Selected income and balance-sheet items of class I steam railways in the United States - 1941

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Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1941
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:
1941
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:
AA00000587:00009

Related Items

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

Full Text

Tc &;tc 4:94I'


Subject to reison


UNIVERSITY OF FLORIDA

Mliffllllllillial CE COMMMON
BUREAU- OF STATISTICS

SELECTED INCOME AND BAIlSHEET ItEMS OF CLASS I STEAM RAILWAYS IN TH UNIED STATES

Cdampild from 1328 'port (Fo IBS) representing 137 steam railway
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Statement No. M-125
JANUARY, 1941


RailwaClass Railways Not in
Al- .-Cla ReIRiiyahip or Trusteeship
Inome ts of Jai .r th months of For the sonth of 0Fors f.i --- months of
S -. _._ 19_o _*_ i9-9 192 1943 I 194Q 1941 : 19211 190
1. Net railway operating income...........--.... ... -: 62,357, 240 4 812 $50, 557 6466
2. Other income---...---.. ----.... ------......... ...-- .. -..------------ ....... -952 11 874 ,362 .333
3. Total income ....---------. ------------- 7 93557620---- 61,452919 49408,9149
4. Miscellaneous deductions from income---- ----.....................2,429,769 2,372,998 2,065,146 2,097,774
5. Income available for fixed charges-............--...... 71,79.,585 55,389,692 59,180,773 47,611,175
6. Fixed charges:
6-01. Rent for leased roads and equipment-......_........ 12,257,219 11,l0590 5,805 10,26;, .o
6-02. Interest deductitnsIj -............ ----- 3....2 ... .7,772,,202 328, 2,o L 24 ,82
6-03. Other deductions......................---------- --.... ...... 120,677 8
6-04. Total fixed charges---.....-.. -------......... -, 49,66 62 50 35,592,9 35,075666
7. Income after fixed charges_ ..... 21,687 *7 23,5-7, 12,535,5
8. Contingent charges-- ...------............------ ........ ........ 1 28-------------- ---- 1, 0,6 1,20
9. Net income. ...................... ....... 19,7046. 37 9302 22,367,548 11,332,113
10. Depreciation (Way and structures and Equipnent) 1-.,6. ;56,804 16, 87 615 6i 4,14 13 255,8
11. Federal income taxes--........ --.............................--..............-7.......... 6,78128 1,375 1: ,673,553 ,35 ,382
12. Dividend appropriations:
12-01. On common stock_..-...... ...... ..-..-.... 2,615,981 3,420,879 2,615,981 3 ,879
12-02. On preferred stock......................------... 536.436 1,794,4 11 536,436 1,794,411
Ratio of income to fixed charges/ (Item 5+6-04) ... 1.43 \ 1.66 1.36

All Class I Railways l5~as I Railways Not in
All Class I Railways Receivership or Trusteeship
td ni R eiverhip or Tu p ANALYSIS OF NET INCOME-,ALL CLASS I RAILWAYS/
Selected Asset and Liability Items Balance at end of January Balance at end of January

1941, 19401941 o 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707)--- 559,76.865 $622,533.319 001,317 $541.322,194 Number of ount Number of Amount
14. Cah. .... ... ..-----,------- 650,5602 530,6,040 490, 34 3 421,44,621, reports Amount reports Amo
15. Temporary cash investments...- ------- ... ...... 318,r4 9,89,620 T7,219,257 46,,17,663
16. Special deposits----------....... ........-- ....-- ---.21. 84 101,3,93 ...5043 81,631,o89 January 1941 47 $27,792,375 82 $8,089,716
17. Loans and bills receivable -------------........ ... 1,5,297 1,28.,143 1,24,05 1,065,191
19. Net balance receivable from agents and conductors.... 15,71 4: 86,8 3 38,882
20. Miboellaneous accounts receivable..................................,674 104 ,010,923 99,375,11 47
21. Materials and supplies....----- ------.......................... ...-. 33,116,821 342920,103 27,706,494 265,431,62
22. Interest and dividends receivable.---- --.... 12,471,72 14,393,47 ,100,777 12,195,68 NET INCOME-ALL CLASS I RAILWAYS
23. Rents receivable .- ---.. -....----------......... -... 1,190,677 1, 101,16 8 48,507 606,665
24. Other current assets-...............-...-----...-------...... -------- 5.709.414 4.188151 3.88126 2.872.619 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24).....-----......... 1.401.479.044 1.247.968.373 1.0o7.397.320 992.,141.662 100
26. Funded debt maturing within 6 months 4/............---......... $103,646.212 $. 192.860.225 60.417.005 $150.932,578 8 O
27. Loans and bills payable /--...--..-----.......-- ----- $81,890,1420 *158,701,49 $21,977,.3 *789683,791
28. Traffic and oar-service balances-Cr -----46,318,89 4, 36,702 3, ,15 2 282403 o
29. Audited accounts and wages payable----_--- 233,14,91 231,136,971 1,1 76- 178697,0336
30. Miscellaneous accounts payable.--.-................................32203 40
31. Interest matured unpaid -----_------------- 36, 19,74, 30,7 928 4 6813
32. Dividends matured unpaid...-........----.....-...---------- 4, ,222 4 '
33. Unnatured interest accrued.-- ------- -- 70. 178 61a 4l8,
34. Unmatured dividends declared.--- --- --..............-- 3......... ....-- 3 ,86 6
35. Unmatured rents aoired ..................... .................... .. 0 ..-0
36. Accrued tax liability.-- .------ .................0 ..... 2..........08..91 1-4,
UT. Oth B rrent liabilities...------.---. ---.......--- .... ,------37 _- ,__-_O -_9,093269 01, -,:2
38. 1otal current liabilities (items 27 to 37) --l- 93,755.335 .6t 70 607,736,624 622,872959: -140
39. Analysis of accrued tax liability: "
39-01. U. S. Government taxes...------. -.-- 125,932,486 9rJ',66 113,755,862 80,447,186 JPMAMJJAb0NPJFMAMJJASONDJPMAMtJJASOND
39-02. Other than U. S. Government taxes................ 07,44,9 115,24,154 8o,978,229 87,547,132 1939 1940 1941
-**'- ** **


/Represents accruals, including the amount in default. -
2/For all Class I Stpam Railways the net inoome .was as follows:
Period 194 1940 Increase'
3 months ended January 31 109,822,760 673,5 07 6
6 months ended January 31 06,924,I97 181,799320 24,4
12 months ended J anuary 31 6957572 107,01 33 99 39


i/For railways in receivership and trusteeship the ratio was as follows:
SJanuary 1941 .87; January 190 .53-
4/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.
o/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company. u s. GOVERnuT ,mRINTG OFFICE iz,-o....245


UNIV. OF FL LII.
UCUMENTS DEPT.
ULl


U.S. DEPOSITOMY


I


__ _1 _











INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


Alton R. R. _______________ ...--------------
Atchison, Topeka & Santa Fe Ry. System a/ ---
Atlantic Coast Line R. R. _-.-........--------------
Baltimore & Ohio R. R. ---_.-----------------_
Boston & Maine R. R. ------- -__------------------
Central of Georgia Ry.** _-- -------------------___
Central R. R. of New Jersey**-----..........-.............. ...---
Chesapeake & Ohio Ry. ___.. -------....................................
Chicago & Eastern Illinois R. R ................ ------ .............
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. 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. ------


Net income after depreciation Net income before


For the month of Jal
1941 1


d a80.647
941,24
1,776,350
911,874
263,411
a

159,030
d 685.127
931,451
38,461
d 138.233
d Z2 408
d 128.921
144,730
260,029
d 256.900
U58,104
446,037
33,015
d 105218
200,989
d 227.224
1.186,357
d 632,007
d 2278
d 125,300
2,123,252
594,920
8,337
2,822,746
d 511,16
2,92,894
371,743
398,865
683,313
d 195,685
S-- 13,244
208,156
d 120.946
800,699
1,165,131
211,306
607,603
34,288
32,002


d 415535i

162,760
d 195.600


284,084
d 271818
3,0 ,722
d 667"'612

270,173
303,345
589,204
d 817.93
d 49.686
d 76.617
b,097
d 929,882.

1,112,780
d 252.8
d 88, M


For the month


d 236402

210,519
d 281.500
1,387,360
85,304
67 :421
282,538
d 153,178

240,378
466,232
d 148.928
639%1,
750,944
130,667

370,559
d 97.297
1,563,330
d 525.458
d 129.78

3,632,;45
732,644
285,940
3,372,600
d 226 462

558,609
591,782
936,279
56,551
d 13.244
262,362
80,798
1,096,055
1,829,284
316,809
1,277,835
215,209
75,932


depreciation


of January
1940


4 2g4.728

705,075
101,983
169,060


280,718
413,391
d 146.0
238,206
53,434

340,099
d 98.336
1,080,086
4 483.421
d 221 34
A& 416. 3
2,345,;
417,048
56,713
35,511,689
A 388.145
4,694,596
461,51
9148
848,451
d 45,799
d 24.307
d 44 61
300,134
d 266.612
129 169
1,737,918
d 80.237
d 51 224


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 interest on funded securities and rentals for leased properties
between companies included therein. Operations for January 1941 of separately operated Solely Con-
trolled Affiliated Companies (excluding results for Southern Pacific Railroad Company of Mexico),
not included in above statement, resulted in a net loss of $337,836. These results include $215,805
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 January 1941 income results for the System
reported above. The combined results for January 1941 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 $1,043,100. Figures herein given exclude results of Southern Pacific
Railroad Company 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.'
Deficit.


*
**
**Q*
a/
b/
c/


I





3: e I AXZ 34 ', q4 1


UNIVERSITY OF FLORIDA

3I II 262 I l illllli IIIIIll I 1111 1111 1111Ill
3 1262 08851 1604


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
FEBRUARY 1941


UNIV. OF FL LIB.





U.S. DEPOiTOAY
U.S. DEPO ETO)RY


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)

All Class I Railways Class I Railways Not in
Receivership or Trusteeship
Income Items For the month of February For the two months of For the month of February For the two months of

1941 1940 1941 1940 1941 1940 1941 1940
1. Net railway operating income ------ .......- 58,478,876 $32,856,46 $120,836,279 78,86,297 $47,135,278 $29,170,122 $97,701,245 $68,105,010
2. Other income --.. ------------------- 10,077,730 10,184,902 21,939,682 21,93 ,781 9,173,920 9,330,831 20,047,570 20,185,196
3. Total income -- .. ....---------- ------- 68,556,606 43,041,388 142,775,961 100,80 4,07 56,309,198 38,500,953 117,748,815 88,29o,2o6
4. Miscellaneous deductions from income-----... ------------... 2,229,446 2,286,382 4,659,212 4,659,381 1,902,032 2,016,847 3,971,406 4,115,603
5. Income available for fixed charges----......------------ 66,327,160 40,755,006 138,116,76 96,14,697 54,407,156 36,484,106 113,777,409 84,174,603
6. Fixed charges:
6-01. Rent for leased roads and equipment--..- 12,032,520 10,515,640 24,289,741 21,561,530 11,220,341 9774,764 22,672,207 20,56,471
6-02. Interest deductionsl/.----- ------.----- 37,223,261 38,236,997 74,947,62 76,686,7 2 24,118,850 4,734,525 48,322,949,581,687
6-03. Other deductions -------.---- 117,706 131,231 238,383 262903 85,527 99,120 13,970 198,602
6-04. Total fixed charges ---------- 4,373,87 48,83,8 99,475,5 98,510 35 42418 34,608,409 71, 8506 6836,760
7. Income after fixed charges---.......--------...16,953,73 8.12862 i 38,641,160 d 2.65.783 18,982,8 1,875697 4260803 14,33843
8. Contingent charges ---------- 1- ,989,668 1 965-- 3,972 496 3 931,556 1 227 287 1,203,397 2 447 733 206,793
9. Net income/ --------------------- 14,964:005 a 094640 34,568,664 a 6.297.339 17,755:161 672,300 40,161170 11,931,05
10. Depreciation (Way and structures and Equipment)--,638,334 16,827,666 35,295,147 33,699,280 14,00,282 13,250,161 28 ,040275 26,552,409
11. Federal income taxes--------. ---------- 6,442,547 2,569,074 13,200,675 5,944,537 6,324,752 2,549,283 13,038,305 5:901,665
12. Dividend appropriations:
12-01. On common stock--...........------------ 12,891,829 1,464,076 15,507,810 16,884,955 12,891,829 13,464,076 15,507,810 16,884,955
12-02. On preferred stock----------- 2:583,411 2:631:224 3,119,847 4,425,635 2,583,411 2,631,224 3,119,847 4,425,635
Ratio of income to fixed charges / (Item 5+6-04)- 1.34 .83 1.39 .98 1.54 1.05 1.60 1.21

sAll CasIRClass I Railways Not in
All Class I Railways Receivership or Trusteeship
ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS/
Selected Asset and Liability Items Balanbe at end of February Balance at end of February
1941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) (560.032.172 $623,464.761 480.500732 $542.279.160 Number of Am t Number of mo
reports Amount reAmount
14. Cash .......... ------.... -- ------ 674,630,090 (526,618,698 $509,404,763 $1716,692 reports reports
15. Temporary cash investments --.............. 71,888,388 47,613,124 65,O79,1 43958, 167
16. Special deposits--- receiv.... ...................- 156,4o9,126 98,0~9,181 1,1 304 8 736,983 February 194l 78 $24,136,306 51 $9,172,301
17. Loans and bills receivable ---- ------------------ 1,592,250 1,245,224 1255,774 1:023:858 February 1940 58 11,1055,19 71 21,200,259
18. Traffic and car-service balances--Dr. --28,896,619 26,68,358 27,02903 24256812 2 months 1941 81 51,620,669 48 16,952,005
19. Net balance receivable from agents and conductors-- 56,620,166 45,016,157 4 3131,512 34,346Z 19 2 months 1940 61 27,827,570 68 34,124,909
20. Miscellaneous accounts receivable ...--...... 331,336 122,5060 10 4306,524 957 0 11
21. Materials and supplies --------- 356,48,5 357,054,175 278,0756-24 277394:479
22. Interest and dividends receivable -- ----. -----------.15,83,004 17,062,788 13,292,92 1430,502 NET INCOME- ALL CLASS I RAILWAY5
23. Rents receivable...--.... ........-------.... -----.... 1,12,326 1,053,916 977,675 709,277
24. Other current assets............................------ 5.522.191 4,74,925 3,499,44 2P80 494 MI LLIONS OF DOLLARS
25. Total current assets (items 14 to 24) ----- 1.504.535.010 1.247,790.973 i.184.248.901 994.4o6.094 100
26. Funded debt maturing within 6 months/ -$1- 137.349.614 ( 193.543.362 $103.667.256 (49.086.856 80
27. Loans and bills payable5/8--------- -------- 1,469,014 15,528,510 $21,614,058 $78,015,741 G 0
28. Traffic and car-service balances--Cr ... 47,270,923 92 174,715 32,970,73 28,71396
29. Audited accounts and wages payable ......- -- 257,228,97 2 75 3 203,621,266 190,484,097
30. Miscellaneous accounts payable.-..... ---.. 52,182,376 59.8,967 4,581,057 8 186898 40
31. Interest matured unpaid- 3....8,71671 226....352 33 55 096 18,179,99 8 9 5 2
32. Dividends matured unpaid--- --------- 1,.~~.-.....62 1 4:1 .... 1:71 2177:4, 1,209,65 O 20 I
34. Unmatured dividends declared... .......... .. 16,468, 15 008 16:683 15,40 08
35. Unmatured rents accrued .----- ---..---------------- 23,605,27 2 4,069,: 2 20,7599 21,109,000 0 -- --
36. Accrued tax liability... ----- 212,458,239 189,751,543 1782 94,856 154 404 862 /
37. Other current liabilities-.............----------------........ 50.657.41 29.987.68 39Q719.26 1,q746 _20- -Z
38. Total current liabilities (items 27 to 37) ..--... 869.031.951 874,3s50.249 6666.57.9q4 642.512.876 -40
39. Analysis of accrued tax liability: ---
39-01. U. S. Government taxes ...... ----- -----.105,568,049 73,43.0,540 98,000,169 65,848,541 JFMAMJJA ON J FMAMJJA50NDJFMAMJJA5SOND
39-02. Other than U. S. Government taxes- ---106,890,900 116,321,003 80,494,687 88,556,321 1939 1940 1941


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase
3 months ended with February $85,747,085 $30,41,090 $55,315,995
6 months ended with February 198,800,971 161,44,637 37,336,334
12 months ended with February 232,016,218 121,026,935 110,989,283


V/For railways in receivership and trusteeship the ratio was as follows:
February 1941 .85; February 1940 .30; 2 months 1941 .86; 2 months 1940 .42.
; 4/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.
5/Includes obligations which mature not more than 2 years after date of issue.
6/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.
d Deficit or other reverse items.


