Selected income and balance-sheet items of class I steam railways in the United States - 1937

MISSING IMAGE

Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1937
Series Title:
Statement ;
Physical Description:
v. : ; 28 x 42 cm.
Language:
English
Creator:
United States -- Interstate Commerce Commission. -- Bureau of Statistics
United States -- Interstate Commerce Commission. -- Bureau of Transport Economics and Statistics
Publisher:
U.S. G.P.O.
Place of Publication:
Washington, D.C
Creation Date:
1937
Frequency:
monthly
regular

Subjects

Subjects / Keywords:
Railroads -- Periodicals -- United States   ( lcsh )
Income -- Periodicals -- United States   ( lcsh )
Genre:
serial   ( sobekcm )
federal government publication   ( marcgt )
periodical   ( marcgt )

Notes

Statement of Responsibility:
Interstate Commerce Commission, Bureau of Statistics.
Dates or Sequential Designation:
-Nov. 1956.
Issuing Body:
Vols. for <Jan. 1932>-Apr. 1942 issued by the Bureau of Statistics, U.S. Interstate Commerce Commission; May 1942- issued by the Bureau of Transport Economics and Statistics, U.S. Interstate Commerce Commission.
General Note:
"Compiled from ... reports (Form IBS) representing ... steam railways, including ... switching and terminal companies" (varies).
General Note:
Issues for Feb. 1938- "Switching and terminal companies not included."
General Note:
Description based on: Jan. 1932; title from caption.
Citation/Reference:
Picklist IC1ste34A

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 18021077
lccn - sn 88028523
Classification:
lcc - HE2713 .Un321
ddc - 385.13 fU567s
System ID:
AA00000587:00005

Related Items

Succeeded by:
Selected income and balance-sheet items of class I railroads in the United States

Full Text

tC \ e.534: -. 31

Subject to revision


UNIVERSITY OF FLORIDA

Ill lllllillllllll IIIII ,INTERSTATE COMMERCE COMMISSION
3BUEAU S0ATI851064CS
BUREAU O STATISTICS


Statement No. M-12
JANUARY, 1937


SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES

Compiled from 137 reports (Form nB) repreting 14~3 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLARS


TIT I II IT rl II TT II ii fl i1 Il

60---

40 A__A

to



zo L --i -- -

LL i_ i t i t i t I I I 1 i iL L l I 1


1935


1936


1937


Selected Asset Items


13- Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707) .....
1. Cash ...............,......... .................
Demand loan and deposits .........................
16. Time drafts and deposits ........................
17. Special deposits ................................
18. Loans and bills receivable ........................
19. Traffic and oar-service balances receivable ........
20. Net balance receivable from agents and conductors ..
21. Miscellaneous accounts receivable .................
22. Materials and supplies ............................
2. Interest and dividends receivable ..................
2. Rents receivable ...............................
25. Other current assets ..............................
26. Total current assets (items 14 to 25) .........


For the month of January


1937


1936


4 -


1201,807 2.
47,733 .


Income Items


Net railway operating income ....................
Other income .................... ................
Total income ................................
Miscellaneous deductions from income ..............
Income available for fixed charges ..............
Fixed charges:
6-01. Rent for leased roads .....................
6-02. Interest deductions ......................
6-03. Other deductions .........................
6-4. Total fixed charges ..................
Income after fixed charges ....................
Contingent charges ............................
Net income / ........................... ..


For the


months of
1936


10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes ..............................
12. Dividend appropriations:
12-01. On common stock .........................
12-02. On preferred stock .....................


Selected Liability Items


Balance at end of January


1937


1936


27. Funded debt maturing within 6 months* ............. 168,874,210 P,86,714,366
28. Loans and bills payable# ...................... 21,204,14 510,5 .
29. Traffic and oar-service balances payable .......... 81,17170835 4
30. Audited accounts and wages payable .......... 24296,92 901 5
31. Miscellaneous accounts payable ................... 16,07 98
32. Interest matured unpaid ..........................
3 Dividends matured unpaid ..........................5 9, 913
'. Funded debt matured unpaid ........................ 2 397,;
35. Unmatured dividends declared ............ .........
36. U atured interest accrued ..... ........ ... 103, 1 09
. Unmatured rents accrued .................... ....... 28
. Other current liabilities......................... 19,79,3
39. Total current liabilities (items 28 to 38) ... 1,840,437,410 1,649,285,030


40. Tax liability (Account 771):
40-01. U. S. Government taxes .................
40-02. Other than U. S. Government taxes ........


113,055,990
233,873,7141


I I


128,76,5N7


ANALYSIS OF NET INCOME /

Month of January 1937 Month of January 1936 For the months of 1937 For the months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net Inct at nt diiteficit
Number Number Number Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports report reports reports reports

60 $12,666,268 74 17,4,41 54 $11,895,046 o80 19,676,040 No ouauations No oe tion

SJanuar 197 aet inose inaeluae eaarges in the total amount of 7,472,7 itetmied as follow 1$3,150,244 for taxes under the requirements of the Sooial Security At of 1935,
and 4,322,633 under the requirements of an At approved August 9,, 9 leaving an exie tax upon earr ers sad an Iooe tax upon their employees, and for other purposes.
(Publio No. W0, 74th Oongress). The reported net ineooe for January 196 includes ehrgoe of P1,402,021 for taxes uader the requirements of the Sootal Seourity Aot of 1935.
eludes payments which will become due on aooouat of principal of long-ter debt (other than that in Aooount 764, Funed debt matured unpaid) within six months after lose of
anth of report.
e Includes obligations whioh mature not more than 2 years after date of tissue.
Sxeludes reports of 3 reads whose net income (or deficit) was absorbed by the controlling company.
SDeftlet or other reverse item.


1.'.--7 -.i-----. r


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INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTCS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation
Name of railway For the month of January For the month of January

1937 1936 1937 1936

Alton R. F. .................... ................ $8,29 d 20.87 $3 d60
Atchiaon, Topeka & Santa Fe Ry. System a/ ......... 23,156 d ~ ll6 1,22
Atlantic Coast Line R. R. ........................ 1, l 285 662, 1,64.,65 ,927
Baltimore & Ohio R. R. *.... .............. d 090 27 266,02 2,697
Boston & Maine R. R. .... .....................*.. 71,229 L 203,887 d 282.297
Central of Georgia Ry.*.......................... d 22 272.6 18.668 207.0
Central R. R. of New Jersey ......................... d A 1.52d 3
Chesapeake & Ohio Ry. .........................., 22 620 3,7
Chicago & Eastern Illinois Ry.*.................... d 22.6 d0 2,508 .82
Chicago & North Western Ry. ..... ............... 16 1.2.d 1 21.5,879 d 799
Chicago, Burlington & Quincy R. R. ................ d 1 220,621 226,556 605
Chicago Great Western R. R.**........................ 6 d 18.58 108.979 d 12 2
Chicago, Milwaukee, St. Paul & Pacific R. R.**.... 1 .55d1.05d 885.77 d 605
Chicago, Rook Island & Pacific Ry.t*.............. 3U1 5 d 157 d 1097
Chicago, St. Paul, Minneapolis & Omaha Ry. ......... d 96. d 26609 d .7057 d 21,122
Delaware & Hudson R. R .......... .. .......... d 2 192. 82 36,756 d 97.923
Delaware, Lackawanna & Western R. R ............ ...7 12662 2 6
Denver & Rio Grande Western R. R. ................. d 286.7 d 171.50
Elgin, Joliet & Eastern Ry. ...................... 117#5 lo7 1921 il,374
Erie R. R. (including Chicago & Erie R. R.) ....... 3,4 d 26.2 519,1 61,023
Grand Trunk Western R. R. ......................... d1 111,062 d 158. 198,24
Great Northern Ry. ....**** *..... ..... ............* d 1.10
Illinois Central R. R. ............................. 95I5 dl 368,6
Lehigh Valley R. R. ............................... d d57,586
Long Island R. R. ........,....................... d 172,276
Louisville & Nashville R. R. ...................... 166,88 89,340 534,869 87,621
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... d d 612 8 d 62.8 .
Missouri-Kansas-Texas Lines **................... .... 172
Missouri Pacific R. R.t.......................... d 6051 d
New York Central R. R. b/ ......................... 77vU,7 d J I 002
New York, Chicago & St. Louis R. R. ............... 204,178 137,428 338,876 270,601
New York, New Haven & Hartford R. R.* ............ 2060 590701 7 2 d 7053766
Norfolk & Western Ry. .......... .............. 1215, : 4 2. 222 2
Northern Pacific Ry. ..*..*......... .d...9....... d N 5..2 a a 886 7
Pennsylvania R. R. ................ ..........*.......... ~97,4 3,5 ,2, 3,3299,8
Pere Marquette Ry. .3..L..... .................... d 178,52 63,098 90,779
Pittsburgh & Lake Erie Re. R. ...................... 919s 173 4 ,578 323,
Reading Co. ........ ............................... 1455,97 59,8 ,996 707,1
St. Louis-San Francisco Ry.t .................. ... d100 d 29.502 d L.97 d 601
St. Louis Southwestern Lines*........... ......... d 12 d 4,0 70;99 ,62
Seaboard Air Line Ry.*................. ........... *18688 d 69 1 d c2.02. d 57.71 6
Southern Ry. ................. ................ 6 55 t76 355 6 279.,
Southern Pacific Transportation System a/ ......... 690,330 1d 1.175.5 d 51786
Texas & Pacific Ry. ................ ......... 92,542 3 1 7 19,0i
Union Pacific R. R. ........................... 175,721 24,573 727,337 77 9
Wabash Ry.*.......................................... d 91.809 d 26590 85,0 2 d 60
Yazoo & Mississippi Valley R. R. .................. d U2i0 195 5,86 21 585

Report of receiver or receivers*
** Report of trustee or trustees.
a/ Includes Atehison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry,, and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R. R.
/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated companies, resulted in a net deficit of 2Lt5,266 for January 1937 and
333, 330 for January 1936. These figures are not reflected in this statement.
d Deficit.
1090990 U.L 60VERNMENT PRINTING OFFICE: 1937





C .34:32.


Subject to region


UNIVERSITY OF FLORIDA
S11l 1 I III1 1111 llllll llllllll llllllll ll i llllll
3 1262 088510994 INTERSTATE COMM ARCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
FEBRUARY, 1937


SELECTED INCOME AND BALANCE-SHEET ITEMS OF SS I STEAM RAILWAYS IN THE UNITED STATES

Compiled from 137 reports (Form M) representing 143 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)
. I 11 T


NET INCOME
MILLIONS O DOLLARS


A^A


1935


1936


1937


For the month of February


1937


538,358,633
10,416,6i3
48,775,2u4
1,787,023
46,988,223
10,720,204
40,671'15
238,817
51,650,171
d 4.61.951
1,084,8a2
d 5.,726.783
16,123,993
2,650,230


15,218,445
2,579,704


1936


:, 562,339
o,063,893
43,625,232
1,571,152
42,055,080
10,907,075
41,478,939
221,100
52,607,114
d 1.52.034
d 11.581.866
16,044,496
1,799,767


12,9S,035
2,7u:,025


Income Items


1 1.
2.
3.
4.





9.
10.
11.
112.


Net railway operatingg inhd~ ......................
Other income ........ ....................
Total income .................................
Miscellaneous deductions from income .............
Income available for fixed charges .............
Fixed charges:
6-01. Rent for leased roads ...................
6-02. Interest deductions ......................
6-03. Other deductions ........................
.6-04. Total fixed charges ..................
Income after fixed charges .....................
Contingent charges ..............................
Net income ...............................
Depreciation (Way and structures and Equipment) ...
Federal income taxes ............................
Dividend appropriations:
12-01. On common stock ........................
12-02. On preferred stock .......................


For the two months of


1937


*76,795,314
21,884,396
98,679,710
3,598,108
95,081,602
21,444,038
81,412,494
10 3,2, 863
d 8.240.261
d 10.324.925


17,270,988
3,265,111


1956


$69,290,874
22,079,700
91,370,574
3,o88,267
88,282,307
21,945,709
83, 3;, :
1,02
105,6i,498

d 19.62T855
32,164,120
3,455,459


S16,609,326
3,607,592


Balance at end of February Balance at end of February
Selected Asset Items 196 Selected Liability Items Ba t
19o7 1936 1937 1936
15.'InVsitf8ts in s6kis, "bdd etc., other than those $6840,679,100 ~ 689,421,560 27. Funded debt maturing within 6 months* ............ 201,73Z,813 $229,635,456
of affiliated companies (Total, Account 707) .....
of affiliated ies (Tta, Account 707) 28. Loans and bills payable# .......................... 211,500,739 310,249,650
1 c4. ash ............................................. 516,,14,968e 461,410,583 129. Traffic and car-service balances payable .......... 85,676,4 75,977,5
Demand loans and deposits ......................... 93,189,75 0. Audited accounts and wages payable ................ 260,83 7 221,2,9
Time drafts and deposits ....................... ,92 28,331, 1. Miscellaneous accounts payable .................... 119,34 ,1 72,78,816
17 Special deposits ........................ 161,529,5 72,709,6 3.2. Interest matured unpaid ........................... 552,707, 43,784,401
18. Loans and bills receivable......................... 2, Dividendsmaturedunpaid......................1,959 98
19. Traffic and car-service balances receivable ........ 63,81,89 6 ,6b ,. Fundded debt matured unpaid.................. .. 481,067,86 395,989,903
20. Net balance receivable from agents and conductors .. ,172,019 46,922,108 5. Unmatured dividends declared ..................... 15,227,295 17,296,03
21. Miscellaneous accounts receivable .................. 1.,178,710 137,634,770 36. Unmatured interest accrued ................... 106,972,776 108,054,289
22. Materials and supplies .. ...................... 340.205,563 287,897,984 157 matured rents accrued .......................... 31, 064 2,50,2
25. Interest and dividends-receivable ................ 24,510,122 27,634,83 5. Other current liabilities ................ ... 26,9,654 21,507,5 5
Rents receivable ................................ 1,761,048 2,55,100
25. Other current assets ............................... 6,318,512 5,691,850 39. Total current liabilities (items 28 to 58) ... 1,893,288,093 1,706,989,173
26. Total current assets (items 14 to 25) ......... 1,371,260,034 1,138,958,648 140. Tax liability (Account 771):
S40-01. U. S. Government taxes .........117,445,745 41,964,541
40-02. Other than U. S. Government taxes ........ 131,386,813 128,540,081

ANALYSIS OP NBT INCOME a/

Month of February 1937 Month of February 199 For the two months of 1937 For the two months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a not deficit a net income a net deficit a net income a net deficit
Number Number Number Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports pot reports report rep reporeports

59 $13,695,608 75 $19,422,391 54 $12,278,168 80 $23,860,034 60 $25,468,222 74 $35,793,147 51 $23,538,908 83 342,901,763

0 The net income as reported includes charges of $3,048,791 for February 1937 and $6,198,2-0 for the two months of 1937, and $1,432,809 for February 1936 and $2,841,897 for the two
months of 1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also $4,403,728 for February 1937 and $8,717,365 for the two months of 1937,
and $151,06 for February 1936 and $151,858 for the two months of 1936 under the requi-ements of an Act approved August 29,1935, levying an excise tax upon carriers and an income
tax upon their employees, and for other purposes. (Public No. 400, 74th Congress).
Includes payments which will become due on account of principal of long-term debt (otherthan that in Account 764, Funded debt matured unpaid) within six months after close of month
of report.
# Includes obligations which mature not more than 2 years after date of issue.
Excludes reports of 3 roads whose net income (or deficit) was absorbed by the control company.
Deficit or other reverse items.


