Selected income and balance-sheet items of class I steam railways in the United States - 1939

MISSING IMAGE

Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1939
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:
1939
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:
AA00000587:00007

Related Items

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

Full Text



Subject to revision


UNIVERSITY OF FLORIDA

3 1262 08851 1018


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
JANUARY, 1939


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


Compiled from 135 reports (Form IBS) representing 140 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLAR


1 11 1


V o4
-O / ----


-40 -


I I


h I I ItII 111111


I I I I I. I I I I a I I I I t I 1 I N a a .


1937


1938


1939


For the month of January


1939


832,900,719
12,308,292
45,209,011
2,153,415
43,055,596
10,834,581
38,799,996
S181,174
49,815,751
d 6.760.155
d 8,721,320
16,80o4,309
2,037,096

1,502,715
955,772


1938


Income Items


For the


1939


I- I -- ---I


$7,144,025
12,673,274
19,817,299
2,256,628
17,560,671
10,274,932
S 39,368,41.3
295,0: 5
49,868,:03
d 322507.723

d 335.20.304
16,75,963
1,26,1185

4,208,4157
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:
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 .........................


-- months of


1938


Balance at end of January Balance at end of January
Selected Asset Items Selected Liability Items
1939 1938 1939 1938
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* .............. 189,339,804 $101,293,185
of affiliated companies (Total, Account 707)........ $648,741,252 $661,289,371
28. Loans and bills payable# ............................. 243,772,142 223,182,643
14. Cash ................................................ 47,623,771 336,589,996 29. Traffic and car-service balances payable ............. 74,972,369 69,035,994
15. Demand loans and deposits ............................ 16,O61,38 15,218,812 30. Audited accounts and wages payable ...... .........242,120,041 24,76,020
16. Time drafts and deposits ............................. 19,540,42 29,266,014 31. Miscellaneous accounts payable ......................59,5468 60 67,709
17. Special deposits ..................................... 55,708,954 63,731,482 32. Interest matured unpaid ............................. 809,459, 662,65 12
18. Loans and bills receivable ........................... 1,14,561 3,856,398 33. Dividends matured unpaid .............................3,084,904 5,739,42
19. Traffic and car-service balances receivable .......... 58,426,095 51,975,5 1 34. Funded debt matured unpaid ........................... 630,502,034 506,309,059
20. Net balance receivable from agents and conductors ... 5,828,306 2,200,4f 35. Unmatured dividends declared ........................ 2,048,703 4,393,31
21. Miscellaneous accounts receivable ................... 123,887,415 138,847,3 36. Unmatured interest accrued ........................... 95,892,289 96,492,3U
22. Materials and supplies .............................. 318,804,040 383,383,686 37. Unmatured rents accrued .............................. 27,578,188 25,918,598
23. Interest and dividends receivable .................... 15,773,86 20,379,773 38. Other current liabilities ............................ 22,198,982 18,819,165
24. Rents receivable .....................................1,199,068 1,039,215
25. Other current assets ................................. 3,210,623 4,255,803 39. Total current liabilities (items 28 to 38) ...... 2,211,176,065 1,922,082,801
26. Total current assets (items 14 to 25) ........... 1,107,204,979 1,090,744,494 40. Tax liability (Account 771):
40-01. U. S. Government taxes ..................... 46,055,245 57,796,299
40-02. Other than U. S. Government taxes .......... 137,621,109 138,739,358

ANALYSIS OF NET INCOME a/

Month of January 1939 Month -of January 1938 For the --- months of 1939 For the --- months of 1938
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

62 811,716,262 70 $20,437,582 34 $4,938,935 98 838,259,239 No cumulat ons No oumulat one


SRepresents 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.
SDeficit or other reverse items.


I I


I I111111


I


SI I I 1 I It


V
1 1 I I 1 1 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
Name of railway For the month of January For the month of January

1939 1938 1939 1938


Alton R. R .....................................
Atchison, Topeka & Santa Fe Ry. System / ........
Atlantic Coast Line R. 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 & Quincy R. R................
Chicago Great Western R. R.*....................
Chicago, Milwaukee, St. Paul & Pacific R. R....
Chicago, Rock Island & Pacific Ry*..............
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. P-"....


Grand Trunk Western R. 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 *m....................
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. .................


'77, 6d
d 616.823
3--VV


27,262
d 111.3

d 297,06b
226,112
9,005
d 345,795
240,419
d 419,760


d 71 .37
-- o
d 276,100
642,032
d 730.858
d 38 ,078
d 735,529

53,513
d 393.857
2,004,522
d 854,683
1,103,446
d 10.615
--162,034
366,362
d 1.122,01a

d 411,80s
11,156
d 1,333,072
35,9235
790,227
d 444,519
d 112,o;;


d 9165.297

1,06,6222
d 2.11g.536
d 534,394


d 5%4.7S7
1 "37.02
d 1 18849
d 229.17


d 3706



d 1.5J59540
d 1.423.3642
d 1,615,474
d 405. 726
^54,



d 2,606,514
d 41,.6g2
213,627
d 851,922
d 1,908


d 1173.60

525,114
d 15.70
0I8,1


8,976
d 66.682



311,352
212,679
d 244.74
d 113,179
d 120.584

215,242
d 178,119
1,002,989
d 628.361
a
d 753,055
580,942
186,152
d 110.732
2,419,1i9
35,248
187 452
348,814
626,332
d 865.970
a 136b169
d 234.184
2 95, 37
S 672,439
1,422,391
d 265,896
d 72l76


1,20


d 260.36
2,03,35


d 195.289
d 1 4
d
d 43.41
d 633,646
d 410.207
d 1,401.23
500,69
d 3.183
T 131 463


a 227.684
di 892!482r
d 1,1 5,146
d l.l~l".l846
416 781
a 186.941
134,26
311,J72
d 1.078.73

d 484.274
d 739.190
56:8SF
831,845
d 672,619
J9,781


Report of receiver or receivers. U.S. GOVERNMENT PRINTING OFFICE 1939-0-77067
** 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.
b/ 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 $536,703 for January
1939 and $589,937 for January 1938, which is not reflected in this statement."
d Deficit.


d 681.093

S1.844.59,






Subject to revision


UNIVERSITY OF FLORIDA
IIIii i I111I1111 Ii1I11111I1111111111111il11111111111 f liTElH IC OM MEC O1'Ci II I4II Oir J
3 1262 08851 1174 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


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


1


UNIV. OF FL LIB.




U.S. DEPOiTORY


Compiled from 135 reports (Form IBS) representing 140 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


TOTALS FOf THE UNITED STATE$ (ALL REGIONS)
For the month of February For the two months pf
NET INCOME Income Items
MILLIONS OF DOLLARS 1939 19 1939 198
S II ,I I D iRS I l| i II $18 DO,727 a .-9Q.126 1. Net railway operating income ......................... 51491,7 7 $5.254,900
9,17,761 10 82950 2. Other income ........................................ 22 156, 051 23,056,227
40 28, 438,48 8:73:824 3. Total income ................................. 732,6,498 28,2J91,27
1,84,044 1,993,841 4. Miscellaneous deductions from income ................. 4,137,456 4,2 ,471
e A 26,454,444 6,79,983 5. Income available for fixed charges .............. 69,510,042 24,0O656
6. Fixed charges:
10,175,076 10,274,546 6-01. Rent for leased roads and equipment .......... 21,09,7 20, 9,.40
39,9935 39, 81,621 6-02. Interest deductions ......................... 0 79,19977 78,,7046
0 --- ---- -- ------ 8 0 215,8 6 6-03. Other deductions ............................ 361,645 0, 4
980 1 4,872,013 6-04. Total fixed charges ................... 100,569,279 99,740,0
-20 4 7. Income after fixed charges ......................d 31. 59.2l7 d 75.6 .7
---- ----- ---- -----012, 8. Contingent charges ................................... 2 026,2602 ,1i7
3 178 A. 44.404L .60 9. Net income ...................................... i.3.086. 9 724
-40 -- -- --- --------- -- 16,724,003 16,698,450 10. Depreciation (Way and structures and Equipment) ...... 3,528,311 33,452,410
Si i ii i lI II Ii II1 11 Im I 1,527,875 778,548 11. Federal income taxes ................................. 3,56,971 2,239,633
1937 1938 199.q 12. Dividend appropriations:
10,788,79 1, 162e,485 12-01. On common stock ............................. 12,291,4?4 17,3~0,900
_2,6)1,1;7 :583,169 12-02. On preferred stock .......................... 3,56,9 9 ,2,87

Selected Asset Items Balance at end of February Selected Liability Items Balance at end of February
Selected Asset Items Selected Liability Items
1939 1938 1939 1938
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $66,235,787 $180,147,832
of affiliated companies (Total, Account 707)......... $648,404,264 $662,129,970
28. Loans and bills payable ................................ 1,091,o 29 229,21 ,737
14. Cash ................................................. .45,93,92 30,50,616 29. Traffic and oar-service balances payable ............73,260,168 315
15. Demand loans and deposits ............................. 15, 21,38 351 11,333 30. Audited accounts and wages payable ................... 225,999 95 2,932,761
16. Time drafts and deposits ............................. 1911, 21205,022 31. Miscellaneous accounts payable ....................... 6,52,58 6,706,213
17. Special deposits..................................... 5,6, 63,99 0 32. Interest matured unpaid .............................. 832, 80 683,32,030
18. Loans and bills receivable.. ...........................,0,581 43,707,58 33. Dividends matured unpaid .............(items 28 to 38) ...... 22.... 1,867,219 1,956401825
19. Traffic and car-service balances receivable .......... 56,60 4,06 5149,757,613 34. Funded debt matured unpaid ........................... 641,71262, 239 507,0 4, .
20. Net balance receivable from agents and conductors .... 1.6,65 0 ,141,99r1 ,919 35. Unmatured dividends declared ...........................16931 1, 915,613,6.1
21. Miscellaneous accounts receivable ....................122240970 135306,588 36. U-matured interest accrued ..........................95,16,19 936,317
22. Materials and supplies ............................... )23,582,673 3,646,515 37. Unmatured rents accrued ............................. .1232,288,610
23. Interest and dividends receivable....................5, 1 2 1189 38. Other currentliabilities........................... 2 ,9,2
24. Rents receivable ...................................... 1,194,268 33121229
25. Other current assets ...................................3,316,381 14,066,556 39. Total current liabilities (items 28 to 38) ..... 2,251,867,219 1,956,1401,825
26. Total current assets (items 14 to 25) ........... 1,108,252,693 1,059,266,122 40. Tax liability (Account 771): 7
40-01. U. S. Government taxes ..................... 51,730,934 61,77,669
40-02. Other than U. S. Government taxes ........... 139,707,804 142,327,078