Subject to revision








INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


Alton R. R. --......___-....--....-.....--- ......----...........
Atchison, Topeka & Santa Fe Ry. System a/--------
Atlantic Coast Line R. R.-- -------
Baltimore & Ohio R. R..........---- .....----------
Boston & Maine R. R ......... ............------------
Central of Georgia Ry.**- .....----------------
Central R. R. of New Jersey** --- .......
Chesapeake & Ohio Ry.......------.------------------
Chicago & Eastern Illinois R. R. --- -....---.........
Chicago & North Western Ry.**-.--------------------
Chicago, Burlington & Quincy R. R.-- ...
Chicago Great, Western Ry............ ..----------
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 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.- -- ----


Net income after depreciation Net income before


depreciation


For the two months of For the two months of
1941 1940 1941 1940


a $165.,635
1,7906306
2,:?6,264
1,442,390
663,731
d 144.877
d 447,112
4,397,823
236,701
d 1.390,437
1,723,69
62,482
a 367,516
d 346,731
d 414,759
302,920
16,382
d 801.739
1,045,332
82'4,85
196,142
d 2,152.987
1, 71,875
412,686
d 380,483
2,344,009
d 1.227,612
d 431 ,67i
d 362,307
3, 24:,5 9w
1,115,284
99,319
5,315,.425
d 1,05M.962
5,260,427
672,936
788,668
1,334,1438
d 541.085
d 25,641l
431,008
225,916
1,870,499
2,2635,46
385,499
468,967
122,353
d 242.578


d 6339.012
d 1,012.0 1
681,938



5,222,881
d 218,515.
d 2.899,946
d 7.263
S .232.970
d 1,814,1
d 1,789.496
d 529,045
169,024
d 19.919
d 822,96
506,p498
d 989,038
d 114,942
d 2,229".O93
93,
d 235-,6i
d 533,07
1,131,298
d 1192686
d 6i52,152
d 1. 83.689
181,442

337,090
d 936.637
5,s23,33
d 1. 80.076
3,767,*79
419,750
549883
713,756
d 1.884.281
d $6,545
a 24.795
d 5,07.oq7
23,761
d 2.267.05*2
12,691

1,070,373
a 658. 48
d 14,440


d $120.44
3,79b,553
2,784,559
2,687,531
900,694
d 2.101
d 226.879
5,15,o26
339.690
d 583.442
2,638,036
156,128
6,3,3441
380,282
d 323.266
494,114
28,804
d 80.6123
1,2.39,70
1,454,682
391,628
d 1.4R42.47
2,787,67
7T7,910
d 120,627
3,090,170
d 1i014,2485
S15388,692
6.446,406
1,390,870
654,551
6,418,5o30
d 486.224
9,826,349
1,050,513
1.177,698
1,840,392
d -8.605
d 25,641

539,404
630,259
2,467,705
3,599,677
596,497

484,123
d 154.265


d *296.06q
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
d 1460,19.2
d d37.83
d 1.108.602
d 434,352

3'3,530
284,280
d 615.437
662,509
11,215
84,518
d 1,617.748
1,148,212
115,323
a 339.127
1,848,270
d 988.190
d 4O.qQ7
d 1.13 .786
2,824,315
601,853
d 387,141
6,2,657
d 1,023,047
S,073,370
802,510
914.561
1,232,655
d 1.377.168
d 6,406
80,172
d 175.750
611,87


2,3334,96
d 299,747
61,022


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 interest on funded securities and rentals for leased properties
between companies included therein. Operations for 1941 of separately operated Solely Controlled
Affiliated Companies (excluding results for SouthernPacifio Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $417,237 for the month and $755,073 for the period.
These results include $217,608 for the month and $433,313 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 1941 income results for the System reported above. The combined
results for 1941 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 $898,704 for
the month and $1,941,804 for the period. Figures herein given exclude results of Southern Pacific
Railroad Company 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".
Deficit.
U S GOE|RMCNT PRtMIIrG "FeCe tM .--241440


*
**

a/
c/











d





T(( 5+e. 3 ; qqL


UNIVERSITY OF FLORIDA

INTERSTATE COMMERCE COMMISSION
3 1262 08851 1380 BUREAU OF STATISTICS

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


UNIV. OF FL LIB.


UL.. -DEO


U.S. DEPOTORY


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


All Class I Railways Class I Railways Not in
Receivership or Trusteeship
Income Items For the month of March ~: For the three months of For the month of March For the three months of

1941 1940 :-1941' 1940 1941 1940 1941 1940

1. Net railway operating income------------ 80,627,168 $37,034,274 $201,503,219 0115,903,571 64,;592,750 (32,647,923 $162,333,766 100oo,752,933
2. Other income ..... -- ........- ------ 10,486,137 11,885,382 32,425,819 33,820,165 9,596,433 9,909,980 29,644,003 30,095,176
3. Total income ------------ 91.113,305 48,919,656 233,929,038 149,723,736 74189,183 42,557,903 191,977,769 130,848,109
4. Miscellaneous deductions from income ---- .3,001,923 2,577,004 8,590,972 8,146,790 2,571,520 2,293,257 7,4l72,759 7,319,263
5. Income available for fixed charges------ 88,111,382 46,342,652 225,338,066 141,576,946 71,617,663 40,264,6 184,505,010 123,52,846
6. Fixed charges:
6-01. Rent for leased roads and equipment ----.... -- 13,126,027 10,568,010 37,415,769 32,129,540 12,264,153 9,837,833 34,936,360 29,894,303
6-02. Interest deductions / -- .------37,604,576 38,368,164 112,55,39 115,054,212 24202,62 24,777,38 72,524,391 7359071
6-03. Other deductions-- 117,687 122,783 356,070 385,687 .,85,663 90,865' 259,633 289,467
6-04. Total fixed charges --....... ---------- 50,848,290 49,058,957 150,323,878 147,569,439 36,551,878 34,706,081 107,720,384 104,542,841
7. Income after fixed charges -- --37,263,092 d 2.716.30 75,014188 d 5.992.93 35,065,785 5,558,565 76,78626 18,986,005
8. Contingent charges ...-..-...........----- --- 2,006,740 5,97,23 597-- 5,897,338 1,24,387 1,203,399 3,'692 120 3,610,192
.9. Net income 2/-.. .......- 35,256,352 a 4.682.07 69,03,952 a 11.889,831 33,821,398 4,355,166 73,092,506 15,375,813
10. Depreciation (Way and structures and Equipment)--..- 17,861,188 17,025,214 53,156,338 50,724,495 14,230,943 13,437,181 42,271,218 39,989,590
11. Federal income taxes .-.-..-----.........------ --------------- 11,261,138 2,815,702 24,515,504 8,759,639 10,653,389 2,796,410 23,745,385 8,697,475
12. Dividend appropriations:
12-01. On common stock -.. --------- 1,727,155 3,278,918 17,234,965 20,163,873 1,727,155 3,278,918 17,234,965 20,163,873
12-02. On preferred stock..... ------- 1,324,448 75,000 4,444,295 4,500,635 1,24,448 75,000 4,444,295 4,500,635
.Ratio of income to fixed charges/ (Item 5+6-04).- 1.73 .94 1.50 .96 1.96 1.16 1.71 1.18


Selected Asset and Liability Items


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


All Class I Railways


S Class I Railways Not in
receivership or.Trusteeship


Balance at end of March Balance at end of March


I I


t60o.430o.3os


1940


.-g- I .-


1941


140.902.O.88


1940


t934.474.795


ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS /


Period


Railways Reporting a
Net Income


Number of Amount
reports Amount


Railways Reporting a
Net Deficit


Amount


$5,139,257
17,811,765
20,922,419
51,377,43


-I -- -


Number of
reports


3 t -- 1 *676 1 F ;1 1- .....s 1 4 1 1 5Z.A.. 1-- - -..41


. ." -- -- -- -- .--- - -- - -- - -- - - -- -- - - - - - - - - - -
Temporary cash investments.. --------
Special deposits ...-----------.... .---------.---
Loans and bills receivable-- ...... -----------.
Traffic and car-service balances-Dr......--- ..
Net balance receivable from agents and conductors
Miscellaneous accounts receivable.---------.........
Materials and supplies----------
Interest and dividends receiv4ble---- -- --
Rents receivable-- .---
Other current assets --...... --------------...
nTotal current assets itemss 14 +nto 24)


69,937,442
130,178,007
1,610,450
33,275,676
62,198,086
136,831,892
371,419,378
17,142,196
1,148,572
.2 71.11


i c.n 3o9 nnk


43,332,794
127,124,532
1,537,592
24,397,414
43,710,657
119,708,698
366,362,534
19,720,682
1,268,675
4 A gQQQ


1 OL24 17 Ok94


S62,227,358
105,782,810
1,330,174
3o,756,130
8,31,813
103,771,864
:287,126,311
14,461,9 13
881,629
4.21 .R Q61


1 161 74) 918


39,627,837
109,980,687
1,321,148
22,280,336
33,826,005
92,619, 483
284 29,407
17,264,167
838, 463
2P, 4 495


QQ. O268 238


26. Funded debt maturing within 6 months 4/--.. ........ ...-----96.317.217 18 9.942.O91 i67.720.6 16.737
27. Loans and bills payable 5/.--------------.......... $ 77,982,482 $156,192,621 $121,026,361 $78,562,421
28. Traffic and car-service balances--Cr. ~ -- 49,695,908 39,224,028 34,499,744 26,513,650
29. Audited accounts and wages payable....---- -- 237,312,405 225,545,779 184,036,336 174,929,429
30. Miscellaneous accounts payable ------- 52,587,91 64,514,971 40,930,932 53,072,169
31. Interest matured unpaid--. ------- 56,628,539 40,276,116 51,738,245 35,824,597
32. Dividends matured unpaid--..-.. ------- 14,330,71 12,273,447 13,966,522 11,908,204
33. Unmatured interest accrued --....... --- 78,378923 80,120,547 58,266,146 57,066,136
34. Unmatured dividends declared ------- 1,608,58 1,608,245 1,608,245 1,608,245
35. Unmatured rents accrued ....--.-- ....--- --- 21,513,606 22,382,022 18,715,560 19,388,078
36. Accrued tax liability-- -.-. ........------ 228,778,432 197,881,630 188,531,992 158,958,176
37. Other current liabilities----.-------39.30,315 50.171.701 27.868.531 40.657.342
38. Total current liabilities (items 27 to 37) --.. 858,347,483 9890.191.107 641,178,614 657.588.447


39. Analysis of accrued tax liability:
39-01. U. S. Government taxes...-------....
39-02. Other than U. S. Government taxes_


120,619,363
108,159,069


82,602,9q0
115,278,650


.1.- __________-- - -


109,122,622
79,409,370


72,181,872
85,876,304


March .. 1941
March .. 1940
3 months 1941
3 months 1940


$40,395,609
13,129,678
89,957,371
39,87,60o3


NET INCOME-ALL CLASS I RAILWAY
MI LLION5 OF DOLLARS
100

80
0 -- -------- --

4O

G 0 ------------
40




0


-40

JFMAMJJASONDJFMAMJJA5ONDJFMAMJJASOND
1939 1940 1941


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


3/For railways in receivership and trusteeship the ratio was as follows:
March 1941, 1.15; March 1940, .42; 3 months 1941, .96; 3 months 1940, .42.
4/includes payments of principal of long-term ebt (other than long-term debt in
default) which will become due within six months after close of month of report.
5/Includes obligations which mature not more than 2 years after date of issue.
6/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.
d Deficit or other reverse items.


