Selected income and balance-sheet items of class I steam railways in the United States - 1938

MISSING IMAGE

Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1938
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:
1938
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:
AA00000587:00006

Related Items

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

Full Text

SubC t e. to 3 .ev

Subject to revision


UNIVERSITY OF FLORIDA
llIlIIIII III IIIUi111111l11111lll IIIIIll III i llo EIN
3 1262 08851 0473 INTERSTATE COMMERCE COMMISSION

BUREAU OFS,!TATISTICS


Statement No. M-125
JANUARY, 1938


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


I Compiled from 136 reports (Form IS) representing 1141 steam railways

S I TOTALS FOR THE UNITED STATES (ALL REGIONS)
I I


NET INCOME
MIl IObs OF DOLLARS


I II I I 1 l 11 II '.1 I -
V L LU L~ LJ UJJ


1936


1937


1938


For the month of January


1938


$6,932,862
12,733,141
19,666,003
2,256,678
17,409,325
10,274,932
39,372,661
225,067
49,872,660
d 32.463.335
1,'012,572
d 33.475.907
16,692,013
1,506,343


3,659,759
685,707


1937


Income Items


4 I 4. 4


12,066,447
50,916,391
1,820,699
49,095,692
12,520,031
39,846:,56
223,471
52, 8,958
d 3.94.266
1,0 074,7
d 4.502o006
16,184,300
2,366,307


3,476,226
685,707


1. Net railway operating income ....................
2. Other income ....................................
3. Total income ............. ..............
4. Miscellaneous deductions from income .............
5 Income available for fixed charges ..............
6.Fixed charges:
S 6-01. Rent for leased roads ....................
6-02. Interest deductions .....................
6-03. Other deductions ..........................
6-04. Total fixed charges ................
7. Income after fixed charges ....................
8.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 .....................


Balance at end of January Balance at end of January
Selected Asset Items 1938 1937 Selected Liability Items 1938 1937
1938 1937 1938 1937
13- Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. $9,913,185 $160,860,210
of affiliated companies (Total, Account 707) ..... &661.20.11.444.44 -
28. Loans and bills payable# .......................... 223,182,643 214,204,413
14. Cash ............................................... 336,622,210 513,992,635 29. Traffic and car-service balances payable .......... 69,281,557 81,342,452
15. Demand loans and deposits.......................... 15,218,812 6,670, 2 0. Audited accounts and wages payable ........ 249,291,903 242,034,366
16. Time drafts and deposits ........................... 29,266,014 44,608,6 1. Miscellaneous accounts payable ................... 60,769,066 116,037,771
17 Special deposits ................................... 63,731,85 154,76,038 32. Interest matured unpaid ........................... 662,677,227 ,9
18. Loans and bills receivable ......................... 1,831,398 2,556,9 3 Dividends matured unpaid .......................... 5,79,442 7,256,797
19. Traffic and car-service balances receivable .. ..... 51,978,44 6284,112 Funded debt matured unpaid ........................ 506,97,059 480,511,352
20. Net balance receivable from agents and conductors .. 2,207,289 0,158,590 35 Unmatured dividends declared ...................... ,393,315 4,393,315
21. Miscellaneous accounts receivable ................ 138,857,000 ,207,89 6. Unmatured interest accrued ......................96,495,960 10,177,42
22. Materials and supplies ........................ 383,387,508 321,220,955 37. Unmatured rents accrued ........................... 25,918,598 24,986,950
25. Interest and dividends receivable ............... 20,380,114 23,228,458 38- Other current liabilities ......................... 18,819,355 26,847,624
2. Rents receivable ............................... 1,039,215 1,463,986
25. Other current assets .............................. 4,255,803 6,279,672 39. Total current liabilities (items 28 to 38) ... 1,923,506,665 1,834,140,428
26. Total current assets (items 14 to 25) ......... 1,088,775,640 1,331,635,249 140. Tax liability (Account 771):
40-01. U. S. Government taxes ................. 57,954,425 112,785,12
40-02. Other than U. S. Government taxes ........ 138,731,75 134,195,7

ANALYSIS OF NET INCOME a/

Month of January 1958 Month of January 1937 For the --- months of 1938 For the --- months of 1937
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 not 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
sorts reports reports reports reports ports reports reports

35 $4,938,935 98 $38,414,842 59 $12,817,769 714 17,319,775 No cumulations o um tion
,1__99 -II I I I I 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.
SExcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
Deficit or other reverse items.


For the ---


1938


months of


1937


4sr
4,


~-_IIIIlLL~YIIL*-YLIIY-Y


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IVSL


















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 month of January For the month of January"

1938 1937 1938 1937

Alton R. R.................................. .. d s6,293 d 134.653 $37,579
Atchison, Topeka & Santa Fe Ry. System a/ ........ .77 .1 270,895796.770 1,206,578
Atlantic Coast Line R. R ................... ... 1,0 222 1,443,285 1,203,484 1,614,653
Baltimore & Ohio R. R. ........................... d 2.118.36 d 3340901266,302
Boston & Maine R. R. .............................. d 5341,229 204,261
Central of Georgia Ry........................... d 333.189 d 22 883 d 260 .836 d 159668
Central R. R. of New Jersey ....................... d 2 94 d 27413 d 102 7 d 148525
Chesapeake & Ohio Ry. .......................... 13 3 1,56 2,2
Chicago & Eastern Illinois Ry ..4................ 19.92 d 22 6d 98.113 24,508
Chicago & North Western Ry.* ...................... 25 940 d 1,213.879
Chicago, Burlington & Quincy R. R. ................ d 61.093 d 174,064 d 262,535 226,336
Chicago Great Western R. R.*4 ...................... d 24.25 d 152.668 d 201.22 d 108979
Chicago, Milwaukee, St. Paul & Pacific R. R.*t..... d 1844.952133355 d 88
Chicago, Rock Island & Pacific Ry.t .............. d 1,299.957 d 131.165 d 953.725
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ A 292,b00 d 44 d 243,480 d 347,057
Delaware & Hudson R. R. ........................... d 282.793 d 52.434 d 195.289 36,736
Delaware, Lackawanna & Western R. R. ............ 3 017854172662
Denver & Rio Grande Western R. R.*t ................ d 2d 382. 424 d 286.743
Elgin, Joliet & Eastern Ry. ...................... d 4.974 117503447 --- 1 241
Erie R. R.***(including Chicago & Erie R. R. ... 949,280 1,06 d 63.646 319,148
Grand Trunk Weatern R. R. ....................... d 504797 d 245.431 d 41207 d 158.575
Great Northern Ry. .................. .... d 1,104.041 d 14.917 02.37
Illinois Central R. R.............................. 500,29
Lehigh Valley R. R ................................ d 188d44 d 3183 d 1 3
Long Island R. R. ........................... ..... d 230.27 d 346227 12,54 28511
Louisville & Nashville R. R. ...................... 166.4166,66,884 191,119 514,869
Minneapolis, St. Paul & Sault Ste. Marie Ry...... 7232 d 736.227 d 624.912 d 62.95
Missouri-Kansas-Texas Lines ....................... 1 7299 d 200.118 d 8.12
Missouri Pacific R. R.**.......................... d 12 d 124
New York Central R. R. b/ ......................... d 2.895,46 787,741 d I5 i88 2,118,290
New York, Chicago & St. Louis R. R. ............... d 70204,478 d 227.684 338,876
New York, New Haven & Hartford R. R.*................ d 205.603 879,732
Norfolk & Western Ry. ........22..................... 0,85 2,11,718 ,15,826 2,528,294
Northern Pacific Ry. ............................. d 1 d 719.60 11146 d 451122
Pennsylvania R. R. ................................ ,732 02 792 02,
Pere Marquette Ry. .......................... ..... d 45.726 d 149.925 d 186,941 63,098
Pittsburgh & Lake Erie R. R. ...................... d 59 291,928 134,426 434,578
Reading Co ....................................... 5429 455,947 311,372 715,996
St. Louis-San Francisco Ry.*t..................... d 1.338.729 d 777,100 d 1.078.473 d 514.927
St. Louis Southwestern Lines* ............ 9 ...... d 228,828 d 121.728 d 176,875 d 70,998
Seaboard Air Line Ry.*............................ d 652.595 d 189.688 d 484.274 d 32042
Southern Ry. ................................. 99 9 8,755 d 805,6
Southern Pacific Transportation System .... d 260651 690,30 1,348,5
Texas & Pacific Ry. ..... ..................... .. 4162 92,542 6190,049
Union Pacific R. R.(including leased lines) ......21,27 175,721 831,5 727,337
Wabash Ry.*............. ......................... d 851.922 d 91809 d 672.619 85,052
Yazoo & Mississippi Valley R. R. .................. d 1.908 d 8,280 39,781 31,886

Report of receiver or receivers.
*e Report of trustee or trustees.
*** Under trusteeship Erie R. R. only.
a/ 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: "Income reported hereon excludes offsetting debits and credits for rent for leased roads and equip-
ment and bond interest, between companies included herein. Interest on bonds of, and rental income from, sepa-
rately 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.
Operations of all separately operated solely controlled affiliated companies, resulted in a net deficit of
$589,937 for January 1938 and $245,266 for January 1937, which is not reflected in this statement.
d Deficit.
14719-0 U. S. OVERNMENT PRINTING OFFICE : 193


___ __







Subject to revision


UNIJIVERSITY OF FLORIDA

I3 1262 08851048 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-128
FEBRUARY, 1938


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

Compiled from 136 reports (Form IBS) representing 141 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


UNIV. OF FL LIS.
DOCULENT PT.




U.S. DEPM)TORY


NET INCOME
MILLIONS OF DOLLARS

40



0 A
-20



-40
aI I I I I 1 1 I I I I I I iI I I


1936


1937


1938


For tht month of February


1937


1958


d $2,122.088
10,443,;63
8,321,275
1,999,486
6,321,789
10,274,546
39,385,887
215,836
49,876,269
d 43.554.480
1,012,575
d 4.4567.o55
16,698,464
1,011,759

12,613,829
2,583,169


I I


$38,783,616
11,008,239
49,791,855
1,800,306
47,991,549
11,894,485
39,765,084
235,353
51,894,922
a 3 9031 la
1,092,7W(
d 4,996.113
16,123,492
2,435,972.


16,642,128
2,579,704


Income Items


1. Net railway operating income .....................
2. Other income ......................................
5. 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-Z4. Total fixed charges ..................
7 Income after fixed charges .....................
8. 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 two months of


1938


$4,810,774
23,176,508
27,987,282
4,256,166
23,731,116
20,549,480
78,758,559
440894
99,748,933
d 76.017,817
2,025,147
d 78.042.964

3, 450,474
2,518,102

16,273,588
5,26,876


1957


$77,635,560
23,074,687
100,708,247
3,621,006
97,087,241
24,414,517
79,611,539
458,825
104,484,881
d 7.397.640
2,100,480
d 9.498.120
32,307,727
4,802,279


20,118,354
3,265,411


Balance at end of February --.tc Balance at end of February
Selected Asset Items Selected Liability Items
1938 1937 19 8 193 7
135 Investments .in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............. (165,949,203 $201,716,970
of affiliated companies (Total, Account 707) ..... 662.128.'90 6683.789.8'8 27. Fund dt
28. Loans and bills payable# .......................... 229,217,737 211,393,168
14. Cash ............................................... 320,878,417 516,963,839 -29. Traffic and car-service balances payable ......... 67,649,152 85,962,434
15. Demand loans and deposits .......................... 4,111,333 7,693,292 30. Audited accounts and wages payable ................ 237,467,645 259,604,97
16. Time drafts and deposits ........................... 28,205,022 44,492,926 31. Miscellaneous accounts payable .................... 64,708,491 119,348,541
17. Special deposits ................................... 63,995,883 162,011,819 32. Interest matured unpaid ........................... 683,343,357 550,667,544
18. Loans and bills receivable ......................... 3,707,558 2,001,370 5. Dividends matured unpaid .......................... 2,383,932 1,931,965
19. Traffic and car-service balances receivable ........ 49,761,725 63,6,828 4. Funded debt matured unpaid ........................ 508,358,04 477,220,214
20. Net balance receivable from agents and conductors .. 42,001,176 56,167,568 5 Unmatured dividends declared...................... 15,613,6 15,227,295
21. Miscellaneous accounts receivable .................. 135,318,345 145,806,535 36. Unmatured interest accrued ....................... 98,371,919 105,509,239
22. Materials and supplies ............................. 382,050,487 34O,0o1,566 : 7 Unmatured rents accrued ............. .... .... 32,288,610 31,675,251
23. Interest and dividends receivable .................. 23,912,175 26,494,744. Other current liabilities ......................... 18,449,585 26,235,803
4Rents receivable ................................... 1,315,223 1,760,899
25. Other current assets ............................... 4,066,883 6,306,991 59. Total current liabilities (items 28 to 38) ... 1,957,852,166 1,884,776,391
26. Total current assets (items 14 to 25) ......... 1,059,324,225 1,373,407,377 40. Tax liability (Account 771):
40-01. S. Government taxes ................... 62,050,160 126,294,549
40-02. Other than U. S. Government taxes ........ 142,311,585 131,706,451

ANALYSIS OFPNET INCOME a/

Month of February 1958 Month of February 195 7 For the two months of 1958 For the two months of 1957
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 eportreports reports reports reports reports reports

28 $2,866,815 105 $47,433,870 60 $14,279,190 73 19,275,303 28 $7,571,394 105 $85,614,358 60 $26,514,498 73 $36,012,618

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


- r-.i r.lrnri~. n*cr r.~r*rr~ur ror rr -Ir- .I-C1 f


r.

