ANALYSIS OF NET INCOME a/

Month of February 1939 Month of February 1938 For the two months of 1939 For the two months of 1938


nailways reporting
a net income


Number
of
reports

47


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
of Amount
reports


Railways reporting
a net income


Railways reporting
a net deficit


Represents aooruals, 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 lose 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
FEBRUARY, 1939
















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

1939 1938 1939 1938

Alton R. R. ...................................... d $355.878 d 365118 d $313110 43
Atchison, Topeka & Santa Fe Ry. System a/ ........ a 06 37 4.3.52 1 38
Atlantic Coast Line R. R ......................... 441,3 4,79575
Baltimore & Ohio R. R. ........................... d 1,7s4, 536d j583 2 47213
Boston & Maine R. R. ............................. 231 d,90 d 2 9 ---26,89 912,621
Central of Georgia Ry.*........................... d 978 66 21 d 5564
Central R. R. of New Jersey ...................... d 823.4 5 75 453753
Chesapeake & Ohio Ry. .......................... 2,92, 792 4,297
Chicago & Eastern Illinois Ry 0... ...............d 212.7 d 244.966
Chicago & North Western Ry. .....................
Chicago, Burlington & QuincyR. R. ............... d 70 88 31.49,124d 6
Chicago Great Western R. R. ......... .... 1 8604 .4
Chicago, Milwaukee, St. Paul & Pacific R R.*.....
Chicago, Rock Island & Pacific Ry..............
Chicago, St. Paul, Minneapolis & Omaha Ry. ...... 691.
Delaware & Hudson R. R. .......................... 176,123 d 3456,056 1793
Delaware, Lackawanna & Western R. R. ............. d 41.02 d 63.727
Denver & Rio Grande Western R. R. *.................. d 1, 6
Elgin, Joliet & Eastern Ry.................... 1 04
Erie R. R. (including Chicago & Erie R. R.) .... 1,218.530 d 05525
Grand Trunk Western R. R. ....................... 44 28 281.10 860 6
Great Northern Ry. ..... ............................
Illinois Central R. R. ........................... 440 d s 4
Lehigh Valley R. R. .............................. 23247,190 d
Long Island R. R. ................................ 599d 4s.971
Louisville & Nashville R. R .................... 810,640 d 648 1,532,616 67,777
Minneapolis, St. Paul & Sault Ste. Marie Ry. **.... 139320 1 11
Missouri-Kansas-Texas Lines ...................... d4 447b7
Missouri Pacific R. R.............. .........2... 5 A 2
New York Central R. R. b/ .......................
New York, Chicago & St. Louis R. R. .............. 22.399 d3741,370 4
New York, New Haven & Hartford R. R.*.......... 3777d7
Norfolk & Western Ry. ........................... 3, 2 4 15
Northern Pacific Ry. ............................. d 2035 2 1 d 108 d 22512
Pennsylvania R. R. ...............................
Pere Marquette Ry. ............................... d 9610 832.6 346,3014
Pittsburgh & Lake Erie R. R.......................... 8 661126 285 ,
Reading Co. ......................................1 473,068 992,0624 235,782
St. Louis-San Francisco Ry.*t..................... a 2J23211 12 0d 2 266 2
St. Louis Southwestern Lines tt...................
Seaboard Air Line Ry.* ............................ d 851.158 1.199.436 d 495.957 d 860.815
Southern Ry. ..................................... 4 197 d 1. .1--47763
Southern Pacific Transportation System c/ ........ a 193 20
Texas & Pacific Ry. ........................ ... ,37
Union Pacific R. R. (including leased lines) ..... 492,416 35 4 1,753,42 1,595,621
Wabash Ry." 4 1066166
Wabash Ry .......... ..................... 16666 d 18 284 261454663
Yazoo & Mississippi Valley R. R. ................. d g77 d 546 b 29,344


*0
*0*

0/
5/ ,
,I /


d


Report of receiver or receivers. U.S.GOVERNMENT PRINTING OFFICE 1939-0.77067
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: "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 $1,490,386 for the
two months ended February 28, 1939 and $1,r30,364 for the two months ended February 28, 1938, which is not included
in this statement."
Deficit.






Subject to revision


UNIVERSITY OF FLORIDA

311 111111111111 1 088li ll1 1111111 13
3 1262 08851 1323


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS.


Statement No. M-125
MARCH, 1939


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

Compiled from 135 repot (Fonrd IBS) representing 140 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)
I I


UNIV. OF FL LIB.
U.S. DENTOP PT.Y



U.S. DEPOeITO'Y
...fty


MILLIONS OF


NET INCOME
DOLLAR


In II II II T I TTI I I 11 I I I I



0o -- -- --- -


O -- ---- -- --'I-----
-20 -


I I I I I I i f I It I f 1 I I I I I I I I


1937


1938


1939


For the month of Maroh


1939


34,,316,892
79,596, 3
3,913,810
2,101,736

11,573, 69
39,50, P16
17, 963


d 10. 05.
16,894, 502
1,715,014.


1,.9 2,136
111,325


1938


p11,728,276.
10,510,025
25,238,301,
2,120,593
23,117,708
10,41,9;2
39,960o'98
0,117:07

d 28,012,572R
16,882,766,
661,936


1, 391,157
4".:325


Income Items


For the three months of


I1 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 .........................


"85,808,339-
31,753,001
117,561,340
6,239,1L
511,322,13
32,75,627

15,873 628

d5, 4.12,481
50,422,814
5,280,012


19,963,172
33,566,255
53,529,17
6, 1,o65
47,8, 62
0,891,412
1 118,310,642
656,070
149858,124
S102. 79 62

d 10.707.2
50,335,176
2,901,569


18,762,057
,.73.201


Balance at end of March Balance at end of Mareh
Selected Asset Items Selected Liability Items
1939 1938 *- -- 1939 1938
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $266,824,789 $221,688,647
of affiliated companies (Total, Account 707)........ 644,844,29 4 659,289,982 Ls ans pa................
1. oans and i ...........28. Loans and bills payable# ...............un ............ 2 a 00,55 2 17

16. Time drats and deos ts ............................. 1,955, 2 ,272 31. Miscellaneous accounts payable ......................... 6 8 ,83 1,7'0o6
17. Special deposits 3........... ................. 22. Interest matured unpaid ............................. 11,6 9,
18. Loans and bills receivable ........................... 1 461 ,71, 33. Dividends matured unpaid ............................. ,1
19. Traffic and car-service balances receivable .......... 9 172 52,918 34. Funded debt matured unpaid .......................... ,4 7,82 11 ',8
20. Net balance receivable from agents and conductors ... 2, 97 ,0;S425 35. Unmatured dividends declared ........................ ,18,,
21. Miscellaneous accounts receivable ................... 11891,33 1 ,0 ,87, 36. Unmatured interest accrued .......................... 806 2
23. Interest and dividends receivable ................... 22 38 their urrent liabilities ..........................
24. Rents receivable ....................................66 9 i ...........................5
25. Other current assets ................................. 3,0;,119 ,309 -3 39. Total current liabilities (items 28 to 38) ...... 2,281,774,473 1,991,715,104
26. Total current assets (items 14 to 25) ........... 1,124,139,454 1,062,948,592 40. Tax liability (Account 771):
40-01. U. S. Government taxes .......55706,068 61878,028
___40-02. Other than U. S. Government taxes ........... 14,050,457 145,678,155

ANALYSIS OF NET INCOME a/

Month of March 193 9 Month of Maroh 1938 For the three months of 1939 For the three months of 1938


Railways reporting
a net income


Kailways reporting
a net deficit


Railways reporting
a net income


Railways reporting.
a net deficit


Railways-reporting
a net income


Number Number Number Number Number
of Amount of Amount of Amount of Amount of
reports reports reports reports reports

57 10,326,628 75 *20,832,005 38 $, 293,742 94 32,306,31. 53


Railways reporting
a net deficit


Railways reporting
a net income


Railways reporting
a net deficit


Amount


117,225,928


$ Represents accruals, including the amount in default.
* Includes payments which will become due on amount of principal of long-term debt (other than that in Aooount 761, Funded debt matured unpaid) within six months after close of month
of report., ,I! I,
# Includes obligations which mature not more than 2 years after date of issue.
SEoxludes reports of 3 roads whose net income (or defioit) was absorbed by the controlling company.
SDef tit or other reverse items.


-


I


-1 I


-I-


I-


I


1939


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

1939 1938 1939 1938


Alton R. R .....................................
Atchison, Topeka & Santa Fe Ry. System a/ ........
Atlantic Coast Line R. 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 & Quincy R. R. ...............
Chicago Great Western R. R.**...................
Chicago, Milwaukee, St. Paul & Pacific R. R.*t...
Chicago, Rock Island & Pacific Ry.*t............
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.) t ...
Grand Trunk Western R. 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.A*............
Norfolk & Western Ry. .........................
Northern Pacific Ry ............................
Pennsylvania R. R. ...........................
Pere Marquette Ry. ............................
Pittsburgh & Lake Erie R. R ....................
Reading C9 ......................................
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 1501.770
d 2.7157.bgg
1, 04,
d 2 208.840
d 319,b17
d 707,615
d 1 1
4 52977
d 398.953
d 5, .68905


264,
S 665.479

d lj82.113
d 662.772
d 4.079.589
d W.