Subject to revision


Period 1941 1940 Increase
3 months ended with March $69,034,952 d 11.,889.81 $80,924,783
6 months ended with March 201,487,107 114,69,847 86,877,260
12 months ended with March .. 271,974.998 125.675.194 146.299.804


U- cfI,O 1 -R- G I


Statement No. M-125
MARCH, 1941


--i


''


i





:i
Jr









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
__1941 1940 19411 1940


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. R. -----_-------
Chicago & North Western Ry.** ---------------
Chicago, Burlington & Quincy R. R. --------------------
Chicago Great Western Ry.__________---------
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 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 $150.559
309,4
3, 3,547
3, ~ 979
1,169,184
d 55.917
S 621.070
s8, 468, 56
d 1.68518
2,809,665
193,609
385,1:
3966
d 561.506
690,154
7 4,494
d 1.112.460
1;6640892
1,401,904
525,768
3,193.25
da 7. 47
3,836,538
d 1.864.577
d 477.322
d 6600,61

2,034,254
464.3594
8, 9:540-
d 9.,644
7,539,833
995,511
1,237,513
2,252,523
d 618.413
d 24 698
898,962
705,733
3 90o,096
4.50, 418
661,974.
1,825,325
475:491
d 119.375


d $524.757
d 1.555.284
d 2 101.698
d1 218,420
d 786.


d& .633.979


219,940
d 407.014
d 1.494914
650,996
d 921,.818
d 110.990
d 2.880 .15
&20


1,235,927

d .9
.81

d 527g7.b9
451,619
d 1.350,864
7,M,40412
d 1.887.659
4,702t948
425,658
707,634
1,056,196
a 2.888.233
d 134,659
59,699
d 613.840
-276:66


1#418,744


d $81.977
5.342:259
3,941,:314
5,319,077
1,524.507
158,481
d 290.814
O, 6 0, 86
67:,954
a 475.906


976,749
1,363,138
d 7881.179
1.971828
2,320,005
818,884
S1.517.816
10,918,920
1,224,9560
a 771.271
4,95p,ol
d 1.544.997
d 18 .6
52621 S
100918,920
2, 47,392
1,286,506
10,106,355
d 96.256
14.513 09
1,564, 680o
1,834.265
3,011,215
134.333
d 24.698
l,o61,49o
1,314,379
4,293,429
6.459 649
978, 496
3,837,869
1,018,132
13,137


d $460.288
1 38 9639
1, 274, 544
d 310.586
143,921
d 5741.66
d 186.18
9,549,t678
d 199.302
a 3.W\9














2,314,879
1,,544,978














dl
d 214.024
d 4 11



193,289
d 113.509
d 18.068

186,830
77,7770
d 429,033








d 46 288
d 2 617.329
d 1 05 .0
59, ,950
1, 000,870
1:254:618
1,834,728
d 2.127.529
d 133,920
217v777
1,1 55,77
595P783
3,316.052
--J S


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 interest on funded securities and rentals for leased properties
between companies included therein. Operations for 1941 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 loss of $283,689 for the month and $1,038,762 for the period.
These results include #219,132 for the month and $652,545 for the period, representing interest on
bonds of such companies owned by Southern Pacific Company not taken into income by 8.P. Co. and,
therefore, not included in the 1941 income results for the System reported above. The combined
results for 1941 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 $2,122,397 for
the month and $4,064,201 for the period. Figures herein given exclude results of Southern Pacific
Railroad Company 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".
Deficit.
S 5 ovEft'MENf *Rjqttm. OFFICE *flI-O.Z5440


*+
**Y

P1








Subject to revision


UNIV. OF, FL LIB.


UL.. DEP_ .TO.


U.S. DEPO(lTORY


IT cd/ I S-f^q


UNIVERSITY OF FLORIDA

11IIIIIIIIIIIII 11111111111111illll IIII III 11111B 11111
3 126208851 1398 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


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

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

All aC Railways lass I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of April For the four months of For the month of April For the four months of

1941 19 40 1 1941 1940 1941 1940 1941 1940
1. Net railway operating income --- ----------- 52,568,877 $34,120,522 -2,4,072,096 $15 ,o24,092 $40,030,826 $31,356,609 $202,364,592 $132,109,542
2. Other income------- 10,57,659 10,967,,42 42,683,478 4,787,607 9,178,105 9,970,367 38,822,108 40,065,544
3. Total income------ .-------. 62,826,536 45,087,964 296,755,57 194,811,699 49,208,931 41,326,976 241,186,700 172,175,086
4. Miscellaneous deductions from income ..........- ...... 2,810,773 2,301,370 11,401,746 10,448,161 2,402,312 2,029,965 9,875,072 9,349,229
5. Income available for fixed charges 60,015,703 42,786,594 285,353,828 184,363,538 46,806,619 39,297,011 231,311,628 162,825,857
6. Fixed charges:
6-01. Rent for leased roads and equipment-- ..------ 13,036,085 11,280,516 50,451,854 43,410,056 12,073,086 10,564,436 47,009,446 40,458,740
6-02. Interest deductions----------- 37,589,869 38,394,692 190,141,908 153,448,903 24,142,406 24,860,113 96,666,797 99,219.184
6-03. Other deductions ------118,075 133,124 474,145 518,811 86,129 g 101,273 345,762 390,740
6-04. Total fixed charges .......-------------.. 50,744,029 49,808,332 201,067,907 197,37,770 36,301,621 35,525,822 144,022,005 140,068,664
7. Income after fixed charges-- ------ 9,271,734 7.021,7 4,285,921 d 13.014.232 10,504,998 3,771,189 87,289,623 22,757,193
8. Contingent charges --------- 2,008,156 ,968,47 7,987392 7,865,87 1,245,819 1,206,097 4,937,93 4,816,28
9. Net income 2/ .. ----------- 7,263,578 a 8,990,217 76,298,529 a 20,880049 9,259,179 2,565,092 82,351,684 17,940,90
10. Depreciation (Way and structures and Equipment)- 17,874,308 17,039,628 71,030,645 67,764,124 14,241,379 13,439,881 56,512,597 53,429,470
11. Federal income taxes .---------6,310,578 2,993,913 31,114,500 11,753,551 6,128,190 2,974,622 30,161,993 11,672,096
12. Dividend appropriations:
12-01. On common stock. ---------- 60,000 2,438,396 17,294,965 22,602,269 60,000 2,438,396 17,294,965 22,602,269
12-02. On preferred stock -764,781 764,781 5,209,076 5,265,416 764,781 764,781 5,209,076 5,265,416
Ratio of income to fixed charges/ (Item 5-6-04) ...- 1.18 .86 1.42 .93 1.29 1.11 1.61 1.16

All Class I R lass I Railways ss ailwaysNot in
Receivership or Trusteeship
ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS 6/
Selected Asset and Liability Items Balane at end of April Balance at end of AprilRAILWAYS
1941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) 560,796,866 $598,977,896 481300,318 $519154106 Number of Amount Number of$
Numbro Amount Nm ro Amount
14. Cash. ---..... ------- ......... ..... $673,832,122 $481,884,236 ,780,888 $378,207,938 reports reports
15. Temporary cash investments ------------ 71,455,665 50,701,216 ,720,581 46,r426 59 Apr 1941 75 $17 76, 7 54 $,
16. Special deposits- .... ------- ----- -----123,313,9 96,329,268 30,6 76474,58 April.1940 51 11, 36,52 8 4 759
10329. L42 I April 194o 71 6,5 2 20,426
17. Loans and bills receivable--..-- ------ 1,771,422 71,640 ,97,87 1,56,80 4 months 1941 87 ,308867 22,785,33
18. Traffic and car-service balances-Dr. ...----------- 26,910,949 2,304,484 ,11,767 21,340,94 mth 19 8 9,8 2,522 70,362,57
19. Net balance receivable from agents and conductors- 54827,539 4,511,835 4,62,979 35,674,491 onts 5 7170,362,571
20. Miscellaneous accounts receivable..--- 1..5,490,812 120,177,596 110,238,509 93,44,014
21. Materials and supplies.----- ------ 368,807,309 367,618,42 284,143,001 284,803,308
22. Interest and dividends receivable..........---------- 17,875,491 20,614,706 15,155,874 18,151,325 NET INCOME-ALL CLASS I RAILWAY5
23. Rents receivable-- --------- 1,215,552 1,322,626 881,235 8o6,295
24. Other current assets .-- 6931.675 4,760.010 ,4676695 2.968,048 MILLION5 OF DOLLARS
25. Total current assets (items 14 to 24) 1,492,432.476 1.215.006.059 1.136.006.009 959,839.010 1 00
26. Funded debt maturing "within 6 months 4/ .....- $------- (95.583.395 $257.915.296 $66.441,259 $232,161.512 8 80
27. Loans and bills payableS /-- .---------- .$77,455,048 $136,733,995 21,513,296 $59,116,823 ,
28. Traffic and car-service balances--Cr. -,804,220 3,553,23 3,842,460 25,426,250
29. Audited accounts and wages payable...------ 236,727,858 226,431,162 18.,303,20 172,890, 91
30. Miscellaneous accounts payable ..... 9,076,004 58,17,308 3 845,094 46,964,62 40 -
31. Interest matured unpaid-- ......------ 3#,424,149 26,400,16 ,20,489 20,753,443
32. Dividends matured unpaid... -----.. 1,709,819 1,835,556 .,3 ,706 1,471,280 O
33. Unmatured interest accrued------------ --- 0,751,773 82,508,820 ,008 62,206,122
34. Unmatured dividends declared 1 ,-77,258 2,213,011 1,77,258 2,213,011
35. Unmatured rents accrued---..-.. ---- ---- 26,580,718 27,257,408 23,36785 23,821,981 0 --
36. Accrued tax liability ----... ...... 249,66,917 208,502,865 2Q4,8,49 166,868,132
37. Other current liabilities ------------ .. 6460,730 30,245,49 5276. 93 20,974,670 _20
38. Total current liabilities (items 27 to 37)------ 840,734,494 838,299,070 64o010,758 602,707,065 -40
39. Analysis of accrued tax liability:
39-01. U. S. Government taxes b4i.......i ,1309,1,46 93,455, 8 126,212,566 82,008,197 JFMAMJJA5ONP JFMAMJJA50NDJFMAMJJASOND
39-02. Other than U. S. Government taxes------- 109,127,771 115,047,037 78,601,783 84,859,935 1939 1940 1941
i/Reresntsacc~ual, icludng he moun indefult


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase
3 months ended with April .. $56,593,870 a $2467.351 (81,271,221
6 months ended with April .. 158,186,287 4s90925 109,277,033
12 months ended with April .. 288,228,793 144.,308,753 143.920,040


3/For railways in receivership and trusteeship the ratio was as follows:
April 1941, .91; April 1940, .24; 4 months 1941, .95; 4 months 1940 .38.
4/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.
5/Includes obligations which mature not more than 2 years after date of issue.
6/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.
d Deficit or other reverse items.


Statement No. M-125
APRIL, 1941










INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


Alton R. R. ..-----..------ ..---------.....---......
Atchison, Topeka & Santa Fe Ry. System a/ ---
Atlantic Coast Line R. R.---------------------------
Baltimore & Ohio R. R.--------
Boston & Maine R. R.-----------
Central of Georgia Ry.**------ ------------------------
Central R. R. of New Jersey** -------
Chesapeake & Ohio Ry. -_-__----------------------_
Chicago & Eastern Illinois R. R.- --------------------.--
Chicago & North Western Ry.** ___.......---------------
Chicago, Burlington & Quincy R. R.-----
Chicago Great Western Ry. ---------
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 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. -----


Net income after depreciation Net income before


For the


751,854
d 1.39S.939
3,4, 896
820,002
d 603.162
4,251,593
d 2,350.31
7d 2
S 68777
b6,8.,24352
2,590,061
765.171
7,945,605
d 720.013
9,330,189
1,183,998
1,503,637
2,630,239
d 1.014-. 00
d 10,941
1,209,383
579521
4,400,522
6,405,512
851,324
2,302,944
482,385
97,276


four months of


107,377
d 3.003.008



1,911,135
d 2.208.495
d 2
d a 692,252
a 1,459,674
485,054
10,038,768
d 2.101,81
6,725,185
545,703
834,706
1,405,445
T 170,012
d 156.052
399 4
d 4 523:2 5
334t, 881
1,865,245
d 1.481 862
a 164,760


depreciation


For the four months of


1,144,616
37,517
5,585,821
1,487,601
a 82.461
5,732,954
d 1.924.322
d 28 1022
533*485
12,870,019
3,142,147
1,874,324
10,156,60.4
416,808
18,701,327
1,950,205
2,300,619
3.,41,890
d 11,207
d 10,941
1,426,472
1,391,165
5,625,432
9,086,937
1,273, '8
5,006,333
1,205,895
277,775


503,669
d 1.778,105
1,744, 320
d 90,381
d 601,206
3.352,448
d 1.799.610
d 926,562
< 3.195.163
3,836,552
1,014,611
d 1.011.473
12,098,585
d 983.689
15,573,865
1,311,679
1,563979
2,43,501
d 2.889,.87
d 169,873
55,161
d 252.867
d 1.877.61
738,592
4,382,141
d 763,252
d 7,.292


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 interest on funded securities and rentals for leased properties
between companies included therein. Operations for 1941 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 loss of $348,984 for the month and $1,387,746 for the period.
These results include $220,642 for the month and $873,187 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 1941 income results for the System reported above. The combined re-
sults for 1941 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 (1,826,752 for
the month and $5,890,953 for the period. Figures herein given exclude results of Southern Pacific
Railroad Company 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.
U 5 GOVERNMENT PRINTING OFFICE 1941-0-245440


I I


I





C/ s+e, 3 i5
Subject to revision


UNIVERSITY OF FLORIDA
S111111111 811111ilDIIiiDI1ili11111111111111111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1406 BUREAU OF STATISTICS


Statement No. M-125
MAY, 1941


UNIV. OF- FL LI8.
DOCU. ENTS DEPT



U.S. DEPOCTOR1 Y


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)

