a^4 I HE w^ CORNELL UNIVERSITY LIBRARY Cornell University Library HE2713 .B95 Railway earnings in 1918 olin 3 1924 030 124 469 BULLETINS OF tHE BUREAU OF EAILWAY ECONOMICS MONTHLY BULLETINS The monthly summary of Bevenues and Expenses of Steam Roads in the United States has been issued regularly since Jul^r, 1910. ?' i \ I Following is the list of BuUetms for the last tw^ve months: ; CJonsecutive Monthly Report Number. Series. Month of^ 1^3. 93. February, 1918. ; 124. 94. March, 1918. 125. 95. April, 1918. 126. 96. May, 1918. ;, 12T. 97; June, 1918. 129. 98, Jply, 1918. i3o; 99. August, 1918. 131. 100. Septembfer, 1918. 132. 101. October, 1918. 133. 102. November, 1918. '.:'- iSi. ■'■ 103. December, 1918'. 135, . 104. January, 1919. The following issues are out of print and i 1 Consecutive Monthly Repiort Number. Series. Month ofr-^ 1. : : 1. ■ July, 1910. 3. 3. September, 1910. 7. 5. October, 1910. 9. 1. ' ' December, 1910. 10. 8. January, 1911. 12. 9. February, 1911. 13. 10. March, 1911. 19. 13. June, 19il. ' ,22.", . 15. August, 1911. 26, 17. October, 1911. • 27. 18. November, 1911. 29. 19. December, 1911. 30. 20. ■ January, 1912. 32. 21. February, 1912. 33.' * 22. March, 1912. 49. . S5. -April, 1913. 51, 37. June, 1913. 56. 41. October, 1913. 65. 49. June, 1914. (Continued to Pag^ 3 of C>ovVt)v Railway Earnings in 1918 (Compiled from Reports to the Interstate Commerce Commission of Railways Haying Annual Oper- ating Revenues Above $1,000,000) Bureau of Railway Economics < -Washington, D. C. April, 1919. 6^6 L. C. CARD A19-323. ; i-i H ^ 1^ TEXT. The Bureau of Railway Economics herewith presents preliminary statistics of the earnings of railways of Class I in 1918. Table I, page 5, summarizes the earnings and expenses of the 195 railways of Class I (180 carriers and 15 switching and terminal companies, each having annual revenues above $1,000,000), and compares the aggregates of 1918 with those of 1917. Operating revenues for 1918 amounted to $4,913,319,604, an increase over 1917 of $862,856,025, or 21.8 per cent. Freight revenue increased 21.7 per cent, and passenger revenue 24.7 per cent. Operating expenses aggregated $4,006,894,762, which was an increase over 1917 of $1,148,682,552, or 40.2 per cent. Maintenance of way expendi- tures increased 46.7 per cent, maintenance of equipment 60.4 per cent, and transporta- tion 33.7 per cent. The operating ratio was 81.55 per cent, as compared with 70.57 per cent in 1917. Net operating revenue amounted to $906,424,842, a decrease of $285,826,- 527, or 24 per cent. Taxes were $186,652,095, an increase of 2.1 per cent over 1917. Net operating income amounted to $690,418,778, a decrease of $284,360,159, or 29.2 per cent, compared with 1917. The net operating income for 1917 was greater by about $70,000,000 than the annual average of the three years ended June 30, 1917, the test neriod which formed the basis of the standard return guaranteed to the roads by the Railroad Control Act of March 21, 1917. Accordingly, the point of greatest interest in connection with the net income earned in 1918 is not the $284,000,000 by which it fell below that for 1917, but the approximate difference of $214,000,000 between the $690,000,000 actually earned by roads of Class I under government operation during 1918 and the $904,000,000 which they earned annually during the test period. Comparison is made in the following text table of the returns of 1918 with the average annual results of the three-year test period. RAILWAYS OF CLASS I: UNITED STATES. (000,000 omitted) Item. Operating revenues Operating expenses Net operating revenue.. Taxes Net operating income Operating ratio — Per cent... Test period Per cent 1918. average of increase 1915-1917. or decrease. $4,913 $3,391 Inc. 44.9 4,007 2,293 Inc. 74.7 906 1,098 Dec. 17.4 187 152 Inc. 22.6 690 904 Dec. 23.7 81.6 67.6 As compared with the annual average of the test period, operating revenues in 1918 increased 44.9 per cent and operating expenses 74.7 per cent, while net operating revenue decreased 17.4 per cent. The operating ratio rose from 67.6 per cent to 81.6 per cent. Taxes increased 22.6 per cent. Net operating income decreased from $904,- 000,000 to $690,000,000, or 23.7 per cent. It should be noted in connection with the operating expenses of 1918 that the ag- gregate shown in the text table and in Table I ($4,007,000,000) does not include the cost of maintaining the corporate organizations of the railways. This cost represents a substantial sum, the exact amount of which is not yet available. Corporate expenses were a part of the operating expenses of 1917 and of the test period, but are excluded from the corresponding accounts for 1918. For an exact comparison of the total oper- ating expenses of 1918 with those of 1917 and the test period, the corporate expenses should be added to the operating expenses of 19lfe, which would correspondingly swell the increase over 1917 and over the test period. Table II, pages 6 and 11, gives for each railway company the comparative sta- tistics of earnings and expenses for the years 1918 and 1917. This table takes the place of the insert that for several years has been issued as a supplement to the Bureau's summary of railway revenues and expenses for the last month of the year. Table III, pages 12 to 16, gives the latest available statistics of standard return as certified by the Interstate Commerce Commission for each railway of Class I. Paral- lel columns show the net operating income earned in 1918, and the amount by which such net income was above or below the standard return. Nine roads not under Federal control are indicated in Table III by asterisks; the returns for these roads are included to make the record complete for Class I. Claims for special compensation in excess of the standard return, whether already agreed to by the Eailroad Administration or still pending, have not been included in the statistics of Table III. The entries of the first column of the table will be increased to the extent that such claims have been or will be allowed, while the third and fourth columns will be affected correspondingly. TABLE I. RAILWAYS OF CLASS I: UNITED STATES. Account. 1918. 1917. Increase or decrease 1918 compared with 1917 Amount. Per cent. Operating revenues $4,913,319,604 Freight 3,450,084,040 Passenger 1,031,229,266 Mail 53,502,591 Express 126,059,306 All other 252,444,401 Operating expenses 4,006,894,762 Maint. of way and struct 653,868,469 Maintenance of equipment... 