Selected income and balance-sheet items of class I steam railways in the United States - 1942

MISSING IMAGE

Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1942
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:
1942
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:
AA00000587:00010

Related Items

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

Full Text




Subject to revision


UNIMV. OF FL LIB.

LUL-.s -


U.S. DEPOSTORY


~CI ~RL 3 F : Y411


UNIVERSITY OF FLORIDA

Il III III 11111II 111 111111 1PiIIII IIIIIIIII IIIIII III
3 1262 08851 1240 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 TBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of January For the --- months of For the month of January For the --- months of
1942 1941 1942 1941 1942 1941 1942 1941
1. Net railway operating income -------68,966,382 $62,017,435 $55,114,781 $52,445,094
2. Other income --- -------------- 12552,610 12,399,532 11,763,384 11,573,740
Total income ------.....- -------------- 81,518,992 7416,967 66,938,165 64,018,834
4. Miscellaneous deductions from income-------------------- 2,487,4o6 2,432,776 2,295,994 2,141,065
5. Income available for fixed charges 79,031,586 71,984,191 64,642,171 61,877,769
6. Fixed charges:
6-01. Rent for leased roads and equipment --......- 13,584,399 12,266,506 12,866,289 11,620,598
6-02. Interest deductions/.. ------------- 37,119,092 38,643,318 25,363,099 26,84o0,030
6-03. Other deductions----- ------ 117,174 120,677 1 87,495 90,099 o
6-04. Total fixed charges---......---- ----- 50,820,665 51,030,501 o 38,316,883 38,550,727 o
7. Income after fixed charges ........-...... ..28,210,921 20,953,690 26,325,288 23,327,042
8. Contingent charges------ -- --- 2,080,550 1,524,927 1,318,576 762,953
9. Net income 2/...---...- 26,130,371 19,428,763 25,006,712 22,564,089
10. Depreciation (Way and structures and Equipment) -..- 17,752,692 17,680,964 15,11g37,0 14,553,712 o
11. Amortization of Defense Projects--................-........-- ...-.....- 3,861,700 3,108,94 -
12..Federal income taxes -- ------------- 17,583,294 7,188,738 17,136,64 7,144,588
13. Dividend appropriations:
13-01. On common stock.----------- ---- -- 2,360,0036 4,862,64q9 2,360,000 4,862,614\
13-02. On preferred stock-- ------------ 536,436 536,436 536,436 536,436
Ratio of income to fixed charges _/ (Item 5-6-04) 1.56 1.41 1.69 1.61

All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship
4cevb i r Trusteeshp ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/
Selected Asset and Liability Items Balanoe at end of January Balance at end of January
1942 1941 1942 1941 ____________________
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707)--- $466,588,286 $559,914,418 1449,892,396 $509,406,943 Period Number o Number of
Number 01 Amount Number of Amount
21. Cash.........----------.... -----------..........--------.................. --------- $711,275,256 $650,521,071 1 27,958,812 $515,571,583 -reports reports
22. Temporary cash investments.-. ---- ----- .......... 135,679,382 73,318,514 127.563,019 67,709,257
23. Special deposits----------------- ---.----------------202,182,302 96, 94,155 160,325,635 81,363,58 January 1942 91 $31,785,845 38 $5,655,474
24. Loans and bills receivable-- --- ------------------- 1,200,844 1,6 ,297 1,021,5 8 1,272,574
25. Traffic and car-service balances--Dr. 2.. .. 9,609,347 28,3 0,578 26,263,5 26,25~5,34 January 1941 83 27,463,927 46 8,035,164
26. Net balance receivable from agents and conductors-- 86,660,053 54,145071 172,361,06 43,784,391
27. Miscellaneous accounts receivable 217,887,153 14,3 8,066 73,722,127 107,415,170
28. Materials and supplies ..---- ----- ------ 481.475,209 33,120,431 89,002,4o6 275,599,929
29. Interest and dividends receivable -------------------. 14,8,38 12,471,771 12,388,012 10,2121474 NET INCOME ALL CLASS I RAILWAYS
30. Rents receivable.--- ...... .......------------------------------------ 1,58,66 1,190,677 705,608 883,695
31. Other current assets...........-- --- --------- --.. 22.225.610 5.709.44 20995932 4,543,45 MILLIONS OF DOLLARS
32. Total current assets (items 21 to 31) ---..-- 1.903.271,960 1.4o1.2680.o45 1.12.308.104 1,134,611,142 100
40. Funded debt maturing within 6 months/ --------- $110,964.543 $103,731,819 94,228,621 0 678,335,768 8 0
41. Loans and bills payable/-- ---------------------------. 5,264,515 1,0420 3,764,750 25,824,396
42. Traffic and car-service balances-Cr. 56,010,575 318,890 0,505,324 33,249,291 60
43 Audited accounts and wages payable.......... 297,090,97 233547,400 ,131,807 188,400,490
44. Miscellaneous accounts payable ---------- 53.,92,86 72 5,871 39,391 ,0 .390, 36,410 40
SInterest matured unpaid. -------------------------- 56, 31 3-,-23,97 51,-236.4 31 12
Dividends matured unpaid ---- --- ----------------- -5, 129, 5 42909,057 2601142 ,55 167 2 0 /
4 Unmatured interest accrued ... 79, 7 7,---97-188 -71,956 62,o --5---0" 3- 4-3--3
Unmatured dividends declared ------ 8,132,331 4,312,816 2a36,331 4,312816
14. Unmatured rents accrued ------ ..- 17,871,959 18,347,510 160o6,729 16,56,473 0
50. Accrued tax liability .. ..... -- -.... ------- 381,237,429 233, 48,413 ,248, 412 200,543,65
51. Other current liabilities --------------- 53,631,295 37,813.807 40,878,791 28,125,289 O
52. Total current liabilities (items 41 to 51.)--- 1,070,385.856 823,655,340 57,719,576 632,555,356 -4-
53. Analysis of accrued tax liability:
3-01. U. S. Government taxes ----------------------- 270,935343 126,094,851 53,102,272 115,188,358 JFMAMJJASONDJFMAMJJASONDJFMAMJJASOND
53-02. Other than U. S. Government taxes------------- 13,302,086 107,363,562 91,146,1 85,355,296 19O 19241 194
i/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 1942 1941 Increase
3 months ended with January $114,447,291 $100,591,388 *13,855,903
6 months ended with January 294,259,329 197,067,207 97,192,122
12 months ended with January 508,352,475 200,696,363 307,656,112


3/For railways in receivership and trusteeship the ratio was as follows:
January 1942, 1.15; January 1941, .81.
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.
U.S. GOVERNMENT PRINTING OFFICE:1942-0-200902


Statement No. M-125
JANUARY 1942












INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
NET INCOME AFTER DEPRECIATION AN1D NET INCOME BEFORE DEPRECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the month of January For the month of January
1942 1941 1942 1941


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, Rook Island & Pacific Ry.** .........
Chicago, St. Paul, Minneapolis & Omaha Ry. ...
Delaware & Hudson R. R. .......................
Delaware, Lackawanna & Western R. R. .........
Denver & Rio Grande Western R. R.** ..........
Duluth, Missabe & Iron Range Ry. .............
Elgin, Joliet & Eastern Ry. ..................
Erie R. 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 & Saulte Ste. Marie RX**
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. .............


3206,475
3,400,917
1,617,961
471o:43
6,823
4 115748
-1,76289
193,015
d 839.871
1,334,900
77,823
1,141,170
547,595
d 155.856


753,


d 102.572
d 56, m
120,02"
573,992
d 297.485
. 169,025
1,027,278
d 533,214


2,082,93071



162,969
368,796



309,904
635,212
34,765
2,13998,84
6:6496
2,082,9307
162,969
368,313
385,999
d 43.324

318,571
151,963
1,399,706
3,753,089
249,417
2,040,197
276,779
411,442


d $80.647
841,240
1, 776,:350
911,874
263,411
d 94.677
d 211 783j
159,030
d 685,127
931,4 1
38,4R1
d 138.233
d 19 4 ,
144,730
260,029
d 256.900

446,037
33,015
d 1.058.218,
117,184
874,412
200,989
d 223.686
1,186,357
d 632.007
d 225.'98
d 125 ,300
2,123,252
594,920
8,337
2,822,746
d 511.156
2,649,170o
371,743
398,865
683,313
d 195.685
d 13.2g4
208,156
d 120.946
800,699
1,161,075
211,306
607,603
34,288
32,002


__ __ __ __ __ _I__ __ _I_ AI__ __ _I


$229,980
4,567,950
1,944,218
1,348,516
208,565
d 39.710
2,5 6
24:75
d 410,105
1,828,558
125,031
1,658,784
923,215
d 105.908
374,452
19o0,223
241:401
d 1,212,112
669,816
1,239,437
2,953
687,184
196,151
1,239,270
d 82.519

.1,617,684
d 366,988
102,720
960:028
2,279,774
787,054
384,190
2,770,906
597,233
4,588,636
374,257
634,663
784.780
209,162
1,:447

376,945
361,123
1,880,419
4,434,15s
357,869
2,822,615
508,235
457,125


d $57.790
1, 84,1i0
1,964,208
1,533,780
381,987
d 23,402

210,519
d 281,500
1,387,360
85,0o4
367, 421
282,538
d 153,178
240,378
466,232




d 703.476
188,690
1,428,686
370,559
d 93,759
1,563,330


3,632 5
732,644
285,940
3,372,600
d 226.462
47970o,75
558,609
591,782
936,279
56,551
d 13,244
262,362
80,798
1,096,055
1,825,236
316,809
1,277,835
215,209
75,932


Report of receiver or receivers.
Report of trustee or trustees.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
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 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 1942 of separately operated Solely Controlled Af-
filiated Companies (excluding results for Southern Pacific Railroad Company of Mexico), not included
in income results for the System, resulted in a net loss of $121,692. These results Include $195,577
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 1942 income results for the System. The
combined results for January 1942 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
$3,826,974. Figures herein given exclude results of S.P.R.R. Co. of Mexico for the reason that policy
was adopted January 1, 1940 of making no further advances to that company, it being required to conduct
its operations entirely within its own resources."
Deficit.


*
**
a/!





C Suject to re

Subject to revision


UNIVERSITY OF FLORIDA

3 1262 08851 1257


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No. M-125
FEBRUARY 1942


UNIV. OF FL LIB.
DOCUMENTS DEPTL



U.S. DEPOO9TOMY


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

Compiled from 132 reports (Form IBS) presenting 136 steam .railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
I Class I Railways Not in
All Class I Railways 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
~~~_______~~~_________1942 1941 1i2 1941 1942 1941 1942 19411
1. Net railway operating income -------------------- ----- 66,486,019 $58,135,-6 *61351.450258 $120,156,261 $51,113,307 $48,974,563 $106,285,945 o101,42,519
2. Other income--....----... ----------.... --....... ....------------...................------------------............. 10,955,380 10,61,8 23,507,992 23,014,221 10,203,817 9,859,893 21,967,201 21,33,3134
3. Total income----- ------------------------77.1,399 68,750,652 15958.250 3,170,482 61,317,124 58,834,456 128,253,146 122,856,153
4. Miscellaneous deductions from income..-.-------------------- 2,373,7 46 2,231,828 M4,61,151 4,664,604 2,092,595 1,965,835 4,388,587 4,106,900
5. Income available for fixed charges ----------------- 75.067,653 66,518,824 154,097,099 138,505,878 59,224,529 56,868,621 123,864,559 118,749,253
6. Fixed charges:
6-01. Rent for leased roads and equipment --- -- 12,234,401 12,041,809 25, 799 24308,316 11,44,322 11,388,101 24, ,611 23,008,699
6-02. Interest deductions/---------- 36,958,221 38,142,37 7, 7685.696 25,293,295 26,42,351 50,65 396 53,582,381
6-03. Other deductions-------.. ---------------- 1----------- 17,195 117,706 :34,369 238,383 87,493 87,183 174,988 177,282
6-04. Total fixed charges.....................----------.......------------ 49,309,817 50,301,894 100 0,485 101,332395 36,829,110 38,217,635 7515,9 76,768,362
7. Income after fixed charges -----25,757,836 16,216,90 53,-6,614 37,173,.83 22,395,419 18,6 ,986 148,718 56 41,980,891
8. Contingent charges ------------------ 2,042,212 1,531767 ,2,761 3,056,69 1,2,239 769,79 2,59,81 1,532,7
9. Net income 2/--. ----- 23,715,624 14,685,163 149,.3,853 34,16,789 21,115,180 17,881,192 46,119,750 4o, 48,14:
10. Depreciation (Way and structures and Equipment)---------- 18,837,533 17,662,462 36,590,188 35,343,427 15,619,061 14,532,247 30,756,494 29,085,959
11. Amortization of Defense Projeots. ...----- ----- 4,041,608 7,93,306 3,794,411 6,903,355 -
12. Federal income taxes---- ... ---------... 24,178,119 6,964,813 41,79,165 14,153,551 22,576,599 6,847,443 39,710,995 13,992,031
13. Dividend appropriations:
13-01. On common stock -. ---------- -- 12,738,588 14,985,1416 15,0 8,588 19,8148,145 12,738,588 114,985,496 15,08,588 19,848,14
13-02. On preferred stock -------------- 2,583,-73 2,583,41i 5,-9,870 3,119,817 2,583,473 2,583.411 5,069,870 13119,87
Ratio of income to fixed charges_/ (Item 5-6-04)_-_ 1.52 1.32 1.54 1.37 1.61 1.49 1.65 1.55

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

