Selected income and balance-sheet items of class I steam railways in the United States - 1947

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Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1947
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:
1947
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:
AA00000587:00015

Related Items

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

Full Text




Subject to revision


j64 -- 1/4 7


Apr2rP-7


UNIVERSITY OF FLORIDA

1111111 III111111 1 1111111 11111 1T1111A T B 3 1262 08851 2040 INTERSTATE COM ERCE COMMISSION
BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


UNIV. OF FL LIB.



f A '- nni


U.S. DEPOMTORY


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

Compiled from 130 reports (Form IBS) representing 134 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All Cls I Rail s Class I Railways Not in
All Class I Railways Receivership or Trusteeship #
Income Items For the month of January .For the month of January

1947 1946 i 1947 1946
1. Net railway operating income. ....... .5771 7 65,912,497 52,355,212 457,451,713
2. Other income .. 1,881,253 1,219,87 13,753,474 13, 15,342
3. Total income. 72,599,000 013a9367 66,108,686 70,637,055
4. Miscellaneous deductions from income...... 3,281,579 2,653,65 3,212,771 2,568,705
5. Income available for fixed charges .. 69,317,421 77,478,482 62,895,915 68,068,350
6. Fixed charges:
6-01. Rent for leased roads and equipment ....10,603,430 14,896,968 10,182,494 14,220,762
6-02. Interest deductions I/ ...........---.---- 26,504,307 29,719,097 20,469,970 23,570,371
6-03. Other deductions ..17------ ... ,591 11,887 126,169 102,09
6-04. Total fixed charges..... -. 37,245,328 44,732,892 30,778,633 37,893,542
7. Income after fixed charges ...... ....... .. 32,072,093 32,745,790 32,117,282 30,174,808
8. Contingent charges 3,250,099 2,993,441 3,250,099 2,993,441
9. Net income2/.... .. 28,821,994 29,752,349 28,867,183 27,181,367
10. Depreciation (Way and structures and Equipment) ... 28,882,996 28,285,180. 26,120,970 25,488,616
11. Amortization.of defense projects----......-------.. 1 4,835 482,87,5 1,204,993 409,637
12. Federal income taxes .... .... ............... a/ 24,631,799 25,904,352 23,073,634 23,988,272
13. Dividend appropriations:
13-01. On common stock .,902,67 2,902,627 2,902,627 2,902,627
13-02. On preferred stock ...... .....-.. .. 2,582,269 2,599,161 2,58,9 2599,61
Ratio of income to fixed chargesV/ (Item 5+6-04).- 1.86 1.73 2.04 1.80

Al Class I Raiways .... .. 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 January Balance at end of January
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road... $--- ................................-. 18,637,880 $18,317,381 $16,410,169 $16,075,335 Number of Number of
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment .............................. 33,175,303 25,255,842 31,5--9,15 22,334,814 reports reports
19. Investments in stocks, bonds, etc., other than those January 1947 8 $39,318,381 38 $10,496,387
of affiliated companies (Total. Account 707) ...... 580,209,251 566,709,589 563,100,953 549,833,265
20. Other unadjusted debits..................................... 170,470,556 167,697,502 101,21828 903,12,882 January 1946 87 41,363,071 39 11,610,722
21. Cash. .. .....- .-.------.-- 930,200,102 1,034,848,182 "822,631,999 905,603,243
22. Temporary cash investments ...... 1,047,340,900 1,574,219,356 1842,367,243 1,283,171,143
23. Special deposits......-- --- -- 165,760,968 166,793,905 150,039,175 150,757,698
24. Loans and bills receivable-- .. .........- ........ 366,985 457,568 363,948 457,309 MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
2. Traffic and car-service balances-Dr .. 49,985,881 43,660,024 41,022,196 33,196,241 OF OLLARS OF sOLL"S
26. Net balance receivable from agents and conductors 126,86,733 101 545,980 115,850,002 91,985,41P 901 90
27. Miscellaneous accounts receivable .--. ..... 293, 15,33 448 ,5716,4 243,511,509 371,620,523 80o 0
28. Materials and supplies.. .. ... ...- 673,657, 605001,517 604,735,728 540,306,
29. Interest and dividends receivable .. .. 13,958,661 26 039,789 11,092,931 21,61,219
0. .Accrued accounts receivable --172,015,406 266,15,788 151,966,214 237,064,?15 C
31. Other current assets 57.54b.892 8.453.415 50.26.384 5.626373
32. Total current assets (items 21 to 31)............. 3,531.139.262 4.325.906.964 3.034.407.329 3.,681.407,748 9 40 40
40. Funded debt maturing within 6 months/ ............ 189,044,433 140o.012.129 174.49.968 134.805.655
41. Loans and bills payable/ ...-.............. ...... 9,385,000 10,354,058 ,900,000 6,500,000 20----- 20
42. Traffic and car-service balances-Cr....... 100,181,290 141,975,709 84,483,432 120,928,468
.Audited accounts and wages payable.. ..... 476,615,108 462,3,31 5,072 46311,707
44. Miscellaneous accounts payable --- ..... .....- 186,098,362 168,55X,85 5 9 ,151,48,452 131,091,628 0
45. Interest matured unpaid....... .... 52,61,690 51,716,03,7 5 7,196,99
46. Dividends matured unpaid.. -.--... .. .... 7,551,517 71589,85 65 7.27,08 ,3l4,o 7314:8 -20 ....
47. Unmatured interest accrued... ..... 68,384,319 67,253633 635766
4. Unmatured dividends declared -...-..1 -. ..-- .. 9,795,77 19,73888 19,795,787 19,738,988
49. Accrued accounts payable .... .. 161,782,68 20 71,609 142,554, 17,75
Taxes accrued --..-.. -.-.....--.-..- 432,929,42 806,57,513 397,61,346 7,67, 40
Taxes8acc51ed97:111,39 676,697,902
Other current liabilities ..........- .1....- ... 100,0 288 iO 106,488.78 91.66.097 9S,1S48,02
52., Total current liabilities (Iterms 1 to 51 1 ,615,16,57_ 2,0 2,46o0.45 1. 7,719 1,1el7, -60- -_ -- -- ------- -60
53 Analysis of taxes aeorued: I 80 -80
53-01. U. S. Government taxes .. ... 320,-47 ,256 674,879,758 297,603,215 570,98'5,050 F MA. j J ASON DJ FMAM J AS 0 N MAM J J AS 0 N 0
53-0 25,vernment taxes0......2..5...0...J..A.......... .570,9 OA
53-02. Other than U. S. Government taxes .. 112, ,186 1,577,755 00,28,131 107,722,2 1945 1946 1947
54. Other unadjusted credits......... ...... .. 365,57 ,642 15,7 1,619 1.1,467,112 352,647,46


I/Represents accruals. including the amount in default.
2/For all Class I Steam Railways the net income was as follows
Period 1947 1946 Inorease
3 months ended January $163,511,960 d 3 3,S75.86 $117,387,46
6 months ended January 313,232,127 b,1855,9 246,0,29
12 months endea January 287.604.112 413.43C..002 d 1'5.V..90
The net income shown for January 1946, i~ after a deduction of 8295,909, taken out of
opera ing revenues to create reserves for land grant deductions In dispute.
4/ For railways In reoelvershlp and trusteeship the ratio wRs as follows: January
1947, 0.99; January 1946, 1.38;


Y/ Inoludes payments of principal of long-term debt (other than long-term debt
in default) *hlch will become due within six months after close of month of report.
/ Includes obligation whichh mature not more than one year after date of issue.
Excludes reports of 4 roads for the month of January 1947 and 1946, where net
income (or deficit) was absorbed by the controlling company.
S Exludes Toledo, Peoria and Western Railroad. Filed no report.
# d Figures include returns of the Chicago, Indiannpolis and Louisville Ry. Co.
which emerged from trusteeship on May 1, 1946, Seaboard Air Tine which emerged from
receisership on August 1, 194, and St. Louis San Francisco, which emerged from
trusteeshiD on January 1. 1947.
!/ Includes credits covering refunds of Federal Income Taxes in the amount of
$61,200 for January 1947, and1 ,1,6,81 for January 1946.
d Decrease or deficit


Statement No. M-125
JANUARY 147


* '.




r,"" :


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE MONTH OF JANUARY 1947 AND 1946


T BRAILWA OPERATING Nm INCOMi IFEDIAL INCOME DIVIDEiD NET RAILWAY OPERATI NG ICTOM UEmBiAL INCOM DIVIDED
I5OO n TAXIS APPBOPRIATIOBN INICOMIE TAXS APPBPRIATIONS
Region and railway TA APPRPRI SRegion and railway
1947 1946 1947 1946 1947 1946 1947 1946 197 1946 1947 1946 1947 1946 1947 1946


United States Total .................. $57,717.747 $65.912.497 $28.21.994 $29.752.349 $24.631.799 $25,904,352 $5,484,896 $5.501.78 s thorn Region Continued
astern District Total ............... 13.971.492 11.285.314 891.9711 d 1.17.561 5.562.924 2.066,956 2.592,046 2.591.438 Oulinhfield .......................... $755,003 $355.929 54.182 $57,726
Columbus and Greenvillel ... ..... 499 709 $2,580 3,143 500 4,100oo
New ngland Region Total ............. 366.007 1,627.522 d 953.613 384,454 119.453 498,009 18.578 17.976 Florida anet Coast* .................. 562.318 68,450 211.201 337.056 130.000 220,000
Georgia BR.. Losse Organisation ... 21,803 3.1 -
Bangor and Aroostook ................... 158.444 235449 126,358 192,180 54.342 119,300 Georgia & lorida ................... 14.64 8.712 d 70 -
Boston and Maine ....................... 279.887 489.372 d 61.44 172,499 18.000 145.020 Georgia Southern and Florida ......... 57665 80 35.335 16,000 25.000
Canadian National Lines in New v ngland d 71.697 67. 8o d 82,204 Gulf. Mobile an Ohio ................ 276,87 256,601 156,119 159.917 99,000 102,000
Canadian Pacific Lin in Maine ....... 75,686 103.157 Illinois Central ..................... 1.964,659 1,342,269 1,11,.017 502.617 764.000 525,00-
Canadian Pacific Lines in Vermont ...... d 110.596 d 112.051 Louleville ald Nahville ............. 1.553.233 2,141,630 1,426,979 1,724,570 867.600 1.119.620 $2.059.200 2.059,200
Central Termont ........................ d e!9.W 5a 6719 d 1,11 d 20429 6,600 7,200 Misissippl Central .................. 4.386 d 1 224 4 11 5,323 -
Maine Central ........................ 15,799 15.20 .b9 b3.721 15.511 46,489 1.8578 17,976 Nahvaille, Obattanoopa & St. Louis ... 168,709 43,642 83.529 3,761 51.19 19899 -
aw York Conn ectino ................... 34913 135.409 d 2.1 73.826 e Orlans and Northeastern ......... 142.767 105,038 122,077 85.519 85.000 65.000
New York, Nw Haven and Bartford~ .... 17,521 815,610 251,073 25.000 180,000 Norfol Southern ..................... 41,o1o 48.548 11,42 11.346 7,628 7,564
Rutland" .............................. d 127.928 8.218 Seaboard Air Line .................... 1,145,64 1,734,411 801,231 71,499 340.000 425.000
Southern ........................... 1,771.322 2,656,690 898,71 1.734.913 595,000 1.000.000
Great Lakes Region Total ............. 8.045.529 4.594.351 3.053.517 280,97 1.972,572 1.373.455 2.037,021 2.037.026 Tennessee Central ............... .. ...... 2. d 9164 41023 ~ 47281 17.50
Western 4B. of Alabama ............... 16,734 2,582 22,359 9,679 5.176
Ann Arbor .................................. 50350 33.049 32.576 15544 19966 9,527 -
Cmbria and Indiana .................... 66.756 87.295 66,032 85.879 43,486 58.576 western District Total ............. 25.293.373 35.667,013 13,621,106 17.394.119 10.514.477 15.463.278
Delaware and Hudon ....... ............ 5.733 422,649 239,685 233.752 163000 156,000 -
Delawar and Lackawanna and western .... 486.733 567.926 91,570 170154 60,000
Detroit and Mackinac .................... 31,252 22,831 24.708 15.850 9.105 Northwestern Rcion Total .......... 2.779.558 4,863,483 762.875 814,493 682,406 1,832.553-
Detroit and oledo Shore Line .......... 17.446 52,469 99.361 43,559 61.872 31,716 20,000 20.000
rie ................................... 836,033 73,108 217.36 516977 197.725 450 2,017,021 2,017,026 Chicago and North Western .............. 143,356 854.296 ]9 26 380,342 82,000
Grand Trunk Woterotn .................... 261982 d 140 9 Chi reat Western ................ 169.912 1 67 d 176095
Lehigh and HnMuon River ............... 31.647 17,rt60 32.955 22, l 19.858 15.710 Chicago. Milwauke. t. Paul & Pacific 1.471,161 2203,988 628.779 1,09.25 344000 991.000
Lehigh and l e gland ............. .... 86.763 77.265 76,512 65,910 46,894 403.97 Ohicao, St. Paul, inn. & Omaha ..... 32,404 6,317 i 1. 1.1 -
Lehigh alley ......................... 623,09 643,288 112.793 140,648 1.500l 127,000 Duluth. Mtsabe and Iron Range .... ..4 1029.293 d 9 91 -
Monongahela ........................... 193,140 127,937 155.017 89.336 2869 28,692 Duluth, South Shore and Atlantio ... a 6.9 11.13d 8 -
tour ................................ 68,716 58.051 67,398 57,639 41308 35,327 Duluth, innipeg nd Pacific......... 1216 24641 2011
I. York Central .................... 2,161290 99 1 26.317 116.239 158,021 Ort lorthe ....................... 311.040 1.039.234 152,420 27, 2-
Now York. Chloago and St. Louis ........ 951587 57477 773.979 319,798 430,000 180.000 reena B and Western ................ 10,44419,88 9S 12.393 18,000 13,079
ov York, Ont.ero and Western" ....... 2 0 2 .052 109.60 8 219.6 Lake Superior and Ishp.ingl ........... AJ 7808 299 80.482
Noe York. Susquehanna and Western** .... a 3. 28, 48.929 d 17,38 -. Minneapolis & St. Louis .............. 1279 63,835 127.371 5536 8so000 34,000
Pere Marquette ......................... 10,934 215.750 24 705 155,105 80,598 87,441 Minneapolis. St. Pzl & 8. S. Marie .. 4j 8 18.7T3l 4 4 2.11 -
Pittburgh and Lak Brie ............... 36.603 174,580 400,011 173.108 245,156 106076 northern Pacific .................... 1.247,707 1,539.553909 712.105 37.000 436,500
Pittsburg a Shavwt .................... 5.931 39.759 22,783 7.98 Spokan International .............. 10,996 10,937 1.772 866 5.406 974
Pittsburgh & West Virginia ............. 88,520 18,402 50,277 20.617 31,670 Spokane, Portland and Seattle ........ 239,693 61 d
Wabash ................................ 9 98 6671,982 438,505 278.522
3 38.abah..................................-911,- .O 67,9.72 1 0 28 2-- Central Western Region Total ....... 15896,147 22,902,687 11.225,020 12.113.562 8,059,376 11.346.42 --
Central Eastern Reion Total ......... 5,559,956 5,063,44 4 1.207,933 d 1.277.038 3.470,899 195,492 536.447 536,436
Alton*" .............................. 116,426 172.259 90,673 144.573 7305,o 16.51 -
Akron. Canton & Youngstown ............. 84.655 37.908 74353 18,635 45,262 11,326 Atchison, Topeka nm Santa e / ..... 4,429,698 6,613,820 3,946,843 6.043,678 2,526,147 4,076,324
Baltiore and Ohio ..................... 2,735,243 1.258,204 1,034,030 d 61179 398,210 21,000 Chicago, urlington & Quincy ........... 3130,288 5.19.619 2.986,879 4.716.182 1.719.000 2,765,100
esaemr and Lake rie ................. 290,587 58.412 197.301 d 63 111.667 -- Chicago, oock Island and Pacific* ... 1,802,674 2.560.755 761,406 1,453.21 549.000 600,000
Central B.B. of ewr Jere e* ........... d 506.634 d 19.658 I 366.23' 8 DOb.630 200 1,00 Colorado and Southern ................ 4,221 46,37 11.048 18,258 36.829
Central B.. of Pennsylvania ........... 619,2035557 433 800 Colorado & Wyoming ................... 17,7.3 16,744 11,597 10.728 15.000 ,100
Chicago & Eatern Illinois ............. 7,117 29,874 31.514 d 12.682 d 15 0 --- Denver and Rio Grande Western* ...... 157,382 705.,247 o 210,919 4.?700
Chicago & Illinois Midland ............. 113,736 77.214 85.986 500C 5 52,7 30,600 Denver and Salt Lake ................. 156.624 86,422 H5,72 143,688 -
Chicago. Indianapolis and Louisville ... 71.81 18,629 124240 98.952 4.606 Fort Worth and Denver City ............ 121,.48 127.766 40.09 43,905 39.938 6.753
Detroit. Toldo and Ironton ............ o2257 195.447 3148930 15.753 184.900 95.773 Northwestern acific................. 54,575 164.863 40 4 2 49 -
lgin, Joliet and Eastern .............. 75.263 d 30.0 49.315 82.1 270.524 Southern Pacific ..................... 2653,727 2.973,227 243.31 4J ,3 1.029,408 900.614
Illinoi Terminal ...................... 141.466 99,30 94,907 5315 67,200 46.800 Southern Pacific Tr-.nap. System ... 3,539,273 4,401.698 2.289,954 2,975081 1,484,649 1,630,859
Long Island ......................... 803 315 1 95777 467.5 Toledo, Peoria & Western f .......... -
Milsouri-Illinois ..................... 5,710 .87 55.533 470 33,000 28.00 Union Pacific ........................ .050,488 3.875.161 3,336.178 3.242.541 2.050,000 2.500,o00
Pennylvania ........................... 263.798 2.,7.,5 3.36.319 d 32.2081 1,125,083 Utah illwfy ......................... 26932 16,905 20.492 10.652 14,000 7.000
Pennsylvania-Reading Seashore Lines .... d 369, 4f c l h3.4qO 944 1J 44e' 92.93 30,634 29,- Vestern Pacific ...................... 134,021 678251 78,485 562,350 7,000 350,0 -
Reading ................................ 1,063 08 761,106 79,725 722153 519,313 307,553 279,912 279.901
Staten Island Ra.id Transit ............ a 51.965 d 53493 77 d 100.5 Southwestern egon Total........... 6617,668 7,900.843 3,158,961 3.746,064 1.712.695 2,284.683
Veteran Maryland ....................... 642, 573.900 437,456 375.053 325,000 230,000 -
Wheeling nd Lake rie .............. 529.599 316.421 519.279 324.151 317,000 196,000 256,535 256,535
Beaumont, Sour Lake & Wetern"e ...... 11O,986 238,946 129.320 234,406 14.ooo00 1144,000
Southern District Total .............. 18,452,882 18,960.170 14,3098917 13.531.791 8,554,398 8.374,118 2,892,850 2,910.350 Burlington-Book Island ............... d 23 21,731 d 96 .34 272-- -
international-Crest Northern* ....... 9,312 209,788 804 10.565 1,000
Pocahontas eBlon Total ......9....... 8,496,294 7.906.968 7.884,509 7,461.648 4.872.622 4.273.256 an-ess City Southern ................. 536.866 423.522 227.I4 1O0, 000 600-
lansa. O, klahoma & Gulf.............. 95,681 78.941 86.580 69,684 57.471 46,242 -
hesapeake and Ohio.................... 14,191.o9 3,623.73P 3,738.706 3,168.431 2.317,547 1.899.177 Louiiana & Arkansas ................. 203.951 154,663 176.351 79,827 117,000 52,000 --
Norolk and Wtern ..................... 3,013,802 3.177.040 2.994,206 3,276,699 1.850,000 1.750,000 Midland Valley ...................... 26.615 16,623 30,676 19,396 20,450 12,931
Richmond. retdrioksburg and Potoac ... 308,322 456.128 313.418 499,005 192,000 311,479 Missouri and Akansam ................. 14.193 d 411 33
Virginian .............................. 983161 650,066 838,179 517.513 513,075 312,600 Mssouri-Ianeas-Texas ............... 252,059 68,o33 3,150 455,13 40,000 323,000
wisIouri Pacifice ..................... 2155.570 2,038,976 8,146 634.77 300oo,oo 350,000
Southern Reion Total ................ 9.956,588 11.053,202 6,424,408 6.070.143 3,681.776 4,100.862 2,892.850 2.910.350 Noe Orleane, Texas & Mexico" ........ 207,380 33366 1 .9 107.733 106,000
Oklahoma ity-Ada-Atoka ............. 16.43 17.653 14.59 15.541 9.439 10.361
Alabama Great Southern ................ 134,484 103.597 109,055 84,016 80,000 70,000 St. Louis, Browneville and Mexio** .. 245,993 306.685 187,041 242,683 14,000 148,oo0
Atlanta & Saint Andrew a ............ 25,469 2.649 22,415 692 18,225 St. Louie-San Francisco ............ 566,687 779.498 107,731 .1141 115,000 -
Atlanta and est Point ............... 4.335 7,046 8,201 10,238 4,621 d 18696 St. Lou., San rancisco and Texas ... d 16040 88.895 24.1 79.832 -
Atlantic Coat Line .................... 1,039.369 917,919 1.730,357 1.389,125 300,000 350000 823.427 823,427 St. Louis Southweatern* .............. 83.242 ]38.767 68,97 121,356 439,087 80,904
Central of Georgla ................... 11 262.176 d 5.631 d 16.63 13.824 13825 San Antonio, Uvalde a Gulf ......... d 11718 48.670 d 11 d 66.026 -
Charleston & Western Carolina .......... 49,815 d 26 6,686 2. 006 Texas and New Orleans ................ 88556 1,428.,71 657 1,097,66 455,241 730,245
Cincinnati, New Orleans and Tea Pac. 455,323 302 68 309,406 17295 240,000 120,000 10,223 10,223 Teas and Pacifi .................... 531. 789,014 36501 60547 35,000 212.
Texas Mexican ....................... 53.169 34.936 43,770 23.560 6,000 8,000
Report of receiver or receivers. Include Atohison, Topeka & Santa y.. OGulf, olorado & Santa TFe y. aid Panhandle S S


e* Report of trustee or trustees.
d Deficit or other reverse item.
Includes Boston & Albany, lessor to New Tork Central RB..
b/ ormerly included in report of Minneapolis, St. Paul & Sault Ste. Mario.


Data not included in total*. Included Southern Pacific Company. Texas and New Orleans .R. Co., and Ieased lines.
f federal Manager's operations terminated 12101 a.m., October 1, 1945. Filed no report.
U. S. GOVERNMENT PRINTING OFFICE : 1947-0-702097




UNIVERSITY OF FLORIDA

311111 62IIIIIIIIIII I 088 7 INTERSTATE COMM I RCE COMMISSION
3 1262 08851 2057 BUREAU OF TRANSPORT C AND TATISIlCS


lun4'47


Statomnt No. M-12S
FEBRUARY 1N7


UNIV. OF FL LII.