_____________~1 _________________________


1- .r*


_ ~


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r


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INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the two months of For the two months of

1937 1936 1937 1936

Alton R. R. ................................. 16,752 24.961 75,3 d 187.2
Atchison, Topeka & Santa Fe Ry. System a/ ......... 68054 d 1.373.776 2,339,284 515,958
Atlantic Coast Line R. R. ........................ 1,929,658 73 202 2,271,668 1,103,170
Baltimore & Ohio R. R ........................... d 803.214 d 50 29 400,989 728,723
Boston & Maine R. R. ............................... 4,770 778.115 350,659 d 504,062
Central of Georgia R ...........................d. 3 2 d 571.42 24.d 4413.410
Central R. R. of New Jersey ....................... 7.37 d 21 43323,481
Chesapeake & Ohio Ry. ...... 0 ... ......T. .357 6901 726 5411,984 8,307,121
Chicago & Eastern Illinois Ry .*....5.............. d 7.31 86.731 210325 d .7
Chicago & North Western Ry? ........................ 0 ta- -49 d 34209 d 2,71147 3 2 4:767
Chicago, Burlington & Quincy R. R. ............ 204,451 421, 86 1,006,01 118 00
Chicago Great Western R. R ................. ...... d 71 29 729
Chicago, Milwaukee, St. Paul & Pacific R. R....... 2.918.900 3.3627 A22 2.69
Chicago, Rock Island & Pacific Ry.*t............... d 2,5 526 d 329 3 21 2-97
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ 8 37 686008 7460 5 d 6.09
Delaware & Hudson R. R ................... .4 70,9
Delaware, Lackawanna & Western R. R. .............. d 3 d 18880 85841 2 7,087
Denver & Rio Grande Western R. R**"................ 4 d 61.71 d .0
Elgin, Joliet & Eastern Ry. ...................197180 1 820 3310
Erie B. R. (-R(ncluding Chicago & Erie R. R..) ...... 6 1 140023 567,550511,122
Grand Trunk Western R. R. .......................... -768 115,1 207 289,221
Great Northern Ry. ......... .................. 2.22.21 771
Illinois Central R. R. ............................. 1 412 69
Lehigh Valley R. R ................................. 193 2133,407
Long Island R. R* ...................... ............ 77:1_ d 374 71.5Ad 1d 3.222
Louisville & Nashville R. R. ...................... 188,126 1,101,353 890,150 1,797,946
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... 1.411.194 d 1.9.9 a 1. 1.
Missouri-Kansas-Texas Lines ......... ...........
Missouri Pacific R. R" .............. ........... 1. 1832.81 d 18 l
New York Central R. R. b/ .......................... 1,8 1092116 ,1,, 898
New York, Chicago & St. Louis R. R............... 511356 254,233 70,110 512,804
New York, New Haven & Hartford R. R.*.............. 47.91.22,926 d 49.894
Norfolk & Western Ry ............. ................. 4,533,18 ,772038 530008 5,518,322
Northern Pacific Ry ..... ... ................. 179395 d 2. 3 ,253 299 1.970 285
Pennsylvania R. R. ................................ 1182,51371 5858957
Pere Marquette Ry. ............................. 30,646 199,659 456B737 624,153
Pittsburgh & Lake Erie R. R. .................... 596,086 475 12 88172 775,713
Reading Co ....................29,71,026 8 1449,79 1,561,138
St. Louis-San Francisco Ry"t......................9 d 1.446'7 96291 90791,0
St. Louis Southwestern Lines"......... ............ d 257.771 d 6 0 1d 59.37
Seaboard Air Line Ry.* ...................... ... d 4 1052 1 1 25 1047,92
Southern Ry. ...................................... 604,060 d 383.8 1 131573 157, 593
Southern Pacific Transportation System C/ ......... 379,136 1 .,67686 d 635,893
Texas & Pacific Ry. ................................ 248,206 99,922 130 29399
Union Pacific R. R. .............................. 29,141 d 5691 1,133,173 999,264
Wabash Ry.*....**M........... B.*...................d* 4d 219.18 413.619 144,454 d 6
Yazoo & Mississippi Valley R. R. .................. d 1 27.952 d 20*17 d 47,779d 177.16


* Report of receiver or receivers.
** Report of trustee or trustees.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhi
Includes Boston & Albany, lessor to New York Central R. R.
:/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of
solely controlled affiliated companies, resulted in a net deficit of $574,177
$709,085 for two months of 1936. These figures are not reflected in this
d Deficit.


109309-0 U.S.GOVERNMENT PRINTING OFFICE:1937

handle & Santa Fe Ry.
all separately operated
for two months of 1937 and
statement.






Ix2l Ite. 34-;cs37


Subject to reviWon


UNIVERSITY OF FLORIDA

3 1262 08851 0655 INTERSTATE COMIERCE COMMISSION

BUREAU OF STATISTICS


Statement No. M-I12
MARCH, 1937


SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES


Compiled from 136 reports (Form IBS) representing 142 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)


1Tx Investments n stg1ksA pond tc. other than those
6 tiftliated companies (Total, Account 707) .....
14. Cash ...............................................
15. Demand loans and deposits .........................
1 Time drafts and deposits ...........................
17. Special deposits ..................................
1 Loans and bills receivable ........................
19. Traffic and car-service balances receivable ........
20. Net balance receivable from agents and conductors ..
21. Miscellaneous accounts receivable ..................
22. Materials and supplies .............................
23. Interest and dividends receivable ..................
. Rents receivable ..................................
25. Other current assets ...............................
26. Total current assets (items 14 to 25) .........


For the month of March


1937


$69,379 328
10,054,911
79,434,239
1,852,426
77,581,813
11,301,138
40,575,865
236,80o
52,113,806
25,468,007
,007,331
24,460,676
16,286,886
4,027,357

1,452,393
744,237


19356


Income Items


.4 I 1


$35,152,477
12,033,251
47,185,728
1,479,491
45,706,237
11,151,320
41,46,916
220,816
52,919,052
d 7,212.815
999,831s
d 8,212.6.46
16,220,723
1,522,338


2,482,588
419,325


1. Net railway operating income ......................
2. Other income ......................................
3. Total income ...................... ........
4. Miscellaneous deductions from income .............
5 Income available for fixed charges ..............
SFixed charges:
6-01. Rent for leased roads .....................
6-02. Interest deductions ......................
6-03 Other deductions .........................
6-4. Total fixed charges ..................
7. Income after fixed charges ......................
SContingent charges ................................
9. Net income $ ......... ..............
10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes ..............................


Dividend appropriations:
12-01. On common stock ..........................
12-02. On preferred stock .......................


12.


For the three months of


1937


$146,174,643
31,939,307
178,113,950
5,50,533
172,663,417
32,745,175
121,973,345
702,150
155,420,670
17,242,747
3,106,995
14,135,752
48,595,745
9,254,399

18,723,381
4,009,648


_______ L 1.


Balance at end of March


1937


$687,622,994


501,29,998
8,651,713
42,9 4,265
205,233,037
11,861,654
73,286,273
56,007,922
16,845,349
361, 450,338
22,963,121
1,788,517
6,580o,478


1,438,907,695


1936


i


$695,722,091


445,817,442
4,691,223
30,281,892
140,93,11
2,596,30
61: 07,374
45,622,851
140,171 947
294,281,811
24,288,836
2,218,461
5,780,722


1,197,732,090


Selected Liability Items


193


$104,443,349
34,112,951
138,556,300
4,567,756
133,988,544
33,097,o03
124,781,224
656,296
158,544,550
d 24.546.006
3,029,495
d 27.' 575,501
48,384,843
4,977,797


Balance at end of March


1937


27. Funded debt maturing within 6 months* ............. $202.315,189


28.
29.
30.
31.
32.


:9.
3j:
35.


Loans and bills payable# .......................
Traffic and car-service balances payable ..........
Audited accounts and wages payable ...............
Miscellaneous accounts payable ....................
Interest matured unpaid ...........................
Dividends matured unpaid ..........................
Funded debt matured unpaid .......................
Unmatured dividends declared ......................
Unmatured interest accrued ........................
Unmatured rents accrued ..........................
Other current liabilities ......................


1936


S$328,027,782


211,168,510 30,318,110
89,753,881 7,211,194
257,755,322 221,647,107
124,079,382 7941,20
580,032,331 456,902;a
12,24,530 13,441,119
487, 88, 8413,922,675
1, 18, 35 1,542,o32
101,979,823 105,585,884
30,231,118 31,166,998
26,714,862 26,647,292


Total current liabilities (items 28 to 58) ... 1,923,896,982


Tax liability (Account 771):
40-01. U. S. Government taxes ..........
.0-02. Other than U. S. Government taxes ..


&


120,516,149
131,824,428


1,733,699,003


44,871,787
134,218,138


ANALYSIS OF NET INCOME a/

Month of March 1937 Month of March 193 6 For the three months of 1937 For the three months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net inoome a net deficit a net income a net deficit
Number Number Number ber Number umbr Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reports reports reports

89 $33,911,477 44 $9,450,801 60 $11,874,544 73 $20,087,190 71 $55,681,529 62 $41,545,777 53 $34,602,616 80 $62,178,117

The net income as reported includes charges of $3,291,834 for March 1937 and $9,490,055 for the three months of 1937, 1,451,574 for March 1936 and $4, 2,923
for the three months of 1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also (4,816,181 for March 1937 and 13,53,546
for the three months of 1937, $3,864,104 for March 1936 and $4,014,832 for the three months of 1936 under the requirements of an Act approved August 29, 1935,
levying an excise tax upon carriers and an income tax upon their employees, and for other purposes. (Public No. 400, 74th Congress).
Includes payments which will become due on account of principal of long-term debt (other than that in Account 764, Funded debt matured unpaid) within six months
after close of month of report.
# Includes obligations which mature not more than 2 years after date of issue.
Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
SDeficit or other reverse items.


Popp- ----


I


---7r-


1


I


- - -

















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation
Name of railway For the three months of For the three months of

1937 1936 1937 1936

Alton R. .. ....................... .........26,285 d 19.694 n14,165 (1338.037
Atchison, Topeka & Santa Fe Ry. System a/ ......... 1,047,07 7.434 '5 ,7 1. 0,13
Atlantic Coast Line R. R. ......................... 2717,604 1 2 ,32, 0 1,930112
Baltimore & Ohio R. R. ............................ 29,419 2.6 1, 77 7
Boston & Maine R. R. ..... ......................... 495,703 l9 9 8 2
Central of Georgia Ry.*, ........................... d 327384 d 8.41 d 131.391 d 49 68
Central R. R. of New Jersey ....................... 7
Chesapeake & Ohio Ry. ................... ........ : 10,41 i 13 4
Chicago & Eastern Illinois Ryp* .................... 102,27d 2 250,624 d 9
Chicago & North Western RyP ............ o ........... d 4.650.93 d 3.410.247
Chicago, Burlington & Quincy R. R. ................. 1,182,611 932,350 2,30,3 2,082,248
Chicago Great Western R. R'.k...................... d 380.824 d d 6
Chicago, Milwaukee, St. Paul & Pacific R. R.d...... d d 272
Chicago, Rock Island & Pacific Ry?.................
Chicago, St. Paul, Minneapolis & Omaha Ry. ........
Delaware & Hudson R. R. ........................... d 70.n6 d 610 196,067 d 222 68
Delaware, Lackawanna & Western R. R ..............536,574 16
Denver & Rio Grande Western R. R.** ................. d 1. 10
Elgin, Joliet & Eastern Ry .......................
Erie R. R. (including Chicago & Erie RR.R.) ...... ,762 d 172167 1,587,702,01
Grand Trunk Western R. R. ......................... 2,54 12,950 258,547 494 6
Great Northern Ry. ............................. d 3.702.275 d 4.128 2.79 86 1 41
Illinois Central R. R. .............................
Lehigh Valley R. R. ................................. dI 'T Od** 202d
Long Island R. R. .......*.... ...*...*..*.......7 d 724,155 o9
Louisville & Nashville R. R. ...................... 1,651,165 1,505,442 2,702,308 2,551,776
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... d 1 281 d 11 d 1639 6 d 1 6061
Missouri-Kansas-Texas Lines ................. ....
Missouri Pacific R. R.*H.............................
New York Central R. R. b/ ..............,......... 5.,295;09 4 3,4
New York, Chicago & St. Louis R. R. ............... 96595 475,122 1,370,537 862,415
New York, New Haven & Hartford R. R.**...........12 2 19,57 8, A 167
Norfolk & Western Ry. ............. .. .........1 9, ,282
Northern Pacific Ry. *.......................... 1 86 d 026 1054876 d 2
Pennsylvania R. R. ............ ................
Pere Marquette Ry ......*.....*................... 585,525 481, 452 1,2214,688 1,116,9
Pittsburgh & Lake Erie R. R. ..................... 1,001,676 656,1 1,42,907 1,107,1
Reading Co. ................................... 2,049 1,28,660 2,826,570 2,039,.1
St. Louis-San Francisco Ry."................. ...... d 2 16 d 2.21 74 d 1 260 d 1.4;.7
St. Louis Southwestern Lines *................... d 22054 12559
Seaboard Air Line Ry* .*........................... 6 d 1157,966 d 1.118. 747
Southern Ry. ......* .......**** .................... ,509 2, 294,M084
Southern Pacific Transportation System C/ ........ 79 1 27528 10
Texas & Pacific Ry. .5..*..*.......... "* 0 *......... 4489 2239 b529S5
Union Pacific R. R. .............................. 1,03,4 1 ,2 2100 2, :878 2,80578
Wabash Ry.* ********.......................................... d 115138 d 5 415,554 d 1
Yasoo & Mississippi Valley R. R. ..................... 7,11 2 199,092

Report of receiver or receivers. 030- 0 LL t&OVEIIMNT "NT I* OrFICE: 1.7
** Report of trustee or trustees.
/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R. R.
/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated companies, resulted in a net deficit of 0749,425 for three months of 1937 and
SD 1,024,726 for three months of 1936. These figures are not reflected in this statement.
d DeAlcit.


