Selected income and balance-sheet items of class I steam railways in the United States - 1940

MISSING IMAGE

Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1940
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:
1940
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:
AA00000587:00008

Related Items

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

Full Text


TSubject to revision
Subject to revision


UNIVERSITY OF FLORIDA

31262088511364 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
JANUARY, 1940


NET INCOME
MILLIONS OF DOLLARS


40----
II II II j v II II II 1 II II II II



20



-ro

-40
S il \ l II


1938


1939


1940


Selected Asset Items


For the month of January


1940


11,328:9716
56,898,947
2,379,092
54,519:855
11,041,984
38, 94,581
190,889
49,627,454
a,92,401
1,965,778
2,926,623
16,868,818
,429,983

1,738,481
1,794,411


13. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707).....;.. $622,52(
14. Cash ................................................. 529,753
15. Demand loans and deposits ............................ 20,92
16. Time drafts and deposits ............................. 27,38
17. Special deposits ..................................... 101,383
18. Loans and bills receivable ........................... 2,
19. Traffic and car-service balances receivable .....6..... 7
20. Net balance receivable from agents and conductors .... 48,94
21. Miscellaneous accounts receivable .................. 1.1391
22. Materials and supplies ............................... 342,
23. Interest and dividends receivable .................... 39
24. Rents receivable ..................................... 1,10:
25. Other current assets ............................... 4,181
26. Total current assets (items 14 to 25) ........... 1,292,211


1939


$32, 97,171
1217602
45:36 :773
2,153,415
43,211,358
10,716,873
38,820,558
181 164
49,718,595
d 6.507.237
1 96 165
d 814668402
16,804,308
2,128,:405


2,636,456
955 772


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 deductionsl/........................
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


UNIV. OF FL LIl.

ULt., -


U.S. DEPOTORY


Balance at end of January


1940


1939 ~f


27. Funded debt maturing within 6 monthsa/............... .. l1,271,271 $189,370,804
SL.--oans and bills payable4/........................ .... 198,229,022 210,892,507
29. Traffic and oar-service balances payable ............ 83,978,563 7497,48
30. Audited accounts and wages payable .................. 232193927 2 94799
31. Miscellaneous accounts payable ....................... 62,52310 59,2221
32. Interest matured unpaid .............................. 20,05,925 22,77,7
33. Dividends matured unpaid ............... ......... 5,021,170 3,O8490
34. Unmatured dividends declared ......................... 3435,16 2
35. Unmatured interest accrued ........................... 81,24,02 8742,36
36. Unmatured rents accrued .............................. 18,610,152 1943,51
37. Other current liabilities ........................... 29,966,382 28,684,298

38. Total current liabilities (items 28 toj7) ...... 735,241,969 750,365,542
39. Tax liability (Account 771):
39-01. U. S. Government taxes ...................... 89,756,16,533
39-02. Other than U. S. Government taxes ........... 131,364,8 137,627450


ANALYSIS OF NET INCOME 6/


Month of January 1940 Month of January 1939 For the months of 1940 For the months of 1939
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

65 $17,501,379 64 $14,574,756 62 $11,866,328 67 $20,334,730 No oumulations No cumulations
U. S S. GOVERNMENT PRINTING OFFICE : 1940-0-156964
/ Represents accruals, including the amount in default. 4
For 99 railways not in receivership or trusteeship the net income aw as follows: January'1940, 10,.708,847; January 1939, $1,847,011.
Includes payments of principal of long-term debt whioh will become due within six months after close of month of report.
Includes obligations which mature not more than 2 years after date of issue.
1939 figures for certain liability items have been revised, for comparative purposes, to conform with changes prescribed in the Uniform System of Aooounts by Commission's order of
December 6, 1939, effective January 1, 1940
6/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
V Deficit or other reverse items.


For the --- months of
1940 1939


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

Compiled from 132 reports (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


.. I I


I I
















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

Name of railway For the month of January For the month of January

1940 1939 19.0 1939


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. Rt*.....................
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 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 Rye......
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, San Francisco & Texas 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 ..............


722,350
d 585:6z
d 790,0:4
1,027,787
284,084
d 217.818
3,006 722
d 66 612
1,741,191


d 234,941
6,097
d 929,g82
28,252
1,112,780
d 259.859
d 88,IS05


d $194,9g9
d g04 60



d 228,139
d 332 534
1,68,887?
d 136.670

27,262
d 111.329
d 1,.486 297
d 885 717
d 297,
226,112
9,005
d 345.795
240'419
d 419,760


642,032
d 730,858
d 85 073 8
d 1,115,79
d 735,529
53,513
d 393.857,
2,004 ,522
d g54,683
1,261,039
d 10.615
162, 034
366,362
d 1,122,035
d 29,253
d 187,803
d 411,809
10,378
d 1,333,072
35,923
790,227
d 444,519
d 1120501


d $224, 72
56,5835
705,075
101,983
169,060
d 190,943
125, 2o
3,549,Z
d 49,4R
d 900,757


280,718
413,391
d 146,603
383- 64J8
238,206
53,434
d 682,027
-619,220
34 ,099
d 181,540
1,080,086
d 483.421
d 2?I:7
d 416,385
2,345,044
417,048
56,713
3,511,689
d 388195
3,935,554
461,531

d 564.451
d 45,799
d 24,307
d 44,191
300,134
d 266,612
129,1691
1,737,918
d 80,237a
d 51,224


525,114
d 15,730
108,88
d 157.088
d 2l ,47g
2,373,979

d 11043,179
458,976
d 66,682
d 1,002,979
d 249,277

311,352
212,679
d 244.574
322,479
d 113,179
d 120,584
d 97,63o6
---478,s85
215,242
d 166337
1,002,989
d 628.361
d 2713,7
d 753,055
580,942
186,152
d 110.732
2,419 189
d 57Z291
3,406,041
187,452
348:,814
d 865:970
d 29,1 4
d 136,168
d 234,184
d 692.47
135,87o
1,422,391
d 265,896
d 72,7b5


Report of receiver or receivers.
** Report of trustee or trustees.
*** Under trusteeship, Erie R.R, only.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R.R.
o/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the following
information: "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. Opera-
tions for January 1940 of separately operated Solely Controlled Affiliated Companies (not included in above state-
ment), resulted in a net deficit of $605,475. These results include #211,172 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 1940 income results for the system reported above. The combined results for January 1940 for Southern Pacific
Transportation System and separately operated Solely Controlled Affiliated Companies amounted to a net deficit of
11,324,185.
d Deficit.


I I I






Subject to revision


TSC I fe 4 1:s1


UNIVERSITY OF FLORIDA

I Illlll1111111111111111111111111111111111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1190 BUREAU OF STATISTICS


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

Compiled from 132 reports (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


UNIV. OF FL LIB.





U.S. DEPOMITOtY


NET INCOME
MILLIONS OF DOLLARS






O

-to _
-4o--


1938


I1 I I II
1939


I 9I II I I 40
19140


For the month of February


1940


$32,617,739
9,76,000
42,381,739
2,288,544
40,093,195
10,515,64
38,241,769
131,231
48,888,64t
d 8.796.449
1,965,778

16,824,870
2, 483,241


11,656,678
2,631,224


1939


$18,637,700
9,959,551
28,597,251
1,984,042
26,613,209
10,057,371
38,524,933
180,480
48,762,784
d 22.1 9.575
1,961,19
d 24.110.743
16,724,006
1,601,409


11,922,481
2,631,147


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


For the two


1940


$78,373,415
21,092,971
99,466,386
4,663,732
94,802,654
2161,0
76,: 5,556
262,903
98,519,999
d 3.717. 145
3,931,556
d 7.648.901
33,693,696
5,753,232


13,395,159
4,425,635


months of


1939


451,584,872
22,:37,151
73,962,023
4,137,455
69,824,56
20,774,244
77,345,21
361, 65
98,481,80
d 28.65s6.812
d 32.579.4
33,528,313
3,729,814


14,558,937
3.586,919


Balance at end of February Balance at end of February
Selected Asset Items Selected Liability Items
1940 1939 1940 1939 5/


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


$#62 7.?543,


525,714,913
18,990,174
26,870,165
98,743,353
2,392,163
64,535,206
45,016,058
122.757281
356,9 1:737
17,062,788
1,O53,916
4,574,292


1,284,682,046


$647,539,874


445,893,982
15,311 8
19,811: 4
50,86

117, ,966
32), Z72
18,87 ,852
1,16,3268
3, 316,380


1,103,761,136


Funded debt maturing within 6,.months ]/............
Loans and bills payable V/...........................
Traffic and car-service balances payable ............
Audited accounts and wages payable ..................
Miscellaneous accounts payable ......................
Interest matured unpaid .............................
Dividends matured unpaid ............................
Unmatured dividends declared ........................
Unmatured interest accrued ..........................
Unmatured rents accrued .............................
Other current liabilities ...........................

Total current liabilities (items 28 to 37) .....


39. Tax liability (Account 771):
39-01. U. S. Government taxes ......................
39-02. Other than U. S. Government taxes ..........


$193,486,362


$266,114,633


198,037,990 211,211,794
79,673,284 73,345,358
245,13 6,971 22428
61,618 92 ?6, 336, 28
23,214,4 26,546,98
1,574,323 1,545,158
15,10,246 13,70,590
86,795,012 88,610,912
24,069,482 25,076,189
29,652,329 28,530,186


765,182,723


71,232,011
132,304,952


760,234,557


51,914,567
139,707,913


ANALYSIS OF NET INCOME j/

Month of February 1940 Month of February 1939 For the two months of 1940 For the two months of 1939
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

58 $10,525,106 71 $21,286,329 46 $6,024,248 83 $30,134,991 61 $26,667,322 68 $34,316,223 52 $17,242,642 77 $49,821,787
U. S. GOVERNMENT PRINTING OFFICE: 1940-0-15A6964


l/ Represents accruals, including the amount in default.
F or 99 railways not in receivership or trusteeship the net income or deficit was as follows: February 1940, $427,435; February 1939, d t9.628.O91; 2 months 1940, $11,321,982;
2 months 1939, d 17.781.079.
SIncludes payments of principal of long-term debt (other than ]ong-term debt in default) which will become due within six months after close of month of report.
Includes obligations which mature not more than 2 years after date of issue.
1939 figures for certain liability items have been revised, for comparative purposes, to conform with changes prescribed in the Uniform System of Accounts by Commission's order of
December 6, 1939, effective January 1, 1940.
SExcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
- Deficit or other reverse items.


1 I-~--~-


-r


I -


-1 1


-r


Statement No. M-125
FEBRUARY, 1940














INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(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

1940 1939 1940 1939


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 & Quinoy 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. RB. ... .
Grand Trunk Western R. R. .......................
Great Northern Ry, .............................
Illin( CGat.ra], R.,R. ,.........................
Lahigh 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, San Francisco & Texas Ry. ............
St. Louis Southwestern Lines 99...................
Seaboard Air Line Ry.*...........................
Southern Ry. .....................................
Southern Pacific Transportation System c/ ........
Texas & Pacific Ry ....... ...........
Union Pacific R. R. (including leased lines) .....
Wabash Ry.* .......................................
Yazoo & Mississippi Valley R. R. .................


d 1 014 8
681,938
d 1.500.b55
d 160.s98

d 005
5,222,881
d 218.'15
d 2,899,9'6.