U.. DEPA'ORY

U.S. DEPO(TiOMY


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

Compiled from 130 reports (Form Ii) representing 134 steam railways*
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

SClass I Railways Not in
All Class I Ra ays Receivership or Trusteeship #
Income Items For the month of February Por the two months of For the month of February For the two months of

1947 1946 947 1946 1947 1946 1947 1946
1. Net railway operating income- ..........- ........ $43,128,444 $50,508,900 8 ,170,692 $116,421,397 $38,478,644 $43,114,785 091,158,356 $100,566,498
2. Other income.... .......... ... .,690.27P 1,016,88 8 1 6 12112 14 2 516 25,2 ,221
S Total income-...... ......... -- -... ......... .. ... 5 ;7 6 657,7 5,096210 55,227,55 1 12564,719
4. Miscellaneous deductions from income................. .. ,037,809 2,373,692 .6,319.385 5,027,380 2,976,399 2,301,833 6,189,169 4,870,539
5. Income available for fixed charges.... ............ 54,780,905 61,151,696 14,5o,3036 138,630,374 49,119,811 52,925,831 112,447,703 120,994,180
6. Fixed charges:
6-01. Rent for leased roads and equipment......... 10,746,3 6,55,884 21,349761 21,472,790 10,303,239 5,6,886 20,5,733 20,18564
6-02. Interest deductions .......................... 26,278,58 29,665,659 2,78,876 59,526,924 20,279,268 23,40,193 40,749,237 46, 012
6-03. Other deductions....-.....--- 1-6,57 116,29 .274233,367 124,822 102,708 250,-2 20668
6-04. Total fixed charges...............-.... ....... 37 36 8 4,4 81,233081 30,70329 61, 2 6,
7. Income after fixed charges......................---- 17,619 ,58 4793,224 50.123,620 57,7293 18,0412,482 23,.4534,0424 50:,96 1 53,628,852
8. Contingent charges...... ,-- ....- 002 2,856,912 6,49,601 5,850,353 3,238,002 2,856,912 6,490601 5,850.3
9. Net income 2/ ........-- ................. ... 1;,3810546 21,936312 43633,019 51,56,940 15,174,480 20,597,132 44:471,140 47,778,9
10. Depreciation (Way and structures and Equipment)..... 28,818,102 28,212,756 57,701,8 56,497,936 26,0,187 25,432,240 52,170,157 50,920,856
11. Amortization of defense projects.--------...-...--. --- -------- 1,353,210 485,020 2718,045 967,894 1,19,992 409,666 2,39998 819,303
12. Federal income taxes........................... .... ........ 21,2,868 21,500,283 45,522,583 47,404,635 20,109,824 19,273,572 42,891,375 43 ,844
13. Dividend appropriations:
13-01. On common stock............................ 19,401,271 17,522,679 22,303,898 20,425,306 19,401,271 17,522,679 22,303,898 20,425,306
13-02. On preferred stobk................................ 2,764,928 3,879,986 5,347,197 6,479,147 2,764,928 3,879,986 5,347,197 6,479,147
Ratio of income to fixed charges / (Item 5+6-04)-.. 1.47 1.68 1.67 1.71 1.60 1.80 1.83 1.80

All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship#
ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS/
Selected Asset and Liability Items Balanoe at end of February Balanoe at end of February
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road .......... ...........- ......... -334,376,499 33,088,356 -30,212,823 -28,958,020 Number of Amount Number ofA02t
18. Expenditures (gross) for additions and betterments- reports Aount reports Amount
Equipment-............................. .... .66,311,682 36,071,116 .63,6143,279 32,502,893 reports re
19. Investments in stocks, bonds, etc., other than those February 197 86 32,095,271 40 $17713,725
of affiliated companies (Total, Account 707) ........ 586,100,805 571,549,0 68,991,092 554,672,798 February 1946 78 37,82,223 448 15,87,911
20. Other unadjusted debits....... ........ ....... ... 174.812.87 168.210.968 8,002,770 92.608,270 2 months 19 8 71,043,838 39 27,0,819
21 ;Cash-................................. ......-................9,96 1 1,078,03,915 3, ,621 ,608,3 2 month17518,633661
22. Temporary cash investments ....... ... ................ 1,0,289, 1,6, 622,032 ,9 ,61 1,2
23. Special deposits.-..........--- ........ ----------- 1 ,415.. 156,018,214 ,1,1
24 Loans and bills receivable ............................... 20691 0889 218,108 00 u n NET INCOME-ALL CLASS I RAILWAYS e.,uoes
25. Traffic and car-service balances-Dr.......-.. ..- 50,056028 45,0062 42,561,46 36,197,176 OF DOLLARS or DoLLAR
2 et balance receivable from agents and conductors 1 4 93 1010066915 91,082,63 9 90
27. miscellaneous accounts receivable ---..........--- 288, 82204 47,131232 56,343 7
2 Materials and supplies................. .......... 6
29. Interest and dividends receivable ..--.... ..~ .21... 17, 0 9,028,-- 2,31,661,212 |
30. Aoomued'acounts receivable. ..-. ....--- .. 0 4 86 216-617 2J9 ,206:214 60
31. Other current assets _------- --- 58.207.72 5 2505 S1.19,712 42,529,196
32. Total current assets (items 21 to 31)............. 3,527,701,128 4,323,159,908 3 6,977,629 3.678,177,225 40 4 -
40. Funded debt maturing within 6 months/ ............-. 188,711,514 134,388,195 74,274,796 128.505,658
41. Loans and bills payable /....... ............. 9,392,488 10,35 8 5, 6,5o,000 20-
42. Traffic and car-service balances-Cr.........-..--- .. 108, ,828 15,020,66 ,53
4 Audited accounts and wages payable..................... ---12l 1 6 C,060,23 6,7848,84
Miscellaneous accounts pyable......... ---. ...--...... 150,3, 1006 8 116,802,51
4. Interest matured unpaid............... ....... ... 5,4,014 50,328,639 7 095,134 4042,98
Dividends matured unpaid ..........----,3------ -34 ,63 4,195,98 3,980,127
47. Unmatured interest accrued................................ 77,209,25..4 77 8,8 952,861 76,384,205
. Unmatured dividends declared....... ...-- .............. 39,88,22 39,1 710 34,88,52 39134,710
49. .A.Or.ed o.u.. payable -------.--.-....-----.............---- ,I-,..S,- 1 2 C9A 6 w -40 -40
i .fax d anoo e p...--.----- ----.---------- --------------.- ----............ ... 4 .56,8 2 786,0 5,-4 23 6514J
their current liabilities ...- -- ............................ 10086186 106.80s,57 02,37: 5 00,237,213
2g. Total current liabilities (items41 to ........... 1,654,201,212 2,066,138082 1 46954 1,791,012,163 -60- II -
53 Analysis of taxes aeereda -80 .O9-80
53-41. U. S. Government taxes-..... -- ...-.. 308,046,159 4,66 302,48 51,941,JFMAMJ JASONDJpFMAMIJ JASOND jFAMIJ J AS oNO
53-02. Other than U. S. Government taxes....... .-111010,723 131,3 ~73 ,66945946 1947
54. Other unadjusted credits ................... ...- ... 361,244,027 4119,672,3 85961 395,1


1/Represents accruals, including the amount in default.
&/For all Clss I Steaw Railways the net income was as follows:


Period 1947 1946 Ireae


3 months ended Pebruary $138,549,693 d $ 65,
6 months ended Februry 274, ,
S12 months ended February 280
The net inome shown for February 1946, is after a deduction of 0195,847, taken out of
operating revenues to create reserve for land grant deductions in dispute.
SFor railways in reoeivership and trusteelhip the ratio was as follows: February
1947, 0.88; february 1946, 1.19.


i4/ Includes payment of principal of long-term debt (other than long-tor debt
In default) which will become due within six months after close of month of report.
Includes obligations which mature not more than one year after date of iseue.
Exoludse reports of 4 roads for the month of February 1947 and 1946, and 4
roa for the 2 months of 1947 and 1946, where net inoome (or deficit) was absorbed by
the controlling company.
Excludes Toledo, Peoria and Vestern Railroad, Filed no report.
I Figuree include returns of the Chiog, Indianapolis and Louisville Ry. Co.
which emerged from trusteeehip on May 1, 1946, Seaboard Air Line which emerged from
receivership on August 1, 1946, and St. Louis San Franoisco, whiqh emerged from
trusteeship on January 1, 1947.
d Deorease or deficit


Subject to revision








INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE TWO MONTHS ENDED FEMBRUIR 1947 AND 1946


1 URAILWAY OnZIAfT s m r MAULINo 1100IA DIYAIIDD 5 AILVLA o1nY 1 Oa UOI mam& I1001a DIIDIPD
Ioms VAs A~PIrPrmANION ISOM 2AXPrPOa eOsElS
ason and rw -x I + ion md raIw r
1947 1946 19947 14 1947 1946 1947 1946 1947 i36 1917 1" 4 T 1 9T7 1946


vatted at*$** Tesex ........ ries coastmass


easto. Dstrieot tot ............... 9.696.805 15.11.55.3 6.490.179 10.127.n7 9.175,953 3,601,073 3.931.050 3.969,10

Iow balaA es ton fttal ............. 553,502 3.206,461 4 2.169.1 623.779 384,665 943.655 66,428 651,26

ansmr m A Aroosok ....... ............ 37,049 376.149 309,340 292.319 169.557 11.400 47,850 47.50
eton ma M n... .................... 692.443 91641 95 259,792 65,700 242.040
Oanuanl Ptoaaol Lt aes n evo asnd .a 1 a 12 65,5 a 212,? -
oaulsa Pacifio Lins In tane ........ -
Oa6s6iem Pif I. Line in Term.et ...... 22 0 -
cOntral Teroat ........................ a 6216 106.553 17,030 -~
Main cmntre1 .......................... 336.619 .99 17.959 5.94 133.15 15.575 17.976
ew York Ooneotina .................... 24,520 232.96 109.24 -
ew Terk., an"a eo mA .. tford.. ..... 42,9 1.703.6 512.772 52.910 370,000
atleas11 .......4................... ....i ,- -


reat Lakes lsion total ............
Am Arbor ............................
mbria mad Indiaa ....................
Delawa and Reas .....................
Deluaware i Leaann if Wester ....
Dotroit a Mn klnao ..................
Detroit fd bol4s Shore Lin ..........
Mis ...................................
Oran Tank Iesterm.................
Lehighb ad sdn ivr .................
Le~h and NIr ald -..........-....
Ldhih Vell ..........................
oMaonga la ............................
ontour ...............................
Iw York Oentral jL/....................
Nw Tork. Ohloego and St. Louis ........
Tw York. Ontario mal voteo** ........
Iw York, Supquehana an VWtern ....
Per Marquett .........................
Pittsborgh and Lake rie ...............
ittsbuarg hawut ...................
Pittsburh A oest Virgini .............
Pittsbar.s hammt maN lorthenO ......
Wabash ................................


0ontral astern lion Total .........
Akron, Canton Yountown. ............
Bltimore Id Ohio ....................
Bhoasn er ad d k*o i* ..............
Gontral I.R. of ow JersoOee ..........
Oentral .I. of Pennsylvu la ...........
Chicso & Zestera Illinois .............
Ohlcago A Illinol MidlsalA ..........
Ohbiono. Indi olli an Louisville....
Detroit. Tolodo ad Ironton ...........
2U2n. Joliet ad storm ..............
Illinois Terminal .....................
Long Islad ...........................
Missori-Illinois ......................
PFmnnsrmlv s ...........................
Pennsylvrau -luslad Seashore Lines ...
coding ..............................
Itaton Islad Bad ransit ............
Western al .......................
Wheeling ad aLake ri ...................


21 126 tgy 7 g) 0c ) 3ok 7


.'1455.561 2.426.152


40,000
2,017,021
59.ll





r.~


2.655.212


40.
2,017,


Olichfeold............................
Ooluams and roonville ...............
horieb et Oost** ...................
GeorgeiaS Loose Orgesaton .....
0eon a& nortelas ....................
Oeorss Southern ana lorda ...........
Olt., Nobile ma Ohio ................
Illnals OCntral .......................
Imaou ile ad lNahvrll ...............
Mississippi Ontral ...................
sNshvllel. Ohttanoos a st. Loni .....
Iw Orleas ua loertheaster ..........
orfolk Southrn ......................
Saboar Air Line .....................
SoUthorn ..............................
f eaes- central .....................
Western r. of Alabam..................


$1.362.M4
12.641
1,035,147S
1.191

629,181
3,906.165
2.937,135
25.699
286.515
251.363
71,013
2.000.616
3.650,176
A oooYIII


$867.853
7.871
1.222.511


4714.95F

639
477.145
.159
3, 0"
5, 42,.r
. 49 *&


$16,601
347.394



2.336,411
2,535.221
6,501
103.35(
209,271
12.171
1. 612.14
1.842.173
J f S


12,27
5)42,3w
^-

274,071
2,329,221
3.925.02



12.01
3.315.192
l5:I:L9


500
220,000

16.000
241.000
1.513.000
1.557,900
8.815
6. a
145.000
,7.620
690,000
1,270,000


1423.245

52.OOC
174,.000
1,505.cot
2,531.5)



150,000<
a.aoo.,o
d 12.691


*a2osg. 200


(9,.50





2,059.200





17.500


S etern Di.triet Iotl ............... 4.47.135 62,377.116 25.030o. 34.330.43g o.5,957 26.443.677 10o.75,932 10.7441,96

S orthmsten R. son total ............ 3.519.261 6,765.933 4 3.6i 1,g a.09M. 1.0o&.741 1.516.56 9914104 1.646.97
000
026 Ohiago ad North Wetern .............. 6 1,4 61. 52,90 52,000 1,143.159
blono Great Westen .................. 3 6 a 26 .044 22s
hione. MilUwank. St. Panul a rPaiin 2,6.340 9 .329 699,000 -
Ohiaos, St. Pal, MWina. a On ....... A .937A 2M .2 da 5 62.7.
a D Mth, Miabe a Iron Iae ......... 4 .
Dauth South Uoem ad tlA ota .....1
SDaluth., Viang andl Pacifio ........... .31. -
ront northern ....................... 6057 1.5. ,00
Green and Wsern .................. 42056 26. .67 3047 31.169 125000 125,000
Lak Suprior ad Itbpe"s" ........... 114 .0 9.754 -
Minnesplls& St. Louis ................ ,93 170.901 70,000 150,000 150.000
Miaepoli St. PoMa a. NM e .... ,33- 719.104
Northern Paific ...................... 3. 22 44,000 347.700
OpokeIn.tnat9ul e5.................. 21,739 20,675 372 1.51 5.406 1.959
Ipokmme, Prtlueni a ttl. ... ... 4a,602 67. 27 39
Vioonsin central *s ................ 231.396 267.164 a 47.16b
In


59 loo


1.24s. 02


9entrsl vWetern lsion Tote .........

Alton'* ...............................
Athison. Topk eka d s ts a o ta .......
Ohi cgo. arlingt" A i. ...........
Ohiroo. Nook 1 A mad Pilftle* .....
Oolorto mad Imther .................
olorado A oala. ......................
Denver ad Rio Oranmdi estrn ........
Deaver ad Slt Ltke .................
Fort Worth i Dnevr OCity ............
lorthetern Pacifio ...................
Sou rn Plcifo i ...................
Southern Pacifo frmp. Syst)r .....
Toledo, Peoria Western / .........
union Placifo ..........................
Utah tllir ...........................
Western Peoift ......................


Southwestern Buas ot.l............
Iauaont, Sou Lake &Wsterp** ........
aurlincton-Sook Iland ...............
ternoatiol-reat Northerne ........
Lease Ocr Southan ...................
Iones OclshomA &0 .................
Louislna ALka sS ...................
Midlana TVlle .........................
Missor and Arkasas ..................
Missouri- eosa-Texs .................
Missour Plfico** ....................
Iw Orlens. foxu Mieso** ..........
Okldahom Oity-A-Atoka................
St. Louis. Bownevillo sda N aoo....
St. Louis-San franoisoo ................
St. Louis, San hranoico an exa .....
St. Looe southmeste ...............
Can Antonio, Uvaldie Suit* ..........
Tzu and NwA Orleans ..................
Texasu a Paoifi ......................
exas Mexican .........................


30,539,400

235.555
s.050,969
3.12.08
106.345




5 2.145
216,393



6,0294
51.471
7,675.,


39.543.237






152.157
209.111
A IUA.2


7,753,454

1,161,


21,4U1.05)

180.383
6,907.397
5.703.099
1.009.173



4 1U714


5.0331

6.71;


27.720.619
14.490
l0.537.322
to.5y,
7.71?.7


67.185
35.110
a ril9.T2


44,1412.651

69.66669
933.245


15,737.730
34.107
4 714.156


53.00



3.613.6e5
39.100





4.100,000
26.500
7.000


20.069.634

32.903
7,111.642
4.667.300
1,26 .200

7.100
133.900





14,.800000
13.500
572.000
10e37

::.:.i


9,091.990









3. 772,763
3.772.763
5.325.227


13.9s5,1474 16.067.9Y46 7.095,5251 .ro7.o6 1 4,063.46 4.5,51.457 63,.3


31 .660
17.793


405,075
57.192
3 W1.a


.1 uf


4,.301,862
526.102
24.822
464,114
1.325,.451
55.844
1.557.624
a 21k L92R


450.373
62,512

a94,324
lo,573
350.135
d 4:93


tia 'a.


4.575.116

54.340
1,418,29
64.49
943.4V
A 7.6


295.372


177.560

a 0o-401


At IOV


1.670.,51
77.352

31.519
1.1 49.696
A 2140.214'


506.
439,521



200,670
16.6s
a 47.0Tq


893.0
1.752.653
205.75
23.6a
S ,no

51.84I
a 99.,


2.097,2001 2.53,B10 1.~1.623 1.8,7
,073145 1.59262 729 1.26.156
,422 4.664 66.11 41,979


47.500

370.000
232,000
117,40

ts.,ooo
590,000
12.399
56.50C
372,000
15,000
U27.742

1.1,1063
12,00C


269.000
1,000
235.000
78.516
136.000
11,125

635,000
900,000
238,000
15.757
260,000

26,44
1,2s6.1s9
560,00:
16,000


I ncludeul thlion. Troplen ta san .. V.. Gulf. Colorado A nuta Fe 7.. a naNUle a sawa 70 .
U1 Data not inluded In totals. InolJe S 0outeram Poifle om fxeas mad nev Orleas M.L Co., ma lused lines.
t lodoral Muacnr's op*ratios torinated 12s01 am., Ootober 1, 1945. Fld no ropt.


*







-i
-I


9.097.990









3.772.763
3,772.763
5.325.227


2.655.207


, 5
1 1


:I i~ToNW6I 1.80011 P5si 9iI


5.97.1061 14.418.53,8 7.625.97Li ..53.11


112.67 2g,394
1.02. : 1
d 3501 0.6


._ &55 O R, .. I .'5W*
ILL 5I M OOLL im!~


45.623
110.295
23.000
21,104
125.745
266.337

145.
ks, 863
119.
57.3"
78,373
255.971
750.000

94.662
451.13
56,593
so,0352


.


65.593
201.110



117,000
1,606

114,000
76,000
1.666.0oo
1.26?


14.415
42.000
2,400

63.400

167.396
55,100



675. 12

391,000
n1,00


699.61s

5 .27


6A


909, 71


Soth.rn Distrot ft .............. 34.056.752 35.925.721 25,093.35 27,344.412 15.460.643 17.359.851 12.94.o03 12.169.~5

Pocaboate msion fetal .........1.... 14.955,279 15.323,017 13.761.051 14,400,938 1.492.379 .2.9649, 10,041.011 9,259,22

Ohmeapeke and Ohio .................... ,1439.058 7.267,ss 6,50 73 6.359.310 4,047,s69 3.50.470 5.743,015 5,743.01&
orfolk ad Vestern .................... 5392,260 59, 5345.677 6.102.867 3.275.000 3.250.000 3,516.208 3.516.20
iatchmeni. Fredorlcksurg ad Potooma ... 4,99 66.522 513.376 930.359 31.000 578,479 -
Tirgnim .............................. .674.962 1. 39 1.392.125 1.00, 54.510 609.700 781.79
v~r~ .aI 6 96 x~s, ,3 ,1 -


Southern sion fo'il ................
Alaban Great Southern ................
Atlsnta Saint uAdrews r ............
Atlanta ad West Point ................
Atlantio Coaot Ln ...................
Central of Georgti ....................
Charleston A VWeter Oarolin ..........
Oinoinnati, No Orleuns ad Toeu Pae. .


19,06.4741 23.602.711 11.332.331 12.943.4741 6.96.264 9.071.236


* Sport or receiver or receivers.
Report of trstoo or trustees.
Deficit or other revoroo t11e
/Incolues Boton 6 Albany, lessor to Now Tark Central L..
Formrly nooluded in report of Minneapolis, St. Pul & Sault Ste. Marie.


134,000
36.245
500.000
27.949
5.000
470.000


125,000


27.649
275,000


S 2.903,072 2.930.4_


823.427

20.445


523.427

20.4155


SI I I I I I A 4 _I


U. S. GOVERNMENT PRINTING OFFICE : 1947-0-702097


20.216
115.413
262,000
75,172
60,665
900
35.162
;,605


302.343
267.000

106,565
l14,095


5 336 159 231,266


12.:5
91.


217.0ss
1,470,455
1.503:

100,479
1.124,1411
304.051
130,773
1.272,5147
1.727.7 49

593.232
549.737
lookst1

166.777
..:13T


6s,626
171,561
1.061.556
25.760
106. 9S


16 .


20.
31.5:


76.436
23536
a 17 7


76,.16
40b
55.606
201.97
226,596


213.056
227.371
125.155
S 1 4.L11





A 951
a t r


32,95
16s,93
393.576

85,921
S 1.079 17

139,672
291.621
185,062
92,861





s- a
239.243
12,61
MR 7.
55. 57d


141,325

a:EE


1;123.175
42.579
245.340
ISOM


d 1,574,285


66,551
2.043.961
3664


19.715


a 660 A11


Vfnew

a ? 1. Zl
7143.672
156.353
A 1.2.7T<


&gs, a


960.,91
Si5ii


144.7


S a ..l .J


a 46,


a9.0 7


955.536
c .,- [J
qago
9 .01b


242,675
51,100



60.779


206.984
10,581
18.552
1.887.265
346.0C6
---W9


168:291
5,7.24
23,224
2,212.572

4 11
4M.3M8


191.641
44,4l4
d 2.471.10

5712,066
571.o00


AU?,tAU
.1 .
,dlq


:I 32.11 R 50.-l N07 a. Q.


-T--


i


-r


------ ----------------- ---- i -- i i i -- i -- i I


iL


i


1


NLL--i-'12i~


..If


I, ...MI.I.I.A.R.......