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1958 1937 1938 1937

Alton R. R. ......................................365118 6,752 d 13o4.143 $75,314
Atchison, Topeka & Santa Fe Ry. System a/ ........ 4023385,147 d 2.o8. 49 2,256, 78
Atlantic Coast Line R. R. .......... ......... 1,084,862 1,929,658 1,418,95 2,271,668
Baltimore & Ohio R. R. ............................ 6 d 80.214 d 447 3 400,989
Boston & Maine R. R. .............................. 84,770 d 12 350,659
Central of Georgia Ry." ...... ............... d 64910 3 32 d 50.864 240,905
Central R. R. of New Jersey ....................... d 69 .40 67 7 d 437 a 73.069
Chesapeake & Ohio Ry. ............................ 2,03,792 4,042,57 3,49,29 5,411,984
Chicago & Eastern Illinois Ry.P .................. d 3918 d 75.351 d 244.966 21,325
Chicago & North Western Ry? ............ .......... d ,198031 d 3.5454.99 d 3.34,779 d 2.718.147
Chicago, Burlington & Quincy R. R. ......... .... d 1.531558 204,45 d 694.649 1,006,017
Chicago Great Western R. Rf.* ...................... d 72.13 d 382,442 .4d d 95.094
Chicago, Milwaukee, St. Paul & Pacific R R....... 4.037.369 d 2.918,900 3.093,10 d 2.020460
Chicagb, Rock Island & Pacific Ry?. ............... a 2522 25 d 2 d 1:.38591
Chicago, St. Paul, Minneapolis & Omaha Ry. ........ d 40,95 d 844,375d 54.72 745,605
Delaware & Hudson R. R. ........................... d 526. d6 d 225.297 d 351.9 d 47.211
Delaware, Lackawanna & Western R. R. .............. d 946.497 d 35.941 d 3222 85,841
Denver & Rio Grande Western R. R.**P .............. d 1.1.77 d 804,92 d 991.49 d 613.271
Elgin, Joliet & Eastern Ry. ....................... .05 261,197 81 5408,620
Erie R. R. (including Chicago & Erie R. R.)**....... d 2,2,246 d 68.351 d 1.996.223 567,550
Grand Trunk weateqrnl R... R i,...o..,,....4278 d 378 8 d 860 0 6 207 018
Great Northern Ry. ............................... d 2 2d2984.97 221
Illinois Central R. R. ............................ d 399.74 ,d 1.72 1 670,119
Lehigh Valley R. R. ................................... d 327 d 49.193 d 355
Long Island R. ................ .............. 602.009 d 684188 40636
Louisville & Nashville R. R. ..................... d 648.747 188,126 67,777 890,150
Minneapolis, St. Paul & Sault Ste. Marie Ry .*.... 1. .22 d 1.411.194 d 1.301.155 d 1.204.552
Missouri-Kansas-Texas Lines ................... ... d 3 498 d 19692
Missouri Pacific R. R!............................ 3JJ006.413 d 1754.2 2.270620 d i 5,78
New York Central R. R. b/ ......................... d 7L 1,809, 457 71 4,471,822
New York, Chicago & St. Louis R. R. ............... d 718. 372 511,356 d 433.705 780,110
New York, New Haven & Hartford R. R.**.............. d 2,437.8 547.932 d 1.875.909 22,926
Norfolk & Western Ry. .................... ....... 1,305,261 4,533,184 2,135,496 5,308,008
Northern Pacific Ry. .............................. d 2.823.173 d 190.39 d 2 259 123299
Pennsylvania R. R ................................. d 3.926. 2,928,514 76,141 6,891,098
Pere Marquette Ry. ................................. d 832.610 30,646 d 4.9 456,737
Pittsburgh & Lake Erie R. R. ...................... 213596,086 282,50 881 472
Reading Co. ...................................... 929,782 235,82 1,449,79
St. Louis-San Francisco Ry% ....................... d 87.29 d 2.266 2 962907
St. Louis Southwestern Linel ........,......... d 257771 302 59 d 6574
Seaboard Air Line Ry* ............................. 1.199.46 d 441.052 d 860.815 d 125.565
SouthernRy. ....................................... d 1 06,0 d 11,131,7
Southern Pacific Transportation System c/ ......... 379,136 1,697,686
Texas & Pacific Ry. .................*........... 2W8,206 1.443,130
Union Pacific R. R. (including leased lines) ....... 356, 44 29,141 1,595,621 1,133,173
Wabash Ry...................................1..1. .8 4 2191 1,454663 134,454
Yazoo & Mississippi Valley R. R. .................. a 5- 46I d 127,559 29,344 d 47,778


**
*w*

8/


Report of receiver or receivers. 154719.0 u.s.OOVERNMENT P.rnTNG oFFCE:1938
Report of trustee or trustees.
Under trusteeship, Erie R. R. only.
Includes Atchison, Topeka & Santa Fe hy., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central R. R.
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. Interest on bonds of, and rental income from, sepa-
rately 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.
Operations of all separately operated solely controlled affiliated companies, resulted in a net deficit of
$1,303,364 for the two months ended February 28, 1938 and $574,177 for the two months ended February 28, 1937,
which is not reflected in this statement.
Deficit.





i.,
.Z C i f, r r; i


UNIVERSITY OF FLORIDA

11111I IH i i dl | ||11 11111111 il ll l l 1 11H 1111
3 1262 08851 0499 INTERSTATE COMMrRCE COMMISSION

BUREAU OF STATISTICS

SELECTED INCOME AND BALAU E-SHEET ITEMS OF STEAM RAILWAYS IN THE UNITED STATES

Compiled from 136 reports (Form I) representing 141 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLARS


40


1936


1937


1938


Selected Asset Items


135 Investments in stocks, bonds, etc., other than those
of affiliated 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 ............................
2. Interest and dividends receivable.................
Rents receivable..................................
25. Other current assets ..............................
26. Total current assets (items 14 to 25) .........


For the month of Maroh


1938


*14,470,445
10,572,306
25,042,751
P,120,6643
22,922,1 0
10,341,932
39,564,855
215,177
50,121,964
d 27.199.8 6
1,012,57
d 28.212.429
16,882,815
839,205


842,500
464,325


1937


Income Items


For the three months of


1938


4- I 4


$69,881,24g
10o, 741,79
80,623,039
1,865,5 65
78,757,474
12,854,610
39,772,940
2 s,50o
52, 86,890
25,896,584
1,007,740
24, 888,844
16,286,~20
3,494,114

2,876,075
744,237


Balance at end of March


1938


$659,289,982


310,483,107
7,903,202
27,403,272
73,442,175
6,713,9b5
52,915,940
39,070,629
136,020,693
380,380,o897
22,96052,
1416,3534
4, 309,500


1,063,020,241


1937


$687,333,752


501,350,601
8,51,7l43
42,940,265
205,596,677
11,861,653
7 ,493,667
56,000,182
145,845,250
36 ,:27, 715
24,777,263
1,788,317
6,568,299


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 ......................
6-0l. Other deductions ..........................
6-o0. 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 .......................


Selected Liability Items


127.
28.
29.
30.
31.
32.





39.


Funded debt maturing within 6 months* .............
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.........................
Total current liabilities (items 28 to 38) ...


(19,276,657
33,753,375
53,030,032
6,371,284
46,658,748
30,891,412
118,323,412
656,070
149,870,894
d 103.212.146
3,037,720
d 106 .249,866
50,335,25
35357,307

17,116,088
3,733,201


1937


#147,514,so6
,4010,157
181,524,963
5,486,569
176,038,394
37,269,127
119,578,154
692,167
157,539,448
18,498,946
3,108,220
15,390,726
48,594,047
8,296,393

22,994,429
4,009,648


Balance at end of March


1958


.9


$207,492,647


1937


0198,287,565


238,867,417 211,168,510
67,s884 0 89,948,233
230,626,1-8 256,73,899
72,749,447 124,094,952
711,175,728 577,478, 867
13,853,470 12,4,530
513,974,836 483 74,43
839,031 1,818, 35
92, 42,860 100,169,5
29,54,49 :0,102,437
21,193,110 26,680,971


1,993,205,286


- -I .-- I


S1,440,147,632


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


62,042,345
145,648,692


1,914,595,142


120,176,653
132,224,828


ANALYSIS OF N T INCOME a/

Month of March 1938 Month of March 19 7 For the three months of 1938 For the three months of 1937
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 rerts reporreports reports

38 #4,289,806 95 $32,502,235 90 $34,275,364 143 $9,386,520 31 $11,488,446 102 *117,73 ,312 72 $57,073,308 61 $41,682,582


* Includes payments which will become due on account of principal of long-term debt (other
of report.
# Includes obligations which mature not more than 2 years after date of issue.
I/ Excludes reports of 3 roads whose net income (Or deficit) was absorbed by the controlling
I Deficit or other reverse items.


than that in Account 764, Funded debt matured unpaid) within six months after close of month


- -,


--


J .







FI I I | I a l I I I I l p I I t I I I I .!


I.


.,;~ri~~;i;~riri~urwr~~a~~i.i. ~,.~. ... ... ..


ii
rv/


I


Statement No. M-4U
MARCH, 1938
















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000.
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

Net income after depreciation Net income before depreciation

Name of railway For the three months of For the three months of

1938 1937 1938 1937

Alton R. P.. ......................................... 596887 $26,285 d $506.031 $114,165
Atchison, Topeka & Santa Fe Ry. System a/ ......... d 5.66.3 1,047,073 d 2.50918 3,853,374
Atlantic Coast Line R. R ......................5956 2,717,604 2,164,959 3,229,500
Baltimore & Ohio R. R .................... ........ d 2 29,419 d .642.7 1'3 35
Boston & Maine R. R. ............................ 495,703 1,1 6 89,24
Central of Georgia Ry. ............................. d 865.682 327.384 d 651.383 d 131,391
Central R. R. of New Jersey ............ d 92 4 d 607693 d 312571
Chesapeake & Ohio Ry. ......................... 2,602,427 8,3,450 46806 0,19128
Chicago & Eastern Illinois R................... 102,275 d 250624
Chicago & North Western Ry. .. ad 4650.934 d 4,668,097 3,410.247
Chicago, Burlington & Quinc R. R. ................. d 1.728056 1,182,611 d 470.57 2,380,353
Chicago Great Western R. R ........ ........ d 761,17 d 380.24 d 626926
Chicago, Milwaukee, St. Paul & Pacific R. R...... 5.929.591 3.80304 d 4.507.154 d .452806
Chicago, Rock Island & Pacific Ry *. .............. s 67, 2 25 17
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... d 867,22I d 1,097,392 d 719,891 d 9923
Delaware & Hudson R. R. ........................... d 705.119 d 70.716 d 442909 196,067
Delaware, Lackawanna & Western R. R. ............... d 1. 1 409 d 95.902 d 524897 56,574
Denver & Rio Grande Western R. R.**................ d 1,75 1 d 330.184 d 1.451606 d 1.o 039
Elgin, Joliet & Eastern Ry. ....................... d 79111100
Erie R. R. (including Chicago & Erie R. R.)***..... 3 660 633762 d .5 1,587,467
Grand Trunk Western R. R. .......................... 1.614,187 2,534 d 1 1.2 258,547
Great Northern Ry. ............................d 4,841o606 3.702 2,796.76
14oits, Cetrat ,R. R. .............................. d 5959 d 1.048.635 1,65,72 5 17?
Lehigh Valley R. R ................................ d 11..009 d 121,011 d 586.6 ,202
Long Island R. R. ............................... d 872477 d 89l, d 579,266 d 59 7963
Louisville & Nashville R. R. ...................... d 9 91 1,651,165 83,699 2,702,308
Minneapolis, St. Paul & Sault Ste. Marie Ry. *..... 1 d 1.9 281 d 1.848.310 d 1,639,876
Missouri-Kansas-Texas Lines ... .................. d 1.26676 367,342 d 939.706 d 71,731
Missouri Pacific R. R.................. 451616 219265 d 20 d 122597
New York Central R. R. / ........................ 1019638 5295,094 6,121 9,294,793
New York, Chicago & St. Louis R. R. ............... d 1.011.663 965,953 d 585 7 1,370,537
New York, New Haven & Hartford R. R............. d 3.597412 659.285 d 2.75 0 197,813
Norfolk & Western Ry. ........................... 2,041,722 8,22,571 9,35282
Northern Pacific Ry. .............................. d 3.723.828 d 1860247 d 2.877.316 d 1,054.876
Pennsylvania R. R. ................................. d 4.250.042 6,442,639 1,878,981 12,521,610
Pere Marquette Ry. ................................ d 1.194.547 585,525 5379 1,224,688
Pittsburgh & Lake Erie R. R. ...................... 2,209 1,001647 56420 1429,907
Reading Co ........ ................................ d 189 2,049,796 592,36 2,826,570
St. Louis-San Francisco Ry.* .................... 3 d 2.04716 d 3.039,295 d 126050
St. Louis Southwestern Lines**..................... d 488,12 d 219,542 d 332.379 d 68,054
Seaboard Air Line Ry.*............................. d 1.540.846 d 315.096 d 1.03193 157,966
Southern Ry. ...................................... d 2.5 8.70 1,506 ,97 d 1.781 899 2,294,848
Southern Pacific Transportation System c/ ......... d 7916 02 4,3 d 378 2,77528
Texas & Pacific Ry. ............................... i 89 408389 2 78 ,239
Union Pacific R.. R.(including leased line) ...... 606,085 1,083,45 2,460,96 2,736,87
Wabash Ry.*....................................... d 2.520,521 d 115.138 1.982543 415,554
Yazoo & Mississippi Valley R. R. ................. d 187.136 78,113 d 9371 199,092

Report of receiver or receivers. U.L GOER E T ,RINTIN OFFICE:,19,8-0-1547
** Report of trustee or trustees.
*** Under trusteeship, Erie R. R. only.
a Includes Atchison, Topeka & Santa Fe Ry. Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New Yore Central R. R.
a/ 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. Interest on bonds of, and rental income from, separa-
tely 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. Opera-
tions of all separately operated solely controlled affiliated companies, resulted in a net deficit of $2,002,584
for the three months ended March 31, 1938 and $749,425 for the three months ended March 31, 1937 which is not
reflected in this statement.
d Deficit.