1^108,030,396 Traffic 48,702,051 Transportation •. 2,051,193,850 General 112,048,965 All other 33,051,031 Net operating revenue 906,424,842 Taxes 186,652,096 Uncollectible revenue 613,206 Operating income 719,159,540 Operating rentals* Dr 28,740,762 Net operating income 690,418,778 Operating ratio — Per cent 81.55 Average mileage 233,022.91 $4,050,463,579 2,834,119,707 827,216,574 58,793,643 106,924,818 223,408,837 2,858,212,210 445,735,253 690,826,898 65,099,358 1,534,221,310 96,876,352 25,453,039 1,192,251,369 182,778,423 697,093 1,008,775,853 Dr 33,996,916 974,778,937 70.57 232,694.53 $862,856,025 616,964,333 204,012,692 d 5,291,062 19,134,488 29,035,564 1,148,682,552 208,133,216 417,203,498 d 16,397,307 516,972,540 15,172,613 7,597,992 i 285,826,627 3,873,673 d 83,887 d 289,616,313 5,256,154 d 284,360,159 i"328!38 21.3 21.7 24.7 9.0 17.9 13.0 40.2 46.7 60.4 26.2 33.7 15.7 29.9 24.0 2.1 12.0 28.7 15.5 29.2 0.6 d Decrease. * Debit balances of hire of equipment and joint facility rents. TABLE II. OPERATING RETURNS: Calendar Years Ending December 31, 1918 and 1917. Compiled from returns to the Interstate Commerce Commission of railways having annual operating revenues above $1,000,000. Road eastern District: Ann Arbor Atlantic City . B. & O. Chi. Term Baltimore & Ohio Bait.. Ches. & Atl Bangor & Aroostook.. Belt Ey. Co. of Chi._... Bessemer & Lake E.-. Boston & Maine B. & Sus. R. R. Corp. Buf.. Roch. & Pitts C. P. (Lines in Me.)..... Cent. New England Cent. R. R. of N. J Central "Vermont Chi. & East. Ill Chicago & Erie Chi.. Ind. & Louis Chi., T. H. & S. E Cin., Ind. & Western.. Cincinnati Northern.. C. C. G. & St. L Cumberland Valley Delaware & Hudson Del., Lack. & West Detroit & Mackinac D. & T. Shore Line..... D., Tol. & Ironton E. St. L. Connec. Ry.. Elgin, Jol. & East Brie Pond., John. & Glov.. Grand Rap. & Ind._. G. T. Lines in N. En.., Grand Trunk W Hocking Valley Ind. Harbor Belt...... Kanawha & Mich... Lake Erie & W... Lehigh & Hud. River Lehigh & N. Bng. Lehigh Valley Long Island Maine Central. Mary, Del. & Vir Michigan Central Monongahela 1 Monnn. Connect | Newburg & S. Shore.. New York Central... N. v.. Chi. & St. L... N. T.. N. H. & Hart.- N. v.. Ont. & West... N. T.. Phil. & Nor..... N. T.. Sus. & West... Pennsylvania Co. Pennsyl. Railroad. Pere Marquette... Phila. & Reading Pitts. & Lake Erie.. Pitts. & Shawmut Pitts. & W. Vir. Pitts., C, C. & St. L. Pitt.. Shaw. & Nor... Port Reading Average miles operated 1918 295.56 170.18 91.46 5,029.21 87.61 632.35 31.48 208.44 2,258.61 265.15 585.07 233.70 301.30 684.06 411.20 1,131.40 269.56 657.06 374.18 321.68 247.61 2,392.48 163.68 902.73 955.09 381.90 61.90 459.79 3.31 806.60 1,989.12 57.15 569.90 169.41 1,017.94 349.70 116.03 176.60 900.06 96.60 230.70 1,441.20 398.38 1,216.60 82.62 1,861.77 108.25 5.99 7.01 6,079.40 572.15 1,992.06 567.93 121.57 135.97 1,754.76 •5,403.74 2,238.54 1,126.95 224.56 94.59 63.31 2,394.11 204.67 21.16 Operating Revenues 1918 $3,585,908 4,252,270 1,761,486 174,191,448 1,436,440 4,863,223 3,899,765 13,417,564 69,911,393 2,249,666 18,479,659 2,409,261 6,063,156 44,790,671 5,188,837 26,753,092 11,039,823 11,017,274 5,000,956 3,137,153 2,812,980 71,403,970 5,917,543 34,789,864 68,740,076 1,557,034 1,999,02.6 3,413,341 1,118,382, 20,685,049 87,855,461 1,123,137 7,207,727 2,654,882 19,376,033 13,155,861 5,591,235 5,896,134 9,343,905 2,476,851 3,989,895 65,586,769 2.2,241,156 16,415,178 1,101,324 68,520,087 3,208,757 2,473,764 1,453,757 294,691,313 22,656,381 102,294,212 10,895,005 7,632,494 4,353,420 95,530,322 367,896,794 28,955,012 80,769,564 32,992,273 1,343,608 1,800,146 87,224,888 1,216,348 2,637,218 1917 Per cent of increase $3,138,943 3,215,426 1,940,003 133,933,068 1,281,365 4,384,562 3,805,947 12,372,619 59,186,815 1,785,856 14,975,000 2,424,739 5,477,288 37,096,739 4,482,811 21,012,173 8,794,149 9,161,898 3,805,025 2,639,537 2,440,830 52,650,920 4,838,904 29,989,399 57,211,224 1,350,450 1,827,430 2,903,354" 1,126,252 15,816,473 70,982,219 1,064,318 6,491,359 1,858,904 16,208,568 10,696,434 5,121,878 3,606,991 8,122,896 2,247,617 3,666,567 53,358,446 17,286,179 14,125,577 1,011,520 52,879,434 2,152,836 2,010,970 1,143,321 238,829,800 16,901,206 85,784,893 9,164,878 5,544,625 3,478,993 78,595,298 290,711,064 23,507,855 66,831,398 25,621,654 1,150,806 1,588,787 73,507,628 1,230,927 2,105,395 14.2 32,2 d 9.2 30.1 12.1 10.9 ?..5 8.4 18.1 2.6.0 23.4 d 0.6 10.7 20.7 15.7 27.3 25.5 20.3 31.4 18.9 15.2 35.6 22.3 16.0 20.2 15.3 9.4 17.6 d 0.7 5.5 11.0 42.9 19.5 23.0 9.2 63.5 16.0 10.2 22.9 28.7 16.2 8.9 29.6 49.0 23.0 27.2 23.4 34.1 19.2 18.9 37.7 25.1 21.5 26.6 23.2 20.9 28.8 16.8 13.3 18.7 . 1.2 25.3 Operating Expenses 1918 $3,195,423 2,901,005 2,699,703 160,592,180 1,428,935 4,239,517 3,775,409 9,167,238 64,430,772 2,267,654 17,577,208 2,697,159 5,396,353 36,369,271 5,588,539 24,085,560 9,741,123 9,291,784 4,373,050 3,151,064 2,342,938 51,895,2,89 3,710,506 31,353,784 49,925,685 1,488,458 1,097,306 3,795,141 1,315,530 14,785,277 87,663,773 696,889 6,474,945 3,132,614 17,240,052 10,448,792 6,397,712 4,207,119 8,440,012 1,953,119 2,784,120 57,346,025 16,739^071 16,029,746 1,141,761 51,070,072 2,271,116 2,207,322 1,144,075 232,403,705 17,489,757 87,746,523 9,974,524 6,283,433 3,794,070 86,550,257 333,694,318 23,315,551 65,889,372 22,365,184 1,302,785 1,932,495 79,131,535 1,706,354 1,792,417 1917 $2,384,890 2,341,724 2,004,365 103,330,896 1,173,327 2,990,368 2,786,632 8,672,234 46,947,628 1,411,022 11,878,566 2,129,438 3,618,488 26,412,863 3,730,310 16,398,363 6,659,439 6,482,004 2,889,489 2,127,458 1,767,2/12 38,059,421 2,541,842 23,449,953 37,676,488 1,071,039 878,252 2,670,684 870,681 10,997,720 60,817,685 602,218 5,116,260 2,392,406 13,833,076 7,409,123 4,131,520 2,543,12« 5,871,532 1,467,806 2,263,645 41,826,166 11,960,535 10,675,876 939,339 38,289,136 1,359,086 1,721,317 1,032,392 170,542,128 13,281,309 61,970,060 6,620,579 4,132,288 2,749,866 62,747,900 225,699,425 17,381,446 46,699,283 16,652,502 900,130 1,043,135 56,361,949 1,429,015 1,367,044 d Deficit or decrease. TABLE II. OPERATING RETURNS: Calendar Years Ending December 31, 1918 and 1917. Compiled from returns to the Interstate Commerce Commission of railways having annual operating