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RAILWAY EARNINGS SECTION OF THE COMMERCIAL & FINANCIAL CHRONICLE Copyrighted in 1922 according to Act of Congress, by WILLIAM B.DANA COMPANY,in office of Librarian of Congress, Washington, D.C. • NEW YORK, MAY 13, 1922. VOL. 114. NO. 2968. HIS entire publication is devoted to a presentation of the reports of earnings and expenses of United States railroads for the latest month (March) and for the calendar year to date, including said month. The table embraces every steam operating railroad in the country which is obliged to make monthly reports to the Inter-State Commerce Commission at Washington. Returns are note required only from carriers whose railway operating revenues, or gross earnings, exceed $1,000,000 per annum. sworn returns on file at WashingSworn Returns. The figures are a transcript of the ton. They have the further advantage of uniformity of method and classification. Every company is obliged to make up its returns on the same basis and in the same way as every other company. T The "Chronicle" has always made a specialty of weekly and monthly Earnings reports of railroad earnings, and for nearly fifty years its weekly Our Specialty, and monthly summaries have been everywhere accepted as authoritative. The present publication is in continuation of this work. These Inter-State Commerce returns also make it possible for us Full Details, to present full details of both the revenues and expenses. Besides showing total gross earnings, we indicate separately the passenger and the freight revenues. In the case of the expenditures we report the outlays for both maintenance of way and maintenance of equipment as well as the traffic and transportation expenses. We also show the railway tax accruals and the net earnings after the deduction of such taxes and also the deduction of the comparatively trifling item of uncollectible railway revenues. In addition, we indicate the net earnings remaining after the deduction of certain rents, namely equipment rents and joint facility rent. We conclude by giving the miles operated on which the earnings are based. discard altogether, and Cents Discarded. The cents we have necessarily been obliged to if in any case the results should happen to vary a dollar, one way or the other, from exact proof, the reason for the variance will be found in that circumstance. complete, we add statements Company Returns To make this publication absolutely issued by the companies themfigures also the at the end to show Also Given selves, where they are made up on a basis different from that of the Commerce Commission returns, or where they give additional items of information, or where, as sometimes 'happens, figures are issued by the companies in consolidated form, so as to show results for the system as a whole, instead of each constituent road separately. publication is entirely Other Returns The matter contained in this extra and novelearnings we furnish in reports of comprehensive the additional to Continued the "Chronicle" from week to week. All the returns of the leading roads, and also all weekly figures of gross earnings, are printed regularly and promptly in the "Chronicle" as soon as received. But in addition we issue once a month—say about the 15th—this special publication, furnishing a sort of compendium of earnings in which we bring together all the returns for the latest month which are available. As in the case of our numerous other Supplements or "Sections," Only for all of which are expensive publications, the "Railway Earnings Subscribers, Section" will be furnished only to "Chronicle" subscribers. These will receive it free of charge, one copy going with each subscription. It will be impossible to obtain copies in any other way, as none will be printed for general sale. WILLIAM B. DANA COMPANY, PUBLISHERS NEW YORK 90 PINE STREET 136-138-140 FRONT STREBT MAY, 1922.] RAILWAY EARNINGS 3 GENERAL INDEX TO ROADS APPEARING IN THIS SECTION. Pats Page Name— Name— Page Name— 10 & St. Louis Chicago 7 York New tern El & Southwes Paso 4 own Youngst Akron Canton & 10 ng Connecti York New 7 & Joliet Eastern Elgin 4 Alabama & Vicksburg 10 Hartford & Haven New New York • Alabama Great Southern. See Southern..12 Erie 10 New York Ontario & Western 4 Florida East Coast Ann Arbor 11 Penn See Norfolk. & New York 14 Phila. lle & Gloversvi n _12 Johnstow Fonda Arizona Eastern. See Southern Pacific 10 7 New York Susquehanna & Western 4 Fort Smith & Western Atchison Topeka & Santa Fe 10 & Western Norfolk 6 Sou. & Col. See City. & Den. Fort 4 Worth Atlanta & West Point 10 Norfolk Southern F....11 -S. L. St. See Gr. & Rio Ft. Worth 4 Atlanta Birmingham & Atlantic 12 Northern Alabama. See Southern Atlantic & St. Law. See Grd. Trk. Sys. 7 Galv. IIarrisb. & San Ant. See Sou. Pac.12 10 Pacific Northern 7 n Wharf 4 Galvesto Atlantic City 10 Pacific tern Northwes 7 4 Georgia Atlantic Coast Line Oregon Short Line. See Union Pacific_ _13 Atlantic Steamship Lines. See So. Pac.12 Georgia & Florida Oregon-Wash. RR.& Nay. See Un.Pao_13 _12 _ Southern See & Fla. Southern Georgia 4 Baltimore & Ohio e & Santa Fe. See Atchison 4 Panhandl _10 Penn__ See Baltimore & Ohio Chicago Terminal_ _ _ _ 4 Grand Rapids & Indiana. ania Railroad and Co__10 and 14 Pennsylv System Trunk Grand AO 10 See Penn Atlantic. & Ches. e Baltimor 11 Peoria & Pekin Union 4 Grand Trunk Western Bangor & Aroostook 11 e Pere Marquett Great Northern Beaum. Sour Lake & Western. See New 11 n Perkiome Western & Bay Green 9 & Mexico Texas Orleans 11 Ry & Reading hia Philadelp Island Ship 14 Gulf & Bellefonte Central 10 4 Gulf Colo & Santa Fe. See Atchison 4 Pittsb & L E See N Y Central Belt Railway of Chicago Louis. See Penn_11 St. & Chic. Cin. Pitts. & Northern Mobile Gulf 4 Bessemer & Lake Erie 11 Pittsburgh Shawmut & Northern 5 Hocking Valley Bingham & Garfield 11 & Shawmut gh Pittsbur 12 Pao Sou See & Cent. Texas Houston 5 Boston & Maine 11 Virginia West gh & Pittsbur Pac_12 So. See Tex. & West East Houston 5 Brooklyn Eastern District Term 11 7 and 14 Port Reading 5 Illinois Central Buffalo & Susquehanna 11 City & Kansas Omaha Quincy 9 Central_ Y N See Belt. Indiana Harbor 5 Buffalo Rochester & Pittsburgh Richmond Fredericksburg & Potomac_ _11 14 International & Great Northern Canadian Pacific 11 Rutland 8 of Me Co onal Ry. Internati 5 Ohio & ld Carolina Clinchfie & Grand Isl. See Union Pac_13 Joseph St. _10 Cent_ Y. N. See & Mich. Kanawha 5 Central New England 11 and 14 8 St. Louis-San Francisco 5 Kansas City Mexico & Orient RR Central of Georgia L. Brownsv.& Mex.See N.O.T.&M_ 9 St. 8 of Tex.. Co. Ry. & Orient Mex Kan. City 5 Jersey New of RR. Central 8 and 14 St. Louis Merchants Bridge & Terminal. 5 Kansas City Southern Central Vermont See Terminal Association of St. Louis_13 8 5 Kansas City Terminal Charleston & West Carolina 8 St. Louis San Francisco & Texas. See 5 Kansas Oklahoma & Gulf Chesapeake & Ohio Lines 11 St. Louis-San Francisco 10 5 Lake Erie & West. See N Y Cent_ Chicago & Alton 14 and 11 tern Southwes Louis St. 8 g 5 Lake Superior & Ishpemin Chicago & Eastern Illinois 8 St.Louis S.W.Ry.of Tex:See St.L.&S.W.11 Lake Terminal Chicago & Erie. See Erie 11 St. Louis Transfer 8 River & Hudson 5 Lehigh Western Chicago & North 12 Pass & Aransas Antonio San 8 5 Lehigh &New England Chicago Burlington & Quincy 12 8 San Antonio Uvalde & Gulf Lehigh Valley Chicago Dot. & Can. Grand Trk. Jct. 12 Line Air Seaboard 10 ania Pennsylv See Long Island. See Grand Trunk System 12 Railway Southern 8 5 Los Angeles & Salt Lake Chicago Great Western 12 and 14 Pacific Southern 8 Arkansas & a & e lis Louisian Louisvill 5 Chicago Indianapo & Greenv_12 5 Louisiana Railway & Navigation Co__ 8 South. Ry. in Miss. See Col. Chicago Junction 12 International _12 Spokane Pae Southern See Western. a Paul Louisian ee & St. 5 Milwauk Chicago 12 Seattle & Portland Spokane 8 Nashville & e 5 Louisvill Chicago Peoria & St. Louis RR 12 8 Staten Island Rapid Transit 6 Louisville Henderson & St. Louis Chicago Rock Island & Gulf 18 e Central Tennesse 8 & Central Island Maine Pacific 6 Rock Chicago _13 Louis_ St. of Assn. Railroad Terminal 10 Penn.. See Virginia. & 6 Maryland Delaw. Chicago St. Paul Minn. & Omaha _ _ _10 Texarkana & Ft. Smith. See Kan. C.So_ 8 Chic. Terre Ha,.& South. See C.M.&St.P. 5 Michigan Cent. See N. Y. Central_ 8 Texas & New Orleans. See So. Pao.._...12 Valley & lis Midland Indianapo 6 Western Cincinnati 13 8 Texas & Pacific Louis Cincinnati Lebanon & North. See Penn_10 Minneapolis & St. Tol. & Ohio Cent. See N. Y. Central.. 10 9 M S & S. Paul St. lis & Texas Pae. See Minneapo Oro. South_12 New Cino. 11 9 Tol. Peoria & West. See Penn Cincinnati Northern. See N. Y. Central_ 9 Mississippi Central 13 & Western Louis St. 9 Toledo Clevel. Cinc. Chic. & St. L. See N. Y. C. 9 Missouri & North Arkansas 9 and 14 Trinity & Brazos Valley. See Colorado Coal & Coke. See Baltimore & Ohio_ _ _ 4 Missouri Kansas & Texas & Southern 9 Texas of Ry. & Tex. Kansas Southern Missouri 6 Colorado & 13 9 Ulster & Delaware Columbus & Greenville. See Mob.& O.. 9 Missouri Pacific 13 9 Union RR.(of Pennsylvania) Cumberland Valley & Martinsburg.. _ _ _ 6 Mobile & Ohio 13 and 14 10 Union Pacific 6 Monongahela See Pennsylvania Delaware & Hudson 13 Utah 9 6 Monongahela Connecting Delaware Lackawanna & Western 13 g Shreveport & Pacific Vicksbur 9 Grande Montour 6 Rio Denver & 18 Virginian 6 Morgan's Louis. & Texas RR.& SS. Co. Denver & Salt Lake 13 Wabash 12 See Southern Pacific 6 Detroit & Mackinac 9 West Jersey & Seashore. See Penn_ _ _ _11 6 Nashville Chattanooga & St. Louis Detroit & Toledo Shore Line 13 9 Western Maryland Nevada Northern Dot. Gr. Hay. & Mil. See Gr. Tr. Sys. 18 9 Western Pacific Shore & South h Newburg Ironton 6 & Toledo Detroit 18 Alabama of Railway Western 7 Erie.. See York New cg Jersey 6 Now Duluth & Iron Range 13 6 Now Orleans & North East. See South_12 Wheeling & Lake Erie Duluth Missabe & Northern 13 & Northwestern Falls Wichita 9 Northern Great Orleans New Atlantic & 6 Duluth South Shore Sou & Col. See Valley. Wichita 9 Mexico & Texas 6 New Orleans Duluth Winnipeg & Pacific 13 9 Yazoo & Mississippi Valley New York Central East St. Louis Connecting 4 RAILWAY EARNINGS [Vol.. 114. REVENUE RETURNS OF UNITED•STATES RAILROADS FOR MARCH AND FOR THE THREE MONTHS ENDING WITH MARCH. In the following we furnish detailed figures of earnings and expenses for March 1922, as compared with March 1921, and also for the three months ending with March in the two years, of every steam railroad in the United States which is obliged to file monthly returns of earnings and expenses with the Inter-State Commerce Commission at Washington. It should be understood, however, that the Inter-State Commerce Commiss ion now requires monthly reports only from roads whose gross railway operating revenues exceed $1,000,000 per annum. Prior to the taking over of the roads by the Government, or, to be strictly accurate, prior to the call for the March 1918 reports, monthly returns were required from all carriers having railway operating revenues in excess of $100,000 per annum. In the closing page of this publication-page 14-we also give the Company returns where these differ in any way from the Commerce Commission returns or embrace more facts than are containe d in the latter. Akron Canton & Youngstown EARNINGS. Freight revenue Passenger revenue.. Tot.. Inc!. other rev. Expenses-Maint.way Maint. of equipml. Traffic expenses.. _ Transportation exp_ Tot.exp..Incl.oth. Net from railroad Taxes Uncollectible revenue_ Net after taxes, Ac. Net after rents Aver. miles ofr'd oper. Alabama & Vicksburg EARNINGS. Freight revenue Passenger revenue.._ _ Tot.,Inc!. other rev. Expenses-Maint.way Maint. of equipm't_ Traffic expensesTransportation exp. Tot.exp.,incl.oth. Net from railroad.._ _ _ Taxes Uncollectible revenue.. Net after taxes. &c_ Net after rents Aver. miles of r'd oper. Ann Arbor Baltimore &Ohio -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 31Includes Coal & Coke 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. -Month of March- -Jan. 1 to Mar.31$ $ $ $ $ II $ $ 1922. 1921. 1921. 41 1922. 178,131 83,326 477,264 238,108 375,273 279,668 980.169 901,138 15,563,128 12.657,112 39.247,488 38.029,263 1,653 2,150 4,341 5,494 42,232 57,222 122,653 156,009 2,094,646 2.622,451 6,010,211 7,461,965 186,966 93,176 501,501 266.433 431,093 360,071 1,141,536 1,123.899 18.614,749 16,217,399 47,918.181 48,238.910 14,644 17,561 40,279 44,661 54,346 37,440 130,344 133,197 2,200.969 1.466,108 6,002.003 4.460,165 19,960 17,520 55,284 53,411 58,838 90,744 182,581 269.978 4,507,9381 3,353.701 10,255.261 11,473.565 5,572 5,216 16,488 14,152 9.752 7,901 28,584 25,826 306,560 280,596 894.918 819.596 46,885 39,955 131,197 121,959 192,979 194,779 541,181 583.909 6,805,581 7,488,771 19,311.572 23.692,891 95,667 • 87,910 268,726 253,920 328,345 345,169 921,306 1,057,553 14,453,578 13.280,154 38.299,452 42,474.120 91,299 5,266 232.775 12,513 102,748 14,90 220,230 66,346 4-,161-.17i Th.937.246 9.618.72d -5,764.79d 9,000 9,000 27,000 27,000 19,200 20,400 57,600 55,400 741.351 567,954 2,051,183 1,750,311 12 21 125 311 6,229 752 15,380 10,187 82,299 -3,734 205,775 --14,487 83,536 -5,519 162,505 10,915, 3,413,591 2,368,539 7,552,166 4.004,291 58,619 -16,499 149,84T. `-'54,623 = 66-.086 =7,334 98,773 =28,420 3,0 --0721/ 2.3M - 54 6,675; -441 3,285,884 170 170 170 170 293 293 293 293 5,235 5,184 5,235 5,184 Atlanta & West Point B & 0 Chicago Terminal -Month of March- -Jan. 1 to Mar.31- -Month of March-Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. $ 1921. $ 3 $ $ $ $ $ 188,717 198,359 522,227 623,469 88,324 112.221 259.518 304.736 55.367 58,338 162,242 182,114 62,690 81,609 194.373 259,100 261,446 277,603 731.113 859.401 179,477 225,349 521.047 641,410 288,179 220,909 678.786 42,655 614,682 76,981 118,358 193,123 25.191 30,476 73.474 88,686 38.590 25 814 76.086 40.284 75,005 61,422 146,649 224,076 41,719 55,950 128.217 151,867 39.061 46.242 98.130 122,680 8,473 9,086 26,492 25,519 7.525 6,759 23.239 22,771 2,510 1,222 5,859 92,145 4,836 135.051 287,309 389,354 68.089 94,036 215,020 270,827 148,385 149,222 412,572 426,937 197.310 297,737 619,568 875,528 156,088 203,423 480,446 581.979 243,115 246,420 635.528 691,150 64,136 --26131=11I7,-54-S --16,127 23,389 21,92d 40,60C =19.431 25,061 -25.511 it3a117- 6746A 22.342 15,436 60,562 38,805 9,291 15,517 27,753 46.550 51.398 38,355 128,108 100.693 107 43 141 46 59 834 307 4,578 41,687 -35,613 50,842 -54,978 14,098 6,409 12,789 12,881 -26.334 -64,700 -85,157 --181,739 6370g ...-37,005 ' 6,423 -1,182 -10, 351 10,822 144,234 46,788 296,943 122,806 141 141 141 141 93 93 93 93 91 90 91 90 Atchison Top_ & Santa Fe System Atlanta Birming ham & Atlantic Bangor & Aroostook Atchison Topeka & Santa Fe -Month of March- -Jan. 1 to Mar.31- -Month of March --Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1921. $ $ $ Freight revenue $ $ $ 9,843,707 10,317,859 25,952,433 28,750,581 280.976 107,348 725,143 581,112 Passenger revenue_ _ _ 3,242,967 3.881,520 9,854,853 12,597,174 803.364 623.066 1,990,773 1,830,905 32.180 14,037 95.702 140.140 82,104 102,089 232,510 265,439 Tot., incl. other rev.14,201,623 15.185,263 38,975,725 44,405,003 338,513 132.359. 886.352 807.543 912,539 746,148 2,289,188 2,163.383 'ay 57,877 33,709 167.740 225.426 iZat 108,016 rs120,238 ofIti _tr 317,145 394,268 89,268 81,659 , 262.267 284,044 Traffic expenses.._ _ 132,447 201,843 389,928 547.476 255.259 273.062 779,040 819,773 21.089 19,531 63.957 68,210 3,120 Transportation exp_ 4,681,266 5,946,315 13,630,918 18,161,131 3,815 10,910 11,937 168,156 108,859 471,323 585.293 231,257 249,456 646,937 795,895 Tot.exp.,Incl.oth. 10,957,355 12,015,661 31,169,723 39,445.568 352,488 257,050 1,013,922 1,215,079 493,338 602,967 1,421,225 1,832,708 , _ Net from _ 3,244,2a 3,189,602 `7-;80(2104 4,959,435 -7=13,975 --124t01 -427,570 -407,536 = Taxes 419.201 143.181' 867.963' 1,021.635 3307W 863.648 3,031.408 2,554,709 19,238 18,115 57.348 54,882 Uncollectible revenue.. 77,355 37.727 158,928 112,812 8,943 702 12.138 5,199 4,214 92 4.581 327 165 17 178 Net after taxes. &c.. 2,213,690 2,305,252 4,762,456 2,399,527 30 --37,427 -142.898 -189.499! -462.745 341,681 105,437 Net after rents 708,857. 217,835 2,600,34 2,283,T9-4 5,6 - -73.57f %,190,102 --54,812 -138,063 --231,399 --438,206 Aver. miles ofr'd oper. 339,054 91 .178' 715,681 8,855 233,501 8,828 8,858 8,828 639 639 639 639 625 659 625 659 Gulf Colorado & Santa Fe Atlantic City Belt Railway of Chicago -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 31-Month EARNINGS. of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 3 1921. $ 3 $ $ $ Freight revenue $ $ $ 1,294,209 1,916,975 3,659.494 5.554,131 $ $3 143.193 119,153 336.262 256,697 Passenger revenue.. 286.961 383,044 845,631 1.181,891 • 134,015 178,220 363,650 427,262 Tot.,incl. other rev. 1,717,985 2,372,028 4.831,077 7,000,925 285.346 301,353 722.086 705,202 554,172 Expenses-Maint.way 431.038 1,486,227 1,261,205 411.118 1,261.815 1,277,002 2,186,650 52,200 62.413 152,114 201.688 Maint. of equiptn't_ 45,754 47.161 98.467 451,360 376,859 1,453,652 1,640,716 103,796 51,143 52,357 53,328 144,553 Traffic expenses_64,333 53,135 172.107 39,239 169,300 38.589 119,441 126.446 4.721 2.759 12.324 8,292 2,282 Transportation exp_ 1,145 5,411 602,634 3,630 909,556 1.734,071 2,798,098 181.882 198,243 521,780 596,066 230.242 229,292 674,957 731,624 Tot.exp.,incl.oth. 1,569,924 2,666.984 4.799,891 6,949,657 294,259 317.518 751.004 955,183 354,130 340,670 981;255 1,039.754 Net from rallroad 148,061 -294,95d 31,186 51,268 -8,913 -16,1a -28,911 -149,981 = Taxes 200,042 90,368 504,972 221,45T 73.469 74,238 158,053 225.159 21,737 17,885 60,234 Uncollectible revenue_ 53,657 48,686 22,103 112,154 1.371 73,865 1.042 1.933 1.447 3,116 82 3,139 87 Net after taxes. &c.. 73,221 -370,236 -128,800 -175.338 -33.766 -34,132 -92,291 -303,725 151,356 68,265 392,818 ., Net after rents 147,686 62,433.--447 7-,302 -31o23T. -414,323 -55,6 ' -58,801 -132,630 Aver. miles of r'd oper. --7:272-,-581 144,074 129,977 429,195 396,20 1,907 1,907 1,907 1,907 176 177 176 177 32 31 32 31 Panhandle & Santa Fe Atlantic Coast Line Bessemer & Lake Erie -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31EARNINGS. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. $ 3 2 $ $ $ Freight revenue $ $ $ 47,021 $ 610,184 1,286,096 1,603.734 4.869,744 3 4,735.329 12,202.038 12,659.970 Passenger revenue 722,904 589,437 1,769,234 2.314,319 102,516 119,908 289.998 378.766 1.602,340 1.833.822 4,882,601 5,950,079 32,278 44,968 91,289 Tot.,incl. other rev. 134,637 629.522 758.882 1,688.148 2,077,046 7,081,047 7,094,131 18.402.372 19.926,504 Expenses-Maint.way 775,168 654,755 1,914,356 2,513,652 152,646 92,889 348.348 385,795 699,800 859,111 1.965.993 2.664,792 Maint of equiptn't_ 119,471 179,482 241.965 177.325 422.218 255,609 584,760 844,307 1,276,844 1,448.834 3,348.823 3,995,614 Traffic expenses.. _ 302,712 420.847 843,642 1,371.474 6,268 7,199 19,050 21,894 122,093 92.526 354,052 313.760 Transportation exp_ 12,833 13,357 40.543 208,603 274,610 46,117 609,273 798,340 2.329,117 2,971,110 6,659,245 8.843,120 261,456 • 323,097 745,668 1.130.529 Tot.exp.,incl.oth. 563,622 651,454 1,616,794 2,119,279 4,613.908 5,579.661 12.878,420 16,401,570 726,152 972,855 1,964,485, 3,075.268 Net from rallroad 71,354' -42,233 2-,467-.139 1.5147476 1752379Taxes 51 3-,5247934 49,016 -318.106 -50,129 -561,614 22.813 18.276 68,440 55,047 275,000 275,000 775.000 Uncollectible revenue.. 775,000 32,700 12,849 296 98,100 45,899 357 98 5.902 1,111 8,022 2.667 12 47 205 Net after taxes. &c_ 67 42,791 89,152 2,557 -97,378 2,186,237 1,238.359 4.470,930 2,747,267 18,304 -330,9 . -148,434 96 Net after rents -607,582 27.215=751,591 / -221;610 -27051,822 1,080740 4.44-0: 264 Aver. miles ofr'd oper. 67,995 --253,664 7 . 