1,132,78
d 2.301.

d 4,304,b73


d 14,115
356, 295
770,089
d 3,21Z.5-4
d 470,li 1
d 1.1772,


892,020
d 1.422.782
d 1254!435


d 865.682
2,62, 7
d -500.33


d 1.01166





d 189.073
d "4a3, IE


d 494.455

d 27

1,013,688
d 233.198
A 1 86b 57I

519,522



d 372.6




1,69,163
323,892
d 688152
2,215,569
d 1. 99.10



469,168
d 193,350
b,771.,70
d 2.352.4

579, 421
917,198
1,548,209
d 2.449.235
d 315,7


412
2,776,810

da 3b86


d 1.331 ;87&
d 3.909. 85
d 1589.N8.
d 515!3a
83,699
d 1. 848.310
d 939.70o
d 3.411,120
d b, 181, g5


^-a
d 539933
592,439
d 3,032.29
d "33z,379

za,
d 1.01930


d 2,40,8
2,460,49
d 192.4
A "'^i


U.S. GOVERNMENT PRINTING OFFICE : 1939-0-77067
Report of receiver or receivers.
SReport of trustee or trustees.
*** Under trusteeship, Erie R. R. only.
a/ Includes Atchison, Topeka & Santa Fe By., 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. Operations of all separately operated solely controlled
affiliated companies, during the corresponding periods resulted in a net deficit of $2,051,660 and $2,002,584
respectively. The 1939 deficit includes $211,172 for the month and $633,516 for the period, representing interest
on bonds of such companies owned by Southern Pacific Company not taken into income and, therefore, not included in
the 1939 amounts reported against items 2 and 9 of this statement. The consolidated deficit for Southern Pacific
Transportation System and separately operated solely controlled affiliated companies for the month amounted to
996,875, and for the period $5,745,362."
d Deficit.


d 1.614.187
d 4.840.babg
d .54995
d I 1.15 0j
d 5b9.06


d 2,520.521I
d 187!, M





d% c~i:


Subject to revision


UNIVERSITY OF FLORIDA

1i1lil llll lIIIIII Il IIll I Ih B l Ii I 111111l1 IIIII
3 1262 08851 1182 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

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


Statement No. M-125
APRIL, 1939


Compiled from 135 repot (Fore IBS) representing 140 steam railways
(SWITCHING AND TERMINM COMPANIES NOT INCLUDED)
7. .


TOTALS FOR THE tNitED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLARS


OV
O --

o-20_L _V L

.40 -3
I I I I I I ,1 I I I I I I I I I I I I I,


1937


1938


1939


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 aonth of April


1939


$15, 2,937
10, 44,02
25,714,139
1,833,282
23,880,857
11,220,379
39,548,781
d 8 .067
50,761;093
d 2g6.880. 23
1,015, 8 2
d 27,896.068
16,839,686
1,163,698

482,190
764,962


Balance at end


1939


$640,589,331


4e9,772,,447
20,212,533
55,661,120
1,299,130
49,532,708
42,150,163
120,6%6,631
328,332,592
19,245,128
1,142,059
4,380,971


1,085,682,202


1938


Income Items


For the four months of


1939


-I 1 .1 I---


10,3 05
20,033,178
2,083,697
17,949,481
10,562,259
39,636,117


of April


1938


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


$101,066,274
42,209,201
143,275,475
8,072,474
135,203,001
43,804,o006
158,297,174
202, 34, 22
d 67.431.721.
4,055,225
d 71,486.946
67,262,499
6,444,710

13,966,090
4,816,206


--*I.


1938


$4,36o,308
44,202,500
73,562,608
8,454,762
65,107,846
41,2,63
0 157,966,6o
858,607
200,059,o40
d 13i4.951,i194
4'052,994
d 139.004.188
67,136,726
3,580,573

20,580,706
4,546,903


Balance at end of April


1939


I ________ _____________________________________- I-- -


$652,620,728


I _______________________________________


305,903,44
8,010,846
19,674,157
57,44o,742
3,766,100
47,65,024
J, 27,275
133/ 10,208
374,088,199
21,645,419
1,454,083
.4,155,280


27. 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 ...........................


28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.


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


$259,097,232


1938


$212, 561,395


245,477,299 21,794,250
65,772,130 653,,2,817
24,2b ,922 245,266,o6
65:6 ,594 57,912,173
86,792,262 710,129,972
1,8o9,751 2,576,921
645,211,278 522,023,236
878,373 1,36 ,969
93,157,088 95,782,794
36,49,624 3,552,512
24,600,560 20,997,198


2,274,062,881


1,985,882,906


I, F *I. - I -


1,015,170,775


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


55,412,244
138,946,693


53,386,926
137,378,108


ANALYStS OF NET INCOME a/

Month of April 1939 Month of Apri 1938 For the four months of 1939 For the four months of 1936


Railways reporting
a net income


Railways reporting
a net deficit


Railways reporting
a net income


Number Number Number
of Amount of Amount of
reports reports reports

38 12,318,163 94 $30,214,231 30


Railways reporting'
a net deficit .


Amount
I "


-Railways .reporting
a net income


Railways reporting-
a net deficit


Railways reporting
a net income


I- F I I


Number
of
reports


Amount


Number
of
reports


Amount


Number
of
reports


Amount


Railways reporting
a net deficit


Amount


Number
of
reports


$36,229,452 52 $25,188,642 8so 96,675,588 31 $14,084,187 101 $153,088,375


% 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 3 roads whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


I I|


-- -


I I, .. i...


-I--


"


'----~--L


"1"1"1"1"1"1"1"'


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

1939 1938 1939 1936


Alton R. R. ......................................
Atchison, Topeka & Santa Fe Ry. System / ........
Atlantic Coast Line R. 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 & Quincy R. R................
Chicago Great Western R. R.**......................
Chicago, Milwaukee, St. Paul & Pacific R. R.-.....
Chicago, Rock Island & Pacific Ry.*..............
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.) ???...
Grand TrunkrWestern R. R.........................
Great .or.theri 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.t.....................
St. Louis Southwestern Lines *?...................
Seaboard Air Line Ry.*............................
Southern Ry .....................................
Southern Pacific Transportation System 2/ ........
Texas & Pacific Ry .................. .. .... ...
Union Pacific R. R. -including leased lines) .....
Wabash Ry.* .....................................
Yazoo & Mississippi Valley R. R.................


d 1729.512
d 3.566b, 1
1,077,97 3
d 4.577.306
d 511.359
d 978.925
d 1.378,03
3,150,o56
d 601.080
d 6.799.172
d 953.842


d 1.248.552
379,380
d 619842
565,253


d-
d 1,787.1
d 1.009.9594
d -4,70D2. 94 ,
d 57SA,0
d 139,693
d 1,276,816
642,578
d 2.981.265
d 1,53g8914
d 5.738.322
d 7.321.287
d 121.973
d 1.664.913
5, 6,225
861,766
d 296,964
255,027
842,674
4 4.,284,792
d 546,881
d 1.552.810
5 o 329,330
d 5,142,003
124,206
1,124,342
d 2.044.533
d 289.311


d 9865.370
d 6 313279
1,595,152
d 9.379.380
d 2;080.1g43
d 1.166,489
d 1.313.223
3,123,357
d 756.325
d 8.082,955
d 2,061.739
d 93g2 20
d 7.818.227
d 5.497.724
d -L122,661


d 2.190.694
d. 1.075.187
a 1,644,.320
d 1:082,412g
d 1.265.388
d 2.739.,25
d' 1.805,174
d' 6,283,101
d 13,136,695
d 1,324,524
d 406.112
2,876, 27
d 4,792.4255
d 4:18,975

15,944
d 269.531
d 44.o4 8*30
d 787. 751
d 1.967,129
d 3.8,0.321
d 10,492 b656
d 81,074
170b,721
d 3.188.8908
d 2:84g


d t643.964
377,634
1,782,103
d 2,180.,992
8,720
d 694.763
4 914.1
5,04,751
d 403.377
d 5.145.872
775,468
d 259,032
d 4.966.198
d 2.759.195
d 1.054 868
718,612
194,111-
d 1.690.484
890,585
d 561,647
d 621.800
1,63e;287
d 884.622
2,o086,589
d 2.575.914
d 1.093,444


403,338
d q53.669
7,459,448
d 2.918.230
10,538,120
493,885
1,000,784
1,879,366
d 3,260o.251
d 340,631
d 837.568
807,801
d 2.510.562
524,202
3,620,930
1,3 996
d 135,914


d 2744.679
d 2.359.675
2,274,041
d 6.938,645
d L, 539,660
d 880,976
d 87,.301
5,893,103
d 549267,72
d 446,391,240










d 1.812.935
d 3863.39
d 753,258
d 5.916,71-
d 4,111, 68
d 92615.21
d 449,64o,



d 69153. 472




170,554
d 2.32. 882
d 174 731
d 3,700-338
d 1,812,923
d 749.9216
d 915.218
T 691,472
170,554
d 2.688329.882




S 1.367,6288
S 4,77814,02

d 749863.393
d 2.681.801
4,3536,864
d 6,16,68c9
3,938,375
d 688,174
S2.471.576,88
77 .2500
d ,863,393

d 1,287.846


3,162,282
d 2.471.576
d 78,275


Report of receiver or receivers. U.. GOVERNMENT PRINTING OFFICE :1939-0-77067
-* 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.
/ 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. Operations of all separately operated solely controlled
affiliated companies, during the corresponding periods resulted in a net deficit of $2,523,391 and $2,676,335,
respectively. The 1939 deficit includes $211,172 for the month and $844,688 for the period, representing interest
on bonds of such companies owned by Southern Pacific Company not taken into income and, therefore, not included in
the 1939 amounts reported against items 2 and 9 of this statement. The consolidated deficit for Southern Pacific
Transportation System and separately' operated solely controlled affiliated companies for the month amounted to
$1,075,344, and for the period $6,820,706.
d Deficit.


: : : : : : : : : : : :





Subject to revision
Subject to revison


UNIVERSITY OF FLORIDA

1111 I ii 11111111 1 INTERSTATE COMMERCE COMMISSION
3 1262 088511331ATISTICS
BUREAU OF STATISTICS


Statement No. M-12
MAY, 1939


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

Compiled from 135 reports (Form IBS) representing 140 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLARS
I I I I I I I I I I I I I I I I I I I I 1





d -




-40 --- ------------
II I' III 1 11 11I 1 1 f II I 1 111 II


For the month Of May


1939


$25,100,766
10,640,097
35,740,863
1,712,206
34,028,657,
11, 98738
39,486,678
132,624
1,609,o040
1,013,150
d 1g.g69.1
16,882,694
1,086,636


12,585,945
3,957,670


1938


$16,665,678
11,618,229
28,283,907
1,807,062
26,076,845
10,755,526
39,775,370
213,061

1,012,573
d 2.277.k.r

16,922,054
956,087


11,737,701
708,883


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 .........................