revenues above $1,000,000. . Net Operating Revenues 1918 1917 Per cent of increase Taxes 1918 1917 Per cent of increase Net Operating Income 1918 1917 Per cent of increase $390,484 1,351,264 d 938,217 13,599,268 7,505 623,706 124,356 4,250,326 5,480,621 d 17,988 902,451 d 287,898 666,802 8,421,400 d 399,701 2,667,532 1,298,701 1,725,490 627,906 d 13,911 470,042 19,508,682 2,207,037 3,436,080 18,814,392 68,576 901,720 381,800 197,147 d d 5,899,772 191,687 426,248 732,782 d 477,733 2,135,981 2,707,069 d 806,477 1,689,015 903,893 523,732 1,205,775 8,240,744 5,502,086 385,432 d 40,437 17,450,015 937,641 266,442 309,682 62,287,608 5,166,624 14,647,689 920,481 1,349,061 559,350 8,980,065 34,202,476 5,639,460 14,880,192 10,627,089 40,823 d 132,349 8,093,353 d 490,006 844,801 $764,054 873,701 d 64,362 30,602,172 108,038 1,394,193 1,019,315 3,700,385 12,239,188 374,833 3,096,434 295,301 1,868,800 10,683,887 752,500 4,613,809 2,134,710 2,679,893 915,536 612,079 673,628 14,591,499 2,297,062, 6,539,446 19,534,736 279,411 949,179 232,670 256,671 4,818,753 10,164,534 462,100 1,375,098 d 633,602 2,375,492 3,287,312 990,358 1,063,865 2,251,363 779,810 1,402,922 11,532,280 5,325,644 3,449,701 72,181 14,590,298 793,760 289,653 110,929 68,287,672 3,619,897 23,814,833 2,644,299 1,412,337 729,127 16,847,398 65,011,639 6,126,410 20,132,115 8,969,162 260,676 545,662 17,145,679 d 198,088 738,351 d 48.2 54.7 dl,357.7 d 55.6 d 93.1 d 65.3 d 87.8 14.9 d 56.2 d 104.8 d 70.9 d 197.5 d 64.1 d 21.2 d 153.1 d 42.2, d 39.2 d 35.6 d 31.4 d 102.7 d 30.2 33.7 d 3.9 d 47.6 d 3.7 d 75.5 d 6.0 d 264.1 d 177.1 22.4 d 98.1 d 7.8 d 46.7 10.6 d 10.1 d 17.7 d 181.4 58.8 d 69.8 d 32.8 d 14.1 d 28.5 3.3 d 88.8 d 156.0 19.6 I 18.1 d 8.0 179.2 d 8.8 42.7 d 38.9 d 63.8 d 4.5 d 23.3 43.3 47.4 7.9 26.1 18.5 d 83.7 d 124.3 d 52.8 d 147.4 14.4 $157,200 144,495 359,537 4,784,146 37,927 213,418 197,075 241,627 2,190,399 42,780 294,680 137,962 186,470 1,899,983 198,932 940,350 328,618 391,453 174,000 123,917 129,871 3,638,918 116,522 848,987 2,941,212 99,786 12,9,038 103,300 26,269 699,057 2,331,677 65,523 273,273 181,240 601,682 483,590 122,124 227,934 340,066 71,600 103,409 1,874,237 1,069,859 803,928 19,797 1,899,790 62,991 38,898 98,308 11,964,360 647,530 3,216,376 297,124 256,024 175,346 3,480,625 10,636,236 697,136 1,718,737 884,277 14,589 170,924 2,879,068 21,795 112,697 $157,200 144,979 254,248 4,471,392 28,200 d 0.3 41.4 7.0 34.5 189,887 160,025 287,562 2,016,900 51,163 12.4 23.2 d 16.0 8.6 d 16.4 424,811 114,421 220,586 2,386,876 200,837 d 30.7 20.6 d 16.5 d 20.4 d 0.9 830,931 309,028 413,530 187,000 128,956 13.2 6.3 d 5.3 d 7.0 d 3.9 94,648 2,144,868 159,029 920,381 3,254,917 37.2 65.0 d 26.7 d 7.8 d 9.6 99,295 84,621- 96,908 21,605 619,090 0.5 52.5 6.6 21.6 d 3.2 2,377,819 46,906 364,986 136,121 584,947 d 1.9 18.4 3.1 33.1 2.9 612,668 99,991 211,376 397,052 66,400 d 21.1 22.1 7.8 d 14.4 9.5 113,498 1,953,954 938,676 726,905 12,814 d 8.9 d 4.1 14.0 10.6 54.6 1,762,795 37,628 30,322 69,970 11,611,144 7.8 67.4 28.3 40.5 3.0 607,912 3,336,980 316,179 169,131 172,001 6.6 d 3.6 d 6.0 51.4 1.9 3,600,025 9,971,762 563,224 1,796,067 1,334,963 d 3.3 6.7 23.8 d 4.3 d 33.8 13,397 112,450 2,874,967 21,541 95,748 8.9 52.0 0.1 1.2 17.7 $176,134 1,018,479 d 158,175 7,188,084 d 21,323 692,229 1,581,682 4,913,766 1,733,008 104,570 1,027,518 d 597,265 53,036 6,268,096 d 647,358 1,539,112 d 1,189,262 746,739 766,068 d 165,412 255,971 14,688,938 1,846,859 2,446,666 16,011,656 31,289 460,195 d 722,561 d 386,023 4,717,973 I 1,079,618 321,183 247,581 L 1,088,669 188,792 2„718,733 I 1,603,434 1,651,579 379,653 357,550 1,178,658 6,683,313 3,891,092 d 595,896 d 78,02r5 13,606,480 648,042 139,827 216,626 48,291,878 3,834,512, 7,534,334 548,583 972,603 419,034 4,284,827 18,316,770 3,814,052 8,847,389 9,839,665 130,256 d 328,012 2,973,777 d 119,445 489,964 $423,785 491,178 794,735 22,591,116 77,415 1,595,829 626,469 4.479,150 7,2S4,943 781,081 3,535,241 61,229 982,341 8,283,794 603,210 4,462,299 d 880,453 1,714,616 1,313,843 ^07,313 390,682 10,536,475 1,898,292 6,550,376 16,430,961 282,669 406,440 d 45,719 32,546 2,433,632 8,671,221 377,044 926,110 d 731,041 d 341,055 3,314,957 d 551,647 1,507,986 1.478,131 525,373 1,368,093 9,688,471 3,503,2,80 2,729,314 48,992 8,886,386 371,431 158,399 d 37,249 54,451,337 2,117,959 15,351,475 2,262„251 1,119,550 574,739 10,710,556 49,963,343 3,638,672 13,777,017 7,435,472 528,006 447,131 11,688,085 152,767 170,044 d 58.7 107.4 d 119.9 d 68.2 d 127.5 d 62.9 152.5 9.7 d 76.0 d 86.6 d 70.9 d 107.6 d 94.6 d 24.3 d 207.3 d 65.6 d 35.1 d 56.4 d 41.7 d 140.6 34.5 39.4 2.7 65.9 2.6 d 88.9 13.2 dl480.4 dl283.0 93.9 d 112.5 d 14.8 d 73.3 d 48.9 155.4 d 18.0 d 190.7 9.5 d 74.3 d 31.9 d 13.8 d 31.0 11.1 d 12a. 8 d 259.3 53.1 74.5 d 11.7 578.9 d 11.3 81.0 d 50.9 d 76.8 d 13.1 d 27.1 d-60.0 d 63.3 4.8 d 36.8 32.3 d 75.3 d 173.4 d 74.3 d 178.2 188.1 TABLE II — (Continued). Road Rutland South Buffalo Staten Isl. R. T... Tol. & Ohio Cen... Tol.. St. Li. & West Ulster & Delaware Un. R. R. Co. (of Pa.) Wahash ....: West. Maryland Average miles operated 1918 415.11 35.55 23.54 435.66 454.17 West .Tersey & S. 128.88 35.45 II 2,519.41 II 707.57 S....II 359.20 \ Operating Revenues 1918. 4,540,589 1,563,096 1,934,751 10,026,558 8,306,127 1,006,444 7,078,314 1917 Per cent .of lincrease 4,325,369 1,168.509 1,493,513 8,088,541 7,041,663 1,008,893 5,732,626 48,246,411 I 40,471.999 | 15,402,352 I 13,fi38,450 | 10,599,543 J 8,555,048 Wheel. & Lake Erie...|| Southern District: || Ala. & Vickshurg || Ala. Great South I Atlanta & W. P I At., Bir. & Atlantic Atlantic Coast Line... 511.71 11 13,592,172 1 11,028.904 Birmingham South Car.. Clinch. & Ohio... Cen. of Georgia. .> Char. & West. Car Chesa. & Ohio Cin.. N. O. & T. P Coal & Coke Florida East Coast Ga. R. R. Lessee Org... Ga. South. & Pla Gulf & Ship Island, Gulf, Mobile & North... Illinois Central Louis. & Nashville. Louis.. Hen. & St. L... Mobile & Ohio Nash., Chat. & St. L... New Or. & North New Or. Gt. North... Norfolk & Western... Norfolk Southern Rich., Fred. & Pot Seaboard Air Line...-. Southern South. Ry. in Miss Tennessee Central Virginian .'. Washington South West. Ry. of Ala. Yazoo & Miss. Valley... Western District; Arizona Eastern At.. Top. & Santa Fe... Beau.. S. L. & West.. Bing. & Garfield Chicago & Alton 141.49 I 312.41 93.19 639.88 4,820.05 27.30 282.99 1,918.29 342.50 2,479.70 337.27 148.00 764.79 328.90 402.05 307.56 407.44 4,778.29 5,023.99 199.80 1,096.62 1,239.48 203.73 2,84.60 2,083.94 907.41 87.68 3,561.31 6,982.87 . 