IA


5.1


I


51


..I


__


,


-


_I


ML


,


"I


-1


Rl signa


R


3h


th


.1


.1 .. T ... ......


.1


-1


11


Al!


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SSubjet to revision
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UNIVERSITY OF FLORIDA

IIIIIIIIIIII IIiIIIIII INTERSTATE COMMERCE COMMISSION
3 1262 08851 1844 BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
MARCH 147


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

Compiled from 130 reports (Form IBS) representing 134 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

1947 1946 1947 1946 1947 1946 1947 1946
1. Net railway operating income ... $72,781,810 70280 $1-74,o95,168 $110,718,525 $65,170,364 a 268 156,471,386 97,239,71
2. Other income 14,160,037 43,839,039 41,138,406 12,506,097 1 95b 25 39,984,616 38,25,490
3. Total income ...86,941,847 8,199,174 217,934,207 151,856,931 77,676,461 9,629,478 196,456,002 135,494,200
4. Miscellaneous deductions from income.. .. 3,245,235 2,356,206 9,564,625 7,383.587 3,175,.05 2,288,602 9,364,578 7,159,141
5. Income available for fixed charges 83,696,612 5,842,968 208,369,582 144,473344 74,501,056 7,340,876 187,091,424 128,335,059
6. Fixed charges:
6-01. Rent for leased roads and equipment. 11,004,423 6,5,905 32,3,186 28,021,697 10,592,385 6,026,342 31,078,119 26,211,992
6-02. Interest deductions1_/.... 26,198,5 29,699,675 78,981,308 89,226,597 20,170,566 23,456,069 60,919,801 70,431,081
6-03. Other deductions.. .... .. .. 136 117,914 10,91 351,281 125,119 103,166 376,110 307,834
6-04. Total fixed charges...... 339301 36,366,494 111,745,985 117,599,575 ,888,070 29,585,577 92,374,030 96,950,907
7. Income after fixed charges.... ........ .46357,311 d 023 26 96,623,597 26,873,769 43,612,986 2224401 94,717,394 31,384,152
8. Contingent charges ... ...-- ... ... 3,21 0,368 2, 7 9 700,968 8,750,073 3,210,368 2 9,71 9,7oo,968 8,750,073
9. Net income ...... 43,146,943 a 33.4231247 86,922,629 18,123,69 40,402,618 a 25.144.422 85,016,o26 22,634,079
10. Depreciation (Way and structures and Equipment)...... 29,364,531 28,579,695 7,65807 85,077,631 26,591,428 25,780,192 78,761,49 76,701,048
11. Amortization of defense projects.......--------- 1350,401 677,127 4,068 446 1, 5,020 1,192,178 601,054 3,592,163 1,20,356
12. Federal income taxes.. ---- ---- 30,69,999 23.440.594 76,144,417 23,964,041 28,763,931 21.655.264 71,627,140 21,b06,580
13. Dividend appropriations:
13-01. On common stock ................................ 12,152,596 21,227,792 34,456,494 41,653,098 12,152,596 21,227,792 34,456,494 41,653,098
13-02. On preferred stobk ................... 2,572,569 8,305,860 7,919,766 14,785,007 2,572,569 8,305,860 7,919,766 14,785,007
Ratio of income to fixed charges/ (Item 5+6-04).... 2.24 0.16 1.86 1.23 2.41 0.25 2.03 1.32

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 March Balance at end of March
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road.................................- .... t52,388.304 850,302,611 .$45,437,994 $43,310,460 Number of AmNumber of
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment ...... .... ... ......-----.......- 101,441,604 51,173,825 94,657,871 44,904,836reports
19. Investments in stocks, bonds, etc., other than those March 19478 4,970,547 28 R82,60
of affiliated companies (Total, Account 707)..... 573,526,223 589,315,77 56,414,934 572,435,162 March 1946 42 11252,949 84 67 96
20. Other unadjusted debits. 173,867,881 1 76 69 108,622,27 95,515,365 months19 88 118219,113 37 26,484
3 months 1946 67 72,889,255 59 54,765,559
21. Cash ...-............................ .. ................. ... 930,405,928 9/4,676.523 816,584,159 848,208,009
22. Temporary cash investments ---.-......-..-... 986,61,092 1,520,061,905 779,874,204 1,226,924,602
23. Special deposits...............--- ...............-.. 147,501,626 179,706,139 134,319,300 165,399,544
24. Loans and bills receivable- 255,596 464,100 252,034 4386 MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
25. Traffic and car-service balances-Dr- 56,679.936 53,790,699 48,471335 42,935.44 or DOLLARS OF DOLLAR
26. Net balance receivable from agents and conductors 132,555,753 05,094,606 120,673,850 95,597,821 90 90
27. Miscellaneous accounts receivable 287,068,50 39,661,759 237,986,O91 331,757,37 oc so
28. Materials and supplies ...... ..... 709 ,710 6618,39 638508,326 551, .19
29. Interest and dividends receivable .. 16,850,024 28 581,655 13,792,184 24,2,444
30. Accrued accounts receivable .. .. 166,822,084 21,093.502 142,611,810 206,230,891 1 ____60
31. Other current assets .......... 9,602,555 8.3 52,783,497 41,751,587 60- I A
32. Total current assets (items 21 to 31) ..... 3,494,093,754 4,157.087,860 .985,856,790 3,534,946,598 40 .. 40
4o. Funded debt maturing within 6 months 4/ ....- 179,928,180 122,735.563 173,520.712 116,053,98
41. Loans and bill payable/ ...8,635,000 10,604,058 1 5,150,000 6,750,000 20 20
42. Traffic and car-service balances-Cr. 89,2,998 126,088,591 76,224,720 10,268,946
i.Audited accounts and wages payable .... 447,2 ,091 71 41,426,524 396,229,115
Miscellaneous accounts payable .-......- ......... 203,81,36 163,67,7 167,702671 130,896,91
Interest matured unpaid ....... .. .....,1 5 7967,160,o98 7,0 ,72
Dividends matured unpaid..... 16-,112,4 ,189,38 15,8,98 4415,913,832
47. Unmatured interest accrued ..-...-.... ..... -9,399,-14 56,63335 57,8104268 55,259,828 -20 -20
. Unmatured dividends declared ...... 0, ,104 35,848,60 20,732,104 35,88, 630
4i. Accrued aooounts payable ..--.--.. ................. ....-- .. -,-98,266 310,501,383 130,991,651 6 270,139,594 40
Taxes acrued 4-6,593,252 666,178,010 404,716.,264 559,751,224 40 -40
Other current liabilities ........... ------.... .93 ,74,086 124,811,040 70o6,;47 117,172,000
52. Total current liabilities (items 41 to 51).......1 1,607,825,696 2,031,013,088 7,432,469,695 1,772,060,811 -60 -------------- -60
53 Analysis of taxes aoosueds -80 I -80
53-01. U. S. Government taxes .-.. ................... 331,504,422 535,512,930 A 303,838,300 453,a884,08 J F MA s o FM M J AS 0 NO FMA J AS ND
53-02. Other than U. S. Government taxes. .. 115,088,830 130,665,080 100,877,964 105,867,136 1945 1946 1947
54. Other unadjusted credits... .................. ..... 352,780,947 430,592,135 306,442,271 370,633,071


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


Period 1947 1946 Increase
3 months ended March $86,922,629 $18,123,696 $68,798,933
6 months ended March 278,892,110 d 6.279.15 285,171,285
12 months ended March 357,333,400 319,228,64 38,104758


I
rt


/ 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 one year after date of issue.
/ Excludes reports of 4 roads for the month of March 1947 and 1946, 5 roads
for the 3 months of 1947, and 4 roads for the 3 months of 1946, where net income
(or deficit) was absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the Chicago, Indianapolis and Louisville Ry. Co.
which emerged from trusteeship on May 1, 1946, Seaboard Air Line which emerged from
receivership on August 1, 1946, and St. Louis San Francisco, which emerged from
trusteeship on January 1, 1947.
A Decrease or deficit.


UNIV. OF FL LI.
DiocUMENTS DPTi.

U.at DEpO1t


U.S DE.POiTOMY _
iiiu^w~ ""--= --


The net income shown for March 1946, is after a deduction of $196,487, taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways n receivership and trusteeship the ratio was as follows: March
1947, 1.4J; March 1946, ; 3 months of 1947, 1.10; 3 months of 1946, 0.78.


'i
ib







INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE THREE MONTHS ENDED MARCH 1947 AND 1946


N a MAILWTY PERTI N_ INCCE tIERAL IICOME DITIDND I RAILWAY OPEATING ET INOC FEDSBALT INCOME DIVTISD
INCO M TAX s APPrOPIATIaiS INCOSa TAXES APPROPIATI0NS
Region and railvy Region and rail-wa
947 46 1946 1947 1966 1949 1946 1947 1996 1947 1946 1947 1946 1947 1946

United States Total .................. 174.095.168 $110,718525 86,922,629 18,123,696 $76,144.417 2,964.041 $42.376,260 $56.438.105 Southern Region Continued
Eatn itriot Total .............. 39.891,496 11,593.009 1,067.504 d 26.326.479 15,42,704 771497 11.849,090 18,498.543 linhfiel ............................ 2078, 1.234704 162.544 173.181
Columbus d Greenville ................ d 71,058 14,402 4 66.1 20.990 1,653 17.04 9,80
w ngland B on Total ............. 2.172,953 679,243 d 1.989.653 d 2.998.549 962,672 5046 66,428 65,826 loridalast Coast** ................... 1,718.763 691,922 275.000 523.245 -
Georgia R. R.- essee Organization .... 59,31 -
Banor and Aroostook ................... 809,100 629,611 689.975 500. 405,914 309203 47.850 47,850 eorgia & noria* ......... ........ 1.6 2 1 201 -
Boston nd Maine ...................... 1,320,839 410,368 289,35 57 301 70.105 eogia southern and loria ........... 78 13810 6,000 50,000
Canadian National Lines in New England d 206 9114 31064 d 257,3 Glf, Mobile and Ohio .................. 1,028,16 275,646 662053 2 41,000 -
Canadian Pacific Lines in I ........ 311.669 21764 Iinois Central ....................... 6,889,472 3,828,530 4.528,479 2,897.000 1,152.000
Canadian Pacific Lines in Vermont ...... d 8 Louisville and Nashville ............... 4,938.380 4,961.959 4,360,13 3.817.310 2,800,000 2,614,260 2,059,200 2,059,200
Central Vermont ........................ 681.40 17.153 2430 Misisippi Central .................... 46,508 22.325 18,969 9117518 -
Maine Central ............... .......... 530.317 250. 62. 157,385 80,698 18,578 17976 Nashville, Chattanooga St. Louis .... 452513 6059 171.676 128,220 16129
New Tork Connecting ................... 75.54 358 6 10 16897 Hew Orleans and Northeasten ........... 422,069 90.47 360,202 13425500090000 -
Nw York, new Haven and Hartford ..... 44. 9 1 280 4 61 1903.263 80,820 80.250 NorfolkSouthern .................. 104,935 37.190 13.55 6 762 -
autlana*e ..............................i 2178 1 7 Seaboard Air Line ...................... 3,157480 3.585290 2.206,519 955.000 500.,0 -
Southern ................................ 5604 5.592,851 2.9.158 l, 2,170,000 1,870,000
Great Lakes Region Total ............. 20.756,535 6,678,599 6,774.506 a 8,345.581 6,210,118 d 7.396,272 3.463.123 3,282,846 Tennessee Central ...................... d 26.550 d 30.252 82221 d 6 14 6 17.500
Western of Alabama ................. 53,590 7, t .757 4 -
Ann Arbor ....................... ...... 191.580 67,279 137326 12,641 86,313 10,219 --
Cambria a nd iana ................... 145,200 243,677 2660 239,676 141,800 168.084 60,000 60,000 Western District Total ............... 79,206,577 56,858,606 44,930,426 19,636,865 34.775.749 13,24,063 17.568,874 24.957.906
Delaware and Hdson ................... 1,505,215 839.721 1,7b,767 244,54 743.000 -
Delaware, Lackawanna and Western ....... 1.725.562 1004.337 72,629 a 229 32,6 244.560
Detroit and Maakinac ................... 97.230 20,472 71.587 395 1 000 Northwestern aRegion Total ............. 9,284.093 1,018,663 4 1443.190 410.g12.495 2.338,082 1 2.985.356 1,11,6814 9,231,69
Detroit and Toledo Shore Line .......... 359576 148,999 334.50 121.396 207.956 81611 60,o00 60,000o o- .
rie ............................... 2,532,298 76.137 636.991 1 0.33 589761 1350 2017021 2,017026 Chicago and north Western ............. 175.855 a 49.90 193442 1 004 1.143,159
Grand Trunk estrn ....................... 936.774 d 9 18 Chicago Great Western .................. 640,578 4 591 9 o, 4 52.0 228,819
Lehgh and a dson River ................ 108.858 64.798 113.7 I 72,919 47,486 47,070 47,070 Chicago, Milwakee, St. Paul & Pacific 4,.885.192 4.371 0 2327.393 1. .1 144200 3,037.000 5.608,700
Lehigh and ow ngland ................. 233386 246,2 21.438 211,302 123,745 129,508 Chicago, St. Paul, Hinn. O a ........... 176,493 84 397.488 4 1. -
ehgh alley ......................... 1,623,892 1,526,669 301,935 235 86.000 Duluth, isabe and Iron angel ......... 29.8 d 2.7 5 3.3 -
Monongahela .......................... 545 401,2 429910 86,075 lut south Shore and Atlntio** .. -
Montour ................................ 191 10 187,919 18721 115,003 8,31 Dluth, Winnipeg and Pacific ........... 62 28 d 30543 979
New York Central / ............... 2,010,63 49,33 3009770 62 403.215 74 .136 Great Northern ........................ 756,704 76 915.7a -
New York. Chicago and St. Lois ......... 2,797.530 926 231 2 ,7 1,25o4,000 39.o00 54o 360.564 reen ay and Western .................. 95,675 1320 13. 3. 47.819 42.7 125,000 125,000
eow York, Ontario and Western** ........ d 25.2 6 9 a 61 4 128 Lake Superior and Ishpenin ............ 229.178 236.767 d 226. 7 d891 9,5 53550 107,100
ew York Susquehanna and Western .... 1 nneapol t. ............... 290, 15000 150000
Pore Marquete ......................... 1,089,583 3 2 0 1400,000 Minneapolis, St. Paul & S. Marie .... 106 4 16 719104 1,797,760
Pittsburgh and Lake Eri ................. 1,286000 441950 1,089, 92.3 667.599 331,18 Northern Pacific ....................... 4.036.647 1.3. 604,000
Pittlsurg & Shawmt ................... .94928 895198 7 4 6 Spokane Intrnational .................. 37.290 30,874 8.303 .8 5,406 79 71.160 71,160
Pittsrgh est Virginia ............ 280905 1539 163 102,Spokane, Portland and Seattle .......... 429,316 11,098 28 26.8 2 d
Pittsburg, Shwamt and Northern*e ...... d 05 d 20 d Wisconsin Central s ............., 22,57
Wabash ........................ ...... 3. 9899 1.58 59 1.428,903) 27 08 598,186 59C.18i t _______ _
central Western Region Total ......... 47,677,019 37.985.748 33,887.532 25,122.947 25,290.762 15.009.193 15,556.222 15.516.20S
central astern Region Total ......... 16.962.008 4235.167 3717349 14,982.3491 8.669.914 d 539.711 8.319.539 15.149.87
Alton** *................................. 380.333 4 298,952 5li49,354 -
Akron, Canton & Toungtown ............. 239,630 77.Z53 192,024 20,011 23 8,877 86,493 39.418 Atohison, Topka and Santa Ps g .......11.54,477 3 9,40366 7,111.829 8.141,219 3,40o.590 3.640,590
Baltiiore and Ohio ..................... 7.556333 d 1.557 1,867,071 4 0263 a4 9291 hiaago, Burlington & Qiny 9........... 869 350 9.733.544 8.957.58 8,47052 560,700 5,98,40 -
Bes.emer and Lake Ertie................... 7 781 466.083 2340 Chicago, Rock Island and Paolfic** ..... 5 188 379 4.025 856 2, 6 906.553 1 3o 68662 -
Oentral Ra.. of New Jersey* .......... a .681d 53.943 a 9 3600 Colorado and Southn .................. 173.59 21 77318 1 132.363
Central R.B. of Pennylvania ........... .112M31 2,600 olorado a Wyoning ...................... 88.732 d- 70.154 e 54100 7,100
Chicago a astern Ilinois ............. 132.537 54 .1- a 6 .84,80o 383,863 Denver ad Rio raGr Western** ......... 1.330.975 -- 2.240 -
Chicago a Illinois Midland............. 385,402 304,303 29 183400 72,500 Dever amd alt lake .................... 385,406 17,314 B 7 -56 -
Chicago. Indianapolis and Louieville ... a 4 158.462 d 129.81 4 3 692799 14,606 Tort Worth and Denver City ............ 307813 77,6 49 4 19 8 63,8 -
Detroit, Toledo and Iront ............. 96,U5 397.14 5 664 516.578 175.015 -- Northwestern Pacific ................... 132,119 26600 1A3 -
Egln. Joliet and Eastern .............. 1.394.128 o 1 3121 5 830,112 thn Pacii....................... 8.1763 4.303.821 6000 3.772763 3772,763
Illinois terminal ...................... 405.936 1., 67872 6o 191.500 64.400 90,000 Southern Pacific Transp. rtem e/..... 11,740,736 7.333,036 8,989520 3.308.35 6,289,962 r 3772.76 3,772,76
Long Island .......................... d 2032.251 930.505 295001 d 1882 Toledo, Peoria & Western l ............ -
Missouri-Illinois. ..................... 995 1 123,000 77,000 Unihon Pacific ......................... 9,663,119 7,075,182 10,917.323 5.4 .619 6,600,000 3,200,000 5.325.227 5.325,227
Pennsylvania .......................... 1.317456 4 779 358 d 9 3 2.456.751 .6,583877 13.167.754 Utah ai ............................67.919 53.396 48692 3,615 34000 21,500 -
Pannsylvania-eading Seashore Lines ....d 91. ,7 2900 Western Pacific ........................ .489 991,156 169.817 717,047 7,000 572000 2,817,642 2777,628
Readin1.79.7...................... ....4 55493 1,049.342 1,09,00
staten Islan Rapid Transit........... I 1 2 -1 Southwestern Region Total .. ........... 22,245,465 17.854,195 12,486,04 5.326.913 7,146.905 1.240,226 893.838 210,000
Western Maryland ................... ....13593 .24388.832461.3*e7b*923.000 55i,000 .
Wheeling and Lake rie ................. 1,631.900 599.195 1,583.054 62500 968,000 370,000 509.827 509. 8 enmont, Sour Lake a Wstern** ........ 578,428 717275 537.537 700.709 162.500 269,000
suulingon-Rok Ie lan ................. 116,348 74,205 27160 -
Southern District Tota .............. 54,997,095 42.266.910 40,924,699 24,813.310 25.525.964 18,071.475 12.958,296 12,981,656 International-reat Northaen** ......... 93.527 36,750 -
Zansa ity Southern ................... 1,652,991 1,222.3552 1,2 7, 690,000 325,000 210,000 210,000
Poosa.otas region Total .............. 24,124.39 19.504.13 22.162.320 18.390.949 13.580.77 11,074.559 10,0l41.011 10.01,011 I onsas, sahroma & ulft ............... 322,70 182,129 291,3 66 88.511 97,470 --
Chesapeake and Ohio..................... 11.84.13 9.678.669 10,342, 9 8,308,022 6,431.682 .039,299 5,7 43.015 5,743,015 M dl VaM e ..................93. 3 69 37 70 6,69 5800
orfolk and western .................... S.884W, 9 7.015.805 8,8104,034 7.541,683 5.300,000 4500,000 3.516.20 3,516,208 Miassouri and Arkansas................... a 573 d 53667 6 d 41
Norgoiniand..estern...........0. 0 M"2a96.................... .
Bichand, Predsricksburg and Potomac ... 872,609 1,0.011 915.229 1,122.169 562.000 678.220 .. 333.000 495
irini .............................. 2512748 1,765728 2094,60 1,9,075 1287,095 85740 781.788 7817 Missouri Pacific ..................... 6,192,61 4,72,596 2,791.507, -
New Orleans, Te & Mexioo** .......... 83131 925.317 159,932 249,945 48,000 28,000 -
Southrn Region Total ................ 30.872.705 22.762.697 18.762.379 6.422.361 11.945.187 6.996.916 2.917.285 2.940.645 oklah m City-Ada-Atoka ................ 30,995 23,028 2043 13.193 15.677 8,795 -
St. Louis, Browneville ad Mexio**c .... 78617 797,959 641.3 608,300 194,500 260,000 -
aaa at h .......... ... 20 106,91 27707 8282 19 4,000t. Louis-an rancisco................ 2,222,04 26 .J 86 903.3 3 .063 15 120- -
Atlanta & Saint Andrews ........... 86,18 1,091 76052 12,252 60,4 7,509 St. Louis, San Prancisco and Tas ..... 96859419 70, 69 ,7 39000 46 -
Atlanta and We.t Point 2 1 770 25,6 29, 73917 St. Louis Southwestern* ....... ...... 2 ,979 1.1 4,28 1 .6, 519,1&4 1.3 6 205 -,
Atlantic Coast Line .................... 31712 4326 827 7 8 7 an n U e a ** ... ... ...
Charleston & Vaetern CarolinaM .......... 167,b0 .7 09 3 :, Tex39 ml1 Pewd..ie .,i iii65 i19 1'Q 106,$a 9 681l838
Cininnati, ew Orleans ad Texu Pac. 1,382,14 9 5 7 7900 15 30 30.668 s io ......................... 183,749 60589 151105 2 3.408 180 iOOO

SReport of rceiveror receivers. Inol s on, lop Santa 7 ., l Co orao Santa e
R Mr.uan lanhaore A h15 To s.


Report oa trustee or trustees.
d Defioit or other reverse itm.
a Inoluoe Boston & Albra. lessor to New Tork Oentral R.R.
P or mrl included in report of Mineapolis, St. Paul & Sault Ste. bIrie.