~~~~_____~~~~____________1942 1941 1942 1941
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) ..---- 66,729,588 $560.181.476 $450.09,150 $09.802.102 Number of Amount Number of Amount
21. Cash $-------------- ---------------------------------- 746,705,113 674,589,645 $55251,561 $53400,832 reports reports
22. Temporary cash investments---------------------------- 136,101,795 71,888,388 17,4032 65,59,131 February 1942 95 $27,4so,665 34 $31765,o41
23. Special deposits.--------.... ---- -- -----------------181,791,431 .156274,100 143,4 6.009 141,962,872 February 1941 77 23,814,929 52 9,129,766
2 4 L o a n s a n d b i l l s r e c e i v a b l e - - - - - - - ---- - - - 1 2 2 0 5 6 5 1 5 3 2 3 9 9 1 0 i 7 *7O 1 2 3 2 0 9 9 2 m o n t h s 1 9 4 2 9 5 ) s 4 3 9 0 2 0 7
25. Traffic and car-service balances-Dr. ---------...----- 2 601o328 2895690 21,0 7 50 27.115.500 2 months 1942 92 58.8614,41 37 9,020,587
26. Net balance receivable from agents and conductors 8,655,150 56,620,166 ,504 429712,909 2 months 194l 80 50,969,558 49 16,852,769
27. Miscellaneous accounts receivable-- ------------------------234,485,006 135,287,843 186,7 3,169 107,18,957
28. Materials and supplies ----- ---------499,808,867 356,6148,514 4403,7068,194 285,4425,21
29. Interest and dividends receivable--- -----------.. ------ 17,723,327 15,834,0oo 15,9 46984 13,424,748 NET INCOME ALL CLASS I RAILWAYS
30. Rents receivable ---- -------- -- ----- 1,132,869 1,162,326 9P.-95 11,012,339
31. Other current assets......---------.--....-------- ----------------- 4 24780", 45622,. 91 23 219 4538,886 MILLIONS OF DOLLARS
32. Total current assets (items 21 to 31)-----------1,960,008.947 1.504.316.280 l.5514.l3.373 1.227.873,474 100 -
40. Funded debt maturing within 6 months 4/ ------ --- 101.994.179 $137.69.296 t84.o07.6l1 $111.604.9 80 O
41. Loans and bills payable 5/-- ......--- --------------- 5 7,853,165 81,455,554 .3, o400 25,447,311 6 0
42. Traffic and car-service balances-Cr..------. 2,288,307 47,315,220 ,7 12 3,329,955
43. Audited accounts and wages payable -------------------- 328,296,528 257,196,977 2 ,4926 209,333,361
44, Miscellaneous accounts payable.....----- i 55,132,675 52,229,179 39,5 ,238 40,912,238 40
45. Interest matured unpaid --..- ----------- --- -5,809,751 38,716,871 52 880 314,991,150
46. Dividends matured unpaid.---- -------------------------- 487905 1,541,672 642 1,189,2814 20
47. Unmatured interest aoorued...----------------------- 88,506,612 86,972,521 7 ,9 L,219 70,o089775 0
48. Unmatured dividends declared---.------- 17,777,638 16,468,346 17,7 ,638 16,468,341
49. Unmatured rents accrued-- 22,572,658 23,60,127 20,8 ,015 21,93 4,173
50. Accrued tax liability..---- ----- -- ----- -----------31139212,386,"56 336&,8 ,026 183,263,50
5 1 O t h e r c u rr e n t li a b i li ti es .... .5 R N.._ . .2 ..0 2 1 4 0 7.. .
51. Other current liabilities---- --- ------------------------- .4 50.656.72 0 4705926 .2.0--
52. Total current liabilities (items 41 to 51)------- 1,120,368,951 868.544,895 907.j i3.217 678,665,323 4 0
53. Analysis of accrued tax liability:
53-01.U. S. Government taxes--------... --------------- 255,153,046 195,496,365 243,8 ,47 98,981,101 JFMAMJJASONOJFMAMJJASONDJFMAMJJASOND
53-02.0ther than U. S. Government taxes------ 115,986,022 106,890,191 93, 479 8,282,43 194~0 1941 194Z
-----1


i/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with February $105,336,094 $84,69,315 $20,566,779,
6 months ended with Pebruary 252.526,203 189,607,280 62,918,923
12 months ended with February 517.377.9Q1 3.79,0av Q.9 Q.QO1


S /For railways in receivership and trusteeship the ratio was as follows:
*bruary 1942, 1.27; February 1941, .80; 2 months 1942, 1.21; 2 months 1941, .80.
S4_/Includes payments of principal of long-term debt (other than long-term debt in
efault) 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.
W/Exoludes reports of 3 roads whose net income (or deficit) was absorbed by
jhe controlling company.


I















INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
11W INCOME AFTER DEPRECIATION AND NET INCOME BEffOR DEPRECIATION AND
AMOR TIZON OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the two months of February For the two months of February
|__.1942 194 1 19142 1941


Alton R. R. ..................************
Atehison, Topeka & Santa Fe By System ..***
Atlantic Coast Line R. R. *....*..............
Baltimore & Ohio Re R. R......*...*......*...***
Boston & Maine R. R. ........................
Central of Georgia Ry,**** ,,..................
Central R. R. of New Jerseyjo ....o......-.....
Chesapeake & Ohio By. ........................
Chicago & Eastern Illinois R. R.. *************
Chicago & North Western BRy** ................
Chicago, Burlington & Quiney R. R. ***********
Chicago Great Western By. ....................
Chicago, Milwaukee, St. Paul & Pacific R. R.**
Chicago, Rook Island & Pacific Ry.** .0000...,4
Chicago, St. Paul, Minneapolis & Omaha By*. 0.,
Delaware & Hudson R. R. R **. ***.........e....
Delaware, Lackawanna & Western R. R. ...0......
Denver & Rio Grands WesternUR. R*.e **.........
Duluth, Missabe & Iron Range By. *..*...*00**..
Elgin, Joliet & Eastern By. ....,.............
rie R. R. ...R ...-......... .-....-.-.--00
Grand Trunk Western R. R ...****....***..o..***
Great Northern y. .............. ............* .
Gulf, Mobile-& Ohio Ra. R .**.. ,.41. ...,
Illinois Central R. R. ....*....*....*...*..e *
Lehigh Valley R. R ............... ...o.0
Long Island Re. R* ***************************
Louisville & Nashville R. R. H....0...0..0.0.
Minneapolis, St. Paul & Sault Ste. Marie By.**
Missouri-Kansas-Texas Lines ...................
Missouri Pacific R. R.** .****......*************
NewYork Central R. R. b_/ ..........*...*.**
New fork, Chicago & StLouis R. U..
New York, New Haven & Hartford R. R.* ...****
Norfolk & Western y. **.....*********************
Northern Pacific By. ******..0.***...*..**...
Pennsylvania R. R. ...............**********...
Pere Marquette Ry. *....*,..........0...0.....,
Pittsburgh & Lake Erie R. R*...*000.000
Reading Co. *..............::::...... :.:....
St. Louis-San Francisco y,** ................*******
St. Louis, San Francisco & Texas By. ........,
St. Louis Southwestern Lines ...........******.
Seaboard Air Line Ry.* *...,................
Southern By. *..*.0.*.*.....*............*....*
Southern Pacific Transportation System o/ .....
Texas & Pacifie Ry. ..................,.......
Union Pacifie RH Re. (inolutdng leased lines) .
Wabash Ry. *.~...e...*.sees****.O. ..... 0,.0.0.
Yazoo & Mississippi Valley R. R. .............


*281,930
5,121,208
2,797,808
928,71og
278,233
d o102.46

277:3u
d 1.223.13
2.917,340
180,065
1,494,575
1,264,709
d 281.201


1,036,592


3,440,988
294,151
2,537,539
190.928
499,421
891,384
17,126
5 8,254
672,280
2,053,026


700,5
1,137,57


1,t 2,390
663,731
d 144.877

236,170
d 1.]30 .47
1s,725,





612, 62
t 65


416,382
d 801.739











1,870,3399
824,485
196:142


412,686



d 162. 07
1115284
99.319
5.3015N 5

a #62IM

19334:438

- b
225.916
1,870,499


1220353
d 242,?78


*329,048

2,752,623
561,723
9281



38974,251
274,4.2
2,53,O61
2,0 7,660
d l118.84


1.823.123
5.211i,85
1,783,M8
1,361,898
4:729,290
1.1407,250
7,,172,1

1,68,936


655,202
1,094A113
3,477,163


5,092,47
1,089,178
1,225.917


$ 1.20.494

2, 687,531
900,694


2,638,036
156,128
63:344
380,282
A 323*.266

828,804



l,,628


747,910




1,050,318
d 1.177,




1,840,92
2,6 7,705
1,3 ,M70
6,418,513



1:8M,390






39rWi^l 6
"7-zf


* Report of receiver O> receivers.
** Report of trustee or trustees.
Includes Atchison, Topeka & Santa F By., Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe By.
Includes Boston & Albany, lessor to New lork Central R.R.
:/ Includes Southern Pacific Company, Texas & New Orleans R.R., and leased lines. The report contains the following
information: 'Figures reported for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Operations
for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern Pacifie
Railroad Company of Mexico), not included in income results for the System, resulted in a net lops of $207,356 for
the month and 1329,048 for the period. These results include $195,577 for the month and $*31,15 for the period,
representing interest on bonds of sueh companies owned by Southern Pacifio Company not taken into income by SP Co
and, therefore, not included in the 1942 income results for the System. The combined results for 1942 for Southern
Pacific Transportation System and separately operated Solely Controlled Affiliated Companies (excluding SP RR Co
of Mexiao) amounted to a net income of $3,3W,377 for the month and $7,171,351 for the period. Figures herein
given exclude results of SP RR Coe 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."
dA Deficit.
U. S. GOVERNMENT PRINTING OFFICE : 1941-0-200902





:r / a If:9I,9


Subject to reviunk


UNIV. OF FL LIB.





U.S. DEPOSITORY


UNIVERSITY OF FLORIDA

II I 1III Il U Ii llj l l i l l II I llII111111111111H I
3 1262 08851 1265 INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


2


Statemmt No. M-12
MAMC 1942


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

Compiled from 132 reports (Formr IB) representing 1i$ 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 March For the three months of For the month of March For the three months of
1942 1941 1942 1941 1942 1941 1942 1941
1. Net railway operating income....--.---.---------.-------..... 2,375,472 (80,170,449 $226,325,723 $200.326,711 $70,839,776 $66,830,722 $175,625,713 (168,253,241
2. Other income-- 1---------------------477-,67 11,117 ,536 3985.15, 34 3759 10,683,210 10,370,717 32,650,41o 31,804,351
3. Total income.------.........-------------........-.......-............----------...... ---...... --...-.. 103,852,639 91,287987 ,310,879 2345870 81,522,986 77,201o,439 208,276,123 200,057,592
4. Miscellaneous deductions from income-.------------------- 2,601,005 2,633,832 Y,462,156 7,298,437 2,231,371 2,273,047 6,619,958 6,379,947
5. Income available for fixed charges----------------.............. 101,251,63 88,654,155 25,848,723 227160,033 79,291,615 74,928,392 201,656,165 193,677,645
6. Fixed charges:I
6-01. Rent for leased roads and equipment------------- 15,067,571 13,135,314 ,886369 37,443,631 14,222,718 12,432,353 38,537,328 35,441,0 2
6-02. Interest deductions ---------------------- 37,O35,2e6 38,523692 16,2552 15,30,389 25,267o202 26,837:860 75,923,598 80,4 1
6-03. Other deductions-- -------------------------- 1 7 7,687 356,077 356,70 92121 87319 267,110 26401
6-04. Total fixed charges ------------------------ 52,224,51 51,776,693 152, 54,998 5,, o, 39,582,o41 39357,532 114,728,036 116,1258 4
7. Income after fixed charges--- ---- ----------------- 4927120 36,877,462 101,49,75 74,050530 31 : 74 6356,86 86,98, 77251,71
8. Contingent charges ............ .................... 2 139 1 1 54 76 86 4 8 9 2,2
9. Net income 2.---------- -------------- 4889 35,328,63 95I 45 694454 38 32398 348,995 82858,270 75,232,139
10. Depreciation (Way and structures and Equipment) -- 19,695,109 17,885,328 56,285,337 53,228,758 16,146,151 14,756,532 46,902,685 43,842,491
11. Amortization of Defense Projeot 5,466,914 13,370,220 5116738 12,020,093 -
12. Federal income taxes-.--............------------------- 39,713,897 11,987,264 82,920,464 26,14o0,715 37,568,378 11,844,210 78,726,775 25,836,141
13. Dividend appropriations:
13-01. On common stock -----------------4. ,154,215 3973, 1,E25,803 23j,74,968 4,15,215 92, 19,1,80 7:9 9
1-02. On preferred stocka-------- (Ie----6---------------- 85,223 132 .48 5 593 95 85,223 13 5,15093
Ratio of income to fixed charges/ (Item 5+6-04) -.. 1.94 1.71 1.67 1.48 2.00 1.,90 1.76 1.67


Selected Asset and Liability Items


20. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707) -......
21. Cash .- -.---.-- --------- --------
22. Temporary cash investments -----------
23. Special deposits---------------------------------- -----------
24. Loans and bills receivable .---------- --
25. Traffic and car-service balances-Dr. -----
26. Net balance receivable from agents and conductors ..
27. Miscellaneous accounts receivable ...... -----------..
28. Materials and supplies ..................----------------..
29. Interest and dividends receivable --...........---
30. Rents receivable ...-............----------
31. Other current assets-- --- --.------------------
32. Total current assets (items 1 (to 3ie) to 1)
40. Funded debt maturing within 6 months 4/..-----..
41. Loans and bills payable t/ .....-------. ---------....
42. Traffic and car-service balances-Cr ---
43. Audited accounts and wages payable .- ------
44. Miscellaneous accounts payable .-- -----------------
45. Interest matured unpaid .-----------------------------
6 Dividends matured unpaid ---------------------------
7. Unmatured interest accrued --------------
48. Unmatured dividends declared--------------.--
49. Unmatured rents accrued.--.....------ ..-----------....................-- --
50. Accrued tax liability .--- ----.---------
51. Other current liabilities .-- -----. -----
52. Total current liabilities (items 41 to 51)--..
53, Analysis of accrued tax liability:
53-01. U. S. Government taxes -------------
53-02. Other than U. S. Government taxes------


All Class I Railways
Balance at end of Maroh


1942


I* I ~


$64,740,812


659f. 1
18~1#4~

,12
519159 619

25527'75


1941


$560,579,577


$676, 3,300
69:937,442
130;o57,31a
1,610,:40
2,19,06086
1 36,788,719
%1 ,419,378
17 142, 196
1,148,572
6.271.181


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with March (95,137,945 $69,445,410 $25,692,535
6 months ended with March 5237,078,198 1 :2569 4,281,629
12 months ended with March 527,27 ,02 143 26 .943259


Class I Railways Not in
Receivership or Trusteeship
Balance at end of March


1942


q --I


$44j,079,185


90*,24:

:22 13: 21
194,542,230

23: 9%.991


1941


#510,202,164


108536,5352
Sil.,94
10,7,109
51,478 178
107, 113085
21Z 25,9
918 ,769
5.266 211


ANALYSIS OF NET INCOMI--ALL CLASS I RAILWAYSf/


Period


Railways Reporting a
Net Income


Number of
reports


Amount


Railways Reporting a
Net Deficit


Number of
reports


Amount


March 1942 108 $50,385,482 21 $3,497,512
March 1941 91 03,942 38 103,319
3 months 1942 98 104,632,762 1 9 494,817
months 1941 84 90,226,421 5 20,781,011

NET INCOME ALL CLASS I RAILWAYS


67,362,522 111,072,711 J FMAMJJASONDJFMAMJJASONDJFMAMKJJASOND
91,727,956 83,526,864 19q40 191 1942
/For railways in receivership and trustee hip the ratio was a.follows:
S, 14942, 1.74; March 1941, 1.l; 3 months 1942, 1.39; 3 mon 1941, .91.
S 4/Includes payments of principal of long-term debt (other than long-t4rm 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)
NET INCOME AFTER DEPRECIATION AND NET INCOME BEFORE DERECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the three months of March For the three months of March
1942 1941 1942 1941


Alton R. R. ..................................
Atchison, Topeka & Santa Fe Ry. System / .....
Atlantic Coast Line R. R. .....................
Baltimore & Ohio R. R. .......................
Boston & Maine R. R. ...........................
Central of Georgia.Ry.** ......................
Central R. R. of New Jersey** .................
Chesapeake & Ohio Ry. ........................
Chicago & Eastern Illinois R. R. ..............
Chicago & North Western Ry.** ................
Chicago, Burlington & Quinoy 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.** ...........
Duluth, Missabe & Iron Range Ry. ..............
Elgin, Joliet & Eastern Ry. ...................
Erie R. R .... .... .............. ...
Grand Trunk Western R. R. ....................
Great Northern Ry. .............................
Gulf, Mobile & Ohio R. R ......................
Illinois Central R. R. .........................
Lehigh -Valley R. .....................
Long Island R. R. ..........................
Louisville & Nashville R. R. ...................
Minneapolis, St. Paul & Sault Ste. Marie Ry.**.
Missouri-Kansas-Texas Lines ...................
Missouri Pacific R. R.** .....................
New York Central R. R. b ..................
New York, Chicago & St.Louis R R. .........
New York, New Haven & Hartford R. R.** ........
Norfolk & Western Ry. .........................
Northern Pacific Ry. ...........................
Pennsylvania R. R. ............................
Pere Marquette Ry ............................
Pittsbrugh & Lake Erie R. R. .................
Reading Co..............................
St. Louis-San Francisoo 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. ...............