--~~~~~~~~~~ .-. -l~.- .'-. ---- ~'-.-. ?-


SuC bIt to 3mrv
Suboect to nvldon


UNIVERSITY OF FLORIDA

IM II 1111 III ll IIII IIIII III llIII 111111111I
3 1262 08851 0507 INTERSTATE C COMMERCE CpMMISSION
BUREAU (F STATISTICS


Statement No. M-125
APRIL,1938


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

Compiled fomi 136 sports (FPoes I) repesntOing 14 steam railways
(SWITCHING AND TE A COMPANIES NOTINCLUDED)
--I mI -~ ";ir I I r i I Ii ii


TOTALS FO.R. t T* STATES (ALL REGIONS)


MII IOIIM


NET INCOME
t 1RFoLLAFRS


40 -

to

0 - -

-20

o40
JtA JI I I I I I I I I I I I I L I I


1936


1937


1938


For the month of' April -


1938


$9,236,818
10,5814,332
19,821,150
2,083,786
17,737,364
10,362,259
39,640:,37i4
50,205,169
d 32.467.805
1,015,274
d 33.483.079
16,801,565
753,792


1,269,992
813,702


1937


*1


LO, 4
i8,904,090
1,752,823
57,151,267
1,966,98
40,117,97
233,7
52,31.7,12
4,834 ,1
1,010,41
3,8623, b4
L6, 321,579
3,055,715

1,934 '74
906,1-


Income Items


1. Net railway operating income .......................
2. Other income .....................................
3. Total income .............................


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


For the four months of


1938


028-791js03


8, 55,070
64,32,190
41,253,673
157,963,787
858,607
2oo0,o6,o67

& 139796.871?
67,136,783
3,832,774

18,386,080
4,546,903


1937


195,872,539
2956,521
240 W29,053

7,233,392
233:189,661
49,23 5,226
159,696,114
925,233
2,33088
4,118,661
19,2114,427
i:,915,628
11,352108

24,928,776
4,915,812


Balance at end of April Balance at end of Aprtl
Selected Asset Items Selected Liability Items
1938 1937 1938 1937
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ............... $212,561,395 .2 1,544M,95
of affiliated companies (Total, Account 707)........ $652,620,728 $688,989,703
S2. Loamr and bills payable# ............................. 231,794,250 20*1 ,
14. Cash ................................................ 305,933,149 ,468,374,6 29. Traffic and oar-service balances payable ............. 63.,756,174, ai 6
14. Cash ...n ...... ............................8.
15. Demand Ibn and deposits ............................ 8,010,8467 30. Audited accounts and wages payable ................... ,822,203 75 2
16. Time drats had deposits ..............1,0 1. Miscellaneous accounts payable ....................... 57,913,757 1
17. Special posits .............. ................. 57,1,076 27092,746 32. Interest matured unpaid .............................. 710,168,375 57 ,
18. Loans and bills receivable ........................... 3,766,100 9,278,286 33i Dividends matured unpaid ............................. 2,576,921
19. Traffic and ar-service balances receivable .......... 47,66,525 63,803,998 34. Funded debt matured unpaid ........................... 52 ,26 479
20. Net balance receivable from agents and conductors .... 37, 9,845 51,92,391 35. Unmatured dividends dolared ........................ 1.6,969 14
21. Miscellaneous accounts receivable ................... 133, 7,530 14,0,107 36. Unmatured interest 8acrued ........................... 95,78280 1 70,75
22. Materials and supplies ............................... 374, ,6 36,285,21i 37. Unmatured rents accrued .............................. 3,552,512 ,
23. Interest and dividends receivable .................... 21, ,570 25,931,51 38. Other current liabilities ............................ 20,997,721 28,8
24. Rents receivable................................... 1,454,083 1,91,996
25. Other current assets ................................. 4,155,294 6,915,988 39. Total current liabilities (items 28 to 38) ...... 1,987,380,922 1,888,449,545
26. Total current assets (items 14 to 25) ........... 1,015,227,241 1,463,925,185 40. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 53,550,022 127,335,446
40-02. Other than U. S. Government taxes .......... 137.,352,954 125,631,222

ANALYSIS OP ET INCOt a/

Month of April 1938 Month of April 1937 d -. Fo~ e four months of 1938 For the four months of 1937
i, I'I I


Railways reporting
a net income


Railways reporting
a net deficit


Railways reporting
a net income


Number
of
reports


Amount


SRailways report M
.a net defoit


'I Rai as reporting
S *'.aetincome o


Ratlways reporting
a net deficit -


Railways reporting
a net income


.1 ~II. I. I- I 7


Number
of
reports


Amount


Number
of
reports


Amount


Number
of
reports


Amount


Number
of
reports


Amount


Railways reporting
a net deficit


Number
of
reports


Amount


72 $18,054,753 6i $14,231,049 31 $14,084,187 102 $153,881,058 73 *72,279,761 60 $53,065,334


Includes payments which will become due on account 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.
Exoludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
Deficit or other reverse items.


---I ;---





~:e ii


rr


I


\/ i


-i















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


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

1938 1937 1938 1937.

Alton R. R. ...................................... 865 370 70.919
Atchison, Topeka & Santa Fe Ry. System / ........ .313.279 90,00 7,61205
Atlantic Coast Line R. R. ........................ 1,595152 2,87,504 242 1. 3,5554,712
Baltimore & Ohio R. R. ........................... d 232.0 83,854 a 6.93 8645 2,91,671
Boston & Maine R. R. ...................... ..... 80,3 623,491 1,5 0 1,157,899
Central of Georgia Ry.*............................ 1166.49 a 91.419 d 976 d 129.71
Central R. R. of New Jersey ...................... d 13. 820 d 87031 7734
Chesapeake & Ohio Ry. ........................... 2,557 10,7,O605 5,893103 13,11,16
Chicago & Eastern Illinois Ry.* .. ..7.9................. 777 135 2,073
Chicago & North Western Ry...................... 955 .1465.39.24 d 4,492,656
Chicago, Burlington & Quincy R. R................ 2.061.79 881,616 d 38319 ,4.82,78
Chicago Great Western R. R. ....... .... .... 9 20 d 5 8 8
Chicago, Milwaukee, St. Paul & Pacific R. R."....
Chicago, Rook Island i Pacific R.y................. 24 d 468 1
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... 2661 l.-.m I 492b6 22I l b5
Delaware & Hudson R, R. .......................... d 9.13 3 d 449.640 5 526,978
Delaware, Lackawanna & Western R. R. ............. 1 8. 3 1,307,08
Denver & Rio Grande Western R. R.**................ 2 d 7 2d 1.66.4065
Elgin, Joliet & Eastern Ry....................... 6747b 306
Erie R. R. (including Chicago & Erie R. R.)**..... 985,5 2,256,854
Grand :Trunk Western R. R. ......................... 6 7,54 d 1 419,69
Great Northern Ry. ................................ .d 2i350.46
Illinois Central R. R. ............................ L 75 ,48
Lehigh Valley R. R. .............................. 164.320 d 15 852,879
Long Island R. R. ............................... 1.07.53 8 ...874 d 622.120
Louisville & Nashville R. R. ............ ....... ... 1 2 426,286 170,55 3,820,996
Minneapolis,'St. Paul & Sault Ste. Marie Ry.i .... d 2169434 d2.329, d 1.957,261
Missouri-Kansas-Texas Lines ......................4 d l67.91 d 101 16
Missouri Pacific R. R.. ................... d.....0... d 6,2,1 2 d 2,004,05
New York Central R. R. b/ ...................... d 13 95 7.72,214 11,787,272
New York, Chicago & St. Louis R. R. ............... 1 1,071,754 d 79892,610,411
New York, New Haven & Hartford R. R.*. ............ d 4.b118 d 788.305 d 3 i9,22
Norfolk & Western Ry. ............ ........... ,66,615 4, 12,247,1
Northern Pacific Ry. ............... ........... 4 d 2,2873 d 3. 6891.20963
Pennsylvania R. R ............................. 9515 19 17 ,89
Pere Marquette Ry. ................................ d :1.48889# 6,542 d 688.174 1,748,795
Pittsburgh & Lake Erie R. R. ...................... ,94 1,208,411 76,2 1,782,051
Reading Co. ..................................... d 206931 ,053,154 77 ,500 o4087.517
St. Louis-San Francisco Ry.. ..9...... ............. .2.8 93 d 3.8. 93' d 1.771.717
St. Louis Southwestern Lines -..................... d 7751 359,177 d 195 g 60
Seaboard Air Line Ry.* ............................ d 1967.129 d 496.99 gd 1.287.8 135,817
Southern Ry ..................................... 1,7 6 .54 d 2,78 .522
Southern Pacific Transportation System c/ ........ d 1 ,895 72,501,623
Texas & Pacific Ry. ............................... d4 81 4 744,55 3.,87 1,134,07
Union Pacific R. R. (including leased lines) ..... 70,7 ,03,162,282 2,775,023
Wabash Ry* ............... ....................... .. d 3.18808 d 279.4i1 d 2 4.7 6 430,149
Yazoo & Mississippi Valley R. R. .................. d 258 204,b66 7 368,977

U. OVERNMENT PRINTING OFFICE: 1938--0-154719
Report of receiver or receivers.
** Report of trustee or trustees.
*** Under trusteeship, riele R. R. only,
a/ Includes Atchison, Topeka & Santa Pe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston Albany, lessor to New York Central R. R.
o/ Includes South#rn Paoifio Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information:, "noome reported hereon excludes offsetting debits and oredits for rent for leased roads and equip-
ment and bond interest, between companies included herein. Interest on bonds io, and rental, income from, separa-
tely operated solely controlled affiliated companies, whether earned or not, are included.in this statement, in
S order that suhh inoome credits will' offset income debits reflected n the net deficit of such companies. Opera-
tions of all separately operated solely controlled affiliated companies, resulted in a net deficit of $2,676,335
for the four months' ended April 3.;, l1938 and t964,983 for the four months ended April 30, 1937, which is not
reflected in this statement.
d Deficit.


r





j et to re 34: 93v

Subject to nrevision


UNIVERSITY OF FLORIDA

11111lll lillll llll lI 111 11 11 111 1 I
3 1262 088510515 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
MAY, 1938


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

Compiled from '136 report (Form IBS) representing 141 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)
r


NET INCOME
MILLIONS OF DOLLARS

I 1I 1 I i I ,
40n ,


, l 7 1 '


O/v -4vI
20 ---


-20 --- ---- ---- ----

-40 --- -- -- ----- -- -- -
tr/O


1936


1937


1938


For the mobth of Myi :
I 1938. 197 ,:


016,496,694
11,566,504
28,063,198
1,807,112
26,256,086
10,755,326
39,777,627
213,061
50,746,014
d 24.4 928.
d 25.502,.01
16,922,068
1.035,682


044,239,448 :
11,428,973
55,668:41
1,619,746
54,048,675
11,757,603
39,727,062
234,332
51,718,997
2,329,678
1,007,739
1,321,939
16280,564
2,699,498

17,437,379
3,439,5429


Income Items


For the five months of


139i


r ~I 'I


1. Net railway operating income ........................
2. Other income ........................................
3. Total income ....................................
4. Miscellaneous deductions from income.................
5. Income available for fixed charges .............
6. Fixed charges:
6-01. Rent for leased roads and equipment .........
6-02. Interest deductions .........................
6-03. Other deductions ............................
6-04. Total fixed charges ...................
7. Income after fixed charges ......................
8. 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 .........................