169,0 4
d 119i



d 114 .42
2--- 93
d 23
d 689,69
1,131,298
d 1.192-.686
d 652.52
d 1.W- 83689
181, 2




1 I
419,750
1 ,756
d 1.8841281
a 86,54,5
d 24.795
d 5I67057
23,761
d 2,267,052
126,691
1,070,373
d 658,548
d 14.440


S 5049 978
17682,123




d 3











810,640
d 2.23.1500
d 691.716
176,123

377:243
d 1,218.530




d 6239,1-3
810,640
d 1.390661620
d 2.57984
d 3,115:203
d& 22.399
d 946,87
3,790,242
d 2,;203.6

d ,961o
is8 ,216
473,068
d 2,232,911
d 692696
d 443,610
d 851.158
d 3.257.012
S69,402
492,416
d 1,066,166
d 227,754


d $296.0
1,020,791
d 305.613
80,752
d 406.019
d 196,621
6,627,526
d 117.799
d 2.072.955
807,232
S 1,40192
d 837.838
d 1,108,602
S 4.4,352
343.530
284,280
d 61.4?7
662,509
11,215

84,518
d 1.617.74-o
1 448,912
d 494,114
1,848,270
d 8,190
d 450,997
d 1.136 J6
2,824,315
601,853
d 387,141
6,442,657
d 1.023.0.O
6,924,207
802,510
914,561
1,232,655
d 1.377.168
d 86,406
80,172
d 17.750
611,867
d 939.094
32 ,_7_
2,333,496
d 299,747
61,022


d $313.110
d 102.38
795,759
d 583. 92
26,979

d 367.921
d 590.752
,297,955
d 212,137
d 2,671,00o
493,124
d 197.860
d 1,54,095
d 594,148659
346,056
d 63.727
541,034
d 605.525
d 21.190
d 2.349687
247,190"
d 427,438

1,532,616
d 1.334.317
d 622.060
d 1,.63,697
d '43.323
241,370
d 3 0.597
4,619,409
d 1,639.708

346,301
661,126
992,064
d 1,720,750
d 69,557
d 340.356
d 49w.997
d 1.934.202
269,374
1,753,482
d 708.926
d 150.386


I I


Report of receiver or receivers.
Report of trustee or trustees.
Under trusteeship, Erie R.R. only.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central R.R.
Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the following
information: "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. Opera-
tions for 1940 of separately operated Solely Controlled Affiliated Companies (not included in above statement),
resulted in a net deficit of $349,241 for the month and 8954,716 for the period. These results include $211,172
for the month and *422,344 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 1940 income results for
the System reported above. The combined results for 1940 for Southern Pacific Transportation System and sepa-
rately operated Solely Controlled Affiliated Companies amounted to a net deficit of $1,475,239 for the month
and $2,799,424 for the period."


d Deficit.


+*
**o






Subject to revision


UNIVERSITY OF FLORIDA

U1111 11 lllllllllllllli II1I INTERSTATE COMMERCE COMMISSION
3 1262 08851 1208 BUREAU OF STATISTICS

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


UNIV. OF FL LI.


U.S. DEPOiTOY


U.S. DEPOSITORY


NET INCOME
MILLION OF DOLLARS
I! II TI II I rI II 11 1 II II II r1
40





-to -/


o l i Lfl l LL
-^/ EzEE
-40o \/- -


1938


1939


1940


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) ..........


Compiled from 132 reports (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)
T T F


*1* -


For the month of March
19'0 1 1939


$34, 375,050
9707,17
49,082,20T
2,101,738
41,980,4L9,
11,456,259
38,623,80


d 10.40.752i
16,894,500:
1,808,119

2,326,188
464:325


Income Items


4._____________ I.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 the three months of


1940


$115,107,767




31,:29,
16,787205
385,687
147,583,370

d 12.603.6
50,716,104
8,:3,973

15,116,679
4,5oo00,635


-. I -- I II -


Balance at end of Maroh


1940


$615,617,471


496, ,621
,69573,39996
0,0,2 2
2 ,68 4
43,710,;32
119:698,282
366,277,575
19 720,682
1 268675
4 ,690,999


1,284,386,485


193


Selected Liability Items


1939


$85o959,922


6,239,193
111,805,039
l^Oig


50,422,814
5,519,019


Balance at end of Maroh


1940


1939 5/


I 1 I. -


$643,586,4711


:1. ______________________________


451,797,308
1 721 8
S:955 556
61,293,20
462
,066


4bi;1
1,3661199:
3,903,119


27. Funded debt maturing within 6 months/ ...............
28. Loans and bills payable/ ............................
29. Traffic and car-service-balances payable ............
30. Audited accounts and wages payable....................
31. Miscellaneous accounts payable .......................
32. Interest matured unpaid ..............................
33. Dividends matured unpaid .............................
34. Unmatured dividends declared.........................
35. Unmatured interest accrued........................
36. Unmatured rents accrued .............................
37. Other current liabilities ............................

38. Total current liabilities (items 28 to 37) ......


39. Tax liability (Account 771):
39-01. U. S. Government taxes ......................
39-02. Other than U. S. Government taxes ..........


$189,947,091 $259,462,246
1 ,602,720 214,160,920
5, 5a6,971 74,481,67
2 725 224,72 55
66,9 2 6 6 ;
4021B42
12 11 18 5
12 T 5
s80o 9 82,024, 7
22,6241 23445
50,552,817 3 34


775,857.395


777T83.,06


ANALYSIS OF NET INCOME /

Month of March 1940 Month of Marh 1939 For the three months of 1940 For the three months of 1939
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

61 $12,994,113 68 $17,948,816 57 $10,482,044 72 $20,,722,96 63 $39,102,193 66 551,705,799 52 $27,027,159 77 $69,847,055

U. S. GOVERNMENT WRITING OFFICE : 1940-0-15694
/ Represents accruals, including the amount in default.
/For 99 railways not in receivership or trusteeship the net income or deficit was as follows; March 1940, $4,384,689; March 1939, $322,755; 3 months 1940, $15,706,671;
3 months 1939, d 7,4 56,.5.
SIncludes payments of principal of long-term debt (other than long-term debt in default) which will become due within six months after lose of month of report.
Includes obligations which mature not more than 2 years after date of issue.
1939 figures for certain liability items have been revised, for comparative purposes, to conform with changes prescribed in the Uniform System of Accounts by Commission's order of
December 6, 1939, effective January 1, 1940
SExcludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
SDefioit or other reverse items.


Statement No. M-125
MARCH, 1940


- --


--I-


----I


' '


I I -


1,119609,,466


,102,924
142,959,@














INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(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

1940 1939 1940 1939


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 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 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.*t..........................
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, San Franoisoo & Texas 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 $524.757
d .







276,702
d 2.101.69a



d 184201
d 786.559






d 921 1
246,702




219,940


d 921.818


1,235,927



451,619
d 1 .3s864
d 187.659

425,658
707634
1,056,196
d 2.888.233
d 134.059
59,699





d 984.743
a 5 8205


d $501.770
d 2.757.468
1,046.060
d 2.208840
a 319.6l7


d 282.128




264,758
d 66.79



d 662.772


74,459







d 117.582
d 470.567
d 14. 27 21


892,020
d 1,422,782
d 154,438


a $460.288
1,388,963

483,921
d 574.566












186,830
954d 679.0637
d 199.302
d 3.3 95..3







1,544,978
d 214 7.24




d 133.920
d 1 78 658






186,830
d 1.963.3Z7








da 17il8
d 11 U6s 9
d 672.4151




d 2161
3437:998






1 g2g, if
d 2,127,529




a 134463.92880
217,777


31-3, 318


____________________ I I I


d $437,613
200oo,77
1, 578002
d 409.672

a 494.455
d








d 576921
d 250.427





d 3784 860
1,013,688









d 3.1 198



d 1.998 5310
d 1.20 809



41169,168



579, 42
d 9 1798
1,.8 272








d 49247235
d 117.J37
d 315.755
323,
2,9215,569








2,d 1.977698.310

d 886.899
d 36 .S01
d 996 9


* Report of receiver or receivers.
I* Report of trustee or trustees.
1* Under trusteeship, Erie R.R. only.
a Includes Atohison, Topeka & Santa Fe Ry. Sulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SInoludes Boston & Albany, lessor to New York Central R.R.
SInoludes 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 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern Pacific Rail-
road Company of Mexico), not included in above statement resulted in a net deficit of $469 580 for the month and
$1,391,266 for the period. These results include #211 172 for the month and $633,516 for th period, representing
interest on bonds of such companies owned by Southern Pacific Company not taken into income by S.P.Co. and there-
fore, not included in the 1940 income results for the system reported above. The combined results for 1946 for
Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies excludingg
S.P.R.R. Co. of Mexico) amounted to a net deficit of $1 664,947 for the month and $4,431,341 for the period. Fig-
ures herein given exclude results of S.P.R.R.Co. of Mexico for the reason that policy was adopted January 1, 1940
of making no further advances to that company, it being required to conduct its operations entirely within its own
resources.N
d Deficit.


.4


*






Subject to revision


UCV. OF F4Lt 4


UNIV. OF- FL LIB.
U. DENTS DEgT.

U.. DETO

U.S. DEPOSITORY


NET INCOME
MILLIONS OF DOLLARS


0v ---------
.0 A

0
to I I l i I I I I I I I I I I I I I I I I l i


1938


1939


UNIVERSITY OF FLORIDA

IIIIIIIIIIIIIII I IIIII1111111 I INTERSTATE COMMERCE COMMISSION
3 1262 08851 1216BUREAU OF STATISTICS


Statement No. M-125

APRIL, 1940


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

Compiled from 152 reports (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


1940


For the month of April


1940


443;t,393
*53, 822, 29


1,848,315
42,521,078
11, 280,516
38,400, 50
S153,124
49,813,70

& 9.261.171
17,036,831
2,864,826


1939


Income Items


For the four months of
1~0o 1939


I.---~ I I


$15,525,769
10,567,202
25,890,971
1,835,280
24, 57,691
11,102,674
38,622,989
d .8067


d 27.623:773
16,839,686
631,214


1,615,922
764,962


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 deductionsl/........................
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 .........................


$148,929,976
43,105,724
192,033,700
8,635,522
183,598,178
43,410,056
155,468,272
518,811
197,397,1-9
d 1M 9.9
d 21i864:778
67,752,936
11,508,799


15,872,675
5,265,416


$101,283,689
42,651,510
143,935,199
8,072,473
135,862,726
435,53,178
1, 592,509
533,542
198,45o029

d 70.43.673
67,262,499
6,150,233


18,501,057
4,816,206


Balance at end of April Balance at end of April
Selected Asset Items Selected Liability Items
1940 1939 19140 1939 5i
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months 3/............... $258,006,296 $251,732,716
of affiliated companies (Total, Account 707)........ $598,989,796 $639,318,563
28. Loans and bills payable 4/. .......................... 179,144,094 212,597,664
14. Cash ................................................ 482,122,600 429,772,47 29. Traffic and car-service balances payable ............. 74, 22,683 65,763,160
15. Demand loans and deposits ......................... 22,005,863 13,306,720 30. Audited accounts and wages payable ................... 227,b29.750 233,78,605
16. Time drafts and deposits ............................. 27,16,28 20,212,5 31. Miscellaneous accounts payable ....................... 61,891,021 65,265,33
17. Special deposits ..................................... 96,00,0 55,661120 32. Interest matured unpaid .............................. 27,258,758 29,20,599
18. Loans and bills receivable ....................*....... 2,782,940 1,299,130 33. Dividends matured unpaid ............................. 1,835,556 1,809,750
19. Traffic and car-service balances receivable .......... 60,53,77 9,526,530 34. Funded debt matured unpaid ........................... 2,0,506
20. Net balance receivable from agents and conductors .... 46,77,959 42,150,163 35. Unmatured dividends declared ......................... 83,7,14 4157,98
21. Miscellaneous accounts receivable .................... 120,161,505 116,118,309 36. Unmatured interest accrued ........................... 27,257, 27957, 689
22. Materials and supplies .............................. 367,531,052 328,332,592 37. Unmatured rents accrued .............................. 0,670,506 31,119,732
23. Interest and dividends receivable .................... 20,614 707 19,230,128
24. Rents receivable ..................................... 1,322,626 1,142,059
25. Other current assets ............................... 4760,010 4,80,971 38. Total current liabilities (items 28 to 37) ...... 715,116,576 752,599 00
26. Total current assets (items 14 to 25) ........... 1,251,453,336 1,081,132,702 39. Tax liability (Account 771):
39-01. U. S. Government taxes ...................... 89,516,122 55,815,304
_-02. Other than U. S. Government taxes .......... 130,812,721 138,927,939

ANALYSIS OF NET INCOME j/

Month of April 1940 Month of April 1939 For the fouw months of 1940 For the four months of 1939
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

51 $11,267,572 78 $20,528,743 37 $2,318,163 92 *29,941,936 58 *48,928,142 71 $70,792,920 52 $25,809,927 77 *96,253,600


U. S. GOVERNMENT PRINTING OFFICE: 1940-0-1569
SRepresents accruals, including the amount in default.
SFor 99 railways not in receivership or trusteeship the net inoome or defloit was as follows; April 1940, *2,659,875; April 1939, d *14.168.891; 4 months 1940, *18,366,545; 4 months
1939, d $21.627.216.
Includes payments of principal of long-term debt (other than long-term debt in default) which will become due within six months after lose of month of report.
Includes obligations which mature not more than 2 years after date of issue.
1939 figures for certain liability items have been revised, for comparative purposes, to conform with changes prescribed in the Uniform System of Accounts by Gommission's order of
December 6, 1939, effective January 1, 1940.
Excludes reports of 3 roads whose net inoome (or deficit) was absorbed by the controlling company.
Deficit or other reverse items.