$358,885
8,764,873
4,794,105
4,010,827
1,085,738


3,590,903
339,186
1,888,375
2,310,151
d 275.812
1,031,270
324,328
63,340o
S19627.151
2,1 9,74
d 520,19



d 475.457
7,13

5T4,679
2,110,495
4.367,885
2,512,100
2,008,006
4,813,218
898,874
3,869,886
335,226
855,124
1,987,126
457,742
7,752
1,196,454
2,042,499
3,575,312
10,608,767
953,280
5,824,739
1,o67,oo6
2,006,813


3,35:3547
3,:6 ,979
1,169,184



d 1,685,218
2,so809,665
193,609
385,149
39,664
d 561.506
690,154
7 2 460-
d 1.112 .0


1,1,904
525,768
S2.51937.02334
3.193,233


d 600.817
6, 383,b5
2,034,254
8,4 9.540
d 948,644
7.886,515
995,511
1,237,513
2,252,523
d 618.413
8 94 89
705,733
3,390,096
4,437,629
661,974
1,825,325
47 41


$454,772
12,402,023
5,837,695
6,709,155
1,531,677
355,693
305,256
8,262,995
558,914
715,209
5,229,879
482,615
3,582,558
3 ,4,377
d 125,904
1,519,312
949,628
898,077


3,856,811
d 192.053
1,917,318
630,300
4,121,690
. -935,697
d 19.292
5,14,725
d 850.487
859,506
3,287,242
10,049,861
3,027,007
3,061,551
7,276,420
2,608,627
11,640,618
1,098,342
1,656,563
3,185,655
1,214,581
7,752
1,372,225
2,671,620
5,743,541
13,735,109
1,279,893
8,300,119
1,818,077
S 2,139,237


5,319,077
1,524,507
158,481
d 290,814
,67954
a 475,906
4,187,209
334,674
1,900oo,311
1,130,703
d 425,496
976,749
1,363,138
d 788.179
dA 5.6e 545

2,320,005
818,884
S 1,79517816
4,879.591


526,162
10,918,920
2, 7,392
1,286,506
10,106,355


1,564:680
1,834,265
3,011,215
134,333
d 24.698
1,061,490
1,314,379
4,293:,29
6,445,860
978,496
3,837,869
1,018,132
13,137


* Report of receiver or receivers.
** Report of trustee or trustees.
a/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ 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 for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Oper-
ations for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net loss of
$48,054 for the month and $377,102 for the period. These results include $195,577 for the month and $586,731
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 1942 income results for the System. The combined
results for 1942 forf Southern Pacific Transportation System and separately operated Solely Controlled Affili-
ated Companies (excluding S.P. R.R. Co. of Mexico) amounted to a net income of $3,647,045 for the month and
$10,818,396 for the period. Figures herein given explude results of S.P. R.R. Co. of Mexico for the reason
that policy was adopted January 1, 1940 of making no further advances to that company, it being required to
conduct its operations entirely within its own resources."
d Deficit. U.S. GOVERNMENT PRINTING OFFICE:1942-0-200902





Ir 1S e-~. .3f:


UNIVERSITY OF FLORIDA

3Ill llll 1 1111126 II I Illll 111llll llI 1
3 1262 08851 1273


Subject to revision


INTERSTATE COMMERCE COMMISSION
BUREAU OF STATISTICS


Statement No M-12I
APRUL, 1942


UNIV. OF FL LIB.




U.S. DEPOS1TORY


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

Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of April For the four months of For the month of April For the tour months'of
1942 1941 1942 1941 1942 1941 1942 1941
1. Net railway operating income...........--------- -- -------------- 102,034,442 52,074,736 $324,749,827 $252,401,447 $79,205,249 $41,518,014 *251,223,245 $209,771,255
2. Other income ------------------------------------------- 11,602,227 10,666,070 46,587,385 ,44797,828 10,705,214 9,761,942 43,355,625 41,566,292
3. Total income .--- ----------------------------------113,636,669 62,74o,806 371,337,212 297,199,275 89,910,463 51,279,956 29,578,870 251,337,547
4. Miscellaneous deductions from income -------------------- 2,658,936 2,21,693 10,121,039 9,1,11 2,02,319 1,867,731 9,022,277 8,247,69
5. Income available for fixed charges -------------. 110,977,733 60,521,11 61,216,173 287681,44 87,508,144 49,412,25 285,556,593 243,089,868
6. Fixed charges:
6-01. Rent for leased roads and equipment. 13,722,032 13,045,373 0,605,782 50,489,004 12,874,038 12,239,492 51,411,366 47,680,544
6-02. Interest deductionsi/ .....1.47--7- 7-87 37,030 626 38,50 8,9 296 153,8192 9 26,7 3,787 101,267147 107,194,028
6-03. Other deductions -------. -------------------,8 118,075 46,927 474,14262 87,785 351,372 352,386
6-04. Total fixed charges-------- 50,866,575 51,672,43 -.219,005 204,781,-- 38,3102,449 ,9,101,064 153,030,485 155,226,958
7. Income after fixed charges -- ----- 60,111,158 88 6 79978 84168 82 89920 905695 0,311161 132,526,108 87,862,910
8. Contingent charges ---- -. -------------------- 22211456 1,550,26 8,;77,236 6,155,789 1459,482 788,282 59349 3,107,89
9. Net income -----------------------------.-------- 57,889,702 7,298,423 449,419,932 76743,831 47,76,213 9,522,879 12996,767 84755
10. Depreciation (Way and structures and Equipment).-- 20,744,317 17,898,712 77,029,654 71,127,469 17,137,173 14,771,056 64,039,857 58,613,547
11. Amortitation of Defense Projeots--------- ------- 6,278,596 19,648,825 5,919,911 17,940,013 -
12. Federal income taxes------ ----------- ------------------ 52,612,470 7,104,766 139,007,807 33,236,438 49,749,254 6,760,780 131,950,902 32,587,878
13. Dividend appropriations:
13-01. On common stock- .------------------- 270,000 2,306,668 19,522,803 26,281,636 270,000 2,306,668 19,522,803 26,281,636
13-02. On preferred stock ..----------- 77------------------------------- 7 8,185 764,781 5,933,278 5,209,076 778,15 764,781 5933,27 5,209,76
Ratio of income to fixed chargesV/ (Item 5-6-04) -- 2.18 1.17 1.78 1.40 .28. 1.26 1.87 1.57
All Class I Railways 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 April Balanee at end of April
1942 1941 1942 1941
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) ---. $464.745,682 *560.946.071 $447.826,976 510.599,615 Number of5Amou Number ofbe
C report Amount reports Amount
21. Cash----------- .....---------------------------.-------------------------------- $799887,77 $671,196.5214,985.reports reports
22. Temporary cash investments 1----------------------- -- -----------------------135 ,227 71,45",66 A12,500,924 64,245,581
23. Special deposits ----------------------------- 55413? 1233,657 l09,-362--414 98, 9 April 19942 108 *59,34, 21 1,8414474
24. Loans and bills receivable ...... ------ --------- 49 17142 19 4 7 April 19 41 75 17,01, 4 10,02,931
. Traffic and car-service balances-Dr .--....... ------ 3 9 26910,949 32, 214 4 4 month 1942 102 157,38189 27 761757
26. Net balance receivable from agents and conductors ,258 4,827,53 881 65524 4 months 1941 87 99,359,028 42 22,615,197
27. Miscellaneous accounts receivable..--------..........46,387 145,47,934 12,780,37 11662812
28. Materials and supplies-------------------------------- 528,839,7564 36 7,0 28,099,990 292,112,037 NET NE- A I RAILAYS
28. Materials and supplies 31.......807, 29..12037
29. Interest and dividends receivable -. -----12,41.. 0.12.8 18 27 6 15270 692NET INCOME-ALL CLASS I RAILWAYS
30. Rents receivable ----------------------------------------- ,121,418 552 6 26,851
31. Other current assets...............................-------------------------..26527.860 6.93 5 24 307 5.23557.. MILLIONS OF DOLLAR5
32. Total current assets (items 21 to 31) -- --------- 2070,.401.551 1.492.389.598 1.O16.651.355 1.185.593.302 100
40. Funded debt maturing within 6 months 4 ------- 95.188.929 95.583.395 79.379.64 *72.40.2 8 0
41. Loans and bills payable 5_/. .................,7?.32 *7Z4.5..0.48 .-'.-236 *21,503,496
42. Traffic and car-service balances-Cr---..-..---- ---; 4 88.7 6;1-------- 6 .....3... 60
c3. Audited accounts and wages payable------------------------------ 310 9,848 246,7;9,37 4 191e,7,62 40
44. Miscellaneous accounts payable .......................------.... ------------............. -- 49 71 40
45. Interest matured unpaid. ------------------------------- 95 44P4 R4427,31 308
46. Dividends matured unpaid.--- ---------- 2---------- 167,7 709 9 1,81551 1,357,510 20
47. Unmatured interest accrued .---- ---------------- 78 80 64 6522 9-----------
48. Unmatured dividends declared.............------------------------- 1 0 ......................... '10 1-
49. Unmatured rents accrued...............--------------------..............................---------- 26, 18 9 4522 5
50. Accrued tax liability- ------------------------- 248, ----------- 8 1102762
51. Other current liabilities---------........... .................................. 47 36 3 26 21 _
5:1 Total current liabilities (items 41 to 51)---- l.--- 6o.4.06 .J,5 739,459, z ,-740 643,7g3,30 -4-0
53. Analysis of accrued tax liability: 6 6 M JA
53-01. U. S. Government taxes 3,4-6,628 -139,785, 3,048,601 127,860,453 JFMAMJJAS ONDJ FMAMJJASONDJFMAMJJA5OND
3-02. Other than U. S. Government taxes ----- l,48,972 1,127,0 8,589,378 83,166,575 1940O 19141 194


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with April $123,289,561 $57,315,068 *65,974,493
6 months ended with April 237,736,852 157,906,456 79,830,396
12 months ended with April 574.326.968 282.688,782 29 638.6


3/For railways in receivership and trusteeship the ratio was as follows:
April 1942, 1.87; April 1941, .88; 4 months 1942, 1.51; 4 months 1941, .90.
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.
V/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)


NET INCOME AFTER DEPRECUIATIO AD ND T INCOME BEFORE DEPREOIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the four months of April For the four months of April
1942 1941 1942 1941


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.**0 ......................
Central R. R. of New Jersey** ................*
Chesapeake & Ohio Ry. ..........................
Chicago & Eastern Illinois R. R .............
Chicago & North Western Ry. *.................
Chicago, Burlington & Quinoy R. R. ............
Chicago Great Western Ry.....................
Chicago, Milwaukee, St. Paul & Pacific R. R.**
Chicago, Rook Island & Pacific Ry.** ..........
Chicago, St. Paul, Minneapolis & Omaha Ry.....
Delaware & Hudson R. R. .......................
Delaware, Lackawanna & Western R. R. ..........
Denver & Rio Grande Western R. R.** ...........
Duluth, Missabe & Iron Range By. ..............
Elgin, Joliet & Eastern Ry ...................'
Erie R. R. .....................................
Grand Trunk Western R. R. ....................
Great Northern RBy ............................
Gulf, Mobile & Ohio R. R. .....................
Illinois Central Re R. ........................
Lehigh Valley R. R. ............................
Long Island R. R .............................
Louisville & Nashville R. R ...................
Minneapolis, St. Paul & Sault Ste. Marie By.**
Missouri-Kansas-Texas Lines ...................
Missouri Pacific R. R. ** ...................
New York Central R. R. b/ .....................
New York, Chicago & St. Louis R 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 By.** .................
St. Louis, San Francisco & Texas Ry. ..........
St. Louis Southwestern Lines** ................
Seaboard Air Line Ry. ........................
Southern By. ....... ...................
Southern Pacific Transportation System o/ .....
Texas & Pacific By. .................
Union Pacific R. R. (including leased lines) ..
Wabash Ry. ....................................
Yazoo & Mississippi Valley R. R ..............


$420,864
12 306,113
6 ,834676
6,562,538
1,919,308
314,838
568,121
7,1o09, 5
471,'3
d 138.093
4, 124
Z4965136
1,936:51.
3,198A
d 427.750
1,463,117
954,328
1,008,500
d 221.282

3,524,749
d 689.618
699 181
2,771,784
626,648



7, 519.53
,199,569 21



1,32T 9263
8,638,686
616,195
3,55o,9g
6a:713o

3,828,830
5,390,308
15,090,987
7, 231,.68
2,698.301


63,044
a 1. .00J

d 1, 63.534
2,737,199
294,887
269,766
d 753.239
608,713
884,994
d 1.616:74

1,662 826
754:854

3,344,896


2,590,061
765,171
7,945,605
d 720.013
9,688 230
1,183,998
1,o3,637
2,630,239
d 1 014 oo


4, 4 522
6,388,684
851,324
2,302,944
482:385
97.276


#515,475
17,220.981
8 289,121
10 174,960
2,537,527
660,109
1,036,225
11,220,670
679,131
1,727,727
6,781 577
688 829
4,794 22
4,706,218
d 227.839
2,139,U53
1 7,9
1631 ,954
274 ,624
1,950,890
5,760,953
d 23. 2
015:9i
5:479,953


5,720,620
15,o 0 798
336;,705
, 246,221
9,930,172
3,90 ,204
20,056 1,69
1,634,252
2,27730
5.14,535
1,62.,232
1,867
4 666 69
8,335,459
19,938,0o30
1,806 651
10,600,615
2,612,132
2,878,431


.873.733
4 975 9;2
2,157 159


4,581,659
483,360
2,186,383
1,724,932
d 572.985
990,715
1,709,786
d 1.182.