278.30 293.41 518.56 35.57 133.42 1,382.00 2,470,856 9,296,635 2,548,440 4,703,381 56,992,329 1,397,254 4,811,231 20,647,382 3,015,887 73,720,797 15,478,642 1,061,414 8,841,222 6,716,503 3,694,801 2,548,059 2,418,293 107,320,261 101,392,792 2,858,463 14,840,901 21,757,402 6,474,717 2,197,314 82,004,034 5,753,644 7,164,372 38,923,106 126,574,237 1,519,496 3, 01], 813 11,906,444 4,027,035 2,558,203 22,477,008 2,139, 7,151, 1,770, 3,983, 44,063, 1,201 4,063; 16,024, 3,401, 54,643 316 055 250 368 331 ,530 267 ;537 443 794 Chicago & N. W Chicago, Burl. & Q Chicago Gt. West Chicago Junction Chi., Mil. & St. Paul... Chi., P. & St. L Chi., R. T. & Gulf Chi.. R. T. /k. Pac Chi., St. P., M. & Om.., Colorado & Southern... 377.74 !l 4,478,691 8,643.19 11162,369,130 & Wyo Midland... 118.76 36.49 1,050.51 8,090.45 9,373.12 1,496.06 12.69 10,302.89 247.19 474.81 7,774.60 1,749.19 I 1,100.85 1,417,974 3,450,747 I 24,358,661 I 1127,295,678 1144,172,769 I 19,116,925 I 3,435,784 1132,894,455 Colorado Colorado Crip. Ck. & Col. Sp. Denver & Rio Grande...| Denver & Salt Lake.l 42.51 200.59 116.68 2,611.12 255.46 2,147.466 I 4,420,008 1 99,869,557 I 24,829,981 I 12,955,827 I f 1,123,241 I 1,012,639 I 927,306 I 31,352,214 I 2,055,509 I 13,051,819 970,919 8,140,167 4,366,637 2,983,428 2,328,741 2,322,650 87,144,786 76,907,387 2,22,6,650 13,604,507 15,194,755 4,969,265 1,916,218 65,910,242 5,299,914 5,249,407 30,345,146 90,716,569 1,309,222 1,797,252 10,242,473 2,763.407 1,725,860 18,152,123 4,269,650 140,978,936 1,034,52,3 3,351,394 20,525,689 108,264,983 122,342,707 16,368,32.3 3,260,982 113,739,202 2,191,451 3,899,173 85,709,549 21,476,509 10,966,664 1,164,541 1,622,443 1,113,170 28,423.138 2.065,217 Operating Expenses 1918 I 5.0 33.8 29.5 24.0 18.0 o.a 23.5 19.2 12.9 23.9 23.2 15.5 30.0 44.0 18.1 29.3 16.3 18.4 28.8 2,5.6 34.9 18.6 i a 8.6 53.8 23.8 4.1 23.2 31.8 28.4 9.1 43.2 30.3 14.7 24.4 8.6 36.5 28.3 39.5 16.1 67.6 16.2 45.7 48.2 23.8 4.9 15.2 37.1 3.0 18.7 17.6 17.8 16.8 5.4 16.8 1 2.0 13.4 16.5 15.6 18.1 4,387,181 1,252,702 1,700,426 8,914,123 6,424,138 1,014,644 6,355,141 I 40,124,609 15,526,447 10,105,860 11,265,852 2,045,118 7,103,515 1,730,355 5,038,455 42,663,302 1,014,762 3,625,561 15,961,992 2,317,402 54,143,002 12,604.040 1,194,010 6,742,703 4,358,772 3,249,538 2,033,132 2,156,111 90,184,411 79,556,971 2,004,819 14,131,172 17,623,564 5,192,415 1,693,879 61,579,297 5,273,561 3,824,211 33,346,793 91,810,425 1,349,119 2,712,527 9,277,917 2,074,093 1,844,739 16,731,537 1917 Per cent of increase I. a d 2,736,506 114,912,376 962,635 1,854,093 20,677,429 109,498,572 112,067,616 17,783.098 3,792,094 122,196,105 I 2,541,164 I 3,328,098 I 86,098,574 I 20,884.199 9,376,990 3.5 II 854,790 c II 1,266,028 16.7 II 553,276 10.3 II 25,293,,475 0.5 II 2.889.559 3,275,722 902,676 1,166,915 6,114,305 5,023,863 797,475 5,699,962 28,468,896 9,561,316 7,002,130 7,378,213 1,501,242 4,734,410 1,241,228 3,322,257 29,773,995 1,161,822 2,333,597 11,045,849 1,527,928 38,105,806 8,841,061 838,630 4,501,196 2,940,044 2,336,080 1,552,310 1,589,401 62,339,834 52,998,759 1,452,321 10,352,977 11,550,032 3,339,505 1,244,807 41,161,503 3,680,368 2,863,814 21,717,178 60,113,598 976,816 1,379,302 5,698,862 1,362,023 1,241,846 12,470,133 2.135,142 88,504,050 664,055 1,339,771 15,133,977 78,758;989 78,632,344 12,492,412 2,897,904 85,195,964 1,868,197 2,557,014 63,489,090 15,841,313 6,797,304 712,488 I 1,664,557 519,472 I 19,728,428 I 2,041,509 I I d Deficit or decrease, a Returns for coal and coke for 1918 cover nine months to Septem- ber 30; road merged with Baltimore & Ohio on October 1. b Less than one-tenth of one per cent, c Returns for Colorado Midland cover eleven months to November 30; road dismantled. TABLE II— (Continued). Net Operating Revenues 1918 1917 Per cent of Increase 153,408 310,394 234,325 1,112,435 1,881,989 d 8,200 723,173 8,121,802 d 124,095 493,683 2,326,320 425,738 2,193,120 818,085 d 335,074 14,329,02,7 382,492. 1,185,670 4,685,391 698,485 19,577,795 2,874,602 d 132,596 2,098,519 2,357,731 445,263 514,927 262,182 17,135,850 21,835,821 853,644 709,729 4,133,838 1,282,302 503,435 2.0,424,737 480,083 3,340,161 5,576,313 34,763,872 170,377 299,286 2,628,527 1,952,942 713,464 5,745,471 1,049,647 265,833 32,6.598 1,974,236 2,017,800 211,418 32,664 12,003,103 4,077,134 1,552,918 d 85.4 16.8 d 28.3 d 43.7 d 6.7 d 103.9 2,114.0 d 32.3 d 103.0 d 68.2 Taxes 1918 3,650,691 I d 36.3 638,074 2,416,645 529,022 661,111 14,289,336 39,707 1,729,670 4,978,688 873,516 16,537,988 4,210,758 132,289 3,638,972 1,426,594 i 647,347 I 776,431 733,249 24,804,952 23,908,629 774,329 3,251,530 ■ 3,644,723 1,629,760 671,411 24,748,739 1,619,546 2,385,592 8,627,968 30,602,971 332,405 417,949 4,543,611 1,401,384 484,014 5,681,990 d 33.3 d 9.2 54.6 d 150.7 0.3 863.3 d 31.5 d 5.9 d 20.0 18.4 d 31.7 a d 42.3 65.3 d 31.2 1,742,185 47,456,755 455,338 1,596,654 3,681,233 17,797,106 32,105,153 1,333,827 d 356,310 10,698,350 d 393,698 1,091,911 13,770,982 3,945,782 3,578,837 268,451 d 253,389 374,030 6.058,739 d 834,049 2,134,509 52,474,886 370,468 2,011,624 5,391,712 29,505,995 43,710,363 3,875,911 363,077 28,543,238 323,254 1,342,159 22,220,459 5,635,196 4,169,360 452,052 d 42,114 '593,698 8,694,709 23,708 33.7 64.2 30.9 8.7 10.2 78.2 13.4 21.3 25.0 17.5 70.4 40.0 35.4 13.6 48.7 . 28.4 . 42.1 39.4 47.4 1.1 d 18.4 d 9.6 22.9 d 20.6 d 31.7 d 39.7 d 26.6 d 65.6 d 198.1 d 62.5 1917 Per cent of increase 221,857 32,503 141,771 360,110 274,200 55,421 88,247 1,328,591 518,400 483,374 662,017 138,195 264,596 93,566 194,782 2,495,000 95,122 195,501 787,713 108,000 1,920,000 500,020 45,000 420,396 75,063 171,429 136,088 140,635 5,036,610 3,322,221 72,648 525,2,34 399,730 309,591 109,485 2,904,000 193,941 164,050 1,469,435 3,742,144 109,000 78,52,7 469,030 76,744 83,737 812,300 251,863 19,403 103,311 371,826 319,300 55,192, 65,818 1,453,593 464,607 485,500 612,387 139,177 403,335 134,115 180,652 2,264,000 40,199 214,945 767,220 109,133 1,644,075 707.772 48,000 570,632 73,954 193,454 129,119 140,566 4,785,501 3,190,994 91,673 511,744 661,979 329,198 86,953 2,960,560 195,120 159,300 1,380,253 3,530,950 110,702 56,376 440,453 74,065 121,142 761,094 d 11.9 67.5 37.2 d 3.2 d 14.1 d 22i.8 d 18.6 d 38.0 d 30.0 d 14.2 d 40.6 d 37.0 d 30.3 d3,418.0 193,808 6,726,927 32,901 114,101 713,002 I 5,497,481 5,511,594 671,092 29,155 6,185,935 90r803 147,031 4,302,863 1,288,404 564,000 47,944 75,504 I 86,984 1,197,000 108,000 0.4 34.1 8.6 11.6 0.4 Net Operating Income 1918 0.7 34.4 30.2 7.8 10.2 136.6 d 9.0 2.7 d 1.0 16.8 d 29.3 a d 26.3 1.5 d 11.4 5.4 b 5.2 4.1 d 20.8 2.6 d 39.6 d 6.0 23.9 d 1.9 d d 0.6 3.0 6.5 6.0 1.5 39.3 6.5 3.6 d 30.9 6.7 213,161 I 7,061,833 27,760 102,263 693,710 5,041,949 5,908,883 664,566 43,943 5,980,782 91,769 187,171 3,899,613 1,32,7,995 554,469 50,289 47,465 I 64,893 1,231,011 106,109 9.1 4.7 18.5 11.6 35,559 125,016 31,042 738,970 1,241,182 d 57,850 1,455,665 3,721,029 d 492,469 d 168,966 1,048,583 1917 Per cent of increase 323,995 2,038,471 647,348 d 584,761 11,625,128 309,612 1,098,306 3,905,339 548,532. 