64


rTrrrrlTMrrTFrTT














INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(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

1940 1939 1940 1939


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 RyP* .....................
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 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 RyV*......................
St. Louis, San Francisco & Texas 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 $791.988

d 2.681.:39
d '381,419


216,49
d 503.67
693, 11
d 1.508.527

107,377








d 8,10 I1
1,911,135
d 2 208.45






d 170 .012
4856,052
d 2.109.562







d 2.101.862






14076
1,405:445
d 3.903,766
d 170.012
d 156,052
d 1.023.094
d 4. 3.285
1.865,245
d 1.481.862
d 164,760


d 296.964
9 *674
d 4.284.792
d 141,315
d 546.881
d 1.552.810

124,206
1,124,342
d 2.044.533
d 289,311


503,669
d 1.77.45
d 914!81
A .7


1,014,611
d 1.011.473



1,311,679
11 63,979
2,13,501
d 2889.387
d 169,873
55,161
S 252.86
1,575
S1.77.6
4.3 p::1
d 763,252
d 7,292


d 1643.964
377,634
1,782,103
d 2180992
8,720
d 694.763

5, 04 751
d 403.377

775,468
d 259.032
d 4.966. 19


718 612
194,111
d 1.690,484
d 561.647
d 621.800


d 832.209
2,086,589




403,18



493, s5
1,000,784
1,879,366
d 3.260,251
d 141,037
d 340.631


d 2.510.5 2

3,620,930
d 1.329,996
a 1335914


Report of receiver or receivers.
** Report of trustee or trustees.
*** Under trusteeship, Erie R. R. only.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central R. R.
/ 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 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern Pacific Rail-
road Company of Mexico), not included in above statement resulted in a net deficit of $498 784 for the month and
$1,901,145 for the period. These results include $211 l12 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 by S.P. Co. and, there-
fore not included in the 1940 income results for the System reported above. The combined results for 1940 for
Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies (excluding
S.P.R.R. Co. of Mexico) amounted to a net deficit of $1,137,306 for the month and $5,579,742 for the period. Fig-
ures herein given exclude results of S.P.R.R. Co. of Mexico for the reason that policy was adopted January 1, 1940
of making no further advances to that company, it being required to conduct its operations entirely within its own
resources."
d Deficit.





SC.. I A 3. 3f: q4o0


Subject to revision


UNIV. OF FL LIB.
DCIMENTS DEPT.




U.S. DEPOSITORY


UNIVERSITY OF FLORIDA

II l 111111111111111111 IIIIII11 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1521 STATISTICS
BUREAU OF STATISTICS


Statement No. M-125
MAY,1940


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

Compiled from 132 report* (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS OF DOLLARS
I t | i I I 1 I I I I I I II I I I I I I I I
40 __

Zo A- -

O0



40


1938


1939


1940


Selected Asset Items


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

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 May


1940


$47,076,826
11 15 213
58,232,039
2,017,801
56,214,238
11,2, 97P
38, 7 7
50,45,287
5:, 808951
1,965,701
3,843,71

17,159.010
3,934,931

16,679,721
3,962,660


S I


1939


(25 172,742e
10,750,235
35,922977
1,712,206
34,210,771
11,812,030
11 :
38, 600
2,6
50,569481
d 16.353.910
d 18.315.076
16,8662695
1,192,335


3,957,670
1; 1!



U^:f?;S


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


- - - I-


Balance at end of May


1940


1939


Selected Liability Items


months of


Balance at end of May


1940


- ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ -- *I ______ _______________________


$613,174,300


478,320,131
26,14971,224
147,620,976
,3 895,912
61,517,508
46,762,896
120,382,427
BWs


1,299,925,198


414, ,2 8
13:66676T9
20
2, Td,820


32R:11i:087
09
4 i393


1,065,144,426


27. Funded debt maturing within 6 months A.............
28. Loans and bills payable i........................
29. Traffic and oar-service alances payable .............
30. Audited accounts and wages payable ..................
31. Miscellaneous accounts payable ......................
32. Interest matured unpaid ..............................
33. Dividends matured unpaid ............................
34. Unmatured dividends declared........................
35. Unmatured interest accrued..........................
36. Unmatured rents accrued .............................
37. Other current liabilities ...........................

38. Total current liabilities (items 28 to 37) .....


39. Tax liability (Account 771):
39-01. U. S. Government taxes .....................
39-02. Other than U. S. Government taxes ..........


$167,102,433


1ixoQ I


$169,632,358


1,7055 21208,953
77 7,778 6 90,74
21 7929 231,803082
62, 26.280 0 8 712
26 2,225 170
1 41:946 1 79 7
27 279,251
10 358, 257 189


839.360.016


772.114.806


51,489,046
148.822.344


. ._._._._._._._.. ... _.
ANALYSIS OF NET INCOME f/

Month of May 1940 Month of May 1939 For the five months of 1940 For the five months of 1939
Railas reporting Raways 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
reportsreports reports report reports reports reports reports

62 o20,250,935 67 $16,407,764 46 $4T,741,875 83 $23,056,951 57 (64,079,589 72 t82,101,197 49 $27,793,471 8o0 116,552,220


U. &GOVERNMENT PRINTING OFFICE t140-O.245440
V Represents aoouals, including the amount in default.
y or 9rall ys m not in reoelvership or truste ehlp t net ino ae or deficit was as follows: May 1940, $14,652,579; May 1939, a 14,954,226; 5 months 1940, $33,019,124; 5 months 1939,
d K26.58yr44 _______
Includes payments of prinolpal of long-term debt (other than long-term debt in default) which will become due within six months after lose of month of report.
Includes obligations whioh vatur not more than 2 year# after date of issue.
1939 figures for certain liability items have been revised, for comparative purposes, to conform with changes preeoribed in the Uniform System of Accounts by Commission's order of
December 6, 1939, ffeotive January 1, 1940.
6 Exoludee reports of roads whose net income (or deficit) was absorbed by the controlling oepaWny.
- Deficit or other reverse items.


-F


-
I


. ,


I


(644,666,948


74,382,709
134 82. 620













INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1940, 1939 1940 1939


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 R, ...................
Chicago & North Western Ry. ...................
Chicago, Burlington & QuincyR. 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 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, San Francisco & Texas By. .............
St. Louis Southwestern Line& ....................
Seaboard Air Line Ry ............................
Southern Ry.................................
Southern Pacific Transportation System c/ .......
Texas & Pacific Ry ............................
Union Pacific R. R. (including leased lines) .....
Wabash Ry .s.... ....... .... ...............
Yazoo & Mississippi Valley R. ................


d 2.7174

9d2171o69
587,889
1,270,592
1 855, 38
a 185,861

d 1.73
d 4.
2,495, 33

d18477


497,140


d 2.351204


.1

S 50.927



d 815.397



1,562 51
d 2173,




d 2155,51


78458



5l ,314
1558964

YII#Iqi


1,208,203
d 1 41



1, 5416o3
2,182 167
3,151,000
d 3.590,091
d 185.722
26.091
d 769.006
d 1.48
5, 50;727
d 25-4


d 1
1,68,989


,788



481,941
1 260o817
d 4.960,168
a 173,016
a 557.752
d 1.284.162

d 1.6o.
A b ,90


Report of receiver or receivers.
Report of trustee or trustees.
e** Under trusteeship, Erie R.R. only.
a/ Includes Atohison, Topeka & Santa Fe By. Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe By.
SInoludes Boston & Albany, lessor to New fork Central R.R.
o Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: "Figpres reported above for Southern Pacific Transportation System exclude offsetting debits and
credits for rent for leased roads and equipment, and bond interest, between oeqpanies included therein. Operations
for 1940 of separately operated Solely Controlled Affiliated Companies excludingg results for Southern Paoifio Rail.
road Company of Mexico), not included in above statement resulted in a net deficit of 1449,718 for the month and
$2,350,863 for the period. These results Inolude *212,167 for the month and $1,056,795 for the period, representing
interest on bond of such companies owned by Southern pacific Company not taken into inoome by S.P.0o. and there-
fore not included in the 1940 inoom results for the System reported above. The combined results for 1946 for
Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies excludingg
S.P.R.R.Co. of Mexico) amounted to a net deficit of 1283,932 for the month and *5,863,674 for the period. Figures
herein given exclude results of S.P.R.R.Co. of Mexico for the reason that policy was adopted January 1 1940 of mak-
ing no further advances to that company, it being required to conduct its operations entirely within its own re-
sources.i
d Deficit.


51 2
d 6.02
d *b14.825




E e-. I .At 3 :q40


Subject to revision


UNIVERSITY OF FLORIDA

II II II1111 IIIII IIIIMIIIUIII INTERSTATE COMMERCE COMMISSION
3 1262 08851 1539
BUREAU OF STATISTICS

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


Statement No. M-125
JUNE, 1940


Compiled from 132 epioeats (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


NET INCOME
MILLIONS QF DOLLARS
L~hh~h~Ih'~, I -W, r


UNIV. OF FL LI




U.S. DEPOCiTORY


40

0



to

40


I
-I-- ---

LLI==L"V==L 1L


1938


1939


1940


For the month, of June


1940 "'


4:7.484.657
14,705,250
62,189,907
2,358,290
59,831,617
11,870,161
38,819,501
129,1191
50,818,781
9,012,836,
1,963,278
7,0o49,58
17,143,554
5,129,5541

3U,


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) .....
r11. Federal income taxes ................................
12. Dividend appropriations:
12-01. On common stock ............................
12-02. On preferred stock ........................


For the six months of


1940


4242,432,055
68,962,017
311,394,072
13,011,613
298,382,459
67,139,614
230,704,963
776,633
298,621,210
d 238, 751
11,7941875
d 12,033,626
102,055,o501
21,660,675


1939


$165,623,213
66,893,963
232,517,176
11,828,937
220,688,239
66,574,862
231,568,987
798,381
298,942,230
d 78.253.991
11,769,]o
d 90,023,694
100,950,683
9,:4:945


Balance at end of June Balance at end of June
Selected Asset Items Selected Liability Items
1940 1939 1940 19395/
13. Investments in stocks, bonds, etc., oth~r than those 27. Funded debt maturing within 6 months / ................ $148,821,071 $188,494,605
,'of affiliated companies (Total.. Account 707)....$......599,914?535 6636,370,943
14. Cash 28. Loans and bills payable ............................ 177,441,113 212,683,918
15. Demand loans ad deposits .. ...36........7 430,302330 29. Traffic and car-service balances payable ............. 80,487,19 76,113,573
16. Time dratns and deposits ............................ 26,2758- 2 15,818~ 5 30. Audited accounts and wages payable ................... 225,742,52 222,866,024
Se d and deposits ........*................... 27.086, 20,838 31. Miscellaneous accounts payable ....................... 71,71,680
17. Special deposits .............. ................ 131,1846,6 71,1 4 2. Interest matured unpaid.............................. 6,07 50,063,09
18. Lan an bills receivable .......................... 196119 419 33. Dividends matured unpaid ............................. 1,322,09,390,963
19. Traffic and car-service balances receivable 609,319 '34. Unmatured dividends declared ........................93,2390,2963
20. Net balance receivable from agents and conductors .... 9 3,9 6 674,290 Unmatured ieres accred........................... 7,687,65 7 36
21. Miscellaneous accounts receivable .................... 122,66,701 16 ,707 36. Unatured rents accrued .............................. 16,1,929 1 7
22. Uaterialsand supplies. rev...351,ce336,85 ceivabe .318,895, 39 37. Other current liabilities ............................ 78, 3383,04 ,717, 02
23. Interest and dividends receivable........................20 6,608 17,912,065
24. Rents receivable ....................... ......... ....4.. o3,801 1,271, 88
25. Other current assets ................................. 6,302,03 6,228,835 38. Total current liabilities (items 28 to 38) ...... 789,365,291 769,872,720
26. Total current assets (items 14 to 25) ........... 1,279,696,964 1,101,884,172 :39. Tax liability (Account 771):
39-01. U. S. Government taxes ...................... 85,070,860 55,017,951
____ ___ 39-02. Other than U. S. Government taxes ........... 138,628,338 156,251,604

ANALYSIS OF NET INCOME 6/

Month of June. 1940 Month of June 1939 For the six months of 1940 For the six months of 1939
RailwaySdreporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a not deficit a net income va net deficit a net income a net deficit a net income a net deficit
Number Number Number Number Number Number Number Number
of Amount o 'f Amouat of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports rep sorts reportspo reportsorts rts reports

55 43,306,827 74 $16,257,269 147 $18,431,081' 82 (19,696,027 57 $80,152,994 72 $92,186,620 49 $37,809,953 so $127,833,647

U U.S. GOVERNMENT PRINTING OFFICE :1940-0-245440
I/Repres4nts adcruals,V ijaltuding the amount in default.
Fo 29 railw4a no. n receivership or trusteeship the net income or deficit was as follows:e June 1940, $17,387,346; June 1939, $11,331,691; 6 months 1940, 849,344,895; 6 months 1939,
/ Includes payments of principal of long-term debt (other than long-term debt in default) which will become due within six months after close of month of report.
Includes obligations which mature not more than 2 years after-date of issue.
1939 figures for 9ertain liability Items have been revised, for comparative purposes, to conform with changes prescribed in the Uniform System of Accounts by Commission's order of
December 6, 1939,9-ffeotive January i, 1940..
/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
SDeficit or other reverse items.


k ^ ..a .