2,892,660
1,14,616
37,517
S 869,28
5,585,821
1,487,601
d 68.651
50, 95
d 1 .924322

533,485
12,80,019
3 142,7
1874,3924
o10:56:504
416,808
19,059,368
1,950,205
2,300,619
3,641,890

d 10.1
1.426bJ72
5* 25,432
9,o07,10

1,205,89
277,775


* Report of receiver or receivers.
** Report of trustee or trustees.
SIncludes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
Includes Boston & Albany, lessor to New York Central R. R.
l Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: "Figures reported for Southern Pacifio Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Oper-
ations for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net loss of
$1,668 for the month and $378,770 for the period. These results include $195,577 for the month and $782,308 for
the period representing interest on bonds of such companies owned by Southern Pacific Company not taken into
income by S.PJo. and therefore not included in the 1942 income results for the System. The combined results
for 1942 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Compa-
nies (excluding S.P. R.R. Co. of Mexico) amounted to a net income of $4,676,129 for the month and $15,494,525
for the period. Figures herein given exclude results of S.P. R.R. Co. of Mexico for the reason that policy was
adopted January 1 1940 of making no further advances to that company, it being required to conduct its operations
entirely within its own resources.*
d Deficit.U. S. GOVERNMENT PRINTING OFFICE :1942-0-200902





Subject to ra ion

Subject to revision


UNIVERSITY OF FLORIDA

3I H 122E85[181 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1281 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


fr/y


Statement No. M-125
MAY 1942


UNIV. OF FL LIB.




U.S. DEPOCMTOAY


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

Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All-Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of May For the five months of For the month of May For the five months of
1942 1941 1942 1941 1942 1941 1942 1941
1. Net railway operating income..........---------------------- $109,672,990 88,1014,434 *432,969,068 $340,505,880 $84,847,972 *75,420,319 *334,617,468 $285,191,573
2. Other income ..........------------------- 1 ,239 11,643,920 58,062,624 56,41,751 10,591,589 10,900,823 5394,214 52,67,116
3. Total income.......... 121, ,229 99,748.354 4- 91,031,692 396,947,631 95,39,561 86,321,.42 388,56 ,682 337,658,689
4. Miscellaneous deductions from income. 3,211,205 2,283,064 13.332,245 11,801,195 1,998,753 1.,961,096 11,021,030 10,208,775
5. Income available for fixed charges 117,937,024 97,465,290 477,699,447 385,146,436 93, ,808 84,360,046 377,543,652 327,449,914
6. Fixed charges:
6-01. Rent for leased roads and equipment --- ---- 14,778,718 13,861,231 69,384,501 64,350,235 13,878,458 12,953,096 65,289,824 60,633,640
6-02. Interest deductions -....--.....---------- 37,033,310 38,797,143 185,176,605 192,615,517 25,202,303 27,009,722 126,470,050 134,203,750
6-03. Other deductions 117,601 119,163 587,528 593,308 88,114 88,893 439,486 41,279
6-04. Total fixed charges --------- 51,929,629 52,777,537 255,18,634 257,559,060 39,168,875 40,o51,711 192,199,3 195.278,669
7. Income after fixed charges-- ----- 66,007,395 44,687,753 222,550,813 127,587,376 54,271,933 44,308,335 185.3 1,292 132,171,245
8. Contingent charges---------. 2, 39,112 1,547,276 11,012,285 7,703,065 1277,138 785,302 7,202,416 3,893,196
9. Net incomeS/----- -------------- 63,668,283 43,140,477 211,538,528 119,88,311 52,694,795 43,523,033 178,141,876 128,278,049
10. Depreciation (Way and structures and Equipment) ---..- 20,21,607 18,073,533 97,243,260 89,201,002 16,625,341 14,94o,o63 80,665,198 73,553,611
11. Aaortization of Defense Projects------------...------------- 6,754,326 26,417,72 6,78,589 24,333,224
12. Federal income taxes----------- ---------. 64,39,800 14,772,502 205,025,169 48,019,626 60,604,871 14,373,818 194,263,335 46,972,382
13. Dividend appropriations:
13-01. On common stock--------- ------------------- --1 36,901 19.134,677 4,8,- 4.4l6.313 11,3.,901 19,134,67 4149 4,416.13
13-02. On preferred stock .--.--------- 6.674,321 6,02,59- l607,599 l,231-73 6,67321 6,022,597 12,607,599 11,231,673
Ratio of income to fixed charges/ (Item 5+6-04).. 2.27 1.85 1.87 1.50 2.39 2.11 1.96 1.68
SClass 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 Nay Balance at end of May
1942 1941 1942 1941
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) ---- 474,049.083 $561.099.759 $56.149,397 $610,730,949 Number of Amount Number of Amount
reports1reports
21. Cash ....... ...-............... $817,914,286 $712,402,038 $* 15,014,886 *568,021,498 reports- -------re$rts--------
22. Temporary cash investments ----.------------------- 177,204,507 92,483,683 14,123,555 68,095,980 May ...... 1942 109 *65,139.453 20 *1,471,170
23. Special deposits ---------------------------------------138,964,351 103,726,215 9639508 81,975,754 ay...... 1941 93 45,829,123 36 3,688,646
24. Loans and bills receivable-..............---..------------------- 1,027,931 1412 914,573 1,151,144 5 month 1942 108 220,1 823 21 8,615,295
25. Traffic and car-service balances-Dr -------------------- 39,804,777 29,049,17 33365,23 26,525,297 months 1941 91 141,664,321 38 21,780,010
26. Net balance receivable from agents and conductors 109,235,564 67,170,403 91,.94,886 54,191,099
27. Miscellaneous accounts receivable --.. 288,703,325 143,263,989 30,72,648 110,961,92 -
28. Materials and supplies----------------533,9073 373,492,070 431,382,52 296,55,430 T 51 37 9M ALL20 29655CL30A I
29, Interest and dividends receivable--------------- 23,364,126 20,795,559 '21,415,982 18,101,956 NET INCOME ALL CLAS I AILWAYS
30. Rents receivable .........................----------- 1,00,882 1,33,538 1,061,70 1,044,137
31. Other current assets ........... .... 27g.818.070 7.24.27 26.7. 8 5.94.g8 ILLIONS OF DOL-2ARS
32. Total current assets (items 21 to 31) ---..--. 2.159.147.992 1.552.411.059 1.695.132.909 1.232.667.055- 00 C
40, Funded debt maturing within 6 months/ -------- 75,503.,920 $72.029,386 59,957,692 $52,668,712 80 ---
41. Loans and bills payable /----------------------------- 32,077,555 Z77,199,336 '2,490,686 $21,2147,781 60
42. Traffic and car-service balances-Cr.- ----- 81,098,266 48,964,299 58,518,479 35,275,011 I
4 Audited accounts and wages payable --. -----. 349,141,098 265,325,216 28,338,016 214,280,541
44. Miscellaneous accounts payable -------------.- 3,13,000 49, ,9 ,977,328 37,882.406 40 -
4 Interest matured unpaid----------------------- ,6--0,24q 31,418,188 37 ,687,243 27.956,1416
Dividends matured unpaid---------------------4, ,21 1,632,991 ,554,952 1,280,6 82 2 0 \ -
47. Unmatured interest accrued...........----------------- ------------ 87,471,324 8782,199 72,264,777 7,2201,492 -
48. Unmatured dividends declared. ---- --- ..----- 38,191,385 36,226,925 38,191,38 36,26,925
49. Unmatured rents accrued -- --------- ----------------------------- 29,862,973 30,582,708 27,71 ,30 28, 53,931 --
50. Accrued tax liability.---...................------------ 502,553,540 242,014,382 ,66,856 208,3,001
51. Other current liabilities ....... ......---------------- 6418.667 36.770.574 46.682.377 25.62.953 -.2.0 .
-52. Total current liabilities iteme 41 to 51)- 1,296,495,271 907,779397 1,078,291,803 708'193,342 4-
53. Analysis of accrued tax liability:
53-1.U. S Government taxes----.......----.--------.... -----.. 384,138,352 126,635,028 367,962,698 119,963,281 JFMAMJJASONDJ FMAMJJASONDJFMAMJJASOND
53-02. Other than U. S. Government taxes------------- 18,415,i88 115,379,354 91,904,158 88,382,720 190 19 194


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


3/For railways in receivership and trusteeship the ratio was as follows:
May 1942, 1.92; May 1941, 1.03; 5 months 1942, 1.59; 5 months 1941, .93.
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.











INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS



NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

NET INCOME AFTER DEPRECIATION AND NET INCOME BEFORE DEPRECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway '
For the five months of May For the five months of May

_1942 7 1941 1942 1941


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, Rook Island & Pacific Ry.** .........
Chicago, St. Paul, Minneapolis & Omaha Ry ...
Delaware & Hudson R. R. ......................
Delaware, Lackawanna & Western R. R. .........
Denver & Rio Grande Western R. R.** ........
Duluth, Missabe & Iron Range Ry. ............
Elgin, Joliet & Eastern Ry. ..................
Erie R. R ....................... .............
Grand Trunk Western R. R. ....................
Great Northern Ry. ...........................
Gulf, Mobile and Ohio R. R. ..................
Illinois Central 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. ............................
Pittsburg & 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 o/.....
Texas & Pacific Ry. ..........................
Union Pacific R. R. (including leased lines) .
Wabash Ry. ..................................
Yazoo & Mississippi Valley R. R. .............


$64o,575
16,774,760
8,938,426
9,410,407
2,710,313
609,981
1,006,O42
9,924,103
645,9:1
595,567
5,658,165
574.493
2,137,937
3,204,246
d 441,.230
1,980,808
1,554,786
1,533,093
855,700
839,025
4,783,213

1,06 4,784
4,343,252
788,748

d 2. 240.726

6,725,841
11,351,125
3,228,271
5,485,605
7,964,377
1,977,477
15,4 9888
872,673
1,6952797
4,:59:814
1,246,309
84,155
2,254,423
6,119,210
8,049,818
20,002,822
1,9:14,61
9,615,606
1, 971,095
3,256,877


d $241.0o55
2,34o,633
o719,977
5,885,617
2,488,930
161,318
d 902.149
11,1640
684,942
d 1.396.059
2,622,359
481,745

d 722,v9
1,016,941
1,342,909
d 2.133.49
1g212,177
2,386,009
2,538,543
1,012,274
1,009,337
749,322
4,200,340
1,243,141
d 613.214
d 2,808.792

d 1.044.139
3,%4,835
1,352,397
11,093,o051


1, 94,982
2,207,793
3,583,937
d 1.191.624

498,729
5,772,223
9,652,089
1,104,211
3,368,660
633,761
271,526


*758,828
22,976,565
10,851,532
13,935,987
3,500,725
1,068,222
1,591,896
14,266,o88
905,917
2,925,955
8,497,675
815,885
5,912,464
5,066,363
d 191.478
2,832,187
2,838,0o40
2,344,974
1,475,575
2, 054,90
7,588,470
d 179.712
1,63,7.72
7,783,801
2,340,628
390,313
7,818,466


8,702,092
20,990,848
4,170,468
7,268,531
12,653,258
5,451,444
29,946,343
2,145.226
3,030,615
6,605,279
2,508,706
84,155
2,549,978
7,168,439
11,795,640
26,569,999
2,461,232
13,893,682
3,272,021
3,484,507


d S127.09'
10,402,336
5,705,581
9,013,596
3,080,888
521,818
d 352.500
14,745324
61 4,9624
4,933,886
717,609
2,490,310
2,398,469
d 498,425
1,494,420
2,373,810
d 1.586.653
1 5;9 ,71
2,99 291
4,0oo0,044
1,499,164
2,810,679
1,103,346
6,994,878
2,077,533
37,935
7,525,382
d 2.27.477

833,175
16,557,897
4,107,334
2,737,255
13,854,505
1,179,876
25,777,030
2,457,932
3,208,752
4,850,327
61,298
d 17.681
1,784 916
1,512,612
7,326,662
13,012,429
1,632,281
6,758,599
1,538,229
99,358


* Report of receiver or receivers.
** Report of trustee or trustees.
41 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 for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Opera-
tions for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net income of
$55,461 for the month and a net loss of $323,309 for the period. These results include $195,552 for the month
and $977,860 for the period representing interest on bonds of such companies owned by Southern Pacific Company
not taken into income by SP Coo and therefore, not included in the 1942 income results for the System. The oom.
bined results for 1942 for Southern Pacific Transportation System and separately operated Solely Controlled Affil-
iated Companies (excluding SP BR Co. of Mexico) amounted to a net income of $5,162,849 for the month and
$20,657,374 for the period. Figures herein given exclude results of SP BR Co. of Mexico for the reason that
policy was adopted January 1, 1940 of making no further advances to that company, it being required to conduct
its operations entirely within its own resources.
d Deficit
US. GOVERNMENT PRINTING OFFICE 1942-0-475222






-r c I tt


Si ', ss


Subject to revision


UNIVERSITY OF FLORIDA
II I I 1II II 1111111 IIll ll 1111 III l l I III II I I
3 1262 08851 1299 INTERSTATE COMMERCE COMMISSION
BUREAU O TRANSPORT OTCWCt lSD AND STAMTSTICS
SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES


Statement No. M-125
JUNE, 1942


UNIV.OF-FL LIS.