All Class I Ra s Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of Ma For the five months of For the month of Nay For the five months of
1941 1940 1941 1940 1941 194o0 1941 1940
1. Net railway operating income ------------------------ $88,630,0 $417,06,25 $ 3 ,70216 $197,3 29 $73,145,7214 $,L65,383 $2,510,3315 $175,574,926
2. Other income 1----------------................ . ..,----,-- 1 71,52 ,64 56, l0, 1;8 9 ,15 489 50, 1,o33
2. Tother incose------------------------------ --------------------------- 9913.4'59959:5q9q2 1,15895,1.55. 2 ,243 22,050,959103
3. Total income ........................... ..........--- 99,7431 58,979,759 39,498,990 25,791 1 83,361,54 53,d ,72 243 226,055,959
4. Miscellaneous deductions from income ..--.----.--------- 2,757,512 2,470,877 14,159,258 12,919,040 2,368,429 2,207,977 12,243,501 11,557,206
5. Income available for fixed charges -- ---96,985,902 56,508,882 38a,339,732 240,872,421 80,99,114 51,672,895 312,30,742 214,98,753
6. Fixed charges:
6-01. Rent for leased roads and equipment 1,81-6,-5] 11,859,397 164,298,397 55,6,52 ,1,7L7,613 10,90,244 59,787,o09 51,388,984
6-02. Interest deductions .------ --------------- ------------ 37,78,02 38,678 18,019,933 191,56,70 24 ,601 2,83, 121, 1240 ,2
6-03. Other deductions 119,16 128--,70-3 1277,51 8 3,17 9:,8 ,50247,
6-04. Total fixed charges -----------------51,814 ,6.42 50,395,9 2 372 38 181, 217,
7. Income after fixed charges .....----------_------------.,142,260 6,112,982 1 3.81 d 9 6 01.51 ,67 1 812,7 131, 0 86 3,9,9
8. Contingent charges.....------------ ----------------............ 5,177 .1 ,9.65,780 9,992,569 23, 9,7 1, 1,203, 398; 6 780 6,019,
9. Net income /------------------------------------------ 4337,083 4,147,202 1139,35,615 a 16.732848 42,516:822 14,629,347 124,868,506 32570,251
10. Depreciation (Way and structures and Equipment).... 18,049,393 17,161,806 89,080,038 84,925930 14,410,627 13,56,7 7923,225 66,986,222
11. Federal income taxes --.-- ------------- 13,792,409 4,070,969 44,906,910 15,824,520 13,226,306 4,06,978 43,38,30 15,719,074
12. Dividend appropriations:
12-01. On common stock 17---------------- 1985.325 17,813,:6 9,669,541 40,415,732 17,985,325 17,813,463 39,669,1 40,415,732
12-02. On preferred stock---------------- 6,022,597 3,962,666 1,231,673 9,228,076 6,022,597 3,962,660 11,231,673 9,228,076
Ratio of income to fixed charges_/ (Item 5+6-04)-..- 1.87 1.12 1.51 .97 2.18 1.44 1.72 1.22
Al aC I Railways ass I Railways Not in
All Class I Railways Receivership or Trusteeship
ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6
Selected Asset and Liability Items Balance at end of May Balance at end of May
1941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707)--- ---- 61,975.907 $604,472.421 $41.431.753 $524.509,552 Number of Amount Number of Amount
14. Cash....------------------................. -----.. .-----------------------------------* $712,4,5,1 $14078,90 ,656 53,975,9 3 $386,177, 68 -reportsreports
15. Temporary cash investments -------------------------------- 1 291, 45 ,3 61,242,59 15 a:7 i 47,687,84m3 re aym.3 ,2 W .6, r61
16. Special deposits--------..........--------------.. -------.---- --.103 ,120 147,6028W5 716. 13312,82; May .... 19141 92 :1.7O '',I'I
17. Loans and bills receivable -----... -------------------- 1, .2,870 2,070,2 5 4 ,.65y ...onth. 19 0, 1 299
18. Traffic and car-service balances--Dr.-------- 2 49 7 ,88,0 26 19 21 months 19240 5791 i .23 I
19. Net balance receivable from agents and conductors--dt 67,170, 800,34 50,93 ,35, onths 190 57 3,2309
20. Miscellaneous accounts receivable ----- -------- 14 ,305,456 120,4,103 107,s~ ,719 95,
21. Materials and supplies----- 37 2, 359,82,261 3 279, ,36
22. Interest and dividends receivable ----- --------- 20,795,559 23,889,633 1,95,08 21,3 ,l2 NET INCOME- ALL CLASS I RAILWAY5
23. Rents receivable........--- -----........ ----------.....------ 1,330,538 1 o 002,045 5,718D
24. Other current assets..........---........................---------------...... ------ 7284.527 ,81 .87993 3.692536 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24) .------....... 1,551,427.395 1,271.827.308 1.174.625.522 1.025.564.364 100
26. Funded debt maturing within 6 months 4/--......-------... ---..72,029.386 168.097.433 .W4.969,712 1 44,791,673 80
27. Loans and bills payable /--.------..-----.------ .7,19 ,36 $15.422,92 1$2 ,257,584 57,811,857 0
28. Traffic and car-service balances-Cr.-------- ------,964,299 ,160,66 3,97,61 28,011,162
29. Audited accounts and wages payable -------- 265,32 ,216 239,9783 2,03,914 188,1 2,521
30. Miscellaneous accounts payable.......- ------------.-- 49,6,061 60,6,869 3],j'1,8127 49: 90 .6---90 O '
31. Interest matured unpaid.--- ------.------------ 31,18,1981 Al20,666,288
32. Dividends matured unpaid .-------- ---. ------------ ---------- 46 7 1 75 20
33. Unmatured interest accrued -------------- -------------- 88,947,887 93,624,890 61951,32 68 ,762
34. Unmatured dividends declared...........--------.. ----3..6,226,925 27,211,24 36,22,925 27,11,2
35. Unmatured rents accrued......................-------...---- ...0,52,708 30,956,787 22,353,827 2, 42,324
36. Accrued tax liability.-- ---------------------- ,62, 195,381828 20,1.9635 15,760,94
37. Other current liabilities.----------- --------------- 6.76 6183 10.157.318 24,719.4 90.704.893 O20
38. Total current liabilities (items 27 to 37)--.. 909,477,363 950.815.808 686.240.733 716.267.412 -40
39. Analysis of accrued tax liability:
39-01. U. S. Government taxes ---------127,248,179 76,651,30 117,925,761 68,932,766 JFMAMJJAOND JFMAMJJASONDJFMAMJJASOND
39-02. Other than U. S. Government taxes -------- 115,379,259 118,730,44 8 1,221,174 87,827,328 1939 1940 1941
j/Reresntsaccuals inludng he aoun indefult


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase
3 months ended with May .... (64,766,951 a 1o.35, *95,202,60
6 months ended with May .... 170,:1 4,036 1 9,5.118 5
12 months ended with May .... 327218,678 166 ,7130 160447


i/For railways in receivership and trusteeship the ratio was as follows:
May 194, 1.09; May 1940, .33; 5 months 1941, .98; 5 months 1940, .37.
4/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.
5/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.










INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


Alton R. R. _-----------------------------
Atchison, Topeka & Santa Fe Ry. System a/.-.---.-.--
Atlantic Coast Line R. R. ---------------------.
Baltimore & Ohio R. R.--------- ----- -----------------
Boston & Maine R. R.... .......... ............ ...........-----
Central of Georgia Ry.** -__----------------- .
Central R. R. of New Jersey** ......----------.........
Chesapeake & Ohio Ry ...........-------...........--..
Chicago & Eastern Illinois R. R. ----- .......................
Chicago & North Western Ry.** -------------
Chicago, Burlington & Quincy R. R. -----------
Chicago Great Western Ry .......... _........................-----
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 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.- ------


Net income after depreciation Net income


For the five
1941 1


d $241.055


2,488,930
161,318
d 902.149
11, lib4 5
d 1.396.059
2,622,359
481,74

d 722.
1,016,941
1,342,509
d 2.133.
&2 380
2.558.543


3,414,835
1,352,397
11,i093,05


1,494,982
2,207,793
3,583,937
d 1.191.624

1, 512639
98,729e
5,77 2,223
9,665,981
1,104,211
3,368,660
633,761
271,526


months of


587,889
1,270,592
1 855,038
d 4.858.03
d 18fes5,s
d 238.269


412 4

d 1 88Z77
d b9.-34


*I


before depreciation


For the five months of
1941 I 1940


2,457,932
3,208,752
:850,327
61,298
d 17,681
1,784,916
1,512,612
7,326,662
13,026,321
1,632,281
6,758.599
1,538:229
499,358


d 937.277
5o414
922033
220,454


816,044
d 241.259
05.9 1+05
d g 1,1g!33
784,583
d 2.o04.6
d 150.91
56,9314
d 4 .285
132:296
d 65jd553


1,541,603
2,182,167
3,151,000


26,091
d 769.006




d 985.,47
131625


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 Paoific 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 interest on funded securities and rentals for leased properties be-
tween companies included therein. Operations for 1941 of separately operated Solely Controlled Af-
filiated Companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of *155,508 for the month and l1,543,254 for the period.
These results include *221,507 for the month and $1,094,694 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 1941 income results for the System reported above. The combined results for
1941 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 *3,326,468 for the month and
$9,217,421 for the period. Figures herein given exclude results of Southern Pacific Railroad Company
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.
U. S. GOVERNMENT PRINTING OFFICE: 1942-0-200902


I





Subject to region
Subject to revision


UNIVERSITY OF FLORIDA

S1111 II II INTERSTATE COMMERCE COMMISSION
3 1262 08851 1414
BUREAU OF STATISTICS


Statement No. M-12
JUNE 1941


UNIV. OF FL LIB.


uQ.. DEpO(TO

U.S. DEPOSITORY
V'O


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)

Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of June For the six months of For the month of June For the six months of

1941 194 1941 1940 1941 1940 1941941 1940
1. Net railway operating income............ .............................. $93,261,379 $48,090.777 t 43338,43 *245,523,108 $76,152,560 43,469,69 $349,237,784 $21944297
2. Other income ............... 15,039,186 15,124,357 68090,46 71,8,484 13,708,968 13,922,697 62,841,22 64,43,727
3. Total income-.............................. ...............----------------. 108,300,565 63,215,134 502,468, 317.006,592 89,861,528 57,392,066 412,079,066 283,8,O24
4. Miscellaneous deductions from income...---................-- ..--2,670,236 2,810,284 16,829,495 15,729,322 2,359,135 2,551,400 14,602,636 14,108,606
5. Income available for fixed charges....--.........---- 105,630,329 60,4o4,850 485,39,354 301,277,270 87,502,393 54,80,666 397,476,430 269,339.418
6. Fixed charges:
6-01. Rent for leased roads and equipment-.....--- 13,202,501 11,881,411 77 2, 5 67,150,864 13,1 8 10,914,702 72,852,135 62,3,686
6-02. Interest deductions -----.......---- ------------ 38,-449,974 39,760,767 231, 2 236, 62 2 26,227,9 150,20,70 154,
6-03. Other deductions...---------------.........---....... --..............................------------- 119,35 129,119 12,663 ,63 97,268 520,7
6-04. Total fixed charges------------------. 51,771,80 51,71,297 30, 30,89 304, o09 674 37,239,649 223,993, 2 217,884,620
7. Income after fixed charges......----. ...--- ------------- 53,858499 8,633,553 176, 8,4 00.6 9,411,719 17,601,017 1738, 2,788 51,45,798
8. Contingent charges.--... --.............-.................------------------.......--------...-.............----- 1,058,318 1,016,0 6,1,731 6,111,7 295,982 23,6 1,7,66 17,
9. Net income 2/- ----------...............----............--..--......-------------------- 52,00,181 7,617,507 16993733 911 49,115,737 1737,3171,74182 49 7,
10. Depreciation (Way and structures and Equipment).......... 18,076,841 17,146,356 107.277,582 102,072,287 1 4,44,875 13,535.,515 8 ,4,43 0,521,737
11. Federal income taxes .... ------ -------------- 19,617,502 4,981,32 67,426,338 20,805,882 18,436,617 4961,379 64,726,843 20,680,53
12. Dividend appropriations:
12-01. On common stock------ ----------.----- 6,519,890 3,17299 46,:89,431 43,588,681 6,519,890 3,172,914 46,189,431 443,5 ,681
12-02. On preferred stock--............ ---------------- 75,000 3-0,74 11i,05,673 9,568,822 75,000 30,746 11,306,673 9,568,822
Ratio of income to fixed charges/ (Item 5+6-04)--. 2.04 1.17 1.57 .99 2.30 1.47 1.77 1.24

All Class I Railways Cl ss I Railways Not in
All Class I Railways Recevership or Trusteeship
ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS /
Selected Asset and Liability Items Balance at end of June B bance at end of June
1941 1940 141 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total. Account 707). ---- 558,497,515 $599,919,535 479, 19,018 $519,977.388 Number of Amou Nuber of A
INumberof Amount Amount
14. Cash.---.................... ----..........-- --..............736,026,415 $479,226,442 $537, 16,182 *37,704,55 reports reports
15. Temporary cash investments ---.. -----.---------- 77,110,960 53,947,526 69 33,376 4,825, June ... 1941 102 $54,909,301 27 $2,109,120
16. Special deposits.... ------------------------------------- 139,319,275 132,11,36 105, 2 ,095 116,790,189 June ... 191 57 23,811,193 72 16,193,686
17. Loans and bills receivable.... ----------------------------- 1,31,185 1,462,150 1, 81, 191,13 6 months 141 92 190,994,812 37 21,001,079
18. Traffic and car-service balances-Dr-------------- ................- 32,775,008 22,770,170 2 87,167 20,458,953 6 months 19110 57 82,393,585 72 91,508,928
19. Net balance receivable from agents and conductors ... 73, 8,137 497 ,714,583 5 7,9 5 37, 4,279
20. Miscellaneous accounts receivable -- ------------ 152,638,639 123,760,303 113 10,141 95,26,833
21. Materials and supplies --------............................... 377,618,920 350,326,010 29 2,2 272,876,711
22. Interest and dividends receivable ---16,697,521 20,841,608 14 36,686 18,395,o04 NET INCOME- ALL CLASS I RAILWAYS
23. Rents receivable......---.... ........--------- --------- .-----. 1,206,031 1,403,801 2,217 882,823
24. Other current assets ....------- .-----.. -------........... 7,883,647 6,302,373 5 10,087 4,442,790 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24)-----............ 1,616,194,739 1,242,166,202 1,226, 9,526 992,729,619 100
26. Funded debt maturing within 6 months4/---...................--- 7979,9889 $148,816,071 $48g78,954 $115,026,361 80 O
27. Loans and bills payable /.--....------ ------- -- -$72,249,573 $135,160,55 *15 57,386 $57,83,58
28. Traffic and car-service balances-Cr .---- -------- 56,795,727 42,757,63 359, 1430 29, 11,697
29. Audited accounts and wages payable -- --- ---------- 252,822,234 224,552, .339 17,2,
30. Miscellaneous accounts payable.... ------------. 5,088,900 .8,298 6, 10,987 56 ,678 40
1. Interest matured unpaid.. 56,5,801 49,134,913 51 257 3,896885
31. Interest matured unpaid ---------------------------------------------214,821,190 1Z13432892 546,77 19851
32. Dividends matured unpaid ----- ----------- -824-190 i4,:52809 24 8,077 41369 175515 ZO 2 2 1
33. Unmatured interest accrued .... --- --- 63,032,362 70,026,928 46,4,825 42,763,013
34. Unmatured dividends declared--...------- ...----. 6,720,300 1,293 6 0 0 4', 9320
35. Unmatured rents accrued..........------..... ------ ---------- 1,071,3 16, 14,96,410 13, ,6 0
36. Accrued tax liability ..--... ---------------- 227,583,63 210,89 ,3 229,922,673 170o,04 ,
37. Other current liabilities ..----.. ---. -------------- ,150,580 78,578717 31,479,478 68,426,791 _ZO
38. Total current liabilities (items 27 to 37)---........ 926,884,503 914,799,516 702,g46,162 682,381,024 -40
39. Analysis of accrued tax liability:
39-01. U. S. Government taxes... ------------- 154,597,354 87,979,653 140,764,575 77,193,207 J F AM J JAOND J FMAMJ A 5NDJPMAMJ JASOD
39-02. Other than U. S. Government taxes.....--------. 119,986,109 122,916,671 89,158,098 92,848,983 1939 1940 1941


J/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase
3 months ended with June ... $100,958,781 $2,774,4W88 $98,184,293
6 months ended with June ... 169,993,733 d 9115,34 179,109,076
12 months ended with June ... 370,159,291 19 5 195,770,756


3/For railways in receivership and trusteeship the ratio was as follows:
June 1941, 1.33; June 1940, .38; 6 months 1941, 1.03- 6 month 1940 .37.
4/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.
/ Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.
d Deficit.