1939


39.,1664783
13,192,219
52,659,002
2,044,259
50,614,743
11,369,653
38,46.653
132,216
49,918,522
696,221
1,961,167
d 1.26,.9 ~
16,80o5,486
2,132,377


I


-1 1


i













INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(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

1940 1939 19 40 1939


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*S?......................
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 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, San Francisco & Texas Ry. .............
St. Louis Southwestern Lines*"....................
Seaboard Air Line Ry.*...........................
Southern Ry.. .......................... ..........
Southern Pacific Transportation System c/ ........
Texas & Pacific Ry ........................ ..
Union Pacific R. R. includingg leased lines).....
Wabash Ry. .....................
Yazoo & Mississippi Valley R. R. .................


d 1.251.831
d 1.808.353
16,2 2, 9
d 994.747
d 6,701:535


514,852
d 420.001
d 3.00 30
1,201.651.
d 1,65-1:96


3,572,580


d 576b.11
547,894

d 2.3il6.47T


1,756,753
2,3P9,916
d 5.142.,077
d 2w6,919
d 2.15.984
1,0381471
d 3.7750728
,-yJ 263
3,85664
d 2g 45


489,395
d 852.976

d 246


1,372,551
S 430

d 95659n
d 121.945

d Oal
4,175,'00.

d_ 656.176
1,_16261
S 5.86 387

di11.19 ,75-3
d 2,926.703.
d 3.0.386
2!3,9535


d $1.O64.629
4,269,146
d 119.895
2,447;4b5
627,743
d 825.098
A l.O110462
20, 99,236
d- 692.072
d 4.23,969







2 2
446,244
d 326.666







606,273
1,o427,41


430,957
d 1.025.055
606,273
1,427,401,
430,950
d 1,025,05
5, loo100
d 2.5 ,817
d 7,581.49

1,341,878
d 1.758.871



1,485,223
2,850,:627
3,835,386

52,635

1,02,70



d 1.372
31 9,38W
;1


d $840.717
2,774,958
1,133,122
d 2,756~ 91
129,690
d 1.053.897
d 1.424.151






a .808. .6
10, 784864


647,044
d 278,784

d 1',65g:839
996,939
366,765
d 2,764 .888
1,o.5,031
d 808,806
d 957.236
d 1.547,-73
1,74; 96
d i. 5 ,
'- 7 .


S663,264
d 1.084.953



2 08
1,633,01
2,971,695
d 4,326.576
a 131,120
d 888.691
6sss 691

893,830
559,842
6,657:065

d 2,0 9.9


Report of receiver or receivers.
Report of trustee or trustees.
*e* Under trusteeship, Erie R. R. only.
a Includes Atohison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
SIncludes Boston & Albany, lessor to New York Central R. R.
o/ Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines., The report contains the following
information: "Figures reported above for Southern Pabific Transportation System exoludeioffsetting debits and
credits for rent for leased roads and equipment, and bond interest, between qospanies included therein. Operations
for 1940 of separately operated Solely Controlled Affiliated Companies (excldding result for Southern Pacific
Railroad Company of Mexico), not included in above statement resulted in a net itficit ofi4 99,006 for the month
and 2,749,869 for the period. These results include *213,048 for the month and *1,269,43 for the period, repre-
senting interest on bonds of such companies owned by Southern Pacific Company not takon into income by S.P.Co. and,
therefore, not included in the 1940 income results for the System reported above. The combined results for 1940
for Southern Pacific Transportation System and separately operated Solely Controlled AffiliatedCopanies (exclud-
ing S.P.R.R.Co. of Mexico) amounted to a net income of *607,920 for the month and a net deficit of $5,255,754 for
the period. Figures herein given exclude results of S.P.R.R.Co. of Mexico for the reason that policy was adopted
January 1, 1940 of making no further advances to that company, it being required to conduct its operations entirely
within its own resources."
d Deficit.


d 1.479.852
d 2,124,708
- 5,958,11





fC, IA bt,5, 9'4O


Subject to revision


UNIVERSITY OF FLORIDA

S3IIIIIIUl lllllll INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
JULY, 1940


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

Compiled from 132 reports (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

TOTALS FOR THE UNITED STATES (ALL REGIONS)


UNIV. OF FL LIS.
DOC NT PT




U.S. DEPOTTOAY


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 I



20 -





-40
ULI L1i1 II1 I L L


1938


1939


1940


For the month of July


1940


$57,104,166
12,960,040
70,064,206
1,735,270
68328,936
11,716,478
38, 92,3o5
119,575

1,958,277
1602,301
17,190,956
5,914,332

4,655,014
2,42,081


1939


$48,996,614
12,001,399
60,998,013
1,901,655
59,096,358
11,679,322
38,557,0o6
132,058
50,3 8,87
8,7127 1
1,961,166
6,766,805
16, 12,736
2,661,534

2,616,241
764,962


I------I1~------


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


For the seven months of


1940


$299,536,221
82,422,056
381,958,277
14,746,881
367,211,396

269,19,:267
89a,208
348,9 :,567
186, ,829
13,753,152
4,508,677
119,246,462
27,585,oo7


41,441,244
12,010,903


1939


$214,619,830
78,895,362
293,515,192
13,7 0,596
279,7814,596
78,254,184
270,125,99
3t9,310,616
d 9.5256.020
13,730,869+
d 83.256.889
117,74:,418
12,136,479


37,288,517
10,211,455


Balance at end of July Balance at end of July
Selected Asset Items Selected Liability Items
1940 1939 1910 1939 5/
13. Investments in stocks, bonds, etc., other than those 27. Funded debt maturing within 6 months ]................ $73,659,774 $166,623,678
of affiliated companies (Total, Account 707)....... $595,067,.688 $636,302,963
f a d c s ( A t 75,0,28. Loans and bills payable V/............................ 160,622,073 211,494,453
14. Cash ................................................ 498,377,149 40,08,'460 29. Traffic and oar-service-balances payable ............ 83,729,982 77,864,743
15. Demand loans and deposits ............................ 30,703,583 17,869,0i 30. Audited accounts and wages payable ................... 229,709,352 23,664, 103
16. Time drafts and deposits ............................. 27,020,49 20,991,341 31. Miscellaneous accounts payable ....................... 65,84,227 67,942,423
17. Special deposits ..................................... 112,12,851 58,51,098 32. Interest matured unpaid .............................. 22,047,'632 20,970,92
18. Loans and bills receivable ........................ 2,6,6 1,573,812 33. Dividends matured unpaid ............................. ,41 891,68
19. Traffic and car-service balances receivable .......... 65,59,80 o5,5'w,782 34. Unmatured dividends declared ........................ 772 2,3,8,2
20. Net balance receivable from agents and conductors ... 48,837,606 ,0,99 35. Unmatured interest accrued .......................... 79,7,026 81,588667
21. Miscellaneous accounts receivable .................... 122,960,186 117 9 36. Unmatured rents accrued ............................. 18,826,843 19,545,887
22. Materials and supplies .............................. 347,513,676 312,341,74 37. Other current liabilities ............................ 43,012,360 29,390,861
23. Interest and dividends receivable .................... 17 I,675 13 922 ,.
24. Rents receivable .................................... 5 23 ',1 31,
25. Other current assets ................................. 6,658,332 6,906,29 38. Total current liabilities (items 28 to 38) ...... 714,873,378 749,694,636
26. Total current assets (items 14 to 25) .......... 1,281,738,524 1,095,862,402 39. Tax liability (Account 771):
39-01. U. S. Government taxes ................... 94,347 3 59,016,291
39-02. Other than U. S. Government taxes ........... 150,883,979 157,548,223

ANALYSIS OF NET INCOME E/

Month of July 1940 Month of July 1939 For the seven months of 1940 For the seven months of 1939
Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting Railways reporting
a net income a net deficit a net income a net deficit a net income a net deficit a net income a net deficit
Number Number Number Number Number Number Number Number
of Amount of Amount of Amount of Amount of Amount of Amount of Amount of Amount
reports reports reports reports reports reports reports reports

63 $27,716,037 66 $11,673,736 58 $21,679,263 71 $14,912,458 58 (101,691,972 71 (97,183,295 50 (52,989,363 79 $136,246,252
U S. GOVERNMENT PRINTING OFFICE : 1940-0-245440
1 Represents accruals, including the amount in default. GOVERNMENT PRTI OFFICE
SFor 99 railways not in receivership or trusteeship the net income or deficit was as follows: July 1940, $23,176,183; July 1939, $17,111,489; 7 months 1940, $73,021,078;
7 months 1939, $1,861,738.
/ Includes payments of principal of long-term debt (other than long-term debt in default) which will become due within six months after close of month of report.
Includes obligations hioh mature not more than 2 years after date of issue.
1939 figures for certain liability items have been revised, for comparative purposes, to conform with changes prescribed in the Uniform Syatem of Accounts by Commission's order of
December 6, 1939, effective January 1, 1940.
6 Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling company.
SDeficit or other reverse items.


I


21













INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1940 1939 194o0 1939
I I I55


Alton R. R ..................
Atchison, Topeka & Santa Fe Ry.
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.................
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 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. Louic, San Francisco & Texas 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 .................


d 174.60,679
d 242:809
- 1,18,

d 1.460699



d 92 ,



d 5288,54.6
d 1,16.842












a 5soii,
d 6,716,-368







4,245973,261








d
d 9.07.91
S 71,923.429
752,824
d 61783,8702























22 6
4,771495,212
d 1,719,611
d 329.142
d 2,264.4 8
d s580,:4
d 1,71b,?4
4,273,261
d 3.587.918
d 1,919,904
d 7 .78L54ib

687,863



196,362
2,317.413
2,864,469
d 5,783.846
d 1651




4,771:491
d 2,758.140
d 475:214


d $963,301
1,321,506
159,897
a 6,370,938
d 619.769
d 1.71.86


d 10:06,fe42b


505,841
d 1 241 144
520-882
d 3.194.009
d 1.921.189
d 2989 4896
d 1716047
d 957,511
d 1.135,6
1,991,220
d 2,153,128
d 9,243 129
a- 9.242 92
d 149829

d 5.688.829
5,919,491
d 892.707
-75, d12
1,653,523
d 6.549,640
d 86,761
d 1,555484
d 3.681.316
11 .759f
a 28,507

d 3.448,323
d 5bO6,I4,


d $1,03,634
9,242,865
1,018,773
3,257,367
965,711
d 963.168
d 1.282.5
d 783,596
d 3,868,915


1,369,233
d 2,74.504
89,6385
406,579
362,535
2,715,393
1,154,272
636,593
d 1.033.677
6,810,495
d 2.873.990
d 1,227.911
d 5,167,824
9,197,35
1,614,140
d 1.798.720
22,115,073
d 787,035
30,429,490
1,524,553
4,596,586
,642,:476



d 1.9289096
307,254112
904,764
1,155,812
9,213,964
d 1.498.007
d 187,926-


d $813.489
8,217,558
1,378,866
d 2,183,706
284,192
d 1.222.084
d 1617.37
13, 800,503
d 829.k64
d 7,16.f,000oo


1,097,236
181,144
d 3.175.876
d 6
d 1,049.957
d 1,241,555
d 840,041

277,3.85

4,518,511
d 3.846.394
d 1,373,47
d 6,700,155
5,276
764,984
d 1.582.Z74
14,357,57
d 3,715,592
21,322,180
487,485
2,063,730
:,448,978
d 4,758.409
a __ 6 275
a 1,19* 869
d 2,425,497
2--,137,550
2,533,973
671,922
8,183,774
d 2.195,874
d 283,141


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.
I/ 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: "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 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern Pacific Rail-
road Company of Mexico), not-included in above statement, resulted in a net deficit of $442,216 for the month and
$3,192,085 for the period. These results include $213,426 for the month and $1,483,269 for the period, representing
interest on bonds of such companies owned by Southern Pacific Company not taken into income by S.P. Co. and, there-
fore, not included in the 1940 income results for the System reported above. The combined results for 1940 for
Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies (excluding
S.P.R.R. Co. of Mexico) amounted to a net deficit of $175,638 for the month and $5,431,392 for the period. Figures
herein given exclude results of S.P.R.R. Co. of Mexico for the reason that policy was adopted January 1, 1940 of
making no further advances to that company, it being required to conduct its operations entirely within its own
resources."
d Deficit.