For the five


1939


$126,167,040
52,849,297
179,016,337
9,784,681
169,231,656
S55,793,745
i 197,783,851
254,243,761
d 86q.012.10A


84,145Z,19
7.536,356

26,552,035
8,773,876


months of


1939


$46,025,988
55,820,527
lo0,846,515
10,261,824
91,584,691
52,009,000
S197,720,128
1,071,668
250,800,796

d 16 .28d. 72
84,058,780
4,536,660

32,318,407
5,255,786


Balance at end of May Balance at end of May
Selected Asset Items Selected Liability Items 199
193 1938 1939 1938
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ 174,482,288 $199,843,554
of affiliated companies (Total, Account 707)......... $645,520,942 (650,637,120
28. Loans and bills payable# ............................. 245,388,587 239,874,504
14. Cash ................................................. 414,186,238 307,196,4 29. Traffic and car-service balances payable ............. 67,704,009 65,49,810
15. Demand loans and deposits ........................... 1,666,709 7,608,346 30. Audited accounts and wages payable ................... 22,357,9 22,111.826
16. Time drafts and deposits ............................. 20,225,0519,569,102 31. Miscellaneous accounts payable ....................... 61,01,P4 68,65,418
17. Special deposits..................................... 48,386 9 ,090,902 32. Interest matured unpaid .............................. 863,96,357 712, 244
18. Loans and bills receivable .......................... 2,97720 ,58,1 3 Dividends matured unpaid ............................. 1,510,758 1,6068
19. Traffic and car-service balances receivable .......... 51,16g454 50,272,95 34. Funded debt matured, unpaid ........................... 678,252,150 524,577,506
20. Net balance receivable from agents and conductors .... 47,542,15 43,31,91 35. Unmatured dividends declared ......................... 16,812,861 12,298,017
21. Miscellaneous accounts receivable ................... 119,,897,424 12,107,274 36. Unmatured interest accrued ........................... 105,863,907 109,678,137
22. Materials and supplies ............................... 24,177,087 36 39,903 37. Unmatured rents accrued .............................. 0,003,066 38,105,188
23. Interest and dividends receivable ................... 21,683,788 2 52,708 38. Other current liabilities ............................ 22,850,672 32,714,826
24. Rents receivable .................................. 1,398,079 1,6 5,709
25. Other current assets ........................... ..... 4, ,393,317,270 39. Total current liabilities (items 28 to 38) ...... 2,335,701,256 2,028,496,644
26. Total current assets (items 14 to 25) ........... 1,069,717,448 1,022,690,675 40. Tax liability (Account 771):
40-01. U. S. Government taxes ...... ............. 51,212,682 59,028,516
40-02. Other than U. S. Government taxes ........... 18,890,192 143,738,830

ANALYSIS OF NET INCOME a/

Month of May 1939 Month of May 1938 For the five months of 1939 For the five months of 1938


Railways reporting
a net income
Number
of Amount
reports


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


Railways reporting
a net income


Railways reporting
a net deficit


d 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 whioh mature not more than 2 years after date of issue.
g/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


v,


1937


1938


1939


-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 five months of For the ftve months of

1939 1938 1939 1938


Alton R. R .....................................
Atchison, Topeka & Santa Fe Ry. System / ........
Atlantic Coast Line R. 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 & Quincy R. R................
Chicago Great Western R. R ......................
Chicago, Milwaukee, St. Paul & Pacific R. R.t...
Chicago, Rook Island & Pacific Ry "'.............
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.


Grand Trunk Western R. 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 / .......
Texas & Pacific Ry ..... ..... .. .. .... ..
Union Pacific R. R. (including leased lines) .....
Wabash Ry .......................................
Yazoo & Mississippi Valley R. R. .................


d 9.45.819
812,742
d 6.072,088
d 626.854






d 48)3616l
d 51150 .53
d 1.55?9?.


497,140


d 2.351.204



d 50500

763,006
d 3.53100
d 12,251,


d 154.726





1,197.830
d 521,012

d 2.1 .572
d 583719
i136:317

d 2.553.798
d 4'57514.


d 1.45699
d 12
d 995,212
d 9,992 ,414
d 2.618.24
d 9 924 .98
d 7 064 20
d -1368, 40
d 711.726
d 1.817,117
d 3.239.321-
d 495,007
d 6e.lf3,25
d 2.749.371
sr 114 91
d 1


d 1.620.518
d 5 677.202
3,731,225
d 6.057.366
d 4.791.759
d 1,785.946
68,624
108,037
d 6.187.771
d 847.435
d 2.636.567
d 3.162,751
d 11,81 0980
42,377
643,271
d 3,709.511
d 268,234


d $807.891
1,688,989
d 2,496


933,674
S 259.424
d 6.71,l 71
d 3, 4511809
d 1,315,996
920,619
63,474
d 2,293,205
66, 260
d 819.256
d 820.171
d2.789,006
1,694,072
833,809
d 900,739

2,568,095
d 3.023.569
d 1374 668


500,788







62,493,981
d 3,9603168
! 45717529

d 1.526,77
636,596o
4,678,216
d 1.660,596
d 64,90o2


LI _ I


d 975
d 7.543.1
d 5.331 53

d 274

d 77,001
d 4,594 868
d 2.278o090
d 5.478.81
1,186,47
d 105.747

733,438
d 2.826.344
d 1 4777.40
S8419:598
d 905.162
d 4.270.177


d 785.73
1,004,907
1,414,228
d 4,885.905
S5S88,135
d 1.786.898
d 1.885.61

539,915
3,697,207
d 2.812,996
d 43,368


U.S. GOVERNMENT PRINTING OFFICE:1939-0-156964
Report of receiver or receivers.
* Report of trustee or trustees.
* Under trusteeship, Erie R. R. only.
a Includes Atchison, Topeka & Santa Fe y., 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. Operations of all separately operated solely controlled
affiliated companies, during the corresponding periods resulted in a net deficit of $2,828,938 and $3,231,848,
respectively. The 1939 deficit includes $211,172 for the month and $1,055,860 for the period, representing interest
on bonds of such companies owned by Southern Pacific Company not taken into income and, therefore, not included in
the 1939 amounts reported against items 2 and 9 of this statement. The combined results for Southern Pacific Trans-
portation System and separately operated solely controlled affiliated companies for the month amounted to a net in-
come of $233,399, and for the period a net deficit of $6,587,307."
d Deficit.


R. P*.....


I
*1
**


I


d $942.236
a 28 9
2 ',012 ,'06
d 17b-






Subject to revision


~IZC \s'r~ .39: Y34.


UNIVERSITY OF FLORIDA

11IlllIIIIiiiilI41I IIIII I 'I INTERSTATE- COMMERCE COMMISSION
3 1262 08851 1471 BUREAU OF STATISTICS


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


Compiled from 135 reports (Fornn IBS) representing 140 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)
-...


NET INCOME
MILLIONS OF DOLLARS


I I I I I l I | I I I 1 1 1| i I I I I I o i s I



A A



iTl rr -r-rT ,-r -- --


II L II II I I IIII IIL 11 1 II


1937


1938


1939


For the month ofJune


1939


$39,o9,470o
1,81, 355
52,A76,825
2,044,258
50,432,567
11,487,361
39,485,083
132,216
51,104,660
d 672,093
d 1. 68.214
16,805,563
2,031,959


1,517,789
672,617


1938


12,740, O;
37,899,608
-2,021,694
35,877,914
10,553,174
39,861,418
209,275
50,604,867
d 14.726.9
1,012,5
S15,739,N7
16,854,764
863,455


1,129,345
224.56;


Income Items


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



7.
8.
9.
10.
11.
12.


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 aif structures and Equipment) .....
Federal income taxes ................................
Dividend appropriations:
12-01. On common stock .............................
12-02. On preferred stock .........................


For the six months of


1939


$165, 62,51
66,30 o651
231,193,161
11,828,937
219,664,224
67,281,106
$ 237,268,935
305, 13422

6 081,486
d 91)721,41
100,950,760
9,563,305


27,869,8924
9,446,493


1938


$71,185,510
68,560,612
139,716,122
12,283,517
127,462,605
62,543,175
o 237,,581,5
1,280,944
301,405,663
d 174.9IT.058
6,078,141
d 160001,199L
oo00,913,542
5,400,115


33, 17,752
5,480o,351


Balance at end of June Balance at end of June
Selected Asset Items Selected Liability Items
193) 1938 1939 1938
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $188,742,004 $220,344,495
of affiliated companies (Total, Account 707)........ $637,650,612 $654,846,627
28. Loans and bills payable# ............................. 245,563,553 250,982,938
14. Cash ................................................. 430,302,330 314,771,436 29. Traffic and car-service balances payable ............ 76,117,565 68,85,392
15. Demand loans and deposits ............................ 15,818,855 7,796,776 30. Audited accounts and wages payable ................... 223,387,641 220,439,060
16. Time drafts and deposits ............................. 20,838,102 17,309,665 31. Miscellaneous accounts payable ....................... 72,045,489 72,522,747
17. Special deposits ..................................... 71,212,040 65,979,262 32. Interest matured unpaid .............................. 906,729,835 755,026,908
18. Loans and bills receivable .......................... 1,98,419 2,41,519 33. Dividends matured unpaid ............................. 9,390,964 7,506,535
20. Net balance receivable from agents and conductors .... 14:290 433,
19. Traffic and car-service balances receivable .......... 54,2,169 50,475,282 34. Funded debt matured unpaid ........................... 685,235,696 525,866,816
20. Net balance receivable from agents and conductors .... 46,674,290 41,184,551 35. lUnmatured dividends declared ................... ... 4,293,297 769,652
21. Miscellaneous accounts receivable .................... 121, ,054 130,068,177 36. Unmatured interest accrued .......................... 81,025,675 83,780,950
22. Materials and supplies ............................... 318,849,539 355,255,297 37. Unmatured rents accrued .............................. 26,106,733 23,537,560
23. Interest and dividends receivable .................... 17,934,565 22,565,2L 38. Other current liabilities ................... .. 28,915,356 24,878,023
24. Rents receivable ..................................... 1,271,988 1,555~,73to 38) 2,560
25. Other currentassets ................................. 6,228,836 4,989,9 39. Total current liabilities (items 28 to 38) ...... 2,356,809,804 2,033,996,581
26. Total current assets (items 14 to 25) ........... 1,106,470,087 1,014,392,626 40. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 54,352,648 g57,545,769
40-02. Other than U. S. Government taxes ........... 156,53,173 149,815,551

ANALYSIS OF NET INCOME a/

Month of June 1939 Month of June 1938 For the six months of 1939 For the six months of 1938
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

47 $18,275,564 85 $19,960,788 37 $12,548,279 95 $28,287,806 49 $36,897,591 83 $128,663,275 30 $20,884,443 102 $200,905,642

SRepresents accruals, including the amount in default.
For 101 railways not in receivership or trusteeship the net income or deficit was as follows: June 1939, $10,706,084; June 1938, .d 90.263; 6 months 1939, a A18.511i.09; 6 months 1938,
a ffAT.74 294. -
* 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.
A Deficit or other reverse items.