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
1941 1940 1941 1940


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. R .-.... -- ...--........--........
Chicago & North Western Ry.** ...-...................................
Chicago, Burlington & Quincy R. R.. .. -...--.......-............
Chicago Great Western Ry.----------- -------------.......----
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.---- ------------------ --...................
Gulf, Mobile & Ohio R. R. .......................
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 /----
Texas & Pacific Ry.---------------------------------------
Union Pacific R. R. (including leased lines).------
Wabash Ry. *---------------
Yazoo & Mississippi Valley R. R.- ------ ----------.--------


da 123.391
7,701,498
4,884,512
8,869,820
3,225,150
301,800
d 506.205
15,502 ,162
787,616
d 571,595
2,971,990
d 67.584
i,17 ,120
d 774.253
1,525,290
1,972,794
d 2.33 28
00
3,416,404
1,330,344o
3,184, 98
950,290
4,727,810
1,826,166
d 5-95.931
7,446,60
d 3.048.3



4,312,665
2,141,607
14,26976
252,654
17,110,378
1,830,754

d 1.1132

1,565,647
571,141
72656,57a
1402 2,074
1,364,117
5,782,465
897,331
523,217


d $1.194.690
d 1 2. 562
d 1 1504
a 95582
d 1.251.831
d 1 808.
16 282,5 29
d 994 747
d 6.707l.55
d 2.17.452

d 5,338 490
d 1,!726592
514,852
d 420.001
1,-201 9t5
d 1.651.5;a


547 894
d 3.162454
15, 719 76
d 2 66 477
13 443b7


3,858,664
S2.451.734
d 204,4 39


$13,505
13,793,472
6,071,921
12,627,211
3,935,285
734,909
153,107
19,785399
1,09Z,662
1,841,027
5,754,219
923,591
2,960,570
3,358,972
S 505.,829
2,098,092
3,209,488
d 1673 624
5,270,422
1,914,526
5,353,939
1,376,077
8,077,140
2,831,122
189,872
9,678,376
a 2!96
1,959,17
20,951,046
5,145,541
3,804,087
17,578,921
2,098,345
31,324,363
2,992,722
4,059,063
6,003,105
389,942
a 27.750
1,893,589
1,789,750
9,54N,272
18,312,997
1,998,275
9,864,534
1,982,742
796,o84


da 164.62
d 119.895
2,447, 4b5
627,743
d 825.098
d 1.106,b462
20,499,236
d 692.072
d 4,.233.99
446 244
S 326'606



1,042,152
799,657
d 2.407.845
168,653
606,273
1,184,011
4 253,670
1,427,401
d 412.7


1,341,878
d 1.50.971
d 681.6 2

1,485,223
2,850,627
3,835,386
d 3.819.906
d 177,470
52,635
a 1349493
192,335
1,039v,8qS
7,655,172
d 1.372.009
39938


* 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.
b/ Includes Boston & Albany, lessor to New York Central R.R.
c/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines, The report contains the
following information: "Figures reported above for Southern Pacific Transportation System exclude
offsetting debits and credits for interest on funded securities and rentals for leased properties be-
tween companies included therein. Operations for 1941 of separately operated Solely Controlled Af-
filiated Companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $199,663 for the month and $1,742,917 for the period.
These results include $221,434 for the month and $1,316,128 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 1941 income results for the System reported above. The combined results for
1941 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 $4,617,864 for the month and
$13,835,285 for the period. Figures herein given exclude results of Southern Pacific Railroad Company
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.U.S. GOVERNMENT PRINTING OFFICE1941-0-200
U. S. GOVERNMENT PRINTING OFFICE: 1941--0-200902


I I I I


*I





Subject to revision


~a~c ~3r:Lirl


UNIVERSITY OF FLORIDA

3 1111262 08851 I I 1422II l I
3 1262 08851 1422


Statement No. M-125
JULY 1941


UNIV. OF FL LIB.





U.S. DEPOTMTOMY


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)

All Class I Railways Class I Railways Not in
Receivership or Trusteeship
Income Items For the month of July or the seven months of For the month of July For the seven months of

1941 1940 1941 1940 1941 1940 1941 194o
1. Net railway operating income ----.....-- --1.-- ----------....06,314,787 $57,725,168 $539,853,201 $303.248,276 84,147,035 149,651,742 1433,384,820 $268,696,039
2. Other income---.. ---------------- -...........14,224,541 13,300,792 8 ,15,978 84,784,275 13,120,849 12,395,352 75,962,131 76,799,078
3. Total income... ------------------ ----------------- 120,539,328 71,025,960 623,008,179 3s8,032,551 97,267,889 62,047,094 509,346,951 345,495,117
4. Miscellaneous deductions from income -----------2,812,303 2,192,182 19,64l1,798 17,921,502 2,472,939 1,923,112 17,075,57 5 16,031,717
5. Income available for fixed charges--- --------- 117,727,025 68,833,778 603,366,381 370,111,049 94,794,9 5 60,123,982 492,271,376 329,463,400
6. Fixed charges:
6-01. Rent for leased roads and equipment----- 14,219,918 11,727,728 9~.772,653 78,878,592 13,201,699 10,644,589 86,054,434 72 948,274
6-02. Interest deductions ./------------------ 38,802,761 39, 33,630 26 ,868,255 275,787258 25,308,683 25,887,503 175,929,1 180,83,57
6-03. Other deductions .--..... ---- --------------- 118,21l4 119.575 80o,877 896,208 86,307 87,724 06,74 672,586
6-04. Total fixed charges- ------- 53,140,8,9 51 3 3,471,785 355,562,58 38,596,689 36,61,816 262,90,332 24,50,36
7. Income after fixed charges ..--- --.-. -----..-- 6..4,586,132 17,552,8.4 260,894,96 14,5,991 56,198,256 23,504166 229,681,04 74,9 64
8. Contingent charges-- -- ------------- -------------- 1,057,956 1,011,046 7,372,687 7,122,533 295,983 248,665 2,036,589 1,785,859
9. Net income /- ---..--.-----. -----. 63,528,176 16,541,799 233,521,909 7,426,:a58 55,902,273 23,255,501 227,644,455 73,173,105
10. Depreciation (Way and structures and Equipment)- 18,131,086 17,193,753 125,408,668 119,266,040 14,488,958 13,573,648 99,973,761 94,095,385
11. Federal income taxes.---- -- ---- --- ------- 23,772,454 5,747,416 91,198,792 26,553,298 22,577,667 5,703,789 87,304,510 26,384,242
12. Dividend appropriations:
12-01. On common stock ..--- -------------- 4,969,813 5,788,756 51,159,244 49,995,437 4,969,813 5,788,756 51,159,244 49,995,437
12-02. On preferred stock. --- -----764,781 2,12,081 12,071,454 12,010,903 764,781 2,442,081 12,071,454 12,010,903
Ratio of income to fixed charges / (Item 5+6-04).... 2.22 1.34 1.66 1.04 2.46 1.64 1.87 1.29

All Class I Railways Class I Railways Not in
Receivership or Trusteeship
Selected Asset and Liability Items Balane at end of July Balance at end of JulyANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS

1__941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) ----. -$558,147,340 $595,082.688 $475.851.966 $515.202,837 umber of Amount Number of Amount
Amount Amount
14. Cash-- ------------ -------....----------- ------ $763,819,262 $499,125,766 $564,14,118 $382,890,394 reports reports
15. Temporary cash investments --. ----.-- -----.....------ 86,336,350 59,045,570 7, 158,766 54,898,913 July ... 1941 110 $65,078,179 10 1,50,00
16. Special deposits- -----------------------------------------------191715, 11226287 131,481,216 89 529 51 J 6 34
16. Specialdeposits 191,715, 112,2,287 131, ,216 9,529,512 July ... 1940 6215 2,0,1o03 11,1
17. Loans and bills receivable .--- -------------- 1,223, 9 1,488,627 9 8303 1,219,986 7 months 1941 9 253'65355 32 203,
18. Traffic and car-service balances-Dr.---- --------- 35,779,443 25,764,961 32.690,651 24,038,216 7 months 194o o3,871,325 71 96'~,867
19. Net balance receivable from agents and conductors.. 73,221,703 4877,991 55,734,908 36,936,092
20. Miscellaneous accounts receivable --- ------------ 152,425,797 122,41,603 114,450,380 95,883,832
21. Materials and supplies----- ----.--------------- 386,581,178 347, 0,792 299,781,583 270,334,793
22. Interest and dividends receivable ----- -----13,702,797 17,675,564 11,953,344 15,377,927 NET INCOME- ALL CLASS I RAILWAY5
23. Rents receivable.---..---------- --------- 1,056,715 1,052,723 690,082 677,223
24. Other current assets-....---. ---------------------------.. 8,872.194 6,658.332 r.2 6.lJ5,. 4.787.816 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24)---- 1.714.734.818 1.242.658.216 1.296.606.36 976.574.704 100
26. Funded debt maturing within 6 months 4/ ------ 74.964.970 $ 73.9.774 644.q2.7 63L42.756.302 80 -
27. Loans and bills payable /-.....---.---- ------ --- $. 71,360,276 118,341,414 $14,506,006 $10,713,230 O
28. Traffic and car-service balances-Cr.-- --- --------5. 8,624,130 44,403,180 40,039,478 ,622,889 0
29. Audited accounts and wages payable------- --------- 20,292,340 228,519,326 202,633,35 176,777 030
30. Miscellaneous accounts payable------------ 52,279,991 62,11,422 40,172,5 51276,933 40 _
31. Interest matured unpaid ---.-- ------.----- ------ 26,814,301 21,389,863 22,281,62 16,00,723
32. Dividends matured unpaid------------------- -----7,673,522 ,03,111 ,409 4678817
33. Unmatured interest accrued ----- ----.---.---------- 72,791,772 78,15,632 59 9860 59,381577
34. Unmatured dividends declared------ ------ ---- 4680,685 6,55,772 ,6-, .5 56, 5%,772
35. Unmatured rents accrued--- ---- ---------------- 18,601,798 18,826,8 1,70 15, 4 301 0
36. Accrued tax liability...-----. 3------ ----------- 26,771,902 235,72,6 27,520,6 189094 35
37. Other current liabilities ---- ,------- ----------.--- 0271.392 42.07.159 27 108.68 3,403812 20
38. Total current liabilities (items 27 to 37)-.... 940.162.109 8 62.177.46 708.614.101_ 623.044.438 -40
39. Analysis of accrued tax liability:
39-01. U. S. Government taxes---- ----------------- 190,098,270 98,375,520 172,767,243 86,535,674 JFMAMJJASONDJFFAMJJASNDJFMAMJJASOND
39-02. Other than U. S. Government taxes --------- 136,673,632 137,350,174 101,753,283 102,558,680 1939 1940 1941


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase


3/For railways in receivership and trusteeship the ratio was as follows:
July 1941, 1.58; July 1940, .59; 7 months 1941, 1.11; 7 months 1940, .O.
4/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.
5/Includes obligations which mature not more than 2 years after date of issue.
6/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.


3 months ended with Jul .. $15 ,223,80 2806,5028,916,873
6 months ended with July ... 218 0 3,6 6 210,188,094
12 months ended with July ... 7 6 5 231,717,190
03.4.6 3.85.'428


n~71~11(~I~FR~'~II*1~`1~65iP"-"VV-~" rr ~pcl 9 ~ BRI-`~


1'~:


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 seven months of For the seven months of
1941 1940 1941 1940


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. R. ----------------------
Chicago & North Western Ry.**
Chicago, Burlington & Quincy R. R. -----
Chicago Great Western Ry. ---------------
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.__----------------------------
Gulf, Mobile & Ohio R. R. -----...... ...............---.........
Illinois Central R. R. -... ..---.------...--------------
Lehigh Valley R. R.... ..------. -------------------------------
Long Island R. R. .----------.-----------------------
Louisville & Nashville -R 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 $22,741
13, 258,704
6,923,768
11,489,256
4,003,099
474,282
d 227a448
18,837,273
951,006
549,927
4,870,002
809,369
1,350,462
2,862,757
d 754.163
2,037,275
2,297,511
d 2,573.099
3,622,148
4,435,217
1,537,255
6,901,507
1,159,417
5,420,423
2,047,208
d 502,715
8,971,804
d 3.015.261
d 50 0.991
831, 3
15,203,624
5,024,156
2,675,701
17,513,356
1,609,881
22,615,573
2,151,293
3,323,009
5,047,970
d 1.018.760
31,497

1,749,885
829,5216
9,334,136
19,072,326
1,576,208
7,957,904
1,350,965
680,343


d 1.18 .360



d 1.460.699
d 252,824
19,288,578
d 1,136.942

d 1,4596,7362
d 666 444
d 2,17,91

752,824
d 618,702
S3,795.324
1,495,212
d 1,719,611
d 3292,142
d 918,683
d 2.40, 45
d 58274
S 1,049,051
4,273,261
d 3.587.918
d 1,919,90
d 7.787 ,546
d 92,602
687,863
a 3 o730.527
1,45,33
d 2,757.975
16,;0,7 2
196,362
2,317,413
2,864,469
d 5.783.846
S "165,797
d 395.267
S 3.292.767
1,195,983
d 3.722.576
S49,126

4,771,491
d 2,758,140
S 4.,214


(137,115
20,385,153
8,310,512
15,877,471
4,831,353
979,881
541,666
23,855,267
1,311,623
3,364,981
8,126,555
1,139,758
4,882,598
5,405,770
d 441,804
2,705,354
3,740,199
dl.802.267
4 49,245
6,601,519
2,218,732
9,440,386
1,656,964
9,323,850
3,201,796
414,279
11,589,627-
d2.270.000
3,460:430
25,820,382
6,ooo,o61
4,612,227
21,379,466
3,819,749
39,243,290
3,512,583
4,742,068
6,819,455
735,056
31,497
2,133,971
2,256,068
11,555,037
23,797,678
2,316,538
12,734,361
2,617,202
999,366


d $1,033.634
9,242,865
1,018,773
3,257,367
965,711
d 963.168

d 781.596
d 3,B68,915


1,369,233
809,638
d 2.749.504
2,;07,085
406,579
362,535
2,715,393
d 484,242
1,454;272
636,5
d 365.9 g
6,810,495---
d 2.873.990
d 1 227 911
d 5 167 824
9,197385
1,614,14o
a 1,798.720
S 7 035

1,524,553
3,596,586
4,642,476
d 65,65W
d 24.90
d 1.928096
3,254,112
904,764
1,155,812
9,213,964
d 1,498.007
d 187,-926


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.
b/ Includes Boston & Albany, lessor to New York Central R.R.
c/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the
following information: "Figures reported above for Southern Pacific Transportation System exclude
offsetting debits and credits for interest on funded securities and rentals for leased properties be-
tween companies included therein. Operations for 1941 of separately operated solely controlled af-
filiated companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $194,043 for the month and $1,936,960 for the period.
These results include $212,822 for the month and $1,528,950 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 1941 income results for the system reported above. The combined results for
1941 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 $4,829,031 for the month and
$18,664,316 for the period. Figures herein given exclude results of Southern Pacific Railroad Company
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.
U.S. GOVERNMENT PRINTING OFFICE: 1941-0-200902






Subject to revision


UNIV. OFFL LIB.