$45,288,499
55,561,959
100,850,458
10,262,182
90,588,276
52,009,000
4 197,741,412
1,071,668
250,822,080
d 160.233.804
,065o567
d 165.299,371I
84,058,851
4,868,456

29,575,125
5,255,786


1937


#0210,11l,982
55,985,4 91
296,o97,073


8,859,135
287,238,338
60,992,850
S199,23,174
1,159,565
261,575,56
25 662:,6
5,126,50
20,536, 369
81,196,194
14,051,606


42, 366,155
8,355,354


Balance at end of May Balance at end of May
Selected Asset Items 19a1 Selected Liability Items 1319
1938 1957 1938 1957
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $199,791,992 $140,016,753
of affiliated companies (Total, Account 707)......... 650,637,120 $700,221,084 u
S28. Loans and bills payable# ............................. 29,874,504 22204,812
14. Cash ................................................ 307,238,043 466,946,351 29. Traffic and car-service balances payable .............. 65,785,102 s8084 ,67
I Demand loans and deposits ........................... 7,608,346 10,29,26 30. Audited accounts and wages payable ................... 223,73,526 258,96,9
16. Time drafts and deposits ............................. 19,569,102 41l,1,370 31. Miscellaneous accounts payable ....................... 68,367758 15070,858
17. Special deposits ..................................... 64,091,885 311,975,91 32. Interest matured unpaid .............................. 712,668,25 57696,144
18. Loans and bills receivable ........................... 4,358,139 10,627,4 33. Dividends matured unpaid ............................. 1,630,68 1,667,042
19. Traffic and car-service balances receivable .......... 50,275,787 62,533,010 34. Funded debt matured unpaid .......................... 525,205, ~6 480,067,843
20. Net balance receivable from agents and conductors .... 43,350,007 6,191,658 35. Unmatured dividends declared ........................12,298,017 19, 77,272
21. Miscellaneous accounts receivable ................... 132,114,166 17,186549 6. Unmatured interest accrued ........................... 109,697791 116678,866
22. Materials and supplies ............................... 36,944,202 366,412,49 37. Unmatured rents accrued ............................. 38,105,188 40,600,228
23. Interest and dividends receivable ................... 2,252,929 28,999,149 38. Other current liabilities ............................ 32,715,352 26,432,309
24. Rents receivable .................... ................ 1,64 ,709 2,028,988
25. Other current assets ................................. 4,317,283 7,186 0 39. Total current liabilities (items 28 to 38) ...... 2,030,033,171 1,954,543,305
26. Total current assets (items 14 to 25) ........... 1,022,765,598 1,511,561,083 40. Tax liability (Account 771):
40-01. U. S. Government taxes ................... 59,185,653 134,977,161
40-02. Other than U. S. Government taxes .......... 13,726,778 132,253,758

ANALYSIS OF lET INCOME a/


SRepresents accruals, including the amount in default.
SIncludes 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 lose of
month of report.
# Includes obligations which mature not more than 2 years after date of issue.
Sxcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
- Deficit or other reverse items.


. -L-i i ---


i


- I


-1,


.1


11,189,045
708,88


.. ., ....*' .. : .- ^l .,*















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1938 1937 1938 1937


Alton R.R. ..... .................................
Atchison, Topeka & Santa Fe Ry. System a/ .......
Atlantic Coast Line K. R. ........................
Baltimore & Ohio R. R. ... ...................
Boston & Maine R. R. ...........................
Central of Georgia Ry.*..........................
Central R. R. of New Jersey .....................
Chesapeake & Ohio Ry. ...........................
Chicago & Eastern Illinois Ry.*?..................
Chicago & North Western Ry.*...................
Chicago, Burlington & QuinoyR. R. ..............
Chicago Great Western R. Rf*.....................
Chicago, Milwaukee, St. Paul & Pacific R. R-.*P...
Chicago, Rock Island & Pacific Ry.*P..............
Chicago, St. Paul, Minneapolis & Omaha Ry. ......
Delaware & Hudson R. R ..........................
Delaware, Lackawanna & Western R. R. .............
Denver & Rio Grande Western R. R.*................
Elgin, Joliet & Eastern Ry. ......................
Erie R. R. (including Chicago & Erie R. R.)*##....
Graad Trunk Western R. ,,...... .........
Great Northern Ry. ..............................
Illinois Central R. R...........................
Lehigh Valley R. R. ............................
Long Island R. R.. ..............................
Louisville & Nashville R. R.....................
Minneapolis. St. Paul & Sault Ste. Marie Ry.*....
Missouri-Kansas-Texas Lines .....................
Missouri Pacific R. R.*..........................
New York Central R. R. b/ .......................
New York, Chicago & St. Louis R. R ............
New York, New Haven & Hartford R. R.?.............
Norfolk & Western Ry. ............................
Northern Pacific Ry.. ...........................
Pennsylvania R. R. .............................
Pere Marquette Ry ...............................
Pittsburgh & Lake Erie R. R......................
Reading Co. .. ....................................
St. Louis-San Francisco Ry.*?.....................
St. Louis Southwestern Lines *?...................
Seaboard Air Line Ry.*............................
Southern Ry. ............................ .........
Southern Pacific Transportation System c/ ........
Texas & Pacific Ry. ..............................
Union Pacific R. R. (including leased lines) .....
Wabash Ry.* .......... ...........................
Yazoo & Mississippi Valley R. R.................


d 1.456.993
d 1 523
d 9 5,212



d 2,992,1
d 2,6132471
d 1.102.692






d 1.06 oK 50
d 1. 2 9
d 711. 76
d 1.8176.11

d 63.17,25
a 2.74971

d 1.51 O5.1




d 1.9 if
d 1:225 Z5T
d 1.06 .950
d 3.331 8.77
d 2.326.
d 7.9% 11

d 1.620.518
a 5.677,02
3,731,225
d 53.764091139
d 12685.446
108,037
d 6.187.771

d 2.636.567
d 3.162.751
d 11 :10.980
643,271

d 2b8.234


d $245.o58
400,927
2,650,193
109,291
564,928
d 546.270
d 595,.53
S13,066,693
d 209. Ta
d 8,0902795


207,779
578,471
d 2.9122,30
l89g, 53
1,210,608
270,726
d 2,287.636
d 2.158. 502
d 1- 12,66
d 1.038.073
3,270,437
d 2.923.,554
d .710.307
d 4.1797.331
7,669,431
1,140,099
d 1.,558,708
13,195, 551
d 3,041.673
12,010, 44J
,D932




12,010,1443


d 926.642
1,930,201
d 916,088
1,023,582
350,597
d 660.645
195,752


d 942.236
d 988.496
2,012,086
Ht


1,186,'74
d 736,873
-73,4 8
d 2.826.3
d 1.777,74
d 6,121.7
d 8!419.598
d 905.162
d 4.270.173
5,807,336
d 4.645.970
4,805,468
d 785.735
1,004,907
1,414,228
d 4. 885.905
d 588.135
d 1.786.898
S1.885.619
d 9:353.383
539,915
3,697,207
d 2,812,996
S 43,36g8


d $98,550
5,o82,970
3,500,090
3,119,623
1,234,779
d 218.469
16, 97,208
41,881
d 6.023.786
1,856,622
d 421.684
d 4.988.918
d-4. 864 821
d 1,402.520
651,371
1,630,707
d 2 434 628
1,188,931
2,799,105
695,24)
d '7786661
468,814
834,363
d 549.852
5,008,642
d 2.413.000
d 217.099
d .054., 589
14,339, 55
1,814,672
d 136.162
15,156,955
d 1,699,808
22,302,563
2,031,497
2,455,670
4,755,904
d 2.328,395
d 205.416
d 131.495
3,239,710
2,414,163
1,510o,069
3,142,205
228,610
399,534


U.S.60ERNMET P~IF G OFFICE : 1938-0 -77067
Report of receiver or receivers.
*e Report of trustee or trustees.
** Under trusteeship, Erie R. R. only.
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, 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. Interest on bonds of, and rental income from, separa-
tely 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. Opera-
tions of all separately operated soley controlled affiliated companies, resulted in a net deficit of $3,231,848
for the five months ended May 31, 1938 and $1,312,711 for the five months ended May 31, 1937 which is not
reflected in this statement.
d Deficit.


d 7. S.4.18
d 5.- .5 9
d 1,122,9P63





IC /se. : 9t38

Subject to revision


UNIVERSITY OF FLORIDA
IIIlll IIII IIlllllllllll llI INTERSTATE C E MMR OMMISSInN
3 1262 08851 0523 IE AE ECE COMMISSION
BURE U OF STATISTICS
I


Statement No. M-125
JUNE, 1938


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

Compiled from 136 report_ (Form IBS) M presenting 1141 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)
_____________- ^ __ ------ ----- - -'' _^_ ^________


NET INCOME
MIL ION5 OF DOLLARS


40

20

0

-20


1936


1937


1938


For the month of June


1938


$25,000,807
12,688,409
37,689,216
2,021,744
35,667,472
o10,534,174
39,855,674
209,275
50,609,123
d 14:941,651
d 15.954.225
16,854,779
937,685


580,688
224,565


1937


Income Items


For the six


1938


i .1. '. I : '


$59,354,316
15,585,9068
74,94o,224
11449,766
73,490,458
14,026,827
39,861,260
234,855
54,122, 942
19,367,516
1,007,741
18,359,775
16,310,789
3,726,927

12,301.370
1,442,231


1. Net railway operating income .......................
2. Other income................................... .
3. Total income ...................................
4. Miscellaneous deductions from income .................
5. Income available for fixed charges .............
6. Fixed charges:
6-01. Rent for leased roads and equipment .........
6-02. Interest deductions .........................
6-03. Other deductions............................
6-04. Total fixed charges ....................
7. Income after fixed charges ......................
8. 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 ........................


$70,289,303
68,250,370
138,539,673
12,283,925
126,255,748
62,53,175
0 237,o7,o08
1,280,944
301,431,203
d 1 I. 4
d 181.253.596
100,913,628
5,805,141i


30,155,813
5,480,351


months of


1937


$299,466,300
71,571,398
.371,037,698
10,308,905
360,728,793
75,019,655
S239,284,436
1194, 20o
3 5.698,511
3,05282
38,896,141
97,506,981
17,778,533

54,667.525
9,797,585


Balance at end of June Balance at end of June
Selected Asset Items Selected Liability Items
1938 1937 1938 1937
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ t220,337,495 $93,184,491
6f affiliated companies (Total, Account 707)........ 655,345,827 $699,202,518
28. Loans and bills payable# ............................. 250,982,938 211,912,833
14. Cash................................................. 314,80751,135,417 29. Traffic and oar-service balances payable ............. 68,982,523 83,616,555
15. Demand loans and deposits ............................ 7,796,776 ,299,530 30. Audited accounts and wages payable ................... 221,009,315 25,29,58
16. Time drafts and deposits ............................. 17,209,54 39,519222 31. Miscellaneous accounts payable ....................... 72,526,018 1,967,
17. Special deposits ..................................... 65,90,966 321,257,19 32. Interest matured unpaid ............................. 75,070,550 6677
18. Loans and bills receivable........................... 2, ,519 9,53, 33. Dividends matured unpaid ............................5 11,220,265
19. Traffic and car-service balances receivable .......... 27 60,896,68 34. Funded debt matured unpaid.......................... 52 86 509,169,868
20. Net balance receivable from agents and conductors ... 1,2 001 53,78,997 35. Unmatured dividends declared ..................... 769,652 10 ,91
21. Miscellaneous accounts receivable .................... 10,074,1 15,781,010 36. Unmatured interest accrued........................... 83,7 ,23 90,609, 1
22. Materials and supplies ............................... 355,2 00 371,342,681 37 Unmatured rents accrued .............................. 23,537,5o 24 9,168
23. Interest and dividends receivable .................... 22,5:, 25,70,87 38. Other current liabilities ........................... 24,878,525 30,371,25
24. Rents receivable ..................................... 1,555, 1,937,006
25. Other current assets ................................. 4,989,961 7,372,136 39. Total current liabilities (items 28 to 38) ...... 2,D35,542,665 1,991,620,853
26. Total current assets (items 14 to 25) ........... 1,014,358,594 1,495,921,969 40. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 57,601,790 113,416,484
S.. __ 40-02. Other than U. S. Government taxes .......... 19,910,277 137,788,555

ANALYSIS;OF NET INCOME &/

Month of June 1938 Month of June .1937 For the six months of 1938 For the six months of 1937
-,, ,I ,I


Railways reporting
a net income


Railways reporting
a net deficit


Railways reporting
a net income


Railways reporting
a net deficit


Railways reporting
a net income


Railways reporting
a net deficit


Number Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount i of
reports reports reports reports reports report

37 $12,357,657 96 $28,311,882 68 $29,157,166 65 $10,797,391 30 26,884,443 103
____ !___________ __________________ ___ -------- -- : ------- --


Railways reporting
a net income


Railways reporting
a net deficit


SAmount


$69,475.950


Represents accruals, including the amount in default.
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 I years after date of issue.
Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
Deficit or other reverse items.