7 43,85 857 / 857 334441 857 857 4,923 4,888 4,923 4,189 225 225 225 22 EARNINGS. A 4.27N -65.900 ---f0742-g 1 , 83 8:31RiM6N0 11 5 RAILWAY EARNINGS , MAY, 1922.] Central New England Chicago & North Western Boston & Maine Central Railroad of New Jersey Chicago Burlington & Quincy Brooklyn Eastern District Term. Central Vermont Chicago Great Western Bingham & Garfield -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar. 31- -Month of March1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. EARNINGS. s ' 3 S $ $ $ i $ $ s $ S 22.768,372 21,611,892 8.308,155 8,124,300 2.024,141 1,774.895 759.146 726,454 60,150 29,879 20,963 10.728 Freight revenue 8.972.581 6.816,651 2.426.266' 3.016.236 83,958 57.245 20,629 31,516 2,416 3 544 1 Passenger revenue_ _ _ 822,025 1,922,047 2.196,242 11.698,484 12.353.734 31.570,365 34,800.027 778.805 67.646 30,663 23.559 11.163 Tot..incl. other rev. 280.127 1,071,035 1,313.307 3.156,207 3.795.524 231.572 95.342 87.279 44,989 57,535 18,900 21.131 Expenses-Maint.way 344,663 2.426.927 3,052,574 7.149,486 9,574.637 269.917 114,989 98.879 16,927 9.906 6.097 4.181 Maint. of eouipm't _ 510.886 458.632 147,508 177.199 12.504 13.312 4,915 4,258 5.900 3.856 2,009 1,309 Traffic expenses_ _ _ 887.823 5,280,794 6,054,687 15.480.053 18,238,541 651,505 240,681 336.496 35,138 13,153 11.672 5.384 Transportation exp.. 33,551:572 443.749 565,643 1,204.032 1,571.349 9,298.212 11.076.639 27,376,817 118,306 97,834 44,508 36,573 Tot.exp..incl.oth. 624.893 -2,400,272 1.277.095 -4.193,548 -1.248.458 718.01S 325,056 Th6.382 = Net from railroad_- -M25.410 =-20,949 •-67.171 -50,660 780.000 2,190.000 2,340.000 730,600 64.150 66.388 22.400 22,257 12,119 18,170 4,002 6,079 Taxes 4.156 12,464 406 955 1.567 47 41 17 334 17 Uncollectible revenue_ 495,528, _1,991,144-1,0 1,669,317 560,337 651,580 _ 95,701 233.648 312.758 _ -62.796 -85,341 Net after taxes, &c. -31,489 -24,968 •=443.839 -1.712.169-=1:261.33't ,553,676 ` 495,966'=318,624'-1=71-,705 `=30,500 =211,612 Th2,266 *=27,236 '' -227159 Net after rents 8,402 8,402 8,402 8,402 301 35 295 301 295 34 35 34 Aver. miles of r'd oper. • -Jan. 1 to May.31-MonthofMarch- --Jan.1toMar.31-- -Month of March- -Jan. 1 to Mar.31- -Month of March1921. 1922. 1921. 1922. 1921. 1921. 1922. 1921. 1922. 1922. 1921. 1922. EARNINGS. $ s 3 S s $ $ $ $ 28,697.568 28.901.794 4.473,346 3 933 026 11 690.389 11.218.786 3,978.907 3,335,159 10.269.648 9.627,061 10,833,940 10.178,693 Freight revenue 7,824.358 6,124,054 2,498.871 2,072.623 2.027.857 1.905.862 699,126 5,540.555 656,277 5.099.177 1.917.843 _ _ 1,739329 Passenger revenue_ 4,895.718 4.259.019 12.910.641 12,271.400 13.969.630 13.753.278 37.714,246 39.879.750 Tot.. Incl. other rev. 6.862.664 6.394,818 18.557.963 18.293,838 324.828 1,084.710 1,078,208 1,516.592 1.050,461 3.477.471 3.239.040 294,617 941.804 1.056.931 2.633.281 3.600,868 Expenses-Maint.way 535.891 3,784.005 2,787.734 2,928.539 2,787,814 8.386.129 8.437.089 Maint. of equipml_ 1,268.905 1.356.727 3,610.543 4,583.999 1,245.019 536,711 533.829 172.121 174.268 105.613 96,762 38.666 32.105 185.937 158.842 53,495 _ 55.154 Traffic expenses_ 14.551.823 17.508.675 Transportation exp. 3,137,786 3.748,123 9,179.704 11,263,497 1,787,684 2.004.714 5,109,127 5,849,351 4,993.200 5,508,477 31.384,483 28.271,588 10.075,797 10,040,496 10,225.269 , 10,436,471 3,022,528 3.483,829 Tot.exp..incl.oth. 5,657.038 6.511.126 16,330,033 20,544,615 -116,308 2227.930=2.250-.777 1.411,889 1,236,491 2,474.170 2,046.131 3.929,134 3,677.481 -9.442,658 -8.495.267 Net from railroad_ 789,588 2.753,764 2,390,444 826.341 917,945 778.952 278,085 263,327 758.064 251.702 474,741 148.159 Taxes 14.686 4.527 6,230 8 837 3.009 611 562 25 48 18 Uncollectible revenue_ 6.684,367 6,090.137 2.881,663 958,406 1.694,381 1,219.782 3.008.180 Net after taxes. ttc. 1.057,449 -368,035 1,753,141-3,009,403 1,147.951 941,181'1,601.265 1,365,212 2,896.358-2,532.054 M452.054 Th,338 24£1 840.151 -1311-.225 1.010.373-=3,638,985 1,093,253 Net after rents 9.391 9.393 9.393 685 9.393 688 685 688 2.300 2.300 2.287 2.287 Aver. miles of r'd oper. Month of March- -Jan. 1 to Mar. 31- ---ManthofMarch--- --Jan. 1 to Mar. 31-Month of March- -Jan. 1 to Mar. 31-1921. 1922. 1921. 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1921. 1922. EARNINGS. S s $ s IS $ $ i $ 4,200.238 3,959.685 1,040.874 1.482,687 1,493.066 1.114.500 395,286 142.267 427.037 314,420 160,966 387,777 revenue Freight 427.920 1.011.799 1.300.357 351,093 323,493 271,833 108,922 92,436 Passenger revenue... 549.607 1.522.050 1.473.885 1,997.294 2,060,526 5.373.131 5,909.466 148.530 338.031 570,504 411.672 169.594 Tot.. Incl. other rev. 535.600 455.413 169.981 193.397 161,163 163.696 62.019 13,092 64,724 23,187 16.041 5.449 Expenses--Maint.waY 543.356 1,407.575 1.546.242 410.328 466.115 320.093 128.784 28.116 120.119 64,613 61,623 26.279 Maint. of(minium t_ 204.847 194,843 64.584 34,886 66.477 35.367 25 13.248 11,039 463 821 25 Traffic expenses 934,842 2,517,273 2,764,432 851,195 850.510 1,095,655 51,584 359.591 300.527 136.306 155,204 58,834 Transportation exp. 587.768 1,451.245 1,798,522 L612,811 1,790.281 `4,778.383.-5,294,792 102,126 522.942 Tot.exp..incl.oth. 248.321 246,321 96.3-2-2 614.6744 270,245 -594.748 = 70.805 -324.637 -384.483 _ ='46404 ' 163.35f .=-91,710 47,562 -38.161 73,27' Net from railroad 236.157 252.877 62,700 71.202 79.168 50,850 20.900 6,923 19.047 16,950 20.056 6.349 Taxes 766 726 38' 45 122 149 10 65 Uncollectible revenue. 377.751 341.145 198,998 -387.375 305,166 19,833 -59,071 39,481 144,304 30.547 71,654 66.923 Net after taxes. dm_ 91.213 -12.39e 65,919 -66,629' =388,962 -169.597 = -9,562 667923 ==34a .fln"144:304' =7T,754 Net after rents 1,496 1,496 413 1,496 1,496 407 413 9 407 9 9 9 Aver. miles of rd oper. -146.982 Buffalo & Susquehanna RR. Corp Charleston & Western Carolina Chicago Indianapolis & Louisville Mar.31- 31- -Month of March- -Jan. 1 to -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 1922. 1921. 1921. 1922. 1922. 1922. 1921. 1921. 1922. 1921. EARNINGS. 1922. s s 3 s $ $ s s 11 $ 876.199 2.756.334 658,202 1,036.833 693.830 280,267 171,436 29%.837 505,554 588.453 161,676 Freight revenue 691,762 273,081 135.027 247,822 108.156 40.101 20.198 35.196 24,874 8.921 7.418 Passenger revenue... 848.464 1,397.685 1,266.498 3.748.235 839.141 334.117 538.402 183.624 351.227 621,586 174.2C7 Tot.. Incl. other rev. 363.161 131.055 128,970 197 508 124.230 70.450 45.444 88.649 35.744 110.063 30.368 Expenses-Maint.way 796.162 339.208 227.681 283.653 123.724 94,238 33.820 108.785 157.191 335.460 Malnt. of equipm't 45,863 100.146 31.990 21,614 32.039 20.597 7.348 3.782 7.771 6.855 10.277 expenses... 2.097 Traffic 1.434.084 553.434 451.926 512,616 352,145 161,025 126.752 176,746 69.052 229.986 Transportation, xp _ 58,045 2,838.523 1,108,269 919.763 1.008.541 639.326 340,112 456,200 222,329 227.853 717,462 .oth Tot.exp..Incl 145,009 909.712' 158.224 389.171-----5.995 .--199.815' -71,299 82,202' -05.576 =128,898 -44.229 Net from railroad_ =-29.108 -=. 179.461 66,707 30.000 74,324 33.000 10,000 11.000 9,750 2.300 12.750 Taxes 3.250 401 14 139 196 118 87 44 Uncollectible revenue 729,850 91.508 314.651 166.697 -101,438 72,452 -108,326 __117.854 -16.082 Net after taxes. Ste 25.858 -46,259 425.127 2.204 = 204,486 149,407' '-110,586 107.758 -18.064 141,80-1 51 ' 41,719 -179 Net after rents 657 654 342 657 342 342 342 253 253 253 Aver. miles of r'd oper. 253 Buffalo Rochester & Pittsburgh Chesapeake & Ohio Lines 1921. s 2.496,866 780.431 3.586,941 346.098 996.342 96.821 1.617.597 3,210.759 376.181 159,125 134 216.923 •-•=-30;45.1 654 Chicago Junction 31- -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar. 31--Month of March- -Jan. 1 to Mar. 1921. 1922. 1921. 1922. 1921. 1922. 1921. EARNINGS. 1922. 1922. 1921. 1921. 1922.• $ S s $ $ s $ $ $ i $ $ 14.895,803 17,675.059 5,042.064 6,729,769 .988,925 Freight revenue 3.693.922 3.074.049 1.524.318 964.318 2.180,155 2.862.787 765,265 Passenger revenue 167.717 490,499 305,876 131.157 439.512 1,307.960 1,235.717 481.166 Tot.. Incl. other rev 1.704 765 1,199.352 4.219,904 3,680,509 7,832,296 6.367.344 20.702.483 18.764.531 177.671 140.008 57.937 64.344 Expenses-MaInt.Way 927.447 2.129.865 2.661.815 804,183 407.761 121.697 347.947 120.722 142.814 122.990 45.424 5.325.840 45.186 5,244.970 1,458.399 Maint. of equipin't 2.086.626 1,141.192 415.481 1,347.767 591,830 599 160 2.022 200,032 651 217.534 66.767 81.438 Traffic expenses 58.096 21.534 48.331 18,730 631,349 622.383 204,236 218,104 Transportation. in_ 579,462 1.555.188 1.842,584 2,704.463 2,648,915 7,744.353 8,317,099 600.570 997,551 917,123 328,917 338.120 Tot.exp-inci.oth. 1.372,477 1,184,571 3,416,716 . 3,588,971 5,871,788 =5,294.285 15.876.477 17,078.976 2381.66 .-390.837 =110.595 " .-538 1.960.508 1,073,059 4.826,0Ce 1,685.555 =143.046 ` 9f. Net from railroad_ _ 803188 14.781 332.288 70.509 140.293 63.503 689.430 60.560 802.500 229.810 267.500 105,000 Taxes 105.001 35.000 35.001 3.414 3.983 3.181 revenue 486 1,071 Uncollecti hie 237 3,695 3.249 164,243 250,544 47,092 Am_ 992.142 82,486 4,020,325 taxes. 842.763, 1,691,937 -13.699 Net after 492 294 694 219 038 .== ' === . -20' .=..=--- ' i8057 492.43W •= i13,89g 578,659 163.895 643.56I' -4,204.413' 383.716 1,736.374 756,143 Net after rents 8.639 325.156 12 12 12 2,542 12 2.548 2,543 2,548 589 Aver. miles of r'd oper. 589 589 589 EARNINGS. Freight revenue Passenger revenue... Tot., incl. other rev. Expenses-Maint.way Maint. of equilon't. Traffic expenses- - Transportation PIP. Tot.exp..inci.oth Net from railroad.... Taxes Uncollectible revenue Net after taxes. &c Net after rents Aver. miles of r'd oper. Chicago 81 Alton Carolina Clinchfield Rz Ohio 31-Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 1921 1922. 1921. 1922. 1921. 1922 1922. 1921 S $ x $ $ S $ s 631.413 524,056 1.729.637 1.577.838 2.113.868 1,700.783 5.891.284 5.132.365 569.426 1.377.257 1.691.370 465.695 129,349 103,689 35.373 41,259 679.136 580.419 1,861.348 1,753.275 2.763.525 2,463.831 7.752.444 7.248.358 837.746 580.710 294.734 185.945 311.222 208,694 71.046 105.856 709.583 1.955.951 2.180.880 699,994 538.561 429.527 165.679 202,015 154.868 166.444 50,088 51,931 69.206 23.214 67.546 21.987 579,230 1,027,843 1,117,959 2,966.964 3.441.869 170.666 489,466 179,927 6.841.270 5.877.710 2,245.081 _2,040,526 449.349 533,009 1,245.311 1,554.808 407.088 229.746 47.419 =-616.03i .-- 198467 -722.999 - 218.75d %.874.7344 243.630 221.823 123.630 90,000 71,823 40.000 120.000 30.000 3,839 1,832 217 1,218 57 813 186 384 159,619 94,903, 1,651.079 1E9,689 649,958 107,654 495,851 17,026 --7283.174 412.422 =4509.570 "'"=39.182 -1,154.300 -272.648 -666.586 = 100358" ' 1,050 1,050 1,050 291 1,050 291 291 291 Central of Georgia EARNINGS. Freight revenue Passenger revenue_ _ Tot.. Incl. other rev was Ex_p_enseti-M tin,J Maint.. or eipiipm't Traffic expenses Transportation exp Tot.exp..inci.oth Net from railroadTaxes Uncollecti hie revenue_ Net after taxes. Am Net after rents Aver.miles of r'd oper Chicago & Eastern Illinois -Month of March-- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to 1922. 1922. 1921. 1922. 1921. 1921. 1922. s $ s s $ $ s 1,427.552 1.354.908 3,458.577 3,556.460 1,806.441 1.556,598 4,965.474 435.234 1.066.219 387.962 348.657 461,269 1,182,966 1,518.471 1.952.465 2.018.293 5,136.559 5.593.504 2,294,679 2,119.264 6.436.232 609.310 235.141 223.650 197.386 332.259 948,767 667.996 902.735 1.552.190 350.576 528.559 417.144 991.010 1.207.093 131.531 62.009 39.997 49,576 191.930 69.845 192.401 717,060 887,739 1,004.449 2,559.437 934.471 2,076,880 2,741.644 1.445.188 1.843:8T5 4,178.150 5,347.334 1,744,061 2,270.896 5,088,134 537.277 550.618 -151.632 "1,348.098 174.408 958.409 -246.170 255.000 92.692 85.000 85.000 84.946 256.604 256.996 1.836 145 248 430 1.034 862 2,715 1.091.262 464.584 -236,777 89,932 444.337 698,698 -11,296 .063.787 i =166.347 89.408 = 450,247 = 485,866 10.120 760.474' 945 1.130 945 1.913 1,913 1,913 1,913 Chicago Milwaukee & St Paul Incl. Chic Terre Saute & Southeastern -Month of March- -Jan. 1 to Mar.311921. 10,, i0•!1 10*,2 10.039.808 8.694.407 25.768,642 23.822,215 1.929.217 2.317.431 5.425.507 6.746.035 13.364,836 11.995.681 34.639.858 33.735.582 1,235.386 1.090.598 3.815.967 3.173.449 3,634.642 3.268.457 9.935.713 9.836.452 508.795 549.868 175.683 182.547 5.583.893 6,087.890 15.911.972 18.1.42.024 11,023.482 11,119.500 41.368.236 33.071.340 876.1814 3.271.621' 664,242 -2.341,354 727.402 2.396.112 2,166.204 798.704 4,412 14.807 1.959 4.776 860,703-1,506,374 146,820 1.537,874 73,234 -176181 -287,993=274 1,055.902 10,611 11.030 10.621 11.030 Chicago Peoria & St Louis Mar.31- -Month of February- -Jan. 1 to Feb. 281921. 1922. 1921. 1922. 1921. $ 4.943.142 1.361,988 6.792.880 749.932 2.707.046 111.756 3,201.735 7,033.035 -240.155 255.000 809 -495.964 -358,760 1,130 1&597 169.746 26.236 20.550 150.123 202.943 17.685 21.094 52.613 47.113 4.596 4.358 101.007 113.528 100 I !.5 196,147 6.498 --2:7177 7.119 9,500 3 -3.007 -17,121 41:-221 n-25.441 247 216 3%.836 4 I.481 3 Ii.120 38,921 89.414 9.081 231.087 31 ?.681, 263.757 56.288 334,063 46.847 124.784 10.028 231.066 435.484 --lo17411 14.281 19.000 42 16 -17,578 -115.744 -62.675 -00-f8 247 246 6 RAILWAY EARNINGS Chicago Rock Island & Gulf EARNINGS. Freight revenue Passenger revenue_ Tot..Ind. other rev. Expenses-Maint.way Maint. of equipm't_ Traffic expenses_ Transportation exp. Tot.exp..Inc.l.oth. Net from railroad_ Taxes Uncollectible revenue_ Net after taxes, &c.. Net after rents Aver. miles of rd oper. [VOL. 114. Colorado & Southern (Concluded) Detroit & Toledo Shore Line -Month of March- -Jan. 1 to Mar. 31Wichita Valley -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. $ $ $ 1922. $ 1921. 1921. 1922. $ $ $ $ 350,158 469,250 1,030,354 1,325,468 75,264 134,126 221.405 341.055 379,539 214,886 1,005,105 596,463 67,865 106,424 218,679 331,765 18.600 28.662 58.447 88,752 464,870 607.812 1,371,988 1,749.878 100,645 170,170 299,458 449.982 381.810 217.603 1,011.066 6sT8. 7 01 50,753 74,345 159,613 251,908 16.350 30.263 63,676 96.695 23,201 30,717 57,730 62,434 102.476 75.583 276,487 279,106 7.865 Cr2,499 30,712 24,671 20.738 45,266 61,319 101,161 13.430 12,438 40,235 38,929 30 Cr73 175 85 1,901 1,989 6.447 8,608 227,074 295,803 649,014 898.445 44,411 60,930 132,067 97,442 198,347 67,594 284.575 191.254 408,550 475,054 1,170,082 1,521,015 70,119 89,975 228,225 324,250 150,569 151,163 430,911 382.567 56,3-2 1 131T,M 201,901 228.863 30,52880:196 71-,233- -2-3.25,732 23C-241-6,44 )15 '225.3d 11,150 13,700 36.450 41,100 5,140 5,460 17,330 16,317 14,000 14.000 42,000 34,000 4 368 538 740 8 153 68 272 15 15 45,166 118,690 164,913 187,023 25,380 74,582 53,835 109.143 217,226 52,440 538,140 191,880 32.14d 94,80-2 114,566' 126.01215,31663,89g' 26141773,578 14-27746 13,57/327:40S 1607527 461 461 461 461 256 255 256 255 61 61 61 61 Chicago Rock Island & Pacific Cumberland Valley &Martinsburg Detroit Toledo & Ironton -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. $ $ $.: $ $ $ $ $ $ Freight revenue $ $ $ 7.094.841 8,005,151 19,134,682 21,543,704 82.175 90.000 268.823 322.300 745.494 *398,521 1,765,525 Passenger revenue 783.603 2.080,184 2,493,790 5,900,652 7,366,791 5.839 8,564 18,258 18.312 10,632 16,204 28.861 45,229 Tot..Incl. other rev. 9.807.090 11.261,760 26,908.041 31.097.327 90.148 101.388 293.706 350,089 766.750 423.837 1,822,772 Expenses--MaInt.way 1,019.849 1,296,138 3.493.503 4.115.724 862.434 8,078 13.323 20.968 34,090 59.288 78.839 176.799 Maint. of equipm't_ 2,192.998 2,364.768 6,040.394 6,826,497 254.678 21,334 27,188 54,413 80.667 154,389 81.556 341.747 Traffic expenses_ _ 237,217 175.101 159.270 519,914 512.008 745 819 2,322 2.138 6.917 6.590 18.408 20,542 Transportation exp. 4,111.501 4.734,595 12,139,360 14.382.278 33.147 40,867 93,968 137.631 257.085 170,196 669,568 456,162 Tot.exp..Inc.I.oth. 7.781,610 8,863.913 22,963,102 26.773,946 66,377 84,203 178,475 260,171 493,946 352,970 1,248,410 1,018,070 * Net from railroad_ _ 2-,025.4862,397,847 -3,944,936 7E323.381 2:1:711 =7,188 11-5:23f 27 89.918 ' = -2.-155.63d Taxes 530,144 358.679 1,570,752 1.286,507 5.310 4,606 12,802 11,104 14,900 9.771 43,328 29,310 Uncollectible revenue_ 1,017 1.695 3.126 3,916 2 60 291 Net after taxes, &c_ 1,494,319 2.037,473 2,371,061 3,032,958 18,461 12,579 102,427 78,814 257,904 61,036 521,034 . -185,237 Net after rents 1,288,78/ . 1,736-.71d 1,645,527 %-.979-.407 13715b f,i)9. 6 882 9 7 -Z 1T20 179,652 I62.770 334,356 -24873b1 Aver. miles of r'd over. 7,661 7,662 7,661 7,662 33 33 33 464 33 454 454 454 EARNINGS. -11:L8d 70.86 -564.361 Chicago St Paul Minn & Omaha Delaware & Hudson Duluth & Iron Range -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31- --Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1921. $ $ $ $ $ $$ $ $ $ $ Freight revenue 1.711,102 1,662,940 4.456,719 4,691,162 3.623,055 3.183,796 9,641.977 91.342 9.951,113 18t,536 222.469 529,677 Passenger revenue... 538.269 632,393 1,452,990 1,820,672 262.516 299,879 814.154 16,743 892,629 33,936 48,626 95,257 Tot..incl. other rev. 2,404,940 2.422,633 6.298,608 6,887.469 4,119,274 3,630,555 11,340.883 11.291.318 124.347 247.810 317.417 707.078 Expenses-Maint.way 262,883 238.408 788,428 630,253 618.853 449.124 1,363,193 1,342.078 45.048 83,093 13:3.498 215.536 Maint. of equipm't_ 463,854 594.558 1,212.949 1.785.428 1,053,720 1,142,048 2,816.029 3,488.343 91.003 158.105 259.920 395,338 Traffic expenses.-. 33.012 35.927 99,776 108.159 43.907 41.723 128.729 121.086 1.106 1,625 3.119 4.486 Transportation exp. 1,125,502 1,273.783 3,224.049 3,829,196 1,538,433 1,641,003 4.299,854 5.314.218 109.375 191,640 322,526 572,166 Tot.exp..incl.oth. 1,969,115 2.239,174 5,568.112 6,638.015 3,433.470 3,452,619 9,180,945 10.810.762 262,308 453.777 766,754 1,253,294 Net from railroad.... 435.826 r.1836 249,464 685-:864 177.936 2,159938480.556 =-137,961 .961 7 -54672-rd Taxes 133,215 137,775 387,067 400.256 85,697 80.676 240.571 7,808 307.476 14,913 20,556 48,077 UncollectIble revenue.. 2,208 387 2.862 5,112 7,125 4,718 7,137 222 4,715 4 222 67 Net after taxes, &c.. 300,402 45,297 340.567 -155,914 592,982 92,542 1,912,230 168,365 -145,991 --220,884 --470,115 -594.360 Net after rents 274192 17-,-58i" %--6-6.297 -- .=r-264,268 613228 116,380 1,997,54/ 253.282 =147,146 --7 -234.782 --4604/ -620,91$ Aver. miles of rd .per. 1.749 1,749 1.749 1,749 887 880 887 880 294 291 294 291 EARNINGS. Cincinnati Indianapolis & West Delaware Lackawanna & Western -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 3 S 3 $ Freight revenue 289,272 201.736 830,838 603,633 Passenger revenue 48,117 58,451 142,179 173,834 Tot.,Incl. other rev. 355.311 286.565 1.024,806 829.127 Expenses-Maint.way 51,016 44,496 120.331 118,321 • Maint. of equipm't. 84.758 93,182 227.497 258,267 Traffic expenses_ _ _ 10,974 9.756 33,714 38,089 Transportation exp. 157.632 160,607 479,001 463.122 Tot.exp..Incl.oth. 325,763 332.498 928,451 958.720 Net from railroad.... 26:544 --46:93j 9066 -1207603 Taxes 11,485 15,641 40,501 48,604 trncollectible revenue_ 17 Net after taxes. U.. 18,063 -61,574 55,854 -178,214 Net after rents --t3:086 1= .987 ==70-7,356' -185,881 Ayer. miles of rd oper. 321 321 321 321 EARNINGS. Colorado & Southern System Duluth Missabe & Northern -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. $ $ $ 5.37,445 5.348,819 14,250.968 15.067,908 978.777 1.102,923 3,021.063 3.309.878 7,084.536 7.127,084 19.351,076 20.230,945 551.547 708.367 1.615.790 1,935.835 1,436.976 2,006.927 4,151,656 5,323.826 107.984 106.624 326.146 315 636 2 831.469 3,283.796 8,099.080 9.822.957 5,145.432 6,341,809 14,823,692 18,110.411 T939710478g:276 4,527,384 -2:1.20.534 476.495 380,126 1,429,485 1,140,379 263 79 1,577 142 1,462,346 405,070 3,096,322 980,013 1,566,092 491,40d 3-,175,570 L152,055 994 994 994 994 -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. $ $ $ $ 128.359 96.480 218,190 388,463 39.753 61,190 112,865 174,258 153.125 222.471 377.810 647,651 89.844 187,658 237.200 487.953 136.382 224.018 374.474 650.536 3.572 3.236 9.208 8,626 161.332 207.966 449,624 590,264 414,171 646,867 1,137.546 1,807,340 =2617,64d 55,364 15,447 163.646 44,659 6 1 --316,410 -439,843 -923,388-1,204,349 --317,989 --442,42/ -926,246-T2117284 405 406 405 408 Denver & Rio Grande Duluth South Shore & Atlantic -124.37d Colorado & Southern -Month 122 of March-Jan. g -Month of March- -Jan. 1 to Mar. 31i. to Mr.?1;2 -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. $ $ $ $ $ $ $ $ Freight revenue 874.603 774.749 2,349.465 2,615,512 1,949,874 1,728.653 5,402,837 5,824.644 228,984 320.323 539,646 830.331 Passenger revenue_ 128,163 170.188 401.258 648.145 356,407 438,760 1.068,810 1,419.459 73.218 100,683 225,673 298,270 Tot Incl. other rev. 1.076.475 1.014,995 2,956.833 3,387,717 2,468.200 2,371,221 7,014.292 7,765,707 328.292 445.556 843,878 1,216.629 Expenses-Maiat.way 101.169 99.688 272.131 311.167 259,740 281,901 845.196 49,544 -22.966 846.447 140,983 103.185 Maint. of equipm't. 209.686 252,086 696,358 465.782 915.746 555.570 1,207.462 2.272.403 71.318 90.407 192,417 318,976 Traffic expenses... 