U.S. DEPOMTOAY


UNIVERSITY OF FLORIDA

IIIIIIIIIIIIIIIIII IIIIIIII IIIII1IIIH Is INTERSTATE COMMERCE COMMISSION
3 1262 08851 1430 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)


Statement No. M-125
AUGUST, 1941


Alllass I Ra s Class I Railways Not in
SAll Class I Railways Receivership or Trusteeship
Income Items Tor the month of Auuest For the eight months of For the month of August For the eight months of
1941 1340 1941 194 141 1940 1941 1940

1. Net railway operating income -----......----- .......---- .. 1,66,53-5. S -65.,O-s-,272 69,778,50 7, 16 $56,916,200o $ 58
2. Other income..--------.......------------------------------------ 11;97 11 9 28,1 11 ,02,8 4.8 912.69 45812,;07736358 10 ,,876:4
3. Total income------------------------------- --- 123,56,-167 77,558,6-6 7--6,0l0,71 1465,591.218 98,33141.7 669935,55914 607,-6,5 9 12,4"8.6r
4. Miscellaneous deductions from income .-------------------- 2, 486 22 0 6 20,500,989 22,09,600 2,197,907 19,575,790 18,229,624
5. Income available for fixed charges .---------------- 120,248,5 74,979,180 723,560,995 4, ,2 95, ,87 64,795,67 58,02,729 394259,047
6. Fixed charges:
6-01. Rent for leased roads and equipment---- 114,491,115 12,403,64 106,263,769 91,282,057 13,394,27 11,364,62 99.8,761 84,12
6-02. Interest deductions./ ------------------ 39,079,58 39,297,743 308,947,762 315,85,0 25,212,8.3 25,7 771 201,141,9 206,638,
6-03. Other deductions ------------------------------------ 11 ,4 118,973 950,2 1,015,181 87,650,155 ,4 759,41
6-04. Total fixed charges: ---- -,,------------------------ 690 51,820,180 416,161,33 407,38238 38,69;80 37, 301, 1 291,70,24
8. Contingent charges-0 1,047 8,991 28,,3,5 3;2,0o, 2
9. Net income ------------------------------------- 65:500:9 22,147,953 298,: 9651 295411 568, 110 27340,59 2814, 100,513,99
10. Depreciation (Way and structures and Equipment) -. 18,279,48 17,258,858 %143,688,116 136,524,897 14,622301 1,656,568 114,59662 107,751,95
11. Federal income taxes -------- ---------------------- 2,904,738 6,728,51. 116,065,630 33,281,839 22,941,517 6,667,839 110,256,127 33,052,081
12. Dividend appropriations:
12-01. On common stock----- ----- -- ------------- 14,642,690 14296,228 65,801,9 6,1 4 6291,665 142,6 90 1496,228 65,801,934 64,291.665
12-02. On preferred stock.--.- ------------------------ 5,520,389 2,641,467 17,591,843 14,652,370 5,520,389 2,641,467 17,591,843 14,652,370
Ratio of income to fixed charges 3 (Item 5-6-04)-..- 2.24 1.45 1.74 1.09 2.48 1.74 1.95 1.35
l Cas I Railay Class I Railways Not in
All Class I Railways Receivership or Trusteeship
ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS 6/
Selected Asset and Liability Items Balance at end of August Balance at end of August
1941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) --. 554.757.632 #594.2 5 937.963 475.439263. 515063559 Number of Aount Number of Amount
14. Cash. ... ....---- .....----- ------------------------------------------ $795.673,643 $53735.919 591,168,705 418.,800 reports -reportsA
15. Temporary cash investments ----------------------------131812,950 9 4,524 August 41 112 $6644,898 17 $94,7
16. Special deposits ------ -- ----39- 9---------------------------------------3 ,10 August 19141 72 311 1.3o, 17 9,9, 761t
17. Loans and bills receivable...------.... ------........---- 12 12 1,361431,0 8 mo,31 Aug th 1940 72 317351,307 57 9203,54
31,187,589 0629:1 a months 9 99 17 754,190 1i
18. Traffic and car-service balances-Dr------------------5 .59 2 8 month 19141 9 1751,1-9,225 0 3 188,6
19. Net balance receivable from agents and conductors 031 49,313,310 59,082,310 37 ,9 8 months 1940 60 131,179,225 9 10160 14
20. Miscellaneous accounts receivable .......... ---------.156,9 126012,128 1174...31,885 98..j
21. Materials and supplies--.----------------................-------------.395.9.8,27 341 046, 307 73 21 2 65
22. Interest and dividends receivable ------ 14851,50 17,787,867 2,962,801 15346,04 5 NET INCOME-ALL CLASS I RAILWAY5
23. Rents receivable ---------------------------1,16,887 1,228,260 85,879 777,42
24. Other current assets. ----------------.....-- ---- -94,2 7131934 712?762 5 190624 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24)-..--..---- 1.813574.882 1.261.069.891 1.392.822.030 997.946.437 100
26. Funded debt maturing within 6 months 4/ .....-----...- 113.657.776 .71.334..95. 4.69.414 144.285.5 89 80
27. Loans and bills payable 5 /-........-----......--------- ---- $71,228,720 11 7,614,710 014,74450 39,990486 60
28. Traffic and car-service balances-Cr .............-- 59,19 044 45,701,822 406,531 9 302
29. Audited accounts and wages payable------- ----- 289,365,740 238,527,111 228,149,612 16,875.863
30. Miscellaneous accounts payable..--- --............ -0, 126 ,228,743 38,7,184 2203 40
31. Interest matured unpaid..-- ..--......----------...26 7,94 .,889.990 22,50.,035 17.129,579
32. Dividends matured unpaid ..-............ ----- -------- -514 1, 417 .950 1,69,701 1,034,0 7 7'
33. Unmatured interest accrued ..----------------- 8176,677 855 7 66,35,56 66,255,8
34. Unmatured dividends declared .........------------------- 21,642,726 17 93 6 21,62,26 17,983,616
35. Unmatured rents accrued.----------..- ----...................2 046 2294,884 21,107,538 21,24381 72 0
36. Accrued tax liability..-- ---------------- 325,97947 229 6123 281,053,598 185,19
37. Other current liabilities:. .--.--------.-------------- 42.920.020 39679.575 29. .4 28.980.57 20
38. Total current liabilities (items 27 to 37)..... 995,425532 879.760.261 766,014.475 642.855,296 -40
39. Analysis of accrued tax liability:T
39-01. U. S. Government taxes .------------188,745,134 85,848,688 174,973,072 77,626,624 JFMAKJJAsONP FMAMJJASONDJMAMJJAS MD
39-02. Other than U. S. Government taxes------ 137,229,813 14 .419,435 106,080,526 107,571,191 1939 1940 1941


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


Period 1941 1940 Increase-


3/For railways in receivership and trusteeship the ratio was as follows:
August 1941, 1.63; Augut 1940, .70; 8 months 1941, 1.18; 8 months 1940, .44.
4/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.
/Excludes reports.of 3 roads whose net income (or deficit) was absorbed by
the controlling company.


3 months ended with Augut 179,532,902 I46,307,259 $133225,.6
6 months ended with August 264,299,853. 35,871,7 22428103
12 months ended with August 460,4 1i 19,3 7 26 3107,9


I
I

i


__


ii








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
_1941 1940 1941 1940


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. R. ----------------------
Chicago & North Western Ry.** .-----------------.---------
Chicago, Burlington & Quincy R. R. --------------------
Chicago Great Western Ry. _____..__----------------------
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...-. --------- -_________________
Gulf, Mobile & Ohio R. R. _
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.- ---------.------------


$80,496
17,555,522
7,230.411
15,148403
4,686:621

669,009
73,706
23,081,878
1,068,986
1,613,881
6,580,638
1,026,578
3,045,151
3,191,51L
d 614,709
2,780,929
2,744,976
d 2 86.589
4,293,540
5,291,557
1,612,906
9,691,332
1,414,670
5,960,213
2,581,889
d 385.029
10,945,894!
d 29.793

18,053,638
6,194,704
3,845,951
20,536,110
3,227,086
28,672,395
2,289,560
3,814,397
6,0834667
d 854,127

2,140,746
851,982
11,150,936
23,71],980
1,856,982
10783,479
1,752, 85
1,002,851


d $1.29.798
3,957o329
126,991
419,900
d 1.702.799

S1.19f86
23,021,729
LI'ILh


983,739
d 867,213
d 3.65 885
146051:
d 1.417.388
d ro.02 1
2,971,746
d 847.196
d 9281.08


5,058,686
d 3.619.339
d 8
,00"7,2
1,102,552
d 3.991.073
21,122,147
d 2,182,821
20,875,oo5
346,474
2,962,718
3,377,282
d 6.440.576
d 16,I925
d 465.001
d 4 110.



6,591,574
j2, ^


26.3,674
25,720,918
8,816,393
20,172,456
5,635,233
1,247,246
952,617
28,836,896
1,481,206
4,840,328
10,316,376
1,404,187
7,082,106
6,696,815
d 258.346

1,93,5236
4,39,654
d 1.502.822
$5,134,31
7,772,038
2,391,571
12,601,246
14,9836,89
10,41,311
3,904,866
63,162
13,951,001
d 12.78.713
S70,2934
769.,753
30,211,940
6,67312,520
6,o,60239
24,956,776
5,805,11o0
417.,745,953
3,851, 39
5,:478,"52
8,108,666
1,150,410
83,371
'2,581,5000
2,486,374
13,705,00oo8
29,125,718i
2,703,676
16,267,349
3 ,200,095
1,368,468


S 679,1473
4,944732
1.387,875
d 1.134.529
d 1.499 309
28,645,803
d 792.282
d 3. 180i66
2,443,883
d 305.799

bLt610.364
1,693,202
769,214
2,532,5
1,012,t80
338,863
5,437,820
a 355.154
1,434,335
710,338
d 161,365
- 7,958.475
d 2.803.71 3

11,632,397
2,161,480
d 1.780,894
257275,311
75.756
38,981.437
1,860,731
4,431,811
5.407,803
d s.410.512
d 186,786

d 2__ *t0
3,866,736
2.953,768
1,319,528
11,685,786
d 1.609.266
a 109.760


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.
b/ Includes Boston & Albany, lessor to New York Central R.R.
c/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the
following information: "Figures reported above for Southern Pacific Transportation System exclude
offsetting debits and credits for interest on funded securities and rentals for leased properties be-
tween companies included therein. Operations for 1941 of separately operated Solely Controlled Af-
filiated Companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $33 344 for the month and $1,970,304 for the period.
These results include $192,813 for the month and 61,721,763 for the period, representing interest
on bonds of such companies owned by Southern Pacific Company not taken into income by SP Co. and,
therefore, not included in the 1941 income results for the system reported above. The combined
results for 1941 for Southern Pacific Transportation System and separately operated Solely Con-
trolled Affiliated Companies (excluding S.P.R.R. Co. of Mexico) amounted to a net income of $4,801,123
for the month and 23,1465,439 for the period. Figures herein given exclude results of Southern
Pacific Railroad Company 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.


U.S. GOVERNMENT PRINTING OFFICE: 1941-0-200902





T IX 5 1 Subject to revision


UNIVERSITY OF FLORIDA
Illlll ,,lillllii ll oIIolii llliliillII INTERSTATE COMMERCE COMMISSION
3 1262 08851 1448 BUREAU OF STATISTICS

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


Statement No. M-125
SEPTEMBER, 1941


UNIV. OF FL LII

ULc _~


U.S. DEPO'TOrY


Compiled from 13e reports (Form IBS) representing 137 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

A Class I Railways Not in
All Glass I Railways Receivership or Trusteeship
Income Items For the Month of September For the nine months of For the month of September For the nine month of

1941 1940 1i91 1940 1941 1940 1941 1940
1. Net railway operating income ................................................ -10,999,692 7415,4 75,269,24 4, 3 s 9,910,77 $61,7868 9 :8
2. Other income ----....---.......--.--.--. 12,25,589 11,67, 3 o40,2,791 107,7,15 11,231,227 10,803,6681 2 9,8
3. Total inoe----- -------116,252,281 86,38,797 863,672,050 551,981,017 91,141,7 72,587,56 700o,178,251 48, 76,28
4. Miscellaneous deductions from income 2 8356 2,0,80 2,2240 22,841,795 2,4 070 2,10,972 22,046,860 20
5 Income available for fixed charges-- .,--- .. 11 68 5 404 83,447,4 529,139,22 8867 0,634 70,79,84 678,131,91 ,
6. Fixed charges:
6-01. Rent for leased roads and equipment ---- -,801, 0 13,055,673 120,065,03 10o4,337,731 12,819,844 12,10,239 112,268,605 96,417,976
6-02. Interest deductions /....--------- ----------- 39,164,16 38,72 4 348 11278 35,80 5 24,82 25,2,69 22971 1 2, ,
6-03. Other deductions -------.-------- .. 120, 8 1187 1 00 70 113 25 88616 870 78 010 6,7-82
6-04. Total fixed charges-..... ... .---------. 53,086,398 51,898,611 469,248231 59,20,851 3737,7 37,28,995 39,02296 329,1 9
7. Income after fixed charges -- ----- ---------- 60,382,027 3210 9 369 199,216 698 71 ,932,8 33,0, 33Y,115 61
8. Contingent charges-...................................-- 1,057,7 1,0 l011, 9, 88,602 9, 1,628 2 2 66 2 ,7 ,28,90
9. Net income 2/-- ......------------... 59,32:,70 31:139,331 359,710,61 60,713,743 50,63 65 32,801,723 336,479,9 8 133,315,3
10. Depreciation (Way and structures and Equipment) -- 18,70,562 17,275,543 162,158,679 153,800,441 14,788,60 13,675,o29 129,84,523 121,426,982
11. Federal income taxes--- ---------------- ------- 28,413,430 8,433,165 145,059,306 1,715,004 26,849,800 8,371,117 137,605,056 41,423,19
12. Dividend appropriations:
12-01. On common stock......--.------.....-------- 5,039,840 2,801,331 70,841,774 6,0o92,996 5,0o9,840 2,801,331 70,841,7714 67,092,96
12-02. On preferred stock.--- -------------------75,000 75,000 17,666,89 3 1 727,370 75,000 75,000 17,666,8 3 1,727,370
Ratio of income to fixed charges_/ (Item 5-6-04)---. 2.14 1.62 1.79 1.15 2.35 1.88 2.00 1.41

All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship
ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS_/
Selected Asset and Liability Items Balance at end of September Balanoe at end of September