T.rV


I


I I


Statement No. M-125
JUNE, 1939













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

1939 1938 1939 1938


Alton R. R.. ................ ....................
Atchison, Topeka & Santa Fe Ry. System a/ .......
Atlantic Coast Line R. 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.*t.....................
Chicago, Burlington & Quincy R. R. ...............
Chicago Great Western R. R.**.....................
Chicago, Milwaukee, St. Paul & Pacific R. R.**....
Chicago, Rock Island & Pacific Ry.*4#.............
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.)** ....
Grand Trunk Western R. 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. *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. V.....................
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 RyP........................
Yazoo & Mississippi Valley R. R .............


89,395
. 8597

489,395

552, 58
d 2,6.,820


1,372,551



d 12




a, 6326
1, 16,261
d 5.863.837
d 1:1927753
d 2.q26703
d 3.0%.8
d 40 746
2,936,535
d 3,152.4
CL 4N.;


d 11.257.434

371,997
d 11.71308
d 2.63148
d 1

d 1,210,112
d 11,143,bl
dsil
a ilog0io


d 1 884 421
4, 800,071
d 3-.464.555
d 28212.433
234,457
357,332
d 7.107.358
d 3 5293177 32



2,151.373

11 ib,


d 2.75.6913



36,7765f
1,31,0122

d 1.053.897
d 6,806,741
647,044
d 279.784
d 3.9281w_
d 1,656!8
996,919






366,726
d 2.764.888






1,31,31
d 808,806








d 1,156479
66,2644


d 1,851,103
1, 769 "'I.'I
893,8 0
6, 57,065
d 2 O c
d 9


d l1,082.648
2,9s8,9 57
1,401,463
d 8 .082.872
d 1,826,136


d 1.36 1


d 2.65,291

d
d 1.161.46

1,037,493
d 3.29.400
d 2.0205 2

A 1.028.720

d 5.202.143
9,123,683
d 1.012,003
1,357,657
1,925,819
d 5.545.004
d 623,316

d 2

5,806,409

7 ^.096


Report of receiver or receivers. U.-GOVERNMENT PRINYTN OFFICE:1939-0-156964
** Report of trustee or trustees.
*** Under trusteeship, Erie R. R. only.
# Includes Chicago, Rook Island & Gulf Railway beginning with June 1939.
/ 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.
o Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: 'Figures reported for Southern Pacific Transportation System exclude offsetting debits and credits
for rent for leased roads and equipment, and bond interest, between companies included therein. Operations for
1939 of separately operated solely controlled affiliated companies (not included in above statement), resulted
in a net deficit of $453,358 for the month and $3,282,296 for the period. These results include $211,172 for the
month and $1,267,032 for the period, representing interest on bonds of such companies owned by Southern Pacific
Company not taken into income and, therefore, not included in the 1939 income results for the System reported
above. The combined results for 1939 for Southern Pacific Transportation System and separately-operated solely
controlled affiliated companies for the month amounted to a net income of $1,525,658 and for the period a net
deficit of $5,061,649.0
d/ Deficit.







Subject to revision


I--


UNIVERSITY OF FLORIDA

IIIII Illlilll~li lllll III lllllliUllllli ill
3 1262 08851 1489 INTERSTATE COMMERCE COMMISSION

BUREAU OF STATISTICS

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

Compiled from 134 reort (For IBS) repreentng 139 stem railwayD
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


-- .TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLAR .


20

/ -v


II I I I ~V1 I


1937


1938


111 1
1939


I I


For the month of July


1939


$49,012,189
11,892,989-
60,905,178
1,901,655
59,003,523
11,797,030
39,483,521
132,058
51,412,609
7,590,914
1,013,130
6,577,784
16,792,735
2,559,528

1,482,500
764,962


1938


$38,431,253
11,575,292
50006,55
1,915,186
48,091,359
11,086,316
39,666,550
210 55
1 5029 2 '

d 3.884 .35
16,907,191
1,336,621


637,985
1,092,585 ,1


Income Items


I -


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 'th seven months of
1939 1938


$214,763,110
78,123,6o40
292,886,750
13,730,596
279,156,154
79,078,135
% 276,752,457
930,458
356, 761030
d 77.,.876
d 84.699.492
117,743,418
12,139,319


29,352,324
10,211,455


$109,616,764
80,135,901
189,752,665
14,198,703
175.553,962
.73,6299,40
S277,248,095
1,491,500
352,369,085
d 176.813123
7,0960,71
d 183.905.83bi
11 ,820,73
6,736,735


3.,085,737
6.572.936


Balance at end of July Balance at end of July
Selected Asset Items Selected Liability Items
1939 1938 1939 193
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $153,964,078 $1 ,195,627
of affiliated companies (Total. Account 707)........ .636,302,963 $654-155,589
Sa 28. Loans and bills payable# ............................. 244,374,08 247, 47,787
14. Cash ................................. 440,088,460 328,590,414 29. Traffic and car-service balances payable ............. 77,866,221 71,33,732
15. Demand loans and deposits ............................ 17,869,021 9,276,505 30. Audited accounts and wages payable ................... 23,66403 236,82,
16. Time drafts and deposits ............................. 20,991,341 18,500,7)3 31. Miscellaneous accounts payable ... ................... 8,37j1 5 ,63
17. Special deposits .................................... 58,513,098 51,39,724 32. Interest matured unpaid ........... 891,00668 738,5
18. Loans and bills receivable .......................... 1,57,812 1,578,986 33. Dividend atured unpaid ..;......................... 68
19. Traffic and car-service balances receivable ......... 55,533,260 50,953,O16 34. Funded debt matured unpaid .......................... 800,966,614 60 6 2,7
20. Net balance receivable from agents and conductors .... 9,035,600 3,62759 35. Unmatured dividends declared ...................... 2, 996 1
21. Miscellaneous accounts receivable .................... 122,519,122 130,124743 36. Una8tured interest accrued .............. .92, 9,2 6,694
22. Materials and supplies .............................. 312,41,740 345388,57 37. Unmatured rents accrued ............................. 28,46,148 42 ,7
23. Interest and dividends receivable .................... 13,922,318 17,56 ,38. Other current liabilities ........................... 2,203978 20,69,926
24. Rents receivable ..................................... 1,131,007 1,124,455
25. Other current assets .....................;........... 6,906,294 5,399,070 39. Total current liabilities (items 28 to 38) ...... 2,468,426,484 2,105,936,107
26. Total current assets (items 14 to 25) ........... 1,100,425,073 1,003,505,536 40. Tax -iability (Account 771):
40-01. U. S. Government taxes ..................... 58,722,759 46,786,784
40-02. Other than U. S. Government taxes .......... 157,411,023 : 154,966,925

ANALYSIS OF NET INCOME ./

Month of July 1939 Month of Jdly 1938 For the seven months of 1939 For the seven months of 1938
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 rep reporeporrepoeporort reports reports report

58 $21,794,261 73 $15,216,477 50 16,770,864 81 $20.655,99 5 52,4014,559 81 137,104,01 29 #28,243,938 10o2t 12. 77
-9


Represents accruals, including the amount in default.
SFor 100 railways not in receivearhip or trusteeship the net income or deficit .wa-a follows: July 1939, $16,689,481; July 1938, $7;2894,339; 7m ontbl 1939, d $1.333.207; 7 months 198$,
'd *76,469.955. .
* Includes payments which will become due on account of priclpal of 16ng-term debt (other than that in Account 764, Funded debt matured unpaid) within' ix months after lose bf month of
report. ,.
# Includes obligations which mature not more than 2 year after date of issue.
a Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


Statement No. M-125
JULY, 1939


i


I I


-1 1


- I


-I


--


_1
C :-
P --
i,


u II I I I I


I I I I[ I II


I '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)


Name of railway


Alton R. R .....................................
Atchison, Topeka & Santa Fe Ry. System a/ .......
Atlantic Coast Line R. R.........................
Baltimore & Ohio R. R............................
Boston & Maine R. R. ............................


Central of Georgia Ry* ...............
Central R. R. of New Jersey..........
Chesapeake & Ohio Ry. ..............
Chicago & Eastern IllinoisRy*......
Chicago & North Western Ry* .........


Chicago, Burlington & Quincy R. R...............
Chicago Great Western R. R. ...................
Chicago, Milwaukee, St. Paul & Pacific R. R*....
Chicago, Rock Island & Pacific Ry?*#... ..........
Chicago, St. Paul, Minneapolis & Omaha Ry. .......
Delaware & Hudson R. R.........................
Delaware, Lackawanpa & Western R. R.............
Denver & Rio Grande Western R. R. *.*............
Elgin, Joliet & Eastern Ry. ......................
Erie R. R. (including Chicago & Erie R. R. ).....
Grand Trunk Western R. 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. / ......................
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 Lines4 *...................
Seaboard Air Line RyP ...........................
Southern Ry.
Southern Pacific Transportation System / ........
Texas & Pacific Ry. ............
Union Pacific R. R. (including leased lines).....
Wabash Ry. .......................................
Yazoo & Mississippi Valley R. R. .............


d $963,301
1,321,806
159,897
d 6,370.938
d 619,{b?