12.311 10.839 44,315 43.348 34,145 41.978 131.827 125.965 6.893 6.534 20.941 22,185 Transportation exp. 407.233 386,498 1,158.947 1,240,502 865,617 865,858 2,506.507 2.872.593 209,676 247,033 561.107 726,291 Tet.exp-Incl.oth. 782,364 811,275 2,326,708 2,686,243 1,753,328 1,877,515 5,044.615 _6.513.949 354,611 340.910 965,676 1.234,478 Net from railroad__ _ _ -"`294--1 636,12g 70-1.174 -714,87249376-d 1-,969677' -L251.758 ' 7=2640" --10r640 --12L744 Taxes 70,183 80.668 198,548 155,000 237,936 150,000 465.000 434.000 33,000 52,687 87,000 102.687 Uncollectible revenue_ 37 246 416 534 80 335 554 236 579 408 236 408 Net after taxes. &c_ 223,891 123,298 431,161 559,792 463,004 343.371 1,504,123 817,179 -59,555 51,545 -209,034 -120,941 Net after rents 180.52i 369.65g659,84061-.1,99-' 429,-1-42 1,62- 8379' 1,616'.925' 172-69,16036,19d IT-221,701 =166.404 Aver. miles of oper. 1,099 1,069 1,099 1,099 2,593 2,593 2,593 591 2,587 591 691 591 Fort Worth & Denver City Denver & Salt Lake Duluth Winnipeg & Pacific -Month of March- -Jan. 1 to Mar. 31- -Month -Month Mar. 1 to of March31-Jan. 1 to Mar. 31EARNINGS. 1922. 1921. 1922. 1922. 1921. 12 --1 1922. 1922. 1921. 1921. 1922. 1921. $ $ I $ $ $ $ $ $ i $ Freight revenue 576.270 666.957 1,539.092 1,951,923 168,128 164.163 373.900 139.395 478.604 241,491 405.373 789,894 Passenger revenue__ _ 156,550 224,641 475,991 663,310 14,227 22,196 42,810 21.018 60,452 40.371 58.445 126,135 Tot.,incl. other rev. 776.526 937,730 2,128,364 2,743,235 192,525 197.835 441.975 165.902 567,445 288,171 482.329 937,318 Expenses-Maint.way 64.676 69,076 214,265 239.987 25,234 40.658 65.290 129.366 24.825 30,348 70.145 85.418 Malta. of equipm't_ 136.911 172,936 428,935 574.373 47,049 78,706 110.232 40.388 238.678 64.589 118.592 160.373 Traffic expenses_ _ _ 10.772 11,060 32,450 34,209 1.060 636 2,816 4.682 2,778 4,658 15.978 16.049 Transportation exp. 262,482 319,661 765.050 1,092,829 64,599 95.815 164.960 303.583 81,501 242,342 140,634 450.432 Tot.exp.,Incl.oth. 510,154 617,624 1,560,733 2,076,947 143,839 222,421 361.425 156,579 251,701 463.368 750,944 696,183 Net from railroad_ 266.371 Th0-,T66 567,631666-:288 48--;686 ' 86:556 -128:737 9.32d --3647(1.-18:96T Th6,371 Taxes 48,522 25.888 112,240 89,214 9,000 8,000 27,000 8,191 24,618 24,000 14,647 47.1)5 UncollectIble revenue_ 106 699 172 1.167 4 5 10 116 9 16 54 Net after taxes. &c_ 217,744 293,519 455,219 39,682 --32.591 575,907 63,540 -152,853 21,823 -5,073 1,123 139,215 Net after rents 216.451 ' 197 - -49-d 465:606 613-,247 42 ,800 =:26 , -07d "095 65,881 86 -144,103 13? NZ Aver. miles of rd oper. 454 454 454 454 255 255 178 255 178 255 178 178 Trinity & Brazos Valley Detroit & Mackinac East St Louis Connecting -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 31EARNINGS. 1922. 1921. 1922. 1922. 1921. 1922. 1921. 1921. 1921. 1922. 1922. 1921. $ $ $ $ $ $ $ $ Freight revenue 262.693 169,345 982,809 537,878 103,354 122,400 230.640 283.467 Passenger revenue... 20,762 18.097 65.694 29,938 55,255 35.053 82.348 97,838 Tot incl. other rev. 291.473 195.598 1,083.072 616,469 143,036 169,683 338.253 263.333 410,910 178,461 526.448 435.236 Expenses-Maint.way 58.333 53,619 239,436 158.917 19.379 58.369 17.159 12.406 65.463 22.313 65,804 37,498 Maint. of equIpmet.. 81,958 66.476 219,931 175,896 52,330 48,027 12,224 150,590 138.851 24,166 4,525 22,615 Traffic expenses... 3.220 2,938 9,585 9,685 1,827 2,390 6.546 293 8,284 928 334 1,008 Transportation exp.. 105,845 99,855 374,654 304,840 60,269 71,778 173.713 61,230 178,281 218,099 68,073 227,241 Tot.exp..ind.oth. 261.614 234.352 878,923 681,408 139,325 146.405 405,960 88,837 249,866 451,900 98,903 328,134 Net from railroad 29.859 204,142 -64,939 3,714I 23.27d Taxes 7,000 7,200 21,000 20,600 10,000 9,223 32,004 5,055 27,836 15.163 7,993 Uncollectible revenue_ 108 123 50 50 4 Net after taxes. &c_ 22,751 -45,954 183,026 -85,539 -6,289 14.005 --99,711 --68.876 169,441 261,419 76,850 99,105 Net after re its -14,10' --W.grt -39,72 -121-366 -11,92d 15,50d --105,4f1 -7-7 48r7117 Aver. miles sfr'd over. 368 368 368 368 385 374 385 3 374 1 1 EARNINGS. fi03770 ea -7=17-.34d ---r2-544d 747.10f ":4066 -ban -recaa 23-6:2-166-3710 7 RAILWAY EARNINGS • MAY, 1922.] 4Ir Great Northern Galveston Wharf n 31Elgin Joliet & Easter 31- -Month of March- -Jan. 1 to Mar. 1921.11 Mar. 31- -Month of March- -Jan. 1 to Mar. -Month of March- -Jan. 1 to 1922. 1921. 1922. EARNINGS. $ $ $ 6 1,917,286 1.490,342 4,792,65 /mightrevenue 11 12 8 ... revenue. r Passenge 7 5,204.425 Tot..incl other rev. 2,092,419 1,653,27 353,228 171.870 127,515 Expenses-Maint.way 975,939 608,871 345.269 Maint. of equipml. 36,888 12,784 10.526 ...expenses Traffic 0 1,506,71 629,588 550,997 Transportation exp. 5 2,972,26 466,417 1 4 1,068,00 Tot.exp..incl.oth. 186,860 2,232,160 1,024.415 Net from railroad 247.719 101,035 82,573 Taxes Cr8 Uncollectible revenue. 85.833 1,984,441 941,842 Net after taxes. Ac. 68 1;1372,551 =76,5 812,236 = Netafter rents 459 456 459 Aver. miles ofr'd oper. 1922. 1921. $ $ 5,786,442 21 165,890 6,412,597 70,345 529,948 4,933 1,613,674 912 41,669 37.540 2,195,538 135,884 4,508,034 30-;006 1,904.663 17,000 239,909 4 277 13,002 1,664,377 _ 12,691 1;195,097 13 456 1921. $ 1922. $ 1921. $ 194,062 46.193 8,125 707 39.636 118.417 75.645 17,000 371.828 184.009 13.713 2.437 94.485 362.365 9,463' 61.000 2.036 -43.573 -43,4ig 638,364 121,308 19,662 2.044 121,003 343,224 295:140 51.000 58,645 58,673 244,140 242,9g a 1922. 3 5,693,878 1,146,504 7.557.461 923,743 1,704,903 139,719 3,185.368 6 217 226 1,340.235 607.694 618 731.923 84720 8,265 1922. 1921. $ 4,817,155 14,011,012 13,146,688 1,428.973 3.145.062 4,022,701 7.069,733 19,157.306 19,213.455 981,268 2.323,808 2,734,087 1,710,916 4,355,018 5,137.577 421,676 378,297 141,203 3,535,204 9,221,024 10,369.086 64 19,486,9 13 6,701.356 17.130,9 3687377 2,026,338' -273- 506 794.554 1,675,662 2,620.499 5,740 4.144 1,521 346,527-2,899,748 -427.698 600-A837-2,910,229' -460T40-3' 8,168. 8,265 8.163 Green Bay & Western Georgi 31El Paso & Southwestern 31- -Month of March - -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 1921.6 1922. 1921. 1922. -Month of March- -Jan. 1 to Mar. 1921. 1922. 1921. 1922. 1921. ' s 1922. 1921. s 1922. 1 s EARNINGS. s s $ 3 $ 273,340 217,561 $ 9(3,240 114.966 $ 88(3.073 756.216 348,041 290,838 9 2,305,995 1,751,70 64,471 804,809 58.916 24,433 645.819 22,032 353,417 264.254 107.742 Freight revenue 91,422 688,638 486,619 191,237 148.774 365,801 351.312 131.771 147,814 Passenger revenue- _ 490,878 1,096,929 1,339,049 416,512 7 41.599 53:033 14.489 883.815 1,044,649 2,424.305 3,161.89 19.984 161.811 113,182 44,280 Tot..Incl. other rev. 46,405 736,970 458.016 87.573 229,335 53.340 32,335 186.973 21,248 372,049 Expenses-Maint.way 215,881 123,657 77,622 760,686 398.824 5.900 283.093 6.391 1.918 2,388 145,911 _ equipm't 61,417 of Maint. 59.581 18,253 19,484 92.347 83,538 146,491 30.233 135.100 49.093 27,379 49.234 _ 760.795 Traffic expenses... 571,506 256,348 190,598 998,413 652,905 333.409 247.058 293,015 256,174 101.046 Transportation exp. 95.483 3 464,472 1.017.601 1,418.52 352,906 935,310 1,7384635 .22/9,1134 655,378 727781 95,138 30,725 Tot.exp.,Incl.oth. 52.331 -79,474 63.606 68567 21,029 24,000 7.029 8,000 17,899 21,060 Net from railroad_ _ _ 5,950 7,020 12:311 213b:gli 117 97 Taxes 14 69 '315 . 51,757 revenue 71,138 tible 23,696 Uncollec 44.331 58,171 -97.400 20,442 56,517 85,350 397,231 20,896 132,449 44,006 55,795 23,510 Netafter taxes. Ac. 36,810 0 --76,52 K Miio-imag 66,689 . 48,667 3497753 252 -9.193 262 252 262 328 328 Net after rents 328 328 1,027 1.139 1,027 1.139 Aver. miles of r'd oper. & Ship Island 5 '411 3g3.11I Erie System Georgia & Florida Gulf Erie -Month of March- -Jan. 1 to Mar. 31-1921. .?1g 1t°Mr9 1922.ii. TZI--t tnth.°fM1921. 12. 1921. 1922. 1922. 1921. $ Month of March- -Jan. 1 to Mar.31$ $ $ EARNINGS. $ $ $ 1921. $ 1922. 1921. 525,379 1922. 528,264 194,378 190.789 258.981 260.907 26 116.069 107,526 50 19.884,7 4 19,346,1 6,691,51 6 138,191 7,450,84 106.313 42,685 33.706 56,506 Freight revenue 35.121 18.569 10,668 993.494 1,168.958 2.964,919 3.411,020 710,214 674.680 Passenger revenue_ 253.187 239,736 341.963 319.054 145.543 125.902 3 23.890.456 24.894,187 132,996 132,295 43.284 46,632 90.836 Tot..Incl. other rev. 9,055,128 8,409.17 52.907 8 26.133 18.288 1 2,518,29 846.267 2,071,79 140.800 712.245 112.509 48,871 33,727 Expenses-Maint.way 60,770 59.118 15.414 9 2 18.453 8,428,19 3 6.404,26 3,119,18 1 23.968 2,248,93 22.309 t. equipm' 7,151 8.376 22.018 Maint of 24.286 7.731 393.884 8.027 424.406 134,227 286.541 153.944 210.260 99.405 69,375 Traffic expenses.... 184.198 132.655 64.414 46.172 Transportation exp. 3.655.630 4,218,932 10.435,721 12.176,799 624,807 512,234 211,933 169,622 384,027 288,949 121,886 97,525 Tot.exp..incloth. 7,137,604 8,696,420 20,341,537 25,147,163 1-62,446 4 41,-25 70.114 30.105 -42.064 23,1157 '. 28,377 7 3,54010' =.252.966 58,747 53,604 17,052 11,835 23,241 Net from railroad__ _ _ 1.917.524 -286,24 18,645 7,782 6.200 851,403 753,663 251.929 43 118 292.876 1 44 Taxes 180 185 161 3,878 100 10,467 1,736 2,788 26,617 Uncollectible revenue. 108,724 24.201 68,235 5 -65,48 11,275 16,714 22.077 2 -539,91 60 1,621,8 Netafter taxes, &c... 45,464 91,701 26.941 52,273 4-:271 -11,81-6' =84,262 , 46,357 -166,100 71710 307 307 1,666,186 =270,12-4' 2,784,8 9-1. 08,247-3-1 307 307 Net after rents 405 405 405 406 1,989 1.989 1,989 1,989 Aver. miles ofr'd oper. ern North & Mobile Gulf rn Weste Grand Trunk Chicago & Erie -Month of March- -Jan. 1 to Mar.31Atlantic & St. Lawrence ER --Jdn. 1 to Mar. 311921. 1922. -Month of March 1921. 1922. 1922. -Month of March- -Jan. 1 to Mar.311921. 1921. $ $ 1922. $ GS. $ EARNIN 1921. 1922. 1921. 1922. 883.427 875.374 283,639 324.355 795.391 758.462 201.541 3 252.598 84.279 2,380,16 2,324,124 142,037 103.607 875.342 44.369 34.298 131,844 Freight revenue 101.211 46,471 201,027 33.507 139,716 67.417 47.795 Passenger revenue 344.308 1,017.301 1,071.436 373,336 979.008 903.916 265.875 3 2.686,250 303.666 214.940 158.409 69,819 984.347 1,013,291 2.677,26 50,987 Tot., incl. other rev. 156.078 75,063 82.906 21,982 323,162 272.008 105.156 222,794 169.905 78,682 78.777 61.387 Expenses-Maint.way 198,491 126.675 64.878 32.141 418,010 513.487 193.314 35.373 40,462 12.288 169.673 13.571 9.757 Maint. of equipm't. 9.682 3.117 3.024 60,746 58.158 20,349 519.491 357.108 163,176 22.615 124.892 Traffic expenses„.. 581,682 463.410 138.739 154.613 575,086 1.294,020 1,767,232 434.985 8 Transportation exp_ 1.043,51 774.595 340,265 265,939 992.732 717,265 305.801 226,399 939.129 2,163,838 2,790,392 743,030 Tot.exp..incl.oth. 242.706Th 4,043 107,397 186,-65f -13.724 2 = 523,425' =105.14 162 44,049 74 50.528 .... 14,686 railroad 241.317 17,249 Not from 57.613 50,700 19,204 16.900 131.250 156.218 11 43.750 10 6 1 55.000 Taxes 44 71 7 4 67 Uncollectible revenue_ 192,168 --16,142 90.147 --10,649 7 --71,33 135,907 0 --59,13 60,367 9 . 367,136 -236.39 30,408 186,250 Net after taxes. &c. 26,71g 161.596 76,900 -16,016 9 -456,093-1,276,334 -16,467 --131,099 --133,955 -318,17 463 -436 463 436 82,114 ‘T---380,998 Net after rents 166 166 166 166 269 269 269 269 Aver. miles of r'd open Hocking Valley Chicago Detroit & Canada Gr Trunk Jct. • New Jersey & New York 1 to Mar. 31- -Jan. 1 to Mar.31- -Month of March- -Jan. 1921. 1922. -Month of March- -Jan. 1 to Mar.31- -Month of March 1921. 1922. 1921. 1922. 1921. 1922. 1922. 1921. $ 1921. EARNINGS. $ 1922. $ $ : 9 2,078,670 2,844,73 8 730,555 1.092.01 476.968 544.268 154,799 215,171 447.900 65.936 18,752 336.122 247.114 113.597 17.378 Freight revenue 83,566 43.665 27.752 17,198 5,867 282,722 273.919 96.741 Passenger revenue_ _ _ 93.077 883.237 3,226.572 2,536,058 569.904 1,229.335 616.070 183,200 233.765 340,382 354.403 118.462 415.417 293,417 135,007 Tot.,incl. other rev. 125.896 97.335 40.172 32.577 11.816 9.480 38.634 40.423 12.924 641,905 1.408.144 Expenses-Maint.way 14,605 446,029 246.083 48.864 42.892 3,031 22,024 61,617 66.486 33.912 20,752 35,126 10,764 Maint of equipm't_ 18.880 10,240 8.292 10,988 4.059 3,575 5,602 4,094 3.085 347,961 1,108,028 1.130.120 1.472 Traffic expenses..._ 389.160 222.849 209.048 76.278 82.259 222,275 204,257 75,390 Transportation exp. 68.429 1 3,096.64 3 976,441 2,170,39 338,667 .=.77731843 307,328 99.521 121,462 335,865 315,185 114,9873 Tot.exp..incl.oth. 108.498 4 T.056.179 =.5-66:58g 455,492 -93,20' 37 231.=308.742 83.674 _ 112,303 _ = 4,517 39,218 256.667 271,807 85,091 90,602 Net from railroad_ "g 13,789 21,694 4,696 7.232 8,750 9,000 369 140 2,917 340 3,000 6 Taxes 14 16 14 12 6 10 Uncollectible revenue_ 1619 -817 784.232 5 -178,63 364,884 217,434 287.032 79,069 105,059 -4.239 &c.. 30,208 559 taxes. 14,398 Net after 429,317 -I63'62 '"6297 -590,94 ,10=155,348 21362,228 81,633 850 349 350 10,878 -20,56f -40,103 -82,548 348 Net after rents 62 62 62 62 47 47 47 47 Aver. miles of r'd oper. l s Centra ee Illinoi Milwauk & Haven Grand Detroit Florida East Coast 1 to Mar.31- -Jan. 1 to Mar.31- -Month of March- -Jan. 1921. 1922. -Month of March- -Jan. 1 to Mar. 31- -Month of March 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. EARNINGS. • 1922. 1921. $ 11 $ $ $ $ $ s 7 2.48%,278 363.247 $ s 729.432 9.585.794 8,555,829 27,318,176 26.24%.519 878.918 252.137 0 6.502.146 846,727 2.312.05 5,498,39 1 8 971.926 2.096.90 1,827,44 Freight revenue 134.589 112.733 40,742 42,049 579.630 1,638.783 1,794.297 577,335 Passenger revenue... 946.886 12,277,315 11,378,763 34.992.416 35.044.192 309,932 1,060,923 0 415.640 Tot.,incl. other rev. 1,749,473 1,641.078 4,402.158 4,831,29 119.358 1,520.859 1,613.834 4,131.638 4,326.85n5 96,984 31.623 34.253 656,328 647,723 Expenses-MaInt.way 236,766 212,891 133.022 2,702.527 2,155,029 7.408.534 7.132.6 134.445 8.746 67.389 671,370 600,067 481.700 573.233 239.405 208.080 169,272 Maint. of equipm't. 185.375 30,126 26.566 15.962 8,509 57.006 56.823 13,388 13.866 Traffic expenses 612,624 4.453.200 4,867.631 12.956.878 14,980.372 616.869 213,435 221,709 Transportation exp.. 464.254 563,544 1,270,776 1,652.128 28.054,9 87 8 26,074,2 4 9,080.63 9,201,44 - 55 960,786 927.649 286.835 350,674 Tot.exp.,Incl.oth. 605,882 • 3,190,131 949,542 1,108,343 6.989.237 7 =13,900 -3,075.871 2,298,125 8,91-8329 4' 133,2723.091 64.966 ---i 7T .... 0 7 T,796;2 railroad. ..64r,i 51 0 2.106.83 27733 Th-979 3,022.16 1 684,813 1,071,14 from 9,265 Net 21,211 3,088 7,070 142,970 185.542 1,943 89,710 4,303 47,933 1.210 524 201 Taxes 128 174 Cr144 79 3.160 298 30 Uncollectible revenue_ 457 4 880 666 891 5 102 612 1 206 ---_,2 004 111,935 -23,366. • ,..-2_ ,.1 ,.. .,-.- 2_ 19.835 --!_---- _•.-58.040 709,923 484,772 1,607,584 1,498,110 Net after taxes, &c_ 6 2,140.567 1,785,329 6.076,670 5,358.692 - ;751 -79.521 -171,67-.5,667 -24 .... 1 '1,362,272 7 .77 658,155 4,799 4,784 440,71i 1,462 4,799 4,784 194 Net after rents... 194 194 194 ' 764 764 764 764 Aver. miles ofI'd oper. Grand Trunk Western International & Great Northern Fort Smith & Western 31- -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1922. 1921. GS. S EARNIN S $ $ $ $ $ $ 9 ,058 3,452.73 2.244 7.387 $ 4 1.12 784.912 $ 0 2,287,30 9 2,697,63 523,663 1,014,087 366,568 ...... 11 4 revenue 261,335 07.533 7,557 802.024 550.435 240,328 178,197 Freight 561,667 419.076 192,149 138,725 82,408 20.776 57,057 27.413 Passenger revenue-2 75 .1Wrig3 1 3,135.55 1,499,44 2 1,097,53 9 770,279 3,306,517 3,036,37 482.069 1,213,095 127.636 344,480 165,827 685.017 466.163 237,958 152,005 Tot.. Incl. other rev. 398,593 251.027 147.100 83,713 106,300 25.642 73.492 25.362 570.208 1,021.005 Expenses-Maint.way 307.920 219.852 634.593 814.962 33.042 333,361 134,802 28.943 77,447 37,002 76.871 t77.568 24,740 equinof of 25,948 Maint. 112,187 83.609 57.380 26,355 16,156 4.807 5.589 14,584 875,080 1,486.465 2.726.055 Traffic expenses..... 480,138 613,597 1,637,670 1,785,146 526,135 211.007 48.081 137,904 65,637 Transportation mai_ 7 8 4,702.65 5 929,986 1,512.88 2,763,16 1191.339 915,294 2,964,092. . 499,907 1,030,029 115.146 326,865 143,784 Tot.exp.,incl.oth. . 372.384 -0 :4 .T 167,546 -13 -154,960 84272E4 3 701-145--183.666 5 = -1/783 12;041 490 17,815 95.141 97.363 33,660 32,500 153,252 Net from railroad-- i2, 188,788 51,084 62,929 16,600 5.800 5,500 17,400 2.007 5.548 634 1,028 469 Taxes 653 386 279 487 173 25 117 Unoollectible revenue. 49 --142,4 4 269.473 -47,73 134,018 1 -308,68 152,984 -196,486 119,858 5 • -34,82 6,370 98 6,665 Ac. taxes. r Netafte : 763f7a§ 87-5M -1 ---17063 333 -821,812 I5'g -4-072 -60,25 f -T, -46,27 7 ` riiTir 1.159 676 1,159 637 1,159 rents 1,169 Netafter 362 351 352 351 253 253 249 249 'Avemiles of r'd oper.r. 8 RAILWAY EARNINGS International Ry. Co. of Me. Lake [VoL. 114. Louisiana & Arkansas -Month of March- -Jan. 1 to Mar. 31- -Mont Superior & Ishpeming h of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 1922. 1921. to Mar.311922. 1921. 1922. 1921. 1922. 1922. 1921. 1921. $ 1922. $ 1921. $ $ $ Freight revenue $ $ $ 263,666 $ $ 285,415 $ 708.400 $ 825 C88 3.012 5.579 Pasienger revenue.._ _ 241.892 5,581 19.798 225,549 38,434 623,663 65,989 732,555 104,888 186,752 101 339 33,606 313 952 33,611 Tot.. Incl. other rev. 96,540 106.159 321.700 372,246 866.622 1,066,56 7 \ 3 402 6.977 Expenses-Maint.way 6.389 283.301 24.678 265,276 24.131 739,331 25,030 869.111 68.676 91,549 14,803 18.321 Maint. of equipm't_ 63,470 60,977 59.064 59,967 59.066 159.197 66,303 179.461 176,609 169.772 10.038 23.016 Traffic expenses.._ _ 25.812 49,145 69,947 73,895 4,352 144,242 3,356 199.462 12.855 10,646 195 228 Transportation exp_ 609 7,656 744 138,320 5.239 22,110 173,474 18,269 434,997 545.807 8,387 10,635 26,391 92,643 32.933 109,163 256,358 Tot.exp.,incl.oth. 341.098 230,210 272,041 704,232 829,809 36,135 55,199 124.459 218,938 174,802 256,240• ===605.602 Net from railroad._ 764,743 ------91.490 106,208= 162.396236,758 -32,733 -48.222 -118,070 =7150,124 Taxes 64.453 9,036 16,000 133,729 15,000 104,368 48,000 45.000 5.741 6.208 Uncollectible revenue.. 16,458 19,299 16,338 16,434 57,804 51,190 33 Net after taxes, &c_ 282 522 75,490 85.205 114,390 191,758 -38,474 -54.430 -134.528 -166.46 45,154 -7,431 2 Net after rents 75.643 52.656 62.28-0 71,81d 77;0247 148,682 =39,871-55.787 =133,768' -f64;578 Aver. miles of r'd oper. 39.841 -16,623 233 69,902 233 33,772 233 233 33 33 33 302 33 302 302 302 Kansas City Mexico & Orient RR Louisiana Railway & Nay Co -Month of March- -Jan. 1 to Mar. 31- -Month Lake Terminal of March -Jan. EARNINGS. -47t 1 to 2 h Mar. of ifch21. 311922. 1921. to Mr.11 1922. 92. 1921. 1922. 1921. 1922. 19 1921. $ 1922. $ $ S $ Freight revenue $ $ $ 93.343 $ 137.985 279,188 $ 354,117 Passenger revenue.. 270,661 265,626 10,046 14,580 671.120 28,043 799.395 38,030 29,881 35,583 Tot.,incl. other rev. 90,727 98,557 110,480 164,271 331,239 418,991 103,334 127,248 Expenses--Maint.way 272.704 318,761 403,997 21,440 333,88-2 . 