SData not included in totals. Include Southern Pacific Company, Teza and Ne Orleans R.R. Co., and leased lines.
S federal Manager's operations terminated 12:01 a.m., October 1 1945.
U. S. GOVERNMENT PRINTING OFFICE : 1947--702097




~c ^T& 34: 4-1


Subject to revision


UNIVERSITY OF FLORIDA

11111111111 IIIIII II I H11111111111111 IIIII1111111iii 111
3 1262 08851 1851 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

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


Jull8'47
StAtent No. M-125
APRIL IN7


UNIV. OF FL LIB.
OCgUM5ENT DEPT.
u
IAI. a

U.S. DEP0MT, '


Compiled from 128 reports (Form IBS) representing 132 steam railways *
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

Al Clas Raias 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 four months of
___1947 1946 1947 1946 1947 1946 1947 1946
1. Net railway operating income ........... ................ $58,409,866 010,725,812 832,505,537 $121, 90,723 $51,508,321 87,366,656 (209,310,681 105,746,423
3. Total income....... 7567 565 5,75 25,034,6 293, 67,668 175,914,916 67,726,2 20,580,208 265,676 366 17
4. Miscellaneous deductions from income.. ......... -- .......-.... 3,395,393 2,237,076 12,960,q8 9,620 2 3,253.4 2.149,32 12,618,604 1 30
5. Income available fofixed charges.. .. 7279,972 22,79,93 280697650 1 294254 6,4, 32 18,330,36 253,057,762 1,0,5
6-01. Rent for leased roads and equipment ...... 10,286,466 9,71,6 2,569,672 37,688,279 9,907,25 9,28,282 41,6,747 3,18
t it 0 lJ7 6 0~2 2,424 98~ 9 lj5 i
6-02. Interest deductions / ..................... .. 2579529489,11 10 63360 7,603,070 20,322,4 23,75 4 81,74 5 9 71
6-03. Other deductions .-..--...........5, .... ---- 139,402 1422118 :5 17 o2:1 10 6 6,051:4 41
6-04. Total fixed charges -----13, 0 1.......... 11, 9, 14, ,9 1 ,2 3 10,54 50
7. Income after fixed charges........ -... .. .. .. 6.o 3 a :391, 11,907 .17 1 6 88 129 792 826 2 8
9. Net income 2/..... ..... ........... .... ......... 32, -57901 197937 120,212,763 d 768.747 30,635:583 d 1.:673.070 11:6,90,8 5,226,633
10. Depreciation (Way and structures and Equipment) ......- 29 26,901 2 3,99 116,348,381 113,544,79 26,726,167 25,929,715 106,095,145 103,216,670
11. Amortization of defense proJects.............. ... 1,33,1 6937 5406629 2,338,75 1,208,397 603,983 4,885805 202
12. Federal income taxes......... ... .... ....... 211, 180 d 6.700914 98:121:830 17,26,127 21O 26 7.70363 92,66,639 126
13. Dividend appropriations:
13-01. On common stock ....... .......... .. 3,052,627 3,210,609 37,509,121 44,86,707 3,052,627 3,210,609 37,509,121 44,863,707
13-02. On preferred stock.... .........3,59,507 789,3 9,133 1 ,273 15,5714 3:59507 789,133 ,509,273 15,57,
Ratio of income to fixed charges/ (Item 5+6-04)..... 2.00 0.58 1.91 1.07 2.12 0.56 2.05 1.13

All Class I Railways Class I Railways Not in
Receivership or Trusteeship#
Selected Asset and Liability Items ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS /
Balance at end of April Balance at end of April
N ern1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road- .................................................... ... -71,577,371 $65,673,315 162,715,541 056,945,323 Number of Number of ount
18. Expenditures (gross) for additions and betterments- Amount

of affiliated companies (Total, Account 707)........ 575,030,998 56,7,51 558,016,036 7 619 April 19 77,31 33 619930
109,OtheApr11 19 4.66493$3768513,572
20. Other unadjusted debits ............................................................... 175.104.650 1646.290.11 "O2. A357 4 months V1 0 17384 7 301;746
l months 1967 0 1,3:9381, 341 3 66
21. Cash ............ ........... ... 973,154,746 1,043,339,1o3 866, 710,046 911 1595 4onths1931,817 61 79,750,564
22. Temporary cash investments-.......... ............ .............. 9565,50 4 1,43,8167,O,4 793 192,335 1 1 186i6
24. Special deposits 1.r4.......... ...... .... ............... 6,946,34 218, 16 686 4 72,17 204 62277
Loans and bills receivable ................... .. 26,241 455,116 2 65 51 7 ILLIO NET INCOME-ALL CLASS I RAILWAYS oMILLoNS
2. Traffic and car-service balances-Dr. 50,143,387 41,6,8 ,1,999 01 32,431076 o r OLLARS OF DOLLARS
26. Net balance receivable from agents and conductors... 127,07,792 94,724,902 1150892 85 7381 90
27. Miscellaneous accounts receivable .. ....... ......... 2961,727 ,22,122 ,16,97 3249026 80 80
28. Materials and supplies .. .72,591,225 608,369:514 65604606 550 231,404
29. Interest and dividends receivable ... 16, ,6795 5 00807 14 466,99
30. Accrued accounts receivable. .... 155,3084,60 1 85 88 1 7710, __ ______ __
31. Other current assets. ........9......... 00368 3 95 R 4 1 147, 60
32. Total current assets (items 21 to 31) .... 3.521.171.958 .10)l42.-5 O146c..630 3.533.86.331 40 40
40. Funded debt maturing within 6 months4. ......... 181,706.897 124.s88.79, 17.426.69q 118.646.670
41. Loans and bills payable ................. 4, 750,000 10,854,08 4,750000 1048000 20 I 20
42. Traffic and car-service balances-Cr 90.7,32 108,699,625 78,639,747 96 56Z,132
4. Audited accounts and wages payable ........4.... 6,29 480,44 ,902 417,892,829 43585,172 0
Miscellaneous accounts payable ...... 217,059,713 169,897,153 180,2221 137,689,386
45. Interest matured unpaid 60,602,b92 63,360,82 56,15,267 17,61623 -2
4. Dividends matured unpaid .. ....... ............. .. 5,295,563 10,83, 5,020,027 0,568,61 1
47. Unmatured interest accrued ..... ,30229 54,859,398 53517286 -20
Unmatured dividends declared.....17,472,201 4,98,508 17,472,201 14 98,508
49 Accrued accounts payable... .... .. .. 155,393300 278,682,73 37,670,037 240.10,383
Taxes accrued 49.5,576,300 69,398,297 455, 803,271 594, 360, 51 -40
Other current liabilities .. ... .. 89,37,185 149.401999 21.708.8798 13,9595:47
52. Total current liabilities (items 41 to 51) 1,653,055,837 2,034.975.377 1i.490.200.868 1.79S.350.424 -60 II
53. Analysis of taxes accrued: -80 80
53-01. U. S. Government taxes ... ...----.-....- 379,711,004 559,165,138 353,095,845 485,268,885 .i F M A JJ A ON DJ FM AM. J AS oJFMANJ J J D
53-02. Other than U. S. Government taxes........... 115,865,296 13 159 102,707,26 109,091,62 194 1946 1947
54. Other unadjusted credits...............-.-.....-...-. ......................... 333,118,939 405,009,968 290,087,418 348,210,784


1/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended April1,39 $3090 21 96 121, 11
6 months ended April 54902 729
12 months ended April 51597
The net income shown for April 1946, is after a deduction of $131,808, taken out of
operating revenues to create reserves for land grant deductions in dispute.
~/ For railways in receivership and trusteeship, the ratio was as follows: April
1947, 1.33; April 1946, 0.70; 4 months of 19417, 1.18; 4 months of 1946, 0.76.


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.
r/ Includes obligations which mature not more than one year after date of issue.
/ Excludes reports of 4 roads for the month of April 1947 and 1946, and 4 roads
for the 4 months of 1947 and 1946, where net income (or deficit) was absorbed by the
controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the Chicago, Indianapolis and Louisville Ry. Co.
which emerged from trusteeship on May 1, 1946; Seaboard Air Line which emerged from
receivership on August 1, 1946; St. Louis San Francisco, which emerged from trustee-
ship on January 1, 1947, and Denver and Rio Grande Western R.R. Co., which emerged
from trusteeship on April 11, 1947.
A Decrease, deficit, or other reverse item.







INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS 1 STEAM RAILWAYS
FOR THE FOUR MONTHS ENDED APRIL 1947 AND 1946


n2 ALWAYS OPsATINEa I oI AL INCOME DIVIDED SA RAILATY OPBATIM IN IODMIRI INCOME DIVIDXD
IlCOmO IA A SPRIATIBONSI INCOME TI XZ APPCBOPRIAIONS
BRgion dan rallr legio n and railway
1947 1946 1947 19191946 ig4 196 1947 16 1947 196 1947 1946 1947 196

United tates total .................. S232W.05.537 l21.490,.723 p~20.22.763 a 768.747 $ 98.121.830 17.263.127 t49.018.394 660.437.847 South. nn Peson Oontinued
storn District otal ...............57.167.293 6.221.402 5.766.600 4.10.82 21.174.5 11.707.996 .123 19.03.3 li eld .......................... 2.641.177 $1.319,226 6216.7 2 0.90 50
2ol3umb9ls -S Ooan reville ................ 1 903 30.115, 75A39.310 1.153 14 .676 9.850
Now landla l ea on total ............. 14,149.948 722.720 a 1.378.667 4a247.145 1.331.501 680.430 85.015 84.206 lorida Bt Ooast* ................... 1.706.793 2.207,541 302.44 83051 200,000 63,245 -
Georgia B. Lseoe Organistion .... 137.977 6 -
Banor and Aroostook ................... 1,161.79 781.128 998.107 60, 92 599.996 319.618 47.50 47,50 Georgia & lorida* ..................... 5..o..5 .A.. -d 2 -
Boston and Mal ...................... 1, 4.207 1276 a 531200 86.171 oria Southern nd florida ............ 207. .280 102 76. 57,
OCanadin National ines in Rw Egland 3 38 4 914 41 Oulf, Mobile and Ohio .................. 1.317.619 156,2s 829.528 1 520.000 -
Cnasdianaific Line in Maine .... 37207 30- Illinois Centrl ....................... ss63.369 5.495,104 5. 712.772 2.151 3.663.000 1.620.000
Caedi" an Pcifcl L ons in Vermont ...... 4.. Louiovilleend Na hvlle ................ 6,15.075 5.10.317 5.379.203 3.63. 3.44,.600 2.565.170 64,11.1400 411400
ontral ermont ................. .. ,- i .. a 96 .1740 23.753 31.430 Missisippi ontral ..................... 57.58 34. 73 21.639 d 20.527 -
Main Central .......................... 766. 47492351 267.22 136.211 37,165 36.356 Nashville. Chattoano a.S. Loe.. ..... 666.620 1 6 295.665 &20,55 2 255,982
, York Connecti .................. 124.274 44.275 4 120 1,7,777 s a d ort a ............. 5531495 991 471.95 1 345,000 111000- -
Ne rklev Raven eand Rtford..... 914 17 d 270 107.000 Nor folk southern lr ....................... .305 1.616 1 831 7.62
ae S d A ......................31...... 1.....60. 7 .5 0.0 315.109 4.630. 1.26005 600.000 :-
ruan.s.................... S southern .............................. 7,427,407 6.562,711 204.38 2.820.000 1,920,000-
OrotIet Lake oion Total .............29.0905 7.910.21 10.556.,708 12.101.335 8.267.799 10.921.692 3.483,123 3,252.0 6 T. n 10 d 1 see1 Cenatra .......................a .251 7. 4 ." '2 17-500

Dlanare ad Hdo ........................ 1,902 .63 817.356 32 6925 1 55 914.000 -- o ........... 7
Do a are. Lackaanna and Western......... .. 21423,:6 ,61.282, 57 75 67961 ,8 0 3333 .2 2d ,71 562,
Dtroit rna krnac e ........ ...... ..... 145.3 17 1 n 62- 6- orthn n ota1 ............. 17.820.733 1.081.607 3.3147.22 d14.501 3.557.668 d14.41.62 4.073.164 9.231.698
etroitandMacina. ................ 1 1 :7 3X 4I6Jy 14.6149g__._0._._n..... __;_7__6 -----_.35
Detroit and Toledo Shore Li ..... ... .0 115.271 392,391 lg:69 244 413 71.823 50 000 60.000. 5.13
Sli ...................... ........ .62. 11 a 1.092.951 a 2.462.1 890g.665 1 2.017.021 2.017,026 Chicago eand north Western .............. 1,271 505 148 2 1.13.159
Grend Trak osetoern..................... 1.09.035 U 4J19A d 1 20.552 -Chioaso Grant western ..................1-613.558 228.819
Lehigh end Iadson Rierr .116.925 7 ,2 12..51.0"0 2 1050.a2 2i51e*9 0.t. os ................645.0- 0,0 5
Lehigh end N Ior gla ................. 362,425 312601 320,144 265,709 196,095 16.966 Ohioso. St. Paul. Minn. & Omha ...... 297,9614 a. 8 5 .- 0
LehiT allo.. .................... 1.52,347 1.144.909 32.652 d 4.07 17.500 20OO -- Dulth,. Missae and Iron Rane ......... 2.1766-9 4 2a.237 .2 d 5 --
MnonhelaU ............................ .657 14.31 552.,122 3 11.75 17 Duth. South Shor ad A tl.ntic" ...... -
ontour .................................. 43.94 97.92 239.47 96.321 146,4 57,199 Duluth. Winnipeg rad Pcifio ............... 76 4 5.95 a
ew York central 4 .............. 1. 641.9d 61,6, a 5, 545.5a 62oGrboertn .....................:...3::: 093495 81M 5000 1372 -
r or.. ohico -d St. onia- ......... .6. .0.02 1 00 50,86 360.56 ron I uand Wesotern .................. 13. 12 152, 64,9.56 12. 125,000
Newi ork Ontario and Westm ......... 33. 2 a 24 e- lae Superior rand hpesinr ..........a.. d 405. 2. 975 13050
eoI York. S Bo uehanna and oestoern" ... 105.52 T z 3 137.l7 13. Minneapolis & St. Louis........... .. 5 2 05.b 1 405901 300000 150000
Pare tt................1..... 4273 37 i 140.000 1140000 Minneapoli. St. Pa 8... Marie .... 170.711 15.65 719.104 1.797.760
PlttesSbrl ko iand iLako i9 ......... .... .165. 42 17 1.543 145 3 2 957.752 51.152 Nlorthern Pacifti ....................... .5602.647 2.&16.2 104.0 0
Pittsbu & Shnmst .. ..............., 238512 31,04 109,830 pokane Intrnationl .................. 52,.76 41.025 11.492 2 6.266 1 / 7.160 7 .16
Pittso h & We Virgilnl a.......... ..... 59 20130 30.97 Spokane. Portl. T and Seattle. .......... 527.45 25,965 d 576.05 d 1745 674.6
Wabash ................................ 4,09, 2.06,34 3.219 657 21.5,36251, 4 250.2 5 6 59.16 Wicons n aetral / .................1... ,2145 95.68 .775 -
Central laternm Reion Total ......... 23,5071,840o 2.1 411599 l3.4111.411 a 27.832.149 11.575.255 dj1.466.7 8.55.985 15.686.307 Central stern eion- otal .......... ,536.7922 47.327.930 14348.1o.524 29.593.533 33.128.776 14,22..918 15.556.22215.516.6.20
Akron, Canton a Younstowm ............. 315, 469 101 10 6 9. 2393 52,353 12.162 g6,493 39.415 Altone ................................ 613.7964 d 761s.3 505.532 *4. 6.8215 65,805 -
Baltimr.e and Ohio ..................... 607 22 2 2.781.447 d 12 66 729,230 d 71.916 Atohiso, Topka e nd Sent I o/ ....... 15.406.639 1,16,924 12,993,51"W 94,. 9.149 10,963,676 3.640.590 3.640.590
SisOmr ea rio kIri..................... 191 525 A .2 d,60 547.6504 ChiOcao. urli o a Q r ............12.1431, 3 10.56.540 11.23.1 9.*4.677 7.22.oo 556.000 -
Con .tral .. of Jere.y' ...........d 6,615:74S, 7 1..0 4,0 IChicago. B k I.sland .- nd Pacifica. 16,.752 .150 2,590.073 1.306 1.900-000Q 633.,937
ontrl .. of Pennsylvania ........... 2.2. 3.600 eorado nd Southern .................. 130.324 .. 72.9.16 2,21 d 2144 108.925 -
bcago &U stern Illinois ......... .... 105.1894 1.029.317 5.976 1,172.8 31.20 313. 63 0olorado & yoming ..................... 116703 732 92.459 68900 D 51500
Chsicao & Illinois Midlad................... 1432.3 112. 2 5L6 ,--"610 1.800 -- -. Denver and Rio Gr nd. W..st*er.......... 2.037.007 1.2D5812 590.778 &d .6 -
Chioago. Indianapolis and Louisville ... 10.9 24 7 3. .574.66 Port lrth an Denver City ............. 39.580 26.1103 3.347 73562
Nogon o stendEastern ..................1.505.5142 d 63 10,699.56 21 31.11 2 166.310 3 N Sourthern Pacific..........................19.. 17 6.275. 3, 76 .2
Detrmoit Toledo ran Ironton .......... ..97.1502 .01.963.2.502 166.31 iort wstatn Pofin .................... 177.87 d .30 627
i I, Jaolitn.. ...t ,.................... .9,39. 1.6n2.37.121,- 1,.16, -o Soten .P ...................... 0.92.1,, .b77.ZO 7.4o 372.3 3 3. 1. .. .772.763
Mlsso i4-Illino. ...................... b ..8 17,3 1. 15 9000 -11.0 Union cifi............ 3 5 1 2 6.135.251 5,100.0 .600.00 5,325.227 5.,325.227
Chwwin ul ho ..................... 11 0.09 0 3 .9.,015 .7.015 nMHn Trilw ......71 :.527312 13- 500.293
oentrl vamo ........................... 2.1420.639 2 990.093 4 11.16.59* 3.275.,67 3,21 n 63.n7 13.167 .754 Utahil r.... .................. ..... 59,2 4 .72 681 26o -
Pennsylvania-Reding Shore Lines ... 1, 3 115 1 122,533. 1 0 oWestern Pacific....................... 442,25 336145 222065.................. .33 7000 572000 2.17.6.42 2.77762
Rleadin ................................ 1 9 1.722.97 2.s.74 1 .930 1.999.300 553.679 1.- 29 .253 32, 910
Staten Island Rad Tansit................ 1 ., 1 37. 4, Southn orn in .otal ................ 29,65,912 22022,51 16.731352 5,493,228 9,484,551 2,2914.682 93,83 210-000
Western MarylandL...................... 5.30270 10533.4 1.7557-9 01821.24 1.078.00 411,000 -
Wheeling nd Lakeo rie ............ 2.162.572 568,336 2.105.21 6907 1,344,000 361000 766.362 766 362 eaumont. Soutr Lake Western ........ 399. 963.209 757.0637 140.20 216,000 516.000
nrligton-Ro k I sln ................ loo,4100 159
Southern Disotriot Totl. .............. 67.114.507 44 537,199 50,887.005 22930.1493 30.7765,0 17.193.085 16,071.047 16.1426,562 International-Great Nortborn'e ........ ...3100.337 -
"Ken S4as O Ci ty Southern ................... 2,207.693 1,6.15 10 52.09 19.66 5 90.000 1470,000 210.000 210.000
Pocahontas ReAio Total .............. 28,012.018 17.070.285 25.91.8013 15.01.29 5 15.575.080 9,365.018 10.260.913 10.260.913 ansa. i Oklahoma f................ 436.576 21.032 394224 167.937 252.135 111.101
Louisiana & Arksao .......................A6.61 619. 739,528 325.282 547.000 175.000
Chesapeake an Ohio .................... 13290.626 8.097.239 11.7T5.006 6,603,505 7,092.920 3.997,773 5.7143.015 5,7143.015 Midland V ll ey ........................ 108,65 149,1400 57.993 d 2 146.267
Norfolk andWestern .......... ..... 10.68,652 6.148.391 10,596.778 6.760,970 6,300 3,900,000 3336,110 3,7,110 d.oui n an................. 1 -
Rioshond, rrodricksabrg and Potomac ... 1.102-.031 1.252.272 1,155,515 1.3 *4.323 723-.000 11*.220- Misouri-knes-Ta.................. 542.5b 14.2o13 49.000 590.
rinn ............................. 2.930.709 1,572. 2.350.711 19.1 12.160 653055 71,.7 751.788 Missouri Pacific* .....................7 ,.5 3 11312704
Iow Orleans. Tozas a exio".......... 1,241,100 1,545.1 343,7 1 .309 .000 9000 -
SouthernRegion-Toal ................ 39.102.789 27,766,914 24,965,992 15,pz.6& 5.195,200 7.628,037 5.910.134 6k165a669 Olhoma City-Ada&-toka ...........343135,525 20.236 21.765 17,055 14,510 -
St. Louis, Brownsville and xico" 14' 92,8& 546.019 699.414 313,000 428,000 -
Alabama Grea.t Southern. ................... .1453.72 171.000 3.,5 91,3142 25 4,000 39.000 St,. Loui-Ssanrnciso.............. 2.9o7.326d 7206 1,165,.000 834, OOO4
Atlanta a Saint Andarevw Ra ............ 115,302 33,825 101.579 212951.368 13.15tLol.Sonraiscoadfez& 7. 1319.0179 14021 514.000 d 216
Atlanta and West Point................:::: d_ 1 o21.597 d 0 31451.. -d 1. ..St. LouSouthwestern......358919 1.960,174 2.71.377 1.097. 331 ,36.112 503,
atlntic Coot st ..........0.16 oin".......6.6.1.2.9 ooooo1,60, .6063. 1.29.759 900,07 Sn Antoni0o, Ualdeo a ulfd..............d4 .d.
oCentral of Georgi i ................... d 13 493;670 d16506 1. 05,5 53,298 Texas and Ne w Orleans ................. "10,5237143 858 2,750982 10d
Oharleston a. ostoern Carolina .... 9.,a 3110 1500072, Texas and Pacific ..................... 311013 2 013 1.6191 454 152.000 1 693,3
Cin50inna5ti, New Orlena and Te Pan. 1,676. 1,095,000 325.000 40,90 140,890 Texas Mexicano ........................... 239,6522.791 192. 33, 4,


S report of receiver or receivers.
* Report of trustee or trustees.
d Deficit or other reverse item.
In/ luide Boston & Albany. lesoor to I w York Central B.t.
Formerly included in report of Minneapolis, St. Psul & Sault Ste. Marie.


ca Includes Athison. Topeka & Santa rt oy., Gulf, Colorado & Santa t17*Sy.,a sad PrhmIa* &Sat Fe A.
I/ t not included In totals. Inelude Southern Pcll0 c Oo .no Toxu and Now Orlleas o.B. Go.. and oued lines.
7 69derZl Manser's operations terminated 12101 &.., October 1, 145.


U. S. GOVERNMENT PRINTING OFFICE : 1947-0-70Z097


~__________





2 7 3 /5s r3^/9-57


Subject to revision


UNIVERSITY OF FLORIDA

IIIIIIIIIII IIIIIIIII I iIIii INTERSTATE COMMERCE COMMISSION
3 1262 08851 1869 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Augl l47


Statement No. M-125
MAY I4


UNIV. OF FL LIB.
D CEMENT DEPT.