__ ICI


V!V
Y ,





V
-,,I I- -I -I --- ---II -I---- .


L--- I

















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

Name of railway For the six months of For the six months of

1938 1937 1938 1937

Alton R. R ......................................d d 11.25082.648 ad 273.111
Atchison, Topeka & Santa Fe Ry. System a/ ........ d 2 2 3,262,78 2,988,957 ,89 3905
Atlantic Coast Line R. R ........................ 1,997123,658 ,1 01,463 3, 430
Baltimore & Ohio R. R. ............................ dl11 308 11,756 2 3,621,109
Boston & Maine R. R. ........................... 2. 3654,707 182 36 1,459,155
Central of Georgia Ry. *........................... d 1.754.353 8000 d 1.326521 d 406820
Central R. R. of New Jersey ...................... 1 846 435 41 0 i 231 246,531
Chesapeake & Ohio Ry. ............................. 5 ,729, 62 95719,790,760
Chicago & Eastern Illinois Ry. .................. d 1,210,112 d 17 d
Chicago & North Western Ry. ** ..................... d 11.1431b 84 33
Chicago; Burlington & Quincy R. R. ................ 3235 452,639 ad 7092,86o,0oa
Chicago Great Western R. RP*...................... d 7 59399 A l d4 d4
Chicago, Milwaukee, St. Paul & Pacific R. R.*P.... 4
Chicago, Rock Island & Pacific Ry.*P .............. d
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... 1
Delaware & Hudson R. R. .......................... 244129,720 d 222 661,500
Delaware, Lackawanna & Western R. R. ............ 58745 1,848763
Denver & Rio Grande Western R. R*I................ d d i,33 7 19
Elgin, Joliet & Eastern Ry. ...................... 6 434
Erie R. R. (including Chicago & Erie R. R.)*P .... 1,7286,2 ,1928024
Grand Trunk Westeri R. R. ........................ 3 930 171,77 d 21 679,826
Great Northern Ry. ............................... ... a 16 89,866 d 5 2 41,901,393
Illinois Central R. R. .......................... 93016 d 1. 888 1,522,706
Lehigh Valley R. R.................................. 2251 1 d 1 61.d813
Long Island R. R. ................................ 1334 A d d 6088
Louisville & Nashville R. R ..................... 3,89 0 1,037,493 5,76,714
Minneapolis, St. Paul & Sault Ste. Marie Rye 1..... 0 3 96 d d 6 977
Missouri-Kansas-Texas Lines ......................
Missouri Pacific R. R.**..........................
New York Central R. R. b/ ........................ 17 3949524 d
New York, Chicago & St. Louis R. R. .............. d 1 884 421 1,378,242 d 1 02 20 2,190,787
New York, New Haven & Hartford R. R.**............ d 2 101 35 d 3 92
Norfolk & Western Ry. ............................. 00031 -
Northern Pacific Ry. ............................. 6897282 & 2497.631 d 5202.14
Pennsylvania R. R............................... 087, 77
Pere Marquette Ry. ...............................212 1094 647 d 1 200 2,373,830
Pittsburgh & Lake Erie R. R. ,09 o7s.....................,23122009M 8357657 3
Reading Co...................................... 357,332 4,32i,842 1,925,81 5,878
St. Louis-San Francisco Ry.*..................... 7.107 358 d 397717 d 5,5400 d 240468
St. Louis Southwestern Lines? ..................... 25 234241
Seaboard Air Line Ry.*........................... d 3.529.177 d 572.508 d 2 9 61 o
Southern Ry .................................... 611--- 9 0
Southern Pacific Transportation System c/ ........ d 7 2 d 163o 8 3 39896
Texas & Pacific Ry. ............................. .6 11 1 266,60 1 ,65
Union Pacific R. R. (including leased lines) ..... 2,151,373 2,192,619 5,80 409 5,54,648
Wabash Ry.............. .. .......... ...... d 4 3o.531 20,432
Yazoo & Mississippi Valley R. R. ....... d 83 653,515

U.S. GOVEMMNM EPmG OFICM :1938-0 -77067
Report of receiver or receivers.
Report of trustee or trustees.
*** Under trusteeship, Erie R. R. only.
/ 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, 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. 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. Operations of
all separately operated solely controlled affiliated companies, resulted in a net deficit of $3,663,135 for the six
months ended June 30, 1938 and $1,504,130 for the six months ended June 30, 1937 which is not reflected in this state-
ment.
d Deficit.


Yile~





re t to rie.34

Subject to vidon


UNIVERSITY OF FLORIDA

IIIIIIIIIII I I DII Pil liII IIlllll l liii 111111 I i l
3 1262 08851 0531 IN TERSTAT COMMERCE ,COMMISION
BUtkAU OF STATSST IC "

SELECTED INCOME AND BALAN ITEMS OP CA ISEAM RAILWAYS IN TH UNITED StAT

nCompied fTm 1 report. (Form e4 sea railway
(SWITCHING AND TERviNAL (PA*ISS NOT INCLUDED)


NET INCOME


t936 1937


Selected Asset Items

13. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707).......
14. Cash ....... .. ............. .........................
15. Demand loans 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 ..............................
23. Interest and dividends receivable ...................
24. Rents receivable ....................................
25. Other current assets..............................
26. Total current assets (items 14 to 25) ...........


TOTALS FOR THE UNITEd STATES (ALL REGIONS)
Y .-~ Y


July


Income Items


For the seven months of


1938


-I. 9- 4. -- -- -


78,860,031
.0i
ie,96,46



1,007 ,79

4,05,4972


Balance at end of July
193 8 1937


3655,588,613


*698.713,068


1. Net railway operating income ........................
2. Other income .... ................... ............
3. Total income ...................................
4. Miscellaneous deductions from income .................
5. Income available for fixed charges ..............
6. Fixed charges:
6-01. Rent for leased roads and equipment ..........
6-02. Interest deductions ..........................
6-03, Other deductions ............................
6-04. Total fixed charges .....................
7. Income after fixed charges ......................
8. 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 ........................


Selected Liability Items


27. Funded debt maturing within 6 months* ...............
Loans and bills payable# ...........................
Traffic and oar-service balances payable ...........
Audited accounts and wages payable .................
Miscellaneous accounts payable .....................
SInterest matured unpaid .............................
.Dividends matured unpaid ............................
3. Funded debt matured unpaid ..........................
3. Unmatred dividends declared .......................
.Unmatured interest accrued .........................
37. Unmatured rents accrued ................ .............
38. Other current liabilities ...........................
30. Total current liabilities (items 28 to 38) .....


73,629,190
47277,87,92
IL .3
31,1

d 187. .4 7
117,820,833
7,100,129


1937


Iii*iea0.
11,931,209
453,588,825
87 6.152
#78.0 7,O 9

65,29,984
58,091,104
113,866,385
21,842,030


30,145,2l 59,616,2800
6,572,936 16,924,469


Balance at end of July


1938


$117,151,637


1937


*86,576,546


247, .787 211,07 600
83,03,636



96,83 1 85
2607 7,Q_, 2;,.,D128
20.7.9 2:93 129


2,107,987,582


1,917,884,897


~. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 46,777,06 10, 695
40-02. Other than U. S. Government taxes ........... 155,130,281 145,43,95


ANALYSIS OF NET INCOME s/


Month of July 1936 Month of July 1937 For the seven months of 1938 For the seven months of 1937
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a not deficit a net income a net deficit a net income n: net deficit a net income a net deficit
Nbe 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

50 *16,736,283 8 *0o,691,688 72 *$0,691,050 61 $11,496,085 29 *8,323,50 Ia ( *212,784,618 76 *155,202,631 57 *77,111,527

SRepresents aooruals, inelua -the mount in detault.
* Include payments wbioh wl become due on aooount of principal of long-term debt (other than that in A90ount. 76, Funded debt matufd unpaid) within six month after lose of month
of report,
# Includes obligations which mature not more than 2 years after date of issue.
Sxoludes reports of 3 roads whose net income (or deficit) was absorbed bg the controlling oapany.
Deftoit or other reverse items


Statement No. M-125
JULY, 1938


;-- ... ` ;; --a-?l---~Jr--r*~?ir-n*--~*R----- ----- I- I-~n~71-~~~rr~l~nr~s~fm~mar-c~3*~--; '~. n----~a~B- .1r~cr~i~ ~~rmr~xaal- -:---riri~ r~- -- -- -- -- ---.-~I -1


I


'~ -7~zsrr:- ;n~- ~:
1i


4:,91,675














INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1938 1937 1938 1937

Alton R. R. ...................................... d 21.7 441.997 d 014 6 d 236.33
Atchison, Topeka & Santa Fe Ry. System _/ :....... 1,27b75 6,848,7,11 2 4 ,443,b04
Atlantic Coast Line R. R. ......................... d 0,1 19 701,71 4,329,310
Baltimore & Ohio R. R. ............................ 2.2i d 353.7 d7971 2 3,858,286
Boston & Maine R. R. ........................... 2785 369 51,598,366
Central of Georgia Ry.*............................ d 2.042178 d 101283 d 1. .7 d 553.766
Central R. R. of New Jersey ................ .... d d d 1 888,862
Chesapeake & Ohio Ry. ............................. 7,5699 ) 138,890 17 23,498,409
Chicago & Eastern Illinois Ry.t .................. d 133.830 d 552.3 26d 9801 26
Chicago & North Western Ry.** ..................... d 9.2 1 4 r,
Chicago, Burlington & Quincy R. R. ............... d 1,4Vi.2 1,391,91 1,518,875 4,20 363
Chicago Great Western R. R.*..................... d 79 26 d 1.04.24 d 025
Chicago, Milwaukee, St. Paul & Pacific R. R.t..... d
Chicago, Rock Island & Pacific Ry.-*............... 82
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... 1.9bb,
Delaware & Hudson R. R. ........................... 2 80 898 d 6.4 620,782
Delaware, Lackawanna & Western R. R. ............... 3 365,0d37 O 1,834,986
Denver & Rio Grande Western R. R.*?* ............ 4 d 4 33 d 3 0.169
Elgin, Joliet & Eastern Ry. ............................. ... d
Erie R. R. (including Chicago & Erie R. R.)***.... 8. 32 1,394,844 3,618,409
Grand Trunk Western R. R. ........................ d.600. 11 7.7595 d 684,238
Great Northern Ry. ............................... .2115 1,6, ,56,702
Illinois Central R. R. ............................ .9 9 d 2 012 186 939,4
high 'Valfey-R. R R. .............................. .213 8628,209
Long Island R. R. ..........................d.......... l.o, b,84 5- 78.030
Louisville & Nashville R. R. .................... d 876.926 4,464,911 1,650,346 6,891,105
Minneapolis, St. Paul & Sault Ste. Marie Ry. **.... .d ,6 1 d 93518
Missouri-Kansas-Texas Lines ...................... 2.624.66186 70,962
Missouri Pacific R. R.* ........................ 43 d 169136
New York Central R. R. b/ ........................
New York, Chicago & St. Louis R. R. .............. 42.003 1,510,936 a 1. 7. 6 2,461,542
New York, New Haven & Hartford R. R.. ..........* 8867.6
Norfolk & Western Ry. ............................. 18.
Northern Pacific Ry. ............................. .2 d 54 01112110
Pennsylvania R. R. ............................3 14554 3213454
Pere Marquette Ry. ............................... d 2.551.202 1,284,874110508 2,777,559
Pittsburgh & Lake Erie R. R. ..................... 9 39.:52 2,704,555 21, ,55 ,738,046
Reading Co. ...................................... 9,284 4,791,580 2,260,074 6,599,870
St. Louis-San Francisco Ry.*?...................... d 009123 50056 6.191 1.1
St. Louis Southwestern Lines** .................... d 3 A b1859 ,
Seaboard Air Line Ry.*............................ d 54.52 d 2.144.459 d 3.263. 0 1 1.016.918
Southern Ry. .................................... d 5
Southern Pacific Transportation System c/ ........ 559,784 -,850 5,243,212
Texas & Pacific Ry.............................. 228 6 1,511,184 92 2,191,367
Union Pacific R. R. includingg leased lines) ..... 3,8273613,9,885 8,09,63 7,350,932
Wabash Ry.*.......................................... 4.557. 1 246 .144 d 3302,303 2,325
Yazoo & Mississippi Valley R. R. ................. 570,719

U. S. GOVERNMENT PRINTING OFFICE :1938 -0-77067
Report of receiver or receivers.
** Report of trustee or trustees.
*- Under trusteeship, Erie R. R. only.
a/ 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.
o/ 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. 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. Operations of
all separately operated solely controlled affiliated companies, resulted in a net deficit of $4,177,389 for the
seven months ended July 31, 1938 and *1,764,613 for the seven months ended July 31, 1937, which is not reflected
in this statement."
d Deficit.