17,042,405 , I 3,047,946 I 976,502 46,364 140,099 1,534,243 1,132,272 125,669 601,115 7,211,273 4,150,225 862,798 2,035,737 I d 101,522 1,601,838 2,246,569 347,861 363,665 191,160 12,907,466 19,367,632 640,222 247,368 4,119,127 975,440 409,221 18,256,481 289,942 3,016,82,7 3.636,725 29,291,870 d 40,794 d 4,745 1,848.259 1,721,555 614,106 4,499,956 d 63.6 169.6 d 77.8 d 51.8 9.6 d 146.1 142.2 d 48.4 d 111.9 d 119.6 d 48.5 617,503 2^462,665 396,305 452,571 13,239,902 20,959 2,150,172 4,586,662 704,723 15,529,770 4,692,307 180,219 2,933,399 1,452,095 665,289 678,337 757,080 22,911,624 23,827,039 532,721 3,219,640 3,963,279 1,432,111 689,168 24,062,445 1,321,898 1,967,042 6,821,327 2,6,085,574 32,675 238,133 4,429,331 1,106,142 423,169 4,687,062 d 47.5 d 17.2 63.3 d 229.2 d 12.2 1,377.2 d 48.9 d 14.9 d 22.2 9.7 d 35.0 a d 45.4 54.7 d 47.7 I 9.0 d 6.7 1.0 d 33.7 3.4 d 1.1 d 21.4 10.3 d 3.0 1.7 d 4.7 c 34.0 d 2.8 1.8 1,472,292 41,558,303 I 244,762 I 1,677,169 I 1,776,749 ■ 12,441,437 25,016,100 21,457 133,513 3,643,192 d 529,254 968,722 8,211,683 2,624,720 2,941,746 191,813 d 276,630 269,012 5,434,321 d 961,458 I 1,793,606 45,365,745 157,602 2,099,492 3,606,135 24,397,856 37,319,640 2,871,113 783,677 20,684,764 155,309 1,240,594 17,491,759 4,219,232 3,532,390 d 46.4 d 74.8 d 43.7 d 18.7 20.2 d 92.3 3.9 d 31.9 d 40.6 d 24.1 d 78.1 53.4 d 46.7 12.3 d 224.8 d 102.0 d 58.3 55.6 45.1 d 4.0 d 17.9 d 8.4 55.3 d 20.1 d 50.7 d 49.0 d 33.0 d 99.3 d 83.0 d 82.4 d 440.8 d 21.9 d 53.1 d 37.8 d 16.7 d 46.5 358,686 d 84,437 I c 491,750 I d 45.3 7,395,552 I d 26.5 d 143,124 I d 571.8 TABLE II — (Coiii,iii«^.u, . Road Duluth & Iron Range. Duluth, Mis. & North.. Dul.. S. S. & At Dul., "Win. & Pae.-- Bl Paso & South... Fort Smith & "West. — Forth "Wor. & D. City.. Fort "Wor. & Rio Gr. Gal.. Har. & San An. Galveston "Wharf Great Northern. Gulf, Col. & Santa Fe.. Hous. & Tex. Central.. Hous. E. & "W. Tex Inter. & Gt. Northern.. Kan. City, Mex. & Or.. K. C. M. & Or. Qf T... iCan. City South Kan. City Terminal.. liOs An. & S. Lake — Louisiana & Arlc_. Louis. Ry. & Nav. Co. Louisiana Western Midland "Valley Mineral Range Average miles operated 1918 Minn. & St. Louis. ■M., S. P. & St. Ste. M.. Minn. & Inter Mo. & North Ark Miss., K. & T. Ry M. K. *. T. Ry. of T.... Mo., Okla. & Gulf....... Missouri Pacific M.L.& T.R.R.&S.S.CO Nevada Northern N. O.. Tex. & Mex... Northern Pacific. Northwestern Pacific- Oregon Short Line Or.-"W. Ry. & N. Co.. Panhandle & S. Fe Peoria & Pekin Un St. -To. & Gr. Ts St. L.. Br. & Mex_. St. L. Mer. Bri. Ter.. St. L.-San Fran St. L.. San P. & Tex.. St. L. Southwestern... St. L. So. Ry. of Tex.. San An. & Ara. Pass... Southern Pacific 1 So. Pac. Steam. Lines... Spokane Inter. Spo.. Port. & Sea T. R. R. A'n. of St. L.. Texark. & Ft. Smith.. Tex. & New Or Texas & Pacific Tol.. Peo. & "West Trin. & Brazos "Val Union Pacific Utah Ry Vick., Shreve. & Pac... Western Pacific Wich. Falls & North 285.26 411.23 601.01 175.10 1,028.03 253.65 454.14 235.22 1,371.10 13.50 8,2S8,21 1,934.03 928.09 190.94 1,159.50 272.16 465.71 774.43 24.08 1,167.10 302.34 356.40 207.74 387.05 100.90 1,646.75 4,239.44 195.44 365.24 1,736.16 1,796.04 332.00 7,221.11 400.67 168.05 191.22 6,584.36 507.23 2,325.53 2,066.56 741.01 19.36 258.46 548.18 9.26 4,761.28 134.41 968.70 814.70 732.45 7,049.24 554.74 36.83 81.08 469.65 1,946.62 247.70 368.80 3,624.43 98.66 171.47 1,011.65 328.68 Operating Revenues 1918 8,978,930 21,545,271 4,824,187 1,712,066 14,790,468 1,296,857 7,950,342 1,151,033 21,273,847 1,049,838 100,661,067 18,885,098 9,041,981 2,087,716 13,476,888 1,259,675 1,188,657 15,250,406 1,247,830 14,517,378 1,671,651 3,078,059 4,348,162 3,504,780 1,143,534 12,028,300 35,930,233 992,094 1,404,131 33,230,335 19,840,331 1,780,546 89,612,397 8,352,107 2,706,332 1,885,624 102,908,259 5,702,398 34,136,854 26,264,957 5,809,657 1,306,395 2,588,577 4,448,927 3,620,589 69,812,604 1,366,345 13,035,153 6,553,608 4,370,334 153,948,641 9,297,457 1,011.605 8,496,944 3,882,410 1,2,81,122 7,445,600 27,294,833 1,645,593 1,164,137 98,443,365 1,409,236 2,689,104 11,065,963 1,068,157 1917 7,371,399 15,306,600 4,316,295 2,02j6,109 13,634,863 1,179,849 6,546,863 1,008,719 19,737,997 1,092,444 88,534,163 .17,285,640 8,223,425 1,862,980 12,588,224 1,217,344 1,308,779 12,410,965 1,131,294 12,766,723 1,569,722 2,497,535 3,653,551 2,927,127 1,184,850 11,005,063 34,540,491 1,029,960 1,417,969 25,990,721 16,300,156 1,906,916 78,320,313 6,910,459 2,512,402 1,517,604 88,225,726 4,871,595 31,016,343 22,097,098 6,890,859 1,206,718 2,346,814 3,918,191 3,166,033 57,434,625 1,113,130 11,468,728 5,840,929 4,178,192 132,257,556 11,184,754 1,000,131 6,778,799 3,712,529 1,136,522 6,410,T)77 22,714,007 1,289,433 1,095,339 76,988,423 63,568 2,206,558 9,898,484 1,053,274 Per cent of increase 21.S 40.8 11.8 d 15.5 8.5 9.9 21.4 14.1 7.8 d 3.9 13.7 9.3 10.0 12.1 7.1 3.5 d 9.2 22.9 10.3 13.7 6.5 23.2 19.0 19.7 d 3.5 9.3 4.0 3.7 1.0 27.9 21.7 6.6 14.4 20.9 7.7 24.3 16.6 17.1 10.1 18.9 d 15.7 8.3 10.3 13.5 14.4 21.6 22.7 13.7 12.2 4.6 16.4 d 16.9 1.1 25.3 4.6 12.7 16.2 20.2 27.6 6.3 • 27.9 21.9 11.8 1.4 Operating Expenses 1918 4,744,742 7,957,433 4,263,021 1,485,393 8,629,020 1,120,475 6,036,623 1,103,127 14,986,130 687,690 84,389,570 14,829,929 6,397,011 1,566,079 11,643,003 1,604,682 1,513,658 11,525,000 1,113,030 10,871,687 1,460,451 2,585,974 2,348,527 2,622,291 1,101,262 11,371,097 29,690,608 962,898 1,420,776 27,146,342 18,693,166 2,047,800 73,231,738 5,578,72,8 1,343,756 1,497,139 71,516,302, 