807,905 30.777 72.869 974.998 93.529 11,908 27,992 Maint. of equipm't_ 20.499 53.895 63,079 31,443 85.296 160.258 36.186 85.337 261,935 141.289 11,213 29,703 Traffic expenses_ _ _ 25.341 36,830 86,858 47,238 4.940 107,249 5,516 12.348 155,789 15.698 Transportation exp_ 10.604 10.771 62.738 28.123 75.944 30,798 186.646 219.358 -41,12275,292 118,179 113,948 245.161 130,938 339,608 Tot.exp.,incl.oth. _ 462,063 127,626 161,437 377,147 509.268 71.424 133.181 168,679 227,389 395.467 288,521 Net from railroad__ 669,794 949,909 -17714d 2,834 -45,908 '. -90,277 31,910 -5.93S Taxes 104.025 91,372 8,530 45.36i8.230 138T11 8,040 24,960 24.120 6.336 6,119 Uncollectible revenue.. 19,009 16,000 18.266 16,000 15 48.000 48,000 18 30 770 54 Net after taxes, dm_ 824 189 -25,481 -5,206 -70,886 -114,427 25,574 -12,052 85,016 74,602 ==== --9.736 29,307 „89,287 -23,103 Net after rents 'T4'83 -1,317 --65.176 =-91;359 32,977 -11,833 Aver. miles of r'd oper. 110,865 45,000 -10,354 13,368 272 23,422- -85,189 272 272 272 13 13 13 343 13 343 343 343 Kans City Mex & Or Ry• of Texas Louisville & Nashville Month of March- -Jan. 1 to Mar. 31-Mont EARNINGS. h of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. 1922. 1921. $ 1922. $ S 1921. $ Freight revenue 126.273 155.422 313,878 414.677 Passenger revenue.. 8.387.596 7,405.510 21,898,781 20,835,006 10.343 25.335 29,959 56,889 1.633,08 5 1,880.81 5 5.007,99 Tot.. incl. other rev. 4 6,093.473 145,981 188,060 365,699 491,700 Expenses-Malnt.way 10,634.319 10.027.704 28,312,387 28,690.065 22.763 47.831 77,553 141.638 Maint. of equipm't_ 1,525.638 1,332.536 4,351,510 4,086.526 43.403 66.087 119.767 160,466 Traffic expenses.. 2,765.111 3,005,200 7,360,426 9,224.926 4.774 5.540 13,273 16,339 Transportation exp. 203.498 225.530 85,879 115,854 657.197 238,641 665.122 313,105 4.111,742 4.653,791 11.524.615 14.385.9 Tot.exp.,incl.oth. 34 162,960 237,945 467,901 ===652,995 8,874.30 9_,556,194 24,671,0 esions==. ••••=1 Net from railroad 87 29,285.1 .1 16 -1697d -49,885 -102,20i -161.295 _ Taxes 1,759.93 0 471:510 6.000 3,641.306' 3,150 ' - 595.051 17,987 18,450 Uncollectible revenue.. 303.173 304,301 134 909.509 911.543 173 25. 351 343 Net after taxes. &c.. -23,113 -56,035 -120,362. -179,77 1,760 3.056 0 1,456,40 6 ...._136,8 66 Net after rents 2,730,03 MIIMM•al=s 1-1,509, co. 650 -34,511 ..-74- 269 -158,888. -215,615 Aver. miles of r'd oper. 1,502 ,50 43700 465 2= 2, 8 381 465 7 67 1946 465 ;44i 465 5,038 5,043 5,038 5.043 Kansas City Southern System Lehigh & Hudson River Louisville Henderson & St Louis Kansas City Southern h of March-- -Jan. 1 to Mar.31- -Month of March EARNINGS. -Month of March- -Jan. 1 to Mar. 31- -Mont - -14i ?1 i. to Mar. 2311922 1921. 1922. 1922. 1922. 1921. 1921. 1921. 1922 1921. $ $ Freight revenue $ 1.218,175 1,311,824 3,428.227 4,088.846 S S s 259.687 268.227 Passenger revenue 662.323 183,803 756,246 155,859 180,633 188,032 471,507 456.464 479,232 583.033 3,517 4,418 11.770 52,577 12.773 57,657 Tot.,incl. other rev. 1.594,550 1,604.021 4,310,475 5,010,42 157.683 ;7P.592 1 272.785 282.513 Expenses-Maint.way 701.687 251,488 200,550 795,928 258.180 196,909 664.646 507,664 570.636 737.017 22,623 23,125 Maint. of equipml_ 72.977 44.365 300.639 82.658 46.745 • 131.327 292.213 833.051 828.439 143.627 44.960 48.743 Traffic expenses.. _ _ 141.569 36,956 33,339 161,661 38,974 43.277 122.543 107.352 115.176 116,146 1.467 2.485 Transportation exp. 4.480 6.604 593,546 6.876 7,597 602.777 1,600,506 1,943.102 18,486 20 621 97.115 120,750 260.793 85,540 376.283 94,107 Tot.exp ,inel.oth. 1,192,051 1.208.379 3,247.304 3,669.05 240.722 2 6,715 0 172.972 , 203.178 500,074 182.650 652.078 196,979 Res from railroad.._ _ _ --402.499 395,642 538,457 594.989 1,063,171- 1.341,371 99.813 79.33-. 5 Taxes 201.613 68.838.--61.211) 14-37881) 100,218 76.833 .300.655 126,186 230,500 142054 10,178 12.151 Uncollectible revenue.. 30,534 8.750 36,453 565 7,367 597 1,682 26.250 1,339 22,103 3 3 11 Net after taxes. &c_ 391,716 29 318,212 49 760,834 1,109,532 89.635= 67,181. 171,079 60,088 107,394 53.832 Net after rents =Th03;2199,910 8 312,818 119.906 767,193 1,01 571r1) 70.681 47,393 Aver.miles of r'd oper. 107,025 43,380 42 767 . 10 38,337 779 66.80i r-73,13g 767 779 96 96 96 199 96 199 199 199 Texarkana & !art Smith Lehigh & New England -Month of March- -Jan. 1 to Mar.31- -Mont Maine Centra l h of March -Jan. 1 to Mar.31-EARNINGS. 1922. Month of March- -Jan. 1 to Mar.311921. 1922. 1921. 1921. 1921. 1922. 1922. $ 1921. $ 1921. $ 1922. $ 1921. Freight revenue 105,456 $ 172.687 $ 398,165 498.079 $ 463.922 $ 349.569 Passenger revenue.. 1,189.892 1.368.810 1,390,483 3,640,92 13,912 945.141 18,183 40,969 5 4,178.104 56,122 2,197 2.422 6.465 355,112 6.743 436,440 Tot.,incl. other rev. 957,147 1,142,064 134,309 206,273 478.141 595.223 472.139 361.4r2 1,213.974 Expenses--Maint.way 17,227 987.846 1.854.309 1,958,086 4.927.755 5,658,138 19.921 45.687 49.089 45,175 36 860 Maint. of equipml_ 107.911 228.105 19,153 112.184 20,689 259.223 72.829 411,641 53.496 790,631 94.210 80.675 519.107 Traffic expenses.. 410.711 232.239 4,303 513.461 1,078,478 1,372,262 4,317 15.328 13.292 15.133 5.861 Transportation exp. 28.229 13.147 53,715 15,086 71.559 13.341 155.704 35.964 235,641 42.875 151,909 138.179 418.357 802.302 414,686 998,206 2.288,551 3,252.278 Tot.exp.,incLoth. 103.310 123,354 314.447, 373.840 326,834 _277.171 ,L124.758 823,138 _1,504.709.a_,835.637 4,250,286 A,_623,42q Net from railroad..__ _ = ` `82.916 163.694 -221,383 -145.3'15-84.231' -89.21e Taxes 349.600 16410,523 .708 122.4467,352 31.570 67722.058 ,-46471 12,030 34.712 15,453 Uncollectible revenue.. 42.936 99.052 46.359 42 ' 8 105,559 139 297.155 32 319.938 364 71 Net after taxes, &c_ 20,434 407 75,559 153 131,985 199,293 133,275 68.778 46.280 250,184 118,349 16,819. Net after rents 379,907 -285,379 3.70§ 85,087' 96,948 -152,343 --75.361 98,70X Aver. miles of r'd oper. 225.398 176,435 81 -22,938 93 324470T6 81 93 -428.912 237 237 237 1,215 237 1,215 1,215 1,215 Kansas City Terminal Lehigh Valley Midlan -Month of March- -Jan. 1 to Mar. 31- -Month of March d Valley --Jan. 1 to Mar.31-WARNINGS. Month 1922. of March 1921. -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1922. 1922. 1921. 1921. $ $ 1922. 1921. Freight revenue $ $ 3 5.893.882 4.996.815 14,801.315 14,I61.9 $ Passenger revenue 298,874 39 308.540 801,677 455,597 871,437 609.209 1.422.33 4 1,768,1'6 7 66.301 83,468 "Tot.,1nC.I. other 185,858 261,129 389.864 6,732.239 6,069,085 17.260.538 17,622,8 Expenses-Maint.way 379,410 75 411.570 1,022,891 1,184,941 570.226 544,140 1.566,045 1.740.47 Maint. of equipm't_ 47.597 3 109.787 131,575 1.830.059 2,707.182 4,616.508 7,174.27 300.012 Traffic expenses...._ 45.127 2 67.401 140.291 105.628 217.915 113.931 311.579 Transportation exp.. 319.457 4,496 5.880. 13,625 2,580,222 2,825.293 7.412.831 8,775.99 15.799 119,017 6 135.305 Tot.exp.,incl.oth. 340,734 Cr7 423,749 Cr17 Cr42 _5,251,558 _13,384.330 14,360,5. 84,0544,771 231,058 340,508 Net from railroad..._ _ 665,202 1,035.588 42 1,480,681 -315.245 2.899.954 -891,89 Taxes 148.352 28,737 6 26,715 71.0d. 84,328 357.684179,735 226.850 149.353" 208.044 691.357 Uncollectible revenue_ 638.044 11.740 88,162 35.220 139 24.483 1,540 Cr 18.027 2,106 443 3 Net after taxes. &c_ -28,737 -26,708 -84,311 -79,693 560 46 1,253,692 -824.829 2.226.624=1,530, 136,109 046 62,897 Net after rents 321,909 201,771 154,652. 93124,824 ,310 552,734 1,220,46 2 =485,565 2,104.441-1,409.049 Aver. miles of r'd oper. 136,235 27 ' 63.054 27 308,212' 27 27 1,334 110,04d 1.448 1,334 1,448 383 388 383 388 Kansas Oklahoma & Gulf Los Angeles & Salt Lake Minnea Formerly Missouri Oklahoma & Gulf -Mont polis & St Louis h of March -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to EARNINGS. -Month of March- -Jan. 1 to Mar. 311922. Mar.311921. 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1922. 1921. 1921. Freight revenue 231.127 145,776 S 590.067 S 591.511 S 1.062,86 8 $ 1,131.71 7 2,953.67 7 3,027,122 1,230.254 1,062.228 3.397.194 Passenger revenue 12,010 17.186 35,705 60,621 3,173.300 372,696 512.303 1,069.192 1,539.789 174,863 219,259 Tot.. Incl. other rev. 484.316 249.549 184.377 649.413 647.385 691.883 1,573.58 8 1.768.51 4 4,414.306 4.963.822 1,469.043 1,337.778 Expenses-Maint.way 40,646 43,646 120.620 4,054.537 3.993.424 163,331 311.808 338.089 823.940 1,031,237 Malta. of equipm't_ 176.066 19,700 45.818 160.225 69,077 503.277 149.474 380.034 442.558 312.812 1,054.829 1,059.928 Traffic expenses_ 300.250 5,078 4.340 388.751 15,028 769.866 1.100.869 13,274 46.476 50.502 130.559 Transportation exp_ 165.409 23.178 84,202 88,865 26.443 241,741 71.091 301.506 73,236 536,034 593,602 1,612,412 1,828,366 682,151 699,078 1,895.502 2.178.896 Tot.exp.'.1ne.l.oth. 159,616 194.196 476,326 661,246 1,353,639 1,402.34 3.863,884 4,334 986 1,220,875 1,321,305 3,359.520 3.934,30 Net from railroad..__ _ 89.93i -9.819 171.65V ---311:637 -219.949-3-470116 n17772 9 7 1 628.61-248,168 Taxes 9,186 8,525 16.47g 27.559 695,017 25,525 110,616 59.11g 91.600 328.560 Uncollectible revenue.. 285.424 59.754 15 7 65.504 24 184.331 24 58 213,209 73 77 , 947 299 188 Net after taxes, &c_ _ 1,037 80,732 --18,351 143,476 411 5.088 199,295 274,495 221,785 343.113 187,467 -49,309 Net after rents 509,649 -154,505 7-47422.412 4-5 117,852 --41,6I8 65,271 0723 24 84, , 83 221,652 Aver. miles of r'd oper. 1100 314 317 6 -7;g1 314 . " -30..W 325 1,146 -205,3 1.168 a 1.154 1,649 1.168, 1,050 M.,._1,649 1,650 EARNINGS. RAILWAY EARNINGS MAY, 1922.] Paul & Sault Ste Maxie Mobile & Ohio System 9 Orleans Texas & Mexico System Minn St New Orleans Texas & Mexico Mobile & Ohio -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.311921. 1922. 1921. 1922. EARNINGS. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1922. $ $ 633,818 217,119 583,789 4,077,985 180.938 2,40%.393 2,44,564 6.055.746 7,039,582 1,257,055 1.362,215 3,481,632 Freight revenue 122.535 79.370 25,443 35.889 496.901 397,871 158,982 133,636 1,965,255 685,016 1,522,314 532.431 Passenger revenue_4,802,367 250.114 229.212 684,600 780,341 4,083.080 1,601,269 1.465,125 9,590,872 8.326,944 3,322,569 Tot.. incl. other rev. 3.23,696 684,049 37,994 45,897 100,677 128,557 512,191 195,817 232,048 510,378 1.144,733 1,518,794 366.963 Expenses-Maint.way 170,494 56.173 141,122 60,330 827,568 1,418.775 281,529 464,417 767,660 1,919,866 2,873,074 585.478 Maint. of equipm't_ 9,337 21.485 152.278 6,878 21,016 122,349 158,589 40,205 62,0:32 167,479 57.103 58,248 Traffic expenses_ _ 162.599 214,533 53,387 64,780 674.960 1,646.495 2.139,339 572.325 Transportation exp. 1,608,146 1M0,256 4,530.664 5.514.008 187,441 164,612 448,853 569,552 4,560,514 3,261,720 1,141,568 1.400.209 Tot.exp..incl.oth. 2,719,797.3,336,877 8,083.630 10,452,02 85,442 41,7, 1 235,747 210,716 241.853 323.551 -gr) 2173 113.060 21312,155 517,899 -14.:3 Net from railroad_ 17,128 49,125 16,775 50,122 181,275 54,000 60,425 183,596 953,156 741.254 292.627 254.767 Taxes 9 31 415 1-0 10 4,542 3.008 365 1,375 Uncollectible revenue. 68,667 186,622 Th0t65i 24,643 60,547 269,387 52,625 637,349 -500,948-1,819.853 -307,300 261,757 Netafter taxes, &c_ 69,892 34.745 4 2-05,696 14&6--78,767 227,320 257225 505.850 242.85/ --369,825 -553.107-1,982,666 Net after rents 191 191 191 191 1,165 1,165 1.165 1,165 4,242 4,383 4,242 4,383 Aver. miles of r'd oper i Sour & Lake Columbus Beaumont & Greenville Western Mississippi Central Formerly Southern Ry. in Mississippi -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 1921. 1922. • 1921. 1922. EARNINGS. $ $ $ $ 1921. 1922. 1921. 1922. $ $ $ $ 123.120 168.736 442.109 555,892 87,495 335,327 106,317 234,055 193,590 65,884 302,922 115,192 Freight revenue 22.832 30.310 65,800 103,658 26.235 98.981 29.854 84,373 57,972 14,958 17.753 47,544 Passenger revenue160,623 536.218 202,465 680,970 120,182 146,406 462,266 337,033 261,772 81,649 363,438 134,584 Tot.. Incl. other rev. 30,202 47,169 112.144 130,388 40.698 128,177 78,541 42,849 .28,491 11.472 48,038 16,213 Expenses-Matnt.way 31,432 75.822 56.352 85,474 13,967 29,449 39,207 75,314 89,864 32.050 95,167 29.124 Maint. of equipm't_ 14,191 5,157 5.095 16,009 4.588 4,271 10.953 11,328 8,336 5.208 2,750 16,931 Traffic expenses_167,548 57,225 203,828 59.030 49,529 90,164 145,731 259.611 99.904 30,299 126.028 42,545 Transportation exp. 148,248 389,485 137.537 460,418 1:'1.257 105,941 493,497 301.017 261.426 85 300 30 '.1 '6 100.159 Tot.exp.Jincloth. 12,375 146,733 64,928 220751 14.241 -24,851 36,016 -31,231 -1,0;i4 56,262 7.77M 34,425 Net from railroad...3,157 10,740 9,164 3,880 5,461 13,250 11,110 39.750 18,322 6.107 18,769 6.255 Taxes 26 26 71 282 10 23 6 4 Uncollectible revenue. 211.362 135,993 61,048 9,192 8,709 24,624 -38,101 -70.981 -3,762 37,4 0 -19,986 28,164 Netafter taxes. itc. 173,734 49,262 100,561 -1.351 1,360 -68,231 -16Aa -149,438 3 ,5. 7' .----Cf1:51 Net after rents 118 118 118 118 226 278 278 226 164 258 104 262 Aver. miles of r'd oper. St Louis Brownsville at Mexico Montour Missouri & North Arkansas of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31-Jan. 1 to Dec. 31- -Month of January- -Month 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1921. 1021. 1921. 1920. 1922. EARNINGS. $ $ $ $ $ $ i $ /I $ $ 384,192 391,492 1,044,028 1,079,666 121,422 98,448 285,359 30%,813 80.512 -515 1.321.372 411.730 revenue Freight 93,322 745 142.791 282.018 449.654 1,338 3,748 2,319 43.911 191,277 619,827 -14 Passenger revenue 519,416 577,908 1,424.599 1,636,054 122.900 102.060 319,891 290,334 135.358 -521 661.973 2.136.369 Tot.,Incl. other rev. 67,881 96.811 25.0 0 232,645 324,230 21,107 64.281 55,382 55.051 249.122 717.189 2.086 Expenses-Maint.way 49,161 117.524 207,704 300,088 35.669 72,539 193,803 99,171 34.356 281.157 477.562 3.452 equIpm'tMalnt of 13.527 16,310 39,862 50,343 914 1,146 2,829 3,533 4,191 44.942 24.686 553 Traffic expenses 205.-65 150.739 31,520 409.955 610,778 40.655 81,479 114.388 80,218 2.945 458.111 963.457 Transportation exp. 299,211 456,549 99,127 945,796 1,355,485 398,330 142,696 257,584 180,995 12,566 Tot.exp.,Incl.oth. 1,074,520 2,307,604 23,773 ----707114 i788i3' 280,569 "WM'T2T3 -87 • -78,439 •••••M .o8r 7=45.637 T71 242' -13Net from railroad_-- -412,547 5,114 16.270 14,866 45,425 43,607 1.160 8,167 10,413 5,488 3.694 49.145 52.724 Taxes 92' 71 44 71 95 45 1 99 87 298 Uncollectible revenue. 203,924 106.401 18,615 433,307 -236,86' -41,796 -86.606 22,292 -51,126 -16,880 -461,779 -224,264 &c_ Netafter taxes. 171.161 70.61 - 3'-3iT. 140741 25,821 -2T3'81MM. 7.987 -28-27855 -10- 8(F "1,798 Net after rents 550 56 550 550 550 56 56 56 364 364 364 364 Aver. miles of r'd oper. Missouri Kansas & Texas RR Nashville Chattanooga & St Louis New York Central System New York Central ER -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. 18,094,764 15.790,357 48.768.219 47,782,428 6,194,805 7,457,131 19.210.919 21,491,763 27.598.745 26.326.622 76,,81.650 77,344,599 2,854.786 2.909,508 8.039.999 8,952.033 7.153.972 5.953.342 19.264.921 19,552,127 362,869 345,769 947,457 969,944 10.124,120 11,3-9.013 29,290,999 36.696.373 21,634,489 21,805.035 60.865.577 69.866.622 5.964.25 T.-52-1750 1-57976767-3 7,477,937' 1.687.751 1,616.713 4,760,266 4,788,432 2,314 3.056 14,754 10,152 4,274,191 2,901,818 11,141.053 2.679,353 4,5557g3-6 3,072.946 11,612.442 3,008,575 6,098 6,078 6,078 6,098 Cincinnati Northern Tex of Nevada Northern Missouri Kans & Texas Ry -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1922. 1921. 1921. 1921. 1921. 1922. 1922. 1921. 1922. EARNINGS. $ $ $ $ $ $ $ $ 349,289 2L,360 16,612 119.655 4,719,811 853,248 40,069 41.940 691,778 1,187,166 8,456 1,691.882 3,22 Freight revenue 15.689 21.698 3,131 19,586 9,211 45,562 6,066 60,033 392,237 561.516 1,192,190 1,770,144 Passenger revenue- 371.736 154,326 288.541 23,151 6,992,283 52,697 59,421 918.811 780,402 Tot.,incl. other rev. 1,752,813 2,431,521 4,846,648 43.478 39.152 35,547 10,802 995.645 11,917 28,516 128.185 121.100 190,502 646,199 345,333 Expenses-Maint.way 58,542 27.747 221 72.265 8,778 138,575 8.316 193,787 187.940 662,567 1,179,426 419,630 Malta of equipm't_ 4,701 5,433 504 643 1.953 130,258 14,392 1.315 16,022 41,317 127,552 42.681 Traffic expenses_ 105.5-6 112.-03 6,0'2 65,169 295.483 22.054 20.004 702,747 1.0:32.207 2,055,251 3.128,868 345,260 Transportation exp. 221.067 237,237 21,597 6W,'05 142,033 600,436 46,581 693,252 To t.exp..incl.oth. 1,260,948 1,9 5,238 3, 82,117 5, 85 055 150.661 ./4 --1=18T375 5I= 1Ti55 12,29g 8,111 -8,284 7,14 4 456,283'ThirCnt 1,20 ",22$ Net from railroad_ 25,928 29,418 14,612 6,118 9,816 137,881 63,615 18,347 43,836 51,712 153,100 47.827 Taxes 328 444 104 330 1,495 5 Uncollectible revenue. 124,413 36,692 -3,-00 -26,631 -17,125 -4,564 254,430 440,049 909,9:16 1,068.10' 43,308 408,451 Netafter taxes. acc.. .. -6,546 100.632 30.457 -108d 274,026 65 -17,123 19- --3-0,144 9--,-ng 166-74M "3-90,256 . 11,486 Net after rents 244 245 165 164 165 164 1,739 1,737 244 245 1,737 1,739 Aver. miles of r'd oper. Cleve Cin 011ie & St L (Inc Peoria & East) Newburgh & South Shore Missouri Pacific -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.311922. 1922. 1922. 1922. 1921. 1921. 1921. 1922. 1921. 1922. 1921. 1921. EARNINGS. $ $ $ $ $ $ $ $ $ $ $ $ 5.648,376 4,993,863 14,900,288 13,933,660 6.658,292 6,654,848 17,819,528 19,48',665 Freight revenue 1.192.019 1.428,4-9 3.554.052 4.263,044 Passenger revenue... 1,310,215 1.630.867 3,866,018 5.080,851 176,423 444.952 381,376 7.373,534 6,949.309 19.890,379 19,673,704 104.020 Tot.. Incl. other rev 8,653.601 8,958.854 23,543,536 26,86 .83 34.079 7,860 595.065 6,022 900.349 1,890.676 2,262,707 17,268 Expenses-Maint.way 1,275,534 1,754,551 3,628.488 4.512,730 91,933 1.348.629 1,332,454 4.345,475 4,032,576 21,285 90.961 36,163 Maint. of equipm't. 1,957,105 2,166.486 4,985.909 6,550.520 142.058 112.365 125.381 529,267 445,639 321.613 371,721 165,044 Traffic expenses_ 202.092 2.581.024 3,2 .100 7,681.017 9,513,239 53.002 177.753 60,414 Transportation exp. 3.460.288 3.913,661 10,024.457 12,592,470 296.541 341.911 4,865,403 5.866.550 14,85,409 16,852,332 106,277 86.521 Tot.exp..incloth. 7,132,452 8,371,452 19,952,381 25,1 '5,440 14S:411 - 39.465 -2,508.131 1.t18/17,499 .750 5.014,970 2,821.372 58-TITO "3-;-64-170:5' 1,692,30 •••••76rjr-g4 Net from railroad.... 7,521.14028.021 497.839 801.358 315,336 1.157.676 13,926 36.575 388,744 8,711 946.007 330.485 1.166.183 Taxes 537 11,760 8 11 8 2.755 2.292 2.945 7,440 1,210 5,345 Uncollectible revenue_ 11.433 2,007,997 89.29 111,828 766.886 3,854,349 1,874,155 56,212 8,-88 k1 Net after taxes. &c_ 1,129.650 • 251,5'2 2,417,532 6-1,249 --1-677-67' -T[3Of --X0 777T82 --1 -2 2172-86 -T.976.044 5307251 "37510,066 1,085,698 1,506,123' 4-77J50 Net after rents 7 2,424 7 7,342 2,415 7 7 7,300 7,314 2,415 2,424 7,300 Aver. miles of r'd oper. Indiana Harbor Belt Great New Northern Orleans Mononaahela Connecting -Month of March- -Jan. 1 to Mar. 31-- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.311921. 1922. 1922. 1921. 1922. 1921. 1922. 1921. 1922. 1921. 1921. 1922. EARNINGS. $ $ 5 $ $ $ $ 3 ' 492,086 495,497 186.432 173,983 Freight revenue 124,644 9'819 31.885 42.636 Passenger revenue... 881.401 760.641 2.288.900 2,281,857 645.802 194,016 149,722 226.198 224,999 614.682 49.633 3.50,111 Tot.. Incl. other rev. 66.169 150.514 194.560 102.635 395,588 14.354 35.023' 100.236 30.698 5.975 35,695 33,814 Expenses-Maint. way 54.727 146.345 195.984 461,261 101.476 56,537 179.259 33,045 22.413 52.843 equipin't_ 60.490 10.260 Maint. of 3.621 4.836 11.239 12.280 17.054 506 14.183 1.731 6.406 4.875 579 1,595 Traffic expenses... 366.-99 351.2-9 1.012.124 1.288,426 282.4956,486 204.498 91.8-9 122.1865,505 26.951 141,587 Transportation exp. 508.822 6-8.909 1.472,317 2,235,284 532.643 5.10.349 174,597 08.5 0 236.V4 165,115 50.053 252.482 ToLox1).,Inci oth. 816.58.1 81.-32 4675-7:1 -T7152 --5 61,083 ""'" 50.40 """---84:131" 71717M ."-372.5-9 -42d' 98.229 -42,6o8 Net from railroad.... 50.023 109.649 14.075 35,448 45.703 2.292 45.053 5,809 15,299 15,009 1.660 6,335 Taxes 326 326 1R 2 52 3 Uncollectible revenue_ 6".657 706.608 322.230 11.123 6'.43 46 39,228 48,860 46,071 -48 35.103 -2.080 91.894 Net after taxes. &o. -175.717; -2767Tö 40,764 37,377 ...