V.E. from October 1963. Initially, an attempt was made to modernise the line.