B





C \5te .tt: 31 n

Subject to nvtiWon


UNIVERSITY OF FLORIDA

II 1I 111111 I III llll 11 I ll I illl II II i i H I L
3 1262 08851 1000 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
APRIL, 1937


SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES

Compiled from 136 reports.(Form IBS) representing 142 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)


MIIO lhn


NET INCOME
OF DOLLARS


60

40





/0 .--- -- -- ----

1 I I Ii L I L tI I i I 1 I 1 1 1 1


1935


1936


1937


'For the month of April


1937


$47,807, 51
9,945,977
57,753, 28
1,7J5,551
56,0 7,73
11,113,322
40,950,286
236,530
52,300,138
3,717,o35
1,050,500
2,666,735
16,322,146
3,182,234


510,664
906,164


1936


Income Items


I I I


$4l,493,455
11.896,197
53,359,650
1,731,002
51,658,648.
11,31, 76
41,278,879
218,379
52,808,134
d 1.1449.6
1,0 i,00
d 2.19 .586
16,130,231
1,618,094;


1,950,438
882,585


1.
2.
3.


Net railway operating income .....................
Other income .......................................
Total income ..............................


4. Miscellaneous deductions from income ..............
:. Income available for fixed charges ..............
Fixed charges:
6-01. Rent for leased roads .....................
6-02. Interest deductions .......................
6-03. Other deductions ..........................
6-04. Total fixed charges .................
Income after fixed charges ......................
Contingent charges ................................
9. Net income ........ ................
10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes ..............................
12. Dividend appropriations:
12-01. On common stock ..........................
12-02. On preferred stock .......................


For the four
1937


$1 9,9S2,092
1,885,286
235,867,378
7,186,488
228,680,890
43,858,498
162,923,
939,6 8
207,720,510
20,960,080
4,157,595
16,802,485
64,917,891
12,436,633


1i,234,045
4:915,812


months of
1936


P$1 ,936,0o
09,15
191,945,962
6,298,759
185,647,203
44,407,906
166,060,102
874,676
211,542,684
d 21.69r,481
d 29,768.076
64,515,003
6,595,891


21,042,352
4,909,502


Balance at end of April Balance at end of April
Selected Asset Items Selected Liability Items
1937 1936 1937 1936
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. (212,175,725 $347,269,625
of affiliated companies (Total, Account 707) ..... $689.101.395 8690,227,262
28. Loans and bills payable# .......................... 200,174,997 244,870,620
14. Cash ............................................... 68,307,1 445,004,192 29. Traffic and car-service balances payable .......... 81,310,708 74,026,859
15 Demand loans and deposit.......................... 7,909, 5 ,9 30. Audited accounts and wages payable ................ 2,05512 25,862,72
16. Time drafts and deposits ............... ........... 43,113, 60 31,9 9 31. Miscellaneous accounts payable .................... 125,952,738 797,91
17 Special deposits .............. ................ 270,283,710 97,647, 34 2. Interest matured unpaid .......................... 577,63,991 457,715,67
18. Loans and bills receivable ................ ... ...... 9,27,2 2,50,762 Dividends matured unpaid..........................,9 6 2,557,067
19. Traffic and car-service balances receivable ........ 6,53,98 5, ,934 Funded debt matured unpaid .......................... 48,6,4731,25
20. Net balance receivable from agents and conductors .. ,95,97 46,006,540 55. Unmatured dividends declared .................. 1,6 1,900
21. Miscellaneous accounts receivable ................. 14,55,58 146,666, 6. Unmatured interest accrued....................... 10. 9 10,698,13
22. Materials and supplies ............................. 35,70,058 299,266, '6 37. Unmatured rents accrued ..................... 56,378,931 36,9, 3
2. Interest and dividends receivable .................. 1,029,58 25,844,292 3. Other current liabilities ......................... 2,5,998 22,098,732
4. Rents receivable ................................... 1,914,246 2,229,0495
25. Other current assets ............................... 6,928,897 5,805,055 39. Total current liabilities (items 28 to 38) .. 1,897,880,437 1,697,983,896
26. Total current assets (items 14 to 25) ......... 1,462,571,092 1,166,436,452 40. Tax liability (Account.771):
40-01. U. S. Government taxes ................... 128,149,787 51,937,794
40-02. Other than U. S. Government taxes ........ 125,171,745 130,13,524

ANALYSIS 0F 7ET INCOME a/

Month of April 1937 Month of April 1936 For the four months of 1937 For the four months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net income a net deficit a net income a net deficit
Number Number Number Number lumber NumbermberNumber
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reports reports reports

71 $17,531,454 62 $14,864,719 60 $14,964,723 73 $17,157,309 71 $69,682,922 62 $52,880,437 55 $47,036,115 78 $76,804,191

SThe net income as reported includes charges of $3,232,442 for April 1937 and $12,722,497 for the four months of 1937, $1,416,620 for April 1936 and $5,710,665 for the four months of
1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also $4,749,300 for April 1937 and $18,292,846 for the four months of 1937, $3,962,842
for April 1936 and $7,979,624 for the four months of 1936 under the requirements of ana Act approved August 29, 1935, levying an excise tax upon carriers and an income tax upon their
employees, and for other purposes. (Public No. 400, 74th Congress). i
Includes payments which will become due on account of principal of long-term debt (other than that in Account 764, Funded debt matured unpaid) within six months after close of month
of report.
# Includes obligations which mature not more than 2 years after date of issue.
a/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


_ _____ __ _; _/__
I


1



















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the four months of For the four months of

1937 1936 193 7 1936

Alton R. R...................... 0 ................... ...70.984. d 561.452 46,193 d 6452.582
Atchison, Topeka & Santa Fe Ry. System a/ ......... 9,00 d 1.74,1,205 2,031,917
Atlantic Coast Line R. R ........................2,873,504 1147 3,554,71 2,028,922
Baltimore & Ohio R. R. ............................ 83, 854 2418610 2,91,671 44,61
Boston & Maine R. R. .............................. 623,91 2.472,091 1,157,899 d 1.924,198
Central of Georgia Ry.*................ ........... d 31491, d 859.10 129.715 d 602.359
Central R. R. of New Jersey ....................... 4 08 d 1.041.99 4 734 d 29680
Chesapeake & Ohio Ry. ............................. 10,367,605 11,530, 13,110,16o 14, 536
Chicago & Eastern Illinois Ry.................... d 6977 d 372.9 132,07 d 17M 519
Chicago & North Western Ry. ..................... 6.1454 A d 4.4924.6 479
Chicago, Burlington & Quincy RR. ................. 881,66 44,516 2,482,784 1,876,37
Chicago Great Western R. R............... 499.494 d 70.092 d 324.895 55,
Chicago, Milwaukee, St. Paul & Pacific R. R.*...... 554.57 d 3
Chicago, Rock Island & Pacific RyP.*............... 4 d 122,902 d d 4 85 7
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ d 1.272029 d ,id5 1,072,342
Delaware & Hudson R. R. ............................ 171,738 d 8.24 526,978 d 406,264
Delaware, Lackawanna & Western R. R. .............. .44,4 3 d 4b.28 1, 07,084 1444,793
Denver & Rio Grande Western R. R.*................ 2.046.53 1530.137 d 1I.4065 d 1144.508
Elgin, Joliet & Eastern Ry. .....................6.675 513 9 9 ,646
Erie R. R. (including Chicago & Erie R. R.) ....... 985,54 d 122, 2,25 541,17,781
Grand Trunk Western R. R. ......................... 79,154 389,984 419,469 788,289
Great Northern Ry. .............................. 3.557035 4.04b0.902 2.350.41 d 2804.424
Illinois Central R.R. ............................... d 31 d 10962 57,85 1,101,452
Lehigh Valley R. R. ............................... 42. 852879 344,599
Long Island R. R. ............................ 1.18709 d 607196 795955 213,493
Louisville & Nashville R. R ...................... 2,426,286 1,916,559 3,820,996 3,311,009
Missouri-Kansas-Texas Lines ....................... d 4 d 1031.48 d 101 l, d 603 230
Missouri Pacific R. R.**..... .................... d 4459 04 $.6
New York Central R. R. b/ ........................ 6,53,491 11 f 4 352
New York, Chicago & St. Louis R. R. ............... 1,071,754 807,047 1,610,411 1,323,166
New York, New Haven & Hartford R. R ............. d 788305 d3.198.9649,2
Norfolk & Western Ry. ............................. 0,6 5 12,i, 014 11
Northern Pacific Ry. .......... .......... ..... d 2,283 323 d 3, 1,209639 d 2701 88
Pennsylvania R. R. .................................. ..7,427,320 ,315,242 1,599,698 13,430,330
Pere Marquette R 7y. ......*.*..........***........ 896,542 890,766 1,748,795 1,736,450
Pittsburgh & Lake Erie R. R. ........................ ..1,208,4111 989 21 1,782,051 1,588,624
Reading Co. .....................................3, 154 1,80 7 ,07,51 2,872,885
St. Louis-San Francisco Ry.'.................... ... 42 4 d 3 '. 1 7 d7.002
St. Louis Southwestern Lined*.................... A 359,177 17684 7
Seaboard Air Line Ry.* ....................... d 496399 2. .7 1,817 d 1.41
Southern Ry. .............................. ........ 1,736,354 4 18. 2,78,522 894
Southern Pacific Transportation System C/ ......... 15295 1914,4 2501,23 715,15
Texas & Pacific Ry. .................. ...........* ,744 554 -292] 1,134,074 680,980
Union Pacific R. R ..... ..................... ..543,086 1,218:, 64 2,775,023 3,333,895
Wabash Ry 7 ....................................... 279.413 466 40,149 d 44,314
Yasoo & Mississippi Valley R. R. ................. 204,b66 d 31, 368,977 d 217:075


* Report of receiver or receivers. 102-o U.. GOVERNMENTP
* Report of trustee or trustees.
/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R. R.
/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately opera
solely controlled affiliated companies, resulted in a net deficit of $964,983 for four months of
De1, 41,404 for four months of 1936. These figures are not reflected in this statement.
d Defidcj.


RINTING OFFICE:1937


ated
f 1937 and


__~___ /






Subject to revste
Subject to rvisioa


UNIVERSITY OF FLORIDA
II 111111 III III IIll 11 1111 II I T Alllllllllllllll I
3 1262 08851 0846 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES


1935 1936 1937


Compiled from 136 reports (Form IBS) representing 142 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)


For the month of May


1937


$43,662,952
10,820,123
54,483,675
1,604,360
52,879,315
11,023,941
40,648,064
237,735
51,909,740
969,575
1,017,473
d 47,898
16,281,127
2,995,171


16,013,696
3,439,542


1936


$41,797,048
11,416,636
53,213,684
1,533,463
51,680,221
11,315,861
41 442 474
220 ,368
52,978,703
d 1, 9 8
1,00{}
d 2,308U,55
16,169,678
2,362,143


12,870,114
7,819,909


Income Items


+ I-'


1. Net railway operating income .....................
2. Other income o.....................................
3. Total income ................................
4. Miscellaneous deductions from income ............
5 Income available for fixed charges ..............
6 Fixed charges:
6-01. Rent for leased roads ..................
6-02. Interest deductions .......................
6-0. Other deductions ........ .............
6-04. Total fixed charges .................
7. Income after fixed charges ......................
Contingent charges ..............................
9. Net income ..............................
10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes .............................
12. Dividend appropriations:
12-01. On common stock .........................
12-02. On preferred stock .......................


For the five


1937


$237,645,045
52,677,300
290,322,345
8,797,023
281,525,322
54,537,763
203,818,508
1,176,575
259,532,8'.
21,992,476
5,175,068
16,817,408
81,199,021
15,431,804


35,247,741
8,355,354


months of


1936


$187,7 3,851
57, 37,359
245,161,210
7,835,583
237,325,627
5,431,423
207,785,660
1,102,511
264,3 519,594
d 26993.967
d 32:076.535
80,684,681
8,958,035


33,912,466
12,729,411


Balance at end of May Balance at end of May
Selected Asset Items Selected Liability Items 1
1937 1936 ____1937 1936
15. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. $144,215,756 $277,441,218
of affiliated companies (Total, Account 707) ..... .699.876.61 a689.u40.112
o a 28. Loans and bills payable# .......................... 222,804,812 242,420,99
14. Cash ............................................... 466,827,975 437,323,479 29. Traffic and car-service balances payable .......... 80,814316 75,434,836
15. Demand loans and deposits .......................... 10,329,263 3,7769 30. Audited accounts and wages payable ............... 259,158,779 21,284,763
16. Time drafts and deposits ........................... 41,14,370 30,787,2 31. Miscellaneous accounts payable ................... 129,963,348 87,279,834
17. Special deposits ................................... 312,060,823 7,740,545 32. Interest matured unpaid .......................... 578,711,001 458,115,73
18. Loans and bills receivable ........................ 10,627,36 3,378,911 3. Dividends matured unpaid .......................... 1,667,042 2,14,55
19. Traffic and car-service balances receivable ........ 62,328,384 59,452,032 Funded debt matured unpaid........................ 480,29,893 440,31 09
20. Net balance receivable from agents and conductors .. 6,196,802 ,881,539 35. Unmatured dividends declared ..................... 19,77,272 19,79811
21. Miscellaneous accounts receivable .................. 1, ,612 1,661,032 6 matured interest accrued ...... .. ... 120,90,971 119 892,s 4
22. Materials and supplies ............................. 366,0,051 299 ,05 Unatured rents accrued....................... 40,550,228 4,012,116
316 51 : 299,7,06 37 Unmatured rents accrued ............................ .0 :5 228411012,116
2. Interest and dividends receivable ............. 27,630,018 28,695,324 5. Other current liabilities ....................... 26,469,510 21,161,484
SRents receivable .................................... 2029,288 2 11,169
25. Other current assets ............................... 7,199,550 6,033,936 39. Total current liabilities (items 28 to 38) ... 1,961,157,172 1,748,866,471
26. Total current assets (items 14 to 25) ........ 1,510,527,482 1,156,987,025 40. Tax liability (Account 771):
40-01. U. S. Government taxes ................... 135,459,473 59,188,735
40-02. Other than U. S. Government taxes ........ 131,8 ,992 134330,259

ANALYSIS OF NET INCOME a/

Month of May 1937 Month of May 1936 For the five months of 1937 For the five months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net income a net deficit a net income a bet deficit
Number Number Number Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reports reports reports
60 $19,600,148 73 $19,648,046 59 $17,144,793 74 $19,453,248 71 $83,926,480 62 $67,109,072 54 $59,986,529 79 $92,o63,064

0 The net income as reported includes charges of $3,282,724 for May 1937 and $16,045,853 for the five months of 1937, $1,453,272 for May 1936 and $7,163,866 for the five months of
1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also $4,694,911 for May 1937 and $22,991,440 for the five months of 1937, $4,077,191
for May 1936 and $12,057,104 for the five months of 1936 under the requirements of an Act approved August 29, 1935, levying an excise tax upon carriers and an income tax upon
their employees, and for other purposes. (Public No. O00, 74th Congress).
Includes payments which will become due on account of principal of long-term debt (other than that in Aoeount 764, Funded debt matured unpaid) within six months after close of
month of report.
# Includes obligations which mature not more than 2 years after date of issue.
a/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