-TMF •---5-,706 94,063 Netafter rents 120 119 119 120 274 274 274 7 274 7 7 7 Aver. miles of r'd oper. of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar.31- -Month 1922. 1921. 1921. 1922. 1921. 1922. 1922. 1921. $ $ i $ $ $ $ $ 1,224,056 3,292,567 3,420.122 1,760.471 1,9:0,384 4,707,637 3.686.760 1,239,438 Freight revenue 354.643 411.858 1.074.324 J.338,298 585.240 1.338,739 1,918,980 448.554 Passenger revenue.-1,430.651 1.808.240 4,688.267 5,191,692 Tot.. incl. other rev. 2.465.,90 2,748.847 6,722,082 8,161,325 265,756 425,396 900,311 999,687 705,328 644,217 354,355 196,205 Expenses-Malut.way 559,401 559.353 1,404,814 1,461,661 779,160 1,351,597 2,424,980 412.810 Maint. of equipm't_ 82,701 220,656 66,414 218,153 135,650 46,694 145.169 47,196 Traffic expenses_ 684.859 924,806 1,981.584 2,689,106 712.806 1,000.958 2,105,528 3,089,291 Transportation exp_ 1,65.,327 5,460.365 6,954,583 4,512.003 2,011,157 1,855 2,2 4,584.251 0 1,502,7; Tot.exp..inci.oth. 73-,324 -232,917 4'-2-..68,673 1-767264.'6,00 -67T1 963.026 2,13,,831 170 Net from railroad.... 35,000 150.000 328,498 105,000 68.890 109.457 429.465 186.408 Taxes 88 514 1,375 416 840 484 3,765 5.257 Uncollectible revenue. 38,236 -419,187 6.869 70,424 -302,223 8 367,051 1,703,109 772,847 Net after taxes. &c_ 69.10-4 -257,§M "iri= -217.0. ,an 444,362. 1,849,307' 1,230---11-2-2--,4'7i Net after rents 1,258 1,258 1,258 1,258 1,715 1,670 1,715 1,670 Aver. miles of r'd oper. EARNINGS. -=6-4;85-1 10 RAILWAY EARNINGS [VoL. 114. New York Central Sys. (Cond.) New York New IIEIN4311 Ji Hartford Pennsylvania Sys-Eastern Lima and Pennsylvania Company -Month of March- -Jan. 1 to Mar. 311922. -Month of March- -Jan. 1 to Mar. 311921. 1922. 1921. 1921. 1922. 1922, 1921. $ 0s Freight revenue_ 5,421,639 4,570,153 13,603,695 11,691,362 32,978,761 27,408,087 83,589,875 81,017,212 Passenger revenue..__ 3,706,669 4.153,321 10.958.958 12,088,913 9,168,491 10,309.416 27.351,747 32,388,734 Tot.,incl. other rev. 10,202.920 9,831,936 27,504.446 26,645.787 45,346,900 42,3.0,128 120028,773 124594,915 Expenses-Maint.way 1,012,995 1,312,421 2,827.427 3,901.945 4,384.066 4,443,053 11,342,707 13,615,883 Maint. of equipm't1,977,576 2,211,145 5,189,431 7,114.547, 11,140,726 12,230,424 30,781,932 38,242,225 Traffic _ 62.845 71,188 427,823 524,482 1,289,982 1,429,260 164.844 187.376 expenses_exp_ Transportation 4,137,361 5,194,806 12,050,901 15,585,950; 15.626,941 18,766,211 45,222,648 59,763,680 Tot.exp.,inc.l.oth. 7,649.679 9,376,680 21,552,792 28,453.163 33,366,971. 37,820,771 94.003,956 118675,112 Net from rallroad.....__ 2,553,241 455.256 5,951.654 -1T807,376 11,979,970 4,540= 26,024,81 5,919,80J Taxes 385,843 395.000 1,157.529 1,185,000 1,371,737 1,426,308 3,277,404 3,398,333 Uncollectible revenue_ 780 6,186 5,026 1,235 11,146 ' 8.481 3,554 10,064 Net after taxes, &c_ 549 -88,309 68,988 -338,682 2,166,618 54,070 4,790,571 -3.002.440 10.603.216 3,121,814 22,736,267 2,512,989 Net after rents 22,240 -6,494 97,658 -105,004 1,775,085 =337:162 Th,573,858 '3,991,792 10,130,353 2735 - 7278fi 1,491,176 55M8 Aver. miles ofr'd over. 176 176 176 176 1,986 1,986 7,323 7,322 7,322 1,986 7,323 1,986 Lake Erie & Western Atlantic Baltimore Chesapeake & New York Ontario & Western -Month of March- -Jan. 1 to Mar. 31- -Month of February-Jan.1 to Feb.28- -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. EARNINGS. 1922. 1921. 1922. 1921. 1921. 1922.1921. 1922. $ $ $ $ $ s $ $ $ ' S $ $ 702.209 633.930 1,970,268 1,876.168 freight revenue 81,234 93.801 719.856 185,657 719,203 1,259.103 1,389.622 229.366 37,183 66,598 104,825 194,989 Passenger revenue.._ _ 110,192 25,531 31,665 121,697 63,350 236,180 83.511 263,227, 769,953 741.050 2,152,660 2,172.073 Tot.,incl. other rev. 109,80/ 959.926 12/,0 t9 258,753 969.341 1,766.229 1.928,868 320,354 328,219 114.875 108,218 397.205 Expenses--Maint.way 10.645 19,650 87.018 39.254 25,520 103,250 188.638 236,1111 179,437 222,938 447,009 720,165 . 207.217 Maint. of equipm't_ 42,063 248, -389 113,758 39,517 98,576 408.735 514.226' 17.856 20.069 53,809 59.967 Traffic expenses...... 938 14,446 13,955 4,136 1,530 3,810 27,859 . 30,115 808,734 370,481 914,080 1,099,084 Transportation exP465.042 73,303 65,374 503.674 185.981 213,789 947.292 1.052.597 653,711 750.772 1,837,698 _2,363.697 Tot.exp.,inc.l.oth. 123,120 138,699 801,375 910.621 1.630,476 1,899,173 324,791 383,134 116:242 -9,722 =-314,962 ---191.624 Net from railroad.... _ _ ='1I-6-51 158.551 18.726 135,753 29.695 -13,31. ' 45,068 130,264 44.668 134,004 Taxes 2,873 38,000 2,896 35,500 71.000 76.000 105 223 1,482 1,423 Oncollectible revenue_ 2 Cr22 4 7 3 71,049 184,475 -55,813 -327,110 Net after taxes, &c_ 120,549 33,242 59.746 -41.308 --16,186 --14,546 --66,042 -62.788 --35,202 158.923 7 1;114 ---311 ,915 Net after rents 75,097 --7 17,-T-85,0 37,007 -17,322 -28:549 -15,935-64,113 -65,101 718 718 738 738 &vow. miles of r'd oper. 87 87 569 87 87 569 569 569 • Michigan Central Cincinnati Lebanon & Northern New York Susquehanna & West -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. EARNINGS. 1922. 1922. 1922. 1922. 1921. 1921. 1921. 1921. $ $ $ $ $ S $ $ $ $ $ $ 4,761,901 3,502.664 12,038,461 10,155,786 Freight revenue 318,350 223,053 78,160 76,000 178,117 774.057 253,200 716.546 1,192,496 1,617,332 3,697,320 4,930.721 Passenger revenue..- _ 7,274 58,034 7,701 64,974 20,982 26,752 173.719 192.394 Tot., incl. other rev. 6,563.956 5,650,432 17,373,241 16,494,477 422330,006 1,084.636 1,04E999 84,595 .-996 88,970 228,740 272.663 636,890 631,147 1,819,180 2,021,770 Expenses-Maint.way 53,469 51,967 16,735 112.385 19,196 40,961 49.688 145748 Maint of equipm't. 1,622.734 1,115.703 4,300.491 3,562.230 45,008 56,574 14,472 5,573 153.587 47,839 47.418 172.785 94.280 82.965 279,139 289,942 Traffic expenses...... 3.991 ,531 6,211 • 1,683 11,416 J 4,794 5,007 12,373 Transportation exp.. 2.291,790 2,532.788 6,621.064 7,790,048 205,730 252.432 55,951 66,966 176.483 581.554 162,684 782,657 Tot.exp.,inci.oth. 4,850,826 4,588,331 13,653.47114,353,023 _ ..:_. _ 90,506 86,125 317,975 378,096 263,276 889.267 1,143,127 288,676 1,713.130' =1,062,101 -3,719,770 2,141,454 Net from railroad__ _ _ -5011 05,021''48096.-195,366 ----101,128 2,84g -31is2Y -16,011 329.777 225,000 794,777 675,000 Taxes 25,492 7,100 8,153 25,833 76.476 15,367 77,684 17,646 6.425 7,212 1,106 3.559 UncollectIble revenue.. 31 8 165 21 835,995 2,917,781 1,462,895 Netafter taxes, &c_ 1,376,928 79.49-8 -73,931 -5,308 -49,894 -33.659 118,728- -178.833 -13,011 L259,285888.85g *-1578,289' -1,365,810 -Net after rents 68,327-=69,834 --79,620 -I-7157,923 1,862 1,865 1,862 1,865 Aver. miles ofr'd oper. 135 135 135 76 135 76 76 76 Pittsburgh & Lake Erie Grand Rapids & Indiana Norfolk & Western Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1921. EARNINGS. 1922. 1921. 1922. 1922. 1022. 1921. 1921. 1921. • $ $ $ s $ 3 $ 3 $ $ $ 2,092,246 1,541,964 5,159,960 5,734,930 revenue freight 60 6,579,447 1,957 501.000 5 1,37 9,913 5,044,427 17,201,307 1,829.200 15,987,998 192,931 269.094 595,217 837,270 Passenger revenue__ _ 650,768 160,651 129.611 457,272 815,113 1,900,262 2.546,422 536,555 2.358.823 1,990,440 5,967,4i1 7,155,820 7,497,899 6,149.710 10,851,191 19,246,047 Tot., Incl. other rev. 811,993 695,316 1,971,621 2,031.659 221,892 299.803 687,346 1,108,482 Expenses-Maint.waY 53,047 927.461 78,058 908,802 2.597.065 2,782.605 207,477 194.716 547.903 3,253.489 2,010,463 1,898,396 Maint. of equipml_ 1,041.067 189,659 174.824 550,340 1,732.277 4,853.633 5,005,452 546.865 18,923 21,201 57,833 72,627 Traffic expeneee...._ 15,543 13.482 72.079 40,103 73,693 216.230 37,922 225.258 740,076 820,492 2,071,152 2,869,861 2.306,160 2,693,850 6,542,656 8,694,838 Transportation exp_ 394,780 394.280 1,090,031 1,218,480 Tot.exp.,incl.oth. 2,089.191 1,769,189 6,269,653 6,304,556 5,387,487 5,591.883 14,705,670 17,237,680 702,337 664,312 1,970.052 2,084,439 269,632 --221,251 -302,241 851,264 -2,110.411 Net from railroad_ _ _ 10056 317064 ---- 1,E61 557,827 -5,145,52i -2,008,367 - =52765 78,312 225,100 234,929 675,300 Taxes 450,000 30,315 390,000 1,350,000 1,170.000 31,379 61,741 59,647 12 176 Uncollectible revenue.. 9 617 8 1,129 56 1,964 8 1,586 191,308 -3,849 -537,347 175,964 1,659,795 Net after taxes, &c.. 78,268 681 -60,228 -112,435 166,698 3,793.557 836,781 263,89 6 217,389 ----237,225 . 894,847 rents after Net -1,933.795 = -073-8-6 ---70T3 -114:37C4 -11i703 277,377 -4:442,947 1,536;294 227 224 227 224 Aver. miles ofr'd oper. 575 2,237 2,220 569 575 669 2,237 .2,220 Toledo & Ohio Central , Long Island Norfolk Southern -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31-1922. 1921. 1912. 1921. EARNINGS. 1922. 1922. • 1921. 1922. 1921. 1922. 1921. 1921. $ $ 3 3 $ 3 $ II 3 $ 822.575 645,788 2,286,440 2,082,105 Freight revenue 62,855 2,097,209 1,745,858 637,937 881,479 577,668 1,522,186 1,420,155 60,368 84,322 183,668 240,036 Passenger revenue__ _ 111,240 127,193 318,227 380,887 1,183.599 1,150,780 3,392.037 3,241,422 909.774 768,860 2,543,245 2,412,627 Tot.,incl. other rev. 793.266 744,700 1,933.371 1,912.897 2,252,899 1,995,948 6,037,374 5,491,651 146,979 122.967 374,667 379.256 Expenses-Maint.way 109,252 279,361 108.546 285.016 719,249 303.348 763.544 293,753 271,750 661,878 173.943 621,183 Maint of equipm't_ 126,813 450,006 472,265 1,218,327 1.294,532 91.249 323,954 263.516 10.492 11,163 33,770 35,464 Traffic expenses_ 20,419 12.510 23,205 11,954 41,726 63.946 45.946 73,082 332.007 992,258 1,158,000 345,056 Transportation exP300.535 347,224 859,797 990.027 1,076,470 1,183,761 3,102,748 3,511,262 788,978 Tot.exp.,incl.oth. 685,241 2,146,966 2,298,846 588,097 604,482 1.644.143 1.72E959 1,803.03 2.037,149 5,303,523 5,871,784 83,60 -396,27d -113,781 -205,169 Net from railroad.._ -120.796 140,21S 289:228' ---1-00411 -359,8-06 -41,20( ***'.n3,85r 55,025 55,856 167,566 165,077 Taxes 49,282 32.315 46,789 32,675 106.087 83,182 96,024 100.720 1 2 Uncollectible revenue.. 2,472 159 84 2,652 6,223 189 2,955 86 65.771 27,763 231,201 -53,787 Net after taxes, &c_ 308,052 172,695 107,459 --90,642 205,857 0 621.541 -483,808 94,828 80,914 1-13,734 =251,221 = 104,401 --135,858 Net after rents 88.536" 132.52f' 65,286 673,239 503 503 503 Aver. miles of r'd oper. 503 930 942 398 398 930 398 943 393 New York Chicago & St Louis Maryland Delaware & Virginia Northwestern Pacific Month -Month of March-Jan. 1 to 122 of MarchMar.31-Month It2. -. .1 to Mg.?11 . l9t-EARNINGS. 1922. 1921. 1922. 1921. 1021. $ $ $ $ S $ S $ s $ 2,407.253 2,143,627 6,464.851 6,080,592 Freight revenue 61.264 66.452 143,431 166.456 315.306 314,897 866.343 783.429 76,234 97,492 239,123 Passenger revenue 291,128 15.894 21,978 40.916 59,129 176,316 195,021 495.659 564.329 Tot.,incl. other rev. 2,534.974 2,277,048 6,848,264 6,487,747 80,509 91,896 192,882 234,156 561,609 582.813 1,544,878 1,536,737 209.045 198,485 Expenses-Maint.way 633.608 582,967 8,969 14,503 20.303 31,832 99.283 113,985 298.119 383.133 422.667 523.243 1,188.936 1,249,189 Maint. of equipm't_ 34,789 17,057 77.938 44,907 64.013 81.627 219.532 260,795 0 expenses__ _ 56,105 Traffic 55.485 163.868 162,433 594 968 2.303 2,558 5.552 4,575 16.371 15.923 Transportation exp.. 872.464 978,062 2,606,933 3,008,707 52,926 62,400 150,887 181,573 241.074 265,732 781,860 716.675 Tot.exp.,incl.oth. 1,647.391 1,835,801 4,834,562 5,238,095 99,919 97,926 258,365 269,003 426,494 486.891 1,298,636 1,499,589 441,247 2,013.7(11 -1,249.6-52 Net from railroad_ _ --887.56 -65,483 **-34,84 135.115 95,921 37148 -19,41-6 246:4-8 122.356 96,000 Taxes 366,111 304,000 1,530 1,839 45,093 30,530 91.589 135.279 42 Uncollectlble revenue.. 12 60 34 6 3 14 5 199 22 765,185 345,235 1,647,531 Net after taxes. Ste_ 945,618 -7,869 -65,489 -34,850 90,008 65,387 110,77-ii -54.463 -20,940 -768.161 31473 1,576Net after rents .-801= 959,025 --21,858 ---==87fg --t=6W4Tr' 7-,16 -,arg 77,fid L844 70,572' -50,991 523 Aver. miles ofr'd oper. 523 523 523 82 82 • 82 82 507 534 509 534 New York Connecting Monongahela Northern Pacific 1 -Month of AArcp2. .1 to Mg.?1- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31EARNINGS. 1921. 1921. 1922. 1922. 1921. 1922. 1921. 1922. 1921. S $ $ $ $ $ $ $ $ 257.879 Freight revenue 267,235 219,557 1,276,938 703,691 832,118 5,807,723 4,754,472 14.418,551 13,169,170 539,186 899.146 Passenger revenue_ 37,641 31,447 91,752 113,892 1,180,049 1,417,765 3,346,386 4,107,961 Tot., incl. other rev. 307.825 278,561 773.424 261,517 1,381,403 1,027.704 862.674 7,608,200 7,018.557 19,455.525 19,248,807 574,735 Expenses-Maint.way 28.315 10.162 31.982 74,500 46,007 36.537 128,463 220,606 804,959 936,019 2,300,645 2,615.191 Maint. of equiom't. 8.001 18.815 63,978 85,618 73,279 48,096 1,848,791 1,708,154 5,287,133 5,051,798 162,119 206,221 Traffic expenses...2,237 1,398 3,653 7,300 131,731 115,276 388,490 348,624 Transportation exp.. 62,285 56,516 146,278 113,281 114,137 312.923 179.974 2,898,561 3,161,061 8,633,131 9,371,901 338,603 Tot.exp..incl.oth. 100,106 87,789 247,106 268,735 5,9'1,052 6,305,492 17,524.295 18.525,494 243,913284,242 637,798 796,381 207,710' *-T9 - 0,771 Net from railroad_ 526-.31S 5-93.939 1,63771T8-"ATM -2:.111n 7 -17,Va 1,9-3-1,1 -M -713711 Taxes 38.146 33,000 114,538 8,000 97,870 24,000 6,500 19,500 750,000 2,336,089 793,436 2,250,000 Uncollectible revenue_ 1,889 1,424 12,779 3.563 Net after taxes, &c_ 169,573 157,772 411,780 496,069 29,225 719,605 211,823 885,259 -81,795 -331,549 -1,616,330 -7372 7 12 96.062 Netafter rents 249.393' 94.-466 317,760 -12657802 -92,002 *--668,58g ,160,077 -261,01 'n- 5-8,802 ==:-T3(-M; 17,728 Aver. miles ofI'd oper. 19 19 19 106 19 106 106 6,656 106 6,655 6,656 6,655 EARNINGS. Kanawha & Michigan -Month of March- -Jan. 1 to Mar. 311922. 1921. 1922. 1921. 290,428 255,784 823,827 767,310 46,551 64,083 185,852 133,537 348.893 339.742 993,234 999.250 62.493 56.958 152.419 203.363 122,155 181.057 538.606 291.364 4,715 4.261 13,374 12,992 117,414 138,483 439,152 356.336 317,125 392,395 845,508 1,224,948 31.768 -51;653 153,741 -231,714 106,968 31,219 35,656 84,754 --i--27651 ---- --;--712 ---=-45:-4-v----=--a-6-,s-ss no-,681 ----:-.1-2uag-7-ab-,-- $ 'Z i.1 t°17.1] 92: $- --ya021 A 11 RAILWAY EARNINGS MAY, 1922.] Rutland 6 Philadelphia & Reading le to Mar. -Jan. it2 (Concluded) -Month of Mrcl -Month of March- -Jan. 1 to Mar.31New York Philadelphia & Norfolk 1921. 1922. 1921. 1922. 31$ $ -Month of March- -Jan. 1 to Mar. $ 830,49# $ 763.664 $ 271,606 1921. 298.538 1922. 1021. 1922. 2 18,311.743 17.388.612 364.625 339 705 30 475 113 008 375.000 1,207.325 1,168,000 7,395,843 5.400,77 3 2.821.38 492.820 3 2,320,85 946,566 Freight revenue 755,395 9 312,453 1.400.42 6 199,809 1,332,84 119,125 474.057 498,473 70.440 __ Passenger revenue.. 271,313 4 6,655.923 21.494.750 21.123.000 264.132 88.233 93.068 523,234 1,526,000 1,596,640 8,450,42 345.8/ Tot.,incl. other rev. • 606,401 729,997 2,114.611 2,168.816 602,121 273,528 115.836 156,308 95,971 151,324 56,602 0 59,011 2 6,552.58 26,323 Expenses-Maint.way 25.889 10,941 9,291 403,546 1,903,006 2,080,791 5,213.58 450,599 140,244 174,931 164.380 169,074 739582 63.733 Maint. of equipm't_ 57,615 651.081 237,608 216,604 26,685 23.202 10,278 7,457 Traffic expenses_ __ 2,787,210 3,064,166 7,824,232 10.004.522 968,820 -70 1.432.4 0 815,687 1,258,59 322,140 469.354 429,827 271.606 Transportation exp1,633,601 5,495,825 6,141,752 15,759,060 19,509,900 ---tWo ..-32,00.0 74.256 --555.886 ' 4,761 526,180 - , 1,510,274 Tot.exp.,Incl.oth. ,613,100 1 5,735.69 514,171 9 71,589 61,148 2,954,59 24,116 20,324 80.221 -32,652 • 15,726' -36,961 724,069 582.519 i 54 241,356 35 Net from railroad_ --- 197,480 54 34 31,336 31,365 11,756 11,767 Cr96 3,688 20 1,212 Taxes 75 20 67 13,075 -103.643 -19,467 48,288 18 Uncollectible revenue.. _889,127 3 5,149,48 7 272,795 2,755,90 -68,372 39-7710 -49,21 -9.361 52,918 68,436 -44,475 -15,659 Net after taxes, 235,636 41 415 415 415 -99,212 2,464.970 -53.159 4,475.027 .--=.57,512- -59,14-5 •----48,914- -----1,126 1,127 1,126 Net after rents 1,127 121 122 121 122 oper. System sco San & Franci Aver. miles of r'd Louis St Pittsburgh & Shawmut St Louis-San Francisco Pittsburgh Cincinnati Chicago & St Louis 9. - -Month of March- -Jan.1 to Mar.31to Mi,?1 i 12.h of March- -Jan. g2 - -Mont - -t21 .to Mc.?1 2i h of March -Mont 12 1921, 1922. 1921. 1922. $ EARNINGS. $ $ 121. $ 1 4.969,126 12.927,073 14.017.22? $ S $ $ 377,834 4.722,98 355,722 117,210 137,105 7 1,682,973 4.055,910 5,278.841 00 1.411.98 16,769,8 96 0 15,837,1 5,537.40 7 6.389,18 23,240 19.842 9.042 Freight revenue 7.383 1.498,501 2,645,156 4,556.121 5,981,629 9 6,986,007 18,217,507 20.696,167 Passenger revenue 406,112 6,516,50 378.252 127,881 145,805 838.203 2,174.924 2.297,886 859,372 5 9,374342 22,508,222 25,217.673 76.881 85,098 Tot.,ind,other rev. 8,624.88 18.062 30,497 8 4 1,403.899 3.547,750 3,985.936, 2.693.83 964,418 1,815,735 723,211 135.991 1,289,13 Expenses-Maint.way 91.572 273.447 48.965 217.079 31,290 90,461 1 8,186,14 91,193 8 6 6,202,35 2,406,47 2 2,158.05 _ equipml 7.426 2,483,963 2.893,711 7,088.867 8,736,454 4,785 Maint. of 2,269 1,848 366,642 307,214 117.222 106,611 153.580 Traffic expenses_ 110.084 46,658 41,380 95 8 9 5,368,748 13,583.698- 15,869,711 Transportation exp_ 3.248,131 3,778.357 9,450.53 12,502,9 396718-5 4,900.53 123,259 ....115,253 113,022 12 1,617359 4,633-80g 4,826.456. TO "1T615,9 Tot.exp.,inci.oth. 6,500,697 7,577,077, 18,595367 24,710,3 9.623 63,999 805.904 4,621 917,589 -32,783" 275.065 326.641 2,124,188 1,'797,265 3,912,355'-507,361 497 7,545 370 167 Net from rallroad 14,328 147 3,035 6 4.919 920,019 1,012,31 380,258 324,658 Taxes 5 2 7 896 5 3.701,89 4,013.00 281 9 1.339,15 0 1.284,41 17ncollectible revenue_ 9.126 63,629 4,455 32,636 3,976.146. 1,417,002 2,991.440 -504,960 5C-5111 7,15i.855 1,3Net after taxes. &c_ 1,799,249 122,320 4,760 100,883 41,03g 4,760 4'7,115 4,760 4,760 ,042.491 2,438,85f-1;473,324 "1-609.904 -1102 102 Net after rents 102 102 2,383 2,412 2,383 2,412 Fort Worth & Rio Grande Aver. miles of r'd oper. Pittsburgh & West Virginia Toledo Peoria & Western h of March- -Jan. 1 to Mar.311 to Mar.31- -Mont 1921. 1922. 1921. 1922. -Month of March- -Jan. 1 to Mar. 31- -Month of March--Jan. 1921. 1922. $ 1921. 1922. $ S $ 1922. 1921. 1921. 1922. EARNINGS. 232,128 193,802 80.353 $ S 63,087 $ $ 549.137 664,710 140,951 76.501 163,587 261.007 41,841 26.818 71,514 245,861 243,859 78,670 37.142 Freight revenue 26.758 13.134 9,260 165.163 52,555 402,112 138,958 297,695 52.096 131,196 99.418 Passenger revenue... 684.795 784.685 117.396 209.235 120.295 301.307 38.635 39,748 442,514 140,757 411,188 141,149 122.907 Tot.,incl. other rev. 71.462 75.031 37,615 66.641 24,997 25.447 107,268 32,700 23,335 64,613 22,337 .waV Expenses-Maint 238.157 270.604 10,351 80,152 8.118. 89.663 3,864 2,759 44.087 114,180 113,615 41.615 10,038 Maint. of equipm't_ 10.583 260.112 4,417 156,320 4,896 79,042 3,426 10,293 52,702 9.140 3.556 Traffic expenses 270,763 188.159 85,945 68,785 282,500 91,098 484,272. 215,716 367,537 69,579 exp. 153.555 124.331 Transportation 722.061 619,304 238,730 223,578 539,592 180,715 427,135 145.679 -22.35-4 -69.842 -82,160 Tot.exp..incl.oth. -24.91 165.381 -37.266 11,039 10.614 77,729 -29498 3,680 ' 5 o7:o78 3.538 -15947 'ä9.9 railroad 60,683 Net from 76,690 1.712 20,638 4 27,970 327 30,000 10,000 33,000 13.000 195 Taxes 80 98 14 -28,778 -26,043 -82.168_ -93,282 17ncollectible revenue_ 88,691 -98,144 49,759 -50,211 8 . -1387291 -947999 2 7 =377256 = Net after taxes, eic_ -17,544 -49.958 -49,045 -127,07 10.177 -=36,22 317 235 232 235 •-17;17:19 91056 235 .-.L ' ' / 235 -102,407 -62,822 =43,98 .-23,002 -17 85 Net after rents 85 85 85 247 247 247 247 Aver. miles of r'd oper. St Louis Ban Francisco & Texas rn -Month of March- -Jan.1 to Mar.31Pittsburgh Shawmut & Northe West Jersey & Seashore 1921. 1922. h of March- -Jan. 1 to Mar.311921. 1922. -Month of March- -Jan. 1 to Mar. 31- -Mont 1921. 1922. $ 1921. $ 1922. $ 1922. 1921. 