1941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) .---- ---- 552.19.16 588.720.937 7j.90. t.0 umber of t Number of Aoun
umber l Amount re-po tub r Amount
14. Cash-------------------------------------....... --- 813,67847 568 06 35 600, 102,847 44, 086 reports reports
15. Temporary cash investments ---------------------------- 1 8,411 6620,49 r4 28230 61, 0, Sept e
16. Special deposits.----------------. ----.-..-.......... 2- 666788 99 70 171 9 7 Septembr 19 71 06 I ,952, 55 23 1,
17. Loans and bills receivable------..........----- .. ..... ----...... 1,2-- 1-----0 60- 1,009 1 6, 1 0 SeSmbr 190 82 36,
18. Traffic and car-service balances-Dr. -------r. 33,1,97 27575, 15 009317 256l 814 9 months 194) 101 37861, ,146 28 9o,615,
19. Net balance receivable from agents and conductors 9 ...... 9 8 ,5 61,25,279 89 8 9 month 190 66 16359,390 63 ,
20. Miscellaneous ac ounts receivable--.------------- 165,-69,03 .3,10,447 1 123,617,70 10,6,835
21. Materials and supplies-----------------....-----...--411,970,-401 336,14l890 320,902,463 262,7,891A-
22. Interest and dividends receivable ..................------512720 0,113 20 18.95: 83 17' 09 NET INCOME- ALL CLASS I RAILWAYS
23. Rents receivable ----....-......... --------. ... 1,7,298 1,~ 458,0 1, 22 11, 9
24. Other current assets----- ------- -------------- 10.131. 4 7.61.22 7861.60 .7 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24)...---- ... 1.915.789.526 .1.318.46. 5 l6 4 0o.6 29 1.042g.0.536 100
26. Funded debt maturing within 6 months4/_..-------- ... .... 12.1 .1 1 .g1 .1 0.246.2J Z1O.i 5 7435. 80
27. Loans and bills payable 5/-- -----------------. 71,214355 $114,396,132 14,373,8 0 36,794,626 eo
28. Traffic and car-service balances-Cr.- --. ------- 9686, 4 6,26,622 40,881,0 3 0,229 2
29. Audited accounts and wages payable--..- 267464,07 226-.,1172 207,81,13 4462 2 7 I
30. Miscellaneous accounts payable ...- ---------.. ...........61 6691,I 466 5 2 40
31. Interest mature unpad........................................................ 492,0, 4 WO,. 41060 440 1 r f
31. Interest matured unpaid---....------- ----- ............ 19 ---- 141 ------------14X
33. Unatured interest aoorued--.---- ------- 75: 952 576903 5,93, 56
34. Unnatured dividends declared ------60 ---------2 2 534608 6825
36. Accrued tax liability---- -- ------------------ --------------- 368 1,712 1996980
37. Other current liabilities------- ------------------------------------- --- g 20
38. Total current liabilities (items 27 to 37)--..---- 1.031.738.165 897.924.534 795.72.200 652.354.420 -40
39. Analysis of aogrted tax liability;.
39-01. U. S. Government taxe- ------ --------. .... ............. 225,199,314 99, 15,642 2 06,,26,701 88,22, 564, JFMAMJJAONDJ FMAMJJASONDJPMAt4JJA5OND
39-02. Other than U. S. Government taxes --. ... ,29Q,67 1,577)65 112,16,011 110,725,778 1939 1940 1941
i/Represents~~~~~I9 acras incldin th mon n eaut


1/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase


3/For railways in receivership and trusteeship the ratio was as follows:
September 1941, 1.62; beptmber 1940, .94; 9 months 19.41,.1.23 9 months 1940. 149.
4/Includes payments of prinopa 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.
/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.


3 months ended with September 189,716,881 $69,829,086 119,87,795
6 months ended with September 290,67,662 72,603,57 218072,88
12 months ended with Septembr 490, ,086 187.21.421 o302,8 665


_ __ __








INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


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


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


R. -__. ._. ..-----------------
------------------------------------------


Chicago, Burlington & Quincy R. R .-..--________.--.- ....._ .
Chicago Great Western Ry. ----................--.-----------------
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._
Gulf, Mobile & Ohio R. R.................------- --------
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.---------------------- -.


Net income after depreciation


Net income before


depreciation


For the nine months of For the nine months of
1941 190 1941 1940


$97,820
20 930, 079
7,505,392
17 ,91,207
5,366,805

a a 042
26 ,43#5812
2,588,57
8,019,610
1301:,732
4.502,94
d 548.211
3,453,800
3 3,350606
d 2.817.808
6,280,61
1,797,388
12,733,,86
1,687,187
6,062,131
3,070,625
d 529.939
12 937,90
2 72 1 828

21, 824 33
7,220,171
4,853,949
22,162,787
4,784,882
36,985,844
2,628,196
7,258, 402
d 9.595
900,32

2,686,070
1,001,910
13, 132634
274 9435
2,221,088
14,010,249
2,161 124
1,621,879


d l1.625.517


786:863
d 1.786.3%
d 1 8


d 0













5,966,9422
d 585.841













d 2 226




d 6 a5
,261,872
d 637.181
A 212, 390
d i1 1.767
d 495.051

d. 281, 2I





















8,44 ,989
d 37.0g821
d 3.170.226
d 9,570 b. 2










d 3.165.06




d 6 432,b18


$304,066
30, 143,166
9,20,766
43, 5, so93
35,803



1,6
6,235,:34
12,238,542
1 726 570
9,557,137
7,773,063
d 147.960
a 16
4,312,316
5160,692
d 1819.908
9,075,311
2,672,089
16,013,512
2,32 ,389
11,065,889
4, ~65,96
649,477
16,329,262
d 1 61 335
6 -T7
6;08 ,387
35,526,855
8,483,651
2750,204
27138,359
7,29 ,427
58,501,984
4,392, 288
6,190,887
9,537,405
1,735,974
90,312
3,183 989
2 844 169
16,157L247
33,669,388
3,173,971
20,200,591
3,789 ,422
2,036,818


d I.4j30.296
1399082a
9835,906
6,538,609
1, 84 5so


4,238,583








391,194
9 233.,212.
d 127, 162
2,o79,6 1



1,006, 6
1,2o0,556




391 191
9,233.212
d 197,162
2,692,261
1,079,642




3,61097
9,230,419
d 2:2, 4:514



2,651,183

24s 797
45,900,273
2,230.579
5, 177,581
6,44,912
d 4 616235
212,^291

d 93.512

6,001,422
1,610,390
14,200,988
d 1.515.212
, 53.,{


* 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.
b/ Includes Boston & Albany, lessor to New York Central R.R.
c/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the
following information: "Figures reported above for Southern Pacific Transportation System exclude
offsetting debits and credits for interest on funded securities and rentals for leased properties be-
tween oompanie.s noclded therein. Operations for 1941 of separately operated Solely Controlled Af-
filiated Pompanies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $32 708 for the month and $2,003,012 for the period.
These results include $196,885 for the month and 41,918,648 for the period, representing interest on
bonds of such companies owned by Southern Pacific Company not taken into income by SP Co., and,
therefore, not included in the 1941 income results for the system reported above. The combined re-
sults for 1941 for Southern Pacific Transportation System and separately operated Solely Controlled
Affiliated Companies (excluding SP RR So. of Mexico) amounted to a net income of $4,019,632 for the
month and $27,485,071 for the period. Figures herein given exclude results of Southern Pacific
Railroad Company of Mexico for the reason that policy was adopted January 1, 1940 of making no fur-
ther advances to that company, it being required to conduct its operations entirely within its own
resources.*
d Deficit.


*i


U. S. OVERnn Trn I PRINTINGOFCrl: 1l941--2-o00902


---





44Subject to r v4

Subject to revision


UNIVERSITY OF FLORIDA

111 llll llll Iliilllll llll ll 1 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1224 BUREAU OF STATISTICS

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


Statement No. M-125
OCTOBER, 1941


UNIV. OF FL LIBI





u.S. DEPiTOftY


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

All Class I Railways Class I Railways Not in
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
1941941 1940 1941 1940 1941 1940 0 1941 1940
1. Net railway operating income ------- 93,648,725 (87,638,355 $846,815,740 $532,132,239 (74,120,494 $69,041,391 $673,128,189 $456,524,142
2. Other income.--........... -...------- 12,781,324 12,106,3b 9 123,182,842 119,593,484 11,648,280 11,065,735 112,878,200 108,750,962
3. Total income .----- ---- 106,430,049 997,7L4,704 969,998,582 651,725,723 85,768,774 80,107,126 786,006,389 565,275,104
4. Miscellaneous deductions from income--------2,721,970 2,463,482 27,895,694 25,305,278 2,573,142 2,116,006 24,621,187 22,455,348
5. Income available for fixed charges--. 103,708,079 97,281,222 942,102,888 626,420,445 83,195,632 77,991,120 761,385,202 542,819,756
6. Fixed charges:
6-01. Rent for leased roads and equipment--- 10,145,173 14,144,029 q0,210,246 118,481,761 9,476,470 13,143,119 121,765,485 109,581,616
6-02. Interest deductionsl/.--- ----- 38,701,096 38,816,125 386,813,476 392,625,220 25,250,987 25,34,055 251,406 629 257,403,518
6-03. Other deductions --------- 116,115 118,785 1,186,895 1,252,810 84,261 87,o1 8 67,271 933,799
6-04. Total fixed charges---- 48,962,384 53,078,939 5i8,210,617` 512,359,791 34,811 ,718 38,7175 374,039,385 367,918,933
8. Contingent charges---------- 1,069,722 1,013,7 10,558,324 10,158,377 307,748 251,367 2 93 ,305 2,534,57
9. Net income2/..---.- ----.......- ---- 53,675,973 43,188,53r 4:3,333,947 103,902,277 48,076,166 39,165,578 384,'9,512 172,366,2 6
10. Depreciation (Way and structures and Equipment) ------ 18,039,829 17,399,415 180,198,506 171,199,856 14,344,427 13,795,487 143,742,703 135,237,342
11. Federal income taxes .... ----. -14,533,822 8,326,182 159,662,871 50,073,611 14,078,o4o 8,258,173 151,752,839 49,681,371
12. Dividend appropriations:
12-01. On common stock. 1,117,312 1,702,398 71,959,086 68,795,394 1,117,312 1,702,398 71,959,086 68,795,394
12-02. On preferred stock ---------2,014,229 764,781 9,681,072 15,492,151 2,014,229 764,781 19,681,072 15,492,151
Ratio of income to fixed charges/ (Item 5+6-04) 2.12 1.83 1.82 1.22 2.39 2.02 2.04 1.48

All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship
ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS/
Selected Asset and Liability Items Balance at end of October Balance at end of October

1941 1940o 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Ngt Deficit
of affiliated companies (Total, Account 707) $--.549, 684,205 $57 ,29,789 40. 90 $501.023.16 Number of Number of
Iumeportof Amount ert 'Amount
14. Cash--.- ......... .1........., ... $851,667,020 626,283,547 61,629,678 484,8 562 reports reports
15. Temporary cash investments ------.. ...-- ........... 178,775,439 70,483,324 14,406,855 66,169,667
16. Special deposits----- .......................------------- 229,038,966 119,409,226 168,825,272 10,816,754 October 1941 102 $56,662,589 27 $2,986,616
17. Loans and bills receivable.--.. ------- -------- 1,262,103 1,421,472 1,o60,505 1,114,089 October 1940 99 45,771,151 30 2,582,617
18. Traffic and car-service balances-Dr. ------ 38,029,743 28,876,744 35,010,174 27,691,535 10 monthE 1941 102 433,001,222 27 19,67,275
19. Net balance receivable from agents and conductors- 77,541,974 56,935,428 59,877,254 42,914,365 10 months 1940 68 198,129,253 61 94,226,976
20. Miscellaneous accounts receivable .......-----------.. 174,590,948 135,592,142 130,559,312 106,359,960
21. Materials and supplies 4-2,588,179 331,330,.--9 332,317,s10 258,474,125
22. Interest and dividends receivable ................... 22,966,9 21,284,665 20, 96,055 18,610,078 NET INCOMe-ALL CLASS I RAILWAY
23. Rents receivable .-------------- 1,401,370 1,394,144 .960,371 889,535
24. Other current assets.---........ -------. 10,824,744 79,5 396713 6,p o M I LLION5 OF DOLLARS
25. Total current assets (items 14 to 24) -- 2,010,686,935 1,401,290,966 1.553.949.999 1.114.029.350 100
26. Funded debt maturing within 6 months/ ..-........- ----. 131,524.759 $65.756.766 $10.3145.687 943.889.899 80
27. Loans and bills payableS/--- --------- --- $56,883,442 $116,354,628 1,381,413 $38,768,731 r 0 -
28. Traffic and car-service balances--Cr. ............ 63,264,146 49,714,135 43,346,735 32,998,23 3
29. Audited accounts and wages payable -.... -286,068,224 237660,030 224,387,778 185662,761
30. Miscellaneous accounts payable --.............----------- 50,537,341 62,542,585 37,921,294 51,207,877 40
31. Interest matured unpaid--........... 33,350,658 26,605,297 28,257,039 21,502,263
32. Dividends matured unpaid -............---------.-- 1,810,93 1,555069 1,46,826 1,190,785 20
33. Unmatured interest accrued- --...--....-.. ...--79,687,474 81,496,091 63,785,791 62,446,525
34. Unmatured dividends declared-- .....-....-. ,957,822 2,163,019 5,957,822 2,1630,19 o
35. Unmatured rents accrued---......------------- -------..--.. 26,78,782 27,93,692 23,99,670 24,50740
36. Accrued tax liability ------------- 36,475,831 259,603255 33 479,469 211,64,955
37. Other current liabilities....-.. ..... 448,839.893 64.840.231 3.512.9 .r781,65o .20 Z
38, Total current liabilities (items 27 to 37) 1,039.754.552 930.498.0o2 798.475 792 68;g9q549 -40 _
39. Analysis of accrued tax liability:
39-01. U. S. Government taxes 252,927,406 118,061,188 230,417,675 105,629,569 JFMAMJJASONDJFMAMJJASONDJFMAMJJASOND
39-02. Other than U. S. Government taxes---......... 133,548,425 141,542,067 103,061,794 106,011,386 1939 1940 1941
j/Reresets ccrulsincldingtheamout i defult


1/Represents accruals, including the amount in default.
yFor all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase
3.:onths ended with October $179,812,038 $96,475,819 $83,336,219
6 months ended with October 337,035,418 124,782,326 212,253,092
12 months ended with October 500,481,885 173,691,582 326,790,303


3/For railways in receivership and trusteeship the ratio was as follows:
October 1941, 1.45; Ootober.1940, 1.33; 10 months 1941, 1.25; 10 months 1940, .58.
4/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.
5/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.







INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


Alton R. R. __-_____-----------------------------
Atchison, Topeka & Santa Fe Ry. System a/---------
Atlantic Coast Line R. R ..-------- ......----------------
Baltimore & Ohio R. R.... .................------------
Boston & Maine R. R. ---------------------- ------
Central of Georgia Ry.** -------
Central R. R. of New Jersey**--------
Chesapeake & Ohio Ry. .--.---..---.----------------..--
Chicago & Eastern Illinois R. R. -----------------------
Chicago & North Western Ry.** -------
Chicago, Burlington & Quincy R. R.-----
Chicago Great Western Ry..... ---------------------------
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. --------7---------------------
Gulf, Mobile & Ohio R. R.-----
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. (including leased lines)---
Wabash Ry.* -.------------------- ------------------------------
Yazoo & Mississippi Valley R. R.---------- --


Net income after depreciationjNet income before


'I


For the ten months of


I.