Statement No. M-125
MAY, 1937


r


I


-r

















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the five months of For the five months of

1937 1936 1957 1936

Alton R. .......................................... d $245.058 d $749 468 d $98,550 d $608.279
Atchison, Topeka & Santa Fe Ry. System a/ ......... 4o00,927 d 295 5,082,970 1,78
Atlantic Coast Line R. R. ......................... 2,650,193 382808 ,500,090 1,719,60
Baltimore & Ohio R. R. ............................ 109,291 d 2.182671 3,119,623 895,299
Boston & Maine R. R. ............................... 564,928 d 691,234,779 d 2,014.175
Central of Georgia Ry.*......................... d 546.270 d 1,10 023 d 2184692108
Central R. R. of New Jersey ...................... d 55, ,4 46 73 4,36
Chesapeake & Ohio Ry. ..... ...................... .. 3,6693 15,016,91 16,497,208
Chicago & Eastern Illinois R .* ............. d 209 52958 41,880 2
Chicago & North Western Ry.* ..................... d 8,090,798 d 8.164,812 d 6.023,786 ,0 ,
Chicago, Burlington & Quincy R. R. ............... d 147.105 49 1 1,56,622 1,41,71
Chicago Great Western R R ........................ d 6412 968 d 42164
Chicago, Milwaukee, St. Paul & Pacific R. R.*t..... d 7. d 5.538 42
Chicago, Rock Island & Pacific Ry.*t ................ d6 5 939 7
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ 1 b649: 7r Ioz :o 5,0
Delaware & Hudson R. R. .......................... 207,779 d 768.939 651,371 d 305954
Delaware, Lackawanna & Western R. R. .............. 578,471 a 41 1630,707 70,314
Denver & Rio Grande Western R. R.*t............... d 2.912.230 2 d 2 628 d 169771
Elgin, Joliet & Eastern Ry. ..................... 819,353 6 ,02 168931 90
Erie R. R. (including Chicago & Erie R. R.) ....... 1,210,608 d 28.171 2,799,105 1,595,432
Grand Trunk Weatern R. R. ......................... 270,726 761,665 695,243 1,249,262
Great Northern Ry. ............................... d 2.287636 d 3.512.112 d 778661 d 1971
Illinois Central R. R. .......................... d 2,1550 d 15 119 46814 59
Lehigh Valley R. R. .............................. d 112466 2,834,363 680,091
Long Island R. R. ................................. d 1 .23b4Q8 < 5d 35E d 775,187 d 57,285
Louisville & Nashville R. R ....................... ,270,437 2,592,121 5,008,642 4,335,266
Minneapolis, St. Paul & Sault Ste. Marie Ry. ....... 2923554 2. 1 d 241000 d 227.02
Missouri-Kansas-Texas Lines .............. ..... d d 7,. 22 d 211,0 7 358
Missouri Pacific R. R.**............................ d 5,79 4
New York Central R. R. b/ ...................... .... 684 14,9,40 6,057,
New York, Chicago & St. Louis R. R................ 1.,140,099 970,017 1,814,672 1,614,643
New York, New Haven & Hartford R. R*.............. d 1.558.708 d 16 d 136 162 d 2, 78,935
Norfolk & Western Ry. .. ............... ......... 1.31 55115,15 13 894,13
Northern Pacific Ry ............................. d 417 d 4 615072 d 1699.07 d 311.252
Pennsylvania R. R .............. .................. 9,675,6 9,388,092
Pere Marquette Ry. ............................... 965,818 1,102,205 2,031,497- 2,158,073
Pittsburgh & Lake Erie R. R. ....................... 1,7 3,349 1,408,998 2,455,670 2,160,937
Reading Co. .......... ........................... 3,464,105 2,429,263 4,755,904 3,760,184
St. Louis-San Francisco Ry?* ....................... d 3.638.2 2 3,5,856 d 2.328.395 d 2.507.564
St. Louis Southwestern Lines* ...................... d 456,871 d 148,489 d 205416 104,524
Seaboard Air Line Ry.* ............................... d 926642 d 2.64295 d 1 495 d 1,864,939
Southern Ry. ..................................... 1,930,201 d 3,8710 1,176,561
Southern Pacific Transportation System c/ ......... d 916.088 2,414,163 1,159,084
Texas & Pacific Ry. ............................... 1,023,582 450,406 1,510,069 936,336
Union Pacific R. R. .................. ..... ..... 350,597 1,010,137 3,142,205 3,659,180
Wabash Ry............................. ........ ... 660,645 228,610 d 114,349
Yazoo & Mississippi Valley R. R. .................. 195,752 d 399,534 d 121,422

Report of receiver or receivers.
Report of trustee or trustees.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SIncludes Boston & Albany, lessor to New York Central R. R.
/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated companies, resulted in a net deficit of $1,312,711 for five months of 1937 and
$1,690,121 for five months of 1936. These figures are not reflected in this statement.
d Deficit.
154719-0 U. S. GOVERNMENT PRINTING OFFICE :1937





) A


I '


UNIVERSITY OF FLORIDA

IIIIIIII III 11111 111 Dll l Il llI IIII I lu III l 1111111I
1262 08851 0853 INTERSTATE COMMERCE COMMISSION

BUREAU OF STATISTICS


Statement No. M-ll2
JUNE, 1937


SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES

Compiled from 136 reports (Form IBS) representing 142 team railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)
I. T I


NET INCOME


1935 1936 1937


For the month of June


1957


$58,939,875
14,974,381
73,914,256
1,477,509
72,436,747
11,850,005
4o,771,160
238,282
52,859,447
19,577,300
1,017,473
18,559,827
16,311,355
3,964,529

10,903,709
1,442,231


1936


Income Items


For the six


1957


months of


1936


I I I I- _


$50,258,673
14,720,025
64,978,698
1,803,119
63,175,579
11,077,932
41,855,717
227,574
53,161,223
10,014,356
1,oo009,973
9,0oo0,383
16,083,162
2,907,512

10,573,902
473,500


1. Net railway operating income .......i............
2. Other income .................... ...............
3. Total income .......... .................0...
4. Miscellaneous deductions from income ............
5. Income available for fixed charges ...... .......
Fixed charges:
6-01. Rent for leased roads ..................
6-02. Interest deductions ......................
6-0: Other deductions ....................
6-04. Total fixed charges ..................
Income after fixed charges ...................
8Contingent charges ................................
9. Net income $ ............. ..............
10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes ...........................
12. Dividend appropriations:
12-01. On common stock .......... ........
12-02.. On preferred stock .....................


$297,J41,775
67,197,394
36 ,989,174
10,358,904
354,630,270
66,387,766
244,53Z149
1,414,857
312,336,772
42,293,98
6,192,541
36,1oo00,957
97,510,340
19,396,333

46,281,554
9,797,585


$238.o016,430
72.143,037
310,159,467
9,713,779
300,oo 5,688
66,509,354
249,585,857
1,5o,0o85
31 7,25,296
d 16.979.608
6,092,541
d 23.072.149
96,767,84
11,865,547


44,486,368
13,202,911


Balance at end of June Balance at end of June
Selected Asset Items Selected Liability Items
1937 1936 ___1937 1936
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. $97,332,220 0138,943,438
of affiliated companies (Total, Account 707) ..... QQ.l4PQ 167.88.7
28. Loans and bills payable# .......................... 811,912,833 244,724,766
14. Cash ............................................... 450,985,039 417,818,772 29. Traffic and car-service balances payable .......... 83,673,210 80,205,531
15. Demand loans and deposits .......................... 8,299,530 3,801,151 30. Audited accounts and wages payable ................ 2 ,718,261 237,4,119
16. Time drafts and deposits ........................... 39,519,222 32,368,706, 51. Miscellaneous accounts payable .................... 1 75,81 7 97,405,979
17. Special deposits ................................. 321,333,25 128,624,505 32. Interest matured unpaid ........................... 621,430,896 48,680,30
18. Loans and bills receivable ......................... 9,51,147 2,726,699 Dividends matured unpaid .......................... 11,220,265 11,409,200
19. Traffic and car-service balances receivable ........ 60,927,996 61,583,895 R Funded debt matured unpaid ........................ 509,350,918 462,312,209
20. Net balance receivable from agents and conductors .. 3,287,186 50,863,234 Unmatured dividends declared .................... 10,33,91 10,763,360
21. Miscellaneous accounts receivable .................. 16,480,737 11,13,99 Unatured interest accrued .................o...9.... 9,141,415 92,299,198
22. Materials and supplies .........*................... 71,557,945 297,505,991 57. Unmatured rents accrued......................... 2,289,169 24,910,228
2. Interest and dividends receivable .................. 24,035,534 28,256,732 3 Other current liabilities ......................... 30,4o06,980 25,746,734
2. Rents receivable ..............................1 0 1,9),006 2,308, 20 3
25. Other current assets ............................... 7,384,557 6,351,28s6 59. Total current liabilities (items 28 to 38) ... 1,999,453,155 1,785,863,654
26. Total current assets (items 14 to 25) ......... 1,495,279,157 1,173,3344,167 40. Tax liability (Account 771):
40-01. U. S. Government taxes ................... 11i,940,609 61,036,781
40-02. Other than U. S. Government taxes ........ 137,288,630 136,05,919

ANALYSIS 0O NET INCOME a/

Month of June 1957 Month of June 1936 For the six months of 1937 For the six months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net income a net deficit a net income a net deficit
Number Number Number Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reports reports reports

68 $29,167,992 65 $1o,608,165 63 $24,309,737 70 $15,305,354; 75 $105,930,756 58 $69,829,799 57 $75,509,978 76 $98,582,127

0 The net income as reported includes charges of $3,306,410 for June 1937 and $19,249,516 for the six months of 1937, $1 461,063 for June 1936 and $8,580,085 for the six months of 1936
on account of accruals for excise taxes levied under the Social Security Act of 1939; also includes a net credit of W$,008,216 for June 1937 and a net charge of $13,940,793 for the
six months of 1937, because of provisions of the "Carriers Taxing Act of 1937', approved June 29, 1937 and repeal of the Act of August 29, 1935, levying an excise tax upon carriers
and an income tax upon their employees, and for other purposes. (Public No. 400, 74th Congress). The net income for June 1936 includes charges of $3,539,192 and for the six months
of 1936 of $15,119,025 under the requirements of an Act approved August 29, 1935, levying an excise tax upon carriers and an income tax upon their employees, and for other purposes.
(Public No. 400, 74th Congress).
Includes payments which will become due on account of principal of long-term debt (ot4er than that in Account 764, Funded debt matured unpaid) within six months after close of month
of report.
# Includes obligations which mature not more than 2 years after date of issue.
SExcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


Subject to revision


---- ---,----ry-r.. ~


11 ~ ~ ~ I .


r


















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the Six months of For the Six months of

1937 1936 1937 1936

Alton R. R. ........................................ d 448,997 9q 87 27.111 d $734.560
Atchison, Topeka & Santa Fe Ry. System a/ ......... 3,262,78 d 669.012 8,893,905 5005,664
Atlantic Coast Line R. R. ........................ 2,12,658 ,141,0 1,6755
Baltimore & Ohio R. R. ............................ 11,756 d 1.981,278 3,621,109 1,713,200
Boston & Maine R. R .............................. 654,707 d 2.757.437 1,459,135 d 1.936.061
Central of Georgia Ry.* ................. ......... 800,308 d 1.35408 d 406.820 d 96.
Central R. R. of New Jersey ...................... d 471700 d 1,701.530 246,531 d 934,79
Chesapeake & Ohio Ry. ............................... ...... 15,66,95 17,903,747 19,790,70 22,115,55
Chicago & Eastern Illinois Ry.* ................... d 393.174 d 654,193 d 89.545 d 357.386
Chicago & North Western Ry........................ 438,33 d 9.092.67 5.957.099 d 6,594,19
Chicago, Burlington & Quincy R. R. ............... 452,639 d 942,194 2,860,038 1,352,895
Chicago Great Western R. R.* ...................... d 7999 d 651 ,59 d 494,976 d 3.039
Chicago, Milwaukee, St. Paul & Pacific R. R. *.... d 7,010,782 d 9,226946 d 4.295.036 d 6.53228
Chicago, Rock Island & Pacific Ry.*................ d 63712 d 8,908308 d 4,346, 68 d 6,76,404
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ d I744,62 d 1,458,671 d 1447,637 d 1,159,7
Delaware & Hudson R. R. .............. ...... 129,720 d 890.793 661,500 d 711
Delaware, Lackawanna & Western R. R. ............... .587,145 3863 1,84,76 82472
Denver & Rio Grande Western R. R.*t................ d8 d 2,891424 2.754.198 d 2.313.196
Elgin, Joliet & Eastern Ry. ....................... 14,34 770,480 1,22,680o
Erie R. R. (including Chicago & Erie R. R.) ....... ,286,233 158,653 3,192,024 2,104,942
Grand Trunk Western R. R. ........................ 171,177 9,26 679,826 1,551,181
Great Northern Ry. ............................... 9,866 d 2.869.03 1,901,93 d 1,026.435
Illinois Central R. R. ............................. 1.61.888. d 2,022598 1,522,706 1,265,627
Lehigh Valley R. R................................. 41669 29,682 713,83 1,180,057
Long Island R. R. .................................. 1,431,655 d 514,082 d 84,211 68,101
Louisville & Nashville R. R. ...................... 3,895,00 3,304,018 5,976,714 5,395,355
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... d6 .211.442.65.97 d 2.599.269
Missouri-Kansas-Texas Lines ..................... 623.55g.44 d 1416 d 826,36
Missouri Pacific R. R. ........................... d5 7 1 d 3.3 20 4 322
New York Central R. R. / 0.......................4 1452,09
New York, Chicago & St. Louis R. R. ............... 1,378,242 1,139,037 2,190,787 1,912,149
New York, New Haven & Hartford R. R.*?............. d 2,101.385 d 4.286.497 d 394.292 d 2.565.492
Norfolk & Western Ry. ..................... .... 16,031,139 14,482,962 18,397,607 16,731,828
Northern Pacific Ry .............................. d 2.497.631 5,177419 d 887308 d 3612.915
Pennsylvania R. R. ................................ 12,700,749 12,274,714 25,077,119 23,105,390
Pere Marquette Ry. ............................... 1,094,647 1,166,983 2,373,830 2,433,060
Pittsburgh & Lake Erie R. R. ...................... 2,200,948 1,852,052 3,078,454 2,734,508
Reading Co. ..................................... 4,327,842 2,914,465 5,878,143 4,540,036
St. Louis-San Francisco Ry.*...... ......... d 3.976.717 d 4.535.093 d 2.4468 d 2.919,90
St. Louis Southwestern Lines ................... d 725232 d 139,27d 424,013 164059
Seaboard Air Line Ry.*......... .................. d 1572.508 d 3372.957 d 611.390 243795
Southern Ry. .............. ..................... 1,722,199 46,103 3,290960 1,669,985
Southern Pacific Transportation System / ......... d 163.04 113912 3,839,896 4,057,820
Texas & Pacific Ry. ............................... 1,266,360 525,752 1,8.9,625 1,109,282
Union Pacific R. R. ............................... 2,192,619 2,976,519 5,544648 6,158,659
Wabash Ry.*............... ...................... d .048,449 d 1.449.021 20,432 d 381,215
Yazoo & Mississippi Valley R. R. .................. 409,054 d 320.752 653,515 d 64,736

Report of receiver or receivers.
** Report of trustee or trustees.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SIncludes Boston & Albany, lessor to New York Central R. R.
:/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated companies, resulted in a net deficit of $1,504,130 for Six months of 1937 and
$1,898,058 for Six months of 1936. These figures are not reflected in this statement.
d Deficit.