3,973,768 I 21,609,487 19,731,479 5,351,875 1,514,841 2,559,031 3,029,667 3,470,013 55,251,966 1,179,318 8,890,788 6,949,827 4,410,329 113,652,898 8,730,343 658,528 5,196,274- 3,193,112 838,558 6,153,503 21,900,380 1,668,113 1,536,887 59,877,810 704,531 2,223,357 7,891,618 1,389,803 1917 4,41S,HS4 7,140,655 3,452,572 - 1,629,373 7,299,959 941,700 4,032,634 879,912, 11,514,978 600,847 59,243,785 12,185,473 4,925,626 1,102,913 8,649.994 1,202,293 1,287,690 7,634,681 769,804 7,731,226 1,123,396 1,738,052 1,689,424 '2,040,800 1,122,601 7,851,575 22,964,794 733,998 1,122,310 18,755,295 13,410,410 1,693,817 63,248,038 3,902,010 1,067,865 985,047 63,297,861 3,113,695 16,478,294 14,878,199 4,166,650 1,073,650 2,345,541 2,399,261 2,294,780 37,474,558 1,028,101 6,193,968 4,702,892 3,517,595 83,644,357 8,847,670 614,626 3,305,940 2,122,111 570,855 3,900,767 15,389,766 1,184,774 1,281,177 46,938,666 48,866 1,397,315 6,190,055 977,843 d Deficit or decrease, a Returns for Utah Railway for 1917 cover one month only; road not operated separately prior to December 1. 10 "TSBLE II— (Continued). Net Operating Revenues 1 Taxes Net Operating Income 1918 1917 Per cent of increase 1918 1917 Per cent of increase 1918 1917 Per cent of increase 4,234,188 13,587,838 561,166 226,674 6,161,448 2,953,315 8,165,944 863,723 496,736 6,334,904 43.4 66.4 d 35.0 d 54.4 d 2.7 614,477 1,339,766 223,923 96,369 1,210,901 419,886 887,696 2a3,971 112,344 612,705 22.5 50.9 4.7 d 14.2 97.6 3,80.3,620 12,465,248 263,948 216,020 4,936,392 2,617,588 7,406,819 535,776 383,696 5,443,764 51.1 68.3 d 50.7 d 44.0 d 9.3 176,382 1,913,719 47,906 6,287,718 362,148 238,149 2,514,229 128,807 8,223,018 4 ft, 5 97 d 25.9 d 23.9 d 62.8 d 23.5 d 26.3 53,816 231,886 36,829 622,288 138,428 48,181 254,914 37,047 707,625 147,783 11.7 d 9.0 d 3.3 d 12.1 d 6.3 186,732 1,745,880 d 61,592 5,347,757 227,316 2,42,017 2,666,344 d 1,177 6,746,923 343,813 d 22.8 d 31.7 d6,133.0 d 20.7 d 33.9 16,271,497 4,055,169 2,644,970 521,638 1,833,885 29,290,378 5,100,167 3,297,799 760,067 3,938,230 d 44.4 d 20.5 d 19.8 d 31.4 d 53.4 5,626,103 863,696 406,118 72,928 390,000 6,297,189 838,164 447,217 79,201 358,232 d 10.7 1.9 d 9.2 d 7.9 8.9 11,978,791 2,824,146 2,286,307 404,017 1,372,281 23,260,587 3,608,943 2,847,680 640,370 3,253,235 d 48.5 d 21.7 d 19.7 d 36.9 d 57.8 a 345,007 d 326,001 3,725,406 134,800 3,646,690 15,052 21,089 4,776,284 361,490 5,035,497 d2,392.1 dl,641.1 d 22.0 d 62.7 d 27.6 73,157 64,031 694,447 212,475 717,990 75,363 64,434 692,912 236,898 714,519 d 2.9 d 0.6 17.1 d 10.3 0.5 d 334,318 d 361,531 2,782,977 2,184,424 2,746,635 d 37,039 d 8,815 4,110,006 2,235,366 3,946,164 d 802.6 d4,001.3 d 32.3 d 2.3 d 30.4 211,200 492,085 1,999,635 882,489 42,272 446,326 759,483 1,964,12,7 886,328 62,348 d 52.7 d 35.2 1.8 d 0.4 d 32.2 143,605 171,92,0 169,708 84,778 40,000 113,840 207,874 174,724 97,335 40,389- 26.1 d-17.3 d 2.9 d 12.9 d 0.9 77,637 198,746 1,823,579 750,888 9,740 366,832 518,516 1,827,452 765,787 3,889 d 78.8 d 61.7 d 0.2 d 1.9 150.4 657,2,04 6,239,685 29,19fi d 16,645 6,083,993 3,153,488 11,575,698 295,962 295,659 7,235,42,6 d 79.2 d 46.1 d 90.1 d 105.6 d 15.9 648,298 2,185,260 63,608 67,974 1,110,546 642,801 2,241,672 56,133 67,764 1,226,208 19.4 d 2.6 d 4.7 0.3 d 9.4 235,782 3,868,722 d 57,885 d 117,046 5,213,798 2,588,495 9,213,413 160,729 217,179 7,459,650 d 90.9 d 58.1 d 136.0 d 153.9 d 30.1 1,147,165 d 267,254 16,380,659 2,773,379 1,362,575 2,889,746 213,099 25,072,275 3,008,449 1,444,537 d 60.3 d 225.4 d 34.7 d 7.8 d 5.7 571,770 102,487 3,144,291 363,174 206,442 569,844 55,173 4,220,700 355,779 122,649 0.3 85.8 d 26.5 d 0.7 68.3 d 800,096 d 470,167 11,764,562 2,357,330. 1,106,659 618,739 9,980 20,376,042 2,670,601 1,284,431 d 229.3 d4,811.1 d 42.3 d 11.7 d 13.8 388,485 31,391,957 1,728,630 12,527,367 6,533,478 532,557 34,927,865 1,757,899 14,538,049 7,218,900 d 27.1 d 10.1 d 1.7 d 13.8 d 9.5 100,589 6,499,718 263,477 2,028,044 1,512,046 77,535 6,022,303 258,664 2,022,982 1,388,626 29.7 7.9 10.4 0.3 8.9 445,112 28,2,09,373 * 1,498,908 10,703,193 4,488,494 612,876 31,379,666 1,637,428 12,682,063 5,355,583 d 27.4 d 10.1 d 2.5 d 15.6 d 16.2 457,782 d 208,447 29,547 1,419,261 150,576 2,724,209 133,068 1,273 1,518,930 871,253 d 83.2 d 256.6 2,221.1 d 6.6 d 82.7 194,560 113,768 112,644 123,963 101,550 203,778 101,500 118,571 170,060 107,662 d 4.6 12.1 d 5.0 d 27.3 d 5.6 d 8,171 d 105,315 d 106,527 1,245,345 d 106,566 2,064,068 232,887 d 137,688 1,298,097 491,413 d 100.4 d 145.2 22.6 d 4.1 d 121.7 14,560,638 187,027 4,144,364 d 396,218 d 39,995 19,960,067 85,029 5,274,760 1,138,037 660,597 d 27.1 12/).0 d 21.4 d 134.8 d 106.1 2,735,673 19,531 519,409 260,653 181,554 2,692,866 19,445 503,717 368,491 194,947 1.6 0.4 3.1 d 32.0 d 6.9 11,199,410 d 117,666 3,672,695 d 343,124 d 129,476 16,427,707 d 318,781 5,161,200 1,294,786 610,422 d 31.8 63.1 d 28.8 d 126.5 d 121.2 40,285,743 567,114 353,076 3,300,671 689,298 48,613,199 2,337,184 385,605 3,472,859 1,590,417 d 17.1 d 75.7 d 8.4 d 5.0 d 56.7 7,127,320 101,409 49,308 810,006 400,828 6,089,375 75,326 38,876 712,948 401,331 17.0 34.6 26.8 13.6 d 0.1 33,970,463 4,034,653 267,707 2,679,866 1,866,682 42,650,633 6,097,087 291,417 2,697,640 2,410,142 d 20.2 d 20.8 d 8.1 d 0.7 d 23.9 442,564 1,292,097 5,394,453 d 22,521 d 372,750 565,667 2,509,320 7,324,252 104,659 d 185,838 d 21.8 d 48.5 d 26.3 d 121.5 d 100.6 92,853 256,082 1,086,^34 118,988 69,674 103,746 279,081 1,073,383 107,003 71,979 d 10.5 d 8.2 1.2 11.2 d 3.2 310,033 964,627 3,707,266 1 d 10,956 1 d 387,752 390,217 2,175,747 5,868,896 208,931 d 206,850 d 20.5 d 55.7 d 38.8 d 105.2 d 87.5 38,565,555 704,705 465,747 3,174,345 d 321,646 31,049,757 14,702 809,2,43 3,708,42,8 75,431 24.2 a d 42.4 d 14.4 d 526.4 3,446,321 39,707 132,687 600,976 108, 80S 3,412,113 10,885 119,292 491,247 97,785 1.0 a 11.1 22.3 11.3 35,616,554 . 