II




r ------~-- n .-~.~"...r --m~-F. ;..r*jlI~'P- ~~i~~pY~"D~1. ~ a ~ ~ --mra-~ lir____________________________l--~~,p~.z, r,r-- -i- li -- -.


Subject to vision


UNIVERSITY OF FLORIDA

11111111111 IIII 11111111 I iiiI I 111111iili1i 11i1iii II
3 1262 088510549 INTERSTATE CO (SESE',OMMISSION

-. -*, ...-' u ,-
SELECTED mCOM MRD BAiLANCEJIME iT OttL A I 'tAIl ALWAYS Ii. THE UNIT S'TAts

CBedvoIlm 1 l. (Form 141 stenla l vailwa
SWITCHING AS! T NAE COMPANIES NOT INCLUDED)
< .* & ; '*


.T TA"4 FOR1 UNWi, STATES (ALL REGIONS)
^ ^^ ^ -- ^ A ^. ^ ^ ^M M -c^ ^W -^ ^- ^^ ^*^ ^^ -- i^ ^ ** ^ ^ i^ ^- i^ ^^^*.^*i^^ ^i 1 ^* ^^ ^ ^ ^ ^a ^ -^


NET INCOME
MILLIONS OF DOLLARS


40

ZO .. ----- -------





-40 ---------- --------- --
-20-


I I111 11 1 i I i .1 I I .


1936


1937


1938


For the mdoth of Aug ,
1Bs3&, i 4 1 s t


545,376,615
11,172,638
56,549,253
1,837.999
54,711,254
12,568,642
39,825,950
207,396
52,601,988
2,109,266
1,012,573
1,096, 93
16,919,602
1,788,388

2,764,593
2:593:M


$50,756,742
11,057,193
61,813,935
1,718,572
60,095,363
12,122,544
39,506,126
218,130
53,846,800
8,248,563
1,007,740
7,240,823
16,451,079
3,.50,320

14,70o,457
2,172,630,


Income Items


1.
2.
,3.
4.
5.
6.



7.
8.
9.
10.
11.

.I"2i


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 and equipment .........
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 eight months of


1938


$154,711,s96
91,o65.3
245,777,252
16,037,59
229,739,663
86,198,13Q
0 317,103,846
1,698,896
405,000,872
d 175.261.2
d 183364,495
134,740,433
8,888,517

39,010,134
9,166,3)8


,1937


., 411,208,316
96,12,6554
507,333,970
13,649,781
493,684,189
100,,068,696
$ 318,-03.184
1,830,760
420,202,640
73,481,549
8,149,620
65,331,929
150,317,463
25,382,351


74,324,657
13,097,099


Balance at end of August b Balance at e:d of August
Selected Asset Items Sel ed ility Items
1938 1937 1938 1937
13. Investments in stocks, bonds, etc., other than those 69, 27.lunied-iebt:'atiring within 6 months* ................ $116,938,297 $81,469,198
of affiliated companies (Total, Account 707)........ $653,807,733 699,57,983
28. Loans and bills payable# ............................. 246,548,948 210,648,782
14. Cash ......................................... .. 7,170,299. 29. Traffic and car-service balances payable ............. 73,086,820 79,8,188
15. demand loans and deposits ........................... 10,122,421 17,45,110 1 30. Audited accounts and wages payable ................. 211,694,690 257,82 ,460
16. Time drafts and-deposits .............................. 18,41ol41, I1,56, i.31., Miscellaneous accounts payable ....................... 62,613,571 96,29,620
17. Special deposits ..................................... 64,61 15,002,746 32. Interest matured unpaid .............................. 761,20,284 608,88260
18. Loans and bills receivable ......................... 1, 1 551.,106 33. Dividends matured unpaid ............................. 1,60 ,257 6,70,0
19. Traffic and car-service balances receivable .......... 5 65,63' 57515,696 34. Funded debt matured unpaid ...:....................... 613,014 428 '477, ,951
20. Net balance receivable from agents and conductors .... 4 ,62,987 5,579,153 3. Unatured dividends declared ......................... 11,744,862 15 ,136
21. Miscellaneous accounts receivable .................... 127,728,224 19,931,76 3. Unmatumed interest accrued ........................... 97,350,892 105,926,425
22. Materials and supplies ............................... 337,511,029 :8,425,708 37. Unmatured rents accrued ............................. 32,238,398 33,743,395
23. Interest and dividends receivable .................... 20,246,349 2,720,582 38. Other current liabilities ............................ 22,994,07 22,356,212
24. Rents receivable ..................................... 1,430,777 1,9: 7,140
25. Other current assets ................................. 6,122,287 8,65,211 39. Total current liabilities (items 28 to 38) ...... 2,134,150,557 1,917,351,832
26. Total current assets (items 14 to 25) .......... 1,052,846,505 1,324,329,556 140. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 53,335,225 115,935,213
40-02. Other than U. S. Government taxes ........... 17,499,947 153,782,356

S ANALYSIS OF N9T INCOME a/

Month of August 1938 Month of August 1937 For the eight months of 1938 For the eight months of 1937
Railways reporting Railways reporting Railways reporting 'a "~ lwa reporting' i ilwas rp ting 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 "inbier Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reportsrep repo reports reports reports reports reports

61 $18,022,833 72 $16,926,140 63 $22,576,672 70 ; 1335,849 .32. i38,,32,540 o. o 221,687,035 71 $155,352,707 62 $90,020,778


$ Represents accruals, including the amount in default.
* 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.
- Deficit or other reverse items.


Statement No. M-125
AUGUST, 1938


I ~_


I _


_~ __ _


1..1 .1..1..1..1


.
















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation
Name of railwayFor the eight months of For the eight months of

1938 1937 193 8 1937

Alton R. R. ...................................... d t 55.766 d t76 111.695 d 34o0.19
Atchison, Topeka & Santa Fe Ry. System a/ ........ j d 1%46,549 14,288,699
Atlantic Coast Line R. R....................... d 424 610 4 ,0,916
Baltimore & Ohio R. R. .......................... 123949 d 7,9849 4,4690,127
Boston & Maine R. R. ........................d 2830,199 -42g,960 d1 1,556,407
Central of Georgia Ry? ........................... d 2,264.830 d 1.285989 1. 21 d 760 601
Central R. R. of New Jersey ...................... d 2.68 3922 d 16 16 d !470 -106.99q4
Chesapeake & Ohio Ry. ..... ...................... 9,696,925 2,863913 15,23 27,367
Chicago: & Eastern Illinois R ................. d 156811 633137 d 1.2960 d 22661
Chicago a North Western Ry. ..................... d 12,954911 d 11,485,901 d d 9.576907 d 8164:736
Chicago, Burlington & Quinoy R. R. ............... d43 1,753,782 2,921,646 4,970,435
Chicago Great Western R. R.* ... ................. d 1 .740 d d 7 539161
Chicago, Milwaukee, St. Paul & Pacific R. R. *?... .
Chicago, Rock Island.& Pacific Ry.**.............. d d 4'24.7
Chicago, St. Paul, Minneapolis & Omaha Ry........ d 1:91, 925 d 2. .:999 d I :9i d 1,721,48O
Delaware & Hudson R. R ......................................... 1.011. .1 358,013
Delaware, Lackawanna & Western R. R ............. d 1,457,709
Denver & Rio Grande Western R. R................ d 4. 111 226
Elgin, Joliet & Eastern Ry. ..................... 057,33
Erie R. R. (including Chicago & Erie R. R.)***.... 1,318,071 d 6.576.816 3,859,064
Grand Trunk Western R. R. ........................ d 126 ..07 d 241 313 d 3376 81 453 628
Grest N6thrtR....d.32......8.......... 6,006,741
Illinois Cefitral 'R. Rt. .. ........................... d 2 2,33.536
Lehigh Valley R. R. .................. ...... .. 12 d .9' 2 933
Long Island R,. R. .............. ......... ... d d 03,6
Louisville & Nashville R. R. .............. ....... 27.244 4, ,158 2,608,82 7,700,909
Minneapolis, St. Paul & Sault Ste. Marie Ry..... d228 4.3 d 3.210 938
Missouri-Kansas-Texas Lines -......... ................ 6, 3
Missouri Pacific R, R.*.......................... 2 041 .
New York Central R. R. b/ ........... .......... .515 1
New York, Chicago St. Louis R. R6. .............. 1.915.516 l,185,208 2,941,187
New York, New Haven & Hartford R.- R.............. 35399 8 d -61.303
Norfolk:& Western Byr ............................ .7509 40l, 2,
Northern Pacific Ry .... ........................ d 7676.069 d 2.877.381 d 5 d 724 822
Pennsylvania R. R. ................................ d ,3502 21,00,615 37,595,511
Pere Marquette Ry. .............................. d 274Q.4 1,324,842 1139188 3,029,349
Pittsburgh & Lake Erie R. R. ...........;....... .. ,9 3,195,416 2,112 J15 4,38,679
Reading Co. ....................................... 75,795 5,040,02 2 49705 7, 06,52
St. Louis-San Francisco Ry.* ...................... 8 d 4242.265 d 65 d 2,14 138
St. Louis Southwestern Lines 't .................... d d 658,274 d 257,9
Seaboard Air Line Ry.* ................................... d 2 3.215 d 81.121 1.578.709
Southern Ry. ...................................... -24 4 214
Southern Pacific Transportation System c/ ........ d 3 83,793 5,742,823
Texas & Pacific Ry. ............................ 1,617,165 108 44 291,707
Union Pacific R. R. (including leased lines) .... 6,341 9 5,839,941 1,214:604 10,322,065
Wabash Ry.* ....................................... d 5,114200 d 124274 d 3.679.465 d 396 30
Yazoo & Mississippi Valley R. R. ................. -345.34 '264,012 1_,4 589650

S. S *rIERMElT PRIuTINt OFFICE: IUW0 -7C 7
Report of receiver or receivers.
Report of trustee or trustees.
*** Under trusteeship, Erie R. R. only, .
/ 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.
SIncludes Southern Pacific Company, Texas & Mew Orleans R. R., and leased lines. The report contains the following
information: "Income reported hereon excludes offsetting debits and credits for rent for,,legsed o*ads and equip-
ment and bond interest, between companies included herein. 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. Operations of
all separately operated solely controlled affiliated companies, resulted in a net deficit of *4,598,375 for the
eight months ended August 31, 1938 and #2,1322228 for the eight months ended August 31, 1957 which is not reflected
in this statement.'
d Deficit.


-- -T~I~Ct~L113F-VICC :. i~TI---.---.------~L;IrrZ-iiT 1







Subject to revision


UNIVERSITY OF FLORIDA

IIII II ll 11111 III IIIIM M H11IIIi111111
3 1262 08851 0556 INTERSTATE COMMERCECOMMISSION
BUREAU OI STATISTICS


Statement No. M-125
SEPTEMBER, 1938


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

Compiled from 136 reports (For ) representing 141 steam railways
(SWITCHING AND TE COMPANIES NOT INCLUDED)


TOTALS FOR TIM If 1J STATES (ALL REGIONS)


NET INCOME


1936 1937 1938


For the month of September


1938


$50,362,457
11,289,161
61,651,618
1,976,698
59,674,920
12,620,106
39,546,475
219,192
52,385,773
7,289,147
1,012,574
6,276,573
16,858,614
1,893,802

1,142,445
464,325


1937


Income Items


For the nine months of


1938


.1 14 I. .


$59,621,187
11,8422 3
71:463,610
1,502,309
69,961,301
13,183,559
39,437,135
222,340
52,843,034
17,118,267
1,007,740
16,110,527
16,566,876
3,329,306

5,900,644
1,305,000


1. Net railway operating income .........................
2. Other income ........................................
3. Total income ..................................
4. Miscellaneous deductions from income ................
5. Income available for fixed charges .............
6. Fixed charges:
6-01. Rent for leased roads and equipment .........
6-02. Interest deductions .........................
6-03. Other deductions ............................
6-04. Total fixed charges ...................
7. Income after fixed charges .....................
8. 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 ..........................