I A k E- InnO

U.S. DEPOMIMTORY


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

Compiled from 128 reports (Form IBS) representing 132 steam railways*
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

l C s I Rail s 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

1947 1946 1947 1946 1947 1946 1947 1946
1. Net railway operating income ......-...-...- .. $5,28,897 d $453.086 $308,234,436 $116,937,639 $69,418,J436 $3,907,679 $278,729,113 101,88,7
2. Other income ....0.... ..-.----- .. .... .-,8- "- -55 75,o1,4l 5 69,213,771 12,772,.544 -2o6y67 99,138,23 4,369,23
3. Total income ...... .. 89,612 9,23 99 383,275,90 186 15, 46 82,190,976 88928 34; 867; 7344 1608
4. Miscellaneous deductions from income .................. 2,845,43 1,50,021 15,05,501 11,12,065 2,73,243 1,47,70 15,391,47 10,7
5. Income available for fixed charges ..- --.--- 86,772,747 7,728,478 367,470,4O0 175,024351 7917,733 7,465,586 332,75497 155 ,714
6. Fixed charges:
6-01. Rent for leased roads and equipment... 10,638,194 9,791,067 53,207,866 7,479,346 10,263,074 ,269,160 51,27,21 44,787,514
6-02. Interest deductions / ..................... 25,756,315 30,633,0 129,1676 147, 20,2 5101, 4 118, 16
6-03. Other deductions ......-... .....--... 162,274 12 4711,791 61,802 150330 14,185 656,634 528,735
6-04. Total fixed charges.... ..... 36,56,783 40,553273 183,339,333 195,3691 30,666,259 3,220,115 153,1,195 164,217,
7. Income after fixed charges ............-.......... 50,215964 3282479 18,131,067 d20.810 48, 751,74 67.2 178,5,302 d 8.7.9
8. Contingent charges..-. 3,855,769 -3 203893 17,558,108 737 30 3,855,769 3,203,893 17,558,108 15,737 ,3
9. Net income 2/. .........-.... 6,360,195 d 36.028688 166,572,959 36547720 44,895,705 d 29958.422 160,986,194 d 2.482.075
10. Depreciation (Way and structures and Equipment)..--..--- 29,428,480 28,6 9,96 145,776,862 142,234,84 26,854,822 26,90,748 132,9 ,967 12907,2
11. Amortization of defense projects..............---- --- 1,356,675 7 61 6763,0 3,096,380 1,226,892 6 5576,112,698 22,67
12. Federal income taxes... ........ ... .. 25,230,787 803390 123352 616 9,226,737 2762559 7 1 117,430,198 6,781,65
13. Dividend appropriations:
13-01. On common stock .- --- -....-- 21,454,53 22,186,935 8,963,693 67,050,641 21,454,5 186,935 58,963,693 67,050,641
13-02. On preferred stock ...-- -............................ 5,296,63 4027,041 16805,91 19,601,181 5,296,63 027,041 16,805,916 19,601,181
Ratio of income to fixed chargesV/ (Item 5+6-04)...- 2.37 0.19 2.00 0.89 2.59 0.22 2.16 0.95

SClass Railways lass I Railways Not in
All Class I Railways Receivership or Trusteeship#
ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/
Selected Asset and Liability Items Balance at end of May Balance at end of May
1947 1946 1947 1946
19 1946 1947 16 Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road .----- _----9--.... .. ...........$... 93,498,090 $83,506,889 82,196,648 $72,848,658 Number of Amoun Number of A
18. Expenditures (gross) for additions and betterments- reports reports
Equipment ...............- 187,362,174 91,241,189 174,614,479 80,463,641
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707).. 575,560,97 588,928,155 558,543,476 572,047,537 May 1947 91 $, ,4 4 2 ,280,499
20. Other unadjusted debits... .... 181,381,4 9 174 098 872 115.507.698 103.64.659 May 194 37 8937,163 2965,8
5 months 1947 92 195,683,763 31 29,1160864
21. Cash ........ ........................1... ,034,574,111 1,045,336,659 926,557,402 906,901 604 5 months 157 0,487,828 67 117,035,548
22. Temporary cash investments........~....:.......- 943,122,271 1,369,90,82 750,559,266 1,133573,180
23. Special deposits. ......134,465,027 199,625,826 126,036,848 190,5,219
24 Loans and bills receivable .. -- ........ 192,024 4 239 189,032 47 O NET INCOME-ALL CLASS I RAILWAYS ,LONS
Traffic and car-service balances-Dr .. ...- -. 50,1 281 42,96,530 28,336,48 O DOLLARS OF DOLLARS
Net balance receivable from agents and conductors 128,969376 ,8 34 18 118,2365 5 80,388177 9 -90
27. Miscellaneous accounts receivable 290,35 ,894 365,765,244 22,058,894 306,523,141 0 80
28. Materials and supplies............. 727,306,795 608,839,753 662,60,792 551,29 ,035
29. Interest and dividends receivable .......... 1972,31 27,553,950 17,70 ,592 24, 66821
O3. AooruedacoOuhte receivable ..- -- 143,386, 195,358,3 336 12538,788 176,058 454 -6060
31. Other current assets ... .... ........ ..... ,4,91 1,958770 34,55,003 26:72932
32. Total current assets (items 21 to 31) ........ 3,515,222,829 3,96$,986.328 3.044.907.300 3.425.483.855 4 --------40
40. Funded debt maturing within 6 months4. .- .... 148,495,761 128.237.165 142.340.063 122.061.006
41. Loans and bills payable 5/...----.........-----...... -4,250,000 10, 5 4,250,00 o o,48,o00o 20 ---- --l-- --------20
42. Traffic and car-service balances-Cr...... ....... 92,380,232 104,41,13 80,708,531 92,571,933
4. Audited accounts and wages payable... .. --............... 11,24,190 516,44,407 467,149,446 47078
44. Miscellaneous accounts payable.----- .. --- ,73997 58,450,731 162,745,"484 1795762 0 -- -
4. Interest matured unpaid............. .........70,452 50,15,50o 41,046,778 45,831,389
Dividends matured unpaid 2..........1.-8..... 9 8,779,878 7,935,853 ,54,342
47. Unmatured interest accrued-....... 61,956,038 58,764,29 60,910,531 58,109,971 20 6 i 9-3,-- ----00-20
.Unmatured dividends declared -....----....-.3 5 703,4 ,339,235 39,703,490
4. Accrued accounts payable 166,337,843 26,502,96 147,957,489 196,612,661
STaxes accrued 481,129,763 672,160,12 45,881,221 585,258,134 -40
SOther current liabilities---. .................... 87,950,203 148 832,54 7 864,495 142 62,114
52. Total current liabilities (items 41 to 51). 1, 694.276,542 1.995.448.305 1.537.783.063 1.778.594.747 -60 ---- --- ----60
53. Analysis of taxes accrued: -80 -80
53-01. U. S. Government taxes.... ....... 353,228,892 542,604,372 331, 2,835 467,979,813 J FMAM J AS 0 ND 0 J FM A J J A 0 N FMAM J J AS 0 N
53-02. Other than U. S. Government taxes.......... 127,00,871 29,555,752 11,078,386 117,278,321 1945 946 947
54. Other unadjusted credits.... ................................ 361,77,210 396,019,793 316,559,903 340,889,527


1/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended May $122,939,940 a $88.094.660 $211,034,600
6 months ended May 261,489,633 11,5,O57.N9 376,547,429
12 months ended May 491.655.146 16. 44i79 .213.667
The net income shown for May 1946, is after a deduction of $234,412, taken out of
operating revenues to create reserves for land grant deductions in dispute.
1 / For railways In receivership and trusteeship, the ratio was as follows: May
1947, 1.25; May 1946, 0.04; 5 months of 1947, 1.19; 5 months of 1946, 0.62.


/ 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.
SIncludes obligations which mature not more than one year after date of issue.
Excludes reports of 5 roads for the month of May and 5 months of 1947 and 4
roast for the month of May and 5 months of 1946, where net income(or deficit) was
absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the Seaboard Air Line which emerged from receiver-
ship on August 1, 1946; St. Louis San Francisco, which emerged from trusteeship on
January 1, 1947, and Denver and Rio Grande Western R. R. Co., which emerged from
trusteeship on April 11, 1947.
d Decrease, deficit, or other reverse item.







INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR TIHE FIVE MONTHS ENDED MAY 1947 AND 1946


Nm Nu IAr onPruIINR mT maN 7Ia Ua DIVIDEND HI T AILuLY OPUsNI MIT IICOKI Iai &L Ico10 DIVIDDOa
110013 fsa APPRor PKIATIONS INCME T AM APPOPIATIOUs
legion and railway region and railway
1947 1946 1947 19. 1 457 1,46 1947 1946 1947 1946 17 1946 1947 I 1946 1947 1,946

United States Sotal ................... 308os.234.434 $116.937.639 166.572.959 $6.47j206 *123.352.616 9.226.737 75.769.609 $86.651.822 Southern Begion Contianet
astern District al ................. 83.373.772 A7.3%1 18.660.307 678.4 2 ,6 33.910 41 6 16.661,005 22,516.111 o e...................... 3.251.155 .363.2 20.7 4 -
Colub",s and Gr7enville.. ............... 25.223 $87,97 ( 6 1.153 13.926 9,50
w agla gion fetl ...............5.43.556 .27.61 7..88 .399493 580,536 132.865 132.056 oritA Past co*t ** ............. 1,30361 ,36 0230 I67998 ; 648.236 66.000 513.2145 -
"* o TGeorgia ------ r. i. -.. Organiantio .... .213,040 6 s .. -
Banor and Aroostook .................... 1,1*453 7. 983,99 486.624 594.,413 2 4,68 95.700 95..00 Gorgia lorida....... ............ 6. 6 T. -
Canmian National Lines in wrv hsgla 5.. Gul. Mobile and Ohio ............... 2034.677 29589 1039,416 62.000 -
BeatC anr M ains......................... ........... : 0 7.1o6922,110 4.000 1.748.000
Oanadian Pacific Lines in Mine ......... l ea ...................... 11.067.11 6.373.233 7.133.38 24,5l .000 1,74.1.02,
anadima Pacifie Lines in Vermont ........ 5 9 Louiv ille and Nashville ............... 7.681.163 4,31.899 6.665 651 2.969.15 .35.100 1.731.075 *4,.11.4 0 4,11.,400
central ermont ........................... a o. t 1 a2 30.353 48.208 Misit. slt Ceatral .................... 77.911 22.274 33.07 1. 8 287.
Maine Centrl ............... 4 ......... 92104259 49.724 376 36.356 shville, Ohbttaoog st. Loni ..... .526 9967 03 a 16129 255,92
low York Connecting ......... ....17,37 157,0 Now Orleans and Northeastorn ............ 729,916 22445000 10 -
so 6ork, 0on aTn 133.750 N orfelk Soethern ...................... 105.361 0 1
S.............................. Aboard Air Line .................... 375.000
Ssother* ............................... 9465.233 7,032o08 5.293.95 3.585,000 1.620,00 -
Oreat Lakes agion- stl ............. 41,636.709 6.120,999 17.,21.s 19.6t92 10.676.9o0 l 13.656.34 6,999.157 6.278,o O42 sn e 0at ............;...... lq.SI 2 3 113.90d 119.212 o 2 3.0 17.500
Wostorn Ny of AlaUses .............a11,011
sAnL rbor i............. ........ ..... 2.2,9 61. 196.9252 027 1 4 0 5ta me o ..........
Cambria ad Indiana ................. ..... 114.1811 188.5p6 11550*6 224,983 60,00Im W. 60.000 t! estm, jeteaot, _ojo ............... 135 6.1,9QM W77.,106171 8,lttlSO l5h :.) 55-,05-990 9.328.77 31,684.2941 352,61
Delaree and el.son ..................... 2., 5516.35 23.47 1.839 .524 12 1,262,000 --
Delaware, Lackawun na nVter ........ -96:3 1,, 112 1,102.090 219.018 .....6607
Der SSSknn............ 1,92 ,., .W1 31+ +- ^ --, *- : o eu o.t............ 27.660.g69 -61,72 9,372, :4.9 b+.t& 6.2.3.+429 0 4.073.164 9.3gl.698
Erit ............... ................. 4.69 5 1 2 7 1..64 3 7 32922C a Wniorth etan ............... 2,462.564 I6,, ,3
tora ork ntr .................. 0.6 1,801:60 od5 a oGeato r vortera .................. 1..155
I.Blh B.An ,trao ................. 2.g00 93.665 ; 7.07 47.070 oine, lu a.., .h- a Po 7.6 ,70 .t;o 3.11 .513 t ,TS. 2,so,350 5.60g,700
Gran YrackOnt and .0 ror ad a i.........-...... 1.55'4 5.62 13,70 10.100
LekhiLh oua Hton Rvenr ................. _51 4316'00 0.
Lehigh and lIow atlna .................. 460.%2 393937 351 250.535 6.o Chinose, t. Paul, in. M Or ....... &,2g d 14.4a a. 1 -
L.ebhh vller ..........................9...2 2. l 1.69 lo, In31.71ob.M na Iron saas .......... 40.400 214.639 .,2 2, .13
Monongahela ............................. 1.2.727 1966 : .26 3,33. DaluSt,. South bori and Aantio" ...... 161720 4 4 S .
MontoIr ............................... 6.3 96.011 330, as .57 20250 52377 Dute, i c and P o ........... 9.2 5 4 2 106.- l -
w York oniral na o nd ............... 9. 63 i56. 0.0.0 6M.9 or.t Worth n ......,................. 5.274,779 2.,7 2 .145.000 31.3,2-
Stor, C ond It. o. .......... ,7 3.5.15 1.4962.500 1,.694 360 .56 orn ha ra n stern... ................ 10 & 1,929 2.3 125.000 15.000
w Tork, Ontariot and EWtern.* ......... 2 4 4 6 ft,0 2 ,Lakohe r, ,a. %.hl d........... 51... 12 ,9 71.9 31 7 0 9.758 53.550 2 107.100
Iow Tors BOaruite. .ad e...t. ..... ...... 7 82 -2 -7 Ninnapolts & St. Louis ................ 3 74,o6 512,901 59212,69 3001000 300,000
Per* NanIutto .......................... .7 130 425 140,0 140,00 l i. St. Pul .. rl ..... 1.65 719,1 1.797,760
Pittsburh and Lakelrti................ 629.001 b 2,109.293 4 617.3 1.727.300 1,727.0 ohoer. P fio ........................ 6.7625 2. 633 1 31,03 ,-
Pittsbrgh t Virt .................. 459.93 1.5 263.516 17.6 oke, Portland d eatl.......... T 517 S 1 59
vsabnh .... ................... ...... 5.072.955 2.529,330 3.975.162 1 2,265.31 6116 59,1286 59.186 Wicoan nalw 8t s............... 1.705.3 .64 a
Central zstara nezion Total .......... 36.193.650s 0 12..1953 g27.267.s30 3.657.671 15.5g5.507 5 2.12.178 9.528.983 l6.1o6.913 5013 n01 w3teM B eEon Tot0 ......... 73.665.622 53.005.560 53.029.913 31.737.719 ~39,612.ogM l.5s3.734 25767.670 265727,65

baltimoro an- li .................. .... 13. 5,073 4o 1,23130 4 Ation. o........ .643.7355 15.59.231 ..29 12.3 13 67. 674
Sesoer ana take Lrtl ................... 2..244.618 1.71.0375 1.147.h271 c agotos, B1s arliton & aetr ........... 14.877.352 11.6 2329 13.304.9 10.012,955 8.53 1500 5.97.80 1.
Ctaenl R.. f w Jranest** ............ 179 d 1.3. 146 .4 OChicagolok Island ant Poft* ..... g,07,9 5.272,g 2 7 262.962 2.010000 253.768a
eontr a. t N.AO f rienlvaniaM ......... ... 3.197. 2. 197.07.73 : 11 3 Colors7. t on hrn.................. 61.76 19, I 71.6]7 A* 6 .370 -
Wtern Moao .lan .................... 714,357 6 94.7, 15,2131 39.72.71 16,07,23 74 ,1 2 3g,64 ,5, 052495 ,- .* .899 -2.2000 637.- oo
OChicaso stern Illnois .............. 233.0127 1, .11, 383,63 Coloradt Ioreat ...................... 151.899 050 0
Ohicago Illi nois Midlad .............. 59 277,2 a o rt e etern .......... 2.,669,85 1.,006215 ,,0s3 4 a 106,799 -
Chicao, Indtianapols and .Louisnill ....r 1.0 3', 606 ort Worath a .Deaver Oty ............. 4.31. S, .953 7 6 .9o0 12.017
Detroit.Tolo and Ironton ............. 1. 3 3 ,31 .100 orthwe.ten Paifi .................... a 75 2.
Iofnh, Jo naeiand atra ............ ... 2 37. 425 t391 2 os 1.4 6u n ter n m .....4................... 2.01.9 18 2.371.719 95 7,47.1 o 75.5.26 7.55.526
m.09tlS ............ 07 : ;8527 327.900 0.000 90.000 Soutern Pacifictarum p. ,stej/ ..... l.66.l97 13 14.537.469 5.923.92 l.122.2871112 7.5.526 7.55.526

lliohndois reridc .....kant.............3....3..3: .6215 13,4 0 99 9 1MioriFa sl.. .. .. ....5 tI S60
Vonr Iland ............................. 5 .T2oledo. Poria Ai stern f ............, -
Misour-ininot- .o................... 'I.s.l1 7o1S0 n 2.30.000 ,.000 UIO L i. ...............r.......... 13.978,255 9.792070 16.g. 7.35,20.9 9.50.00' 4.200,000 8,659.592 8.659.592
Pmuhern lnri ......................... 6.9,27s a I4 d 74,000 61.5.877 1. 6, ,167, 7,,.54 Uta 2 r y ... .... ............. ...21 ,1 0. ::. 2,764 2
PonnlIvania-Ineatoia *asShore Lin o ..... 7 us15166 a ctor s .a o ....i ...... ... 41....86. 51 0.2.2 5099 6 31,000 572,000 17.642 777.62
leading ................................. .65 2,585 1.0 52,,6241 2,9. 4.o4.0172 60600, 1.749,.959 ,.748.21 L o ro................3,761,70 11601-903-,-------
Iats.n I1t aid Trasit a............... 39 ,65 A outw. .r .o n To .....49g... 37.31057 24.593.331 20.743.04. 3.590.206 ,11.669.673 1.970.055 2.8 43460 41 531
Western "anrdI ....................... 21 1.393.00 496.000 COO
Whelint na Canks rie ................. 2 57 2,7 712,237 1 ,71000 426, 1.019,654 ,362 annt, our Lake Wester ........ 1069, 22 1,067,377 000 637000
-- Bnrllitoo-Boo Island .............. 01.44 -
Southemn Distric t. t ............... 6.229.16 46.40,757 64.766.i2 18.n2.313 39.732.716 16,007.239 27.424.310 2s.6s.o.39 Internor...eat Northern. 61.. U.431 d
-Cr ans ci W Crouteern ...*4.'.'.o....l......, 2.13, 0217990 083anPiioo6 3ooooo 210,0007 210,000
Poahoentast on Total ............... 37.752.392 1,458,g50 3U.99.,724 6.,t24,781 no2s.945 9.582.8o6 20,414.229 20.301.923 Rs., Olhomnna &oGulr ................. 519.: 271.7 6 1:25 6 000 131.20 265.75 .0318
Louisiatral ona nrkna :......1.69e..ns3...4...011. 29030 4000 1 1-
oCiik,... e Oahio .............. ....... 17.97.93 ..576,2 15.957.17 31 3.99.4 5937 ,031 mdl.l. ......................... 2.: 6, 2 725 5 0 2447;25 -
Chesapeakem Ohio........... .......... .2 9 .71,1, 1.595 33 .2 d..................... .o.9
Norfolk and etwo ..................... l4.37t.5t 6,954,337 l4.266.o45 7.64.6373 .045 7,0 4.100.000 7.252.317 7.252.317 Missonri s Akansas. .................. t l- A- 1 1
labohnd, Prrrleckta rs nd e*iotone .... 1.533. 1:36,483 1.393.416 1.517.390 907964 922,220 Mioari-uase-Tus .........;......... 9 :770 7 .oo 582.000
Virginian .............................. 4.061., 1.569.255 3.372.T2 951.291 2.070,250 561,770 1.563.575 1.563.575 Mssouri rmfI* ...;. ...... 9. .9 5.9.79 3807.9 W t -3
-- Iw Orleansu. T> ?*a Meidco" .......... 1.7.731 1.97314O 29.75 224.000 3.000
Southern aRion f- otul ................. 49.476.784 27.950,707 29. g,45 1,496,532 18,653.,771 6,424.435 7.010.0o.o1 ,306.116 Oklahom Oty-Am-Atok ............... .291 22,233 27.817 20.170 22,8
a t. Loui. Brownsvlle* and XMoo** .... 1.24 ,943 1.00. 1,2,722 793.516 ,000 486,000
Alab Great Southern .................. 640,605 105,063 512.41 4.0B 444.o0o 7,725 784.725 St. Louis-San lrmanooo ................ 3.76g.To2 a e 1,601,903 5,958 .-. -
3tl0nta 2 3ntat A0drnw 00............. 9651 43.90 273 101,29 25.727 30000 St. Loa 8t. Ban Francsco and Tas..... 12288$ 68, 216
Atltan and we.t Point .................. 1 9 126062 6.066 23.0 4d 14.46 S- t. Louis Southwnta"** ............... 4,593.7 2.20 5.20 3.4."4 1.122, 2.307,304 466.87
Atlantic Couast Li ................. l& 900,000 1,650,44 1,651.47 Sn Antonio. UValde & Gal*d ............ 3 & d a 1401 -
Ontral of eori ................... 4 2a 69123 69,123 easd Ir Orran .................. 5.1 3.494.946 1860000
harteton WestrCarolina S .......... a easandPafi...................... 2.929.92 3.261 152 2 95 2.330.463 305000 643000 1,367.675
Cincinnati, *a r oNlew n and 2.e Po.. 2,503.883 1771010 6526 1.40.000 405,000 51.112 1.39662 T.e oilas ..................3...... N5..3 63,717 256.805 3.&641 ,000 40000
...... 5-+.. If. P.- O.fT .M


SReport or receiver or raeeivre.
SReport of trustee or trustee
SDeficit or other reverse IteS.
S Inoludes Boston &Albany. lessor to lew York Ceutral R.R.
S Forerly included in report of NMineupolli. St. Paul & Sault Ste. Martl.


a IncltuAs cason, wupea C &l;a 55 A.. Oui, wus or... &r M- 7 01.. MA Pa -Aoe m& a.
e/ Dat not iollA*ed in totals. Incluls Southern Pacific Coapay. fs and New Orleans .B,. C., and lased lines.
v Report not recelTed.


U. 5. GOVERNMENT fRITllNGP UOtFF-I: 1947---0f7509


INTIC nVfr.P- I A7 C75MQ






:4/,sr 37-e.4- 9f,/i^


Subject to revision


UNIVERSITY OF FLORIDA

U 11111 1111 III11111III1ll 111111ll 11II N i! 1111111
3 1262 08851 1877 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

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


2Sep '47


Statement No. M-125
JUNE 1947


"r UNIV. OF FL LIB.
D CUMETr S DEPT.