$180,324
23,526,088
7,459,615
19,133,093
5,716,428
1,194,998
717,195
33,261,4~4
1,277,344
2,751,722
9,196,386
1,490,201
5,858,o69
4,874,473
d 609.486
4,024,420
3,321,434
d 2.344.172
4,919,787
7,353,507

14,v6,748
1,889,858
6,213,828
3,102,179
d 988.219
15,092,738
d 2.723.580
d 112,795
3,338,625
22,979,095
9,223,292
4,564,827
24,142,082
5,735,580
40,783,627
2,839,442
4,785,055
8,187,866
35,749
109,688

3,306,477
S 760,582
14,630,552
33,702,940
2,612,840
17,197,441
2,471,577
1,983,857


deo f, 0
1,233,692
d 1,781,958
d 2,614,903
27,906,172
d 1,202,073
d 5,156,443
2,123,955
d 380,166
a 8.588.790
d 5.309.063
d 1,839,727
1,493,722
d 398.832
d 3.290.369
2,591,862
a 67,403
d 465,901
8,467,752
d 608.147
d 1,202-704
d 195.01

6,958,6841
d 3,.369,348
d 2 586644
d 9,657,320
5,278,336
2,116,429
d 3,128,814
26,849,660
d 633,487
30,173,121
810,880
3,973,005
4,712,895
d 6,88,2488
d 241,590
d 359,4531
d 5.082:320
3,539,09
3,646,679
1,0307,52
11,379,239
d 2.7L9.756
d 79,664


depreciation


For the ten months of


1,920,968
1,815,833
40,520,587
1,792,407
6,821,049
13,583,409
1,961,932
10,910,088
8,510,027
d 165,632
4,978,127
5,383,968
d 1.231,586
5;940,486
10,462,713
2,613,504
18,099,064
,2,598,254
11,762,980
4,759,071
322,426
18,872,510
d 1.655.214
837,054
7,101,753
38,156,852
10,632,637
7,349,990
29,662,734
9,051,10o8
64,867,023
4,810,375
6,721,620
10,797,133
2,542,618
109,688
3,862,192
2,807,792
18,125,871
40,496,84
3,672,084
24,087,179
4,281,021
2,451,242


d $1,402,449
17,646,899
1,150,407
8,320,900
2,U41,694
d 1.072,318
d 1.472,851
34,938,745
d 697.365
d 1,040,266
6,547,689
88,565
d 3,613,300
d 1,837.358
d 1.369,393
2,396,376
1,652,339
d 2.254,041
3,452,870
2,972,757
518,000
11,571,536
620
4,104,315
1,536,529
113,927
10,584,404
d 2.349.343
d l,6O0445
a 5,914543
18,578,784
3,439,873
d 361,519
32,050,380
2,196,895
53,081,450
2,697,235
5,821,943
7,251,304
d 4.290.615
d 241.451

172,121
d 3.122.245
6,079,717
10,247,323
2,050,046
17,787,155
d 947.321
317,*51
: '


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.
b/ Includes Boston & Albany, lessor to New York Central R.R.
c/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the
following information: "Figures reported above for Southern Pacific Transportation System exclude
offsetting debits and credits for interest on funded securities and rentals for leased properties be-
tween companies included therein. Operations for 1941 of separately operated Solely Controlled Af-
filiated Companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $32 299 for the month and $2,035,311 for the period.
These results include $191,347 for the month and $2,109,995 for the period, representing interest on
bonds of such companies owned by Southern Pacific Company not taken into income by SP Co., and, there-
fore, not included in the 1941 income results for the system reported above. The combined results
for 1941 for Southern Pacific Transportation System and separately operated Solely Controlled Af-
filiated Companies (excluding SP RR Co. of Mexico) amounted to a net income of $6,292,553 for the
month and $33,777,624 for the period. Figures herein given exclude results of Southern Pacific
Railroad Company of Mexico for the reason that policy was adopted January 1, 1940 of making no fur-
ther advances to that company, it being required to conduct its operations entirely within its own
resources."
d Deficit.
U.S. GOVERNMENT PRINTING OFFICE: 1942-0-200902










Subject to revision


~,S~C I 6iare 34'. 64/


I.


UNIVERSITY OF FLORIDA

IIIIIIIIIII UYII III^^ INTERSTATE COMMERCE COMMISSION
3 122 08851 1455TATISTICS
BUREAU OF STATISTICS


UNIV. O- FL LIS.





U.S. DEPCOiTOY


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)

All Class I Railways Class I Railways Not in
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
1941 1940 1941 1940 1941 1940 1941 1910
1. Net railway operating income -- -------------68,764,840 $71,560,229 $916,788, 520 0 ,692,4696 $6,852,087 $60,198,351 $731,188,214 516,722,43
2. Other income----- 13,629,762 14,933,571 1716,380 134,527,053 1-,686,239 14,094,906 126,468,216 122,8 ,86
3. Total income----------------- 82,394, 6, 1,0 504,900 738,219,522 69,538,326 74,293,257 857,656,430 639,568,361
4. Miscellaneous deductions from income ---- ---- ------- 2,607,910 2,503,355 30,554,483 27,808,63 2 ,50,670 2,197,027 27,022,736 24,652,37
5. Income available for fixed charges-------------- 79,786,692 83,990,44 1,02,950,417 710,410,889 67,17,656 72,096,230 830,63,94 6149598
6. Fixed charges:
6-01. Rent for leased roads and equipment-- ------ 11,079,908 13,33,779 141,290,155 131,820,59 10,149,196 12,531,276 131,914,681 122,112,891
6-02. Interest deductions i/..--- --------- -8,291,661 39,006,095 425,105,137 431,631,317 24,934,789 25,481,951 276,341 417 282,885,470
6-03. Other deductions ----------------121,135 124421 1,308,030 1,377,231 89,359 88,490 95 650 1,022o289
6-04. Total fixed charges- 49,492,704 52,469,295 56,703,322 564,829,087 35,173,34 38,101,717 409,212,728 406,020,695
7. Income after fixed charges -- ,293,988 31,521,10 456,24,095 145,581,802 32,014,312 321,420,966 ,533
8. Contingent charges---..------ ......---- ,O--------068,472 1,01,09 i,626,796 1,;169,426 306,498 3 242, 803 2,78 3224
9. Net income 2/------------ ------------------------------------ 29,225,516 30,510,101 444,620,299 134,12,376 31,707,814 33,745,846 4 178,163 206,12,112
10. Depreciation (Way and structures and Equipment)-- 18,213,628 17,150,375 198,412,132 188,350,231 14,511,064 13,55,820 158,253,67 148,783,162
11. Federal income taxes------- ----------------- -- 8,210,697 5,491485 166,756,061 55,565,097 7,948,078 5,29634 158,583,4 55,11005
12. Dividend appropriations:
12-01. On common stock---... -------. 51,481,719 28,865,684 14,413,933 97,661,078 51,481,719 28,65,684 134,41,933 97,661,
12-02. On preferred stock.---.......---------------- 4,383,447 6,909,890 24,o64519 22,402,041 4 3,447 6,909,g90 24,064,519 22,
Ratio of income to fixed charges/ (Item 5-6-04)_. 1.61 1.60 .1.80 1.26 1.91 1.89 2.03 1.51

A Class I Railways ;Class I Railways Not in
All Class I Railways Receivership or Trusteeship
ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS /
Selected Asset and Liability Items Balance at end of November Balance at end of November

1_941 1940 1941 1940
Railways Reporting a Railways Reporting a
13. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707)--- $-536,173,715 $570,504,980 $49,197,310 $490,778,009 umber of mount Number of t
Amount Amount
14. Cash. ------------------------------------8.-.-. 30,70 678,064,941 $65,734,833 $594 $,8555. -----reports reports
15. Temporary cash investments -----.---.------------------.- 1. 1,19,57, 73,252,104 1150,0o32 68,983, November 1941 6 $3 669, 5 4 64 3 .659j co
16. Special deposits -- ---- ------------------------------..-- -229,72,87 94,01,195 15,7,506 75,56589 86 770 1' '
17. Loans and bills receivable ---------------..------ 1 ,62,998 o7 1 -------- 1,14 7 1 6, 70,3s 9 4 36
18. Traffic and car-service balances-Dr. 3,----------- ,466,20 26,324,095 28,21,6 2407,028 month 191 52,2 6
55 095l't1? 9 40,8 40 11 months 140 72 231,642133 57:
19. Net balance receivable from agents and conductors 77.955,76 53,133,974 60854,629 0,527,840 11 months 19 72 231,62,133 57 ,229,757
20. Miscellaneous accounts receivable 177,078,61 135,200,855 132,37,049 105,344,375
21. Materials and supplies ....... .........7 5 329,535, 3 1,559 2572355------------437, 329,535, 3291,9 257,2 99
22. Interest and dividends receivable ....----------------2,5,4 0,353,878 ,8 282 27,536,00 NET INCOME-ALL CLASSI RAILWAYS
23. Rents receivable .------- ------------------------------- 1,47,600 1,,498 1 8,179 1,035,374
24. Other current assets-............ -................---------10.409.836 8. 9, 8.06.444 61.22232 MILLIONS OF DOLLARS
25. Total current assets (items 14 to 24)...-----.... 2.029.381.960 1,431,508,021 1563.706,192 1,138.282,918 100
26. Funded debt maturing within 6 months 4/ ...-------------... .$130,547,731 $93.113.927 1liO.425.503 $66.257.840 80
27. Loans and bills payable 5/.----------------------------. ,702,024 $109,32954 3,72,750 $1,746,762
28. Traffic and car-service balances-Cr... .i ---. 61,559,999 46,550,266 ,656,78 1,495,258
29. Audited accounts and wages payable -------- ------- 315,819,130 2,188,851 249,314,317 204,112,245
30. Miscellaneous accounts payable--- ---------- 50,453,259 ,1 810 37,591,79, 4
31. Interest matured unpaid ---- ---- 33,223,11 26 i2,9l 29362,04 22,4 64
32. Dividends matured unpaid ------------------ 4,510,247 1,506,047 4,146,135 1,4106 ZO 3l4 1
33. Unmatured interest accrued --- ------------- 86,839,883 23, 68497 67,
34. Unmatured dividends declared--- ----- 52,60 ,675 4,989,618 52,607,65 4,989 8 O
35. Unmatured rents accrued ---............-- 31,505,939 97,733,122 27,893,
36. Accrued tax liability ....--- --------q-------_ ---------- 5, 225687792 782
37. Other current liabilities.-----------..------------------- '080- .. 70 -, 6
38. Total current liabilities (items 27 to 37)---... 1,087,658,841 934,620,968 851,818,730 692,788,132 -40
39. Analysis of accrued tax liability:
39-01. U. S. Government taxes ------------ 226,830,657 97,966,782 210,07,850 89,618,727 JFMAMJJASONDJFMAMJJASONDJFMAMJJASOID
39-02. Other than U. S. Government taxes .------- 123,435,362 127,910,395 95,084,926 94,203,419 1939 1940 1941
U~~~~~~9,B e Repesnt accrals inldngteaouti dfut


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1941 1940 Increase


3/For railways in receivership and trusteeship the ratio was as follows:
November 1941, .88; November 1940, .83; 11 months 1941, 1.22; 11 months 1940, .60.
4/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.
/Excludes reports of roads whose net income (or deficit) was absorbed by
the controlling company.


3 months ended with November 145,651,782 (10487,965 O4,813,817
6 months ended with November 3~,0 5,18 124,78,326 212,25,092
12 months ended with November 0 i.28 .138 17.14O,805 330,117333


Statement No. M-125
NOVEMBER, 1941







INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Name of railway


Alton R. R._. --------.........---------------- --------------
Atchison, Topeka & Santa Fe Ry. System a/__--
Atlantic Coast Line R. R ...._ .........................--------
Baltimore & Ohio R. R........----............-------------------
Boston & Maine R. R...-----....----- -----------------------------
Central of Georgia Ry.** .. -------
Central R. R. of New Jersey**------ --------
Chesapeake & Ohio Ry .-.........---------------------
Chicago & Eastern Illinois R. R .-----------------------
Chicago & North Western Ry.**
Chicago, Burlington & Quincy R. R. -----
Chicago Great Western Ry. ____ --------
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. -------.......... ...........-- ---- .-
Gulf, Mobile & Ohio R. R.-..........------
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.- ---------..


Net income after depreciation Net income


before depreciation


For the eleven months of For the eleven months of
1941 1940 1941 1940


$83,819
25,23, 202
9,044,758
19,601,188
5,894,o64
1,099,861
50:,4911
39,092,546
1,290,210
1,810,826


10,613,194
4,668,370
25,763,925
5 927,970
45,500,921

,099,537
,199,868
8,639;682
131,298
135,173
3,321,925
594 503
16,227826
34,024,966
3,009,790
21,871,132
2,797,482
2,422,726


d tl.737.629
787683
4,495,005
1,681,973
S 1957.162
d 3. U5U. E1
30, 7bo,45
d 1,201.990
d 5,581,45


2,598,841
d 2,686r.977
29' 55,771
a 49.65
35,487,246
1,012,040
4 41 369
5,395,26
S7.05.326
d "254,5b5


15,097,539
a 2.671.894


$336,726
36,551,954
11,229,0714
26,582,183
7,203,192
1 900,008
1: 791:65
47,121,580
1,856,784
6,301,683
14,455,046
2,153,616
11,129,254
8,368,400
d 257.156
,214,393
d 1 343.242
5,6:8,876
11,061,224
2,804,263
18,529,075
2,844,924
12,424,175
4,991,267
201,195
20,572,353
d 1.946.006
16, 65
7,216,914
41,o43,941
12,168,378
7,741,207
31,840,672
9,612,849
71,884,692
5,278,416
7,324, 73
11,580o,98
2,889,314
135,173
3,935,885
2,849,602
20,195,204
41,515,462
4,175,697
29,477,863
4,788,286
2,936,185


a 1.497.880
20 304 ,W
2, 76:14
11, .,493
3,009,979
d 1.176.789




8,012,464







646.,119
336,3 5

A l2455247



2,086,305



160,169
26,055

11,815,494
d 1.992.77
3P489;59











1,059,950
358,119
748,410





5,20886,72305
16,589,5

5,17,297
1: 4 8867
112,16,494
d 2.784.796
d .68,9;.J


4o059,950
358,398
35.286;724
2.665,252
60.589,500
3.083,791
5 4501434
8#1871297
d 4.262.679

249,943
7, ,783
13.599.992
2,489,101
22.163.36
d 68895
70:759


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 interest on funded securities and rentals for leased properties be-
tween companies included therein. Operations for 1941 of separately operated Solely Controlled Af-
filiated Companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in above statement, resulted in a net loss of $286,035 for the month and $2,321,346 for the period.
These results include $194,239 for the month and $2,304,234 for the period, representing interest on
bonds of such companies owned by Southern Pacific Company not taken into income by SP Co., and, there-
fore, not included in the 1941 income results for the system reported above. The combined results for
1941 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated
Companies (excluding SP RR Co. of Mexico) amounted to a net income of $230,230 for the month and
$34,007,854 for the period. Figures herein given exclude results of Southern Pacific Railroad Company
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."
Deficit.
U. S. GOVERNMENT PRINTING OFFICE: :1942--0-200902 .


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