505,841
d 1 241 144

d 3.194.009


d 1 829


5503,'39


d 3.681.316
1 5,986
d 2.056.136
d 23,8
3,878,7ff

d 3,4MS


d 1.214.427
d 505.14
12 1

d 2.042.178
d 234231
-7' 5691940
d 1333.830
d l2,188,489


d 2.003.7
d 7.t49 .3


b6 9, $381




3 4 3
d 4,454.22


3,827,361

3429


d s813.489
8,21755-5
1,378,866
d 2.183.706

d 1.222.084

d 82,9.56

1,7242,142


d 243.15


181,1
d 1.049,937


148,7485







,183 4,774
d l!9715592
d 242 4




d 233H4lh


d $1,014,996
8,241,544
701,671
d 12 812
d 1,843,157
d 1. b

d 980,301
d 9,231,49


d 2.946.389
d 041.



1,650,346


A 185 471



d 6,186 1891
a 6 2,55987



- Z72,878


U.S.iVERIMNEmT rRIN OFFICE.: I3l2-0. i694 .
Report of receiver or receivers.
** Report of trustee or trustees.
*** Under trusteeship, Erie R.R, only.
# Report includes Chicago,,Rock Island & Gul Railway beginning with June 1939.
/ Includes Atohison, Topek & Santa ,FeR y., Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe By.
/ Includes Boston & Albany, lessor to New York Central R. R.
o/ Includes Southern Paoific Company, Texap & New Orleana R.R., and leased lines. The report contains the following
information: "Figures reported above for Southern Pacifio Transportation System exclude offsetting-debits and
credits for rent for leased roads and equipment, and bond interest, between companieslI oluded therein. Operations
for 1939 qf separately operated solely controlled affiliated oompanies (not included in above statement), resulted
in a not deficit of 449,772 torthe-month and 43,732,068 for the period. These results include $211,172 for the
month and '$1,478,205'forthe period, representing interest on bonds of such companies owned by Southern Pacific
.Company not taken into income by Southern Pacific Company and, therefore, not included in the 1939 income Tesults
for the system! reported above; The combined results for 1939 for Southern Pacifoi Transportation System aid,
separately operated solely controlled affiliated companies for the month amounted to a net income of $751,650 and
Sfor the period a net deficit of $4,309,999."
d Deficit.


d 3:.102383
a 32.26f







Subject to revision


UNIVi OF FL L IS.
Css~~


UNIVERSITY OF FLORIDA

11 11111111111 IIB II I I I IllIIIII I IIII I IIIII B IIIl
3 1262 08851 1497 I INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

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

Compiled from 134 reports (Form IBS) representing 139 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Statement No. M-12S
AUGUST, 1939


NET INCOME
.LIONS OF DOLLAR









I I II : ;l I II II I


1937


1938


1939


Selected Asset Items


13. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account.707)........


Cash ..............................................
Demand loans and deposits ............................
Time drafts-and deposits ...........................
Special deposits ...................................
Loans and bills receivable ...........................
Traffic and car-service balances receivable ..........
Net balance receivable from agentsm-ad conductors ....
Miscellaneous accounts receivable ...................
Materials and supplies...... ...................
Interest and dividends receivable...................
Rents receivable ....................................
Other current assets .................................
Total current assets (items 14 to 25) ..........


TOTALS FOR THE UNITED STATES (ALL REGIONS)


For the month of August


1939


*54,586,247
10,323,238
64,909,485
1,845,514
63,063,971
12,366-,190
39, 99,945
131,970
51,998,105
11,065,866
1,013,131
10,052, 735
16,873,944
3,291,044

11,609,936
2,641,302


1938


$45,421,774
11,207,865
56,629,639
1,838,302
54,791,337
12,568,642
39,821,683
207,396
52,597,721
2,193,616
1,012,573
1,181,043
16,919,588
1,726,o24

9,313,648
2,593,446


Balance at end of August


1939


$636,031,526


464,097,038
19,697,402
21,410,084
60,238,013
1,519,476
58,301,608
47,455,013
122,320,755
308,863,105
16,231,828
1,244,606
7,199,558


1,128,578,486


1938


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 .....................
S 8. Contingent charges ..................................
9. Net income X.....................................
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


I *1'


For the eight


1939


$269,34,355
88,446,879
357,796,234
15,576,107
342,220,127
91,444,326
# 316,252,403
1,O62,409
408,759,138
d 66,539.011
d 74.646.758
134,617,362
15,430,363

40,962,260
12,852,758


months of


1938


$155,038,539
91,343,769
246,382,308
16,037,007
230,345,301
86,198,130
S317,069,782
1,698,896
404,966,808
d 174 1.507
'8,103,28b
a 182,724.793
134,74O,319
8,462,760

43,399,385
9,166,383


Balance at end of August
1939 1938


A ';-1 ,~~.- yl Y l-l _I* _____ ____


$652,566,505


367,129,816
10,122,421
18,510,242
64,616,492
1,558,775

127,700,821
S337,506,966
20,238,420
1,430,777
6,122,287


1,052,846,515


S27.
28.
29.
30.
31.
32.
33.
34.
35.
"36.
,37.
38.
: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 ..........................
Unmatur6d rents accrued ..............................
Other current liabilities ...........................
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 ..........


$168,368,873


$116,945,297


24o,349,160 246,54,94
79,046,837 7Z,769,49
250,587,351 210,575,203
01,159,545 62,611,90
913,559,2 7 761,211,416
1,564,248 1,603,257
796,121,724 612,386,428
14,306,333 11,744,862
92,96,922 97,336,80
34166,670 3 2,238,398
25,916,748 22,995,880


2,489,746,825


57,707,377
164,006,663


2,132,022,580


ANALYSIS OF N1T INCOME a/

Month of August 1939 I Month of August 1938 For the eight months of 1939 For the eight months of 1938


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


Number Number Number Number Number
of Amount of Amount of Amount of Amount of
reports reports reports reports reports


61 18,072,227


70


(16,891,184


Railways reporting
a net deficit


Railways reporting
a net income


Railways reporting
a net deficit


Amount


220,978,192


SRepresents accruals, including the amount 10 default.
f For 100 railways not in receivership or trusteeship the net inoomO dor deficit was as follows: August 1939, $19,409,416; August 1938, $11,974,409; 8 months 1939, $18,076,210; 8 months
1938, d $64,495,546.
* 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.
SDeficit or other reverse items.


L-. ,


14.
15.
16.
17.
18.
- 19.
20.
21.
22.
23.
24.
25.
26.


69


$23,905,016


62


$13,852,281


I I


vu


''


- 1 1 "


I; -


I I I I


,


I I-


-L


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 eight months of For the eight months of

1939 1938 1939 1938


Alton R. R. ......................................
Atchison, Topeka & Santa Fe Ry. System a/ ........
Atlantic Coast Line R. 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 & Quincy R. R................
Chicago Great Western R. R. **....................
Chicago, Milwaukee, St. Paul & Pacific R. R.*.....
Chicago, Rock Island & Pacific RyP*.#............
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.)**...
Grand Trunk Western R. R. ........................
Great Northern Ry. .............................
Illinois Central R. RA...........................
Lehigh Valley. 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.*t .....................
St. Louis Southwestern Lines 1 ...................
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. .................


577413
d 1. 686.173
666 35
d 3.5191478


1,925,618
d 12

972,425
d 1,2.43131
13,987
6,134,933
d 3,26306746
S6,74,095


d 2.740.143
S 6,795
a 1, 35,770
S 5.3419 34


6,341,:79
d 5,114,200
d 345,343


d (833,844
10,121,"57
923,620
d 1,091,829
-585s171
d 1.436.534
d 177 5
d 937.512
a be. flm


1,2 2, 39

1,302,1&0
d 1.069.235
d 1. 556. 10
2,310,401
199,827
a 456,572
5,602,989
a .990.081



1,031,352
a ,007


575,098
2,558,207
4,000,001
1 5.262.864

S3.082.573

3,992,9
815,108
11,063,339

d 35,W7


____________________ I


10,466,549




424,926106
d 1M










d 6,57616
d 31369861
d 1.75307,892
d 383,59M,


d 1.139.188
2,-112375
2,849,705
d 6 6

d 3.981,121


11,214,604
d 3,679,465
1, 459


Report of receiver or receivers. U.S. GOVERNMENT PRINTING OFFICE:1939-O-156964
Report of trustee or trustees.
Under trusteeship, Erie R. R. only.
Report includes Chicago, Rock Island & Gulf Railway beginning with June 1939.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central Rf R.
Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: "Figures reported above for Southern Paoific Transportation System exclude offsetting debits and
credits for rent for leased roads and equipment, and bond interest, between companies included therein. Operations
for 1939 of separately operated solely controlled affiliated companies (not included in above statement), resulted
in a net deficit of $403,457 for the month and $4,135,525 for the period. These results include *211,172 for the
month and $1,689,377 for the period, representing interest on bonds of such companies owned by Southern pacific
Company not taken into income by Southern Pacific Co#'pany and, therefore, not included in the 1939 income results
for the system reported above. The combined results ifor 1939 for Southern Pacific Transportation System and
separately operated solely controlled affiliated companies for the month amounted to a net income of 0620,720 and
for the period a net deficit of $3,689,279."
Deficit.


+*
**+


a 2.004.162
d 2 ,1094 4

d 10, 208j, W


d 2.264.90
d 2.683.
d 1. 6:811
d 12,954.911


d 1. 011.807
A15.207.794
d 523,02
d 9,0{Tl696




C I$te 3f39 9'


Subject to revision


UNIVERSITY OF FLORIDA

BII BIIB1B111 I1I lll lIl 1IIII11 INTERSTAE COMMERCE COMMISSION
3 1262 08851 1349STATISTICS
BUREAU OF STATISTICS


A


Statement No. M-125
SEPTEMBER, 1939


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

Compiled from 133 reports (Form IBS) representing 138 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
LLIONS OF DOLLARS






I 11- Vl -



T I I I I I II I II II I I II 11 I I II


1937


1938


1939


For the month of September


1939


$86,435,176
10,945,707
97,380,883
1,865,608
95,515,275
13,94.,545
131,719
53,423,83o
42,091,45
1,013,131
41,078,314
16,866,171
4,419,280


1938


$50,406,296
11,262 649
61,668,945
1,976,647
59,692,298
12,502,399
39,563,173
219,12
52,2 764
7,407,534
1,012,574
6,394,960
16,858,599
1,893,787

1,691,102
464,325


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 i.................................
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 nine months of


1939.