System a/ ......
........,+=...o...




8'
1"C !/zte~3klV-9~


UNIVERSITY OF FLORIDA

3 I 1~ I III I I llllI I
3 1262 08851 1547


Statement No. M-125
AUGUST, 1940


UNIV. OF FL LIB.


l f Represents acoruals, including the amount in default.
2/ Por all Class I Steam Railways the not income was xe follows:


S 1940 1939


Period


Increase


3 months ended August 31 44,939,516 $15,741,902 $29,197,614
Months ended August 31 34,566,809 d 4,437.,702 75,oo4,511
12 months ended August 31 196,203,617 d 11,b0,61 207,844,378
3/ For railways in receivership and trusteeship the ratio was as follows:
August 1940 .70; August 1939 .42; 8 months 1940 .44; 8 months 1939 .26.


'/ 193 figures ror certain liability items nave oeen revised, ior comparative purposes, Uo con-
form with changes prescribed in the Uniform System of Accounts by Commission's order of
December 6, 1939, effective January 1, 1940.
5/ Includes payments of principal of long-term debt (other than long-term debt in default) which
Will become due within six months after close of month of report.
6 Includes obligations which mature not more than 2 years after date of issue.
7/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling
company. S. GOVE.OMENT PRINTING OFFICE 140-0- 245440
d Deficit or other reverse items.


Subject to revision


U.S. DEPOSITORY


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

Compiled from 132 reports (Form IBS) represenng 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
Class I railways not in
All Class I Railways Receivership or Trusteeship
Income items For the month of August For the eight months of For the month of August For the eight months to
1940 1939 1940 1939 1940 199 194o 1939
1. Net railway operating income ......................... $66,014,793 $54,567,357 *366,257,821 $269,187,185 $56,142,929 48,825,574 $321,433,713 $215,316,76
2. Other income ........................................ 10,60,607 10,433,058 93,2 ,665 8932 22 9,68 9 969555,49 83,892584 8o,466,037
3. Total income ................................... 76,685,40 65,000,415 459,350,486 358515,607 65,826,493 58,381,023 405,326.297 325,782,805
4. Miscellaneous deductions from income ............... 2,123,706 1,845,513 16,870,588 15,576,107 1,717,212 1,592,07 14,542,705 13,49,707
5 Income available for fixed charges ............. 4,561,694 63,1,902 442,479,898 342,939,500 64,109,281 56,788,944 390,783,592 312,433,098
:6. Fixed charges:
6-01. Rent for leased roads and equipment ......... 12,403,464 12,248,481 91,282,057 90, 52,666 11,332,064 1,o4,156 84,054,69 83,417,944
6-02. Interest deductions / ..................... 38,35,056 38,573,2o 307,553322 08,9,35 24503,172 24,69,50 196,629,4 197,531,56
Other deductions ........................... 11 7 131,970 1,015,181 1,62,409 87,155 8,2 753, 71,2
6-04. Total fixed charges ................... 50,878,493 50,953,691 99,850,560 400,264,10 5,922,391 35,842,O8 281, 45,306 281,740,721
7. Income after fixed charges ..................... 23,683,201 12,201,211 42,629,338 d 17.24.810 28,186,890 20,946,856 109, ,286 30,692,377
8. Contingent charges ................................. 1,95,278 1,961,168 15,711,430 15,692,037 1,195,896 1,198,786 9,612,374 9,592,981
9. Net income / ................................. 21,724,923 10,240,043 26,917,908 d 73.o16.847 26,990,994 19,748.070 99,733,912 21,099,396
10. Depreciation (Way and structures and Equipment) ..... 17,256,061 16,873,945 136,502,522 134,617,363 13,556,290 13,233,897 106,950,943 105,487,497
11. Federal income taxes ................................ 6,903,907 3,399,688 34,488,814 15,536,167 6,85,011 3,382,355 34,270,20b 15,376,301
12. Dividend appropriations:
12-01. On common *tock ............................ 13,162,485 12,4,6785,64,603,729 50,032,195 13,162,485 12,43,678 54,603,729 50,32,195
12-02. On preferred stock ........................ 2,641,4 2,641,302 14,652,370 12,852,758 2,641,466 2,641,302 14,652,370 12,852,758
Ratio of income to fixed charges 3/ (Item 5 6-04) 1.47 1.24 1.11 .86 1.79 1.58 1.39 1.11

All Class I Railways Class I railways not in
-Receivership or Trusteeship
Selected Asset and Liability Items 4/ Balance at end of August Balance at end of August ANALYSIS OF NET INCOME ALL CLASS I RAILWAYS V/
1940 1939 194o 1939

13. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707) ...... $576,922,963 $636,031,526 s515,001,147 $553,948,700 Railways reporting Railways reporting
14. Cash ................................................ 536,636,188 464,097,8 415,042,559 371,361,519 Period Number Number
15 Demand loans and deposits .......................... 35,192,770 19,697,402 30,690,041 16,224,673 of Amount o Amount
16. Time drafts and deposits ............................ 27,531,387 21,410,084 25,063,598 18,992,517 reports reports
17. Special deposits .................................... 90,027,755 60,238,012 71,730,388 46,839,00 4
18. Loans and bills receivable .......................... 2,507,015 1,519,476 2,156,245 1,197,604 August.. 194o 72 $30,934,559 57 99,,0636
19. Traffic and car-service balances receivable ......... 65,917,666 58,298,117 55,316,783 48,520,79 August.. 199 69 24,6,759 1366,716
20. Net balance receivable from agents and conductors ... ,259,104 47,3,013 37,014951 36,346,88 8 months 1940 6 128,606,323 69 101,688,415
21. Miscellaneous accounts receivable ................... 126,031,148 117,747,371 97,862,651 89,914,451 8 months 1939 51 73,087,587 78 146,104,434
22. Materials and supplies .............................. 340,959,508 308,863,105 263,512,790 235,930,75
2. Interest and dividends receivable ................... 17,787,867 16,231,828 15,234,973 13,803,31
Rent receivable .................................... 1,228,138 1,2,606 777,301 737,096-
25. Other current assets ................................ 7,131,934 7,199,558 5,178,728 5,722,236 IONS INCOM ALL CLA55I RAILWAY5
MILLIONS OF DOLLARS
26. Total current assets (items 14 to 25) .......... 1,300,210,480 1,124,019,610 1,019,581,008 885,590,376

27. Funded debt maturing within 6 months 5/ ............. $71,339,395 $168,144,217 43,662,539 $127,103,768 o
28. Loans and bills payable / .......................... 159,895,368 207,476,661 32, 31,912 80,456,801 40
29. Traffic and car-service balances payable ............ 85,189,548 79,043,347 0,621,498 55,750,315
30. Audited accounts and wages payable .................. 239,726,550 230,587,349 184,845,086 17,;274,361 2o A
31. Miscellaneous accounts payable ..................... 59,978,673 60,925,051 48,171,008 4-45,052
32. Interest matured unpaid .......................... 21,883,932 23,743,490 17,101,772 19,463,879
33. Dividends matured unpaid ............................ 1,394,031 1,564 7 1,031,428 1,181,302 0
34. Unmatured dividends declared ...................... 17,983,616 14,506,33 17,98,616 14,306,3
3:. Unmatured Interest accrued .......................... 86,421,330 85,591,822 66,261,134 64,923,46 / /
3. Unmatured rents accrued ............................ 2,190,6 25,2,005 21,106,220 21,30,266 -
37. Other current liabilities ........................... 39,889,749 29,425,186 28,992,031 19,473,358 -
38. Total current liabilities (items 28 to 37) ..... 736,553,793 757,867,491 478,648,705 498,175,133
39. Tax liability (Account 771): MM J J ASOND F MAMJ ASONJ F MAMJ A SON
39-01. U. S. Government taxes .................... 83,480,565 57,63,264 76.000,613 51,152,395 i SONJ A 10ASMA
39-02. Other than U. S. Government taxes ......... 156,673,902 16J,085,269 106,563,840 113,754,0689 O
;673902 ,08:.2~ 1Q,56:gi


fr


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS













INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(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

1940 1939 1940 1939


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*t ..................
Chicago & North Western RyP*t.....................
Chicago, Burlington & Quinoy 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 RR. .............
Denver & Rio Grande Western R. R.**...............
Elgin, Joliet & Eastern Ry. ......................
Erie R. R. (including Chicago & Erie R. R. )F....
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, San Francisco & Texas Ry .............
St. Louis Southwestern Lines*....................
Seaboard Air Line Ry ............................
Southern Ry. ....................................
Southern Pacific Transportation System c/ ........
Texas & Pacific Ry. ...........................
Union Pacific R. R. (including leased lines) .....
Wabash Ry* .....................................
Yazoo & Mississippi Valley R. R..................


d $1,429,798
3,457,329
d 687.88
419,900
d 1.702.795,
d 2,421,du{
23,021,429
d 1,195,986
d 6,4b1,872


983,739
d 867.213
3. 5645.885
1,860,541
d 1.417.388
d 450,023
2 08


1,.91,746552
d 2,815.083
sd 678,589
d 97.,639
5,o59,686
d 3.618,38
d 2 I I
d 6.805o,
1,007,452
1,102,552
d ,9291,073
21,122,147
d 2,182,821
18,522,152
346,474
2,962,718
3,377,282
d ,.440,576
d 186,925
d 465,001
d 4,110,953
1,514,2P7
d. 2.327.542
510,57
6,591,574
d 3.050.075
d 442, 62


d 1,005,148
2,241,925
d 465.9112
d 44b, 880
d 2.004.162







772,413
d 3.,519,51






S2
d 2,712,9276
d 2,2618
5177,413











a l.,9oool9
d 1.86.173

d 4 ,22 a
d 3,519,478
d 2.333.637





d .1 56.400
d 2 064 2
d 1 217,307,870













a 1ll,26
a 1,di67,92t
2,712,276
d 4,80,6293
d 21626-1








d 83,963,646
d 1266947
d 4.222 729
14,681,140
d 5.458.400

d 999.841
1,925,618
d 111,265
d 1.867,923
d 4,518,629
53 542
d 1.243.131
6,134,933
d 3.963,646
d 674:097


d $1.256.361
11, 431,614
4, 9,732,
1,387,875
d1,;34,529
d 1.51



2,443,883


d 1 b610,364
1,693,202
769,214
d 2.816.705
2,552,5b6
1,012,804

398,863
5,437,82o0
51,34,335
710,338
d 166,096
7,958,475
d 2.803.793
d 1.464.470
d 5,812!=8
11,632,397
2,161,40g
d 1.780,894
25,275,311
75,756
36,628,584
1,860,731
4,431,811
5,407,803
d 4,410,512
d 186,786
d 40,799
d 2.548.061
3,8667
2,953,768
1,319,528
11,685,786
d 1,609,266
d 109,760


d $833,844
10,121,457
923,620
5+43,3
d 1.46.54

17,782 5
d 937.512
a 6,905,719
2,236,766
d 135.598
d 4,266
d 1,874: 3
1,252',439
d 61. 490
d 3,419.78,
1, 02,160
d 1,069,235
d 1,556.910
1,322j608
2,310,401
199,827
a 3l13,638
5,602,989
d 3.990.081

1,676,21t7
1,031,352
d 1.972.007
18,048,179
d 3,203,146
26,604g,2-34
575,098
2,558,207
4,000,001
d 5.262.864
a 110,t710
d 1.455.642
a 3.082.5
2,-p 5,9:5
3,992,499
815,148
11,063,339
d 2,531,496
a 353,459


*Report of receiver or receivers.
** Report of trustee or trustees.
*** Under trusteeship, Erie R. R. only.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R.R.
D/ 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. Opera-
tions for 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in above statement, resulted in a net deficit of $421,327 for
the month and $3,613,412 for the period. These results include $213,768 for the month and $1,697,037 for the
period, representing interest on bonds of such companies owned by Southern Pacific Company not taken into income
by S.P. Cc. and, therefore, not included in the 1940 income results for the System reported above. The combined
results for 1940 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated
Companies (excluding S.P.R.R. Co. of Mexico) amounted to a net income of $1,187,675 for the month and a net
deficit of $4,243,717 for the period. Figures herein given exclude results of S.P.R.R. Co. of Mexico for the
reason that policy was adopted January 1, 1940 of making no further advances to that company, it being required
to conduct its operations entirely within its own resources."
d Deficit.