U.S. DEPO8iTORY


Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items or the meoth of June For the ix months of For the month of June for the six months of
~~~~~_____~~~~~______1942 1941 1942 1941 1942 1941 1942 1941.
1. Net railway operating income-------------................................................ *118,70,960 ,6,622 ,790 ,8,6 23
2. Other income-- ....--------- --... ----..... .... ---------... 1 :. 62 10,:'----- 7;63-48- #1,98,2,776 1S 4.o 936 2 13,178,.66 6 '6
3. Total income-------- --- ----------------------l31822 108857152 6j,10 505804781 105,036,136 93,557,528 6493.557,141 1431,2
4. Miscellaneous deductions from income........--------------------- 2,430,222 2,190,361 15T762.468 13,991,557 2,151,436 1,50,506 g,172,466 12,15,281
5. Income available for fixed charges ----------------.132,20l,600 106,666 91 609857,639 491,813,224 102,884,7 91,607,022 48,384,944 419,056,935
6. Fixed charges:
6-01. Rent for leased roads and equipment-......... 1-,108,77 13,2,5%.1 82, ,2 7,552 7: 5 1,219,81 101:5, ,lO 1 5 73,08.70
6-02. Interest deductions!/ .--------------------------------------..--- 3: 9 222:l2, 43 2305; 25,218,M 2,7A6,1 16907,9
6-03. Other deductions .--.-------------- ---8--i 119 5 705, 712,6 88644 0 86 260052
6-04. Total fixed charges-- ---------------------.. 52,179,847 5.1,7718290 25307 0 6 3 26965 ,26, 2
7. Income after fixed charges------------------------- 00 02.75. 5498914 61 30252959 82,42.4 7, 73 1,62
8. Contingent charges .---------...............-----------------------231 3343 3 9, 250,l-5 --1, ,234 754,676 5,771,650 ,6677,a2
9. Net income/ ---- 77--905-45 53-3-;3- a7----1 666 173,231,619 61:7,,501 50,53.,352 239,6,971 179,131,.00
10. Depreciation (Way and structures and Equipment).--- 20,102,752 18,0760842 117,3 46015 107,277,846 16,474,522 14,947,392 97,139,722 8,501,005
11. Amortization of Defense Projects 7,213,897 5 66 3, 668 5,616 6,78966 5,16 31,122989 5,616
12. Federal income taxes-- ------------------------------ 72,533,701 19,79053 27856502 67,810,161 68,7,4 190 409 24, 004,251 66,008,791
13. Dividend appropriations:
1i1. On common stock-------- -----------9,060,65-4 7,66-,- 50909,609 53,075,558 9,060,614 7,669,245 50,909,609 53
2. On preferred stock--- 69-5,290 13302,97 11,306,673 695,5 75,000 13,302,897 11,306,673
Ratio of income to fixed charges/ (Item 5+6-04)..- 2.53 2.06 1.98 1.59 2.60 2.29 2.07 1.78
All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Reeivershi orTruseeshANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/
Selected Asset and Liability Items Balance at end of June Balance at end of June
1942 1941 1942 1941
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707)--------- 478.724.241 58.646.744 2460.8g2.441 8 Oa.-17.6 Number of Amount Number of Amount
S cash.. __ .-...------.....-. --...-.-. -.. 8 L,o035,186 $736,013,179 $619,326,239 *571,452.788reports reports
22. Temporary cash investments......----------- -- ------- --1-6 TT,-ig6o- ,7- 4 --7,- Jun-e .. iV 7, 213 i I -41,080 66-r
Special deposits- .------- ---------------- --- 154,686,100 139,332511 71 Jun-e ... 1912 10- 5,2 7129 28 2 09, 818
24. Loans and bills receivable.....----- ..... ..... 1,038 9 --31,185 2 17 Jiunethe -4.42 112 ...8,i0,0 17 919215, 38
25. Traffic and car-service balances-Dr-..------ ...... 165 2-------- 00- -,-- 3 6 months -1 I 91 194123,668 38 20,89l2,a
2. Net balance receivable from agents and conductors .- 117,-61 ,87 187,76 6 59;9179 6 oI236 3
27. Miscellaneous accounts receivable .-0------------------------11'61 ON. 308, ,69 1 2,7, 76
28. Materials and supplies------------------- .. .l..4., 379,04,979 4? Q3 E 4 301,975,416 N INCOM E-ALL CiASS TRALWAYV
29. Interest and dividends receivable.---------------------- 9813606 16 52 8742 14 8 NET INCOM ,E-ALL CLASS I RAI LWAYS
Rents receivable ..--- ------- --------------- 1,32,24 1,26,31 1,0-,772 ., SL0.O160
31. Other current assets------------------------ 9 7 77 67 7 872 6-81- MILLIONS OFDOLLARS
32. Total current assets (items 21 to 31) ----- 2.205.567.948 1.616.194.738 1.Z i.060.717 1,285.840.135 100 ---------
40. Funded debt maturing within 6 months /--------..---------$85981.91 379.792.889 20.831.215 54.790954 ---------
41. Loans and bills payable -----........-----........................----....-.... 4,264,42 72, 6
42. Traffic and car-service balances-Cr ------------ 4 6---------T86,8 ,52 4 ,40 --1411--
43. Audited accounts and wages payable-.....---.... --------..................... 302, ,2 8 12 204 14
45. Interest matured unpaid------------...............---- .------ ----------- 4j 1 1,.9 ,6 5 21 /
46. Dividends matured unpaid -- --------------..-..----.------------- ,0. I : 0 --------,:A I
47. Unmatured interest accrued ...--.--..... ..-.... 691, 65,03 .- -'7- .,9'626 -
48. Unmatured dividends declared---- ------------------------ 310:1:1,711 7'300I 6 00
49. Unmatured rents accrued ..---------.--------------------------- 16,2,57 17,07.,37 #14,559,955 15,352,179 0
50. Accrued tax liability- ---- ------------------- 52,----------- 129 27a,7,0 6 36 117 g 27, .052
51. Other current liabilities --------------------' 7................675.976 2- ----------------------O62 i
52. Total current liabilities (items 41 to 51)- 1,315071,853 926.108.948 1.099.195.368 725.874.695 .40 ---------
53. Analysis of accrued tax liability: MA ASOD MAM AOND MAM SOND
5-012U. S. Govern tement taxes .--2, ------------------------2 8 JF 94.0 194A 194MJJASONDJFMAMJJASONDJFMAJJASOD
-02. Other than U. S. Government taxes ...............----- 050 K9o272o;0 93o4 0439 1O41 1942
Rpr12acruls icldig3heaun in d


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with June $194,0470,21 $103,786,209 *90,261,512
6 months ended with June 2189 5,6666 132 1619 1 5, 04,047M
12 months ended with June 67 4 14 86 W 93050


./For railways in receivership and trusteeship the ratio was as follows:
June 194 2.2.2; June 1941, 1.28; 6 months 1942, 1.71; 6 months 1941, .98.
44/Inoludes parents 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.
j/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 TRANSPORT ECONOMICS AND STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


NET INCOME AFTER DEPRECIATION AND NET INCOME BEFORE DEPRECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the six months of For the six months of
1942 1941 1942 1941


Alton R. R. ...................................
Atchison, Topeka &0anta Fe Ry. System a/ .....
Atlantic Coast Lin 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 & Quinoy 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 Grand Western R. R.** ...........
Duluth, Missabe & Iron Range Ry. ...............
Elgin, Joliet & Eastern Ry. ...................
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 Pacifi oRy. .........................
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 o/ .....
Texas & Pacific Ry. .......... ......
Union Pacific R. R. (including leased lines) ..
Wabash Ry. ...................................
Yazoo & Mississippi Valley R. R. ...............


$846,089
22,004,904
10,089,233
12,559,527
3,625,756


12,086:954
860,1C
2,154.511


2,403,205
2,009,819
2,543,042
1,75,.185
1,014,046
6,190,491

1, %18,263
4,914,275


10,681,782
16,616,907
3,902,260
7,371,521
9.524,668
2,834,936
25, 437,815
1,169,547
1,968,426
5,704,206
2,225,331
187,853
2,921,175
8,572,881
11,287,600
25,740,227
2,677,666
1:403,,7:7
4,283,783


d t123,391
7701,498
4884,512
8,869,820
3,225,150
301,800
d 506.205
15,5o2, 6b
787,616
a 571.395


1,525,290
1,972.794
d 2.332.628
3763(b05
3,006,274
3,416,404.
1,330,3 40
3,184, 98
950,290
4,727,810
1,826,166
d 56126
7,.44b b66
d 3,0483.65
d 964,918
d 293.505
11,858,5 0
4:,312,665
2,143,607
14,266,976
252,654
20, 20,045
1, 830,754
2,853,712
4, 48 ,43
4d 1.113.246
1,5b5,.47-
571.1414
7,656,579
14,246,058
1,364,117
5,782,465
897,331
523,217


$987,999
29.541,767
12,451,478
17,998:736

1,603,92
2,047,9N4
17,364,896
1,172,274
4,957,636
10o,524,755
961,573
7,095,902
7,127,932
d 122.695
3,433,581
3,735,241
3543, 150
2,498,881
2,49,469
9,565.490o
102,171
9,664,016
1,907,965
9,045,115
3,231,922
622 ,842
9, 14, 24
d 1.79.532
1, 41,308
13,105,313
28:44:_7
5,070,35
9,527,212
15,373,626
7,197,,o56
42,864,523
2,696,930O
30,569922
8,132,122
3,741,103
187,853
3,277,288
9,838,155
15,890,634
34,029,415
3,332.,935
19,556,175
3,986,621
4,559,224.


$13,505
13,793,472
6,071,921
12,627,211
3,935,285
734,909
153,107
19,789,539
1,096,662
1,841,027
5,754,219
923,591
2,960,570
3,358,972
d 505,829
2,098,092
3,209,488
d 1.673.624
4,204,609
3,623,291
5,270,422
1,914,526
5,353,939
1,376,077
8,077,140
2,831,122
209,677
9,678,376
d 2.409.689
d 388,059
1,959,177
20,9,046
5,1 5,541
s, :087
17,578,921
2,098,345
34,539,646
2,992,722
4,o59,o63
6,003,105
389,942
d 27.750
1,789 750
9,54,272
18,296,981
1.998,275
9:86 554
1,982,742
796,:084


I I. S &


Report of receiver or receivers.
Report of trustee or trustees.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
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 for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Opera-
tions for 1942 f-` parately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroa company of Mexico), not included in income results for the System, resulted in a net income of
$236 802 for the month and a net loss of $86,507 for the period. These results include $195,553 for the month
and i1,173,413 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 1942 income results for the System. The
combined results for 1942 for Southern Pacific Transportation System and separately operated Solely Controlled
Affiliated Companies (excluding SPRR Co. of Mexico) amounted to a net income of $6,169,759 for the month and
$26,827,133 for the period. Figures herein given exclude results of SPRR Co. of Mexico for the reason that
policy was adopted January 1, 1940 of making no further advances to that company, it being required to conduct
its operations entirely within its own resources."
Deficit.
U. & GOVERNMENT PRINTING OFFICE : 1942-0-475222


*
**




rClxL. 349 q? 1


Subject to reision


UNIV. OF FL LIB.
U.. DEPTO



U.S. DEPOMTORY


UNIVERSITY OF FLORIDA
321111 011 I NT ER STATE COM M & CE COMMIT SSION
3 1262 08851 1307 BURuAU OF TRANSPORTCOOMCS AND STATISTCS


Statement No. M-125
JULY lM


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

Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All Classf RailWays Class I Railways Not in
a-wy Receivership or Trusteeship
Income Items
Income Items For the month of July For the seven months of For the month of July For the seven months of
~~~____________~~____1942 1941 1942 1941 1942 1941 1942 1941
1. Net railway operating income ..-- ----- ...... ----------- *133,1,367 16,38,899 $$6 512,253 54O.203,907 5100,610,147 l 87,508,836 522,796,003 $451,879,070
2. Other income s ......-...-. ............ 16,,1--68,3 1 7,25 88, 415 86,712,200 13,252,202 13,820,882 ,:8,859 80 ,666, 6
3. Total income .................... .... -147,169,783 121,1Il32 769,726,668 626,916,107 113,862,673 101,329,718 6O14, 36,862 532,4545,935
4. Miscellaneous deductions from income-...............................- .2,112.988 2,335,475 17,528,920 16,327,032 1,905,550 2,0, 0 1 1,483 114,214,819
6. Fixed charges:
6-01. Rent for leased roads and equipment--------------................ 16,300,644 14,219,918l 100,793,931 I,72,63 1 1,316,177 13,361,080 94,824,882 9 ,9169,
6-02. Interest deductions1/-............................................. 36,776,738 38,82,761 2,90,2, 289,802,20 2,061',933 27,072,36 176,o5,922 17 16
6-03. Other deductions....-----------. i------------- ---------------------- 117,26 7171,2123,07507 7, ,4 31 ,0 36,1 3;
6-04. Total fixed charges- ----------------------- 53,194,808 13.2140 g983260 75 830,4 8 1 5 7 449 14 ,70 97, 372
7. Income after fixed charges ......................... 91,861,98 956 6 8,117,90 71,6,6 5792, 1000
8. Contingent charges....................................................................-2,230,12 1,547,287 15,7,6618 1,798,002 1,468',153 75,3114 10,383,802 2
9. Net income/ 2-.------------- -- -------.... ..... --... -------------- 89,631,61 64,087,669 375,956,8140 237,319,288 70,067,915 58,007,:427 307,094,198 237,138,827

11. Amortization of defense projects --------------------------- 7401:9 22,571 33,5 28,187 6,945,775 22 71 38,s :s28,1
12. Federal income taxes ---...-----------......... ...............-- 87,619,773 24,161,407 368,490,434 92,,806,184 81,589,91 2,'3 :696 34a,899,23 90,249,103
13. Dividend appropriations:
13-01. On common stock...............................................-.- 14,875,857 6,119,168 55,785,3466 59,201,720 6 1,875,857 6,119,168 55,785,166 59,20,1,726
13-02. On preferred stock ................................................. 780,978 761,781 11,083,875 12,071,:54 780,97 76Z,781 11,083,875 12,071,51
Ratio of income to fixed charges/ (Item 5+6-04). 2.73 2.24 2.09 1.68 2.77 2.45 2.17 1.88