154179-0 U. S GOVERNMENT PRINTING OFFICE: 1937


r _





i17C I1.ia334977

Subic* to mIaion


UNIVERSITY OF FLORIDA
SI111111 I111111 | |111lIII illBU111111111111111111
3 1262 08851 0663 INTERSTATE COMN
.. ... ...BUREAU OF


ERCE COMMISSION
STATISTICS


SELECTED INCOME AND BALANCE-SHEET ITEMS OF 1ASS I STEAM RAILWAYS IN THE UNITED STATES

Compiled frm 135 epots (P~ilp' reP mtim 141 stm *ailhways

TOTALS FOR THE UNITE STATES (ALL REGIONS)
..I II .


For the moath of July
9-


1957


$60,560,114
12,884,4537
73,444,551
1,627,146
71,817,405
11,174,481
40,396,512
221,636
51,792,629
20,024,776
1,017,473
19,007,303
16, 39,173
4,265,213

4,099,670
1,126,883


1956


Inoome Items


I i ,


$61,725,951
12 656741
748
1,557,875
72,8,87-
11,118,672
41,052,990

20,: 2158
1,009, 73
19,411,12
16,162,455
2,876,:50

4,204,891
990,060


1. Net railway operating income ....................
2. Other income .......................................
3. Total income .............. ................
4. Miscellaneous deductions from income .............
5. Income available for fixed charges ............
6. Fied chargers
6-01. Rent for leased road ................
6-02. Interest deductions .....................
6-03. Other deductions .....................
6-4. Total fixed charges ..................
SIncom after fixed charges ......................
Contingent charges ................................
9. Net income j ............................*
10. Depreciation (Way and structures and Equipment) ..
11. Federal income taxes ...........................
12. Dividend appropriations:
12-01. On OOmmn stock ............ ............
12-02. On preferred stook .....................


Statement No. M4-12
JULY, 1937


For the seven months of


1957


$357,909,342
80,531,561
458,440,903
11,986,049
426, 454:,854
77,562,248
28-,7 ,8971
1,636,1.93

7,210,014
55,262,128
113,866,156
23,661,546


1936


$29,749,73
.,799,487
844:460
11,271,553
373,277,907
77,628,027
290,492, 15
3692,68198
3,596,079
7,102,514
d 3.506.435
112,926,885
14,742,047


48,690,659
14.192,971


Balance at end of July Balancd at end of July
Selected Asset Items Seloted Liability Items
1937 1956 _1937 1936
15. Investments in,.tocks, bonds, etc., other.than those 27. Funded debt maturing within 6 months ............. $90,114,846 a173,976,045
of affiliated companies (Total, Ao6ount*707) ..... 698.824.76?-' 68.89;g -
S8. Loans and bills payable# .................... 211,079,600 226,783,627
3. Cash ........................................... 446,349, 16 424,481,506 29. Traffto and ear-service balances payable ........ 83,03,636 82,017,680
1. Demand lo nd deposits ....... ............ ...... ,996,626 ,62 0. Audited accounts and wages payable .............. ,935,498 22, ,49
1. Time drafts and deposits .......................... 41,93 362 451,37 51. Miscellaneous accounts payable ................... 10686, 9:, 9
17. Special deposits ............................. 179,9,396 132,004,906 32. Interest matured unpaid ........................... 59 47, 22
Lo and bills receivable ........................ 12,5,260 2, 50,77 3. Dividends matured unpaid ..................... 6,07 28 69225
19. Traffic and car-service balances receivable ........ 59,92086 61,786 5 ended dbt matured unpaid ........................ 480,872,639 444,7,661
20. Net balance receivable from agents and conductors .. 0,0,664 50,189,622 Umatured dividends declared .................... 9,70,12 ,3,821
21. Miscellaneous accounts receivable .................. 2,859,40 10,362,146 5. tatured interest accrued ...................... 05,00,100 10,7 18
22. Materials and supplies ............................. 7 3,8379 295.20.66: 37. Unmatuerd rents accrued ...................... 860 26,9 827
". Interest and dividends receivable .................. 21, 98 2 00322 5 their ourret liitlities ......................... 24 ,129 24,99,535
Rents receivable ......................... ......... 1,7552553 2,49,
25. Other current assets ....... .................... 8,06,971 6,22 4 39. total current liabilities (it 28 to 8) 1,921,441,127 1721,599,18
26. Total current assets (items 1i to 25) ......... 1,353,007,373 1,180,817,055 40. Tax liability (Account 771):
40-01. U. S. Government taxes .................. 110,071,818 64,115,727
40-02. Other than U. S. Government taxes ........ 114,897,869 146,199,737

ANALYSIS OF NET INCOME /

Month of July 1937 Month of July 1936 For the seven months of 1937 For the seven months of 1936
Railways reporting Railways reporting Railways reporting Ra~iwa1s rpcpting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a not income a not deficit a nat inoooe a net deficit
Numbum mber Nube ube Number Number Number Number
of Amount of Amount of Amount f o Amount f Aof Amount p f Amo of Amount
reportsts re ts reports rpoa. repos reports reports reports

71 830,327,960 61 $11,320,657 73 $28,964,667 59 89,553,055 75 $132,675,072 57 $77,412,944 59 $100,013,731 73 f103,520,166

SThe net income as reported includes charges of $3,340,997 tor July 1937 and $22,620,351 for the seven months of 1937, $1,504 .618 for Jply 1936 and 810,091,842 for the qvgn months of
1936 on account of accruals for excise taxes levied under the Sooial Soeurity Act of 1935; also Includes a net credit of 1,280,021 for July 1937 and a not charge of 1,602,591 for
the seven months of 1937, because of provisions of the Carriers Taxing Act of 1937', approved June 29, 17 and repeal o, the Act of Aust 29, 1935, levying an excise tax upon car-
riers and an income tax upon their employees, and for other purposes. (Public Nob 400, 74th Congres). The charges anG credited were not rbaG led In a uniform manner by all the oar-
riers and separate totals are not available. The not inoome for July.1936 Includes. charges of ,803,2 8 R Ad for the seven month of 1936 of O 9,397 ,0l under the requirements of an
Act approved August 29, 1935, levying an excise tax upon carriers and an inooe tam upon.their employees, and for. other purposes. (Public No. 00, 74th. gress).
Includes payments which will become due on account of principal of long-term debt (other than that in A0oountCi764, Funded debt matured unpaid with n six months after close of month of
report.
# Includes obligations which mature not more than 2 years after date of issue.
SExoludes reports of 3 roads whose net income (or deficit) was absorbedby the controlling edopany.
& Deficit or other reverse items.


I


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I


" */


















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the seven months of For the seven months of

1937 1936 1937 ,- 1936

Alton R. .................................................. d 44.997 d 959. d 26.335 d 759.48
Atchison, Topeka & Santa Fe Ry. System a/ ......... -6:i 1,996,05 1 8,16942
Atlantic Coast Line R R ......................... ,1,19 1,423,266 ,29,310 2,664
Baltimore & Ohio R. R. .............0 ......... d 54.77 d 1.820.819 1, ,286 ..2,488 498
Boston & Maine R. R......................... .597.72 d 2.772.3 1,598,366 4 1814:900
Central of Georgia Ry.*.............. .......... d 1.012.883 .472.609 d 553.766 1.023.395
Central R. R. of New Jersey ...................... 72 d 200331 88862 d 1 O11450
Chesapeake & Ohio Ry. ........ ............... 18,8 ,930 21,o,45 3,498 179 25,953,32
Chicago & Eastern Illinois Ryoe...................2 7 77 d 196826 d 72
Chicago & North Western RyP*............... ........ a 1063529 97 34 d 7,163,806 d 6.871916
Chicago, Burlington & Quincy R. R. ................ 1 .39,91 310,878 4,20,62,98 ,239
Chicago Great Western R ................... d 496849 d 48720788
Chicago, Milwaukee, St. Paul & Pacific R. Rfl*.... .* d 10-212 .153 d 5.241.637 d 7.07'1 15
Chicago, Rock Island & Pacific Ry ..................... 4 545 39. 68 d 68<0,534
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... & 2 2 116 d i,495 1.676.131 d 1.4 86
Delaware & Hudson R. R. ........... ........... 898 d 1.072,410 620,782 d 428,246
Delaware, Lackawanna & Western R. R. .............. 65,037 d 6 53.T 1,834.986 904,817
Denver & Rio Grande Western R. R*e.................. d 09.18 d 3.4 0,169 d .2.841.775
Elgin, Joliet & Eastern Ry. ................... 1,9286 67,3 1,815,099 1,92,703
Erie R. R. (including Chicago & Erie R. R.) ....... 1 g9,844 428, 19 3,618,409 72,97067
Grand Trunk Western R. R. ........................ 75595 6 72 684,238 1,335 475
Great Northern Ry ........................... 1, 53 d 1,1.79 3,756, 702 991,942
Illinois Central R. R. ................................ 2 01 611 0 39, 68 1,754153
Lehigh Valley R. R ................................. d 6. 289 89 62,209 1,630,843
Long Island R. R. ............................. d d,-1g d 9.208 77 4,008 230,114
Louisville & Nashville R. R. ..................... 4,464,911 4,0o40o, 434; 6,891,105 6,479,464
Minneapolis, St. Paul & Sault Ste. Marie Ry. .... d 3622.11 d 3 34518 d 2.945.227
Missouri-Kansas-Texas Lines ....................... d 6 866 d .9634
Missouri Pacific R. RH....... ................ d 4,127911 d 6.771709 d 1. 4.0,9
New York Central R R. / ........................ -- 6,74 629 1, 410,557 16,095,965 10,s53,716
New York, Chicago & St. Louis R. R............. 1,510,936 1,3,822 2,461,5 2,285,315
New York, New Haven & Hartford R. R.0%............ 871 d 88d 7 01
Norfolk & Western Ry. ....................... 31 39,1 19,46,533
Northern Pacific Ry. .................. d 2.99.98 d 59.472.0 4 1.112.,110 d 3626.475
Pennsylvania R. R. ............................. .. 15,820r386 16,359,142 30,287,434 29,039,191
Pere Marquette Ry. .............e.... ...... 1,284,874 1,257, 05 2,777,559 2,737,115
Pittsburgh & Lake Erie R. R. ...................... ,704555 2 367,94o 3 046 3 420o,937
Reading Co. ........r .............................. 4 791580 3,07,392 :i 870 5 33
St. Louis-San Francisco Ry.M....... ............. d 3.5 056 d 4.957.793 d 1.71.407 d 3.076
St. Louis Southwestern LineA..................... d ,698984 d 2 177 d21 1,409
Seaboard Air Line Ry.*................. ..d....*** 2..144.4 5 d 4,089 d 1.016.918 d 2.993. 36
Southern Ry. ........................... ........ 1573,179 44,744 3,402,090 -2, Jo
Southern Pacific Transportation System / ./....... 559,74 1,30o,977 5,243,212 5,910 45
Texas & Pacific Ry. ........................ .... 1,511,184 670,167 2,191,367 1,351355
Union Pacific R. R. .........................,,. 3,39,885 4,339,295 735o,932 8,099,547
Wabash Ryd *** *. ........*... ...*. ....... d* d 1,246,144 d 1.525.559 2,325 d 290-,619
Yasoo & Mississippi Valley R R. ....-... .......... 286,207 41 0 570o,19 d1,2

Report of receiver or receivers.
Report of trustee or trustees.
/ Includes Atohison, Topeki & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R. R.
/ Includes Southe$r Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated o pansies, resulted in a net deficit of $1,764,613 for even uontha ef 1937 and
_d De2,6,042f. f Rieven months of 1936. These figures are not reflected in this statement.
154719-0 U.S. OVERMMENT PRINTING OFFICE:1937


*. !