1:I A4c, 34: 9fo


Subject to region


UNIVERSITY OF FLORIDA

II 3 II II II l I 1111111 i IIIIIII l
3 1262 08851 1554


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-25
SEPTEMBER 1940


UNIV. OF FL. LIB.




U.S. DEPOolTOMY


SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES
Compiled from 11 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All Class I Railways Class I railways not in
IncoeIems Receivership or Trusteeship
Income Items
For the month of September For the nine months of For the month of September For the nine months of
1940 1939 1940 1939 1940 1939 1940 1939
1. Net railway operating income ................... .... $74, 9,23 6,529620 40,433,544 $355,716,06 $606o 72,805,940 $382,976,662 0318,122,708
2. Other income ....................................... 11,33,09 1035,246 104,9,376 100,363,669 10,413,6 10,132,432 94,231,920 90,98,470
3. Total income .................................. 85,5~,243 97,554866 544, 82,920 456,080,475 71274,095 82938,372 76,508,582 408,721,178
4. Miscellaneous deductions from income ............... 1,883,641 1,865,607 7542117521 ,441716 1,626,073 1,62,0,85 16,168 778 14o 69,79
F Incomeavailable for fixed charges ............ 83,64599 95,699,259 526:28,689 438,638,759 69,648,022 81318,287 1460:339:804 393,751,38
charxed gaes:
6-o1. Rent for leased roads and equipment........ 1.,046,485 13,945,54? 104,254,14 O4,44,211 12,063,618 12,705,o42 96,43,968 96,122, 8
6-02. Interest deductions 1/... ................. 3.7 4, 38,398,53 3 ,372,751 347,097,765 23,981,57 2 578 219,45,860 222,16,1
v Othern deductions .. ..............25: 1 187,057 9 6,889,22
7. Total fixed charges ................... 50,49,712 52,475 74 0,0,,4 36,1,i`2,10223,7,16,10#44 39,118,823
Ratio of income tor fixed charges .................... 2 1.6 872 1.17 .97 15,.93 .18 1.45 632
S Contingent charges ................................. 9 7 ,96,167Se r B17 669, 9 T of S er A SIS OF E9 AL C S I 7/3 6





1 9459 193967 1940 19390
13. Investments In stocks, bonds, etc., other than those
9. C et income /... ................................. 56 27 51, 62,297 5,598,577 ,,558,768 a et 19,:3e 427 t
10. Depreciation (Way and structures and Equipment) .... 17 272,940 16,866,171 13775,2463 151,8423534 13e75071 1,218978 u r 120,526014 118,706,475
11. TFederafl anome taxes ............................ 8,610,853 2,396,223 43126,857 19,932, 2908, 9625 3 ,591 2,96,021 19,725,892
12. Dividend approprlatione:
12-01. On common stock ....................... 9.1,66789 1,246 6271,3185 48, 1 1, 777,26 6,271,318 51, ,
12-02. On preferred stock ....................... ... 275,0 5, 325 1727,271 451 ,9,411 1667p0 54,3'25 14,727,271 13,r7,0p83
Ratio of income to fixed charges 3r (Item 5 6- 4). 1.64 1.82 1.17 .97 1.93 2.18 1.5 1.23

All Class I Railways Class I railways not in
2eosivership or Trusteeship
Selected Asset and Liability Items Balane at end of September Balane at end of Septmber AALYSIS OF NET INCOME ALL CLASS I RAILWAY S
1940 1939 1940 1939
13. Investments in stocks, bonds, etc., other than those 5 8 97
of affilid ated companies (Total, Account 707)....... 588,705,937 $631,338,121 f508,890,18255 59,281,9423 Railways reporting Railways reporting
14. Cash .....ad bill payabl.......................... 56,76,790 20,44,63 a t Income a Net Deficit
3. Aianted loans and depoits ........................ 23, 144 21,9 870 42 3172,8705 18,64 673Period ber
31. ellaneoufts and deposits .......................... 69 25 6729 50122,12,9775 527 20, o ount of Amount
17. Special deposits ................................. .99,488,657 6, 3964 897 773, 8 4115 871 o29 ount o AmountT











33. Dividends matured unpaid ........................... 13 0 67 10 927 702 271 1 06 0
31. Loans and bills receivable ......................... 2,558,230 1,784,23 L 9 1 6,16 1,9,1109 reo _
19. Traffic and car-service balances receivable ....... 67,504,940 62,48,859 6,84 0 September 140 81 6,1 47 5,501,203
20. Net balance receivable from agents and conductors 57,978,917 56,26,95 3,2 925 2,992,357 September 1939 88,5 82 1 40 5,282,285
21. Miscellaneous accounts receivable ................. 132,819,769 120,126,90 10'7 082 915152 9 moths 19 62 15 6,6 66 999 76
22. Materials and supplies ............................ 336,063,039 305,6595367 26,79 4 2 3,58 3
32:06 Rn rcvb.8, 035 61, 884 2:89,908 9 months 1939 72 105,409,06 56 137, 617
S Interest and dividends receivable .................. 206 19,4 0,35 17,5,61 15 0 2 9 61
.Rents receivable .................................. 1,4 0150, 945,7 ,0
25. Other current assets................................ 7,610,252 8, 129,621 5,562,519 ,59,893 N-ET INCOME-ALL CLA55I RAILWAYS

26. Total current assets (ites 14 to 25) to ) .... 1,357,937,359 1,192,959,558 4,405,714,6 950,133,957 MILLIONS OF DOLLARS

27. Funded debt maturing within 6 months 5/ ............ $ ,812,797 *169,444,482 *-.50,250,255 *129,576,199 GO
28. Loans and bills payable ..................... 156,676,790 3,869,263 336,052 76,9,9 40
29. Traffic and ar-servioe alanes payable ........... 85,880,124 83,28 4,0 60,332,280 58,691, 03
30. Audited accounts and wages payable ................ 228,099,1 28,870,49 172,487,56 1 ,093,796
31. Miscellaneous accounts payable ...................... 69,3 ,125 67,329,098 5,11,775 53,557,227 eOA
32. Interest matured unpaid ............................ 40,74,360 86 36,115,500 35 6,629
3:. Dividends matured unpaid ........................... 13,069,197 10,982,927 12,72,271 0,6,030 01 V1l
3- Unmatured dividends declared ....................... 2, 85 1,338,920 2,46,85 1,338,920
3: Unmaturedinterest aoorued ...... ..................... 80,5608 80,153,588 57,59,20 85,0216
SUnmtured rents accrued ............. ............. 6 25 2419,200 19, 767 l0r ,585 -
37. Other current abilities ............................ o,40 10: 26 a2Z
38. Total current liabilities (Items 28 to 37) .... 739,768,025 7614,323,300 1 475,371,603 500,630,314 -40 V
39. Tax liability (Aooount 771): -GO
39-01. U.S. Government taxes ............ ... 96,462,866 ,196,77 85,91i,o41 61,271,575 JMAMJJASONOJF AMJJASONDJFMAMJJASON
39-02. ,Other than U. S. Government taxes ........ 159,022;171 168,501,385 109,726,541 118,774,812 938 199 19O
~/ Reresets acruas, i5ludng1te8amunt3n9deaul0


Represents aooruals, including the amount In default.
For all Class I Steam Railways the net income was as follows:
Period 1940 1939 Inorea
3 months ended September 30 $70,631,686 $58,269,145 $12,362,
months ended September 30 71,201,666 11,065,347 60,136,:
12 months ended September 30 184,991,560 22,466,937 162,524,i

3/ For railways in receivership and trusteeship the ratio was as follows:
September 1940 .94; September 1939 .95; 9 months 1940 .49; 9 months
1939 .34.


/ 1939 figures for certain liability items have been revised, for comparative purposes, to con-
form with changes prescribed in the Uniform System of Accounts by Commission's order of
December 6, 1939, effective January 1, 1940.
5/ Includes payments of principal of long-term debt (other than long-term debt in default) which
will become due within six months after close of month of report.
6 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.
d Deficit or other reverse items. U.s..OV.,..NT ,I.TI,.OFFI..4--O24.













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

1940 1939 1940 1939

Alton R.R........................................ $1.625.517 d $970.306 d $1.430.296 d $777.523
Atchison, Topeka & Santa Fe Ry. System a/ ........ 4,913,13 3,251,199 21
Atlantic Coast Line R. R. ........................d 701509 221 35,906 733,693
Baltimore & Ohio R. R. ........................... 1, 10,380 6,53,609 1,019,105
Boston & Maine R. R. ..........................7 786,863 d 941,g7,5 1,059,840
Central of Georgia Ry** ........................... 1 356 d 2.111,712 .47,45 d1 3222
Central R. R. of New Jersey*. ..................... d 26136301 d 1 24
Chesapeake & Ohio Ry............................. 25,3 7029 16 ,44 51 3 66549 9
Chicago & Eastern Illinois Ry* ................... d 1.215,818 d 105610 d 761667 d 52599
Chicago & North Western Ry*. ..................... d 5.952.693 d 9.50670 d 2,241,291
Chicago, Burlington & Quinc R. R. ............... 266,84 d 123114,23,53 378
Chicago Great Western R. R. ...................... d 585.,84 350d 16:1 5,612
Chicago, Milwaukee, St. Paul & Pacific R. R.**..... d 9.386.606 d 14. 68 d 4.915..64 9835791
Chicago, Rock Island & Pacific Ry**............... d 5,833,064 d 38412366 4
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... d 1,853.315 d 2168,335 d 1.428365 d 1,733,722
Delaware & Hudson R. R. .......................... 1,261,872 909,979 2,068,039 1,668340
Delaware, Lackawanna & Western R. R. ............. d 837181 d 1.291.534 1,006,63 535, 18
Denver & Rio Grande Western R. R!*................ d 3.570 4d 4,206 04 d 2,638,60 d 3.300,664
Elgin, Joliet & Eastern Ry. ....................... 219808 917,42 2,964810 1,631,470
Erie R. R. (including Chicago & Erie R. R.)*tt..... d 1.ll767 3.037.049 1,620,556 d 280,819
Grand Trunk Western R. R. ....................... d 495 2 391194 d 1657967
Great Northern Ry. ............................... 6,9451,124 -,64 0 9,233,212 4,529,296
Illinois Central R. R. ........................... d 2 088 220 d 95772 2,692,261 3,951971
Lehigh-Valley R. R ..............................4 882 634 1,079,642 703,176
Long Island R. R. ................................ 1.103.664 d 7,961 d 220,873
Louisville & Nashville R. R. ..................... 5,966,942 3,849,229 9,230,419 7,101,026
Minneapolis, St. Paul & Sault Ste. Marie Ry.l..... d 3.170.226 93662 d 2,;,541 d 3.579260
Missouri-Kansas-Texas Lines ...................... d 2 488 822 d 2731. d 1 603 675 d 1 742 537
Missouri Pacific R. R.**.............. ............ d 11
New York Central R. R. b/ ........................ 2
New York, Chicago & St. Louis R. R. ............... 1,460000 588, 09 2,61,8 1,761583
New York, New Haven & Hartford R. R............ d 188 d 12 d 151
Norfolk & Western Ry. ............................. 244I 18 29
Northern Pacific Ry. .............................. d 12924 452728 1,248,797 d 1.992 58Z
Pennsylvania R. R. ................................ 22,:18,391 1740,7'54 43,160,271 34,709,973
Pere Marquette Ry. ...............................530,255 69665 2,230,579 1,071 136
Pittsburgh & Lake Erie R. R. ...................... 3,51857 -1,46 4 5 14 581 314568
Reading Co. ...................................... 4,061 262 2:57 494 44,912 4 91 9 5
St. Louis-San Francisco Ry.*..................... 6,900186 d 76596 d41623535096
St. Louis, San Francisco & Texas Ry ............. d 212,30 d 150.670 d 212,251 d 150,046
St. Louis Southwestern Lines* .................... d 571.174 d 1.979.814 d 93.512 d 1.515.611
Seaboard Air Line Ry.* ............................ d 483355 d 5.177.24 d884
Southern Ry ............................ ........... 119 5 121026
Southern Pacific Transportation System c/ ........ 58,95 1,724,389 6,001,422 7,608,78
Texas & Pacific Ry......................... ....... 6,234 219,593 1,610,390 1,121,354
Union Pacific R. R. (including leased lines) ..... 8,43,989 9,487,884 14,200,988 15,037,171
Wabash Ry.*................................. ... d 3.136,821 d 4.108,451 d 1.515,212 d 2.496.35
Yazoo & Mississippi Valley R. R. ................. d 2.16 d 36100 d 53.797 6,295