All Class I Railways Class I Railways Not in
AlassIy___________ Receivership or Trusteeship
Selected Asset and Liability Items ANALYSIS OF NET INCO,-ALL CLASS I RAILWAYS&/
Balance at end of July Balance at end of tJuly
___________________________________1942 1914 ),48 19141
20 Investments in stocks, bonds, etc., other than those Railwys Reporting a Rail s Reporting a
of affiliated companies (Total, Account 707)..--------- $490,500,898 558,281,940 $ 46,364,877 508,135,418 Period net income Net Deficit
-- ---------------------------------------ber of --b er of 0
l......... ... ..........6... .................. g 7 .g 62 0 g- r p rt
22 Temporary cash investments-------------............-------------2--.... .. 255, 566659 ,336,350 2 1 X195 78,7148 76 63
23. Special deposits.- ----------------------- -----.-....--.-- ------ o 1910,715,0 ,- 022 139,35,0044 July ...1942 1133 90,466,5l 16 534,680
24. Loans and bills receivable .-- -------------------------... 0214,84 1223 983 3 July ... 1941 109 5 641 29 20 1,3,860
25. Traffic and car-service balances-Dr...................--------------------- 41.1921 3,32. th 12 11 3 65675 17 13
26. .Net balance receivable from agents and conductors ...... l I,,771 73 21 703 10,90 59,33762a 7 months l94 196 257305,75 33 1996
27. Miscellaneous accounts receivable------__------------------------12 7 26A 1 6
28. Materials and supplies-------------------------.: ....... ,93,181 386581 178 1o3, 308, 6
30. Raeracianb sl es-....------------ --------------------- 31 8 2' 1 4 -- 3 P
29. Interest and dividends receivable--- ------------------ 1,0o2,68 1 O ,70.,7 16, 12,07, 7 NET INCOME-ALL CLASS I RAILWAYS
31. Oethercurentvassets-----------------------------------------------------------------.0? 2 ii 77~
31. Other current assets------- ---- --0----- ---------...... .. 7. MILLIONS OFOOLLARS
3a Total current assets (items 21 to 31)....--------- 2.327.177.963 1.714.734.g81g 1.84.991,84 1.37.95.96 100 5
40. Funded debt maturing within 6 months/ ...._-----...... 103.953.232 $71.038;671 *7.278.993 150.631.763 S
41 Loans and bills payable ......................................$32,790,600 $71,360,276 4,426,950 $15,496.206 o
42 Traffic and car-service balances-Cr... -----........... 90,120 83 586 30 6 ,007,257 42,0234 60
4 Audited accounts and wages payable- --......---- ... 30 ,S .208 2 9. 2 24 9876 ,4 211,1 82
41 Miscellaneous accounts payable..--.......------------------- 64,614[21111.... ,--..... .6. ; ; 40
Interest matured unpaid....... ........ ............ - 4, l ;A ------ 22'B-S / ---
Dividends matured unpaid ---------6---... ..-..------ -.--. S 9 7 2-, 6 7,321,:iI 1
47. Unmatured interest accrued------ ---- 7 7 7 6 0-----------7 a 1 6 4 866
14 Unmatured dividends declared--- -....... -- ...-................. '9,-'4 6gl '-7,;6go, -----------
49 Unmatured rents accrued---------.....---------.--------..... ---------.......18... ,118,87 1608 01 6 16 7 0
50 Accrued tax liability...----......-....... 90,921, 35,-----------------------------6690,921, ,
51 Other current liabilities--- ....... .. 55-g.-)9 40g-417 600.7-5 28'.311,179 0i o
5P. Total current liabilities (items 41 to 51 ) ..-.. 1,380.445,86 939.160.130 1.15.770, 868 73531597 -40
53. Analysis of accrued-tax liability: '
-l'. U. S. Government taxes.---------- ----------------- M5'36'.3, d .10,01. :9 9S .J' 176,326,8 JFMAMJJASONOJFMAMJJASONDJFMAMJJASONO
53-z,;other than U. S. Government taxes ................ 137,7 5 13 5? ii 6,5 10g,g20,9 6 1940 1441 1,42
1P10.7950,5,72I. 194.0 I4.1941,


I/Represents accruals, including the amount in default.
R/For all Class I Steam'Railways the net income was as follows:
Period 194 1941- Increase
3 months ended with July $226,36,908 160,575,457 (65,961.451
6 months ended with July 49,26,9 217,90,525 131,935
12 months ended with July 64,,288,419 414,957,732 225,330,687


A/For railways in receivership and trusteeship the ratio was as follows:
July It2, 2.59; July 19 1 1.54; 7 months 1942, 1.84; 7 months 1941, 1.06.
Includes payments of principal of long-term debt (other than long-term debt in
default) which will become due within six months after 0los0 of month of report.
Includes obligations which mature not more than 2 years after date of issue.
t/Excludes reports of 3 roads whose net income (or deficit) was absorbed by
the controlling company.












INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


NET INCOME AFTER DEPRECIATION AND NET INCOME BEFORE DEPRECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the seven months of For the seven months of
__1942 1941 1942 1941


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 & Quinoy R. R ............
Chicago Great Western Ry......................
Chicago, Milwaukee, St. Paul & Pacific R. R.**
Chicago, Rook Island & Pacific Ry.** ..........
Chicago, St. Paul, Minneapolis & Omaha Ry ....
Delaware & Hudson R. R. ........................
Delaware, Lackawanna & Western R. R. ..........
Denver & Rio Grande Western R. R.** ...........
Duluth, Missabe & Iron Range Ry. ...........
Elgin, Joliet & Eastern Ry....................
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 B. 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 o/ .....
Texas & Pacific Ry. ..................
Union Pacific R. R. (including leased lines) *.
Wabash Ry. ............ ..............,.........
Yazoo & Mississippi Valley R. R. ...........


$1,276,743
30,033,189
12,006,459
4.416,675
1,592,091
1,722,898
1415 725
1,147,422
3,197,4-61
9,.86,911
813, 71
3,113,678
8,470,214
d 225.934
2,715,304
2,464,070
3,867,275
2:693,185
1,180,586
7,472,737

1794 52
5,591, 693
2,151,803
S 143,450
6,817,219
d 2 803.567

14,942,539
22,251,728
4 57 868
9,3 ,842
11,128:240O
4,211,807
33, 96176
1, 8 ,422
2,246,510
7,112,575
3,387,351
340,442
35.840,509
11,029,06
12,855,366
32,249,105
3,534,003
19,589,715
262,9773
5,674k623


d $22.741
1258 :74
:9253768
1,489,256
oo003,099
474,282
d 227.438
i8.37;927
951,oo00
549,927
4,870,002
809,3569
1,30, 2
2,869,757
d 754,163
2,037,275
2,297,511
d 2.


4,435,217
1,537,255
6,901,507
1,159,:17
5,42o,423-
2,047,208
d 4480264
8,971,804
d 3,015,261

831,330
15,203,624
5,024,156
2,675,701
17,513,356
1,609,881
26,365,763
2,151,293
3,323,009
5,:047,97
4d 1.018.760
31 497
1,74988
829,51
9,34136
19,053,739
1,576,208
7,957,9014
1,350,965
65o,343


$1,442,310
38,908,:41
1482 3,134
22,243,564
5,551,3o3
2,213,445
20,377,279
1,512,257
7,106,401
13,5444,876
1,152,835
8,773,976
11,045,715
132,695
3924,140
4;642,o08
5,0 55, 31
3,5653,42
2,944,324
11,422,966
606, 54O
135441 58b
2,3822171
10,64,23o0
4.497,686
1,3 ,917
11,083,784
d 1.54.984
2,.28i9b4
17,848,158
36,116,983
5,981,972
11, 77,138
18,I2,507
9,457,737
4,28J,3135
4,11 509
9,977,53o0
5.157o4
3W
4,257:786
12 522,224
18,315,902
42,263,663
25,797,969
4,829,104
6,001,389


$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

5,405,770
d 441.8o4
2,705,354
3,740,199
d 1.802.267
7 495,7b3
4:349,245
6,601,519
2,218,732
9, 44 386
1,656,9614
9,323,850
3,201,796
436,730
11,589,627
d 2,270.000
1 01,761
3,46o0,43o
25,820,382
6,000,0o61
4,612,227
21,379,46
3,819,749
43,00oo5,123
51583
6,819,455
735,056
31,497
2,133,971
2,256,068
11,555,037
23,779,091
2,316,538
12,734.361
2,617,202
999,366


I I~ I


Report of receiver or receivers.
Report of trustee or trustees.
Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe BRy., 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 for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Opera-
tions for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net income of
$243,846 for the month and $157,339 for the period. These results include $195,552 for the month and $1,368,965
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 1942 income results for the System. The combined results
for 1942 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies
(excluding S.P.RR.Co. of Mexico) amounted to a net income of $6,948,276 for the month and $33,775,409 for the
period. Figures herein given exclude results of S.P.RR.Co. of Mexico for the reason that policy was adopted
January 1, 1940 of making no further advances to that company, it being required to conduct its operations entirely
within its own resources." S GOVERNMENT PRINTING OFFICE 1942-0-475222
Deficit.


0
0*

p
2/





~ e, pLTci 34:412 Y


UNIVERSITY OF FLORIDA

lillllllll!jlllllllllillll ll III lIIII I 1 l I\A
3 1262 08851 1026 INTERSTATE COMMERCE COMMISSION
B uRi-AUOFoRnO P OmRT BoNicCSANDm STASnTCS


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

Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
Class I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of August for the eight months of For the month of August For the eight months of
1942 1941 1942 1941 1942 1941 1942 1941
1. Net railway operating income ..-... -------- -- $135,264,073 $illi411,489 $816,776,325 $651,615,396 $103 2,890 $90,839,424 $625,830,892 $542,718,493
2. Other income--- ------ 11,797,842 12,239,740 100,012,261 98,951,91 10,897,532 11,434,290 92,456,396 92,101,15
3. Total income------ 1-------7,061,915 123,651,229 916,788,586 750,567,337 113,930,422 102,273,714 718,287,288 634,819,649
4. Miscellaneous deductions from income----.... ...--- 2,235,794 2,331,752 19,764,714 18,658,784 1,957,638 2,109,964 16,689,122 16,324,782
5. Income available for fixed charges ------- 144,826,121 121,319,477 697,023,872 731,908,553 111,972,784 100,163,750 701,598,166 618,494,867
6. Fixed charges:
6-01. Rent for leased roads and equipment--...-...... 16,424,59 14,491,115 17,2J8,280 106,263,769 15,527,011 13.5534,4 110,352,893 o10,728,34
6-02. Interest deductionsl. ---------- 36,83 39,79 8 9571, 726 308, 47,762 25,088,13 27, ,526 201,793,535 214,
6-03. Other deductions. ..-- 118,19- 179, 9-1,571 1 950,-02 1 ,5 ,01 89,06 705,17 2 07,143
6-04. Total fixed charges 53, 78,28 53,69048 3,90 77 6, 330,7 5 66 66 312, 5 316,95,68
7. Income after fixed charges -. --- 91,--7,856 67,629,2 '9 3122,295 315746720 71268 9 59,496,484 388,7,21 302,099,99
8. Contingent charges-.-.-.. 2204 1 1,547,287 17,922,019 12,345,289 1,442,427 785.313 11,826,229 6,249,499
9. Net income2/------------------ 89,243,435 66,082,12 65,200,276 303, 1,431 69,826,192 58,711,171 376,920,392 295,850,000
10. Depreciation (Way and structures and Equipment)--- 22 ,66,234 18,26o,451 161,122,196 143,652,839 18,697,217 15,111,885 132,352,799 118,591,779
11. Amortization of defense projects 7 68453 2,992 48,716,998 55,179 7,147,679 26,992 45,216,432 55,179
12. Federal income taxes --- --------- 9,972,332 23,993,908 464,99,90 116,814,211 85,626,221 23,286,999 434,762,268 113,550,221
13. Dividend appropriations: 115 3
13 -01. On ommon stock-- ----------- -- 4,492,690 15,792,043 70,27,156 74,996,769 14,492,69 5792O43 7027 6 69
13-02. On preferred stock-- ---- 4-2-0,5-6 5,424520,389 18,3 61 17,591,843 4,250,586 5,520,389 i8,334,461 17,591,84
Ratio of income to fixed charges/ (Item 5+6-04)- 2.71 2.26 2.17 1.76 2.75 2.46 2.24 1.95

All Class I Railways RClass I Railways Not in
All lass 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
1942 1941 1942 1941
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707)--- $506,315,301 *$557,642,232 $483,839,423 $507,471,977 Number of Amount Number of Amount
21. Cash ............ ... ....$964,665,835 $795,673,643 $723,984,223 $622,893,231 _reports reports
22. Temporary cash investments ----- 333,0o4l,772 133,935,534 303,294,050 125,772,950 1 *9,291
23 Special deposits ...13 ,711, 83 1,227,062 August .. 1941 112 67,01,1,905 17
24. Loans and bills receivable.........-------------------------...... ---- 1,011,077 1,2 062 59,65 991,298 ugust .. 1942 112 473,685,615 1 8 339
22. Traffic and car-service balances-Dr....-----. 39,275,053 33,67,038 32,618,1;5 31,111,254 8 months 1941 8 73,,21 2 5 1 i8,5,96
Net balance receivable from agents and conductors 134,697,554 76,437,031 111,285,750 62,798,029 8 month 19 9 321,9,33 3 31 18,5O,905
27. Miscellaneous accounts receivable--- 3 5,29,76 156,956,0526 83,05596 121,956,026
28. Materials and supplies--------------------- --- ... 529,977,852 395,918,277 42,74,01 316,953,064
29. Interest and dividends receivable-..- ..----....-- 19,099,102 14,81,580 17,884,64 13,108,509 N ET INCOME- ALL CLASS I RAILWAYS
30. Rents receivable.......................... 1,121,295 ,887 873,214 865,616
31. Other current assets -- .. --------------- 12210103 9,394,725 9,638,402 8,209,675 MILLIONS OF DOLLARS
32. Total current assets (items 21 to 31 ) 2,524,080,892 1,813,727,690 2,005,210,874 1,451,522,920 oo I
40. Funded debt maturing within 6 months/ $--------- 108,101,096 $109,775,861 $78,859,236 $90,442,414 1 so o
41. Loans and bills payable_/ (5$32,290.050 $71,228,720 2,1,926,400 (15,364,650
42. Traffic and car-service balances-C-r. 98,89,438 59,081,55 2568,' ,21o0 2, 46,393 60- -
Audited accounts and wages payable --..-.. -------- -8,7-4,77 28,-,240 2Q7,744,200 ', 02, 60
4.Miscellaneous accounts payable .. ,81---------- 5,81,18b 1,880,003 5 ,429,55 092,9 40
4.. Interest matured unpaid -- 35,320,328 26,637,941 29,25,009 23,220,337
Dividends matured unpaid .-.. 6,191,808 1, ~33,81 ,5,85,5 1-1,58#,505
47. Unmatured interest accrued...- .-------- 826 99,271 81,692,4-6 6 9,524,202 68,5,E 827
48. Unmatured dividends declared .18,427,603 21,64.2,726 1i8,427,603 21,2,72
49. Unmatured rents accrued.--. ---- 22,837,011 23,981,046 20,882,264 22,148,762 O 11
50. Accrued tax liability.--- ----..------ 756,787,233 324,736,704 700,686,921 288,8 50 6.8
51. Other current liabilities--- -.. ---------- 58,025,831 42,914,16o 46,184,977 30,754,985 2_o 0
52. Total current liabilities (items 41 to 51) .---- 1,515,514,486 994,094,797 1,283,373,086 789,169,592 40
53. Analysis of accrued tax liability: _i __-
53-01. U. S. Government taxes ......... ............... 610,682,084 187,487,623 581,648,657 178,822,823 J FMAMJJASOND JFMAMJJA S ONDJFMAMJJASOND
53-02. Other than U. S. Government taxes 1------- 46,105,149 137,249,081 119,038,264 110,046,027 1940 1941 1942


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with August $253,661,748 $183,517,120 $70,144,628
6 months ended with August 415,356,423 69,284,642 146,071,781
12 months ended with August 663,.49,712 458,891,922 2o4.557,790


3/ For railways in receivership and trusteeship the ratio was as follows:
August 1942, 2.59; August 1941, 1.b2; 8 months 1942, 1.93; 8 months 1941, i.14.
/ 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 1 road for the month of August 1942 and the eight months
ended with August 1942 and 3 roads for the month of August 1941 and the eight months
ended with August 1941 whose net income (or deficit) was absorbed by the controlling
company.