$355,009,887
454,567,710
17,441,716
437,125,994
104,448,211
i 355,650,091
1,194,128
461,272,430
d 24.16436
9,120:78
d 33.267,314
151,483,534
20,863,147


41,605,763
13,407,083


1938


$205,444,835
102,449,619
307,894,54
18,013,655
289,880,799
97,Z58,870
1,918,088
46,335,132
a 115,8im
d 175.570.193
151,598,920
10,356,547


45,090,487
9,630,708


Balance at end of September Balance at end of September
Selected Asset Items Selected Liability Items
1939 1938 1939 1938
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months* ................ $169,703,746 78,379,088
of affiliated companies (Total, Account 707)........ $631,338,119 $652,004,994
28. Loans and bills payable# ............................. 236,741,762 242,689,641
14. Cash ................................................. 510,24,200 409,313,075 29. Traffic and car-service balances payable ............. 83,286,297 73,155,288
15. Demand loans and deposits ............................ 21,937,402 9,82,587 30. Audited accounts and wages payable ................... 218,870,79 218,433,851
16. Time drafts and deposits ............................. 22,721,459 18,522,021 31. Miscellaneous accounts payable ....................... 67,717,61 70,496,79
17. Special deposits ..................................... 64,496,689 61,792,536 32. Interest matured unpaid .............................. 943,34,091 791,535,248
18. Loans and bills receivable ........................... 1,784,69 1,554,921 33. Dividends matured unpaid ............................. 10,982,928 9,278,056
19. Traffic and car-service balances receivable .......... 62,351,065 3,07,367 34. Funded debt matured unpaid ........................... 800,728,057 629,00,61
20. Net balance receivable from agents and conductors .... 5,526 7 ,06,751 35. Unmatured dividends declared .........................1,338,90 1,188,977
21. Miscellaneous accounts receivable .................... 124,71 2 12 ,917,05 36. Unmatured interest accrued ......................... 88,183,11 91,398,400
22. Materials and supplies ............................... 304,638,536 329,883,512 37. Unmatured rents accrued ........................... 23,419,200 23,009,797
23. Interest and dividends receivable .................... 18,7 ,35 21,051,209 38. Other current liabilities ............................ 31,489,190 27,539,772
24. Rents receivable ..................................... 1,350,625 1,520,527
25. Other current assets ................................. 8,129,621 6,515,420 39. Total current liabilities (items 28 to 38) ..... 2,506,103,976 2,177,731,377
26. Total current assets (items 14 to 25) ........... 1,197,547,340 1,088,209,021 40. Tax liability (Account 771):
40-01. U. S. Government taxes ...................... 70,185,757 53,746,881
___40-02. Other than U. S. Government taxes ........... 168,42,812 169,341,384

ANALYSIS OF NET INCOME a/


Represents accruals, including the amount in default.
SFor 100 railways not in receivership or trusteeship the net income or deficit was as follows: September 1939, $42,604,094; September 1938, $17,897,617; 9 months 1939, $60,221,792;
9 months 1938, a 4d6.597,929.
* Includes payments whih 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.
aExcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
SDeficit or other reverse items.


.40


-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 nine months of For the nine months of

1939 1938 1939 1938


Alton R. R. ..................
Atchison, Topeka & Santa Fe Ry.
Atlantic Coast Line R. R......
Baltimore & Ohio R. R.........
Boston & Maine R. R...........


System s/ .......


Central of Georgia Ry.*...........................
Central R. R. of New Jersey ......................
Chesapeake & Ohio Ry. ............................
Chicago & Eastern Illinois RyP*...................
Chicago & North Western Ry*.................. ...
Chicago, Burlington & Quincy R. R................
Chicago Great Western R. RP*.....................
Chicago, Milwaukee, St. Paul & Pacific R. R1*.....
Chicago, Rock Island & Pacific Ry*e............
Chicago, St. Paul, Minneapolis & Omaha Ry. .......
Delaware & Hudson R. R...........................
Delaware, Lackawanna & Western R. R..............
Denver & Rio Grande Western R. RP*................
Elgin, Joliet & Eastern Ry .....................
Erie R. R. (including Chicago & Erie R. R.)*....
Grand Trunk Western R. R.........................
Great Northern Ry. .-r-.-....; ...............
Illinois Central R. R.......... .............
Lehigh Valley R. R. .............................
Long Island R. R. ................................
Louisville & Nashville R. R. ...................
Minneapolis, St. Paul & Sault Ste. Marie RyP*......
Missouri-Kansas-Texas Lines ......................
Missouri Pacific R. R.**..........................
New York Central R. R. / .......................
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 g/ ........
Texas & Pacific Ry. .................... .........
Union Pacific R. R. (including leased lines) .....
Wabash Ry.* ..................................
Yazoo & Mississippi Valley R. R .............


d 2.111.712
16:1454:5





d 2.31,905.1
d 123.101


d 2libl


588,309
d 3981,788
18,8bb, 2b
d 4.527.828
3,46,397


d 5.1
1,72 ,389
219,59
9,481?:84
S4.108od,451
d 3616003


d 1.423.762




d 2.444.016

d 1 504.631

399,966
d 1.320:611


61 ,252


d 21,433,12"



d 7.12506
2,148,507
d 2713
1,178,974
d 2.533.111

d 6.150.05
d 3,332 89.
d 9293.-
*504
8,746%'8
S5.549828
d 144,87b


733,693
1,019,105
1,059,840
d 1.473.222
22, b38,919


3,785,704
5 ,612
d 9. 835.791
d 1,7331722
1,668,340
535,418
d 3.300,664
1,631,470
d 280,819
,d 1 657,967
.4,529,296
3,951,971
703,176
d 385,777
7,101,026
d 3.579.260

6,120,;553
1,761,583
d 1.451.100
d 1,992,54
33,40o6,27
1,071,136
3,145,638
,911,925
d 5,355,096
d 1,515,1ijr
d 3.560,o84
4:254,416
7,608,785
1,121,354
15,037,171
S2,496,353
6,23 :


d .17.300
109,985
d 7.061 7




1., 209,993

4,209,993
d 11,64 a91








3,518,ooO
d 1,800 369
d 4. 562 ,67





d 1.59.31
d 562,bM


d 572.964
d 8.773 .4U
d 4.577.576
21,225,840
d 913.442
2,592,924
3,5335,31
d 7,188,634
d 833,247
d 4 618. 802
d 3,090 6-
14,229,333
d 3,935,92
258,130


U. S. GOVERNMENT PRINTING OFFICE: 1939-0-156964
Report of receiver or receivers.
** Report of trustee or trustees.
e** 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: "Figures reported above for Southern Pacific Transportation System exclude offsetting debits and
credits for rent for leased roads and equipment, and bond interest, between companies included therein. Operations
for 1939 of separately operated solely controlled affiliated companies (not included in above statement), resulted
in a net deficit of $388,144 for the month and $4,523,669 for the period. These results include $211,172 for the
month and S1,900,549 for the period, representing interest on bonds of such companies owned by Southern Pacific
Company not taken into income by Southern Pacific Company and, therefore, not included in the 1939 income results
for the system reported above. The combined results for 1939 for Southern Pacific Transportation System and
separately operated solely controlled affiliated companies for the month amounted to a net income of $2,790,548 and
for the period a net deficit of $898,731."
d Deficit.





Irc te.3f q391


Subject to revision


UNIVERSITY OF FLORIDA

I II I III I IIIIII111111111111 1111111111111 I l IN IIII I
3 1262 08851 1505 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS

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

Compiled from 133 reports (Form IBS) representing 138 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Statement No. M-125
OCTOBER, 1939


TOTALS FOR T~E UNITtD STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLARS

An I III I I II I I I I I


OV

o -- --------

-20 : -:

.40 --.


1937


1938


1939


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 recei'able ..........
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 October


1939


*101,616,296.
10,958,339
112,574,635
1,901,662
110,672,973
13,545,921
39,457,271
133,170
53,13,62
57,536,11
1,015,832
56,520,779
16,949,021
5,899,560


362,720
1,009,781


1938


$68,594,770 1.
11,62,791 2.
80,237,561 3.
1,892,239 4.
78,345,322 5.
6.
13,o66,583
39,884,482
207,611
53,158,676
25,186, 66 7.
1,015,275 8.
24,171,371 9.
16,995,270 10.
3,087,553 11.


656,567
813,142


Balance at end of October


1939


$628,653,275


1938


$650,765,012


Income Items


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


For the ten


1939


$456,617,492
110,515,754
567,133,246
19,342,972
547,790,274
117,994,132
i 395,087,361
1,327,298
514,408,791
33,381,483
10,1 6,710
23,244,773
168,432,555
26,769,445

41,968,483
14,416,864


months of


1938


8274,039,608
114,092,408
388,132,016
19,905,894
368,226,122
110,825,454
% 396,542,656
2,125,699
509, 809
d 141,2687
10,131,135
d 151.398.822
168,594,190
13,U4,100


I *.


Selected Liability Items


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) .....