61 ; ;







Subject to revision


UNIVERSITY OF FLORIDA
ItlIIH I llliiui1M1liliHl IllII
3 1262 088510671 INTERSTATE COMMERCE -COMNISION
B--.UREAU OF STATISTICS

SELECTED COME AND BALANCE-SHEET ITEMS OF CLASSIC SIEAIM RAILWAYS IN THE UNITED STATES

Compiled from 135 report (For" IBS) rmntnns 141 Ustnt railways


TOTAL FOR THE UNITED STATES (AiL REGIONS)
Pao the month of August For the eight months of
Income Items
NET INCOME 193 1936 1937 19361
MILLIONS OF DOLLARS
Sr 50,07. 78 (64,6 6,59 1. Net railway operating income ...................... $408,217,20 '364:,36,569
100,W .7758 11 3,067 2. Other income ...................................... 90,979,291 96,142,553
60 60,755,636 75,979,660 3 Total income .................. ........ 499,196,511 460,529,122
1,728,504 1,511,178 4. Miscellaneous deductions from income ............. 13,714,552 12,782,732
40 59,027,132 74,468,482 Income available for fixed charges ............ 485,481,959 447,746,390
-- Fixed charges:
11,049,240 11,080,029 6-01. Rent for leased roads ................... 88,611,488 88,708,055
to A 40,391,518 41,144,706 6-02. Interest deductions ......... ....... 325,175,48 331,636,855
-- 221,593 248,917 6-03. Other deductions .......................... 1,858,058 1,810,5 72
51,662,351 52,47,652 6-04.. Total fixed charges ................ 415,645,034 422,155, 82
S7,364,781 21,99,0 7. Income after fixed charges .................. 69,86,925 25,590,90
0 -- -- ---- 1,017474 1,014974 8. Contingent charges ............................... 8,227,48 8,117,488
f / L 6,347,307 20,979,856 9. Not income ..............................61,609,437 17,473,420
20 -- ----- ----- 16,451,078 16,114,630 10. Depreciation (Way and structures and Equipment) ... 130,317,463 129,041,515
1I .L II I I. I I i i II II lI 1 1 3,871,169 3,056,727 11. Federal income taxes .............................. 27,643,617 17,798,774
1935 936 1937 12. Dividend appropriations:
13,85,452 12,995,649 12-01. On common stock .......................... 67,532,612 61,686,308
2,172,630 3,036,072 12-02..On.preferred stock ....................... 13,097,099 17,229,044
Balance at end of August Balance at end of August
Selected Asset Items Selected Liability Items
1937 1936 1937 1936
13, Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............ $83,837,698 $188,767,479
of affiliated companies (Total, Account 707) ..... 2699794.826 688772-.12'
28. Loans and bills payable# .......................... 210,648,782 220,025,568
Cash ............................................. 430,960,617 443 043,933 29. Traffic and car-service balances payable ........... 79,628,188 78,733,978
1 Demand loans and deposits ........................ 17, 5,110 11,430,155 30. Audited accounts and wages payable ................ 257,916,939 218,080,783
1. Time draft and deposits .......................... 41,50,544 33,126 411 1. Miscellaneous accounts payable .................... 98,298,981 97,245,171
17. Special deposits ...... ....... ................ 155,063,300 169,188,136 2. Interest matured unpaid ........................... 609,02,7.06 493,831,224
Loans and bill reeivable .......................... 13,551,106 1,987,893 3. Dividends matured unpaid ........................ 6,709 6,971,092
19. Traffic and cr-service balances receivable ........ 57,515,696 59,658,025 Funded debt matured unpaid ................. ....... 477,476 ,001 448,018,928
20. Net balance receivable from agents and conductors .. 53,579,154 52,003,770 3 Unmatured dividends declared ..................... 15,890,136 14,497,949
21. Miscellaneous accounts receivable .................. 139,013,012 140, 61,979 3 Unmatured interest accrued ........................ 107,290,914 107,885,336
22. Materials and supplies ............................. 3o,425,708 295,442,131 7 U matured rents accrued ........................... 33,6O,426 33,238,078
25. 'Interest and dividends receivable ................. 22,721,114 27,4o7015 38. Other current liabilities .......................... 22,356,212 23,268,351
Rents receivable ......;............................ 1,977,140 2,394,188
25. Other current assets ....................... ..... 8,472,419 6,360,751 59. Total current liabilities (items 28 to 38) ... 1,918,900,688 1,741,796,458
26. Total current assets (items 14 to 25) ......... 1,322,294,920 1,242,404,387 40. Tax liability (Account 771):
.0-01. U. S. Government taxes ................... 116,016,808 72,374,038
4.0-02. Other than U. S. Government taxes ......,. 153,700,762 157,727,771

ANALYSIS OF IET INCOME a/

Month of August 1937 Month of August 1956 For the eight months of 1937 For the eight months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a ne dic a net deficit a net Income a net deficit
Number Number Number Number umber Number Number Number
of Amount of Amount of Amount of AouptAmount Of, Ammunt of' Amount of Amount of Amount
reports reports reports reports" reports reports i rts reports
61 $21,914,483 71 $15,567,176 79 $29 582,802 53 #8,602,946 70 *151,986,968 62 $90,377,531 61.. 125,330,119 71 $107,856,699

0 The net income as reported includes charges of $3,480,268 for August 1937 and $26,212,720 for the eight months of 1937, $1,519,201 for August 1936 and $11,662,436 for the eight months
of 1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also includes charges and credits resulting in a net charge of $2,640,262 'for August 1937
and $13,050,822 for the eight months of 1937, because of provisions of the "Carriers Taxing Act.of 1937", approved June 29, 1937 and repeal of the Act of August 29, 1935, levying an
excise tax upon carriers and an income tax upon their employees, and for other purposes. (Public No. 1. 00 74th Congress). The charges and credits were not handled in a uniform manner
by all the carriers and separate totals are not available. The net income for August 1936 includes charges of (3,806,654 and for the eight months of 1936 of $23,355 712 under the re-
quirements of an Act approved August 29, 1935, levying an excise tax upon carriers and an income tax upon their employees, and for other purposes. (Public No. 400, 74th Congress).
Includes payments which will become due on account of principal of long-term debt (other than.that in Account 764, Funded debt matured unpaid) within six months after close of month of
report.
# Includes obligations which mature not more than 2 years after date of issue.
Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
SDeficit or other reverse items.


Statement No. M-125
AUGUST, 1937


-- --


.I ~u-~lrr;~uc-~-rUI I-i=-IIP PI-_~I1I-L(I ._._li ._11. .


* ..


I



















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the eight months of For the eight months of

1957 1936 1937 1936

Alton R. RP...................................... d 576.273 d 1.066,82 d 340.159 d 836892
Atchison, Topeka & Santa Fe Ry. System / ......... 6,5,31 299 10,56 3
Atlantic Coast Line R. R. .......................... 2,60,19 1,17,669 4,11,916 254,586
Baltimore & Ohio R. R. ............................ d 3.94 d 860.806 4,690,127 4,065,057
Boston & Maine R. R. ..............................2960 2.591,896 1,556,407 d 1.497.997
Central of Georgia Ry.* ............................ d 1.653.9.5 d 769.60 d 1.139.839
Central R. R. of New Jersey ....................... 7 22 d 122217
Chesapeake & Ohio Ry. .............................. 21, ,91 2 27, 6 0,540,178
Chicago & Eastern Illinois Ry.e*.................... d 3.137 d 62.655 d 2 1 d 368.700
Chicago & North Western Ry.*t....................... 11.4 901 958405 d 83d 6.663,529
Chicago, Burlington & Quincy R. R. .............. 1,753,782 1,029,253 4,970,435 4,086,386
Chicago Great Western R. R.* ...o.................... d 893.35 d 295.094 A 3.16 38,010
Chicago, Milwaukee, St. Paul- & Pacific R. R.**...... 11.11 337 d .77737 d 7.536.176
Chicago, Rock Island & Pacific Ry.* ............. 12 d 10,431,614 d 41244 d .56 6
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ 99 1.383,557 1721 d 985,877
Delaware & Hudson R. R..... .......................... 47 7 1.220.767 358,013 d 486264
Delaware, Lackawanna & Western R. R. ............. d 952,64 1,457,709 827,556
Denver & Rio Grande Western R. R.*................. d 4d 3.896.910 4111 226d 3.127.194
Elgin, Joliet & Eastern Ry. ............77........... 14659 957277 2,057,323 1,55,566
Erie R. R. (including Chicago & Erie R. R.) ....... 1,318,071 575,771 3,859,064 3,166,007
Grand Trunk Weatern R. R. ......... ...............241.33 287,288 43,628 1,040,719
Great Northern Ry. ......................9.........6 777,052 6,06,741 ,226,45
Illinois Central R. ............................ d 2128807 d 2.25114 2,033,536 2,048,047
Lehigh Valley R.R. ............................... d 2 -444,401 529133 1,975 257
Long Island R. R... ................ ............. 1. d 231,985 d 752734 5 44:72
Louisville & Nashville R. R. ...................... 4,927,158 4,895,982 7,700,909 7,683,124
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... d 3.996228 3.94 3.210. d 3128.82
Missouri-Kansas-Texas Lines ....................... d 2350 d 136 66, 511224
Missouri Pacific R. R ........... ........ .. d 6799d066 d 2041 7 d .999.6
New York Central R. R. / ......................... 7,011,298 2,36732 17,705,595 13,165,526
New York, Chicago & St. Louis R. R. ............. 1,851,208 1,733,026 2,941,187 2,762,839
New York, New Haven & Hartford R. R.t............. d .1.82 A 4.937.6 d 1.61.3 d 2.641.947
Norfolk & Western Ry. ............................. 21,018,62 19,633,978 24,202, 85 22,66,012
Northern Pacific Ry. .................. .......... & .877 d 5.172 7 d 724j 3.8.104
Pennsylvania R. ................................18,165,244 20, 111,748 4,7524 4,689,750
Pere Marquette Ry. ............................. 1,324,842 1,264,588 3,029,349 2,954,127
Pittsburgh & Lake Erie R. R. ...................... 3,195,416 2,838,292 4,383,679 4,041,80o
Reading Co. .... ..... ................ ........ 5,00,1402 3,976,918 7,106,524 6,098,392
St. Louis-San Francisco Ry.*t ...................... d 4.42.265 5.2.911 d 2.144.138 d 255439
St. Louis Southwestern Lines*f ................... 658.274 292.83 d 257,900 111,046
Seaboard Air Line Ry. ................................ d 2.873.215 d 4.718.873 d 1578.09 d 3.465.628
Southern Ry. .................................... 1, 32,024 1,011,735 3,412,214 3,175,319
Southern Pacific Transportation System a/ ......... 3,793 2,754,506 5,742,823 7,989,288
Texas & Pacific Ry. ......................g........ 1,617,165 839,376 2,391,707 1,617,630
Union Pacific R. R. ............................ 5,839,941 6,470,094 10,322,065 10,773,745
Wabash R .................... ..........I d 1.82g4.274 d 1.772.595 d 396.01 d 350809
Yazoo & Mississippi Valley R. R. ................. ..264,012 d65 589,650 24 321

Report of receiver or receivers.
** Report of trustee or trustees.
SIncludes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SIncludes Boston & Albany, lessor to New York Central R. R.
/ Includes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated Qapanies, resulted in a net deficit of 2,132,228 for eight- months of 1937 and
$2,280,333 for eight months of 1936. These figures are not reflected in this statement.
d Deficit.
154719-0 U. S. GOVERNMENT PRINTING OFFICE: 1937





-.3, 8 3


Subject to revision


~"LL ~ -~ I me6-I~-~41B~PrC~'iC~~~ap~~ ;?~lr~L111~~I2~*Crrr,


% a .


SELECTED INCOME AND BALANCE-SHEET ITEMS PF CLASS I STEAM RAILWAYS IN THE UNITED STATES

Compiled from 135 reports (Form IBS) repremnting 141 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)
I T


NET INCOME


1935 1936 1937


For the month of September


1936


1937


$59,304,954
11,058,436
70,563,390
1,504,140
68,859,250
11,079,387
40,327,080
225,803
51,632,270
17,226:980
1,017,472
16,209,508
16,566,876
3,0o4,205

5,051,641
1,305,o00


Income Items


For the nine months of


1937


.44 .4


$70,096,165
ll,981,49
82,077,651
2,354,580
79,723,078
10,958,844
41,030,253
234,915
52,224,012
27 499,o66
1,017,470
26,481,594
16,116,349
2,270,115

2,116,636
d 627,


1. Net railway operating income .....................
2. Other income ..................................
3. Total income ................................
4. Miscellaneous deductions from income ..............
. Income available for fixed charges ..............
Fixed charges:
6-01. Rent for leased roads .....................
6-02. Interest deductions .......................
6-03. Other deductions ..........................
6-. Total fixed charges ..................
7. Income after fixed charges .....................
Contingent charges ...............................
9. Net income ...............................
10. Depreciation (Way and structures and Equipment) ..
11. Federal income taxes .............................
12. Dividend appropriations:
12-01. On common stock ..........................
12-02. On preferred stock .......................


$468,449,037
102,014,402
570,463,439
15,218,694
555,244,74
99,690,873
365,502,567
2,083,862
467,207,502
87,967, W
9,24,960
78,722, 8
146,884,341
29,352,776


1936


(434 482,732
10,,124,0B
542,606,778
15,137,311
527,469,467
99,666,899
372,909,108
2,045,47
474,621,
52 8 4,973
9,134,960
43,713,013
145,157,864
20,068,889

63,802,944
17,228,275


Balance at end of September Balance at end of September
Selected Asset Items Selected Liability Items
1937 1936 __1937 1936
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* .............. 74,734,216 $158,852,956
of affiliated companies (Total, Account 707) .... 697.34.188 6.2831
28. Loans and bills payable# .......................... 210,501,064 219,111,734
Cash ............................................... 448,487,803 505, 99,8 29. Traffic and car-service balances payable ......... 81,151,380 80,805,625
1. Demand loans and deposits .......................... 16,975,622 I, ,651 30. Audited accounts and wages payable ................ 259,060,579 231,150,686
1. Time drafts and deposits ......................... 40,782,230 40,66, 23. 31. Miscellaneous accounts payable .................... 102,556,26 106,202,341
17. Special deposits ................................ ... 142,180,679 147,204,:41 32. Interest matured unpaid ........................... 634,072,506 520,496,575
18. Loans and bills receivable ......................... 10,65,709 2,349,257 33. Dividends matured unpaid .......................... 12,988,519 13,015,809
19. Traffic and car-service balances receivable ........ 60,06,079 61,399,53 Funded debt matured unpaid ........................ 476,907,390 474,318,202
20. Net balance receivable from agents and conductors .. 5 91,319 54,999,91 35. Unmatured dividends declared ...................... 2,379,597 1,141,223
21. Miscellaneous accounts receivable .................. 12320,988 1,093,50 36. Unmatured interest accrued ........................ 102,917,8 0 103,2,261
22. Materials and supplies ............................. 383,794,201 295,676,80 37. Unmatured rents accrued ....................... 32,359,645 31,768,727
25. Interest and dividends receivable .................. 23,009,518 27,803,97 58. Other current liabilities ......................... 26,02,058 25,36,309
.Rents receivable ................... .............. 2,193,6 2, 560, 85 .
25. Other current assets ............................... 8,762,855 6,538,0o 39. Total current liabilities (items 28 to 38) ... 1,940,976,875 1,807,123,492
26. Total current assets (items 14 to 25) ......... 1,334,116,449 1,303,651,99, 40. Tax liability (Account 771):
40-01. U. S. Government taxes ................... 113,974,95 77,033,982
i 40-02. Other than U. S. Government taxes ........ 158,I,455 160,538,854

ANALYSIS bF NET INCOME a/

Month of September 1937 Month of September 1936 For the nine months of 1937 For the nine months of 1956
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net. income a net deficit a net income a net deficit
NumberNumber Numbe Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports prt pot reports reports reports

67 $28,201,309 65 $11,991,801 72 $34,962,751 60 $8,481,157 70 $177,399,962 62 $98,677,478 62 $156,822,307 70 $113,109,294


SThe net income as reported includes charges of $3,432,988 for September 1937 and $29,645,7' for the nine months of 1937, 81,449,185 for September 1936 and $13 113,727 for the nine months
of 1936 on account of accruals for excise taxes levied under the Social Security Aot of 35; also includes charges and credits resulting in a net charge of 63,332,544 for September 1937
and $16,227,965 for the nine months of 1937, because of provisions of the "Carriers Taxi Act of 1937, approved June 29, 1937 and repeal of the Act of August 29, 1935, levying an excise
tax upon carriers and an income tax upon their employees, and for other purposes. (Publi No. 400, 74th Congress). The charges and credits were not handled in a uniform manner by all the
carriers and separate totals are not available. The net income for September 1936 incolu charges of (3,880,889 and for the nine months of 1936 of 27,275,110 under the requirements of an
Act approved August 29, 1935, levying an excise tax upon carriers and an income tax upon "heir employees, and for other purposes. (Public No. 400, 74th Congress).
* Includes payments which will become due on account of principal of long-term debt (other t n that in Account 764, Funded debt matured unpaid) within six months after close of month of
report.
# Includes obligations which mature not more than 2 years after date of issue. i
SExcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
_ Deficit or other reverse items.