*4


I>sl0o


* Report of receiver or receivers.
** Report of trustee or trustees.
** Under trusteeship, Erie R.R. only.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R.R.
f 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. Opera-
tions for 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in above statement, resulted in a net deficit of $204,519 for
the month and $3,817,931 for the period. These results include $213,760 for the month and $1,910,797 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 1940 income results for the System reported above. The combined
results for 1940 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated
Companies excludingg S.P.R.R. Co. of Mexico) amounted to a net income of $2,395,538 for the month and a net
deficit of $1,848,179 for the period. Figures herein given exclude results of S.P.R.R. Co. of Mexico for the
reason that policy was adopted January 1, 1940 of making no further advances to that company, it being required to
conduct its operations entirely within its own resources."
d Deficit.


0. g. SevuW urgTIES ema





J7 C 3f 9 4 0 i


it;- 1


UNIVERSITY OF FLORIDA

lll 11111 81 11 I I I Il I II Il II l
3 1262 08851 1562

INTERSTATE COMMERCE" COMMISSION
S U OF STATISTICS

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

Compiled Irom 131 (rcrts (Form lBS) repr-ntimg 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


All Class I Railways Class I railways not In
All s Railways Receivership or Trusteeship
Income Items For the month of Ootober For the ten months of For the month of October For the ten months of

1940 1939 1940 1939 1940 1939 1940 1939
1. tet railway operating Income ....................... t86.9884. $101,7 ,354 527,102 4 457,3159 67,809,644 82,625,19 449, 766,460 400,747,867
their inome ........................................ 11 7539 11,7877 116,102 476 111 8 0 681,709 9,952 82 14 913 63o 100,551331
3. Total income .................................. 98,7415 112,76231 643, 568 7 78,91353 92,578,021 554,68 090 501,29998
4. Miscellaneous deduotlons from income ............. 1,997,620 101,662 20,751,852 19,342,972 1,636,335 1,635,764 17,805,114 16,605,557
Fixednom available for fixed charges ............ 96,7 ,924 110,862,569 622,52 8 5 ,325 76855 8 9092,257 536,87976 44,693,6
a coharges:
6-01. Rent for leased roads and equipment ....... 14,14741 13,5,921 118,88886 17 12 1 116 12 ,7108 10 O8 10 4t
6-02. Interest deductions 3.................... 37, 18 5 382, 4269 39 2 66324 5 243,712,5 246,7
............... 37,3,509,2J,5 3 266,9;9 9 Io 66,2 3-1
6 Other dedution ...................118133,10 1,252,10 327,298 8700 927 989,108
6- Total fixed charges ........ .......... 0 5 ,3 501,89,965 54,928,37, ,780 7, ,78256,22269
7. Income after fixed charges ..................... ,61 8 5 120,854 96 38 5 382109 2222, 869
8. Contingent charges ................................. 1,o980 1 868 19630 19 072 1 8 01 6 2006 869 99,252
9. Net income 2/ ................................. 42,53,00 56 71,375 00932 95824 3840 4 52:636724 171085,193 116, 7 ,520
10. Depreciation (Way and structures and Equipment) .... 17,36,67 16,949,021 171,172,140 168,432.551 163,64,48 13290,655 134,219,662 131 997,130
11. Federal income taxes ................................. 850,069 5,88so,06 52,057,768 25,812,353 8,3,10o 5,830,530 1,609,971 25,556,422
12. Dividend appropriations
12-01. On common stock ........................56,656 1,496,62 456,39,97 3 9 ,96,656,9,97
12-02. On preferred stock ....................... 764,781 1,009,781 15,492 51 6 1,9:, 5786 8 15,;,151 ::
Ratio of income to fixed charges / (Item 5 + 6-04). 1.86 2.12 1.24 1.09 2.06 2.45 1.52 1.36


Selected Asset and Liability Items /


13, Investments in stocks, bonds, etc. other than those
of affiliated companies (Total, Aoount 707) .....
14. dash ...........................m.............. ....
15. Demand loans and deposits .........................
Time drafts and deposits ..........................
17. Special deposits ...................................
18. Loans and bills receivable .........................
119. Traffic and oar-service balances receivable ........
20. Net balance receivable from agents and conductors ..
21. Miscellaneous accounts receivable ..................
22. Materials and supplies.............................
23 Interest and dividends receivable ................
24. Bents receivable....................................
25.; Other current assets..............................
26. Total current assets (items 14 to 25) .........


All Class I Railways


Balance at end of October


1 4


1939


Class I railways not In
Receivership or Trusteeship


Balance at end of October


1940


t I _ -


-580,714,789 $6.6253.39


625,989,262
41,492,770
27,399,931
119,095,213
2,820,206
71.326 61
56,187,754
135:,603676


8 279,825


$500.961. 33


S 546.616.~12
I C ~ I -


24,952,796
75,38,70
5.7,l66,442


2 8 4
73 9o4,52
12,60 75
303,:7e,322
19,499,236
1, 28,616
8 ,564,237


1,303,821,605


27. Funded debt maturing within 6 months 5/ ............ 65,756,766 161,065,189
28. Loans and bills payable 6 ........................ 159,324,942 20343#,127
29. Trafflo and oar-service balances payable .......... 90,962,588 93, 810
30. Audited accounts and wages payable ................. 238,89,04 24, 38
31. Miscellaneous accounts payable ...................... 556 5 64665
32. Interest matured unpaid ............................ 27 ,285 27 892,097
33. Dividends matured unpaid ........................... 1 ,69 188928
34. Unmatured dividends declared ...................... 2,3 60 1 ,4590
5. Unmatured interest accrued......................... 83,2 411 82 64
6. Unmatured rents accrued ............................ 2 916 28 579
37. Other current liabilities .......................... 6B6742,016 33:009,379
38. Total current liabilities (items 28 to 37) .... 763,237,577 781,336,870
39. Tax liability (Account 771):
39-01. U. S. government taxes ................. 114,179,156 83,3 394
39-02. Other than U. S. Government taxes ........ 154,573,138 59647,4

/ Represents accruals, including the amount in default. 2y
For all Class I Steam Railways the net income was as follows:

Period 1940 1939 Increase
Months ended October 31 $96,423,437 $108,212,713 d 117892
months ended October 1 12279692 9539,97 976
12 months ended October 31 100,615 5505,939 45609,02


481,468 02

99,661,725
2,427,307



889,'3
60,7,390


18,
60,o0o


1,136,493,964


468,405,406
20,90o:
27, 9
2,364,076
62,071,150
46,009,502
95, 231,221
232,099,081
16 8
7,014,581


1,036,849,o41


ANALYSIS OF MET INOOME ALL CLASS I RAILWAYS y


Period


Railways reporting
a Net Income
Number
of Amount
reports


Railways reporting
a Net Deficit


Number
of
reports


October 1940 98 45 ,50 30 *2,5763
October 1,939 7 59 6679. 2 688
to10 months 1940 6 931 639
10 months 1939 6 l83030 64 123,348,481

NET INCOME-ALL CLAS5I RAILWAYS
MILLIONS OF DOLLARS


Amount


Pei


102,823477 7,1 22 JPMAMJJASONDJFMAMJJASONDJFMAMJJASONO
104:,82,564 11,13,112 1938 1939 1940

For railways in recoivership.*knd trusteeship the ratio was as follows:
October 1940 1.34;. October 1939 1.32; 10 months 1940 .58; 10 months 1939 .44.
1939 figures for certain liability items have been revised, for comparative purposes, to con-
orm with changes prescribed in the Uniform System of Accounts by Commission's order of
ecemsber 6, 1939, effective Januaiy 1 1940.
Included payments of principal of long-term debt (other than long-term debt in default) which
will become due within six months after lose of month of report.
Includes obligations which mature not more than 2 years after date of issue.
K~cludes reports of 3 roads whose net income (or deficit) was absorbed by the controlling
company.
Deficit or other reverse items. us OVEi..'NT RI|.T. orICc r40o-.-24s540


Statement No. M-1
OCTOBER. 1940


Subject to revision


?I


-r


I E


I


. .-I--- i -.I--,-,. i


$546.616.12I













INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net income after depreciation Net income before depreciation

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

1940 1939 1940 1939


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 R ..................... ....
Chicago & Eastern Illinois **..................
Chicago & North Western Ry. .....................
Chicago, Burlington & QuincyR. 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 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, San Francisco & Texas y. .............
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. .................


1,233,692
1,7 1,955



2,13,955


d 465.901

DAD_
d TWfr??

d-l71alOl


2,116, 429
d 3128.814
2b,849,6b6
d 61-.:47
26,550,797
$10,880
973,005
S71'2,9 95
d 6528.495
d 241, 590


3 0:
1 539 #6
11,367239
11,379,239
8d '75 b4


d 904.,683
5,745,789

31,3390
2,206,905
A 429'714
Hv w 3


d 2.628.517
974,100


5,432,797
d 4,666.981



1,608,371

d 3. 671
21,284,550


d 9.464.260
423, 438
550,120
11,954,620
d 3.61. 086
-d ab3 Irg


d 61.402.449
17, 646,899
1,150,407
8,320,9009





6,547,689
88;565



2, 96,376
1,652, 73
d 22 4


518,000
11,571,536
1q836.529
107, 26b

10,54,64049



3, 39, 73

2,196, 95
49,159,126


d 163b5l,
2, 697,35
7,251, y0
d 4,290,15
I42,187

a 3a122

2,050,0o6
17,787,155
e107*2


d 690o.423
15,602,o44
3,77,964
1,58,542


6,085,859
263,481


2,3223



21 2
1,257,132
6 1.656.168
:418,000


9,045,846



2,911,6
d 660^.04
Z7,9672,,893
d 85i.42 6

1,818,939
3,977,379
6,178, o39

d leg,
d 1,352,52g
d 3,66

1,552,547
18,145,405


Report of receiver or receivers.
** Report of trustee or trustees.
*** Under trusteeship, Erie R.R. only.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central R.R.
Includes Southern Pacific Company, Tdakt & 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. Opera-
tions for 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in above statement, resulted in a net deficit of $333,778 for
the month and $4,151,709 for the period. These results include $213,983 for the month and $2,124,780 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 1940 income results for the System reported above. The combined
results for 1940 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated
Companies (excluding S. P. R. R. Co. of Mexico) amounted to a net income of $3,467,929 for the month and
$1,619,750 for the period. Figures herein given exclude results of S. P. R. R. Co. of Mexico for the reason
that policy was adopted January 1, 1940 of making no further advances to that company, it being required to con-
duct its operations entirely within its own resources.,
d Deficit.





I t III


Subject to rridson


UNIVERSITY OF FLORIDA

3 1 0 1 5 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1570 BUREAU OF STATISTICS


Statement No. M-12
NOVEMBER, 1940


UNIV. OF FL LIB.