Subject to revision


Statement No. M-125
AUGUST 1942












INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


NET INCOME.OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


NET INCOME AFTER DEPRECIATION AND NET INCOME BMOM DEPMEIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the eight months of For the eight months of
1942 1941 1942 1941


Alton R R.
Atchison, Topeka & Santa Fe Ry. System a/ ...*
Atlantic Coast Line R. Re .....................
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 By.** .................
Chicago, Burlington & Quincy R. R.. .........*
Chicago Great Western Ry. ..o*69000000*0060....
Chicago, Milwaukee, St. Paul & Pacific R. R.**
Chicago, Rook Island & Pacific By.** *........
Chicago, St. Paul, Minneapolis & Omaha RBy. ...
Delaware & Hudson R. R. ............**********........
Delaware, Lackawanna & Western R. R. .........*
Denver & Rio Grande Western R. R.** .......*...
Duluth, Missabe & Iron Range RBy. 00....0
Elgin, Joliet & Eastern 0y. .. 0.............0
Erie R. Re ooo..******* @-*oo*ooooooeooo***
Grand Trunk Western R. R. .....*...............
Great Northern By. ............................
Gulf, Mobile & Ohio R. R. .....................
Illinois Central R. R.. ......*.................
Lighig. Valley R R. ....*...................*...
Long Island R. R .............................
Louisville & Nashville R. R. **................
Minneapolis, St. Paul & Sault Ste. Marie By.*
Missouri-Kansas-Texas Lines ........***********
Missouri Pacific R. R.** ....................**
New York Central R. R. b/ ***..............8*
New York, Chicago & St. ouis R. R. ..........*
New York, New Haven & Hartford R. R. **.......
Norfolk & Western Ry. .........................
Northern Pacific By. ******************........
Pennsylvania .. R. ...........................
Pere Marquette By. ......*..*.....*..* ....*....
Pittsburgh & Lake Erie R. R. .................*
Reading Co.
St. Louis-San Francisco .y** ...............**
St. Louis, San Francisco & Texas By *..........
St. Louis Southwestern Lines** ........*.......
Seaboard Air Line By.* .....*................*
Southern By. ..................................
Southern Pacific Transportation Syst.em / ...o
Texas & Pacifie By.....* ***************************
Union Pacific R. R. (including leased lines) ..
Wabash By. .*..... ........** *00*..****
Yazoo & Mississippi Valley R. R. .........*..**


$1,752,331
36,7o5,995
12,665,6
19,5 4, 3
5,O2A,0
2,094,240
2,249,098
16,332,684
1.525,952
4,372,:46
1I,864,166
967,100
4,170,570
11,3317.,3
d ."33
3,112,290
2,866,o0
5,594,162
3711, 567
1.35849
9,123,996
164,108
11,313,622
2,211,019
6,495,276
2,912,356
65,496
7,809,427
d 2.99 053
18,178,532
27,020,440
5,317,198
11,N491,1
12, ,41
5,786,734
45,005,751
1,831,392
2,:596,90
a8 ,636,512
4:862,534
450,157
4,0o,531
13,107,080
14 ,862,271
39,165,432
4,358, 300
25.105,821
3,400,986
5:874#948


$o, 496
17,555,522
7,20.411
15,lg,4o3
4,686,621
669,009
23,08L878
1,068,986
1,613,881
6,580,638
1,026,578

d 04
2,7 ,929
2,744,976

4,293,5
5,291,557
1,612,906
9,.691,332
1,414, 70
5,960,213
2,581,889


d 2.8 .26
d W

18,053,638
6,194,704
3.8: .951
20,536,110
3,227,o86
32,965,716
2,289,560
3,8 ,397
d 84.127
83, :7
2,18,;460
851,982
11,150,936
23,692,774
1,856,982
10,783,J79
1,752.83,
1,002,851


i1,941,616
46,915,816

6,71 ,396
2,888,742
3.187,t9
23,52,8
1,945t712
9,387,961
16,525,647
1,35,893
14,267,898
381,820
4,o00,164
54906,556
:,970, 93
4,706,720
3,406,1 80
13,6494,897


68,642,o404
3,870,65
4,727,314
11,951,o55
6,954,852
450,157
4,525,008
14,819,377
21,181,911
50,900,911
5,239,555
32,335,098
5,553,615
7,247.950


$263,674
25,720,918
8,816,393
20o,172,56
5,635,233
1,247,246
952,617
28,836,896
1,481,206
4,840,328
10,316,376
1,:24,187
7,082,106
6,696,815
d 258.354

,393,61t

5,13,310
7,772,038
2,391,571
12,601,246
1,983,894
10,415,311
3,906,866
756,856
13,951,001
d 197
4,769,753
30,211,940
7,312,52o
0 0#239-
2495611,776
5,805,11o
52,058,912
5, g:79,2
08108,666
1,150,410
83.371
2,8i,50o
2;,6,374
13,705,oo0
29,1 4,512
2,703,676
16,26,34
3,200,095
1,368,468


* Report of receiver or receivers.
* Report of trustee or trustees.
a/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe By.
Includes Boston & Albany, lessor to New York Central R. eR
:/ Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines* The report contains the following
information: "Figures reported for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Opera-
tions for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net income of
*202,105 for the month and $359,444 for the period. These results include #197,735 for the month and $1,566,700
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 1942 income results for the System. The combined results
for 1942 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies
(excluding 8.P.BR.Co. of Mexico) amounted to a net income of $7,316,167 for the month and 41,091,576 for the
period. Figures herein given exclude results of S.P.RR.Co. of Mexico for the reason that policy was adopted
January 1, 1940 of making no further advances to that company, it being required to conduct its operations entirely
within its own resources."
withinIts own resources.. U.S GOVERNMENT PRINTING OFFICE: 1942-0-475222
d Deficit*




11^C /I &UL 31'.f 'q


Subject torevision


UNIV. OF FL LIS.





U.S. DEPOCTORY


UNIVERSITY OF FLORIDA

1111111111111 11111111 INTERSTATE CO MERCE COMMISSION
3 1262 08851 1034 BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
SEPTEMBER 1942


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

Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All Class I Railways Class I Railways Not in
All ClassI Railways Receivership or Trusteeship
Income Items For the month of September For the nine months of For the month of September For the nine months of
1942 1941 1942 1941 1942 1941 1942 1i941

1. Net railway operating income----- ----- --- 154,631,722 $104,358,837 $972,989,638 $755,974,232 $120,731,041 $83,503,124 $748,143.521 $626,221,617
2. Other income ---.-------. ------. 11,888,353 12,331,944 111,900,616 111,283,885 11,046,501 11,475.598 103,502.897 1035576,753
3. Total income -- -------------- --. 166,520,075 116,6q0,781 1,084,890.254 867,258,117 131,777,542 94,978,722 851,646,420 729,798,370
4. Miscellaneous deductions from income------------- 4,412,342 2,290,248 24,177,058 20,949,034 4,065,101 2,089,127 20,754,223 18,413,910
5. Income available for fixed charges -------- 162,107,733 114,400,533 1,060,713,196 846,309,083 127,712,441 92,889,595 830,892,197 711,384,460
6. Fixed charges:
6-01. Rent for leased roads and equipment -----...- 17,598,338 13,801,304 134,816,618 120,065,073 16,426,429 12,979,483 126,779,322' 113,702,867
6-02. Interest deductions/-- ----- 36,894,311 39,164616 332,636,036 348,112,378 25,195,106 26,555,916 226,988,639 241,520,257
6-03. Other deductions -.------------- 119,113 120,478 1,060,684 1,070,780 89,035 90,272 794,152 797,915
6-04. Total fixed charges 54,611,762 53,086,398 468,513,338 469,248,231 41,710,570 39,625,671 354,562,113 356,021,039
------------------------- 7 253 .0 6398 16,1,3 462314 351
7. Income after fixed charges----- 107,495,971 61,314,135 592,199,858 377,060,852 86,001,871 53,263,924 476,330,0 355,363,421
8. Contingent charges-- -------- ---------- 2,305,848 1,547,288 20,227,867 13,892,577 1,543,875 785,315 13,370,104 7,034,814
9. Net income/.: ..- --------------- 105190,123 59,766,847 571,971,991 363,168,275 84,457,996 52,478,609 462,959,980 348,328,607
10. Depreciation (Way and structures and Equipment)---- 22,888,749 18,259,084 184,010,945 161,911,924 18,676,279 15,085,733 151,029,078 133,677,513
11. Amortization of defense projects 8,356,188 219,626 57,073,185 274,805 7,324,998 219,626 52,541,429 274,805
12. Federal income taxes ------------.------ 88,659,752 28,421,340 551,777,651 145,235,551 76,913,800 27,417,833 510,094,477 140,968,054
13. Dividend appropriations:
13-01. On common stock--- .------------ 8,2o5,899 6,189,195 78,o54,o0 81,189,964 a 89 6,9,195 78,54055 81,185,964
13-02. On preferred stock --...- --------- 1,064,204 75,000 19,398,6o 17,66,845 1,06,.20Z 75,000 19,98,665 17,66,845
Ratio of income to fixed charges/ (Item 5+6-04)... 2.97 2.15 2.26 .1.80 3.06 2.34 2.34 2.00

All Class I Railways 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 September Balance at end of September
1942 1941 1942 1941
SRailways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) $508,661,918 $552,330,565 #485,307.750 _$02,186,209 Number of AmountdNumber ofPAmount
21. Cash -....... -- -7.....-------. .----991,88,447 3813,678,477 $7744,632,729 $635,252,744 reports reports
22. Temporary cash investments .........----- ,71,304 15,4481 387,051,634 145148,230 September 1942 120 $105,712,014 10 521891
23. Special deposits --------------------- 147,889,534 223,666,788 105,987,877 179,152,228 September 1941 106 61,362,398 23 1,595.551
24. Loans and bills receivable .... -------- 998,00 1,234,133 946,907 1,009,136 9 months 1942 117 580,354,410 14 8,382,419
25. Traffic and car-service balances-Dr--.. ------ 40,93,993 32,955,712 34,335,930 29,912,179 9 months 1941 100 382,067,368 29 18,899,093
26. Net balance receivable from agents and conductors -- 141,684,254 79,774,944 116,261,079 65,272,471
27. Miscellaneous accounts receivable--385,064,283 165,369,033 310,324,888 128,302,394
28. Materials and supplies --- 522,560,019 411,976,308 419,890,786 330.34o0,426
29. Interest and dividends receivable ........... ------- 21,744,450 20,951,217 20408,314 19,08 ,115 NET INCOM E-ALL CLASS I RAILWAYS
30. Rents receivable ..... .... ----------------- 1,261,223 1,27,298 939,193 1, 045,142
31. Other current assets 13,619,410 10,130,934 10,060,072 8,962,686 MILLIONS OF DOLLARS
32. Total current assets (items 21 to 31) ---- 2,711,216,860 1,915,606,658 t2,150,839,409 1,543,480,751 100-------
40. Funded debt maturing within 6 months 4 $103,291,207 $125,491,971 $73.573,983 $106,059,743 so
41. Loans and bills payable 5/ ---- ----- ------- $32,289,499 $71,214,355 $1,925,850 $15,364,050
42. Traffic and car-service balances-Cr ---------105,402,345 548819 70,359,829 42,958,77 60- -
43. Audited accounts and wages payable- 318,302,370 267,464,047 2-7,589,282 215,593,561 /
Miscellaneous accounts payable-.---- -------- 68,531,64 47,991,471 .328,346 36,086,358 40 \
45. Interest matured unpaid-...-- 53,777,164 44,902,607, 47,897,834 1,640,124 / T 0,I
46. Dividends matured unpaid .--- -------. 13,647,535 14,661,939 13.299,612 14,309,630
47. Unmatured interest accrued .-------------- 76,561,025 76,173,799 61,293,026 60,108,342 o
48. Unmatured dividends declared-- ----------- 9,756,703 5,123,955 9,756,703 5123,955
49. Unmatured rents accrued -.. ------ 21,995,647 22,095,770 19,515,44 20,094,968 0
50. Accrued tax liability..-..... ----------- 838,614,063 367,022,39 768,221,215 327,497,770
1. Other current liabilities------- 59,799,382 48,991,469 46 958,471 36.888.431 .zo -I L ---A- 1 -- ..----- -------
52. Total current liabilities (items 41 to 51) 1,598,677,377 1,025,130,424 1,.346.145,612 815.665.936 40
53. Analysis of accrued tax liability:
53-01. U. S. Government taxes -688,686,671 223,722,004 645,879,937 211,201,106 J FMAMJJASONDJFMAMJJASONDJFMAMJJASOND
53-02. Other than U. S. Government taxes ------- 149,927,392 143,300,389 122,341,278 116,296,664 1940 1941 1942


I/Represents accruals, including the amount in default.
?/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with September $282,786,325 $189,936,656 $92,849,669
6 months ended with September 476,834,046 293,722,865 183,111,181
12 months ended with September 710,454,583 487,519,434 222,935,149


3/ For railways in receivership and trusteeship the ratio was as follows:
September 1942, 2.67; September 1941, 1.60; 9 months 1942, 2.02; 9 months 1941,
1.19.
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 2 roads for the month of September 1942 and 1 road
for the nine months ended with September 1942 and 3 roads for the month of
September 1941 and the nine months ended with September 1941 whose net income
(or deficit) was absorbed by the controlling company.












INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


NET INCOME AFTER DEPRECIATION AND IET INCOME BEFORE DEPRECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the nine months of For the nine months of
1942 1941 1942 1941


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.** ...........
Duluth, Missabe & Iron Range Ry. ..............
Elgin, Joliet & Eastern Ry. ....................
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 PacificRy. ...........................
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. ...............