urlWVERSITY OF FLORIDA

3 1262 08851 0689 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
SEPTEMBER 1937

















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net Income after depreciation Net income before depreciation

Name of railway For the nine months of For the nine months of

197 1936 1931 1936

Alton R. R ............... .................... d $711.430 d 1,.174 689 d 4444.696 d $916,016
Atchison, Topeka & Santa Fe Ry. System/ ......... ,192 3,72,924 14,594,321 12,235,782
Atlantic Coast Line R. R. .......................... 2,4,067 1,062,262 3,921,577 2,653,260
Baltimore & Ohio R. R. .............0............ .43,135 250,077 5,902577 5,79 ,974
Boston & Maine R. R. ........................... 35,l461 d 2.473.858 1,563,505 d 1,244,839
Central of Georgia Ry. ................... ..... .. d t1 d 8920 901,808 d 1.21190
Central R. R. of New Jersey .......................d d 2 71 99d 111 542 d 1,32734
Chesapeake & Ohio Ry ........................... 25,0,947 28,836672 31,411,966 35,154186
Chicago & Eastern Illinois Ry. ...... ...... d 1,764 d 791857 d 182 260 d 349,286
Chicago & North Western Ry. ............. ...... 12 070 d 10,0,538 d 609 1 d 697944
Chicago, Burlington & Quincy R. R. ................ 2,310,049 1,768,528 5,934,166 5,207,107
Chicago Great Western R. R. ......... .......... 4 d 144.988 d 488247 231,747
Chicago, Milwaukee, St. Paul & Pacific R. R"..... 10 7.331216 6,18815 d 8 131,757
Chicago, Rock Island & Pacific Ry.* *............... d Z 2,965 d 11.573.007 4560,23g d 8.359,688
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ d 2,19 49 0d 1.504.60 d 1754,033 d 1,057,660
Delaware & Hudson R. R. ........................... d 5f0.388 d 1.237.417 233,281 d 412,769
Delaware, Lackawanna & Western R.. R. .............. d 7.048 d 91,157 1,518,453 1,070,351
Denver & Rio Grande Western R. R. .* ............... d 4. d 9901 d 41 948 d 3063811
Elgin, Joliet & Eastern Ry. ....................... 1i98,022 1,053,227 2,283,390 1,726,791
Erie R. R. (including Chicago & Erie R. R.) ....... 1,1 ,253 896,965 3,979,072 3,811,314
Grand Trunk Western R. R. .............. ........ d 52.439 d 116.252 255,861 725,995
Great Northern Ry. ............................. 6, 666 9,1 9,682,471 5,960,980
Illinois Central R. R. ............................ d 1,. .98 d 2.498.055 53,321,519 2,409,574
Lehigh Valley R. R ............................... d 9,715 691,26 690,854 2,412,265
Long Island R. R. ....................... ..... d 1.t4.524 d 452,651 d 687.766 421,734
Louisville & Nashville R. R. ...................... 5,7h7,803 6,047,696 8,843,829 9,182,912
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... d 3.92.632 d 4 57168 .108.427 d 3440 612
Missouri-Kansas-Texas Lines .................... d V 2 d 1 197234 119,911 2 59
Missouri Pacific R. R.*........................... d 5. 7517 6 d 2.514.220 d 4 5 2
New York Central R. R. b/ ........................ 7,25,793 3,501,06 19,274,242 15,444
New York, Chicago & St. Louis R. R. ............... 2, 09,029 1,982,889 ,)237,54 3,140,893
New York, New Haven & Hartford R. R .* ............ d 4. 5141 d 4,814,937 d 2,09752 d 2,235,000
Norfolk & Western Ry. ............................ 23,50,53 2,529,13 27,46529 25,911,886
Northern Pacific Ry. ............................. d 2,081662 d4,1 41 343,829 d 1 78,519
Pennsylvania R.R. ................................ 21,905,151 24,717,827 40,600,673 4 9,77
Pere Marquette Ry. .......... ................. 1,72,572 1,298,374 3,288,608 3,197,959
Pittsburgh & Lake Erie R. R. ...................... 3, 06,205 3,367,553 5,098,086 4,720 778
di72067,553 51099,066 720,778
Reading Co. ..................................... 2 4,482,915 7,5110 6866,27
St. Louis-San Francisco Ry.*.*.. d 4 74 70.601 d 2.492650 d 56
St. Louis Southwestern Lines.*..................... 4 24959 199,14
Seaboard Air Line Ry* ............... .. ..... d 3.574.473 d 5.1157 d 2112071 d 3.704,830
Southern Ry. ..................................... 1196,547 1 640,832 3,541,229 4,076,679
Southern Pacific Transportation System c/ ......... 1,524,380 5,040,589 7,566,198 10,910,982
Texas & Pacific Ry. .............. ......... 1,709,280 1,044,191 2,578,156 1,919,549
Union Pacific RR. ........................ 8,982,521 9,684,538 14,057,793 14,530,858
Wabash Ry. ...... ........... ........ ............ d 2.:15,85 d 1,946.295 d 551,516 d 347725
Yazoo & Mississippi Valley R. R ..................... 618,3 d 30,496 98,15 362,6

Report of receiver or receivers.
** Report of trustee or trustees.
/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SIncludes Boston & Albany, lessor to New York Centril iR. R.
SIncludes Southern Pacific Company and Texas & New Orleans R. R. The operation of all separately operated
solely controlled affiliated companies, resulted- in a net deficit of $2,579,473 for nine months of 1937 and
$2,585,270 for nine months of 1936. These figures are not reflected in this statement.
d Deficit.
154719-0 U. S. GOVERNMENT PRINTING OFFICE: 1937





C 34: 93 70


Subject to revision


UNIVERSITY OF FLORIDA

lIIIIIIIUIMIII111111IIUII Ill1I
3 1262 088510697 INTERSTATE COMMERCE COMMISSION
BUREAU bF STATISTICS

SELECTED INCOME AND BAIANCESHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES


Statement No. M-125
OCTOBER, 1937


Compiled from 135 reports (Form IBS) repemnting 141 steam railway

TOTALS FOR THE UNITED STATES (ALL REGIONS)
- I


For the month of October


1956


1937


$60o,77,446
10o,369,096
71,116,52
1,663,077
69,453,465
10,648,931
40,366,367
223,065
51,238,363
18,215,102
1,020,175
17,194,927
16,737,621
2,799,753

1,260,988
6,231,333


Income Items


For the ten


1937


9 .9 g I


$89,809,373
11,510,391
101,319,764
1,75,0o88
99,565,676
11,230,627
40,492,200
237,212
5160,039
47,605,637
1,020,175
46,585,462
16,199,501
3,324,161

1,618,363
1,184,779


1. Net railway operating income .....................
2. Other income .....................................
3. Total income ................................
4. Miscellaneous deductions from income ..............
5: Income available for fixed charges ..............
Fixed charges:
6-01. Rent for leased roads .....................
6-02. Interest deductions ......................
6-03. Other deductions ..........................
6-04. Total fixed charges .................
7. Income after fixed charges ......................
8Contingent charges ...............................
9. Net income 4 ..............................
10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes .............................
12. Dividend appropriations:
12-01. On common stock ..........................
12-02. On preferred stock .......................


6530,770,021
112,452,173
643 ,202,194
16,881,770
626,320,424
110,339,807
405,868,932
2,306,927
518,515,666
107,804,758
10,265,135
97,539,623
163,621,962
31,771,716

73,845,241
20,633,432


months of


1936


$524,292,105
119634,4 8
643,926,543
16,891,399
627,035,14
ll0,897,527
413,401,306
2,282,699
526,581,5:2
100o,45,612
10,155,135
90,298,477
161,357,364
23,393,050

65,421,307
18,413,186


Balance at end of October Balance at end of October
Selected Asset Items 17 19Selected Liability Items197 1
1937 1936 __________________1937 1936
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. $84 ,544,668 $135,195,839
of affiliated companies (Total, Account 707) ..... 8693.023.591 681.844.92 ,
28. Loans and bills payable# .......................... 210,062,762 217,826,952
14. Cash ............................................... 464,197,370 554,817,36 29. Traffic and car-service balances payable .......... 88,130,321 87,119,75
15. Demand loans and deposits ........................ 18,564,793 19,089,247 30. Audited accounts and wages payable ................ 264,58,313 25,142,055
1. Time drafts and deposits ........................ 39,57,91 40,50,519 31. Miscellaneous accounts payable .................... 102,760, 109,916,669
17. Special deposits ................................... ,122 109,385,885 32. Interest matured unpaid .......................... 633,047,752 516,85',535
18. Loans and bills receivable ......................... 10,676, 2,690,689 3. Dividends matured unpaid ...................... ,397,675 36,339
19. Traffic and car-service balances receivable ........ 65,361,849 67,819,537 Funded debt matured unpaid ....................... 64,198,66 78,72,80
20. Net balance receivable from agents and conductors .. 53,509,902 ,535,397 5. Unmatured dividends declared ......................6,63,275 1,27,26
21. Miscellaneous accounts receivable ................. 143,538,400 148,402,128 36. Unmatured interest accrued .................. .... 105,93,056 107,080,327
22. Materials and supplies ........................... ,376,045 294,507,85 Umaatured rents accrued .......................... 38,002,15 37737,2
2. Interest and dividends receivable .................. 23,716,104 30,5857 Other current liabilities ........................ 25,302,986 27,239,794
2. Rents receivable ................................. 2,297,911 2,796,975
25. Other current assets .............................. 9,284,612 6,60,169 39. Total current liabilities (items 28 to 38) ... 1,941,297,501 1,820,252,369
26. Total current assets (items 34 to 25) ......... 1,339,693,359 1,331,314,284 40. Tax liability (Account 771):
40-01. U. S. Government taxes ................... 117,074,022 86,508,831
40-02. Other than U. S. Government taxes ........ 159,515,340 156,040,238

ANALYSIS OF NET INCOME aj

Month of October 1937 Month of October 1936 For the ten months of 1937 For the ten months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net income a net deficit a net income a net deficit
Nber umber Numbre Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports report repo reptsepots

72 $27,581,620 60 $10,386,693 88 $50,839,667 44 $4,254,205 70 $204,104,727 62 $106,565,104 65 $201,820,063 67 $111,521,586

i The net income as reported includes charges of $3,158,962 for October 1937 and $33,104,616 for the ten months of 1937, $1,562,789 for October 1936 and $14,676,483 for the ten months
of 1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also includes charges and credits resulting in a net charge of $3,555,577 for October
1937 and $20,022,323 for the ten months of 1937, because of provisions of the "Carriers Taxing Act of 1937', approved June 29, 1937 and repeal of the Act of August 29, 1935, levy-
ing an excise tax upon carriers and an income tax upon their employees, and for other purposes. (Public No. 400, 74th Congress). The charges and credits were not handled in a uni-
form manner by all the carriers and separate totals are not available. The net income for October 1936 includes charges at 4,576,115 and for the ten months of 1936 of 831,880,348
under the requirements of an Act approved August 29, 1935, levying an excise tax upon carriers and an income tax upon their employees, and for other purposes. (Public No. 400, 74the
Congress).
* Includes payments which will become due on account of principal of long-term debt (other than that hi Account 764, Funded debt matured unpaid) within six months after close of month
of report.
# Includes obligations which mature not more than 2 years after date of issue.
a/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.


I ", I I 1, 17 1.. ., I


~ll~ii

















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTCS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the ten months of For the ten months of

1937 1936 1937 1936

Alton R. .. ....................................... d 1709,828 d $1.171.072 d $412,475 d $883.226
Atchison, Topeka & Santa Fe Ry. System a/ ......... 6,390,393 5,361,831 15,918,365 14,814,647
Atlantic Coast Line R. R. ......................... 2,196,800 902,928 3,882,503 2,667,121
Baltimore & Ohio R. R. ............................ 57,363 1,1,058 6,60079 7,549,872
Boston & Maine R. R .............................. 221,40 d 2.215.866 1,563,689 d 852,090
Central of Georgia Ry.e ........................... d 1 840.181 d 1,840,887 d 1.177 020 d 1.198,841
Central R. R. of New Jersey ....................... d1 43 05 d 50 101 6
Chesapeake & Ohio Ry. ............................. 29,4071737 ,2 7 41,454 3
Chicago & Eastern Illinois Ry.*t..................... 6296985 d48 d 206,033
Chicago & North Western Ry................... ....... d 12,59654 9,343560 d 8,29,20 d 5.231,716
Chicago, Burlington & Quincy R. R ................ 3,322,655 3,373,418 7,359,347 7,196,630
Chicago Great Western R. R.* ...................... d 856,047 d 35.741 476,503
Chicago, Milwaukee, St. Paul & Pacific R. R.** ..... d 5. d 12.222, d .10 d 7.753.901
Chicago, Rock Island & Pacific Ry.* ..........:...T... 8 44 12,341.80 4832g960 d 8780165
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ d 229018 0 1,563,737 d 1801,b46 d 1067,b 0
Delaware & Hudson R. R. ........................... d 613.898 d 1,141.51 267,479 d 226,.99
Delaware, Lackawanna & Western R. R. .............. d 2 662591 1,835,473 1,596,72
Denver & Rio Grande Western R. R* ................. d 5.0. 3,6169 d 4109 5 d 2,55770
Elgin, Joliet & Eastern Ry. ........................ 01 1,198,42,31,268 1,9"6,13
Brie R. R. (including Chicago & Erie R. R.) ....... 1,527,033 1,674,109 4,701,285 4,913,990
Grand Trunk Western R. R. ......................... d 622,64 d 271.249 247,450 659,817
Great Northerp Ry. ............................... a8,800,25 11,835,523 9,386,081
Illinois Central R. R. ............................ d 65.7 d 1,806.60 4,821,152 3,638,019
Lehigh Valley R. R. ............................... d 909.2- 1,112,007 964,143 3,023,198
Long Island R. R. ................................. d 1.759,612 d 721,900 d 785,919 250,030
Louisville & Nashville R. K. ...................... 6,595,091 7,454,948 10,073,594 10,938,316
Minneapolis, St. Paul & Sault Ste. Marie Ry. ........ d 4.349.833 d4.613.147 d 3.366632 d 3.595.622
Missouri-Kansas-Texas Lines ........................ d 1047454 d ,0 d 54515 227,507
Missouri Pacific R. R** ........................... d 6 j! 777 d 70 232,024 d 4194.948
New York Central R. R. b/ ......................... 7 .,443 b,117,663 20,794,426 19,620,92
New York, Chicago & St. Louis R. R ........... .. 2,130,978 2,387,547 3,500,715 3,674,509
New York, New Haven & Hartford R. RP............... 2. 44456 d 2739212 d 1581
Norfolk & Western Ry. ............................ 5 2616,420 30,8,516 31
Northern Pacific Ry. ............................. d 1,600.779 d 3.012,116 1,101,993 d 392,668
Pennsylvania R. R.................................. 26,969,691 30.1629464 7,89032 462309
Pere Marquette Ry. ... ........................ 1,628,810 1,777,589 3,760,431 3,888,326
Pittsburgh & Lake Erie R. R. ...................... 3,897,632 3,75,569 5,486,671 5,258,185
Reading Co. ...................................... 6,134,661 5,379,368 8,714,776 8,024,379
St. Louis-San Francisco RyP* ....................... d i5.479.366 d 5,814.232 d 2,850711 d .134,196
St. Louis Southwestern Lines 0................ d 580.10 d 120.534 d 180852 383,882
Seaboard Air Line RyP ............................. d 4.243.565 d 541.517 2.612.5 d 8508
Southern Ry. .........................................1 04996 2,500,899 3, ,172 5,207,417
Southern Pacific Transportation System 0/ ......... 2,161,027 8,188,250 8,893,999 14,702,756
Texas & Pacific Ry. ............................... 1,945,246 1,383,833 2,907,259 2,356,096
Union Pacific R. R. ..............................12326,12 2 14,14,786 17,989,416 19,531,855
Wabash Ry ...................................... d 2,514,894 d 1,865,604 d 728,220 d 90,391
Yasoo & Mississippi Valley R. R. ................... 878,988 171,803 1,291,086 612,97