205,074,353
307,762,203
18,014,288
289,747,915
98,818,236
0 356,650,319
1,918,088
457,386j643
d 167.6387,28
9,115,860
d 176.754.588
151,599,049
10,782,319


40,152,579
9,630,708


1937


$470,829,502
107,968,076
578,797,578
15,152,090
563,645,488
113,252,253
357,7.o318
2,053,101
47,:045,672
90,599,816
9,157,360
81,42,456
146,884,342
28.711,657


80,225,301
14,402,099


Balance at end of September Balance, at end of September
Selected Asset Items Selected Liability Items
1938 1937 1938 1937
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $78,372,088 $72,395,716
of affiliated companies (Total, Account 707)........ 653,241,394 $697,130,346
28. Loans and bills payable# ............................. 242,689,641 210,501,064
14. Cash ................................................. 409,353,412 448,660,657 29. Traffic and car-service balances payable ............. 73,82,505 81,51,381
15. Demand loans and deposits ............................ 9,82,587 16,975,622 30. Audited accounts and wages payable .................. 219,559, 71 258,96 ,652
16. Time drafts and deposits ............................. 18,522,021 40,782,230 31. Miscellaneous accounts payable ..................... 70,500,819 102,556,19
17. Special deposits ..................................... 61,794,277 142,111,136 32. Interest matured unpaid .............................. 788,925,408 633,596,490
18. Loans and bills receivable 1.........................1,554,921 10,653709 33. Dividends matured unpaid ............................. 9,278056 12,988,519
19. Traffic and car-service balances receivable ......... 53,12,311 60,064,079 34. Funded debt matured unpaid ........................... 628,289,618 476,891,340
20. Net balance receivable from agents and conductors .... ,920,206 54,891,319 35. Unmatured dividends declared ......................... 1,188,977 2,379,597
21. Miscellaneous accounts receivable .................... 126,939,669 141,666,350 36. Unmatured interest accrued ........................... 91,210,531 100,9,9
22. Materials and supplies ............................... 329,887,139 383,794,201 37. Unmatured rents accrued .............................. 30,680,705 32,U9,
23. Interest and dividends receivable ................... 21,062,616 24,844,808 38. Other current liabilities ............................ 27,536,862 26,082,058
24. Rents receivable ..................................... 1,520,528 2,193,446
25. Other current assets ................................. 6,515,426 8,762,789 39. Total current liabilities (items 28 to 38) ...... 2,183,342,593 1,938,543,953
26. Total current assets (items 14 to 25) ........... 1,088,307,113 1,335,400,346 40. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 53,803,726 113,907,402
40-02. Other than U. S. Government taxes .......... 169,452,893 158,665,498

ANALYSIS OF MET INCOME a/

Month of September 1938 Month of September 1937 For the nipe months "a 1938 For the nine months of 1937
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

63 $23,440,085 70 $17,163,512 68 $28,086,736 65 $11,976,209 37 $53,592,325 96 $230,346,913 71 $179,999,371 62 $98,556,915

6 Represents accruals, including the amount in default.
*Includes payments which will become due on account of principal of long-term debt (other than that in Account 764, Funded debt matured Uapsid) 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.
SDeficit or other reverse items.


- ------ ~


TI I


_















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1938 1937 1938 1937

Alton R. R........................................ d .3762 711. 430 j15j300 d $444,696
Atchison, Topeka & Santa Fe Ry. System a/ ........ ,2506,040,192 14,94
Atlantic Coast Line R. R. ........................ d 1.51.385 2,403,067 109,985 3,921,577
Baltimore & Ohio R. R. ............................ d 12.54 483,135 d 7.061.317 5,902,577
Boston & Maine R. R. .............................. 3,59093 355,461 d 2,359,542 1,563,505
Central of Georgia Ry.* ........................... d 2,444.016 d 1.49.758 d 1.80,6 d 901.808
Central R. R. of New Jersey ...................... d 2.991153 d 1.186,246 1.930,083 d 111,54
Chesapeake & Ohio Ry. ............................ 12,859289 25,220,9 19,2,782 31,411,966
Chicago & Eastern Illinois Ry ................... 1.5.631 64176 d 1.050,501 d 182.260
Chicago & North Western Ry.* ..................... d 1345544 d 12.352 0 d 9.656,'275 8,609,331
Chicago, Burlington & Quincy R. R. ............... 399,966 2,310,049 4,209,993 5,934,166
Chicago Great Western R. R..................... d 1.320.611 d d 917.230 88.247
Chicago, Milwaukee, St. Paul & Pacific R. R.*'.... d 15046.763 d 11. 64081 d 6.188,1
Chicago, Rook Island & Pacific Ry.**............... dId 4i 2 d 5 4560.2
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... 1 7 2519 4
Delaware & Hudson R. R. .......................... d 6 6 88 21 1233,281
Delaware, Lackawanna & Western R. R. ............. 1,518,45
Denver & Rio Grande Western R. R.**................ d r458.8 d 1d .562.5 A 4.m948
Elgin, Joliet & Eastern Ry. ...................... 1,8,022 271915, ,0
Erie R. R. (including Chicago & Erie R. R.)**.... d 9.78.4911 1,121,253 d 6.979.361 3,979,072
Grand Trunk Western R. R. ..................... .. 4.58.998 d 25,439 d 3406 255,861
Great Northern Ry. ............................... 2.56.70 6,955,666 221,67 9,682,471
Illinois Central R. R. ........................... d 1..30.398 3,518,00021,51
Lehigh Valley R. R. ............................... .22 3 1 d ,5 19 690,854
Long Island R. R. ................................ 1. 581.5 6 575.174
Louisville & Nashville R. R. ..................... 619,252 5,717,803 3,866,44o 8,843,829
Minneapolis,. St. Paul & Sault Ste. Marie Ry.*..... d 5176.50 d 3.992.632 d 3.108.427
Missouri-Kansas-Texas Lines ...................... d 08216 d 1 70 26.88 119 911
Missouri Pacific R. R........................ ... 12114d 8 198 d 2.514 220
New York Central R. R. b/ .................... d 23 9.359.595 19,274,242
New York, Chicago & St. Louis R. R. ............... 1.84814 2,009,029 52.964 3,237,545
New York, New Haven & Hartford R. R.** ........... d .0d 4.63 141 2097.2
Norfolk & Western Ry. ............................ 11,459,233 15,201256 27,446,529
Northern Pacific Ry. ........................... d 7.12.066 d 2.081 2 4577576 43,829
Pennsylvania R. R. ................................ 2,098,03 24,448,020 21,175,366 43,143,542
Pere Marquette Ry ............................... d 2.713557 1,372,572 d 913.442 3,288,608
Pittsburgh & Lake Erie R. R. ..................... 909,44 ,706,052,592,24 5,098,086
St. Louis-San Francisco Ry."*..................... d 91533.111 d .854.474 d7.188.634 d 2.,92.650
St. Louis Southwestern Lines e 2 .................... 1,299.223 d 7.454 a $33,247 d 29.629
Seaboard Air Line Ry............................. d 61 03 3.4.473 d 4618802 d 2.112.071
Southern Ry. ...................................... 1 6 541 2
Southern Pacific Transportation System c/ ........ i 9524.480 1524 7 566 198
Texas & Pacific Ry. .............................. 50 8 1,709,280 14032,578,156
Union Pacific R. R. (including leased lines) .8,746,408 8,982,521 14,229,333 14,057,793
Wabash Ry......................................... .8282.18865 3.35 d 551.516
Yazoo & Mississippi Valley R. R. .................... A 4. 6 392 5,10 988,156

U. S. GOVERNMENT PRINTING OFFICE :1938-0- 77067
Report of receiver or receivers.
** Report of trustee or trustees.
s** Under trusteeship, Erie R. R. only.
a/ Includes Atohison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SIncludes Boston & Albany, lessor to New York Central R. R.
SIncludes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: "Inoome reported hereon excludes offsetting debits and credits for rent for leased roads and equip-
ment and bond interest, between companies included herein. Interest on bonds of, and rental income from, sepa-
rately 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. Operations
of all separately operated solely controlled affiliated companies resulted in a net deficit of $4,991,216 for the
nine months ended September 30, 1938 and $2,579,473 for the nine months ended September 30, 1937 which is not
reflected in this statement.'
d Deficit.





6 I6f-e. $ / 38



Subject to revision

UNIV. OF FL LIS.




U.S. DEPOMITORY


UNIVERSITY OE FLORIDA

11111 m1 11111ii iii ill II ii 111I
3 1262 08851 1463

INTERSTATE ,COMMERCE COMMISSION'
BUREAU OF STAISTCS

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

Compiled from 136 reports (Form IBS) representing 141 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MI L IONS OF DOLLARS


I i I I I II I I I



V V




, ..-- -- .-- -. --- --,


1936


1937


1938


*1


For the month of October


1938


1937


Income Items


For the ten
1938


___________________ .1 1 I,


$68.565.755
11,669,87
80,235, 602
1,892,288
78,343,314
13,184,291
39,868,306
207,611
53,260,208
25,083,106
1,015,275
24,067,831
16,995,283
3,145,989


107,911
813,142


$60,860,441
10,980,476
71,840,917
1,658,520
70,182,397
12,435,269
39,41.81,517
219,602
52.,1 ,388
18,046,009
1 010:44
17,035,567
16:737,621
2,774,426,

2,109,994
6,231,333


1. Net railway operating income ........................
2. Other income ........................................
3. Total income ...................................
4. Miscellaneous deductions from income ................
5. Income available for fixed charges .............
6. Fixed'charges:
6-01. Rent for leased roads and equipment .........
6-02. Interest deductions. ........................
6-03. Other deductions ............................
6-04. Total fixed charges ....................
7. Income after fixed charges .....................
8. 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 ..........................


$273,709,013
388,066,708
19,906,576
368,160,132
112,002,528
0 396,518,625
2,125,699
510,646,852
d 142.486.720
10.131,135
d 152.6l7.815
168,594,352
13,:884,6


40,260,490
10,443,850


months of
1937


$531,689,944.
118.948,553
650,638,497
16,810,611
633,827,886
125,687,525
t 397,221,833
2,272,703
525,182,061
108,65,825
10,167:802
98,478,023
163,621,961
31,486,083


82,335,295
20,633,432


Balance at end of October Balance at end of October
Selected Asset Items Selected Liability Items
1938 1937 1938 1937
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $91,357,025 $81,286,168
of affiliated companies (Total, Account 707)........ $652,009,731 *692,805,749
S28. Loans and bills payable# ............................. 247,066,614 210,062,762
14. Cash ................................................ 445,042,109 464,6,177 29. Traffic and car-service balances payable ............. 82,734,565 88,130,321
15. Demand loans and deposits ............................ 10,669,981 18,54,793 30. Audited accounts and wages payable ................... 247,898,005 264,380,03
16. Time drafts and deposits ............................. 19,325,805 3,',91 31. Miscellaneous accounts payable .......................60,529,420 102,760,51
17. Special deposits ..................................... 54,781,891 12 2 32. Interest matured unpaid .............................. 788,761,404 633,040,867
18. Loans and bills receivable ........................... 1,224,662 10,66, .33. Dividends matured unpaid ............................. 1,877,734 3,389 200
19. Traffic and car-service balances receivable .......... 62,580,637 65,361,89 34. Funded debt matured unpaid ........................... 629,468,024 464,81,613
20. Net balance receivable from agents and conductors .... 52,14, 215 53,509,9 35. Unmatured dividends declared ......................... 1,01,463 6,363,275
21. Miscellaneous accounts receivable .................... 129,6,762 13,501,6 36. Unmatured interest accrued ........................... 93,988,46 102,552,031
22. Materials and supplies ............................... 322,796,569 384,76,0o 37. Unmatured rents accrued .............................. 35,918147 38,114,951
23. Interest and dividends receivable .................... 22,35530 25,645,200 38. Other current liabilities ........................... 2,579,583 25,290,192
24. Rents receivable ..................................... 1,520,674 2,297,911
25. Other current assets ................................. 6,99,755 9, ,612 39. Total current liabilities (items 28 to 38) ...... 2,213,836,305 1,938,268,787
26. Total current assets (items 14 to 25) ........... 1,129,050,518 1,541,706,604 40. Tax.liability (Account 771):
40-01. U. S. Government taxes ...................... 47,717,226 117,]24,136
40-02. Other than U. S. Government taxes ........... 158,962,908 159,623,461

ANALYSIS OF NET INCOME a/

Month of October 1938 Month of Octoab / '1937 For the ten months of 1938 For the ten months of 1937
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 iE net deficit a net indcme 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

81 $32,108,958 52 $8,041,127 73 $27,408,976 :.6 10,373,1409 47 *76,976,973 85 $229,594,84 71 $204,909,280 62 l106,431,257

6 Represents accruals, including the amount in default.
Includes payments which will become due on account of principal of long-term debt (other than that ih 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: f issue.
a/ Excludes reports of 3 roads for the months of October, 1938 and 1937, 4 roads for the ten months ended with October 1938 and 3 roads for the ten months ended with October 1937 whose
net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