1921. $ 1922. $ EARNINGS. $ 353.701 321,741 $ $ 91.610 $ $ 103.462 $ $ 268.596 285.251 61,454 86,441 43.117 17.800 102,190 2 14.867 1.040.56 268,925 782,538 424.517 22,299 • 26,085 Freight revenue 9.630 7,859 594,100 1,247,785 1.499,342 438,188 382.375 115,423 482.747 124.024 Passenger revenue 315.962 • 298.909 140.949 90.044 97.857 42.105 113.008 34,304 915.883 2,503.787 2,493.3T2 988.690 75.832 Tot.,Incl. other rev. 46.466 109.756 22.197 74.290 17,562 32,685 25.180 438.995 153.009 501.710 164,156 172.931, Expenses-Maint.way 130.580 10.377 52,540 10.577 3,841 47.090 3.925 572.472 189.737 578,815 190.787 . equipml 1. of Maint. 4.62 291.211 1,230 168,432 995 83.824 58,851 42,554 16,193 38,274 13,459 161,582 Traffic expenses 135.825 52,020 46,493 5 6 585,895 1,365.28 572.044 1,645,63 362,666 168,471 465,470 129,417 Transportation exp. 44:182 341,932 134,406 118,657 980,058 2,533,074 2,861,108 19.704'3385 872.978 -5.39-3 -53.04 Tot.exp.,Incl.oth. -25.970 -134.273 5.970 5.593 -36.540 1.990 f 1,864 =29,28 • -64,17S : 367,766 77 ` -115,712 " Net from railroad 6,709, 6,731 . 124 496 2,247 4 2,267 199 12,240 12,381 Taxes I 420 20 0 13,623, -139,95 -55,042 45 -7,456 Uncollectible revenue_ 2 -140,98 -32,701 -38,796 -7,916 103,280 -'76,435 -29707 -367,8-68 -27,196 -96,689 -49,125 -252,9TZ Net after taxes. &c.. ' -53,305 134 27,590 ,340 '" 134 ---17 134 -6,515 134 7 91-,938 -75,1371 -• 407,501 Net after rents 209 210 209 210 359 359 359 359 Aver. miles of r'd oper. St Louis Transfer g Readin Port h of March- -Jan. 1 to Mar.31Peoria & Pekin Union -Jan. 1 to Mar.31- -Mont 1921. of March h 1922. -Mont 311921. Mar. 1 to 1922. -Jan. March -Month of 1921. 1922. $ 1921. 1922. $ 1922. S 1921. 1921. $ 1922. EARNINGS. $ $ $ $ 485,159 518.151 138,897 230,949 48.908 44.668 18.643 17,814 Freight revenue 8.583 303,032 8,113 2,544 200,077 80.771 2,860 Passenger revenue... 655.515 -12.010 713.209 30,031 191,219 28.753 10.811 307.738 491,102 9,577 471,632 165,251 174.336 Tot.. Incl. other rev. 45,495 49.556 12.688 17.358 13,396 3,570 14,047 6.455 32,153 26,146 62,890 .way 15,237 s-Maint 19.401 Expense 17,819 587 5,929 539 4,214 196 169 35,060 64,007 108,574 19.526 Maint. of equipm't_ 54 687 128.509 18 104.459 229 173 40 320 36.053 173 54 147 Traffic expenses_ 261.615 203.548 68,247 74,180 202.995 178,045 99,062 295,749 152,602 56,793 exp. tation 54,004 69,825 Transpor 327.455 278,090 91,812 96,622 327275 124.987 166,606 485,973 47,475 23,97-4 114,011 Tot.exp..incl.oth. 328.060 -66,014 435.119 1,078 9940 2,675 362 211,116' 892 =1,355 ==-163,827 =14,341 60,325 Net from railroad.... 39,490 45.041 171 124 13,164 231 16,295 41.500 39,000 14,000 15,000 Taxes 123,738 44,676 23_,385 Uncollectible revenue_ 288,570 -66,906 390,078 243 86 194,821 109,894 1223_21, -53.341 19,41T18,1-71 45,325 -15,355 Net after taxes, dta.. 96,509 -75,569 6 - --123,471 *==-26,721 .-190-,678 6 5§ 14--,16 6 196:440 12,434 68,174 21 Net after rents 21 21 21 19 19 19 19 Aver. miles of r'd oper. St Louis Southwestern System Quincy Omaha & Kansas City St Louis So3ithwestern Perkiomen h of March- -Jan. 1 to Mar. 31-Month of March- -Jan. 1 to Mar. 31- -Mont 1921. 1922. 2?1-.1 to 31(19. 1921. 1922. 1tr2crof M th n 1922. 2 ° 2 1 9 11 1921 1921. EARNINGS. $ $ $ $ 1,179,605 3.588.004 3.553.295 $ 228.485 1.386.852 158.285 488.597 85,307 382.869 64,374 155,450 232.510 313,120 123.599 62,228 80,781 .83,033 Freight revenue 66.294 27.534 23,424 20,810 25,526 8,872 6,738 6 1,397,534 4,123.184 4,214.069 Passenger revenue..._ 331.998 1.567,82 247.962 523,553 119,314 676.273 351,10 95,067 157.948 263,323 234,616 75.590 91,277 68,761 Tot.; incl. other rev. 82,690 779.640 18,579 654,459 20.630 258.551 253,736 19.364 17,964 5.878 6,633 Expenses-MaInt.way 52,252 52.744 13,285 151.036 131.896 17,408 48.706 42,952 12.542 12,186 4,382 4,170 Mafia. of equipm't_ 2.707 2,497 1.028 788 435,859 1,077,759 1.330.926 324 46 387,038 18 Traffic expenses 190,074 135.571 57,639 46,117 132,965 113,440 38,414 965.398 2,717,163 2,976,963 44,124 Transportation exp_ 978,530 320,132 279.065 92,378 87,651 167,989 144,940 55,659 49,120 Tot.exp.,incl.oth. 432.136 1,406.021 1,237,106 589.296 =137,090 Th6984 -31TI0S 174.231 48,891 35,61g 43 7,41670.905 i6.476 ``=-95,33r ""--2-0-67.2 12,449 Net from railroad.... 11,774 687 4,150 1.005 244 3,925 17,766 88 9,432 9,023 3,144 28 Taxes 28 _9 5 1.099,32 1,230,78 revenue_ 383,001 ible 518,303 Uncollect -611 -42,877 22,758 3,491 6 77,56196,817 23,326 26.595 358,347 1.083,579 1,020,642 442,295 Net after taxes, &c_ -=5 -54,48T 968 • 20:202 968 -298 968 61,62 --1.82-;"8-31 968 22.058 17,967 253 Net after rents 252 252 252 41 41 41 41 Aver. miles of r'd oper. St Louis Southwestern By of Texas ac Potom & icksb Freder ond Richm h of March- -Jan. 1 to Mar.31Pere Marquette - -Jan. 1 to Mar.31- -Mont 1921. 1922. 1921. 1922. -Month of March- -Jan. 1 to Mar. 31- -Month of March 1921. 1922. 1921. 1922. 1922. 1922. 1921. 1921. EARNINGS. $ $ $ 1,360,695 1,435.271 $ 466,907 $ $ 444.210 $ $ 0 1.356.37 487,962 1,086,438 306.079 251,988 435,330 100,314 80,852 2,728.788 2,323,495 6,721,563 5,758,328 Freight revenue 955.056 1.069.935 384,325 335,107 367,861 502,576 1,099,806 1,356,280 625,103 1,707,180 1,884.303 557.070 Passenger revenue.-. 6 2,700.86 7 2,440.29 989.052 445.321 912,709 497,213 141,007 8 6 7,704,99 193.338 448,374 Tot.,Incl. other rev. 3,362,333 3,065,940 8,484,35 233,708 151.906 595,248 498,928 80.376 202,428 698,683 831,765 191,111 268.370 252.423 Expenses-Maint.way 454.321 338.218 162,834 64.927 59,069 118,260 22,368 1 3 1,672,42 20.195 1,582.91 _ 686.870 512.274 22,654 Maint, of equipm'e 22.851 6,318 9 1,051.35 7,414 919.969 343,547 151,138 152.777 314.367 50,765 46,732 Traffic expenses... 936,225 1,190,170 397,144 324.811 0 6 6 7 4,052,55 2,269,28 5 1,302.22 4 3,657,52 2,067,99 1.370,95 exp. 747,499 Transportation 750.013 7 2.238,55 6 1,678,10 --776,525 582,529 2,396 =36,815 =3871,788 Tot.exp..Incl.oth. 2,424,441 2,301,231 6,522.786 6,975.243 -i92, 462.309 762719f 21 ' 2 72,016 210 72,000 24,005 -1-C9 TRW ..729:756 vTc, 24,000 937,892 107,475 Net from railroad..... 122,999 129 31,007 125 47,576 66 255,811 31 ' 418,899 88,899 161,684 2 Taxes 131 1 4 859 283 424 0 --457,128 1.416 --432,94 7 --146,46 4 --216,97 Uncollectible revenue_ 354,832 061 639 181.519 282,600 e 473.085 --405,90 675,386 1,541,255 775,925 1 -427.521 Net after taxes. &c_ 216,930 --214,533 -131.85 807 807 11574n 1-257311 460784' 807 807 72---iT2 ,15,921 '1,143,008 ..**.45g-,067 117 Not after rents 117 117 117 2,238 2,238 2,222 2,222 Aver. miles of r'd oper? Pennsylvania System EARNINGS. 1-,837,393' sa - -g - - 12 RAILWAY EARNINGS [VOL. 114. Sam Antonio & Aransas Pass Southern Railway System (Cond.) Southern Pacific System (Cond.) -Month of March- -Jan. 1 to Mar. 31New Orleans & Northeastern RR Houston East & West Texas 1922. 1921. 1922. -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.311921. S 1922. 1921. $ s 1922. $ 1921.. 1922. 1921. 1922. 1921. 4Prelght revenue 344,258 329.755 922,899 1,021,266 423.209 474,483 1,158,977 1,316,755 18/%638 522,643 161,743 501,593 Passenger revenue 60.437 247.580 80,674 71,190 175.770 87,207 278,449 215,172 37,671 45.225 108,630 141,911 Tot.. Incl. other rev. 417.627 454.163 1,171.226 1,354.577 546.490 607,840 1,510,556 1,742,855 236,369 664.4.6 214.886 678,696 Expenses-Main t.way 93.899 366,624' 275,000 89.941 68,089 95.943 202.808 298.681 48,983 87,363 141,607 166.469 Maint. of equipmet_ 144.445 108,447 356.264 98,628 308.836 108,690 283.399 357,026 49,302 148,837 33,487 110,270 Traffic expenses_ _ 8.918 27,993 11,344 10,122 32.703 9,251 34,042 3.227 35.081 9,932 2,981 10,998 Transportation exp_ 216,653 606,094 280,291 834.427 207.645 242,018 703.691 884,383 310,728 105,899 103,351 357,905 Tot.exp..Incl.oth. 517.484 1,337,964 1,615,344 486.931 438.057 526,920 1,287,513 1,639,215 632,731 210,090 668,721 236,578 Net from railroad_ _ _ _ -69.306 -63.321 -166,738. -266-767 107,-533 103.640 --26-;-27$ -21,692 9,076 Taxes 13,612 13.173 41.124 36.371 39.707 38.189 123,473 114,951 1,101 7,939 23,817 16,139 Uncollectible revenue_ 422 22 112 1,273 281 21 316 863 139 305 253 93 Net after taxes, &cc_ -83.340 -76,516 -209,135 -300.586 70,881 42,719 99,254 -12,174 25,039 -29,724 15,353 -14,147 .Net after rents -75;202 -238,197; =271,120 -- -97.661 -6-C-69-3 -16,146 71,64g -149.1511 17.727 -45,90 -26,614''-67,551 Aver. miles of r'd oper. 739 738 207 738 739 207 207 207 191 191 191 191 Northern Alabama San Antonio Uvalde & Gulf Louisiana Western -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar. 31EARNINGS. 1922. 1922. 1921. 1921. 1922. 1921. 1922. 1922. 1921. 1921. 1921. 1922. S S $ S $ S $ $ $ S S S .Freight revenue 51.797 45.430 92,540 139,484 54,163 143.113 235.140 297,454 200,955 270,340 748,437 802,553 _ revenue_ _ Passenger 15,281 25,544 47.681 11.208 78.396 14,309 32,346 45,723 85,648 98,795 307.773 257.188 Tot.,incl.other rev. 81.372 83.516 106,104 256.438 215.599 72,159 274.091 255,190 406,717 286,290 1,125,951 1,122.660 Eupenses-Maint.way 10,020 14.670 17,615 39.676 34,239 25.626 49,766 60,497 62,992 55.630 195,015 163,539 Maint. of equipm't_ 11.834 7.326 32,411 5,989 42,341 5,488 15,211 17,065 60,676 77,911 264,426 198,157 Traffic expenses_ _ _ 2.577 8.061 3,287 1,223 2,064 7.933 4.211 5,824 9,736 10,183 2",357 35,024 Transportation exp_ 34,665 43,691 96.207 35.114 127.281 42,637 105,481 145.429 123,500 127,143 368,729 332,324 Tot.exp..incl.oth. 66.067 75,657 62,894 237.497 190.566 79,069 183,467 239,287 280.125 291,957 820,581 894,269 Net from railroad_ _ _ _ =-17.44§ 6,715 25-.033 43,210 18.941 -6 --W = 00,624 265 15,9 3 94.333 in-1 )5,3-0 Taxes 2,818 2.819 8,639 4.047 8.398 3,814 12.141 12,833 27,274 34,250 83,891 81,822 'Uncollectible revenue_ 9 5 25 265 51 100 1,079 206 25 Net after taxes, &c_ 14,630. 2,888 39,158 -10.724 16,129 10,518 78,432 3,090 99,218 59,877 222,460 142,475 Net after rents ---- 2.151 -7,156 -15.736 -19.467 11, 0-1 -23.085 36,-18-6 -46,-Nn957465 56:4 21 --2 FCA' 132,650 'Aver. miles of r'd open 317 317 110 317 317 110 110 .110 207 207 207 207 Seaboard Air Line Southern Pacific System. Morgan's Louisiana & Texas RE -Month of March- -Jan. 1 to Mar.31Southern Pacific Month of March- -Jan. 1 to Mar..31EARNINGS. 1922. -Month of March- -Jan. 1 to Mar.311922. 1921. 1921. 1922. . 1921. 1922. 1921. X 1922. $ $ S • 1921. 1922. 1921. $ $ $ $ revenue .Freight 2,913,811 2,784,488 7,546.501 8.211.653 9.153,852 9,773,479 24,335.092 26,779,718 516,765 599,587 1,364,283 1,049,276 'Passenger revenue_ _ _ 926,196 2,601,123 3,011.114 3.498,118 4,536,542 9,930,211 13.035,409 789,884 139,899 168,841 440.371 512,361 Tot.,incl. other rev. 4,124.559 4,005.534 11,122.374 12,200.797 13.910,283 15,9*6,324 37,705,759 44,259,053 713,576 810,219 1,949,013 2,303,103 •Expenses-Maint.way 371.542 412,146 1.221.345 1.402.025 1,925,837 2,275.397 5.762.622 5.993.866 138.450 156,766 414,200 510,697 Maint. of equipm't_ 665,066 2,032.938 1,972.898 2,570,631 2.711.824 7.353.890 7.781,242 733.943 143,903 167,729 447,205 511,294 Traffic expenses__ _ 126.051 129.677 228,665 383.130 363.066 211,317 685.527 662,615 17,007 17,486 40,937 55,146 Transportation exp. 1.745,291 1,970,539 4.919,000 6,010,300 4.813.327 6.132,523 14,031.876 18.316,926 285.566 356,276 812,123 1,049.803 Tot.exp..incl.oth. 3.185.238 3.381,224 9.102.931 10.371.967 10,224.863 12.0'3,473 29,866,7A 35,048,576 625,543 735,719 1,839,293 2,234,822 939,321 Net from railroad.... 624,30 .--2:-019441 3.986,300 -3. ,g37761' 7.830,63-6 9.210,477 88.63g 7475-or) 68,281 'Taxes 150,000 175.000 911,854 3,806,916 2,735,562 505.000 450.000 1,311,619 45,024 63.490 135.072 146,955 293 8,199 Cr278 • Uncollectible revenue_ 852 3.880 1,743 18,881 12.894 195 15 772 740 Net after taxes. &c_ 764,028- ..... 474.588 1,513,591 1,374.950 2,335,572 2,919,254 4,013,242 6,462,021 42,814 10,995 -26,124 -79,414 , =_-_,.-, ===Net after rents -434.159 30E450 690.109 86-4-,87T1 2,3107567 2,90.7437 -3.0-17,882 6T0711 1 . i 09 " =7 7 32 -1733 -84,6W -1 9 33 .Aver. miles of r'd oper. 3.563 3,563 7,119 3.563 3.563 7,110 7.116 7,110 400 400 400 400 Arizona Eastern Southern Railway System Texas & New Orleans Southern Railway -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar. 31EARNINGS. -Month of March- -Jan. 1 to Mar.311922. 1921. 1922. 1922. 1921. 1921. 1922. 1921. 1922 1921 1922 $ 1921. $ S $ $ $ $ $ ,freight revenue 8.054.334 7.334.170 20.412.177 20.658.927 196,265 257,080 505,236 740,232 542,526 557,256 1,718,743 1,660,193 *Passenger revenue_ _ _ 2.222.300 2.632.041 6.702.750 8.008.024 30,030 43,389 85,975 146.217 150,258 160.564 442,498 475,074 Tot.. Incl. other rev. 11,038.652 11.153.007 29.275,871 31.644.266 233.938 315,943 616,890 952,848 731,064 752.254 2,280. 03 2,238,596 Expenses-Maint.way 1.496.614 1,796,890 4.147.840 5.681.255 26,468 56.288 79.240 164.913 155.166 176.391 420,428 467,071 Maint. of equiprn't_ 2,031.272 2.411.351 5,469.272 6,950.506 31:018 43.122 81,371 140,104 185.512 215.-22 529,464 646,137 Traffic expenses_ _ 212,981 3.852 227.099 616.395 3,300 650.298 9,103 11.789 10,325 13,509 34.577 37,881 Transportation exp. 4.314,286 5,023,140 12.322,214 15 635 335 70 368 114.237 195.371 314,650 268,530 351,287 825,863 1,029,307 Tot.exp..incl.oth. ä.483i7 9.915,252 23.773,760 30.264.349 149,245 245.3 417;230 78 , 24 1,908,317 2,277,259 650.335 745.807 Net from railroad.._ _ -2.555.145 1.237.756 =5.-502.111 1.379.91-7 180-316 207,041 86726--71r,V6 372,386' =38:6611 -Taxes 454.630 243.577 1 304.836 24,279 984.954 26.742 72.839 80,226 22.184 20,011 70.582 60,033 'Uncollectible revenue_ 7.687 5 3,725 18.846 12,791 56 83 207 828 1.167 1,118 Net after taxes. &c_ 2.092.848 60,409 990,453 4,178,429 43.875 382,172 116.765 126.73 57,717 -35.690 300,637 -99,814 77-,-356 1,829.583 . Net after rents 528,00o 3.270.634 -966.534 32.11W 84,00F 89-,777 187684 -1 01 -, -I1 i 18618 -224,657 Aver. miles of r'd oper 6.971 382 6.971 6.971 382 6,971 382 382 507 475 507 475 Alabama Great Southern Atlantic Steamship Lines Spokane International -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.31-Month of March- -Jan. 1 to Mar. 31EARNINGS. 1922. 1922. 1921. 1922. 1921. 1922. 1921. 1921. 1922. 1921. 1922. 1921. $ $ S $ $ $ $ $ .Preight revenue 645.250 899,343 582.985 1,658.038 1.806.672 872.797 2,600.536 2,356.463 87.362 82.865 233,256 241,323 Passenger revenue_ _ 62,3 "6 • -3,565 126,674 162,067 376.524 512.057 161.962 202.511 10.953 16.409 28,669 51,539 Tot.,incl. other rev. 809.539 790,759 2,138,939 2.474,788 1.018,549 1,042,084 2,906.863 2,715,53.3 102.133 101,184 2:1.099 304,852 ••Expenses-Maint.way 13,634 84.664 246.359 116.231 394.945 11,821 34,520 40,568 12.006 22,304 30.071 50,078 Maint. of equiprn't. 12.5.655 204.766 143.361 411.641 572.915 192,348 414,646 506,245 8,228 8.076 22.283 24,464 Traffic expenses_ _. 21,953 17.595 16.491 59.842 63.469 15,687 52,216 48.889 3,328 2.591 9,036 9,891 Transportation exp. 590 738 272.630 856.391 1.232.760 378.043 568.0S 1.689,867 1,890.428 36,899 40,6-4 110,067 116,129 Tot.exp.,Inci.oth / 5,848 _547.821 81 ',4 0 • 2,264,436 2,565.581 747,380 1,665,349 2,35.1,155 66,35 82,194 192,333 221,084 Net from railroad.. _ 2.12,Y0f ---261.718 762 MI. 642,427 43.379 120.633 473.500 149,941 = 35,758 20,000 -Iiii:VX4:3-Tra Taxes 11,893 37.112 24,798 11,523 75,326 94,969 35,6 9 5,499 34,569 7,609 16,445 20,500 Uncollectible revenue_ Cr2 2,363. 1 121 918 5 31 43 Net after taxes. &c.. 224.608 230,808 18,580 193 Oil 376,258 45,166 605,8 0 115,3,-5 30.228 13.381 64.2 8 63,268 Net after rents -235.720 01,-288 193,0517 60090 11 ,28-6 17.096 51.00 389A,-18 23,931 7 -;1-f 42-768 . 46,60 Aver. miles of r'd oper. 318 313 318 313 165 165 165 165 Cincinnati New Orleans & Texas Pacific Galveston Harrisburg & San Antonio Sprticsale Portland dk Seattle -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31- -Month of March-Jan. 1 to Mar.31EARNINGS. 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1921. 1922. 1921. 1922. 1921. S $ s $ $ $ 4 S s $ /freight revenue 1.208.375 1.086,357 3.092.392 3.179.207 1,378,659 1,736,628 3.7:5,740 395,632 5.149.466 396,623 1,102.179 1,092.791 Passenger revenue. _ _ 235,167 304.743 365.264 993.330 797.764 503,501 1.059.129 1.42E544 123.5-4 140.932 348,607 425,481 Tot..incl. other rev 1.500.868 1.503.207 4.067.427 4.453.914 1,855,038 2,375,059 5,140,417 7,044,220 582. 01 685.455 1,601.996 1,661.151 pEx_p_enses-Maint.way 158 134 202.876 323.356 434.035 630.240 406,5 2 ' 958,8-6 1.054.013 64,685 65,310 158.922 229.242 Maint. of equipm't. 372.103 422.557 1.011.570 1.296.986 387.927 478,2.53 1,012,100 1,496,782 79,507 94,691 255,198 294,664 Traffic expenses_ 28.580 21.928 36.363 84.674 85.429 52,200 11 '.542 9,-32 148,886 8,747 26,169 26,237 Transportation exp. 496.533 716.7:33 705.660 1.431.899 2.109.037 913,559 2,081.54:3 2.772.464 191.693 225,337 566,474 687,972 Tot.exp..Incl.0th. 1,107.643 1.408,330 3,116,003 4.290.087 1,542,132 1,952.04 4,426, 1, 5..65.53 3 3,1 4 425,1-0 1,088.514 1.334,142 •Net from railroad.... -393.225 94.877 . 951.424 31034 163.827 4237651 713;76-6. 1,27 ,6 : 209,-527 li30.285 51. .4 2 --327:051 -Taxes 60.034 46.568 168.745 50.250 139.704 42.726 153.291 128.179 84,100 252.300 80.799 242.435 ,Uncollectible revenue_ 27 37 690 796 61 • 314 2.422 2.067 323 371 7,508 7.844 Net after taxes. dm. ____ 333• 64 48t272.. .... 781,989 261,210 24.062 380.015 1,148,43558 0 r 125,104 .71,9 8 _ r, 260,811 76,772 339.889 77 Net after rents .,_-136 771,010 n-8,601 -2,754 421-.014 72,o61 101, 7 t50 ' = " T :9 62 233,079 76--,741 Aver. miles of r'd oper. 338 338 338 1,379 338 1,380 1,379 1,380 549 549 549 . 549 Georgia Southern & Florida Houston & Texas Central Staten Island Rapid -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. Transit 1 to Mar.31EARNINGS. 1922. 1021. 1922. • 1922. 1921. 1921. 1922. 1921. 1922. 1921. 1922. 1921. ‘ $ $ $ $ S $ $ S $ $ ,Freight revenue 275.802 245.673 842,326 766.336 774.851 820,051 2,634.171 2,279.421 12,747 101.712 242.675 257,143 Passenger revenue_ 97.697 295.805 100,676 299,812 295.953 215,342 891.179 649,552 85.547 93.711 243.622 262,279 Tot.. Incl. other rev. 401.780 375.537 1.150.545 1,174.388 1,216.165 1,081,405 3,720,394 3,106.842 205.859 202.844 5:8 038 567,945 Expenses--Mal nt.way 68.406 88.907 213,046 193.193 277.004 348,595 621.9 758,254 31,768 38.461 III, 55 105.619 Maint. of equipm't. 74.277 96.751 202.070 22%693 284.869 175.007 685, '35 560,985 31.196 33.931 108,973 108,687 Traffic expenses... 10.220 9.439 26,999 23.125 26,659 1 ',0 8 69.117 61,48 1.882 1,637 5,384 4.965 Transportation ern 169.272 235.590 512.911 703.191 437,507 446,812 1.354,888 1,352.249 113,348 132.981 331.692 387,106 Tot.exp..inel.oth 338.924 446,877 982.762 1,343.732 942,560 1,020,145 2.850, "5 2,830 628 200 035 214.288 599.532 646,303 Net from railroad _ _ 62.856 ---.71.343 167,783 •-169. 44 2737605 80,611 617260 2 6,211 00 Taxes 18.583 17,091 43,101 43.718 51,273 132.101 43,845 131,534 16:0"0 12 0'0 450r0 36.000 Uncollectihle revenue ri X 318 35 2 4'S 182 1,369 -366 445 3.248 1143 1.101 .590 Net after taxes. Ac 44,1'38 -88,433 .•0 1 '4.314 -•! 229,412 1 -.233 736,t49 144 235 --12,557 --21.2 2 --119,742 -115,549 Net after rents 171741i6 77 11T206 57,554 -285,161 181T860 -=41760 589.1 2 25,934 --277543 Fi:TEN --151,211( Aver. miles of r'd oper. 402 402 402 402 923 923 923 923 23 23. 23 23 EARNINGS. --n1.745 -270-,rie 13 RAILWAY EARNINGS MAY, 1922.] Tennessee Central Union Pacific System Wabash Month of March- -Jan. 1 Co Mar.31Union Pacific 1921. 1922. 1921. 1922. -Month of March- -Jan. 1 to Mar.311921. 1922. 1921. 1922. 6,134,315 6,248,082 16,384,177 17,194,960 4,210,486 4376,261 11,253,561 11,007,983811,250 1.951,052 2,431.921 679,613 1,298,882 1,563,261 3,578,602 4,582.710 8,151,149 8,540.353 21,921,436 23,982,044 5,163,547 5,189,752 13,998.159 14,337.573810.917 1.774.146 2,028,290 618,821 775,486 1,598,521 2,210,963 565,613 996.650 1.056.988 2,784,751 3,104,955 1,771,901 1,766,511 4,812,379 5,797,105 336,086 346,017 115.044 116,795 398,54/ 355,534 141,864 117,278 2,471,177 2,631,574 7,197,931 8.312.100 2,101,136 2,291,607 6,065,802 6,848,251 15,IT89,187 11,493,509 4,487,941 4.011,546 5,3;2,980 5.814,229 15,291,362 18.25.329 5-6 T68388 :65701-.81i 2750406,15 1.152,001 . 