589,157 322,495 2,575,300 d 489,516 27,278,818 d 17,135 758,607 3,017,281 d 38,756 30.6 a d 57.5 d 14.6 d 26.3 11 TABLE III COMPAEISON OF 1918 EARNINGS WITH STANDARD RETURN. EASTERN DISTRICT. Road Standard return Net operating income 1918 Amount by which net operating income was Greater than standard return Less than standard return Ann Arbor Atlantic City Baltimore & Ohio Chi. Term. Baltimore & Ohio Baltimore, Ches. & Atlantic Bangor & Aroostook Belt Railway of Chicago Bessemer & Lake Erie Boston & Maine Buffalo & Susque. R. R. Corp Buffalo, Rochester & Pittsburgh.... *Canadian Pac. (Lines in Maine).... Central New England Central R. R. of New Jersey Central Vermont Chicago & Eastern Illinois Chicago & Erie Chicago, Ind. & Louisville Chi., Terre Haute & Southeast Chicago, Ind. & Western..: Cincinnati Northern Cleve., Cincin., Chi. & St. Louis.... Cumberland Valley Delaware & Hudson Delaware, Lack. & Western Detroit & Mackinac Detroit & Toledo Shore Line Detroit, Toledo & Ironton East St. Louis Connec. Ry Elgin, Joliet & Eastern Erie Fonda, Johnstown & Glovers Grand Rapids & Indiana Grand Trunk Lines in New Eng. Grand Trunk Western Hocking Valley Indiana Harbor Belt Kanawha & Michigan Lake Erie & Western Lehigh & Hudson River Lehigh & New England Lehigh Valley Long Island Maine Central Maryland, Delaware & Virginia Michigan Central Monongahela Monongahela Connecting $526,883 222,066 1,254,546 25,611,892 86,647 1,555,775 869,442 4,674,714 9,478,075 592,628 3,276,410 251,555 1,468,124 9,352,301 779.098 2,946,001 225,129 1,620,259 922,785 422,213 317,628 9,938,597 1,228,967 7,409 600 15,749,477 310,664 456,512 210,169 127,220 2,862,177 15,503,939 359,583 929,385 Def 4,271 1,354,841 2,637,167 296,054 1,295,141 1,548,542 519,371 1,135,761 11,321,233 3,221,949 2,955,697 49,543 8,052,127 583,086 33,620 Def Def Def Def Def Def Def Def Def Def Def Def Def $175,134 1,018,479 158,175 7,187,683 21,323 592,229 1,581,682 4,913,766 1,733,008 104,570 1,027,518 597,255 53,036 6,268,096 647,358 1,539,112 1,189,262 746,739 766,068 165,412 255,971 14,688,938 1,846,859 2,446,556 16,011,656 31,289 460,195 722,551 385,023 4,717,973 1,079,618 321,183 247,581 1,088 669 188,792 2,718,733 1,603 434 1,651,579 379,653 357,550 1,178,658" 6,683,313 3,891,092 595 895 78,025 13,606,480 648,042 139^827 $796,413 712,240 239,052 4,750,341 617,892 2627179 37683 1^8557796 81,566 356,'438 42,897 669,143 5,554,358 64,956 106,207 $351,749 "lji2,721 18,424,209 107,970 963,546 7,745,067 488,058 2,248,892 848,810 1,415,088 3,084,205 1,426,456 1,406,889 1,414^91 873,520 156,717 587,625 61,657 4,963,044 279J375 932,726 512,243 16,5837557 38,400 681,804 1,084,398 1,166,049 i,899488 "l,168,889 161,821 4,637;926 '3^55li592 127,568 * Not under Federal control. 12 TABLE III— (Continued), COMPARISON OF 1918 EARNINGS WITH STANDARD RETURN. EASTERN DISTRICT. Road Standard return Net operating income 1918 Amount by which net operating income was Greater than standard return Less than standard return Newburg & South Shore New York Central New York, Chicago & St. Louis.... New York, New Haven & Hart New York, Ontario & Western New York, Philadelphia & Nor New York, Susque. & West Pennsylvania Company Pennsylvania Railroad Pere Marquette Philadelphia & Reading Pittsburgh & Lake Erie Pittsburgh & Shawmut Pittsburgh & West Virginia. Pittsburgh, Cin., Chi. & St. L *Pittsburgh, Shawmut & North.. Port Reading Rutland _ South Buffalo Staten Island Rapid Transit Toledo & Ohio Central Toledo, St. Louis & Western Ulster & Delaware _ Union R. R. Co. of Penn Wabash Western Maryland West Jersey & Seashore Wheeling & Lake Erie 75,831 55,802,631 2,218,857 16,867,128 2,103,589 996,051 800,587 14,992,785 51,361,262 3,748,196 15,868,331 8,980,219 482,817 237,010 11,384,094 195,660 235,698 1,028,883 141,160 356,824 1,086,651 994,294 128,009 1,370,290 5,857,772 3,079,593 952,682 1,586,037 Def Def Def Def Def 215,626 48,291,878 8,834,512 7,534,834 548,583 972,608 419,084 4,284,827 18,317,171 3,814,052 8,847,389 9,889,555 180,256 828,012 2,973,777 119,445 489,964 35,559 125,016 31,042 738,970 1,241,182 57,850 1,455,665 3,7?1,029 492,469 168,966 1,048,588 139,795 65,856 '859,336 254,266 "246|888 85,'375 7,510,753. '9,3327794 1,555,006 23,448 881,553 10,707,958 33,044,091 "7',020,'94'2 '352,561 565,022 8,860,317 315,105 '988,324 16,144 825,782 847,681 i'ssi'ssg '2,1367743 3,572,062 1,121,648 537,454 * Not under Federal control. TABLE III— (Continued). COMPARISON OF 1918 EARNINGS WITH STANDARD RETURN. SOUTHERN DISTRICT. Road. Standard return. Net operating income 1918. Amount by which net operating income was Alabama & Vicksburg Alabama Great Southern...! Atlanta & West Point Atlanta, Birmingham & Atlantic. Atlantic Coast Line Birmingham Southern Carolina, Clinchfield & Ohio Central of Georgia Charleston & Western Carolina.... Chesapeake & Ohio Cincinnati, N. O. & Tex. Pac Coal & Coke a Florida East Coast Ga. R. R. Lessee Organization Georgia Southern & Florida Gulf & Ship Island Gulf, Mobile & Northern Illinois Central Louisville & Nashville Louisville, Henderson & St. L Mobile & Ohio Nashville, Chattanooga & St. L New Orleans & Northeastern New Orleans Great Northern Norfolk & Western Norfolk Southern Richmond, Fred. & Potomac Seaboard Air Line Southern Southern Railway in Miss Tennessee Central Virginian Washington Southern Western Ry. of Alabama Yazoo & Mississippi Valley..., $322,854 1,703,180 252,995 358,058 10,180,915 138,815 1,585,159 3,450,903 466,921 13,226,983 3,541,040 282,323 2,842,842 858,622 511,457 597,456 558,338 16,282,874 17,310,495 343,916 2,578,203 3,182,089 1,007,931 575,952 20,534,163 1,166,991 1,137,374 6,497,025 18,595,980 Def 75,843 162,734 3,247,603 468,433 288,238 3,862,318 $323,995 2,038,471 647,348 Def 584,761 11,626,128 309,612 1,098,306 3,905,339 548,532 17,042,405 3,047,946 Def 101,522 1,601,838 - 2,246,569 347,861 363,665 191,160 12,907,466 19,367,632 640,222 247,368 4,119,127 975,440 409,221 18,256,481 289,942 3,016,827 3,636,725 29,291,870 Def 40,794 Def 4,745 1,848,259 1,721,555 614,106 4,499,956 Greater than standard return. $1,141 335,291 394,353 170,797 454,'436 81,611 3,815,422 1,387,947 2,057,137 296,306 937,638 1,879,453 'l0,'695;896 35,049 1,253,122 325,868 637,638 Less than standard return. $942,819 486,853 493,094 383,845 1,241,004 163,596 233,791 367,178 3,374,908 2,330,835 32^491 166,731 2,277,682 877,049 2,860736'6 167,479 1,399,344 a Returns for 1918 cover nine months to September 30; road merged with Balti- more & Ohio on October 1. TABLE III— (Continued). COMPARISON OF 1918 EARNINGS WITH STANDARD RETURN. WESTERN DISTRICT. Road. Standard return. Net ■ operating income 1918. Amount by which net operating income was Greater than standard return. Less than standard return. Arizona Eastern Atchison, Topeka & Santa Fe Beaumont, Sour Lake & Western... *Bingham & Garfield Chicago & Alton Chicago & Northwestern Chicago, Burlington & Quincy Chicago Great Western Chicago Junction Chicago, Milwaukee & St. Paul Chicago, Peoria & St. Louis Chicago, Rock Island & Gulf Chicago, Rock Island & Pacific Chicago, St. Paul, Minn. & Omaha. Colorado Southern ♦Colorado & Wyoming ♦Colorado Midland a ♦Cripple Creek & Colorado Springs... Denver & Rio Grande Denver & Salt Lake Duluth & Iron Range Duluth, Missabe & Northern Duluth, South Shore & Atlantic ♦Duluth, Winnepeg & Pacific El Paso & Southwestern Fort Smith & Western Fort Worth & Denver City I Fort Worth & Rio Grande | Galveston, Harrisburg & San Ant....