Balance at end of October


1939


$161,339,373


1938


$91,357,025


235,580,005 247,066,614
,464,849 82,380,080
2 4,000,382 246,769,619
65,156,786 60,527,952
940,761,947 791,487,027
1,858,928 1,877,731
799,531,897 630,18,02
1,465,9o 10,o14,3
92,953,~97 94,092,716
28,579,284 28,129,806
29,621,791 24,581,658


579,335.2 ,271


2,208,111,692


28,933,732 40. Tax liability (Account 771):
40-01. U. S. Government taxes ..................... 82,910,188 47,697,046
40-02. Other than U. S. Government taxes .......... 159,579,429 158,811,619

ANALYSIS OF NET INCOME a/


Month of October 1939 Month of October 1938 For the ten months of 1939 For the ten months of 1938
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 Numer Number Number Number Number Number
of Amount of Amount or Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reports reports reports

99 $59,499,101 31 $2,978,322 81 $32,112,529 49 *,7,941,158 65 147,206,496 65 $123,961,723 48 $76,915,945 82 *228,314,767

i Represents accruals, including the amount in default. ...... ....... ...,-.
f For 100 railways not in receivership or trusteeship the net income or deficit was as follows: October 1939, $52,745,621; October 1938, $28,146,148; 10 months 1939, $112,958,723;
10 months 1938, d 18.451,781.
* 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 for the month of October 1939 and 1938, 3 roads for the ten months ended with October 1939 and 4 roads for the ten months ended October 1938 whose net
income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


UNIV. OF FL LIB.
DOCUMENTS DEP.P




U.S. DEPOOITORY


gIII I


-


. .


~


"


I 1 I ---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 ten months of For the ten months of

1939 1938 1939 1938


Alton R. R.. ..................................
Atchison, Topeka & Santa Fe Ry. System / .......
Atlantic Coast Line R. 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 & Quincy R. R. ...............
Chicago Great Western R. R.*.....................
Chicago, Milwaukee, St. Paul & Pacific R. R.*t....
Chicago, Rock Island & Pacific Ry.*?..............
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.)*tt....
Grand Trunk Western R. 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 Yorft Central- 7R. 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. *.
Wabash R. ...........s...s........................
Yazoo & Mississippi Valley R. R .................


d 6.83733


d (690.423
15,602 044
727,502
3,477,964
1,588,542


d 3,667,591
6,106,736
10,773,075
1 05
18 5


d $1.135.506


a g897:b

d 1.835.092
d 2 010219
--23,59,6 403
d 929 4
d 9.4 1 l8

5,971,
d R6U
a 11
d 6,b2,6

230,74g
d 1.58297
a 4,425,i18
548 o8s
d 6,532,356

d 3845.053
5,471,o05
d 16,10.937
d 609.36s
5,372,848
d 4.89 845
d 241361! 2

d ,19081,36
d 136.600
i, 874,90h3
17d 4303662
2 808975,541
d 475.685

4,787,512
d 7.326.241
d 609472
d 4,908.359
170,235
d 608.526
17:860,4
d- 3,808,261
445,849


* 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.
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: "Figures Reported above for Southern Pacific Transportation System exclude offsetting debits and
credits for rent for leased roads and equipment, and bond interest, between companies included therein. Operations
for 1939 of separately operated Solely Controlled Affiliated Companies (not included in above statement) resulted
in a net deficit of $556,803 for the month and $5,417,533 for the period. These results include $211,172 for the
month and $2 111,721 for the period representing interest on bonds of such companies owned by Southern Pacific
Company not taken into income by S.P.Co. and, therefore not included in the 1939 income results for the System
reported above. The combined results for 1939 for Southern Pacific Transportation System and separately operated
Solely Controlled Affiliated Companies amounted to a net income of $2,168,418 for the month and $932,626 for the
period. Figures stated in this note representing or including separately operated Solely Controlled Affiliated
Companies' results will not check with accumulation of similar results previously reported during current year due
to Mexican Companies' results included therein having been restated to new basis adopted for converting Mexican
peso results of such companies to U.S. Currency. U.S. Currency results of such companies are based on conversion
of peso transactions except depreciation amortization, and property retirement charges, at official exchange rate
in effect for month in which the transactions were taken into the accounts ranging from 4.90 pesos to 4.95 pesos
per dollar during 1939. Peso depreciation, amortization, and property retirement charges have been converted at
arbitrary exchange rate of 2.00 pesos per dollar because a great preponderance of property investment was acquired
at time when ruling exchange rate equalled, or closely approximated, 2.00 pesos per dollar."
d Deficit.


d $904.683
5,745, 9i
& 1.000,624
311,339





Subject to on


UNIVERSITY OF FLORIDA

IIIIIIIIIIII Il1111111111111111111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1513 BUREAU OF STATISTICS

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


Statement No. M-12S
NOVEMBER, 1939


Compiled from 133 reports (Form IBS) representing 138 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


UNIV. OF FL LI





U.S. DEPOiTO-Y


1937


1938


1939


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


1939


$70,345,666
17,090,183
87,435,849
2,037,882
85,397,967
11,319,210
39,930,4 O5
1~ 1,66 ~

1,o01,132
33,003,556
16,728,618
4,330,721

34,341,829
4,097,839


Balance at end


1939


$625,554,518


602,439,561
27,957,796
29,875,826
77,575,197
2,873,016
68,822,198
54,00oo4,103
130,201,171
310,732,250
28,811,935
1,474.,18
8,354,839


1,343,122,048


1938


$49,692,168
12,374,431
62,o66,599
1,885,

11,9 u765
209
51,6,7

1,012,57
7,555,005
16,665,30
2,758,783

16,199,129
2,262,088


of November


1938


$650,815,331


470,913,02
11,424,799
19,627,78
50,487,603
1,195,757
59,766,575
47,79,897
127, 55, 4
318,619,870
25,18 ,639
1,527,140
6,956,663


1,140,801,783


Income Items


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


Selected Liability Items


i i I I


27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
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) .....


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


For the eleven months of


I -I


1939


$526,963,159
128,617,604
655,580,763
21,380,853
654,199,910
129,313,542
S45,017,767
1,458,961
565. 790,070
68,409,840
11,149,842
57,259,998
185,161,172
30,514,982


1938


$ 25,71,774
126,466,839
450,198,613
21,791,146
428,407,467
122,734,219
/ 436,039,064
2,334,292
561,107,575
d 132,700.108
11,143,709
d 143.843,817
185,259,519
16,202,883

61,946,183
12,705,938


Balance at end of November


1939


$184,980,249


1938


$179,013,964


232,801,255 243,867,o60
88,071,140 78,457,612
259,746,621 227,4745
61,616,978 64,928946
934,543,158 795,261,9
1,522,026 1,668,48
79,24,775 628,607,424
,1QO2 24,2 ,523
106,280,38 108,04,772
31,361,656 32,o86,424
28,119,156 23,508,087


2,592,460,383


71,754,724
146,310,422


2,228,151,558


54,873,689
147,685,479


ANALYSIS OF NET INCOME a/


Month of November 1939 Month of November 1938 For the eleven months of 1939 For the eleven months of 1938
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

81 $39,676,805 49 $6,673,249 68 $21,786,720 61 $14,231,715 69 $182,194,383 60 $124,934,385 48 $95,085,728 81 (2s8,929,545
U. GOVERNMENT PRINTING OFFICE : 140-0.136 964
i Represents accruals, including the amount in default.
1 For 99 railways not in receivership or trusteeship the net income or deficit was as follows: November 1939, $36,688,149; November 1938, $16,893,391; 11 months 1939, $152,918,254;
11 months 1938, $1,650,516.
* 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 for the month of November 1939 and 4 roads for the month of November 1938, and for the eleven months ended with November 1939 and November 1938 whose net
income (or deficit) was absorbed by the controlling company.
d Deficit or other reverse items.


NET INCOME
MILLIONS OF DOLLARS

40 --- -



Av




-40 -- .
Li L LiL LILH L HLLHLIH


-v


7r-


.


- 1 -


-1 I


I i


w 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 eleven months of For the eleven months of

1939 1938 1939 1938


Alton R. R ...................................
Atchison, Topeka & Santa Fe Ry. System A/ ........
Atlantic Coast Line R. 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.w....................
Chicago, Burlington & Quinoy R. R. ..............
Chicago Great Western R. R......................
Chicago, Milwaukee, St. Paul & Pacific R. R.*....
Chicago, Rock Island & Pacific By................
Chicago, St. Paul, Minneapolis & Omaha Ry. .......
Delaware & Hudson R. R .........................
Delaware, Lackawanna & Western R. R. .............
Denver & Rio Grande Western R. R. 4M..............
Elgin, Joliet & Eastern Ry. .....................
Erie R. R. (including Chicago & Erie R. R.) t...
Grand Trunk Western R. 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 RyP*.....
Missouri-Kansas-Texas Lines ......................
Missouri Pacific R. R. ...........................
New York Central R. R. h/ ......................
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. 04.....................
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 939.418
701.792
d 1.3.273
~-~fisw


6, 430, 64

a 2054


d 22454.26






d 3.641.707
4 20 56
d 8 21






d 3.641.707
1 2


a 49 6


d .B" 0


d 1.351.223




,
d 11 53
,;451,:i
d 2.336.7o6
2:56327
d 10.921.33




14:799,063
d 5.927.023


17,
5,220,129
1,788,577


7, 1,021
a ',216



2,616,817
1,669,999

2,280,231



d 1, ,5

10,404,996




3,550,456
d 135.730
d 3
50,554:722
2, ,
7 061 437
d s 410 807



12,188,577
1,912315
21:367:40
a 1.669,904
-45,b6l


d 1.202.65
17 '7L b8
631.55
d 6. .2
d 3,70,55b


S517,0410

-,900740
d 6.867:185


163477
d 8.41126
22 4




d 7. 2.150
d b02,190
a 1



266,126
2,261,997
21,500,782


I I I __I


Report of receiver or receivers.
Report of trustee or trustees.
Under trusteeship, Erie R. R. only.
Includes Atohison, Topeka & Santa Fe Ry. Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New fork Central R. R.
Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: *Figures reported above for Southern Paoifio Transportation System exclude offsetting debits and
credits for rent for leased roads and equipment, and bond interest, between companies included therein. Operations
for 1939 of separately operated solely controlled affiliated companies (not included in above statement) resulted
in a net deficit of $470,531 for the month and $5,888,064 for the period. These results include $211,17k for the
month and $2,322,893 for the period, representing interest on bonds of such companies owned by Southern Pacific
Company not taken into income by Southern Pacific Company and, therefore, not included in the 1939 income results
for the System reported above. The combined results for 1939 for Southern Pacific Transportation System and sepa-
rately operated solely controlled affiliated companies amounted to a net income of $519,855 for the month and
$1,452,481 for the period."
Deficit.


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