2,778,169 2,726,124 6,630,014 422,640 565.669 149.452 188.557 526,124 1,702,170 1,662,840 568,136 363 2,732 2.233 89 218 842 189 37 945.383 552,270 1,936,249 961,211 2,209,996 2,199.811 4,927.062 4.043.65' 3487281 386.803 1,16f.79(f 690,505 2,18 ,r-7,--ff) 2,0 ,5 5 4,803,69() 3,631,841 2,472' 2,472 2,472 2,472 3,614 3,665 3.614 3,665 Western Maryland Line Oregon Short St Louis of Assoc'n RR Terminal of March- -Jan. 1 to Mar.31Terminal Railroad Association of St Louis -Month of March- -Jan. 1 to Mar. 31- -Month 1921. 1922. 1921. 1922. 1921. 1921, 1922. 1922. -Month of March- -Jan. 1 to Mar.31EARNINGS. $ $ $ $ $ $ S $ 1921. 1922. 1921. 1922. 5,751,531 1,329.721 1,293,598 3.952,414 4,136,641 6,559,012 2,106,400 2;522,159 Freight revenue 285.224 215.210 96.486 70.328 1.518.075 1,169,551 516,660 424.830 Passenger revenue...1,495.103 4,485,522 4,697.208381,450 1,160,800 1,124,370 3,148,054 2,864,613 8,299,554 7,947,998 1,503.216 406,869 Tot..Incl. other rev. 568,965585,748 161,048 183.882 865,456 1,269,812 372,629 310,385 258,191 199.610 86,027 73,144 Expenses-Maint.way 908,754 1.260.731 397.973 338.957 1,788,582 523,919 1,620,389 593,732 115,021 113.881 39,293 43,315 80,292 Maint. of equipm't_ 91,782 28.038 31.198 141,191 133,064 56,260 45,715 2,865 949 3,052 1,032 Traffic expenses_ 596,040 1,589,644 1.928,869 528.399 974,460 2,755,351 2,962,001 958,955 454,360 389,195 140,960 136,354 Transportation exp_ 4.070,845 3.374,831 1,259,626 1,147,493 6.729.539 5,876.4-0 867,871 2,0;9,689 2,110,400 280,326 737,750 264,616 Tot.exp.,Incl.oth. 626,34 235.477 1,110,69T 355.7232,423798T 1,216,459 714,213 256,409 1,0687765423,050 101,124 142,253 Net from railroad.180,000 150.000 50.000 50.000 842,355 822,775 262,704 274,259 128,791 55,343 166,028 42,930 Taxes 134 4,077 2,254 60 296 53 229 Uncollectible revenue_ 446,363960.691 185,477 305,723 375.970 491,509 1,596,232 791,872 127,648 58,141 256,726 86,681 Net after taxes, &c.. 788,476 71CF,W 251,453 255,916 293,086 9 1,520.105 770.8-1-6 456,56468,81g ' 170,538 6627314 21)040 797 Net after rents 804 797 804 2,359 2,359 2,359 2,359 37 37 37 37 Aver. miles of r'd open Pacific & Western Navigation RR Oregon-Washington Terminal St Louis Merchants Bridge Month of March- -Jan. 1 to Mar.31121 1. of March-2L1 to Mgq1--Month of March- -Jan. 1 to Mar. 31- -Month 1921. 1922. 1921. 1922. 1921. 1921. 1922. 1922. EARNINGS. $ $ $ $ $ $ $ 3 $ $ $ 667.395 1,810.787 2,011,995 ' 4,357,106 589,159 4,507,555 1,641,909 1,615,677 536,728 Freight revenue 353.558 211.638 144.697 1,528.364 426,764 522.913 1.194,368 Passenger revenue.... 940,112 2,312,326 2,706.193 784.589 884,39i 2,232,138 2,368,717 6,214,900 6,429,083 309,129 292,986 985,055 Tot.,Incl. other rev. 399.175 357.632 152,296 132,395 494,410 393,779 973,768 1,449,307 166,379 38,428 119.444 53,948 nt.way Expenses-Mai 585,028 473,604 200.163 1,335.930 161,176 445,383 334,284 1,217,376 113,366 35,998 29,937 70,278 Maint of equipm't_ 91,651 88,178 32.104 31,220 179,976 174,557 65,906 61.651 2,799 935 911 2,772 Traffic expenses.-1,049,856 1,173,721 380,720 3.102,432 353.639 973,625 1,021,283 2,892,498 564,712 158,782 453,738 176,247 Transportation exp.. 2,435,393 2.140,949 826,935 734,462 868,933 2,025,888 2,097,360 5,05,760 6.586,026 660,958 274,480 233,071 Tot.exp..inchoth. 270706 171.377 113.177 50,127 206,250 m7Y7T7E7 569,140 -156,94. 17Z-4-64 136,0:56 324,097 18,506 Net from railroad_ _ 205.794 258.363 69.206 543,786 86.123 181,478 544,035 181,361 38,447 47,500 12,916 15,833 Taxes 341 191 41 104 131 Cr130 Cr12 194 96 274 19 57 UncollectIble revenue_ 64,665 43.930 -87.177 24,910 89,900 -34.883 --700.860 -36,100 276,323 -23,17" 5,671 120,168 Net after taxes, &c_ - -73 . 269-,6 - -,202 =5 99,154 --77544 -945063 -13,048 -2,9'7i=26 17178g 17 332,549 . 1971511 137-;334 Net after rents 1,011 1,042 1,011 1,042 2,223 2,218 2,218 9 2,223 9 9 9 Aver. miles ofr'd oper. St Joseph & Grand Island Western Ry of Alabama Texas & Pacific -Jan. 1 to Mar. 31-Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.31- -Month of March1921. 1922. 1921. 1922. 1922. 1921. 1922. 1921. 1921. 1922. 1922. 1921. EARNINGS. $ $ $ $ $ $ .§6,321 5,02,886 6,5-s0,881 306,589' 309.497 107.633 114,236 624,028 215,861 ' 638,051 21,3,249 2,1 7,500 4 1,71 Freight revenue 229,25.1 174,571 73.530 60,670 97.064 73,180 27.249 29.153 2,357,803 783,482 1,684,659 550.592 Passenger revenue_ 595,401 544,096 206.916 201.085 759,977 218,9,0 749,776 256,628 Tot.,incl. other rev. 2,460,587 3,151,016 7,272.005 9,608,250 88.205 75.703 29.065 27,607 95,762 27,670 83,136 25.:1110 575,051 1,312,194 1,566,296 490.576 173,018. Expenses-Maint.way 142.853 59,286 49.275 156,904 47,746 135,648 45,543 825.126 L,570,786 2,196,050 549,748 Maint. of equipm't_ 22,67925.840 7.119 10,611 7,568 2,752 8,144 172,983 2,555 139,467 63,543 47,366 Traffic expenses 249.585 203.587 87,842 70,529 397.865 119,518 348.854 131,316 971,816 1,257,752 2,909,844 4.153,875 Transportation exp. 576.362 488.823 198,817 171,102 707,122 210,233 612,211 219,682 Tot.exp.,incl.oth. 2,161,725 2,865,026 6,255,887 8,486,244 19,039' 55.273 8,69g 29.983 52,855 66-,731 137,565 67941 29-5,990 1,0MT!fir 1,122,006-2187862Net from railroad 26.402 20,175 8,801 6.725 39,372 53,305 17,717 382,848 12,144 127,616 375,000 125,000 Taxes 266 93 1,072 93 265 415 466 222 UncollectIble revenue_ -7.363 35.098 --702 23,258 13,217 84,167 738.08F. 48,927 24,536 167,959 640,652 173,640 Net after takes. &c_ 3ff81=S' 3,881 65,969 -22,449 23,872 302,940 41 39077 -7 11,2 47,885 145,18/ 49K-6714 Net after rents 133 133 133 133 258 258 258 258 1,946 1,952 1,946 1,952 Aver. miles of r'd oper. Erie & Lake Wheeling Utah Toledo St Louis & Western 31-Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 1921. 1922. 1921. 1922. 1921. 1922. 1922. 1921. 1922. 1921. 1921. 1922. EARNINGS. $ $ $ : $ $ $ $ $ $ $ $ 840,392 2,959.293 2,403,217 318,971 1,171,065 788,028 377,444 133,476 108,820 662,957 2,134,614 1,991,315 Freight revenue 249,462 199.788 87,844 68,703 1.470 2,849 90,588 ' 1,155 . 511 26,823 29,550 73,216 Passenger revenue 990,964 3,3 36,222 2,864,238 1,304,309 323,022 2,177,468 851,164 382,694 135,258 110,541 723,593 2,306,632 Tot.,incl. other rev. 437,902 404,926 157,678 156,908 40,432 327,925 35,433 13,350 113,378 20,809 115,838 261,360 Expenses-Main t.way 773.450 693,541 242,667 272,423 100.790 575,877 133,819 109,530 29,590 42,628 190,745 394,143 Maint of equipm't... 43,111 53,379 13.178 17,612 1.192 61,407 870 26,951 387 21,018 191 67,915 Traffic expenses457,044 1,220,067 1,442.913 428.071 84,146 94,359 878.885 279,346 26.811 26,260 292,609 786,816 Transportation exp.. 2.835.784 918,721 2.487,733 914,336 238,185 252,278 599,607 81,772 86,627 636.875 1,589.486 1,899.658 Tot.exp..Incl.oth. 28,454 848,489' 84.837 -389.973 72.843130,416 -286,810 28,769 48,631 '1,557t 17,146 Net from railroad 227,289 320.889 75,463 132,963 25,289 98,000 19,951 46,000 17,025 6,591 138,000 36,C00 Taxes 216 26 6 123 6 626 Uncx)Ilectible revenue.. 527,384 --198.835 --3,220 256.984 59.548 188,804 205,434 110,465 11,744 42,040 50,712 578,520 Net after taxes, &c_ 432-,06e -261,846 53,586 -230,231 77,021 135486 161,083 7,856 34,403 --634-;: -0 476,6 Net after rents 571 571 511 511 98 454 454 104 98 104 454 454 Aver. miles of r'd oper. -Month of March- -Jan. 1 to Mar.311921. 1922. 1921. 1922. EARNINGS. $ $ $ $ 414,111 413,039 160,494 170,536 Freight revenue 145.163 112,690 47,713 37,477 _ _ revenue_ Passenger 597,08 L 569,008 229,228 226.638 Tot.,incl. other rev. 122,659 93,655 43,229 29,672 Expenses-Maint.way 136,659 104,327 46,355 36,524 Maim. of equipm't_ 13,897 14,605 4,926 4,904 Traffic expenses..346,513 276,457 108,066 106,269 Transportation exp. 653,373 517.394 212,858 187,931 Tot.exp..incl.oth. 51,614 --56,292 W7 TTh Net from railroad_14,970 12,107 5,765 4,093 Taxes 70 348 9 255 17ncollectIble revenue_ -71332 39,159 10,596 34,359 Net after taxes. dm_ 1276-54 --12,718 --12,425 -135,747 Net after rents 292 292 292 292 Aver. miles of r'd oper. 03,4 Ulster & Delaware Vicksburg Shreveport & Pacific Wichita Falls & Northwestern Union RR (of Pennsylvania) Virginian Yazoo & Mississippi Valley -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.311921. 1922. 1921. 1922. 1922. 1921. 1921. 1922. 1922. 1921. 1921. 1922. EARNINGS. $ 33 i $$ i 490.761 275.186 162.356 720,082 93.657 82,080 145,946 561,587 647,735 2247,916 200,872 164,415 Freight revenue 94.640' 62,193 30,354 20,784 18,811 54,142 258,962 • 256,089 82,144 86,446 57,659 21.205 Passenger revenue_ - _ 615,022 363.672 205,228 124.062 1,035,522 268,523 878,747 129.1/2 331.657 309,121 299,435 rev. 115,418 other Tot.,Incl. 81.365 64.749 23.946 26,090 184,878 124,377 16,455 46,314 76,414 42,147 48,609 16,5;0 Expenses-MaInt.way 101,793 69.877 32.868 18.597 271.895 62,367 19,183 172.143 89.964 51.109 61,389 23,014 Maint. of equipm't_ 2.822 4.160 806 30.245 1,344 1,738 6,067 28,101 10.609 9,720 5,431 expenses_ 2,085 Traffic 236,520 161.276 76,646 434.441 55,687 188,173 357.238 61.275 143.767 121,321 65,112 168,648 Transportation exp.. 446,208333.352 140,486 120,911 972.409 106,835 330,964 728,368 338,422 th. 309.116 116.287 239,724 Tot.exp.,Inci.o 168,8T4 64,742 -3032(1 3,15f 63,113 .379 "'7 22,337 150-6.765 :70` 69.397 -===.74751-r --62,441 Net from railroad...... 32,599 36.089 10,867 12.030 40.956 0,002 55,970 16.570 21,175 6,427 18,933 18,026 Taxes 159 890 71 89 483 418 70 357 218 Uncollectible revenue_ 136,056 -6.659 53,804 16,335 21,674 -8.968 93,991 47,865 -23,405 -7,296 -27,925 -81.374 Net after taxes, &c89,041 6 "=57,228' 117651 "7:777rNI =177-,213-9. --86,454 73,566 -13,459 -26.032..-34,1841,790 =37,379 Net after rents 328 329 328 329 171 128 128 171 171 171 128 128 Aver, miles ofr'd oper. -Month of March-- -Jan. 1 to Mar. 31- -Month of March- -Jan. 1 to Mar.31- -Month of March- -Jan. 1 to Mar.311921. 1922. 1921. 1922. 1922. 1921. 1922. 1921. 1921. 1922. 1921. 1922. EARNINGS. $ $ $ $ $ $ $ $ 5,577 3,90 3,174,819 1,212.065 1,081 1,23 3,504,822 4,406,629 1,022,352 1,754,148 Freight revenue 931,425 1,121,166 349,308 298.097 228.698 182,717 74,484 63,940 Passenger revenue--5,336.317 4,354.703 1,724.123 1,643.834 713.460 4,001.139 789,244 2,020.455 2,692,543 1,937,194 1,177.607 4,889,487 Tot.,Incl. other rev. 948,921 929.205 346,682 308.049 60,689 569,183 524.926 181,318 72,558 168,477 189.980 Expenses-Maint.way 156,073 856,331 1.000.226 365,538 306.808 198,201 682,190 270,607 298,649 1,202,934 1,015.841 509.731 520,876 Maint. of equipm't_ 81,847 76.528 26,943 23.741 31.238 269 371 35.605 874 9.780 11,074 627 Traffic expenses.... 801,571 1,900,843 2.476,006 647.521 330,243 454,884 392,981 1,084.463 1,385,909 391.010 949,381 1,538,740 Transportation exp_ 1.338.316 1,598 646 3,898,211 4.694,458 596,204 805,311 1,647,933 2,428,230 1,133,489 902,544 2,941,739 3,105,379 Tot.exp..incloth. 641,859 456,-492 305,518 Th5,477 "1.760 .117,254 -17,067 -371,522 ' 275,063 1,947,741 803,70-5 Net from railroad...N4,31.1 315,989 355,330 105,330 118,444 283,923 13,000 293,375 10,666 31,998 94,641 90,316 Taxes 39,000 362 244 61 291 18 59 16 10 Uncollectible revenue.. 325,508 100,918 19.858 187,013 611,819 1,654,314 104,256 -27,733 180,406 232,315 707,379 Netafter taxes, Ac. 315,035 - -6' ,-94g'..----K44 1807050 ''.=..11) 7317427 --1-67;g1a --WM' 356,534 204,980 1769642-i 722,923 Netafter rents 1,381 1.381 1,381 526 1 45 1,381 526 45 526 526 45 45 Aver. miles of r'd oper. 14 [VOL. 114. RAILWAY EARNINGS COMPANY RETURNS All the figures in the foregoing pages are transcripts of the monthly returns as filed With the Inter-State Commerce Commission at Washington. A few railroad companies also issue monthly statements of their own, and sometimes these company state. ments go beyond the requirements of the Commission and give added items of information. Besides this, a number of companies -notably the Pennsylvania Railroad-issue consolidated statements, showing results for the system as a whole, whereas the Commerce Commission requires returns from each constituent road separately. It is our purpose that each issue of the "Railway Earnings Section" shall furnish an absolutely complete record of all monthly returns, in whatever form issued, that may be put out by any steam railroad in the United States. Accordingly, we bring together here all the company statements where they differ in any way from the returns to the Commission, or where they embrace more facts than are contained in such returns. It should be distinctly understood that where the company statements are identical with those rendered to the Commerce Commission, and do not include any additional items, we do not undertake to repeat them here. In such cases the reader must look for the figures among the detailed statements on preceding pages, which include every steam road that is obliged to make monthly returns to the Commission Bellefonte Central Pennsylvania System -Month of March- -Jan. 1 to Mar. 311921. 1922. 1921. 1922. $ RevenuesS . $ $ 42.136,311 35,150,045 106085,626 103923,668 Freight Gross receipts 12,717,003 15,128,852 37,627,356 44,452,215 Passenger Operation Mail 946.130 2,098,671 2,618.241 4,062,549 Net Express 1,129,646 41,415 2,854,151 1,597,592 Interest and taxes All other transportation 915.261 1,261,377 2.866,933 3.066,327 Incidental 1,379,585 2,960,733 4,227,619 6,221,537 Surplus 117,700 133,629 Joint facility-Credit 41,553 34,965 47,738 Joint facility-Debit 10,298 64.682 17.038 Railway operating rovenues_-.59,241.863 56,672,353 156333,034 163409.779 Canadian Pacific Expenses-Month of March- -Jan. 1 to Mar. 31- Maintenance of way and structures 5,813,459 6,041,183 14.938,212 18.192,615 14.434,391 15,738,506 40,155,20 49,645,118 Maintenance of equipment 1922. 1921. 1922. 1921. 699,562 1.761,114 1,961,868 Traffic 588,396 21,412,886 25,393,570 62.015,008 80,713,301 Gross earnings 13,847,626 14,705,726 36,489,294 41,940,143 Transportation 844,095 2,334,743 2.552,961 808,043 • Working expenses 11,427.120 12,254.818 32,930,823 38,034,418 Miscellaneous operations General 1,431,018 1,528,068 4,407,735 4,651,369 Net profits 2,420,506 2.450,908 3,558,471 3,905,725 Transp'n 2,679 21,066 1,018 1,119 for investment-CreditRailway operating expenses__-44,487,075 50.243,865 125609,353 157696 178 30,723,681 5,713,611 Net rev, from railway operations14,754,788 6,428,488 Fonda Johnstown & Gloversville Railway tax accruals 1,873,988 1,965,495 4,534,512 4,769,712 -Month of March- -Jan. 1 to Mar. 31- Uncollectible railway revenues 14.163 19,387 4.827 8.211 1922. 1921. 1921. 1922. 939,736 operating income 6,458,166 26.169,782 Railway 12,872,589 Operating IncomeS $ 2,549,608 rents-Net debit 984.289 2,030,008 744,728 47.428 44,198 126,205 106,628 Equipment rreight revenue 59,088 419,578 135.410 31,436 2,638 2,577 7,871 7.781 Joint facility rents-Net debit Passenger revenue-steam division Net railway operating income..-12,096,425 3,338,467 24,080,686-2,029,450 70,282 Passenger rev.-electric division.... 218,412 211,086 72,558 8,543 4,021 4,955 All other rev, from transportation.. 10,240 Rev,from other railway operations • 3.578 895 1,056 2,658 123,070 337,618 Total operating revenues 127,541 365,387 St. Louis Southwestern (Including St Louis Southwestern of Texas) Railway oper. exp.(not incl. taxes) 231,189 76,167 208,142 71,227 Net rev, from railway operations -56 -68 -61 -55 -.-Month of March- -Jan. 1 to Mar. 311922. 1922. 1921. 1921. Railway tax accruals 1011,428 56,314 46,903 151,245 $ $ $ $ Railway operating income 17,325 5,775 5.575 16,725 2,124,895 2.022.636 5.830,364 6,098.371 Miscel. oper. income (or loss)...... 89,703 Operating revenues 50,539 41.328 139,920 1.728,542 1.712.896 4.785,158 5,246.240 Total operating income -2,925 Operating expenses -812. -2,024 -841 852,122 Non-operating income Net revenue 309.740 1,045,206 396,353 86,177 49.697 40,515 131.896 73.207 247,361 95,024 209,921 Gross income 3,031 9,137 8,892 Deduct tax accr. & uncoll. ry. rev_ 3.092 79/.845 236,533 Deduct-Rents for leased roads__ 642.201 Railway operating income 301.328 95.670 43,608 147,034 52.729 183,774 93,711 Other rents accrued-debits___43,926 245,426 2,025 Add non-operating income 675 2,025 675 981.619 Gross income Interest on funded debt 330,245 345,255 887,628 4,537 10,945 3.857 12,821 867,620 Interest on unfunded debt 826.275 291.437 295.742 79,812 Deduct interest, rentals. &c 26,549 26,604 79,647 Miscel. inc. charges (Fed. taxes) 2.591 731 1.945 544 Net income 38,808 49,512 113,998 61,352 Total deductions from gross inc.. 95.375 96.439 31.868 32.305 Net income 20,423 11,739 50.595 295 Southern Pacific -Month of March- -Jan. 1 to Mar. 311922. 1922. 1921. 1921. Illinois Central System 11,222 11,225 11,184 Average miles of road operated...._ 11,184 Revenues$ $ " $ (Including Yazoo'& Mississippi Valley) 38,436,749 .809 Freight 14,092,581 15,11 42.042,335 -Month of March- -Jan. 1 to Mar. 31- Passenger 4,682,984 5,865,313 13,420,230 16,943,337 1922. 1921. 1921. 1922. 894,184 323,028 312,885 Mall 949,984 Average miles operated 6,166 6,181 6,166 6,181 Express 998,615 1,367,615 408,644 569,606 3 3 $ 511.792 1,238.391 1,479,736 other transportation 459,489 Railway operating revenues 13,921,148 13,102,885 39,317,119 40,380,508 ,All 614.677 1,408,530 1,922,003 475,645 4y.op. exp. & uncoil. ry. revs 10,540.344 10,680,784 29,977,044 32,751,717 Incidental Joint facility-Credit 7,291 11.788 30.025 35,172 1,189,583 Taxes 790.144 3.377,489 2,422,827 Joint -3.382 -9.793 -10,310 facility-Debit -2.737 Railway operating Income 2.191.220 1,631,957 5,992.584 5,205.964 Railway operating revenues 90,446,928 23,000.590 56,414,934 64,729,874 Iguip. & joint facility rents net.... 129,397 164,315 162,531 468.062 ExpensesNet railway operating imams 2,320,617 1,896,272 6,155,116 5,673,728 Maintenance of way and structures 2,967,569 3,628,757 8,746.730 9,450,052 Maintenance of equipment 3,796,54l 4,109,731 10,946.288 12,056,582 344,589 1,058,039 1,075,586 355,108 Traffic Transportation 7.446.989 9,158.936 21.74:3,626 27,650,077 The Kansas City Southern 306,620 366,267 895,605 1,120,412 Miscellaneous (Including Texarkana & Fort Smith) General 675,666 719,732 2,019.525 2.114,606 -Month of March- -Jan. 1 to Mar.31- Transp'n for investment-Cr..- -29,195 -29,201 -80,757 -108,773 1922. 1922. 1921. 1921. Railway operating expenses.......15,519,300 18,298,813 45,328.058 63,358,544 IncomeGross revenue 1,728,859 1,808,740 4,788,616 5,585,796 Net rev, from railway operations.... 4,927,627 4,701.776 11,086,876 11,371,330 Operating expenses 1,295,360 1,337,361 3,561,751 4,080,514 Railway tax accruals 1,579,2:33 1,177,219 4,540,002 3,468,218 Net revenues 26,942 433,498 471,379 1,226,865 1,505,282 Uncollectible railway revenues.... 2,803 10,754 17,943 Taxes 110.741 332,224 252,558 Equipment rents (net) 689,488 1,000,818 238,687 319.975 84.186 -8,430 -12.641 -34,606 -363,341 Operating income 322,756 387,192 894.640 1.252,723 Joint facility rent (net) Net railway operating income.- 3,107.:382 3,205,997 5.865,049 6,590.221 Railway operating expenses for August 1920 included back pay account of Labor Board award amounting to $6,029.000. also the amount of reserves set up Missouri Kansas & Texas accounts for that month account of various unaudited liabilities applicable in -Month of March- -Jan. 1 to Mar. 31- to the the guaranty period. 1922. 1922. 1921. 1921. Mlles operated (average) 3,737 3,784 3,737 :3,784 Union Pacific Qperating revenue 4,342,663 5,385,594 11,932.401 15,768,629 -Month of March- -Jan. 1 to Mar. 31Operating expenses 2.884.627 4,387,577 8,699.720 13,185.845 1922. • 1922. 1921. 1921. Net operating revenue 1,458,036 998,017 3,232,681 2,582,784 Average miles of road operated__ 9,389 9,398 9,365 9,365 Taxes accrued 250,150 168,151 618.654 498,977 RevenuesOperating $ • $ $ Operating income 1,207,885 829,886 2,614.027 2,083,806 - Fre gh t revenue 11,318,765 11,124,235 30,3'76,465 30,309,619 Deduct.from income,lea other Inc 103,611 184,221 333.484 532,023 Passenger revenue 2.522,223 3,112,565 7,009,528 9,162,453 Balance 1,104.274 355,285 645.644 .2,280,542 1.551,783 Mail revenue 380.916 1,022,036 1,100,882 814.925 Express revenue 326,728 318.561 877,864 333,993 344,539 959,682 1,025,410 All other transportation 237,389 271,926 657.560 Incidental 846,719 St. Louis-San Francisco Railway operating revenues........15,104,929 15,542,106 40,850,196 43,322,947 (Including Subsidiary Lines) Operating Expenses-Month of March- -Jan. 1 to Mar. 31- Maintenance of way and structures 1,581,586 1,980,615 4,261,686 5,961.320 1922. 