U.. DEPOTO
U.S. DEPOITOMY


Compiled from 126 reports (Form IBS) representing 130 steam railways *
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

nAll Class I R.lways Class I Railways Not in
SAlClassIa ways Receivership or Trusteeship #
Income Items
Income ItemsFor the month of June For the six months of For the month of June For the six months of
1947 1946 1947 1946 1947 1946 1947 1946
1. Net railway operating income. 0....... $60,201,058 372 49 422,991 $154,762,5 $56,623,909 $34,658,280 $336,413,277 135,454,296
2. Other income .. 231242336 2219219658 70,8 21,44 140 20,752925 90,683,763 85187,0
3. Total income 83, 325,291 59,;91,567 466,64269 32 78,67049 55,41 205 427,097, 220,64,404
4. Miscellaneous deductions from income .. ............. 4,595,516 2,385,619 20,401,017 13,512,687 4,511,20S 2,312,136 19,909,263 13,063,721
5. Income available for fixed charges ... 78,729,775 57,595,918 446,241,632 232,620,296 73,555,841 53,o99,069 407,187,777 207,577683
6. Fixed charges:
6-01. Rent for leased roads and equipment 10,86,10 170,19 64,06 76 58,185,366 10,438,885 10, ,470 61,815,802 54,94,oso
6-02. Interest deductions .............. 25,65,864 2 5 0954 176,25,61 20,203,922 22,96266 122,278,108 142,650368
6-03. Other deductions. .... 15,157 122,05 8 99 723,56 132,1107,835 790138,286
6-04. Total fixed charges- 6 .. .. .. 36,677,06 235,169,183 0,774, 1 184,884,8 198 73
7. Income after fixed charges ....... .. ... 2,0,7 81 4 226;225 7 22230330 9,3439 9
8. Contingent charges .......... .. .......... 3,60,35 33, 21 3,65 3 40 21208;6 1 ll
9. Net income2/...... .......... 38,,42,391 15,186,952 205,016,806 d 21.360.770 39,130,544 16,896,996 201,094, 848 9.462.934
10. Depreciation (Way and structures and Equipment) ... 29,478,529 2,262,205 175,255,392 170,497,O4 27,005,o25,754,33 160,52,955 155,541,964
11. Amortization of defense projects--------...-...----.....---....-------.. 1,355617 21 7 2 391776 1,230,47 7 239 7368,942 3418 ,908
12. Federal income taxes...---....-................ 20,5,355 3,134 143,911889 12,36,505 20598,758 3,474,7 138125, 42 10,348,286
13. Dividend appropriations:
13-01. On common stock .. ----- ...... 11,562,292 16,6 420,5 83683,063 11,562,292 16,632, 42 70,55,985 83,683,O63
13-02. n preferred stock............................ 538,630 5,591614 2,2 25192,795 5,438,630 5,591,614 22,244,54 25,192,79
Ratio of income to fixed charges/ (Item 5+6-04).... 2.15 1.46, 2.03 0.99 2.39 1.60 2.20 1.05

All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship #
Selected Asset and Liability Items Balance at nd of June Balance atnd of ANALYSIS OF NET INCOME-ALL CLASS I RAILAYS/
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road ------------------...... 118,814,093 $100,759,524 $105,520,421 $88,273,868 Number of Number of
18. Expenditures (gross) for additions and betterments- reprAmount repAmount
Equipment ...................... ....-------. 231,789,631 117,760,800 217,336, 95 105,971,179 reports reports
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707)..... 57556,8 6,592419 561,547, 56,711,9 June 194 8 37
20. Other unadjusted debits .- ............. ........ .. 85155.41 175.532,105 18.979,684 106.835,367 June 19 6 ,995 7 17, ,04
96 months 1947 24799.32 1 29,782,505
21. Cash ........... 9 8,066,692 972414, ,99,414 8 1,54,221 6 months 19 1601, 9,017 2 123,051,987
22. Temporary cash investments-... 19,- ------ots1..4[-..... 99,508,08 88
23. Special deposits.--..----.-.. .----. --- -...-.---...- -4185 14- -2,778,80 l44' i 49
24 Loans and bills receivable ........... ..... .......... 209,413 i- ., 2054,969 l8ons NET INCOME-ALL CLASS I RAILWAYS M.ILLION
25. Traffic and car-service balances-Dr. ... 46,64532 4,273 or, DLLas or LLs
2. Net balance receivable from agents and conductors 123, 7 102213,65,4 2 4,067,76 9 _550,54 oo 90
27. Miscellaneous accounts receivable 288 18,95681 3 o58,011,606 4,018 304099, 6 --6 0
28. Materials and supplies ..... ........ 73, 611,30 72 670,963,93 55,93,66
29. Interest and dividends receivable .- 16,588, 21,974,701 1 59,590 18,76,836
30. Ae9rued accounts receivable 146,2,2 189,206,738 12,632,615 172,8,794
31.Other current assets ... -- 644 31.931.205 26: 7 60 --7-6----- s_60
32. Total current assets (items 21 to 31)...... 3,513587,995 3.776.788.636 3.061.756.717 3.271.674,755 40 40
---*----------------------.------- --- ----- 1 -----t~lg~t-k-- I- -- ---- 4
40. Funded debt maturing within 6 months/ ... 144,33.337 111.299.810 138,855.843 99,2067 0
41. Loans and bills payable /..... .... 4,275,000 1154, 4,275,000 10,685,000 20 20
42. Traffic and car-service balances-Cr.. 6,0,3 1147732 7 ,629 101,949,650
4. Audited accounts and wages payable 477,305,304 485,06,O 43,7 60,420 442,909,281
4; Miscellaneous accounts payable .21 9,3 64 1g 17,45124 18 ,793,93 ,1
4:. Interest matured unpaid... 6, 6,201
Dividends matured unpaid .,927,44 "15.89 5,0620,oI8 -
5,927, 15,89 1J, 651,907 15,0
47. Unmatured interest accrued... 52,368,5 9,5S 149,1 6 -20 -20
4. Unmatured dividends declared. 1,5 2,92 18,N7 1 6
49. Aborued aooount pyabe 16012,97 188 ,4 1,980,3 165,218,608
STbxes acorued .. .... ....... .................. 542,511,077 591,478,210 5 703,15 24o1923 40-40
Other current liabilities .. .6060.298 08.02 .292 10939 0200 98
52. Total current liabilities (items 41 to 51)..- 1.745.535.417 1.824.872.651 1.592.924.1523 1.636.135.311. 60 -- --- -60
53. Analysis of taxes aooruedl. I80 I I I
,53-01. U..S. Government taxes ... 412,057,352 457,517,403 3,64,228 2,953,4 1 1 1 1
53-02. Other than U. S. Government taxes .... 13045725 1,960 7 661, 121,078,495 A 194 5 146 7 A
54. Other unadjusted credits.... ....... 33,637 i 393,702483 3-,252,460 342,150,531


I/Represents accruals, including the amount in default.
g/For all Class I .Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended June $118,094,177 d $39.484.46 0157578,64
6 months ended June 205,016,806 it.60. 70 226, 77957
12 months ended June 514.912.043 ,'3797 433
The net Inoome shown fr June 1946, is after a deduction of 360 59 taken out of
operating revenues to create reserves for land grant deduotionse n dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: June
1947, 0.88; June 1946, 0.72; 6 months of 1947, l.li; 6 months of 1946, 0.68.


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.
SIncludes obligations which mature not more than one year after date of issue.
/Excludes reports of 5 roads for the month of June and 6 months of 1947 and 4
roads for the month of June and 6 months of 1946, where net income (or deficit) was
absorbed by the controlling company.
SExcludes Toledo, Peoria and Western Railroad.
# Figures include returns of the Seaboard Air Line which emerged from receiver-
ship on August 1, 1946; St. Louls San Francisco, which emerged from trusteeship on
January 1 1947 and Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947.
d Decrease, deficit, or other reverse item.








INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR .THE SIX iONlTHS ID DI) JUNE 1947 AND 1946


M T WAILYAY OPRAII ONG BXMEDiEAL INCOME DIVIDEND B T RAILWYT OPERATING T INOOF eRAL INICOMl DIVIDmD
iiTOo i O TAXES APBOPRIATIONS INCO3JG TAXES APPBOPRIATIONS
Region and railway e gion and railvay
: 1947 1946 1947 1946 19 1 1946 1947 2946 .1947 1946 1947 1946 1947 1946 1947 1946

United States Total .................. $368,422.991 $14,762.585 $205.016,.6 $21,360.770o $143.911.889 $12.361,505 $92.770.531 $10.875,8 58 Southern BReion Continued
asten District Total............ .. 104.611,715 A 122s812 28.262.8149 75.979.9 32.798.081 d16.570,519 17.834.999 29,812,7 50 Olia eld ............ ........... $3,8 24 $1,6778 -25,089 #346 361
Colu bus and OGreonvill .............. d 12 53 22 d 1)36,242 1.153 13.~2 $9.850
Sow ngland Begion Total ............. 6.870,054 -,a .2J2.9 35.922 d 8.0.6 1,615,043 L 8.136 132.865 132,056 Florl a est Coast** ................... 1.597,5 2.3.367 4 517.1 283,489 283.245 -
Georgia R.R. Lessee Oranization .... 31607 38.071 -
Bansor and Aroostook ........... 1.159,14 638.993 906.932 378.55 .3 180.418 95,700 95.700 0 Geooria &t lorida* .. :...........:1 d 4 1 4 -
Boston and Maine ....................... 439.206 9864.79 1,499.9 4 899211 11 1 Goia sot n oria .........159. 1.973 5.15 91.000 1.000
Can.dian Nationsl Lines in N. le gend 4 58.721 4 626.829 d 666a 117 .- Gulf., Mobile and Ohio ......;.......... 3.686.779 d 14222 427.146 1 737.269 1os,56 -
Canadian Pacific Lines in Maine ........ 2 .I5 775-9 llinois Central ........ 6............ 13.,029,826 7.214.34 8.302.341 2.306,9 5.331.00 1.759.131 -
Candian Paci Lines in ermon..... 62 Louisville end hville.............. 9.076628 5.75582 7.89.582 3526.1 50 800 1.937.830 118.00 118.00
Central Vermont ....................... 191 51 a 1.53. 36.953 55,408 Mississippi Central ................... 81.1 59,996 27,324 7,137 20,760 2.554 -
Maine Central............................ 1.106.463 5 .667 43A 1 413696 3776 37165 36.356 ashvir e, Cohattanooga & at. Louis .... 1,06.910. d 4577 50017 06 6276.869 161,29 255,982
New York Connecting .................... 2143.386 507,830 4 1 779 152, ewOrleans and Northeastern ............... 869.609 265525 74.395 151.5520.0o 92.000 -
Nov York. Bov Haven and Hartford** .... 2560.572 1.A1 o 4 B995832 d 285,060 a 3 0 Norfolk Southern ..................... 19.619 4 65.60 7.953 .628 -
Rutland* .............................. d 473.233 5 m._ Seaboard Alr Line ..................... 5.5229 5520,5.918.811 4.270.751 .0 1.47,000 375.000
--Southern .............................. 10.872.591 8.0O5,357 6.324.61 3071 4.185.000 1,635,000
reatL Lkes region Totl ............. 49,127.672 10.748.532 20.658.,59 d 1 .248.6949 12,004.,8607.744 6.986.227 6.265.112 Te nessee Central ........ ....::::.. : d 1.... 1.0 .... 5 17.500
Western B.. of Alabasa 1.............. 18.230 155.83 I5.579 -
Ann Arbor ............................. 292.555 67.202 189.356 1d 40.3 115,970 1da3 -
Ctbria e itnd i ................... 223, 256.0 20.57 4 .826 255.316 190327 120,00 120.000 WVestr District tot .............. 159.411.0714 100.559.920 100.283.610 34.152.042 1 64.0o7.070 9.013.473 45.502,419 49.734.814
Delar nd Hudson .................... 073.455 1,00.661 2.211.661 93.51 1.504.000 -
Delaare, Lackewann and Western ...i.. .38 ,3 1,489,607 11,488.326 05 I .1. 371.909 d 91 --
Detroit and Mackinac ................... 201.611 36,761 148,506 4101,467 1,000 Northwestern egio otal .......... 34,202,192 5.703.325 17.155.472 26761 6.734,69 d 5.610. ,765,53 14.020,514
Detroit and Toledo Shor Line .......... 520.216 190.604 472.111 139 012 295,511 93,633 120.000 12o0000
rie .................................. 5.583.358 1.763.7384 51 8 1.351,692 564 3,244,907 3.244922 Chicaso nd North Western ............. 3.408407 d 32 716.870 2.95. 25.000 1.143.159
Grand Trunk Wstern i ................ 2,260.811 d 1611 21d 9 665 .86 8 9 Chi o Grat Western ................. 734,148 80 98.28 145, 3 100000 22819
Lehigh end Nudon River ................ 152,999 106, Chi2oo, 9 .ilwawke, St. Paul & Pacific 7,803.287 2,3.,222 2.742485 3. 8 1.596,000 2.804,35 5.608.700
Lehigh and Nov ean a ................... 595,029 445.732 532.660 382.932 326,347 233.140 Chiago, St. Paul. Minn. & Oah ..... 389.328 ,d 1.5383 13 5 8 01 -
Lehich VallF ........................... 2.910.062 1.408,424 121.902 d 1.7.89 d 17.00 122.000 Duluth. Missabe and Iron Bange ....... 2,192.4 498 1,97 5 25,33 1,299.820 13.782
Mononghela ............................ 1.26.422 297.253 1,00.737 6 .4 172.139 172.151 Dulth, Soth Shore and Atlantic" .... 207.46 4 97.629 d 22712d44 0.79- -
Montour ............................... 399.694 136,181 392.769 1 1 ,111 240557 80,358 Duluth. Winnip and Pacific .......... 88.5 1 02 A 512 d 351 -
Mew York Central I/ .................... 13.225,000 3.277.524 2.053.711 985 72 790.687 11 485 reat Northern ....................... 7.103,605 4.02.564 096;039 89 3 1.930,000 31.372 4,638,824 4.638,816
New York, Chicago and St. Lous ........ 5.031.723 1,792,510 3,950.894 23529 2.257.563 1.01,694 360,594 Grn ay an Wetern ................. 161,981 4 1 0 172.817 349 99.46 4.626 125,000 125.000
w York, Ontario and Western** .....7 78 d d 1.140.59 d 1.453.99 Lake Superior and Ishpning ........... 206,960 d 29 212,576 2 130.400 9,758 107,100 107,100
New York. Su uehanna and WestOrn* ....m 176,0 7,386 9786 d 268 1..4 Minneapolis & St. Louis ............... 906.770 32 9g43.929 1d03 f 562.901 4 256.865 300.000 300.000
Pittsburgh and Lake s rie ................ 3,407,002 1.024,307 275.941 1,07,177 1,6s8,s31 631.36 1.727.300 1,727,300 Minneapolis, St. Paul a S.S. Mare .... 529.566 d 712M 6 37.3538 719.104 1,797,760
Pittstburg Shautn ........................ 3.176 71,7014 294.706 1216 Northern Pacifio ...................... 7.513.705 2.589.231 5,172,635 9 1,019,000 -
SPittbaurh West V.irgia.............. 5270,6042 2.6240 33.91.94 1 223391 19 59 6 Spokane International ............... 79.790 60,283 1.821 2, 7 17.44 471160 71.160
Wabash5 .2.......9........................,141 17, ,223,391d 11146352 59 6 598186 Spokane, Portland and Seattle ........ 904.516 d 1.62.0 31,42- -
Wiooonsin Central k/* ...... 1,971,235 200.000 ~ -
Central eastern eogion- Totl........... 48,613.989 10.740.045 8,440,212 4 8.220.770 19,178,114 2,250.639 10.715,907 23.415,582 n s en a .........5 12 4146 125 34.533
.. Central Western Region- Total ....... 82.175.9741 65.005,122 59.434.010 40.905.468 14390.1464 12.522.641 314.533421 344.93.407
Akron, Canton 6 Youngstown ............... 434,140 64,406 3314.758 204,683 1 86,493 39,1418
Baltimore and Ohio ............ ....... 15.613.229 5 9 5,218 031 16 0 1.657,230 7 Atchison, Topeka and Santas ...... 22,019328 20.757.858 18.467,267 17,639.043 13.051,829 11.484,170 109385.500 10.385.500
Besseer and Lake rie................. 3218,710 2672.701 1.703.851 Chicago Burlington & uitor .......... 15,085.830 12,959.545 13,320.867 11,0361149 8,341431 6,519,884 5.125,161 5,125.161
Central R.R. of Nw Jerse** ...........4 19993 1. 6 1,397,7641 d 39688 159 7.642 Chicago, cok Island md Pafiio** .... 9,152.077 6,663.500 2,714.470 499.261 -1.923.000 516.070-
Central B. B. of Pennsylvania.......... 3., 92 29r,.7 1.213.0149 2 .- Colorado end Southern ................. 4.961 1.994 d 182,561 20.41 37.575 -
Chicago A Bastern Illnois ............. 289.873 I1 1.- 11,000 .m 383,863 Colorado A& Wyoing .................. ... 182758 134.725 14,206 9808 10, 51500
Chicao a Illinois Midland ............. 673.415 21. 56 512.506 00 309.900 34 7 Denver and ato ,Gr e e.tsr ......... 3,116,920 1,322.837 995.76 276.799 -
Chicago. Indiaapolis and Louisville ... d 0 482.0 560.129 6 4,606 Port Worth and.Dver City ............ 545059 162,14a8 d 32 ,70,7h8 12,017
Detroit,.Tolodo and Ironton............ 1,.S 610. 1.485.039 3993?2 832,546 61,857 49.64 122.666 NrthwesteraP nfic .................. 272.856 d 3690 7- -
sin, Joliet and storn ............... 2,8141.536 4 5 j 2,61,906 1.751,062 Southern Pacific ...................... 15:091, 76 70 2 9,o 7,5.526 7,95526
Illinois Terminal ...................... so807.430o 31 02 528333 11 378.300 112.400 180.000 Southern Pacific Trana~. Systan g/ .... 2.11.,o 17,705.990 16.966.2794 8.922.322 13.073,057 7.I45,526 7.55,526
Long Island ........................d.. .2 4 .93.32.q .1 ToledoPeoria Western./............ -
issouri-Illinoi...........................:::::::::::::::: : 263 0 182,000 Uion Pac. .............. 15.6o00,5 11.025,761 20,601,834 9,S9,406 11.499.590 4,550.000 8,659.592 8,659.592
+r^ B.^ S: 4Vosprn H ^.tJ ....:... : ............... 0.3:527 1.57:0O 572.o0 2.87.64-2 2.777.628
Pennsylvania ............................ 11.803.601 d ; 4 2350,~957 1,911,000 411 6,583,877 19,751,631 Utah Railway .......................... 70.171 9.310 31.,6899A 289362 27,300 -
Pennsylvanta-Beading Seashor Lines .... .5i7 1.50 .ld 27.19o 8s3,00soo 1. Western Pacific...................... 1.033.527 1575,677767 1.092979000 572000 2,817,42 2777,62
leading .............................. 7. 267 .2.0 43.393.96 2139.397 2.7,70.52 1 4928,5 2,098.687 4 2.,098.311,5 0 t n29. 51ao uf ............... 57 55, 1, 57 19 71 290.0 00831
Western Marylandr ....................... 3.913357. -2.162- 9, 1.683.000 773,000 --0
n an Lake i.................. 3.,312.337 941,517 3. 5 955.663 2.32. 56.o0o 1.276,189 119.6 Beaumt.our Lke & ont, e La. tn ....... 1, 176.035 996.030 1.100.102 916.670 322.00 860.228 -
cheerak e ld Oiito.............-o.....k 23 9.731 11., 1 Is8.765l4 5 8 5 ........................ 13.4 2 1? 25.806 51,61614 1- 49.587
osn strt ................. ........ 4..400,2021 55.426.0477 76,03.9. 7 20.467.1977 47.036,738 19.91.557 29.1433.57113 29.3.5 Internatoial-Oreat Northern*. ............. 1 593 87027 d 1 A -3 -
then ~n-K .............an.sas. Ciy southern ..................3 3.333.0402 1.3 5 000 750.000123 4 420,
Pooahontas Boion Total................. 471.267 2411 142,L21 947.43.393.516 2822 39.3972 222 5.7 252 4 0 13. .52 21.067304 9 21.011.955 ansas. Oklahomu& Oulf............... 574.738 35,323 510.485 2 83.27 319.447 167.98 265.715 208.31
LAta an ..ouisian rkan7 1 5 sas ............ ..... 1.161.92 921.7123 997110 5 6183 786.000 258000 150000 -
Chesapake and Ohio .................... 23,9.7 33.3084 20.609.3181 .765.682 12.014,-01 5.946,158 11,911.385 1766, 1 land ll ........................ 13 51 2,3 82 510,951 43 49,8579
Norfolk and Western .................... 1,116,513 9,375,256 17.2715070 3 10,6,27 1,2900000 5,600,000 7.60317 7,65 7 iouri andono AUrans ............. 2.... ..8 8 2 5 d t. 4 I -
Richmond, Fredericksburg and Potomac ... 1.482.1422 1,75.0014 1.550.952 1, I3.993 1,0W17.94 1,216.093 31O.O32 430,032 Miouri-ana-Tox ................ 22 251.262 372 93 0 596.0
VirgCnion ............................. 4 ,789,601 d 148.7 2 3.962.53 1,291.5 2,432.597 66.270 1.563.575 1*56575 ou Pa Oifrlc ................. ... 7,19,02. 6,882.905 3.61T73e 4,12 0 550.000 -
Nuen+--olewv.. .. Orleans. Texas & Moxioo* ......... 1,557,487 2,684,19 212,:4 41 424,535 224,000 -
Southrn lion Total ............... 56.921.935 30.6814.375 33.76.43 2 220 21,266,486 6.39.030 8365,14 8.316,339 Oklahoma City-Ada-Atok ............... 42,192 39,535 20,183 1,O2 0.55 20- -
t. Loi .........Brownsville nd a xico* .. 1,347.197 911.430 1.036,069 491.,~29 321.000 706.232
Alabama Great Southern .................. 693.411 142.821 947.275 4289,202 409.000 314.000 781S725 7.725 St. Louis-S Prancisco .............. 4,55 6961.823 1.953.202 4 .7 1307.00 -
A etlant aintAnrews.159273,977 16275 3242 117.1443 5.727 30.000 St. Louis, San Prancisco and Txas .... 114.072 71 60,392 1139 40.000 d -
Atlonta &andWest Pnt... ..............d 14s.6:3 33,838 01.51 5,965 0- St. Louis Southwesterne ...............5.380,151 2,737,682 1,O070683 1.433.669 2,162.983 -
Atlantic Goast Pola .......24...2.. 9 7 WO 33,838 07
i oi............ 3,008,4 5035,337 1.96 900000 1,650.g44 1,651.047 San Antonio, Uvalde AGulf .......... d 337.500 d 1 6.15 4&443.472-
lCen O1tr al of Ge orl.gia'o* 26-T...................e.xas an9d 4ew Txsad owOrlseans .................. 7,31,e 67 5 9s6,767 129,500 .0213 2592575
Charlston A western Carolina .......... 219,081 d-1 1 22.3 20000 72.000 Texas d Pacific ..................... 3.620,381 3.962.124 2.552228 2,856,899 414,000000 1.67675 592
Cinitnnati, se Orlans an Texas Pa 2,949.936 1587071 2.071 :7597 1,755.000 505.000 1.406.835 1.406.835 T8x M can ......................... 278.249 15.328 208929 130,000 ,ooo- -


S Report of receiver or receivers.
** Report of trustee or trustees.
d Deficit or other reverse item.
SIncludes Boston & Albany, lessor to Now York Central R.R.
Formerly included in report of Minneapolis. St. Paul & Bault Ste. Marie.


oa Includes Atohison. Topeka & Santa Fe By., Gulf. Colorado & Santa Fe By.. and Panhandle & Santa Is Dy.
D ata not included in totals. Includes Southern Pacifi Co mpny. Texas and Noe Orleans 1B.. Co., and leased lines.
SBeport not received.
U. S. GOVERNMENT PRINTING OFFICE : 1947--0-750193





^ /s re .7. 9. 9/ P


UNIVERSITY OF FLORIDA

1 IIIIIIIIII II I 111111 Pill 11111111111
31262088511885 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
JULY 1947


UNIV. OF FL LII.
DOCUMENT DEPT.