U.S. DEPOslTORY


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

Complied from 131 reports (Form IBS) reprsenting 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
Class I railways not in
All Class I Railways Receivership or Trusteeship
Income items For the month of November For the eleven months of For the month of November For the eleven months of
19440 199 1940 1939 1940193 1940 1939
1. set railway operating income ....................... $71,327,820 $70,414,612 $601,39,365 $527,847,772 $59,426,554 *5,956,828 $511,802,414 $460,704,696
2. Other income ...................................... 15,006907 17,078;555 135,276,47 28,89,693 14,133,307 1,069,324 123.213,603 116,620655
3. Total income .................................. 8S334,727 87,493,167 73,315,412 656,337,465 73,559,861 76,026,152 635,016,017 577,325,351
4. Miscellaneous deductions from income ................ 2,046,345 2,037,883 22,798,197 21,380,854 1,735,293 1,771,291 19,540,407 18,376,48
5. Income available for fixed charges............ 84,288,382 85,5,284 713,517,215 634956,611 71,82,568, 74,25;861 615,75,610 558,948,503
6. Fixed charges:
6-01. Rent for leased roads and equipment ....... 13,329,501 11,319,210 131,718,386 129,13,341 12,487,81 11,145,786 121,630,464 119,640,681
6-02. Interest deductions / ................... 38,073282 38,982,367 420,321,553 424,589 368 24,188,673 25,036,282 267,901,197 271,775,149
6-03. Other dedutions .............................. 124,421 131,664 1,377,231 1,8,61 88,4 98,245 1,015,797 1,087,352
6-. Total fixed charges.................. 51,527204 50,433,21 53,417,170 555,3,670 36,76,54 36,2 3 39,57,392
7. Income after fixed charges .................... 32,761,178 35 022,043 160,oo,o45 79,594,41 35,o60,24 37,974,548 224,928,152 166,44,321
8. Contingent charges ................................ 1,951,841 1,961,169 21,582,530 21,578,241 1,189 9 1,198,87 13,196,328 13,192,039
9. Net income ............................. 30,809,337 33,060,87 1 8,517,515 58,016,700 33,870,565 6,775,761 211,731,824 153,253,282
10. Depreciation (Way and structures and equipment) .... 17,147,636 16,728,761 188,319,776 185,161,317 13,443,504 13,077,473 147,663,166 145,074,604
11. Federal income taxes .................... ........... 5,433,797 4,297,926 54,888,956 30,110,279 5,307,536 4,28,393 54,314,897 29,804,815
12. Dividend appropriations:
12-01. On oommon took .......................... 28,829,255 34,378,258 96,642,358 87,684,161 28,829,255 34,378,258 96,642,358 87,684,161
12-02. On preferred stook ...................... 6,909,890 4,097,839 22,102,041 18,511,703 6,909,890 4,097,839 22,402,41 18,514,703
Ratio of income to fixed charges j/ (item 5 + 6-04). 1.64 1.69 i 1.29 1.14 1.95 2.05 1.58 1.42
Class I railways not in
All Class I Railways Receivership or Trusteeship
Selected asset and liability items 4/ Balanoe at end of November Balance at end of November ANALYSIS OF NET INCOME ALL CLASS I RAILWAYS Z/
1940 1939 194d0 1939
13. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, account 707) ..... $570,388,166 $625,554,518 1490,614,403 $543,542,275 Railways reporting Railways reporting
14. ash ............................. ............ 677,214,482 602,439,561 525,16,731 489,713,603 a net Income a net deficit
15. Demand loan and deposits .......................... 43,907,270 27,957,796 39,40,41 23,905,067 Period Number Number
16. Time draft and deposits ........................... 27,300,887 29,875,826 2,889,348 27,358,259 of Amont of Amount
17. Special deposits ................................... 94,171,009 77,575,197 74,802,921 62,779,648 reportsreports
18. Loans and bills receivable ......................... 3,422,256 2873,016 2,891,211 2,553,460 6 262
19. Traffic and oar-service balances receivable ........ 67,559,29 68819,939 57,007,811 56.925,506 November 1940 85 37,072,229 3 6
20. Net balance receivable from agents and conductors .. 53,050,459 54004,103 39,903,731 42,132800 November 199 79 39,7,20 656
21. Miscellaneous aooounts receivable ................. 135,207,530 125,591,211 10,676,033 95,650,155 11 months 19 1 2,28 ,7 5 96,76
22. Materials and supplies ............................. 329,708,802 310,732,250 255,917,938 238,10,685 11 month 1939 8 1,293, 5999
23. Interest and dividends receivable .................. 30,109,72 28,811,933 27,173,618 25,994,972
24.Rents receivable .................................. 11,47,158 1,035,374 919,408
25. Other current assets ............................... 8,493,513 8,354,839 6,17,265 6,993,081 NET INCOME-ALL CLA5SI RAILWAYS
26. Total current assets (items 14 to 25) ......... 1,471,655,107 1,338,509,829 1,159,429,022 1,073,029,644 MILLIONS OF DOLLARS

27. Funded debt maturing within 6 months 5/ ............ 93,052,305 188,194.390 65,864,499 139,147,518- -GO-
28. Loans and bills payable ......................... 151,610,202 199,928,755 24,288,188 2,921,549 40 -
29. Traffic and ar-servioe balances payable ........... 87,155,037 88,068,881 62,524,910 63,544,03 /
30. Audited aooounts and wages payable .................. 259,71,0 1 259,76,621 202,294,383 201, 5,94
31. Miscellaneous accounts payable ..................... 6 2,6 61,591,37 50,012,873 48,900,968- -
32. Interest matured unpaid ............................ 26,803,928 23,354,692 22,364,662 19,191,140
33. Dividends matured unpaid ........................... 1,6,47 1,522,027 1,139,132 1,13,.143 -
34. Unmatured dividends declared ....................... 44,989,618 49,1,229 44,989,618 49,15,229 7 ^
32. Unmatured interest aoorued ......................... 92,9,983 94,92,396 67 8895 68,734 /
Unatured rents accrued ............................ 31,05,3 31,353,323 27,17,757 27,65:,225 2 --
37. Other current liabilities ......................... 39,40,6 31,293,32 28,438,982 21,484,242
------40 ---- ------------ --------------
38. total current liabilities (items 28 to 37) .... 797,169,737 840,938,625 531,129,400 574,709,228
39. Tax liability (account 771): -
3 9-01 U.8.Ul overnmenttaxes .................... 5,768766 71698,618 87,794,772 64,780,955 M M3A ON MAMJJASONDJFMAMJ JASOND
39-02. Other than U. S. Government taxes ....... 1,588,144 1 6,381,289 93,087, 8 99,837,861938 1939


d Defioit or other reverse items.
/ Represents aooruals, including the amount in default.
SFor all Class I steam railways the net income was as follows:

Period 1940 1939 Inorease

3 months ended November 30 *111,599,607 131,033,547 14
months ended November 30 15,539,123 146,775, 49 1 9d#~0 1
12 months ended November 30 175,139,766 80,511,810 94,627,-56


3/ For railways in receivership and trusteeship the ratio was as follows:
November 1940 .84; November 1939 .79; 11 onths 1940 .60; 11 months 1939 .47.
_/ 1939 figures for certain liability items have been revised, for comparative purposes, to con-
form with changes prescribed in the Unifobr System of Accounts by Commission's order of
December 6, 1939, effective January 1, 1940.
5/ Includes payments of principal of long-term debt (other than long-term debt in default) which
will become due within six months after close of month of report.
6/ Includes obligations which mature not more than 2 years after date of issue.
Excludes reports of 3,.roads for the month of November 1940 and 1939 and 4 roads for the eleven
months ended with November 1940 and 1939 whose net income (or deficit) was absorbed by the
controlling company. U.S.GVERNMENT PRINTING OFFICEII6--0-24440














INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS


(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

1940 1939 1940 1939

Alton R. R. ...................................... d .1 76g 39.4 6 .497 O 70.688
Atchison, Topeka & Santa Fe Ry. System a/ ........ 9 080,53445 2
Atlantic Coast Line R. R. ........................ 7792 276 4 2,98
Baltimore & Ohio R. R. ........................... 4 5,00d 1. .273 11;493 5,220129
Boston & Maine R. R. ........................... 1,61,973 389,906 3,009,979 1,788,577
Central of Georgia Ry.* ........................... 195716 d 2.448.405 1.176.79 1.668.462
Central R. R. of New Jersey* ...................... d d 2 0 213 1 828o 1.128. 00
Chesapeake & Ohio Ry. ............................ 3 32 6
Chicago & Eastern Illinois Ry. .................. d d0 57878
Chicago & North Western Ry........................ 55 4.03
Chicago, Burlington & Quincy R. R. ............... 3,15,30 2,607,924 8,012,464 7,381,202
Chicago Great Western R. R. ..................... d 1 582. 336,35 09216
Chicago, Milwaukee, St. Paul & Pacific R. R.* ..... 95.8.792.97
Chicago, Rock Island & Pacific Ry.*............... 2
Chicago, St. Paul, Minneapolis & Omaha Ry. ....... 2 78 '
Delaware & Hudson R. R. ......................... 1,587,505 1,691,961 2,586,1 2,616,817
Delaware, Lackawanna & Western R. R. .............. 2.555124 2,041, 6 1,669,999
Denver & Rio Grande Western R. R.* ................ 1992 7 2900.
Elgin, Joliet & Eastern Ry. ....................... 3,03051 3, 519 2,928,291
Erie R. R. (including Chicago & Erie R. R.)...... 112771 d 1,071867 358,119 2,280,231
Grand Trunk Western R. R. ........................ 33324 2 4 748,410 d 1.438.489
Great Northern Ry. ............................... 8., 775 5b731 12,088,305 9,013892
Illinois Central R. R. ........................... d 3 8 1566814 5,333,012 7, 35,694
Lehigh Valley R. R. ............................... .d 285560 1, 886 1,652,519
Long Island R. R. ............................... 1 19,778 d 2288
Louisville & Nashville R. R. ..................... 7,823,582 6,430,764 ,1,94 10,405,141
Minneapolis, St. Paul & Sault Ste. Marie Ry.*..... 0695 d 2.78.796 .883989
Missouri-Kansas-Texas Lines .....................I A 2.76i.I d a 2235 1 6 d 2 94
Missouri Pacific R. R.*..........................
New York Central R. R. b/ ........................ 2908o3
New York, Chicago & St. Louis R. R. ............. 2,598,841 2,115,926 #,059,950 3,550,456
New York, New Haven & Hartford R. R.* .............. 286 224 426 35 98 13570
Norfolk & Western Ry. ............................ 235, 28624 32,554,839
Northern Pacific Ry. ............................. 9.650 d .28.720 2,665 252 d 333.242
Pennsylvania R. R. ................................ 3983,305 26,901,098 64,085,559 51,349,732
Pere Marquette Ry. ............................... 1 012,040 176,7 38791 2,3 807
Pittsburgh & Lake Erie R. R. ..................... 4 413,369 16,45, 4 676
Reading Co. ...................................... 5 395,426 48 7 7 37
St. Louis-San Francisco Ry* ...................... d 7a.26 A 8.217.317 d 4.262.679 5.410.807
St. Louis,San Francisco & Texas By. .............. .565 207.028 d 24 426 206,265
St. Louis Southwestern Lines* .................... d 335557 d 1.898.269 249,943 d 1.330,162
Seaboard Air Line Ry# ............................ d 5.736.513 d .26 d 759456
Southern Ry. ..................................... 72 826,613 7 956 7 02,12
Southern Pacific Transportation System/ ........ 017,652 1,599,992 12188,577
Texas & Pacific Ry .............................. 1,364,091 809,359 2,89101 1,912,315
Union Pacific R. R. (including leased lines) ..... 15,097,539 14,534,799 22,163,365 21,367,4
Wabash Ry.#.................................. 2671.894 d 3.641.707 688.4 1669.904
Yazoo & Mississippi Valley R. R. ................. 470 53

# Report of receiver or receivers.
SReport of trustee or trustees.
Under trusteeship, Erie R.R. only.
S Includes Atohison, Topeka & Santa Fe Ry. Gulf, Colorado A Santa Pe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central R.R.
S 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. -Opera-
tions for 1940 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern Pacific
Railroad Company of Mexico), not included in above statement, resulted in a net deficit of $325,432 for the month
and $4,477,141 for the period. These results include $214,196 for the month and $2,338,976 for the period, repre-
senting 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 1940 income results for the System reported above. The combined results for 1940
for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies (exclud-
ing S. P. R. R. Co. of Mexico) amounted to a net income of $2,586,469 for the month and 14,206,219 for the period.
Figures herein given exclude results of S. P. R. R. Co. of Mexico for the reason that policy was adopted January 1,
1940 of making no further advances to that company, it being required to conduct its operations entirely within its
own resources."
d Deficit.