1922. Maintenance of equipment 3,191,051 2,967.527 8,704.974 9,981,546 1921. 1921. 314.532 885.122 Mileage 5,165 5,165 271,121 793,714 5,165 5,165 Traffic Transportation $ 4,939.789 5,220.918 14,458,189 16,204,899 $ $ $ Freight revenue 4,893,580 5,142,733 13,452.730 14.616,757 Miscellaneous operations 301.276 257,860 757,229 960,306 Passenger revenue 645,009 1,783,876 1,951,685 1,456,208 1,747,245 4,190,495 5,496,209 General 598,476 Miscellaneous revenues 411,654 357,098 1,316,846 1.481.407 Transport'n for investment-Cr- -7,686 -5,542 -22,191 -18,997 Total operating revenues 6,761,442 7,247,076 18,960,0,1 21,594,373 Railway operating expenses--10,832,197 11,424,335 30,737,477 35,925.881 Maintenance of way and structures 924,223 924,649 2,414,507 2,578,428 Income• Maintenance of equipment 1.341,058 1,465,793 3.698.671 4,187.253 Net rev, from railway operations.... 4,272,732 4,117,861 10,112,719 7,397,066 Transportation expense 1.134,489 1,061.789 3,397,540 3,334,404 2,608,860 3,072,406 7,447.085 9,339,694 Railway tax accruals Miscellaneous expenses 289.299 254.063 4,984 829.781 2.192 917,948 Uncollectible railway revenues...-. 359 783 income 3,136,051 3,055,713 6,710,195 4,061.819 Total operating expenses 5,163,440 5,716,911 14,390,014 17,023,323 Railway operating Equipment rents, net -94,401 ---226,420 ---386,273 -652,767 Taxes, hire of equip . joint facility -70,035 -65.927 --183,588 -205.297 rents (less other income) 333,254 316,821 837,304 1.000,543 Joint facility rent, net Balance available for rentals, sink. 2,971.615 2,763,366 6,140.334 3,203.815 Net funds, fixed charges &c 1,264,748 1,213,344 3,732,723 3.570.507 Oper. ratio (revenues over exp.).,_ 73.51 75.24 71.71 82.93 -Month of March- -Jan. 1 to Mar. 311922. 1921. 1920. 1921. $ II $ $ 21,856 20,949 8.283 6,873 6,256 10.025 19.759 27.181 6,232 2,097 -4,151 2,026 201 360 603 120 1.737 -4.352 -6.835 1,906 NET INCOME UNDER GOVERNMENT CONTROL AS COMPARED WITII ME GUARANTEED RENTAL. From tabulations prepared by the United States Railroad Administration we have compiled the following statement showing for all of the Class 1 roads-that is, all roads whose gross revenues from railway operations exceed $1,000,000 per annum-the Net Federal Income for the calendar years 1919 and 1918, in comparison with the "Standard Return," or Government Guaranteed Rental. The compilation enables any one to see whether during the period of Government control any given road was operated at a loss or profit to the Government and the extent of such loss or profit. It will be observed that only in a few exceptional oases did the Government derive a profit from the operation of the roads. The Standard Return represents the average net income for the three-year "test" period, that is, the three years ending June 30 1917, this being the income which the Government agreed to pay- to the roads as compensation for the use of their property. The 1919 and 1918 figures of Federal Net Income, the Railroad Administration states, have been taken from the monthly returns which the roads are required to file with the Inter-State Commerce Commission and which are given from month to month in this publication. The figures referred to represent only the last item in these returns. Any one desiring the full details for the different roads, including gross revenues, expenses, &c., will find them in the issue of this publication for March 13 1920. Average -Net Federal Income- Standard Return Miles Entire Year 1918. 1919. Eastern Region. of Road. $ New England District1,555,775 607,177 107.731 632 Bangor & Aroostook 4,063,131 2,232,916 1.951.199 394 Boston & Albany 9,832,491 1,895,400 3.577,108 2,376 Boston & Maine 1,468,124 57,768 301 def163 138 Central New England 828,625 536 def87/.205 def689,469 Central Vermont def4,271 172 def786.514def1,105.677 Grand Trunk in New England 2,965,697 def581,781 / ,2 .203 def/ ,216 1 Maine Central 7,769.005 17,173,367 6.929,382 1.966 N.Y. N. It. & Hartford 1,023,883 42.165 415 223,058 Rutland Total Central DistrictAnn Arbor Buffalo Rochester & Pittsb Delaware & Hudson Delaware Lack.& Westerns Detroit & Mackinac Detroit & Toledo Shore lAne_ Erie (incl. Chicago & Erie) Grand Trunk Western LinesLehigh & Hudson River Lehigh & Now England Lehigh Valley ,... Michigan Central Monongahela Now York Central N.Y. Chicago & St. Loulf N. Y. Ontario & Western_ N. Y. Susquehanna & Western (incl. W. B.& E.) Pere Marquette Pittsburgh & Lake Erie Pittsburgh & Shawmut Pittsburgh & West VirginiaUlster & Delaware Wabash 10,227.504 38,901,093 175,013 301 575.137 1,086,378 690 def/.075.870 2.451,695 875 2,054,575 996 11,809,921 15,973.193 382 34,304 def89,696 62 467,806 916.852 2,259 1,036.370 def2,246.652 1,002 203,930 2,309,600 363.664 97 395.718 232 1,197.761 927.354 1.436 6,821.131 3.776.291 1,862 16,969,157 13.692.236 108 650,615 1,041,104 5.682 48.201,701 46,035.695 3,893,167 674 4,048,631 569 576,100 795,047 526 883 3,276,410 7,409,600 15,749,477 310,664 456,612 15,729,068 1,076,017 519,371 1,135,761 11,318,714 8,052,127 583,086 61,739,500 2,218,867 2,103,689 226 def/85,67/ 524,551 2.232 3.851,485 6.717.880 225 9,880,183 3,501.821 103 def177,302 130.435 63 def648,908 def319,631 129 def152,754 def57,775 2.504 864,445 3.714.172 999,942 3,748,196 8,980,219 613,261 237,010 128,009 5,826,810 8.008 22.511 Total c-Ohio-Indiana DistrictChicago Indianapolis & Louis" 657 Cincinnati Indianap & West__ 4g4 Cincinnati Northern Cleve. Gin. Chicago & St. L_ 2.397 456 Detroit Toledo & Ironton 350 Hocking Valley 177 Kanawha & Michigan 903 Lake Erie & Western 436 Toledo & Ohio Central Toledo St. Louis & Western 454 Wheeling & Lake Erie (incl. 537 Lorain & West Virginla) Total 6,941 9.775.418 103,611,503 109,099,456 142,739,083 747,799 415,931 def590,797 8ef158,387 257,750 493.691 12,981,513 14,751,312 def710,545 def717.087 2,614,670 1.444,287 1,658.827 171,233 397,292 def39.034 826.951 def//7.097 1,248.218 760.549 1.192.764 1,723,315 15.909,487 22.820,109 21,809,702 1.099.856 Grand total. Eastern region_37.460 129,290,408 Allegheny Region. Baltimore & Ohio (lncl. Coal 5,152 & Coke) 5.066.914 Bessemer & Lake Erie 226 2.005,600 Buffalo & Susquehanna 297 do(409,326 Central of New Jersey 685 1.408,865 Valley Cumberland 164 447.030 Grand Rapids & Indiana 570 455,093 398 Long Island 2,445,212 N. v., Philadelphia& Norfolk 122 648,692 Pennsylvania East 5,381 8,042,568 Pennsylvania West 1.755 5,786,456 Philadelphia & Reading 1.629 5.431.888 Pittsb. 01n. Chic. & St. Louis 2.384 def2,505.510 24 Staten Island Rapid Transit 68.655 Western Maryland 698 def1.11,205 361 West Jersey & Seashore 11,927 Total Pocahontas Region. Chesapeake & Ohio (Incl. 0.sr O. of Ind) Norfolk & Western VirginianTotal 1,620,259 422,213 317,628 9,938,597 225,895 2,637,167 1,295,141 1,548,542 1,036,651 994,294 7,193,1 31 28,031,146 4,713,664 4,940,006 591,613 113.043 9,352,301 6,375.183 1,228,967 1.848,302 929,385 254,425 3,221,949 3,915,059 996,051 990.008 19,952,680 51,416,782 4.464.444 14,992,786 11,298,842 17,057,230 2,878,717 11,334,094 33.941 356,824 3,079,693 def479,593 do(143.998 952,682 2.506 7,523,378 17,060.6.51 2.088 10,133,638 18,804,782 523 1,952,872 2.555.230 13,266,983 20,634,142 3,247,603 5.117 20,212,246 37,818,305 37,108,728 47,521 Southern Region. Alabama & Vicksburg Alabama Great Southern Atlanta & West Point Atlanta Birm. & Atlantic Atlantic Coast Line Carolina Clinchfield & OhioCentral of Georgia Charleston & Western Caro Cincinnati N. 0. & Tex. Pac_ Florida East Coast Georgia Georgia & Florida Georgia Southern & Florida Gulf & Ship Island Gulf Mobile & Northern Illinois Central Louisville & Na.shville Louisville Henderson & St. L_ Mississippi Central Mobile & Ohio Mashville Chats. & St. Louis_ New Orleans & Northeastern_ New Orleans Great Northern_ Norfolk Southern Northern Alabama Richmond Fred.& Potomac Seaboard Mr Line Southern Southern RR in Mississippi_ Tennessee Central Vicksburg Shrev & Pacific Washington Southern Western of Alabama Yazoo & Mississippi Valley,.,. 78.422.402 92.540,188 148,454,271 .. 322,854 345,074 264,097 141 1,703,180 2,062,786 312 1.498.327 252,995 660.606 539.640 93 480,000 640 def946.458 def573.922 7,213.015 11,685,220 10,180,915 4,867 1,627,963 1,162,282 1.497.762 291 8,408,809 3.917.977 1.583,969 1.918 466,921 549,209 171,233 343 3,541,040 3,092,962 525,956 337 2,842,841 1,633,983 1,444.349 765 858,622 2,256.504 1,326.143 329 88,000 348 6ef44/.538 def104,538 511,457 351,763 62,593 402 595,885 364.779 elef8/.384 306 558,338 200.289 def98,977 438 4.479.526 12,981.324 18,282,374 4,793 5.013 11.884.568 19.568.935 17,310,495 343,915 648.071 510.724 200 308,525 310,921 165 84f/84.90/ 2,597,478 244,315 997 def1,025.3211 3,132,089 4.145,293 1,242,397 1.247 1,204,993 990,248 187,064 204 519,904 407.939 14.593 285 1,266,871 291,453 163.670 906 150,583 192,542 64.343 113 1,136,974 3.025.529 2,763.900 82 5,497,025 3,658,391 1.867,961 3.563 6.983 10.642,549 29.512,206 18,653,893 6,990 84f40,397 def70.887 278 162,734 def2.458 293 def536.168 317,948 342,116 454.510 171 467,230 1.736,088 1.875.153 36 288,238 621.916 569,354 133 3,862,318 4.499.924 4,475.913 1.382 Total38,374 53,937.173 110,740,3245 102,020,391 Southwester Region. 20.514 235 Fort Worth & Rio Grande 1.270,8.55 920 Gulf Coast Lines 2.466,881 _ 1.936 Gulf Colorado & Santa Fe International & Great North_ 1.160 clef/ 404.787 737 def/.244.673 Kansas City Mex. & Or. Sys_ Kane ts City Southern (incl. 2,189.359 862 & F. S.) 302 def/46,634 Louisiana & Arkansas 343,136 389 Midland Valey 365 def664,377 Missouri & North Arkansas 4.562.769 1.714 Missouri Kansas & Texas_ _ Missouri Nan. & Tex of Tex_ 1.796 def2,4/3.445 332 def1,041,628 Missouri Oklahoma & Gulfs 4,363.698 7.205 Missouri Pacific 4.761 14,695.141 St Louis-Ban Francisco 134 def179.720 St. Louis-San Fran. & Texas_ 3,070 880 940 St. Louis Southwestern St. Louis Southwest. of Texas 815 deft.608.721 737 def1.1.41.728 San Antonio & Aransas Pass_ Sunset Lines (Incl. II. & T. C. 9,208,659 3,614 and H. E. & W.T.) 3.621.573 1.947 Texas & Pacific 369 def612,360 Trinity & Brazos Valley Wichita Falls & Northwestern 329 def400,556 Total Grand total all r gions tl(egil?,..I der+ 3,460 1,242,475 1.479.821 41,709,460 39,867,072 3,178,315 1,817.094 2,946,001 1.560.800 25,428,088 def868,05/ 25,089,199 def528,860 588.433 33,390,080 127,640 9,217.002 15,880,681 922,785 769,487 2,481,212 2,868,352 8,319,377 5,492,884 353,290 def961.458 4,145,102 4.945,206 1,891,386 1,824,785 3,414 751 2,791.315 1 338,000 1,485,017 1(1):3171g1 10,723.916 10,204,619 373,811 def48,3/8 def103,787 36,171,354 32,677,799 ,4..w31.L63 34,016.787 it,37 159,740 derf,377 35,629.321 23,670,741 1,900,350 3.575,968 2.604,528 9.067,41. def277,500 14 d2 ,142 7, 77 7 ..81 4. BAYi7 Total.1.973 170.121.574 182,426.498 191,978,682 Total 142,147,069 203,449,878 19,845 28.772.799 63,634,490 148,254,966 Central Western Region. 378 Arizona Eastern Atch. Topeka & Santa Fe ' in Chicago & Alton 1.131 Chicago & Eastern Illinois Chicago Burlington & Quincy 9,621 (incl. Q.0.& K 0.) 247 Chicago Peoria & St. Louts__ _ 8,055 Chicago Rock Isl. & Pacific (incl. C.R.I.& G.) Chicago Terre Haute & S. Its.. 374 L..flli Colorado & Southern Denver & Rio Grande Denver & Salt Lake 1,028 El Paso & Southwestern 454 Fort Worth & Denver City 1.168 Los Angeles & Salt Lake Pacific Northwestern 2.111 Oregon Short Line 259 St. Joseph & Orsnd Island 7.048 Southern Pacific(Pacific Sys.) 3.( 1/1 2 Toledo Peoria & 'Western gjainn Pacific 1,027 Western Pacific Arerage -Net Federal Income- atandar0 Return Miles Entire Yeas 1918. 1919. of Road. $ $ $ Northwestern Region. Chicago & North Western__ 8.090 12.771.197 12.498.939 23,201,014 2,953,450 61.009 1.126,605 1.496 Chicago Great Western 3.933.874 27,945,819 3,250.867 Chicago MILlw & St Paul_ _10.647 4,934,790 2,631.620 2,698,776 1,749 Chicago St. Pau) M.& 0 2,355,241 3,824.718 3.082.978 289 Duluth & Iron Range 5,122,051 411 11.401,721 12,495.342 Duluth Missabe & Northern_ 562,348 267.704 def25.5/7 599 Duluth South Shore & Atlan_ 2,862,171 4,781.037 Elgin Joliet & Eastern 829 3,322,507 Great Northern 8.219 12,827,280 12,368.069 28,666,681 144,008 10,827 101 def107,154 Mineral Range 2,706,994 238,577 1.647 def314,698 Minneapolis & St. Louis 8.925,862 10,578,977 5,057.635 Minn. St. Paul & S. S. Marie_ 4,243 6.593 18,450,790 28.317.433 00,057,76C Northern Pacific 4,491,881 4.490.859 3,224,299 Oregon-Washington RR.& N. 2.070 1,871,083 2.094,420 1.652.116 538 Spokane Portland & Seattle 31.599 35,055.171 def61,994 1,928.596 2.854,270 1,378.645 3ii1892,245 1,301 1,140,678 1,828,218 1,394,945 150,000 3,128.052 86.232 768,580 84f115,861 5,215.538 Slef790,996 111029.612 11.821.976 11,247,194 def117,599 3.681.615 6ef358.255 def128.023 3,535,427 359,361 444,340 175,000 5,853,831 621,773 def33,603 14,206,814 13,690,213 def332,953 3,355,749 535,165 456,684 13.836,811 3,719.146 duf430.218 6ef488.896 8,503,128 4,107,431 63,158 145,248 55,972.636 81,588,468 231,889 515.817,773 685.279.511 892,855,395 9.775.418 10.227.504 $3,901,093 Total New England district__ 8.008 2,8.3 25.1 % of standard return 109,099,456 142,739,083 103.611.503 22.511 Total Central District 76.4 72.6 % of standard return Total Ohio-Indiana District_ 6.941 15.909.487 22.820,109 21,809,701 104.6 72.9 % of standard return 37.480 Total Eastern Region % of standard return 19.845 Total Allegheny Region % of standard return 5.117 Total Pocahontas Itegion % of standard return 38.374 Total Southern Region % of standard return Total Northwestern Region,. 47,521 % of standard return Total Central Western Region51.973 % of standard return Total Southwestern Region_31.599 % of standard return 129.296,408 63.6 28,772,799 19.4 20,212.246 54.5 53.937,173 52.9 78,422.402 52.8 170.121.574 88.6 35.055.171 56.9 142.147.069 69.9 63.634.490 42.9 37.818,305 101.9 110.740,325 108.5 92,540,188 62.3 182.426 498 45.0 203,449,878 148,254,968 37,108,728 102,020,398 148,454,271 191,978,681 55,972.636 61,588,468 90.9 Grand total all regions___231,889 515.817,773 605,279,511 892,855,391 7 s 57.8 % of standard return B LAIR Co. INCORPORATED 24 BROAD STREET NEW YORK Boston Buffalo _ Chicago Cleveland Detroit • Los Andeles Milwaukee Philadelphia Pittsburd Rochester San Francisco St. Louis Scranton Syracuse INVESTMENT SECURITIES Harvey Fisk & Sons INCORPORATED 34 PINE STREET NEW YORK PHILADELPHIA CHICAGO BOSTON GOVERNMENT, MUNICIPAL, PUBLIC UTILITY AND INDUSTRIAL SECURITIES SIMON BORG & CO.. - 46 CEDAR STREET MEMBERS OF NEW YORK STOCK NEW YORK EXCHANGE. Investment Securities. MO-Grade Bonds and Guaranteed Stocks tor Savings Banks, Institutions, Trust Estate* and Individual Investors a Specialty. LIST OF INVESTMENT OFFERINGS SENT ON APPLICATION. A. D. CONVERSE 45‘, CO. PHILADELPHIA COMMERCIAL TRUST BLDG. Information for guidance 1 investors is always dvailable. Cable Address "Adconco" 11. 68 WILLIAM STREET NEW YORK CITY BONDS Government Municipal Public Utility Industrial BALTIMORE GARRETT BLDG. Our Statistical Dept. is at the service of banks, trustees and individuals. Codes: Western Union Diversified list of offerings furnished on application rarttfurciery Reprin Articlet i°nf p Pu lib ilicitc de Lih Pedg icter by Ric hardSp illane its MEN A A REMARK ND BUS INES H By.RIC AR S D SPILL ANE of -the ba ABLE work h a He has nking house of s been done by Philip B analyzed Brooke, Acorn° . St a th Fisher, ok nd the ra e traffic, es & Co Busine one of nifed tio of ., of the ss Editor exact3, States .and br costs. to inco costs of oper Philadelphia. the partners me on fi ation, ought al the valu of l th fty e back of • every bo e details.down or more of th maintenance, • the e nd of thes to the simplest railroada,of th e railro • ' form, ads. • e showing • Mr. Fish • er has a 4iarti be en cu a raitro an outl lar interest ad man • in ine—as given b his Work. He , as'was his fa Cep 1 • y him. re is, a 012 we n outlin ther before hi de m te ; so he e of wh rmin • wh ,• at he bonds. ich would dete ed, if possib did—mer had le, to In • , ely dean of Poi this purp rmine, as far vestigat os a s e th engineer e college of e we went ou possible, the re the railroads ci t s, to la vi to l en tive a the-Univ inder th who had sp ersity o value,of all ra point eciali gineering, w e cl "At fi ose supervision zed in railroad ho recommende f Pennaylvania ilroad d rst we us , si of a me w to the i' o rk. rece ed vari • ous sour mber of our fi We started this ntiy graduated •rm. ces of in force at • formatio work we had railroad 1 n; annual •• mation heed working • report fo • s • based o vem unsatisfac r sonic time w s and other so n latter w different met tory, either be e found that urces of informat • al a h io ca rect eno s the trouble ods of accoun use of inaccu l of these` source n. After ti ugh, we ra wi s ng ci of th es in in the or becaus fo methods r fo e they -w rof accoune of little valu railroads' an rce with vari ere nu ou e for co ting. "W mpdrativ al reports, whi s railroads. Thi one so e threw awa c s e• h, althou purposes y all of urce of gh , owing commerc informat the wor to the di core k io n, w co e mmission verse the swo many m had do In addi onths copyin . We theref rn reports of ne and determ g had in tion, waribtai these reports ore sent a ma the railroads ined to use only to ne same w turn obtained d figures fro by hand, as thn to Washing the interstate m ay t ey • "Us that we did.them all. from II. IL Copela are'not publ on, who spent ished in i nd th n g e inters &•Son, theiinte which detail. ta of te comm rs at time s reachetate comme?c erce co Nest Yorki•WhO worked m e mission commissi tistilsal steadily for fo d eight men in on's the a In cert analysis of'f ur years.. Du nd.ae other reportq as a ba if ti sis, our Into th ain 'particulars ty-one leadin ring this time mes fell as fo rc e, e g a stndy- subject than , notably the railroads, co we completed as four men, a detail any one vering and clas question ed a w si pe e st of ficati riod "I a. kn firm su n 1916 this wo on of all of th ow of had be maintenance, w —of ten -years. fo e pe r ei into go rvising the k,was interrup r bonds, cove re. In additi _went further work -a vernmen on ri ted, du , we comp ng som nd complete t servic e e. Las twelve othe to the fact t e thausatultof iled d it r memb issu t fall hat the "As We . e w m r • e ember of es. s re of ke our th -commen ep the th the ou qu ced this e organization railroad ght that we wi otations and w work, a nd have ent railroad bonds, but'we ll not only yields of all lust be safety, s we have investwill also be ab able to re of these bonds market comm up to igat le to "The h ability, yield ed the ones w pick out fr end the purcha date, it ii eads om al hich se of go and shown od consider of some of th other desira ard the mos l the issues o Importan t attracti f all the e larges ble fact able inte t t or ve re fi s. , of st co na fi , nsiderin nc ce into one and in rs and ial inst g pr permissi of several ho olonged what some instance itutions in Ph ine the on to send the urs. Two No we intended s have asse iladelphia hav mble w Y e to work in he detail." ads of their st ork institut be An interv d .their most ie io atistica l depart ns have w,ritt w of minutes O ONE ments to en except a * our.offi asking for appr pe * ce to exa th • rough eciate fully th rson who has me magnit had ex so well. pe uds•of ,It iq do the, job rience in anal ub tf ul yz that 311r If if . Fisher ing properties riot kn there is anythihe appreciates ca undertoo o k and p n ticularl wn to one in ng so completeits worth. ut y of the dividual statistica who ha and so detailed s l data relating a fair knowle elsewhere•in A mer dg to railro ad secu e of railroads, ica, it is rities. -and'par - N
@FedFRASER