U.S. DEPOl TO


U.S. DEPOaiTOMY___


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

Compiled from 126 reports (Form IBS) representing 130 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 July For the seven months of For the month of July For the seven months of

1947 1946. 1947 1946 1947 1946 1947 1946
1. Net railway operating income. ,9 ,47 $63,029,672 $429,31, $217,792,56 $55,646,635 050,179,32 $397,528,322 $196,460,26
2. Other income i6, 69,235 15553 057 114,303,94 I106,923,457 15,358,951 14,693,544 106,220,671 100,062,292
3. Total income 77,547,732 78,582,729 544,190,381 324,715,713 71,005,586 72,872,926 503,748,993 296,542,557
4. Miscellaneous deductions from income ... .-- -.. .-- 2,875,943 3,007,734 23,276,959 16,520,473 2,64o,348 2,902,740 22,564,558 15,974,115
5. Income available for fixed charges 74,671,789 75,574,945 520,13,422 308,195,240 6,31,231 6,970,16 481,14,435 2,56,442
6. Fixed charges:
6-01. Rent for leased roads and equipment 8496413 10,122,043 72,562,319 ,0,409 8,019,145 9,47,251 69,36,924 64,444,027
6-02. Interest deductions 25 ,50 2,526,247 10,780,793 204,7,207 20,43,01 23,267,334 144,201,70 67,411,170
6-03. Other deductions .... .. 165,284 122,740 1,022,231 -,46,598 153,159 108,520 943,715 746,'0s
6-04. Total fixed charges 34,343,977 36,771,93 254,36,34 273,90,214 28,615,35 32,873,105 214,932,509 2, 2,6025
7. Income after fixed charges..... 4,3,12 36, 915 2654,079 3,255,026 39,74 53 37,097,081 266 ,96 7,966,47
8. Contingent charges 3,297,828 3,723,071 24,506,289 22,53,954 3,2 7,8 3,723,071 24, ,289 22,3,9
9. Net income /.. 37,024,984 33,080,4 242,41,790 11,720,072 3,443,025 33,374,010 241,95,637 25,3143
10. Depreciation (Way and structures and Equipment) 29,444,900 28,460,541 204,700,92 19,957,91 27,076,563 26,057,679 188,206,131 182,239,176
11. Amonilation of defense projects.-------------------- 1,346250 954,67 9,466,45 4,72,3 1,225,762 87,619 8,622,76 4,287,788
12. Federal income taxes .... ..... ...... 21,322,717 12,006,575 165,234,606 24,366,060 19,947,392 11,725,230 I 0,535,517 22,671,097
13. Dividend appropriations:
13-01. On common stock 3,524,813 3,080,449 74,050,798 86,763,512 3,524,813 3,080,449 74,050,798 86,763,512
13-02. On preferred stobk 1,365,765 935,075 23,610,311 26,127,870 1,365,765 935,075 23,610,311 26,127,870
Ratio of income to fixed charges/ (Item 5+6-04) 2.17 1.95 2.05 1.13 2.39 2.13 2.24 1.21

l Clas I RailwayClass 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 July Balance at end of July
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road................. ........... $146,392,858 $119,779,463 $131,502,878 $106,395,543 Number of A Number of
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment ...... ....271,248,327 148,018,292 256,311,735 134,586,554
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707)..... 567,75,54 51,21,256 550,224,469 565,19,657 July 1947 90 $41,697,297 31 $4,672,313
20. Other unadjusted debits 19 14,19 16..319.50 127.287.1 i ,665.079 July 1946 2 39,570162 6,9,31
7 months 1947 0 273,77,482 31 31,635,6-2
21. Cash .... ............ 950,015,557 976,71 2 51,793,919 87,419,95 7 months 19 130,741,926 58 119,021
22. Temporary cash investments..... ..... ... 94,253,26 1,223,17,3 793,20,1 1,03,252,9
23. Special deposits.... .... 155,393,115 177,14,043 ,140, 3 16,10,6
24. Loans and bills receivable 5590372 417,674 5,130,206 412,48 MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
25. Traffic and car-service balances-Dr. 46,461,247 47,029,908 43,32,496 39,932,10 OF DOLLAr o SOFsOLr S
26. Net balance receivable from agents and conductors 119,101,933 11,399, 7 109,46,300 103,703,22 90 90
27. Miscellaneous accounts receivable 283,17,338 36,171,1 1,525,862 310,324,706 00-
28. Materials and supplies 73,709,544 61 42,706 678,593,512 56,655,142
29. Interest and dividends receivable .. 13,7,95 1 ,935 11 43 15,241,37
30. Accred accounts r.ceivable --- .. 1 ,2 _,33 i ,352 1 4622 11,573,3--1---
31. Other current assets 3.,360,3 089 32.164. 2 2o.53140 2630.835
32. Total current assets (items 21 to 1) 3,457,618,814 3,759.540.705 3.029,315,951 3.312,651,179 40 ---- ---- 40
40. Funded debt maturing within 6 months4. 63,946,284 65.00.,187 79.250.350 74.832.034
41. Loans and bills payable5. 5,55,00 11,5,058 5,550,000 10,685,000 0 -20
42. Traffic and car-service balances-Cr. 2,454,665 110,466,77 72, 20,470 99,295,403
4 Audited accounts and wages payable 45,953,424 479,873,636 417,649,779 437,543,278
.Miscellaneous accounts payable 22,785,182 11,496424 192,132,098 151,199,006 I0
45. Interest matured unpaid 39,432,300 44,70:,640 34,637,135 41,403,311
4. Dividends matured unpaid 7,553,037 14137,27 14 3 13~ 48,396 -20 I I I I I- l-I--3- ---- -20
47. Unmatured interest accrued 60,352,231 59,217, 59604,756 58,615,02 2 o
4A. Unmatured dividends declared 13,10,554 12 360 13,0,5 12218,30
49. Aeruea cooounts payable -- 163,98,305 186 144 58 164 ,570 -40------- ----40
50. Trxse -oor od 60..2,74",764 0 640,4615 564,602,2o 55o,622,774
1Other current ii l es 97, o 2 9 25
52. Total current liabilities (items 41 to 51) 1,755,758,567 1,845,980,896 1,604.134,252 1,669.233,503 -60 ---- ------- 60
53. Analysis of taxes acemred: -80 I I I I -80
53-01. U. S. Government taxes ... 456,78,102 4,1 ,432 433,632,848 447,877,870 i FMM J J A S 0 N J F MAM JAS0ND F MAMJ AS 0 N
53-02. Other than U. S. Government taxes 146,o1,682 146,6.3,13 .130,969,422 132,745,004 1945 1946 1947
54. Other unadjusted credits ........ ...... .. .... 359,034,339 394,743,1 2 316, 65,0o4 346,131,458
i/Represents acruls including the:i~o amoun in dfault


I/Represents accruals, including the amount in default.
2/For'all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended July $121,829,02 (12,418,819 $109,340,208
6 months ended July 213,21796 8.032.277 221,952,P
12 months ended July 51,885.18 9 .g 4I' q 2.
The net income shown for July 1946, is after a deduotion of $490,818, taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: July
1914q, 1.10; July 1946, 0.95; 7 months of 1947, 1.01; 7 months of 1946, 0.67.


4/ Includes payments of principal of long-term debt (other than long-term debt
in default) which will become due within six montes after close of month of report.
Includes obligations which mature not more than one year after date of issue.
a / Excludes reports of 5 roads for the month of July 1947,and 7 months of 1947,
and roads for the month of July 1946 and 7 months of 1946, where net income (or
deficit) was absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the Seaboard Air Line which emerged from receiver-
ship on August 1, 1946; St. Louis San Francisco, which emerged from trusteeship on
January 1, 1947, Denver Pand Rio Grande Western R.R. Co., which emerged from trustee-
ship on April 11, 1947, and the St. Louie-Southwestern which emerged from trusteeship
on July 24, 1947.
d Decrease, deficit, or other reverse item.


Subject to revision


Oct20'47










INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE Sr iVE, ONaTHS ENDGD JULY 1947 AND 1946


NET RAILWAY OPaT TING Nw INOMS FJIDEAL INCOME DIVIDEND NT RAILWAY OPIEATING N IN cOM PD URAL ICOWME DIVIfDE
INCOME TAXES APPROPRIATIONS INCOME TAX"a APPROPRIATIIIS
Region ond rail. ay Re-Igl anir raialw.N

1947 1946 1947 196 1947 1946 197 47 146 1941946 1947 1946 .1947 1946 1947 1946


United state Total ........... 6 4931l~ r 779.5[.1,4,91 1,2.7 1524


$24,368,080 $97,661,109 $112,891,382


iEstera District Total ............... 123.114.250 19.626,701 33.752,703 d 67.704.046 35,410.649 16.232.809 18.694.351 30.387.701

New !agland Region Total ............. 7,662,175 d 1,0.3.279 d 1.062.630d 9.335.,49 1,548,823 482.940 151,458 150,560

Bcngor and Aroostook ................... 1.164.583 577.391 868,424 272,556 526,703 117,418 95.700 95,700
Boston anr Maine ....................... 3.387,910 945.590 1.049.597 d 1,02.74 992,194 134.366
Canadian National Lines in New England d 691.034 d 733.296 d 809060 d 8.55 --
Canadian Pacific Lines in Maine ........ 225,873 d 2. -- -
Canadian Pacific Lines in Vermont ...... d 7 041 906,581 -
Central Vermont ........................ 266.80 d 593130 d 742.057 1.550.012 43553 62,60 -
Maine Central .......................... 1255.190 4, o 60o3863 21212 468.133 8,750 55,758 54,60
New York Connecting ................... 259.704 579.513 4 167622 162,634 a 23332
New York, New HBveu Hnartford** ..... 3,035,329 4 1.297.896 1.131.90 d 5.62,.05 d 481760 250
Rutland *" ............................. d 505.159 d 270. d i 7.87 d 7 -4.72


Great Lakes Region Total ............

Ann Arbor ............................,
Cambrin and Indiana ...................
Delaware and Hudson ....................
Delaware, Lackawanna and Western ......
Detroit and Mackinac ..................
Detroit and Toledo Shore Line ..........
Erie ............. ...............
Grand Trunk Western ...................
Lehigh and Hudson River ...............
Lehigh and New England ...............
Lehigh Valley ..........................
Monongahela ............................
Montour ...............................
New York Central aj .................
New York, Chicago and St. Louis ........
New York, Ontario and Western*" ......,
New York, Susquehanna and Western* ...,
Pittsburgh .an Lake Eri ..............
Pittsburg & Shwa t ....................
Pittsburgh A West Virginia .............
Wabash ................................


Central Eastern Region Total .........

Akron, Canton & Youngstown ..........
Beltimore and Ohio .....................
Bessemer and Lake Erie ................
Central R.R. of New Jerseye ..........
Central R. R. of Pernsylvania ..........
Chicago & Easterr Illinois ...........
Chicago & Illinois Midland .............
Chicago, Indianapolis .nd Louisville ..,
Detroit, Toledo and Ironton ...........
Elgin, Joliut and Eistern ..............
Illinois Terminr. ......................
Long Island ............................
Kissouri-Illinois......................
Pennvylvania ..........................
Penr.ylvania-Reading Seashcre Lires .,.
Breeding ..............................
Staten Island Rapid Transit ...........
Western Maryland .......................
Wheeling and Lake Erie .................


21.492.897 d 16.514.033


194,443
35,599
2,494,461
1,666,760
154,302
504,877
1,663,180
d 3894,9L0

628,082
d i29.64
1,0711,673
437.287
2,475,675
1h,205,669


3,194,460
314,.148
408,324
4,281,854


d 46,867
328.900
81,528
15, 4.
161,084
d 5.835.858

505,631
1.00,67
183,001
d 7. .703


13.060.681 d 14.108.2147


116.636
292.055
1,714,000
395.773
103,8lr4
316,636
1.316,530
10,000
110,001
384,832
d 17.500
200,829
262,844
897,306
2,367,063
d 1.964
1.955.756

264,905
2,383,131


d 'j,
21467562
-





70,917
308,351
d 122.000

110,323



& 457.382

d 1.03.24


a 143.12
2,100,021


13,322,4361d 41.854,564


348,088
5,886,311
3,'53.285
d1618.775
1,'15,3C9

584,349
d 750.376
1,653.612
3,o43,461

d 2.599.774
474,327
o 8,090,278
l 1.967,?O
5,0oo0599
d 646,298
2,837.632
3.669.696


1 16.A, R.59
506.985
d 3,705.725
295,031

117,614?


a 353,130
50,757
d 761.833
352,465
d 21. 5l .hh45
d 1,701.295
857.082
d 6 41,76
1,059,143
1,3542.751


212,175
1,71'5,90e
2,183,615
41
5,203
500
354,000
14606
914,778
1.925.287
445,900

?90,000
4,142,834
214,h13
3,455.954

1,787.910
P.318,000


d 10,991
12,071
3s4,577
68,42


74,857

70,092

145,,2o0

216,o00
d 5.619,95o
205,030
1,003,E5C

1,032,000
83e.0oo


120,000


140,000
3.244,907
94,140




1,622,541


1,727,300

598.186


10,995,19

86,493






490,664

150,000


6.583.877

2,37,8595

1,276,189


6.285.112


120,000


140.000
3,244,922
94,140




360,561


1,727,300

598,186


23.952,0


39.418



383,863

122.666




19,751,631
2,378,262


1,276,189


Southern District Total .............. 112.680,613 67,613.740 80.683.050 27,197.31 50.305.069 24,647,589 32.630,501 32.565.317

Pocahontas Region Total .............. 50.781,434 31.456.319 45,854.944 27,919.819 27.156.856 17.056.691 21.287.712 21.231.857

Chesapeake and Ohio .................... 24,937,326 15,340,409 21,044,123 11,697.348 12,286,107 7,632.991 11.911,386 11,766,031
Norfolk and Western ................... 19,023,867 11.663,282 18.866,627 12,489,613 11,125,000 6,925,000 7,472,219 7,472,219
Richmond, Fredericksburg and Potomac ... 1,699,384 1,509,938 1,782,074 1,981,413 1,19,964 1,455,090 340,032 430,032
Virginian .............................. 5,120,857 2.642,690 4,162.120 1.751.45 2,555.7s5 1,043.610 1,563.575 1.563.575


Southern Region Total ...............

AlabPma Great Southern .................
Atlpnta & Saint Andrews Bay ............
Atlanta and West Point ................
Atlantic Coast Line ....................
Central of Georgia* ...................
Charleston A Western Corolina .........
Cincinnati, New Orleans ?nd Texas Pac.


, n .
I I I I


1,110,598
181,077
d 15,934
5,177,219
a 3,075,51
83,763
2,430,846


7?1. Q98


461,488
43.768
84,097
d 559,182
d 2,732,800
d 257.75.2
1.070,187


23.14.2213


509,000
131.162
l7-
900,000
96,772
S 20,000
2,030,000


7.590.898


54,000
h0.535
d 172.681

96.772
680.000


11.43.2899


784,725
30,000
24,636
2,474,271


1.417,057


11.333.460o


784,725

4c9,272
2,474,4714

72,000
1,417.057


Southern Region Continued

Clinohfield ...........................
Columbus and Greenville ..............
Florida East Coast** ..................
Georgia .R. Lessee Organization ....
Georgia & loridas ...................
Georgia Southern and Florida ..........
Gulf. Mobile and Ohio .................
Illinois Central .....................
Louieville and Nashville ..............
Mississippi Central ...................
Nashvillo, Chattanooga & St. Louis ....
New Orleans and Northeastern ..........
Norfolk Southern .....................
Seaboard Air Line ....................
Southern ..............................
Tenneseee Central ....................
Western Ry. of Alabma .............


$4,098,409

1,207.753
376,034

4,026,722
14.957,659
9.670,138
92.360
1,209,926
1.036,316
229,522
5,967.083
11,916,910
129,22


Western District Total .......... 7


Northwestern Region Total ...........

Chicago and North Western ...........
Chicago Great Western .................
Chicago, Milwaukee, St. Paul & Pacific.
Chicago, St. Paul, Minn. & Omaha ......
Duluth, Missabe and Iron Range ........
Duluth, South Shore and Atlantic*" ....
Duluth, Winnipeg and Pacific .........
Great Northern .......................
Green Bay and Western ..................
Lake Superior and Ishpeming ..........
Minneapolis & St. Louis ...............
Minneapolis, St. Paul & S.S. Marie ....
Northern Pacific ......................
Spokane International .................
Spokane, Portland and Seattle.........
Wisconsin Central ** .............


Central Western Region Total........

Atciilon, Topeka and Santa Fe o/ ......
Chicago, urlingtcn & uQincy ..........
Chicago, Rock Island and Pacific" ...
Colorado and Southern .................
Colorado & Wyoming ...................
Denver and Rio Grande Western ........
Fort Worth and Denver City ...........
Northwestern Pacific .................
Southern Pacific .....................
Southern Pacific Transp. System ....
Toledo, Peoria & Western / ...........
Union Pacific .........................
Utah Railway .........................
Western Pacific ......................


Southwestern Region Total ...........

Beaumont, Sour Lake & Western** ......
Burlington-Bock Island ...............
Irternatioual-Great Northern** ........
Kansas City Southern .................
Kansas, Oklahoaa & Gulf ...............
Louisiana & Arkansas .................
Midland Valley .......................
Missouri and Arkansas* ................
Missouri-Kansas-Texas ................
Miasouri Pacifie* ....................
New Orleans, Texas & Mexico** .........
Oklahoma City-Ada-Atoka ...............
St. Louis, Brownsville and Mexico** ..
St. Louis-San Francisco ...............
St. Louis, ban irancisco n d Texas ....
St. Louis Southwestern ..............
San Antonio, Uvalde & Gulf** ........
Texas and New Orleans ..............
Texas ard Pacific ....................
Texas Mexican ........................


41.617.1815


3,894,888
917.468
8.318.254
354,485
4.569,452
295,372
106,966
9,339.046
146,587
02.517
1,045,989
375,106
8,788,983
92,277
773.691
2,213,075


100,960,250

29,?h3,231
16.84s,s56
11.845.300
585,053
208,172
3.675,339
1,1114,78
365.798
18.171.464
26,633.861
-1
17,933.462
50,426
1.415.'65


$2,142,805

2,362,861
914,509
d 0.786

d 1,222,910
8.203,675
7,454,408
62,578
d 312.552
300,521

6,709,810
9,456,237
d 58.711
185,521


d 1.257.130

d 539.965
100,780
677,512
9,458,064
7,982,089
28,792
561, 54
888,063
20,912
4,654,625
6,6055,89
d 2214122
117s165


$55.170
A 36.212

d 53'.

d 3.056.589
2.397.908

d 1.056.347
4,954,890

165, 21
d 299.7 1

3.565, 81
d 187. 453
165.799


5 18,155.031 127 606,0 7


$379.270
1.,153


A. 000
890,269
6.079,000
5,230,600
21,659
345,619
625,Q00o

1,550,000
4,255,000
d 751.814
73.51.888
79.518.888


$404,088
13,926
93,245

4,000
125.859
1,862,131
2,611,335

d 161.29
99,000

1,960,o00
a 10. 05
Wi


$6,177.600



375,000

60,000


$9.550





6,171,600
255,982



17.500
75.000


.359.51 3oo h6.336,257 49 64


.
,
,
1
.
I


12.172.117


21.1l6.6771a q..27.066


5.606.642l a 4.77.0o71


.r15.539a 114.074.061


50,989.169


1.240.780
50,943
485,905
3,916,425
642. 555
1,342,720
155,114
d 108.15
3.015,668
12,543.655
1.772,559
40.563
1,522,625
5,362,307
178,012
6,162,193
d 446.62;
42,396
4,269.190
380,703


--~-- .--- A.u~r _____ .-'. =1 ~~~-


1,267.046
d 576.L42
2.819.151
d 1,s448.923
2,261,875
d 8S.925

5,397,820
d 5.58
4 17?P000
d lH7 683

3,419.744
71,321

652,2?71


26,019,075
14,983,532
9,027.959
97,847
152,016
1,754.146
4e,.754
d s,42,151
13.462,397
21,192,168
a 1

13.499,580
24,016
2.137.920


723,697
d 42, 61
2,439,112
d 990.964
U.333.337
7 291.