Report of receiver or receivers.
** Report of trustee or trustees.
I/ includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R. R.
c/ Includes Southern Pacific Company, Texas & New Orleans R.R., and Leased Lines. The report contains the following
information: 'Inome reported hereon excludes offsetting debits and credits for rent for leased roads and equip-
ment, and bond interest, between companies included herein; also excludes dividends received from certain separately
operated solely controlled affiliated companies during period January lto October 31, 1937, of $170,000 for the
reason that the offsetting charges by such companies are made against profit and loss and therefore would not be
offset in the net deficit of such companies. Operations of all separately operated solely controlled affiliated
companies, resulted in a net deficit of $2,985,178 for the ten months ended October 31, 1937 and $2,875,500 for
the ten months ended October 31, 1936, which is not reflected in this statement. Interest on bonds of, and rental
income from, separately operated solely controlled affiliated companies, whether earned or not, are included in
this statement, in order that such income credits will offset income debits reflected in the net deficit of such
companies mentioned hereinbefore."
d Deficit.
154719-0 U.S. GOVERNMENT PRINTIIG OFFICE: 9137






Sub-jet to revision

Subject to revision


UNIVERSITY OF FLORIDA

3I 1 0lll5 0IllIII III l5lii111111 111111l 111
3 1262 08851 0705


INTERSTATE COMMERCE CbMMISSION
BUREAU F STATISTICS


Statement No. M-12S
NOVEMBER, 1937


SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES

Compiled fr 15 repor (FornIBS) reprenting 141 steam railways

TOTALS FOR THE UNITED STATES (ALL REGIONS)


M.iL IONS n OF


NET INCOME
DOLL ARS


T l[ I III I' I f It ril T l i II i-r II II

60 -- ---------------








20 -- --
1-0 A


I I I I I 1 1 I l i l i 1 1 1 n 1 1 1 1 I


1935


1936


1937


For the month of November


1937


10,238,674


16,570,103
41,:o99
216,821
52,060435
d 56.669,922
905,916
d 6.565,838
16,570,103
1,184,721

39,120,844
5,539,082


*7r,37 6,5a


83,214,147
11,084,169
40,778,816
236,363
52,099,314
31,114,799
920,916
30,193,883
16,036,496
3,732,430


Income Items


For the eleven months of


1937 I


~ I TI 1.


1. Net railway operating income ......................
2. Other income ...................... ...........
3. Total income .................................
4. Miscellaneous deductions from income .............
Income available for fixed charges ..............
SFixed charges:
6-01. Rent for leased roads .....................
6-02. Interest deductions .....................
6-:0. Other deductions .......................
6-04. Total fixed charges ..................
7. Income after fixed charges .....................
8Contingent charges ...............................
9. Net income ..............................
10. Depreciation (Way and structures and Equipment) ...
11. Federal income taxes ..............................
12. Dividend appropriations:
12-01. On common stock ..........................
12-02. On preferred stock .......................


(56, 210,940
128le 6,342
691,307,282
18,586,347'
672,720,935
120,578,481
447,473.871
2,523,748
570,76,100
102,144,835
11,171,051
90,973,784
180,192,065
32,956,663

11l,226,292
26,172,515


1936


0596.668,624
152,119,702
. 728,78.326
18,539,036
710,249,290
121,981,67
45400,SO 9
2,519,061
78,680,877
31,568,413
11,076,051
120,492,362
177,393,860
27,207,163


99,697,494
26,317,950


Balance at end of November Balance at end of November
Selected Asset Items197 1 Selected Liability Items197 1
1937 1956 __________________ 1957 1956
153 Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. $93,453,013 $169,481,986
of affiliated companies (Total, Account 707) ..... .686,52,181 $680220,3 ...
28. Loans and bills payable# .......................... 211,578,226 216,403,914
114. Cash ............................................... 49,071,321 556,1,304 29. Traffic and car-service balances payable ......... 78,886,152 86,39522
1. Demand loans and deposits ........................ 17,048,268 21,689,247 30. Audited accounts and wages payable ................ 30,135,488 245,04,996
16. Time drafts and deposits ........................... 38,616,837 36,648,437 31. Miscellaneous accounts payable .................... 68,981,798 17,10,25
17. Special deposits .................................83,761,11 104,34,33 52. Interest matured unpaid .......................... 632,012,210 517, 671
18. Loans and bills receivable ......................... 10495,2 2,619,220 Dividends matured unpaid .......................... 1,818,400 2,177,035
19. Traffic and car-service balances receivable ........ 58,794,091 67,577,14 Funded debt matured unpaid........................ 464,797,72 474,70,17
20. Net balance receivable from agents and conductors .. 51385,583 60,071,347 35: Unmatured dividends declared ................... 47,235,405 38,391,250
21. Miscellaneous accounts receivable .................. 13,224,673 148,227,377 6. Unmatured interest accrued ........................ 120,49628 19,832,48
22. Materials and supplies ............................. 383,661,332 297,703,076 7. Unmatured rents accrued .......................... 9,516,8 40, ,37
25. Interest and dividends receivable .................. 29,49,812 35,48924 3. Other current liabilities ...................... ,6004 24, 7,67 8
Rents receivable ................................... 2,346,621 2,985,615
25. Other current assets ............................... 8,930,900 6,411,307 39. Total current liabilities (items 28 to 38) ... 1,988,124,071 1,883,331,967
26. Total current assets (items 14 to 25) ......... 1,277,795,798 1,340,453,030 40. Tax liability (Account 771):
S 40-01. U. S. Government taxes .................. 75,956,886 6,09,61
40-02. Other than U. S. Government taxes ........ 15,6,220 1,3,544

ANALYSIS O NET INCOME a/

Month of November 1937 Month of November 1936 For the eleven months of 1937 For the eleven months of 1936
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net income a net deficit a net income a net deficit
Number Number Number be Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reportsreports report

52 $13,184,306 80 $19,750,144 86 $36,608,943 46 $6,415,060 68 $212,816,568 64 $121,842,784 66 $235,523,553 66 $115,031,191

SThe net income as reported includes charges of $3,281,312 for November 1937 and $36,386,013 for the eleven months of 1937, 11,512,398 for November 1936 and $16,189,363 for the eleven
months of 1936 on account of accruals for excise taxes levied under the Social Security Act of 1935; also includes charges and credits resulting in a net charge of $3,260,482 for
November 1937 and $23,282,718 for the eleven months of 1937, because of provisions of the Carriers Taxing Act of 1937 approved June 29, 1937 andrepeal of the Act of August 29,
1935, levying an excise tax upon carriers and an income tax upon their employees, and for other purposes. (Public No. 400, 74th Conress). The charges and credits were not handled
in a uniform manner by all the carriers and separate totals are not available. The net income for November 1936 includes charges of 14,218,163 and for the eleven months of 1936 of
$35,075,455 under the requirements of an Act approved August 29, 1935, levying an exoite tax upon carriers and an income tax upon their employees, and for other purposes. (Public
No. 400, 74th Congress).
* Includes payments which will become due on aooount of principal of long-term debt (other than that in Aooount 764, Funded debt matured unpaid) within six months after close of month
of report.
# Includes obligations which mature not more than 2 years after date of issue.
a/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
I Deficit or other reverse items.


I 'I


1936


.. ...... .. .... .... iLi i = i ... .. .. .


34,276,187
7,904,76
















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.


Net income after depreciation Net income before depreciation

Name of railway For the eleven months of For the eleven months of

1937 1936 1957 1936

Alton R. R. ..................................... ...$44,622 d $1.08.418 ad 516,627 d $766.403
Atchison, Topeka & Santa Fe Ry. System a/ ......... 6,401,032 6,905,784 16,909722 17,301,047
Atlantic Coast Line R. R. ........................ 2,723,634 2,008,338 4,576,145 3,945,331
Baltimore & Ohio R. R ......................... 332,996 2,138,073 6,971,21 8,894,962
Boston & Maine R. R. .................. ... ......... d 9254 d 2.078.359 1,383,133 d 581.530
Central of Georgia Ry ......................... d 211,3174 d 1.963,484 d 1.398.785 d 1.255.493
Central R. R. of New Jersey ....................... 1 680.06 d 2,810.941 d 56.244 d 1.414.528
Chesapeake & Ohio Ry. .......................... 31,745,756 39,22,660 39,325,212 7,014,11
Chicago & Eastern Illinois Ry ................... d d 6047 62 d 64.960
Chicago & North Western Ry.*...................... d 1.726,09 d 9,474,088 91 3 10 4,954,813
Chicago, Burlington & Quincy R. R. ................ 4,016,770 4,272,304 8,457,053 8,482,847
Chicago Great Western R. R.*t....................... d 97.531 160,726 d 408650 624,921
Chicago, Milwaukee, St. Paul & Pacific R..R-*..... d 12.806 468 d 12.969845 7 2 d g806.6241
Chicago, Rock Island & Pacific Ry.* .........,...... d ,159,190 t 5, 08,760 d 9,114:604
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ d 2.430,829 d 1,782774 d 1,886,751 d 1,27.,537
Delaware & Hudson R. R. ......... ...... ...... d 757566 d 1,066266 211,347 d 62,097
Delaware, Lackawanna & Western R. R. .............. d 37 d 37496 1,727,087 2,069,411
Denver & Rio Grande Western R. R.*+ ................ d 5.31,762 d d .725.110 d 4,371.51 d 2,668,079
Elgin, Joliet & Eastern Ry. ........................ 1,62,110 1,406,36 2,506,152 2,228,099
Erie R. R. (including Chicago & Erie R. R.) ....... 610,311 2,017,176 4,100,492 5,583,100
Grand Trunk Western R. R. ......................... d 45,798 d 230.087 126,640 791,357
Great Northern Ry. ................................ 9,215,999 6,670,062 12,562,152 10,025,258
Illinois Central R. R. ............................. 192,005 d 1156028 5,517,247 4,824,066
Lehigh Valley R. R. ............................... d 1.222,612 1,281,949 835,6 3,381,870
Long Island R. R. ............................ 2,081,702 d 936,984 d 1,011,099 132,496
Louisville & Nashville R. R. ....................... 6,890,732 8,648,930 10,733,935 12,480,469
Minneapolis, St. Paul & Sault Ste. Marie Ry. ...... d 4.898 0 d 5,052,784 d 3.813793 d 3,931,158
Missouri-Kansas-Texas Lines ..................... d 1,416421 d 51061 d 319264 599,112
Missouri Pacific R. R. ............................ d 7. 88,75 d 8,268.911 d 3,522,731 d 4,390,273
New York Central R. R. / ......................... 6,903,378 ,374,36 21,654,033 23,2b6,493
New York, Chicago & St. Louis R. R. .............. 2,424,945 2,660,925 3,937,207 4,081,797
New York, New Haven & Hartford R. R.*H............. d 6.545000 d4.091865 d 3.452.963 d 945,056
Norfolk & Western Ry. ......................... 29,428,005 29,959,304 33,851,536 34,110,464
Northern Pacific Ry ........................... d 1966.945 d 29762.950 1,016,616 115,200
Pennsylvania R. R. ................................ 26,743401 33,730691 49,641,101 53,983,271
Pere Marquette Ry. .......................... 1,661,901 2,150,101 4,010,819 4,476,325
Pittsburgh & Lake Erie R. R ...................... 4,000,628 4,227,285 5,784,686 5,868,86
Reading Co. ....................................... 6,383,191 5,951,46 9,219,969 8,857,758
St. Louis-San Francisco Ry.*?...................... d 6517582 d 6.183.485 d 3.61.925 d 3,237,132
St. Louis Southwestern Lines** .................... d 827,260 97,462 d 278,54457,326
Seaboard Air Line Ry............... ............... d 915,242 d 5.665.091 d 5.115.113 d 3.98.,631
Southern Ry. ..................................... 756,265 3,1o0,923 3,613339 6,o78,103
Southern Pacific Transportation System / ......... 1,122,601 10,450,706 8,543,983 17,607,009
Texas & Pacific Ry. ............................. 2,374,505 1,955,043 331,349 3,024,173
Union Picific R. R. (including leased lines) ...... 14,745,03 17,242,471 21,002,229 23,185,689
Wabash R*d 2,882,421 d 1.4,514 d 916.450 204,509
Wabash Ry.* ........................................ d 2,52421 d 16, 50 204,509
Yazoo & Mississippi Valley R. R. ............... 1,205,201 82,22 1,660,795 1,167,655

* Report of receiver or receivers.
** Report of trustee or trustees.
a/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
b/ Includes Boston & Albany, lessor to New York Central R. R.
c/ Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: "Income reported hereon excludes offsetting debits and credits for rent for leased roads and equip-
ment, and bond interest, between companies included herein; also excludes dividends received from certain separately
operated solely controlled affiliated companies during period January 1 to November 30, 1937, of $170,000 for the
reason that the offsetting charges by such companies are made against profit and loss and therefore would not be
offset in the net deficit of such companies. Operations of all separately operated solely controlled affiliated
companies, resulted in a net deficit of $3,381,929 for the eleven months ended November 30, 1937 and $3,220,370
for the eleven months ended November 30, 1936, which is not reflected in this statement. Interest on bonds of, and
rental income from, separately operated solely controlled affiliated companies, whether earned or not, are included
in this statement, in order that such income credits will offset income debits reflected in the net deficit of such
companies mentioned hereinbefore."
d Deficit.
154719-0 U. S. GOVERNMENT PRINTING OFFICE: 1938