*2,072,637
45,073,065
13,485,028
22,864,610
6,176,958
2,181,210
2,997,760
18,:69,706
1,947,709
5,793,915
17,259,074
1,352,375
.6,302,772
14,070,144
226,438
3,521,977
3,410,145
7,691,049
4,7603,36
1,665,849
10,691,642
607,799
15,143,138
2,609,769
7,568,409
3,567,520
470,151
10,193,990
d 2.675,462
2,845,459
21,310,822
32,129,045
6,030,072
13,106,470
15,143,591
7,968,561
60,311,483
2,153,780
3,163,276
10,390,344
6,864,550
680,114
4,274,408
14,475,088
18,250,812
47,587,980
5,215,938
31,424,178
3,766,302
8,492,514


$97,820
20,930,079
7,505,392
17,891,207
5,366,805
893,042
464,924
26,034,582
1,171,263
2,588,575
8,019,610
1,301,732
Z,014,346
,502,694
d 548.211
3,453,800
3,306,o66
d 2.817.808
11,605,382
4,487,933
6,280,461
1,797,388
12,733,086
1,687,187
6,062,134
3,070,625
d 420.835
12,937,490
d 2,721,828

2,702,798
21,824,343
7,220,171
4,853,949
22,162,787
4,784,882
40,271,823
2,628,196
4,355,893
7.258,402
d 519,595
90,312
2,686,070
1,001,910
13,132,634
27,545,610
2,221,088
14,010,249
2,161,124
1,621,879


$2,285,801
56,623,937
17,218,308
31,045,003
7,666,965
3,089,085
4,074,159
26,858,138
2,422,752
11,916,627
22,522,218
1,788,984
13,873,121
17,567,187
694,159
5,089,852
6,493,024
9,256,o00
5,824,420
3,996,133
15,778,943
1,648,526
21,529,746
3,22,578
13,867,708
6,737,312
2,080,704
15,799,219
d 1.038.194
3,763,672
25,212,225
54,347,805
7,976,294
16,410,913
24,502,280
14,989,007
87,148,814
4,448,560
5.556.299
14,171,216
9,221,312
680,114
4,814,055
16,406,662
25,428,365
61,052,406
6,211,259
39,663,477
6,202,896
8,910,377


$304,066
30,143,166
9,290,766
23,562,893
6,435,803
1,544,799
1,453,618
32,532,937
1,635,078
6,235,36
12,238,542
1,726,570
9,557,137
7,773,063
d 17,960
4,312,316
5,360,692
d 1,819.908
12,2l3,582
5,443,106
9,075,311
2,672,089
16,013,512
2,324,389
11,065,889
4,565,916
758,581
16,329,262
d 1,761.j35
655,636
6,084,387
35,526,855
8,483,651
7,350,204
27,138,359
7,729,427
61,815,749
4,392,288
6,190,887
9,537,405
1,735,974
90,312
3,183,989
2,844.169
16,157,247
33,645,563
3,173,971
20,200,591
3,789,422
2,036,818


* Report of receiver or receivers.
** Report of trustee or trustees.
a Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ 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 for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Opera-
tions for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net income of
$531,953 for the month and $891,397 for the period. These results include $195,552 for the month and $1,762,252
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 1942 income results for the System. The combined results
for 1942 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies
(excluding SP RR Co. of Mexico) amounted to a net income of $9,150,053 for the month and $50,241,629 for the
period. Figures herein given exclude results of SP RR Co. of Mexico for the reason that policy was adopted
January 1, 1940 of making no further advances to that company, it being required to conduct its operations
entirely within its own resources."
d Deficit.




UNIVERSITY OF FLORIDA


Subject to revision


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
NOVEMBER 1942


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

Compiled from 132 reports (Form IBS) representing 136 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

CAll Class I Railways lass I Railways Not in
All Class I Railways Receivership or Trusteeship
Income Items For the month of November For the eleven months 'of For the month of November For the eleven months of

1942 1941 19.42 1941 1942 1941 1942 1941
1. Net railway operating income .. ------............ $148,949,000 $68,933,015 $1,309,041,877 $918,95-,295 $119,833,858 $59,275,280 $1,011,684,527 $761,440,2so
2. Other income .......-- ---- --.. ------..-- 17,591,303 13,631,185 142,472,503 137,759,962 16,42,50 12,814,304 131,670,372 128,232,177
3. Total income .........------------ --------- 166,540,303 2,54,201 1,451,514,380 1,056,7.257 136,296,362 72,089,584 1,143,354,899 889,672,457
4. Miscellaneous deductions from income .-.-..----. 5,193,787 2,126,620 33,920,973 25,318,226 4,739,760 1,935,406 29,717,146 22,474,822
5. Income available for fixed charges -- ----- 161,346,516 80,437,581 1,417,593,407 1,031,426,031 131,556,602 70,154,178 1,113,637,753 867,197,635
6. Fixed charges:
6-01. Rent for leased roads and equipment---- 10,708,579 11,079,908 163,790,629 141,290,155 9,829,206 10,272,804 153,610,548 133,365,845
6-02. Interest deductions/-- -------- 36,927,031 38,291,661 406,405,662 425,105,137 25,166,089 26,448,568 276,224,247 293,599,536
6-03. Other deductions .-------.----..---- 118,558 121,135 1,301,204 1,308,030 89,132 91,015 975,822 974,847
6-04. Total fixed charges.------- 47,754,148 49,492,704 571,497,495 567,703,322 35,084,427 36,812,387 30,810,61 427,940,228
7. Income after fixed charges ----- -- 113,592,36S 30,944,877 846,095,912 463,722,709 95,472,175 33,341,791 682,827,136 439,257,107
8. Contingent charges..........-------- ------------ 2,22,845 1,557,803 25,33,884 17,009,432 1,520,871 795,29 17,002,173 8,627,721
9. Net income 2/ ... ---------.. ---. -- 111,309,523 29,387,074 820,712,02S 446,713,277 94,951,304 32,545,962 665,824,963 430,629,686
10. Depreciation (Way and structures and Equipment)--- 21,081,585 17,980,730 228,342,391 197,707,490 16,678,899 14,761,968 186,683,040 162,836,713
11. Amortization of defense projects 11,020,840 1,861,862 76,731,762 4,172,420 8,887,986 1,861,862 69,203,626 4,172,420
12. Federal income taxes..... ------............... ......---- 78,814,220 8,343,898 713,080,683 16,156,938 64,110,915 7,964,154 641,667,840 162,707,364
13. Dividend appropriations:
13-01. On common stock-- ------ 34,016,015 51,533,759 135,910,684 134,986,391 34,016,015 51,533,759 135,910,684 134,986,391
13-02. On preferred stock 3,-493,575 14,465,167 29,267,319 24,146,239 3,0493,575 4,465,167 29,267,319 24,146,239
Ratio of income to fixed charges 3/ (Item 5+6-04) 3.38 1.63 2.48 1.82 3.75 1.91 2.58 2.03
A a I Railway 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 November Balance at end of November

1942 1941 1942 1941
Railways Reporting a Railways Reporting a
20. Investments in stocks, bonds, etc., other than those Period Net Income Net Deficit
of affiliated companies (Total, Account 707) ..... 522.091,189 536.307.905 $499467.84 48.471.015 Number of Amount Number of Amount
21. Cash ..-- .... ...------......................................... ..... .... 1,120,469,559 $892,360,703 $850,549,884 $701,495,014 reports reports
22. Temporary cash investments..--- ------------ 693,537,086 141,619,576 598,121,309 133 0,032
23. Special deposits ............ 157,172,966 229, 1499,5 111,306,767 170,263,516 November 1942 110 $115,260,824 19 $ 51,01
Loans and bills receivable...........-----... ..................... 989,142 1,12,6 9,707 94,26 November 1941 86 35,6,216 43 ,29,42
25. Traffic and car-service balances-Dr. --....--................ 39,736,605 31,466,230 34,064,371 28,321,416 11 months 1942 117 829,743,41 4 9,031,813
26. Net balance receivable from agents and conductors 15 ,171,562 77,955,776 130,141,964 64,111391 11 months 1941 100 469,429,391 29 22,716,114
27. Miscellaneous accounts receivable--------- 412,679,174 177,078,761 326,879,940 136,759,357
28. Materials and supplies --- -508,775,912 437,309,795 408,2#,956 351,680o,61
29. Interest and dividends receivable---------- 30,691,004 2755 2939868 26,730505 NET INCOME-ALL CLASS I RAILWAYS
30. Rents receivable --------------- 1,623,507 1,1,119,59 1,111,397 LLONS ODOLLAR
31. Other current assets --- ,-------------- 6155,83 1010,61,12 8, MILLIONS OFDOLLA9sp
32. Total current assets (items 21 to 31)------- 3.139.462.350 2.029.145.735 2.501.382.417 1.623.784.017 100 .. ._
40. Funded debt maturing within 6 months/ .... ----- $150.501.87 126.458.721 128.102.746 113.625.503 80 so..
41. Loans and bills payable/ .. .....---..............--- .. $31,687,951 $57,702,024 $1,324,750 $4,762,950 60
42. Traffic and car-service balances-Cr ---------- 130,710,312 1,540,579 90,276,678 4,067,346 60 --------
Audited accounts and wages payable---. -------- 387,518,659 315,819,130 316,31,8 25 229,284
4. Miscellane6us accounts payable --1,8,557 45,612,799 52,784,39 32,917,738 40 -
45. Interest matured unpaid.------ ---..... ,23 32,99,693 43 ,29628 29,540,7798 96,2 / 5 2 I
Dividends matured unpaid.... ----------- 9,615,596 4,510,307 26635 4 79 o /
47. Unmatured interest accrued----.........e--- ......... 88:480,410 86,93 ,949 7 ,21475 70,3,76------ -- -
48. Unmatured dividends declared----------------------- 70,223,496 52,60J,675 7,223,:496 52,607,675 1
49. Unmatured rents accrued.... ...--.. 1,110,461 ,56,5 ,513,912 28,519,588 ----------------,1
50. Accrued tax liability---.---- 9-2,873-,647 548,5,.7 85-:819,065 3 11 612,552 2,1"-
51. Other current liabilities---..............................----..- ..... -- 6290192 g1 ,488 20
52. Total current liabilities (items 41 to 51)---- 1,71,111,255 1,080,732.09 1,577,975,243 868,142.166 40
53. Analysis of accrued tax liability: 29_-
53-01. U. S. Government taxes ..----- 816,494,963 224,884,387 750,778,082 214,164,221 JFMAMJJASONDJFMAMJJASONDJFMAMJJASOND
53-02. Other than U. S. Government taxes.............. 126,378,684 123,461,030 101,040,981 97,44,331 1940 1941 1942
~Reprsent accralsinclding he-aount -n-deault


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1942 1941 Increase
3 months ended with November $355,511,752 $143,311,846 $212,199,906
6 months ended with November 609,173,500 326,828,966 282,314,534
12 months ended with November 875.649,618 497.365.803 378.283.815


_/For railways in receivership and trusteeship the ratio was as follows:
November 1942, 2.35; November 1941, 0.81; 11 months 1942, 2.16; 11 months 1941, 1.18.
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 for the month of November 1942 and 1 road for the
11 months ended with November 1942 and 3 roads for the month of November 1941 and the
11 months ended with November 1941 whose net Income (or deficit) was absorbed by the
controlling company.
U. S. GOVERNMENT PR INTING OFFICE : 1943-0-475222


I'-













INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

NET INCOME OF LARGE STEAM RAILWAYS

(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)
SET INCOME AFTER DEPRECIATION AND NET INCOME BEFORE DEPRECIATION AND
AMORTIZATION OF DEFENSE PROJECTS AMORTIZATION OF DEFENSE PROJECTS
Name of railway For the eleven months of Por the eleven months of
1942 1941 1942 1941


Alton R.R.*t ..................................
Atchison, Topeka & Santa Fe By. 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.**............
Duluth, Missabe & Iron Range Ry
Elgin, Joliet & Eastern Ry......................
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, Sar 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...............


17,704,383
31,97,287
8,:M,54-6
3,449,212
43o6,:483
27,751,115
2.261,029
9.190,324
24, 55,o46
2,118,318
10, 55,321
20,427,280
691,155
5,240o,893
43452,o0%
10,771,042
7,189,288
1,957,469
13,562,125
1,214,131
26,205,121
3,551,i13
11, 415
5, 30

d 2 507:101

27,442,539
42,797, 95
8,591,48
17,659,386
20,030,041
12,532,883
89,569 578
3,051,841
3,966,253
13,682,o08
11,238,664
939,497
5.26o0,704
18.470.776
25,890,673
68,798,336
7,798,201
50,651,162
5, 42,277
10,314,796


$83,819
25,255, 02
9,..,759
19,601,188
5,894,064
1,099,861
582,491
39,092,546
1,290,210
1,810,826
9,612,112
1,634,914
5,52,987
4,3 ,28
d 748.74U
4,165,507
3,218,5 4
d 2. 571.70
-,7o7,o57
7,637,978
1,724,842
14.502,065
2, 065, 4
6,323,566
3,178,680
d 1.111.17



1,070, 2
24, 3.35,177
10, 613,194
4, 668,370
25,763,925
5,927,970
47,297,132
3,099,537
5.199,868
8,639,682
131,298
135,173
3,321,925
16,227,826
33,995,901
3,009,790
21,871,132
2,797 482
2,422,726'


$L,404,629
78,567,966
22.353,752
41,996,192
10,190,431
4,612,152
5,879,500
38,300,207
2,847,841
17,530,135
30,945,107
2,946,979
19,759,701
25,050,079
1,391,894
7,225,160
8,427,141
12,713,124
8,568,347
5,624,145
19,81l4,841
2,489,956
34,133,885
4,608,212
19,191,807
9,370,081
1,738,109
22,654,347
d 4.999
b,Ob3,793
32,321,502
735,382,75
11,079,600
21,757,675
31,728,296
21,336,429
121.377,887
5,862,158
6 884,583
18,451,853
14,166,490
.939 497
6,004136
21,864,8234
34,794,729
85,714,572
9,021,006
60,9:44:,452
8,M1,0438
10,836,091


$336,726
36,551,954
11,229,071
26,582,183
7,203,192
1,900,008
1,791,065
47,121,580
1,856,784
6,301,683
14,455,046
2,153,616
11,129,254
8,368,400
d 257.156
5,214.393
5:484,:838
d 1.545.242
5,698,876
11,o61,224
2,804,263
20o50o75
2.s5492z
12,529,647
5,191,267
331,650.
20.572,353
d 1946.006

7,216,914
41,043,941
12,168,378
7,741,207
31,840,672
10,112,849
73,731,572
5,278,416
7.324,973
11,580,498
2,889,314
135,173
3,935,885
2,849,602
20,195,204
41,486,397
4:175,697
29,625,160
4,78, 286
2,936,185


SReport of receiver or receivers.
** Report of trustee or trustees.
a/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ry., and Panhandle & Santa Fe Ry.
/ Includes Boston & Albany, lessor to New York Central R. R.
it Includes Southern Pacific Company, Texas & New Orleans R. R., and leased lines. The report contains the following
information: 'Figures reported for Southern Pacific Transportation System exclude offsetting debits and credits
for interest on funded securities and rentals for leased properties between companies included therein. Opera-
tions for 1942 of separately operated Solely Controlled Affiliated Companies (excluding results for Southern
Pacific Railroad Company of Mexico), not included in income results for the System, resulted in a net income of
$446,532 for the month and $2,186,496 for the period. These results Include 9195,553 for the month and $2,153,357
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 1942 income results for the System. The combined results for
1942 for Southern Pacific Transportation System and separately operated Solely Controlled Affiliated Companies
(excluding SP RR Co of Mexico) amounted to a net income of $10,097,575 for the month and $73,138,189 for the
period. Figures herein given exclude results of SP RR Co of Mexico for the reason that policy was adopted
January 1, 1940 of making no further advances to that company, it being required to conduct its operations
entirely within its own resources."
d/ Deficit.