| Galveston Wharf I Great Northern I Gulf, Colorado & Santa Fe I Houston & Texas Central I Houston East & West Texas | International & Great Northern ! Kan. City, Mexico & Orient ) I K. C, Mex. & Orient of Tex j | Kansas City Southern Kansas City Terminal Los Angeles & Salt Lake Louisiana & Arkansas Louisiafia Ry. & Navigation Co Louisiana Western _ Midland Valley Mineral Range - Minneapolis & St. Louis Minn., St. Paul & Sault Ste. Marie Minnesota & International Missouri & Nojth Arkansas $1,242,475 38,443,725 Def 33,489 1,234,493 3,178,315 23,201,016 33,360,683 2,953,450 916,804 27,154,551 127,540- 971,512 14,912,379 4,934,790 2,481,212 333,053 18,770 502,678 8,319,377 353,290 2,355,242 5,122,051 594,637 357,136 4,145,102 82,194 1,891,386 1,301 3i230,645 526,070 28,666,681 2,828,218 1,717,506 375,566 1,394,946 9,073 3,216,698 1,998,642 3,420,417 407,987 357,353 895,178 444,346 147,432 2,639,857 10,573,291 202,455 13,146 $1,472,292 41,558,303 244,762 1,677,169 1,776,749 12,441,437 25.016,100 ■ 21,457 133,513 3^643,192 Def 529,254 968,722 8,211,683 2,624,720 2,941,746 191,813 Def 276,630 269,012 5,434,321 Def 961,458 3,803,620 12,465,248 263,948 215,020 4,936,392 186,732 1,745,880 Def 61,592 5,347,757 227,315 1], 978,791 2,824,146 2,286,307 404,017 1,372,281 Def 334,318 Def 361,531 2,782,977 2,184,424 2,746,635 77,637 198,746 1,823,579 750,888 9,740 235,782 3,858,722 Def 57,885 Def 117,046 $229,817 3,114,578 278,251 442,676 460,534 1,448,378 7,343,197 791,290 104,538 2,117,112 568,801 28,451 185,782 928,401 306,542 $1,401,566 10,759,579 8,344,583 2,931,993 783,291 23,511,359 656,794 2,790 6,700,696 2,310,070 141^240 295,400 233,666 2,885,056 1,314,748 330,689 142,116 145,506 62,893 298;755 16,687,890 4,072 22,665 704,922 423,721 ''673,'782 330,350 158,607 137,692 2,404,075 6,714,569 260,340 130,192 * Not under Federal control. a Returns cover months to November 30; road dismantled. TABLE III— (Continued). COMPARISON OF 1918 EARNINGS WITH STANDARD RETURN. WESTERN DISTRICT— (Continued). Road. Standard return. Net operating income 1918. Amount by which net operating income was Greater than standard return. ' Less than standard return. Missouri, Kansas & Texas Missouri, Kansas & Texas of Tex. Missouri, Oklahoma & Gulf Missouri Pacific Morgan's L. & T. R. R. & S. S. Co.... ♦Nevada Northern New Orleans, Texas & Mexico Northern Pacific Northwestern Pacific Oregon Short Line Oregon- Wash. R. R. & Nav. Co Pan Handle & Santa Fe Peoria & Pekin Union St. Joseph & Grand Island St. Louis, Brownsville & Mexico St. Louis Merchants Bridge Term... St. Louis-San Francisco St. Louis, San Francisco & Texas... St. Louis Southwestern St. Louis Southwest. Ry. of Tex San Antonio & Aransas Pass Southern Pacific ) Southern Pacific S. S. Lines j *Spokane International Spokane, Portland & Seattle Terminal R. R. Ass'n of St. L Texarkana & Fort Smith Texas & New Orleans Texas & Pacific Toledo, Peoria & Western Trinity & Brazos Valley Union Pacific Utah Ry. a. 5,853,831 621,773 Def 83,603 14,206,814 1,188,526 882,698 218,773 30,057,760 1,235,101 10,196,750 4,519,352 1,330,664 306,514 373,811 983,890 412,428 13,690,213 Def 327,035 3,355,749 555,165 373,052 38,021,938 190,909 1,871,083 2,574,511 318,730 715,136 4,107,432 159,740 Def 238,905 23,700,009 Vicksburg, Shreveport & Pacific... Western Pacific Wichita Falls & Northwestern 337,948 1,900,350 145,245 5,213,798 Def 800,095 Def 470,167 11,764,562 2,357,330 1,106,659 445,112 28,209,373 1,498,908 10,703,193 4,488,494 Def 8,171 Def 105,315 Def 106,527 1,245,345 Def 106,556 11,199,410 Def 117,556 3,672,695 Def 343,124 Def 129,476 33,970,453 4,034,653 267,707 2,679,866 1,856,682 310,033 964,627 3,707,266 Def 10,955 Def 387,752 35,616,554 .589,157 322,495 2,575,300 Def 489,516 1,168,804 223,961 226,339 26'3,'867 506,443 261,455 209,479 316,946 76,798 808,783 640,033 1,421,868 386,564 2',442,252 1,848,887 30,858 1,338,835 411,829 480,338 5187984 2,490,803 898,289 502,528 16,832 717,829 8,697 249,491 400,166 170,695 148,847 11,916,545 15,453 674,950 634,761 * Not under Federal control. a Road operated as a lessor company prior to December 1, 1917. 16 Bm^LETINS OF THE BUREAU OF RAILWAY ECONOMICS Coaseeutiye Number. HiseeDaneous Series Number. 21. 7. 45. 14. 62. 16. 79. 18. 75. 19. 83. 21. 88. 92. 94. / 24. 100. 25. !(». 26. 105. * 2t: 107, 28. 114. 29. 120. 30. 128. 31. 136. MISCELLANEOUS PUBLICATIONS CContinued from Page 2 of Cover) The Cost of Transitortation on the Erie Canal and by Rail. Railways and Agriculture, 1900-1910. List of Publications Pertaining to Government Ownership, The Arguments for and Against Train-Crew Legislation. Statistics of Railways, 1903-1913, United States. ' Comparative Railway Statistics, United States and For- ' eign Countries, 1912. Summary of Railway Returns for the Fiscal Year Endtne June 30, 1915. Arguments for and Against Limitation of Length of Freight Trains. Railway Stockholders, June 30, 1915. Comparative Railw&y Statistics, United Staples and For- eign Countries, 1913. Statfetics of Railways, 1905-1915, United States. Summary ftf Railway Returns for the Fiscal Yealr Ending June 80, 1916. '■ R^way Traintnen's Earning^, 1916; Summary of Railway Returns, Yeat Eluding December 31, Statistics of Railways, 1906-1916, United States. Summary of Railway Returns, Year Ending December 31, 1917.' ■■ '''/-■ Railway Earnings in 1918. 22. 28. 32. The fo!b)wing issues are out of print and no copies are available: Conseeutiye Uiscellwaeous Consecutive Miscellaneous Nunber. Series Number. Number. Series Number 4. P% 28. 10. • ■'.■ 6; ^.^ ' 2. 31. 11. ^ 11. 3. 34. 12. 15. 4. 39. 13. 17. /■/"■., '5.. 53. 15. 18. 6. 66. 17. 23. , ' . 8. 81. 20.; 24. ; '■■ ■ 9,-,, r' - WS.SL iBuisfinMossouin IMOOBVTHB OMITED STilTES OOVBKNMEMT .serve:. 'fi fit cji r\u