Statement No. M-125
OCTOBER. 1938


40

20

0,

-20

-40


4-CC~~'CFa --~U.-~r ;-riyP~i~-il~-:- r ------ ---- -'---















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1938 1937 1938 1937

Alton R. R. ....................................... d $1.4 8.3 d 709.828 1 1 d
Atchison, Topeka & Santa Fe Ry. System a/ ........ 5,110,190 6, ,39 15, 1598,65
Atlantic Coast Line R. R. ........................ d 2,19680 8 3
Baltimore & Ohio R. R. ............................ d 1 573,63 a 6600,794
Boston & Maine R. R. .............................. .239221,440 2.1 1,563,689
Central of Georgia Ry.............................. d 118 40.181 d1. 8S.09 1.17020
Central R. R. of New Jersey ...................... 90
Chesapeake & Ohio Ry. ............................. 8b
Chicago & Eastern Illinois Ry.'**................... d .3366 d 4 .Z 1
Chicago & North Western Ry. .......................d 1.63121 12596 d 9413 920
Chicago, Burlington & Quincy R..R............ 1,755,472 3,322,655 5,996,333 7,359,317
Chicago Great Western R. R.' ..................... 1M .2 7 d I 7.73 d 76
Chicago, Rock Island & Pacific Ry."*............... I0 199 4973
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... d ii3 .302 iOS
Delaware & Hudson R. R. .......................... d 640 106 d 63.8 230,730 267,479
Delaware, Lackawanna & Western R. R. ............. d d 182.740 1,835,47
Denver & Rio Grande Western R. R.**................ S. 6 8d 41 6
Elgin, Joliet & Eastern Ry. ...................... 16 54, 1,
Erie R. R. (including Chicago & Erie R. .... 9. 630 ~1,527,033 d 6.532.356 4,701,285
Grand Trunk Western R. R. ........................ Zd 4.783.66227 d 4 d 3-47,450
Great Northern Ry ................. .......... d 9 8800 911835,523
Illinois Central R. R. ............................ d 6 225471805 4 821.152
Lehigh Valley R. R. .............................. d 3. d 60 d 1.10.9379614
Long Island R. R. ................................ dd a 11i!395 &J 631,.28 d 660.802
Louisville & Nashville R. R ..................... 1,7685 6595091 5,72,4 10,07I:594
Minneapolis, St. Paul & Sault Ste. Marie Ry. .... d .483 d 4.349.833 d 4 94 d 3.36632
Missouri-Kansas-Texas Lines ...................... d 3.23 9 d 21
Missouri Pacific R. R?............................ 1
New York Central R. R. b/ ....................... 8. 1
New York, Chicago & St. Louis R. R. .............. 1.55.672,130,9768 60 00,715
New York, New Haven & Hartford R. R5............5 .d239212
Norfolk & Western Ry. ............................... ,5 1474 28i87493 85 516
Northern Pacific Ry. .............................. 1 d 4036 1,101,993
Pennsylvania R. R. ................................ 5558828085 26,95,348,939,517
Pere Marquette Ry. ............................... 2.47004 1,628,810 d 475.685 3760,431
Pittsburgh & Lake Erie R. R. ...................... 1,4208 3,897,632 ~ 2129 5,486,671
Reading Co. ....................................... 2,171,505 6,134,661 4,78, 512 8,714,776
St. Louis-San Francisco Ry ..................... 5.79.366 732.241 2,853.711
St. Louis Southwestern Lines*. ................... 680. 015 d o609472 d. 1 852
Seaboard Air Line Ry.* ............................ d 6.610068 d 4.243.565 d 4.908.39 d 2.612.52
Southern Ry. ..................................... 2 ).34 l1,0%46,996 170,235 3,647,172
Southern Pacific Transportation System g/ ........ 2,161,027 d 68.526 8,893,999
Texas & Pacific Ry. ...............................7 8 1,945,246 -1779,O94 2,907,259
Union Pacific R. R. (including leased lines) ..... 11,76,5 12,326,712 17,860,194 17,989,416
Wabash Ry .................................... d 5.601.104 d 2514,894 d 3.808.261 d 728.220
Yazoo & Mississippi Valley R. R ................. 878,98 445,849 1,291,086

UIS. OVERNNENT PUNTING OFFICE: 1M-0-77067


*
**
***
I)I
s/1)


Report of receiver or receivers.
Report of trustee or trustees.
Under trusteeship, Erie R.R. only.
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, 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 sepa-
rately operated solely controlled affiliated companies during period January 1lto 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 affil-
iated companies, resulted in a net deficit of $5,335,526 for the ten months ended October 31, 1938, and 02,985,178
for the ten months ended October 31, 1937, 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 sudh
companies mentioned hereinbefore."
Deficit.








Subject to -evision


UNIVERSITY OF FLORIDA

11111111111111111111 1 1 NIII 315 1
3 1262 08851 1315


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
NOVEMBER, 1938


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

Compiled from 136 reports (Form BS) representing 111 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

- TOTALS FOR THE UNITED STATES (ALL REGIONS)


NMT INCOME
MILLIONS OF DOLLARS


1 1 I I I II '' '


4U


20--- -




-C -
-AO II II II It I


1936


1937


1938


Selected Asset Items


13. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707)........
14. Cash ..............................................
15. Demand loans and deposits ...........................
16. Time drafts and deposits ............................
17. Special deposits ....................................
18. 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 ...................
24. Rents receivable ....................................
25. Other current assets ................................
26. Total current assets (items 14 to 25) ..........


For the month of November


1938
$49,664,679
12, 36,993
62,o34,672
1,885,351
60,149,321
12,026,472
39,479,545
208,593
8, 4,711
1, 12,574
7,422,137
16,665,345
2,801,452

16,199,128
2,262,088


Balance at end


1938


$652,071,263


470,994,318
11,424,799
19,527, 552
50,488,541
1,195,887
59,765,118
4i7
32lS, 32;i
25,202,612
1,527,140
6,956,673


1,140,865,771


1937

S .74{
47,633.838
1,698,153
45,935,685
10,800,824
39,463,177
213,357
50,1477.35

d 5.549,413
16,570,104
1,118,787

39,943,827
5,539,082


of November


1937


$686,302,339


459,213,827
17,048,268
3,616,837
10, 495,2
.794,0913
,663,090


2,346,621
8,930,900


I-


1,279,195,825


Income Items


1. Net railway operating income ........................
2. Other income ........................................
3. Total income ...................................
4. Miscellaneous deductions from income ................
5. Income available for fixed charges .............
6. Fixed charges:
6-01. Rent for leased roads and equipment .........
6-02. Interest deductions .........................
6-03. Other deductions ............................
6-04. Total fixed charges ....................
7. Income after fixed charges .....................
8. 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 ..........................


*1 *l. -----


Selected Liability Items


21.

3.
3T.
32.
33.
34.
35.
3S.
37.
38.


Funded debt maturing within 6 months* ................
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 ...........................


39. Total current liabilities (items 28 to 38) .....


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


For the eleven months of


1938
*323,352,127
126,667,60o
450,019, 731
21,791,927
428,227,8014
124,029,000
o 435,998,167
562, 34, 92
& 13 3T. 5
d11,14 ,70
d 14.5,277.364
185,259,676
16,686,092


61,946,183
12,705,938


1937
$564,209,08
154,06,294
698,272, 32
18,508,763
679,763,569
136,488,350
S436,685,008
2,486,060
57Z,654,418
10 ,101 1,1
11,175,:42
92,928,9
180,192,065
32,604,870

122,279,122
26,172,515


Balance at end of November


1938


$178,977,964


243,867,060
78,833,645
228,659,942
64,931,216
792, 6,019
1,668,44
627,891,424
2 2,36,523
107,89 ,476
39,992,198
23,505,625


2,234,030,577


.I- - rI. I


54,899,192
147,788,700


193 7


$94,925,213


211,578,226
78,886,15
304,022, 6
68,951,798
632,2,5124
81,8,00
464,778,222
53,819,282
116,]36,391
39,626,48
18,668,004
1,990,7410,071


ANALYSIS OF NET INCOME a/

Month of November 1938 Month of November 1937 For the eleven months of 1938 For theeleven months of 1937
Railways reporting Railways reporting Railways reporting Railways reporting railways reporting Railways reporting Railways reporting Railways reporting
a net income a nnet income 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 M reports.

69 $21,779,131 63 $14,356,994 53 $13,195,956 80 $18,745,369 48 $95,062,192 84 $240,339,556 69 $214,687,227 64 $121,698,618

0 Represents accruals, including the amount in default.
* 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 4 roads for the month of November 1938, 3 roads for the month of Noyeboer 1937, 4 roads for the eleven months ended with November 1938, and 3 roads for the eleven
months ended with November 1937 whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


"T 77- 7


I I


1 -I


I


--


77 ,















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS
WITH ANNUAL OPERATING REVENUES ABOVE $25,000,000
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1938 1937 1938 1937

Alton R. R. ...................................... d $1,485.172 d $844.622 d $1.202.865 d $516.627
Atchison, Topeka & Santa Fe Ry. System a/ ...... 6,28,90 62 1O4 17 16 ,909722
Atlantic Coast Line R. R. ........................ d 1284,351 2,723,634 631,557 4,57,14
Baltimore & Ohio R. R ........................... 9 332,996 d 6.207,286 6,971,214
Boston & Maine R. R. ............................ d 92.534 3370556 1,383,133
Central of Georgia RyP ........................... d 2,768,365 d 2,131.374 d 1.983.010 d 1.398,785
Central R. R. of New Jersey ...................... d 3,786,624 d 1.680 064 d 2 488 04 68,24
Chesapeake & Ohio Ry. ............................ 19,115024 3174756 39,323,212
Chicago & Eastern Illinois RyP* ................... d 1.451~801 644 62
Chicago & North Western RyP*..................... 2, 91 71
Chicago, Burlington & Quincy R. R. ............... 2,699,847 4,016,770 7,372,568 8,457,053
Chicago Great Western R. RV*....................... d 1.151.494 897.531 d 67 d 4086
Chicago, Milwaukee, St. Paul & Pacific R. R.*...... 1 d 1
Chicago, Rock Island & Pacific RyP*................ d 1 a 9 i3 4 760
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... 250719 24 19 84 188 51
Delaware & Hudson R. R........................... d 439649 d 757.566 51,4 211,347
Delaware, Lackawanna & Western R. R. .............. d 777. d d 1.516.869 1,727,087
Denver & Rio Grande Western R. RI*................ d5,420,8 5.4 72 4 322, 20 d 4.371,541
Elgin, Joliet & Eastern Ry ............... .. d 14 1 100 730 2506,152
Erie R. R. (including Chicago & Erie R. R.)*.... 610,311 6867,185 4,100,492
Grand Trunk Western R. R. ........................ d 496996 d 845798 d .92777 126,640
Great Northern Ry. .............................. 207,993 9,215,999 18984 12,562,152
Illinois Central R. R. ........................... 591,898 d 192005 6550,032 5,517,247
Lehigh Valley R. R. .............................. d 3.587874 d 1222.b62 d 1 O .25- 835,644
Long Island R. R. ................................ 95,265 d 1.94b9 d 876.313
Louisville & Nashville R. R. ..................... 2,347,582 6,890732 6,320,29 10,733,935
Minneapolis, St. Paul & Sault Ste. Marie Ry*...... d 6047.829 d 4.898.14 d 4.922452 d 3813793
Missouri-Kansas-Texas Lines ...................... 6 46 3192
Missouri Pacific R. Rp*........................... d 9 66 6 3.522 3
New York Central R. R. b/ ....................... d 2 6,9 378 5bl321,654,033
New York, Chicago & St. Louis R. R. .............. 1.351.22 2,424,945 163,473 3,937,207
New York, New Haven & Hartford R. RP.*............. d 6 000 d 8.411 5 d 352.963
Norfolk & Western Ry. ............................. 181 21 331, 536
Northern Pacific Ry. ............................. d 735.d 1966 5 d 4.232683 1,016 16
Pennsylvania R. R. ............................... 339127,887,4 31,694,723 50,785,147
Pere Marquette Ry. ............................... d 2.336.706 1,661,901 d 138.193 4,010,819
Pittsburgh & Lake Erie R. R. ..................... 1518,651 4,00oo,628 3,575,439 5,784 686
Reading Co. ...................................... 2,563,327 6,383,191 5,439,725 9,219,969
St. Louis-San Francisco Ry ...................... 10 31 d 6 82 d 7.962.150 d 631925
St. Louis Southwestern Lines .................... 1714 2,1 d 278,564
Seaboard Air Line Ry. *............................ d 7.271.701 4.915.242 d 599 d 115.11
Southern Ry. ..................................... d 21164 756,2657 3,613 339
Southern Pacific Transportation System c/ ........ 7 1,122,601 266,126 8,543983
Texas & Pacific Ry........... ................ 116532 2,374,505 2,261,997 3, 31,349
Union Pacific R. R. (including leased lines) 14... 14,799,063 14,745,034 21,500,782 21,002,229
Wabash Ry ....................................... d 5.927.023 d 2.882.421 d .5501 d 16450
Yazoo & Mississippi Valley R. R. ................ 1,205,201 ,052 1,0,795


U.S. VU. I nuT PnmlMNu ONFIs 1ot --I


U.S. GO NENT PRINTING OFFICE: 1939-0 77067


Report of receiver or receivers.
Report of trustee or trustees.
Under trusteeship, Erie R. R. only.
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, 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 sepa-
rately 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 affil-
iated companies resulted in a net deficit of $5,716,658 for the eleven months ended Namober 30, 1938 and $3,372,500
for the eleven months ended November 30, 1937, 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."
Deficit.


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