S156,123
40s,054
1,084.697
15,865
5.650,.458
20.735
a 1.071257
1,079, 83


I 1.696.682
Sd 1l.4I.011
a 2.70 .11
1,861.301
d 636.365

3,266,148
11,156
d 11

a 90.
547,956
4,654
S2.043.867
3 47.500


78,235.357 52.562.836


25,134.117
14,694,110
4,2143,68
a 162,8. 4
171.761
1,203,620
506.795
167,055
6,798,855
21,107,136

24,426,771
5.575
1.046.114


22,361,319
12,653.794
1,737.158
d 157.336
109,146
a 4
a 147.606


11,763,383

12,090.681
d 20.006
1.590.432


25,000
d 221.182
1,358,000
2,452,562


2,570,000
106,877
250,200
662,901

1,005,000
17.484

350,000


55.526,488

17,517,829
9.533.531
2.968,000
51,412
123,000
485,099
420,692

10,577,835
15,221,822

13,799,590
12,500
7.000


d 250.000

1,110,853


31,372
72,052
9,758



d
21


2.804,330



4,638,824
125,000
107.100
450,000
719,104

71,160


1.143,159
228,819
5,608,700



4,638,516
125,000
160.650
300,000
1,797.760

71,160


18,170,991 34,533.421 34.493.bo


17,563,799
7,69s,5s4
1,430,640
1 19.549
d 51.900

12,017

dl5.271.000
04000

5,750,000
760.000


10,385.500
5,125,161





7,55,526
7,545,526

8.,659,592

2.817.642


10,385,500
5.125.161





7.545.526
7.545.526

8,659.592

2.777.628


. 4--.- -


28.213.993


1,152,647
a 611.500

2.967, 839
567,042
1,150,600
53.733
4 107.270
o037
4.414,037
201,765
14,913
1,158.602
2,335,088
115,331
4,661,441
d 567.46
6,903.267
3,031.096
300,231


15,385,758


366,000


1,585,000
352.052
909,000
54,852

906,000
850,000
go6,ooo
196,000
18.855
368,000
1,582,065
76,000
2,751,947

4,6143.987
544,000
182,000


2,887,298


420,000
265.785
150.000











2,051,513


1.370,893


420.000
208,318
150,000











592,575


37.574,365


1,175.787
177.934
271,500
2,923.1405
397,554
1,101,316
57,191
d 9,118s
2,758.,931
8,556,382
2,853.971
41.267
977,109
603,406
109,524
3.527.084
d I8.909
7.729.771
4,604,422
139,638


8,990,517


1,089,570
a 206.291
SW 18228
1,891,156

677,232

1,207,b83
d 411.130
1.370.749
15,701
503,586
d 86.49

1,995,786
a 461 ,2
5,133,067
2,925,175
80,022


2,561,380


860,228

900,000
179.536
303,000
4,914
d 154

d 499.879
23,332
706,23P
d 216
9197 74
d 2.821.000
985,000
56,000
56:,oco


____ ___ ___ ____ ___ ___ ____ I JI. 1 5 1. SJ. LA. 6


* Renort of receiver or receivers.
** Report of trustee or trustees.
d Deficit or other reverse item.
'Includes Boaton & AlbarO. lessor to New York Central R.B.
/ FormPrly included in report of Minneapolis, St. Paul & Sault Ste. Marie.


SIncludes Atchison, Topeka & Santa Fe By., Gulf, Colorado & Santa Fe B4., and Panhandle & Santa Fe 1t'.
SData not included in totals. Includes Southern Pacific Company, Texas and New Orleans R.R. Co., an" leased lines.
U Report not received.
U. S. GOVERNMENT PRINTING OFFICE: 1947-0-750193


55.287.716


314.770
239.177
3,.95,375
4,618,076
216,466
560.650
6,080,787
2,279,176
155,501
700.498
2,936.364
1.339:064
45,303
16,022,011
5,463,823
d 56,9358
169,B99
3,966,338
383,616
677,ePo
5,809,960


60o164.339

467,048
17,985.106
4,091,345
d 2.361.228
.4563.552
315,826
773,252
d 393.438
1,840,7'T8
3,230,111
950,104
d 1.520.07h
164.9833
16,192,839
d 1,4017204
d 317.676
4.31,4181
3,780,002


79.508
340.197
1.355.768
1,709.636
63,587
215,s07
d 1.365.631
d 1,621!208
99,548
579.235
1,988.479
370.277
185.447
7,386,354
3,087,733
d p7T.69


1,525.765
82,016
125,637
3,535,595


1,90s,224

99.455
d 2,71.946
1,2113,18



d 5 125015
7M9,661
O 107,509
397, 512
298,586
322,569
d 1.o-6 O46

3,080,852

2,b27,973
31 43,340


61.899.179


36.157.421


881.264
174,927
d 3s.904
2,6714,ugl

238,q43
3,h4]l,?56


194.893
69.100
67.789
d l, KS,hl4
12,336
d.on
2,011,764


"'--""~I ~'' "' '


7
7
1 t t 1 7 ,


i ov9 1 ,0 09


....... .................. ------------ 1 1 1 --, 1 i .- i -i i -- -


- -


-


f I


;,I


*1 1


-L-


,


i


-t-


-r--


I


-r


-t


20,801.145 d 1.641.622


9y


-I





-Cra C e. 3a = s 7/


Subject to revision


UNIVERSITY OF FLORIDA

IIIIII 2 0II 885I I8IIIIIl ill 9 ll93111
3 1262 08851 1893


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
AUGUST 147


UNIV. OF- FL LIB.
DLIUMENTS DEPT.

I U.. DEP nn

U.S. DEPOg"TORY


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

Compiled from 126 reports (Form IBS) representing 130 steam railways *
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

SClass 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
1947 1946 9 47 1946 1947 1946 1947 1946
1. Net railway operating income .. 680,824,826 %81,855,563 6509,995,690 6299,67,821 674,664,740 *75,39, 487 2t 99,508
2. Other income. 14,228,811 15,35019 129,037,783 122,274,479 12,965,526 ,17,844 9186,199 11499,500,137
3. Total income. 95,053,667 97,206,52 639, 33,73 421922,30 87,630,266 90,357,085 591,168,68 386,899,
4. Miscellaneous deductions from income ....- ...... ,1-1,697 2,880,0938 21:fl0:,6 19,1100,567 .3,308,r01 2,63,268 ,058,89 18,6173
5. Income available for fixed charges.... 91,607,970 94,326,89 26 10,1,78321,65 87,71 17 567,109827 368,2
6. Fixed charges:
6-01. Rent for leased roads and equipment .. 10,975,95 ,6,92 3 22 78,854,392 10,516,07 10,21,33 80,3p2,931 7 1,68,330
6-02. Interest deductions!/... ....... ........ 25,39162 27,085,360 2,172,256 231,871,68 20,139,860 21,858,67 ,3s1,31 189,269,81
6-03. Other deductions...... ... ....... 123,369 1,179,712 969,98 142443 109,151 1,6,158 8 ,960
6-04. Total fixed charges. 36, ,878 3 1 290.,22 31195,928 30,798,310 32,222,1 2,7o o 264,
7. Income after fixed charges .. 55,083,092 5, 8 3223,2 1,596 90,25,805 53,523,5 55,491,716 32,3,007 103,458,15
8. Contingent charges .. .- ,0-,5 28,216 29,26 03J2275,0,51
9. Net income1..... 5 34 53,502,279 29,98 1 65,222393,1 909 5423,217 2 82,,
10. Depreciation (Way and structures and Equipment) 29,578,939 28,476,358 23,290,9 227,43,948 27,180,277 26,118,004 215,39,110 208,7,1
11. Amortization of defense projects -----------..... ------- 1,354,223 973,152 1 0, 5,8,795 1,233,737 60,3 9,56,505 110
12. Federal income taxes ............ ....... .......-... .30,73813,817,49 196,160,735 38,185,929 29,2,12 0 14,34O94 189928,2 37,011,591
13. Dividend appropriations:
13-01. On common stock. .......20,6 17,168,19 91.331,244 103,931,651 17,280,446 17,168,139 91,331,244 103,931,651
13-02. On preferred stobk .. -. --4,318,989 4,1;4,94i 27,929,300 30,273,811,318,989 ,145,941 27,929,300 30,273,8
Ratio of income to fixed charges/ (Item 5+6-04). 2.51 2.50 2.11 1.29 2.74 2.72 2.31 1.39

All Class I Railways 1Class I Railways Not in
All Class I Railways ReCeivership or Trusteeship#
sReceivership or Trusteeship ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/
Selected Asset and Liability Items Balanoe at end of August Balance at end of August
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road--...........--.... ..... .......... ......1--------- 73,003,063 139,O46,14,8 155,953.512 1123,088,452 Number ofNumber of Am
18. Expenditures (gross) for additions and betterments- report Amount reports Amount
Equipment ..... ... ......... 317,255,982 175,170,993 299,770,954 161,490,057 -----reports reports
19. Investments in stocks, bonds, etc., other than those 62 416
of affiliated companies (Total, Account 707) ....... 76 792 e 1 92 5,288,2 28 2
20. Other unadjusted debits ................................................ ..7 1 7 ,tonhn h 1 Z A690 6,6 8, 7283 732 01 86,, 04
21. Cash.................- ---.......................... .---------------1,023 16,o 0 1 ,o,2,742 9182, i 9s 6614a,14 0 months 1996 6,25,717 53 175
22. Temporary cash investments-.................................. ......- 80,627 1,250,163, 7 6809,21,A 1,9 644 ,
23. Special deposits............. .. 31, 17035---- ------------ 121,007,96 161,946,95
24. Loans and bills receivable .................... .-11, ,3 -.--- 10,1 18 '2 ILLIOS NET INCOME-ALL CLASS I RAILWAYS MILLIONs
25. Traffic and car-service balances-Dr.. ... .4- 7, -539,o*52 48, 60, 44 40, 38,98 or O OF DOLLIA
25. Net balance receivable from agents and conductors 127,5,194 114,896,377 117,82,509 105,23,596 0
27. Miscellaneous accounts receivable..... 280,132,28 6,2222 466,041 287, ,80
28. Materials and supplies .... 7.2,039,101 0,- 680,-173 575, 0
29. Interest and dividends receivable .. -17 46041, 21951, 43 1 5,4 ,2 19,
30. AccrUed aoooutits receivable 5 ,389,601 175,22,4 138,447,701 15969,6 41460
1. Other current assets ............. 0,183 33. 27. .803 27209783 60 -- -
32. Total current assets (items 21 to 1) 31554,057,768 3,844,788,750 3.122,517,874 3,401,958,745 40 40
40. Funded debt maturing within 6 months/ .- .. 86,435,030 84,423,993 82,029,859 73,941,474
41. Loans and bills payable 5/... .. 5,310,000 11,054 058 5_,31oo 10,685,0 o ------- I---I,- -- ---- 20
42. Traffic and oar-service balances-Cr.... 90,141,395 11,48,2 80,113,oo6 03,37,391
43. Audited accounts and wages payable ... ..2 .. 5,29535 ,1464,169 48,541,361 466,124,488.
Miscellaneous accounts payable..... 194, ,732 2 166,287,929 13,548,912 17,000,33 0
49;. Interest matured unpaid ...-... 35, 45,525,059 30778939 42,245,832
46. Dividends matured unpaid ...... 7,73 55230791 7, 31 8, ,955258 -
47. Unmatured interest accrued .. 69,7,55 69,902,398 68,7,20 69,2,153 -20 ----- -
4g. Unmatured dividends declared.... ..... 29,61,108 28,13114 29,91,108 28,03,4
49. Acorned aooounts payable I0- 210,714 400 19 6 1 -40 -400 891- --40
STaxes aoorued 605,672,608 62,6,113 59, ,294 592,650, -40
SOther current liabilities- -.-.- 97840577 114.26.405 9.56.8 106.90.692
52. Total current liabilities (items 41 to 51) 1,844,930,194 1,910,108,702 1,65535.397 1,734,030,048 -60 ---'- -
53. Analysis of taxes aooredl 80
53-01. U. S. Government taxes.......................... 450,643,806 498,512,179 430,766,144 454150,094 0
53-02. Other than U. S. Government taxes 1..-..----- 18551,028, 2 .I,.13 18,322,85 13,OO,2I 1945 9NlJ F I*|47
54. Other unadjusted credits..........................-..-..-...-- 355.978,4 -41,141,08 3l3,787,641 355,38,6 1947


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Inorease
3 months ended August t12,415,602 $101,770,072 26,645,530
6 months ended August 21355,542 13675412 6
12 months ended Auust 5 13676 231 '.
The net inoom shown for August 1946, is after a deduction of 309,352, taken out of
operating revenues to create reserves for land grant deductions in dispute.
S/ For railways In receivership and trusteeship, the ratio was as follows: August
1947, 1.27; August 1946, 1.20; 8 months of 1947, 1.04; 8 months of 1946, 0.73.


4Y Inoludes payments of principal of long-term debt (other than long-term debt
In defauTt)whioh will become due within six months after lose of month of report.
5/ Inoludes obligations which mature not more than one year after date of issue.
Exoludes reports of 6 roads for the month o August 1947, 4 roads for the
month of August 1946, 5 roads for the esiht months of 1947, and 4 roads for the eight
months of 1946, where net income (or deficit) was absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the St. Louis San Fransiooo which emerged from
trusteeship on January 1, 1947, Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947, and the St. Louis-Southwestern which emerged from trustee-
ship on July 24, 1947.
d Deorease, deficit, or other reverse item.


6Dec'47









INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE EIGHT MONTHS ENDED AUGUST 1947 AND 1946


R' AIL WAY CPBATING N INCOM PIDERAAL INCOME DIVIIIWD ME RAILWAY IPDRADTING E INCOME I IK O(ME DIVIIIWD
I0CO0gl TAXES APPRCOPIATICiSs INOME TAXES ABPPROPmRIATIS
Region and railv er Region and railway
1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1917 1946 1947 1946 1947 1946


gnite
d States Total .... 1


aatern strict Total ............... 148.598,180 46.819.758 45,719,195 d 53.479.375 39.861.574 d 15,294,026 19,181,907 30.875,25
rev Mgland egion Total ............. 9.145.620 624,202 828,561 9.057,381 1,732,090 d 1,140.242 199,308 198,41C

Bangor and Aroostook ................... 1,119,392 521,46 781, 7 13083 473,149 56,418 143.550 143,550
Boston and Maine ....................... 3.89358 .725 121439 8 2 1,119,678 150,432 -
Canadian National Lines in r Ingland .d 7394 d 809.2 d 874 4 946 -
Canadian Pacific Lines in Maine ...... 15,568,9- -
Canadian Pacific Lines in Vermont ...... 81 -
Central Vermont ....................... 35 5 182 50,153 69.808
Maine Central ...................... ...142221 8 8, 52570 55.758 5,86
e York Connecting .................... 30,176 697 d. 182 4 21,3 a
New Yovk, Rew aven and Hartford$* ..... 3,980,252 d677 567 1 460 d 16275 00 -
.utlan.e* .............................. a I e3.7 7 ,,2


Great Lakes Region Total ............
Ann Arbor............................
Cmabria and Indiana...................
Delawars and Ha deon ................
Delaware, Lackawanna and Western .......
Detroit and Mackinac ..................
Detroit & Toledo Shore Line ...........
]rie. .............................
Grand Trunk Western ....................
Lehigh and Hudson River ................
Lehigh and w glad ..................
Lehigh Valley ..........................
onongahela ............................
Montour.............................
wne Tork Central 11 .................
ev Tork, Chicago and St. Louis ........
eov Tork, Ontario and Vetmrn* ........
eow Tork, Sasquehanna and Western** ,...
Pittsburgh and Lake hri ...............
Pittsbrg &. Shavnt ..................
Pittsburgh & Vent Virginia ............
Wabash ................................
Central Eantern R eion Total .........
Akron, Canton 6 Toungaton ..............
Baltimore and Ohio.....................
Bessemer and Lake rie ................
Central R.R, of Nev Jermy*e ...........
Central R.I. of Pennsylvania ...........
Chicago & Eastern Illinois.............
Chicago Illinosl Midland .............
Chicago, Indianapolis and Louisville ...
Detroit, Toledo and Ironton ............
Ilgin, Joliet and lastern...............
Illinois Terminal ..................
Long Island .........................
Missouri-Illinois ...................
Pennsylvania .........................
Pennslvanal-Reading Seashore Lines..
Reading ................................
Staten Island Rapid Transit ............
Western Maryland .....................
Wheeling and Lake Erie .................


24.822.4061 d 1.0i.51ln4


_______- _______I J ----- __ ~.)yL4 .'*


264.235
84.663
2.778,261
2,021.072
181,690
547.236
1.962.993

785.9o
d 208.011O

50777
4,967,640



486.7418
4,88.711l


560,101
S 1.067.907
212,575
d 5.16&37.
152,372
631,258
d 1.505.18

253,562





L 1 3 2
4.54


160,008
349.667
1,916,000
530o.6
3143667
1.533,560
10,000
117.000
41l,:53
d 2g00

305.864
608.355
2,770.063




2.67i.T9


--I -.-------


21.725.3501d 13.907.114


21.180.572 d


3H

d 91;.51.,
141,222
d 1.285. 88
d 3 .S8

385,348
M9, 535
155.707





d 968.820


47. 11115.25


120,000


160,000
3,244,907
94,140




1,622,51

1,727,300

598,186


6-.i i. 3


120,000


160,000
3,244,922
94.140




360,5

1.727,300

598,168


726,791






3.398,022
749,35T



d 728.15C
192.?-90


23,288






266,126
548,b02
d 1,8.9592.










1 :55 702
1423,778

S. a ---



1 .875.70


232,861
1,902,008
2,758.811
241
6,291
46,000
452,700
4.606
1,002,202
2,150,369
531,800



3,8480o39
2,069,910
9Cs w


12,029
32.871
814,312
8,370
s80

127,057
133.415
51,555
201,300

259,000
a 6.422.0so

1,159.863
1.337.000
1 1.170


.. ......7. .. 1 0 ." 1 1,2,C a3.
Southern District Total ...............128,857247 84.838,861 93.258172 39.763,631 58.519.604 30,817,287 ,44,644,390 44,293.51
Pocahonta Region Total .............. 60.422.935 41,211.593 54,611,479 36,9,89577 32,409.196 21,460.651O 33.290,878 32,950,168
Ches eake and Ohio .................. 29,896,433 2o,842,56e 25,270,033 16,580.55 14,862,997 9,500,776 17939,756 17.509,046
Norfolk and Western ................... 22,53 81 1 ,908,142 22,356453I 15,79365 13,150,000 8.9.5,.00 10,98.4,7 10.988,427
Richmon, reaedriosburg and Potomc ... 1.912.5121 2,1a, 1 : 2,001.,13 2:307, 1o 1,337,964 1:6 090o 340,02 '430, o2
irginian .............................. 675409 3339664 4,980o.7 2,3081, 3.058,235 1,380,785 4.,22,663 .,022,663


86,493






490,6&4
180,000

6,583.877
2,798,302

1.26.1q-


39,14



383,863

122,666



19.751,637
2,797,96.

1.279.q-l


Southern Region Total ................
Alabaea Great Southerm .................
Atlanta & Saint Andrews Bay .............
Atlanta and West Point ............
Atlantic Coast Line................ ....
Central of Georgia** ...................
Charleston & Western Carolina .........
Cinoinnati, Nev Orleans and Texas Pao. .


- -- -- .---- ,
q
,
1
,
I 1
.3 3,


1,243.376

204.,
4,488,.537

2.746.436


529.441
63.966
120.053
d 470.-3 9
d 2,4j3,4

1.3o,300


629,000
146.486
9.902
900,000
110,596
20.000
2,300,000


884.793


784,725
30,000
24.636
2,474.271

1.,427,280


784,725
49,.27

72,000
1,427,280


7L 909


eport of receive or receivers.
Ce Report of trustee or trustees.
d Deficit or other reverse iten.
a Includes Boston & Albany, lessor to Nev York Central LR..
/ Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.


2.774.o0


5 6C636C


1 h.) 3n


Southern Region Continued
Clinchfield.........................
Columbus and Greenville...............
Florida at Coast* ................
eorgia R.R. Lessee Organization ...,
Oeorgia & Florida* ...................
Georgia Southern and Florida ..........
OGf, Mobile and Ohio ................
Illinois Central.....................
Louisville and Nashville ..............
Mississippi Central ..................
Nashville, Chattanooga & St. Louis ....
New Orleans and Northeastern .........
Norfolk Southern .....................
Seaboard Air Line....................
Southern............................
Tennessee Central .....................
Western B. of Alaba ...............


$4,61 ,6




4.6.511
17,062,0514
10,940,2041
102,064
1.235.465
1.150.653
200,157
6, 400931
13:505836
II P0.01


$2,6263
2,166,892
14.733



---.A,167
d 6

9,10,680o
14,566

d 26,76
10,982,430
d 809401
219.234


-t '-


veston district Total ............... 232.540.263


Northwestern Region Total ..........
Chicago and North Western .............
Chicago Great Western ................
Chicago, Mileakee, St. Paul & Pacifio.
Chicago, St. PalZ, Minn. Qshha ......
Doluth, Mlisabe and Iran Bange ........
Dbluth, South Shore and Atlantic** ....
Duluth, vinnipeg and Pacific ..........
Great Northern ......................
Green Bae and Wsternm ................
Lake Saperior a Isfpeming ...........
Minneapolis St. Louis ..............
Minneapolis, St.Pal & S.S. Karie .....
Northern Pacific ......................
Spokane International .................
Spokane, Portland and Seattle .........
Wisconsin Central )/e ...............


Omtral Western Region Total ........

Atchison, Topeka and Santa 7* / ......
Chicago, Burlington & niny ..........
Chicago, Bock Island and Pacific** ...
Colorado and Southern .................
Colorado Wyoming ....................
Deer and Rio rande Western .........
ort Worth and Dweer City ............
Nortlrastern Pacific ..................
Southern Pacific .....................
Southern Pacific Tranp. System ./
Toledo, Peoria & Western ...........
Onion Pacific ........................
Utah .................................
Western Pacific .......................


d 2.9172
d 196:46


2,632,186
10,788.117
9,011412
29,565
488,445
982,
d 40
7.258.377
a 2?.1


d 64,724
d 580.208
y




6693:11
Sd .8308

1 d .6


989.61 ,02 56,21476,70


246.709






13.499
.670

1.841,#5f
8,6m


I6.8.01l5.U1117.1.Q 977947 2.gp4~I IRLo, a~47 a
---- .-..-,J----


$433,464
1,153


84,000
1,115,269
6,934.000
5,9 600
22,132
292,820
720,000
1,590.000
4., 5.000
d 8.576
95.W5


$453.056
13,926
3345

3.415
227.913
2,542,131
3.580,523
d 161 8


E d
2,608,582


*6,177 .6



375.000

60,000


60 0


$9.850





6,177,600
255.982



17.500
75.000


5 036C 354


51,7147.708 27.675.14714 2.257.121 11.1149.1424J11 a 14.~66.i~ 11Ln7ko~


505,003
9

380,890
129,185
12,213,823
113.890
575,782
1,179,555

10,

2,549,670


a
S 1.09412.




197.184
1.377,205


1.362,058
96.21"
2.9l8,480




121,266
582.151
1,212.709
15,865
6.329.787
22,982


r4,371. f7 .


96,996,258


29,897.742
18.176.723
1.01909.554

.2,
558.175

24,944.000


2,53 9 .1 S


I8 -------------------


1 4 .. ------ -- -----4.7-.7. '.7 .


225.000


3,610,791


3.320,000
114,705


1,095,000
22,430

350.000


350.000


I __


2,181,105






50.000
d 23.179
0-5~


2,804.350



4,638.82i
125.000
107,100
45 0000
719,10,
71,160


29.240.58T
18,126,27T
5.608,603
d 81.492
22El,5b4
1,g84.98(
811. 851
248,071
7.656.761
24.450,99i

29,821,15i
d 892


25:.779.6
15.42,0969
2.782.097

d 15,242.8
d 1~.a

14:58555:697
15.622,308i
ell .91


33.295,12141 12,151,6Cc 18,2714.337 2,7142,080 2,857,291 1.170.891
_____ 4 + 4 I----------------------


a3152,259
11,666,731
31920.000
160,098

635.899
2.554,499
17 .931
16.999.590
14.900
83-000


83,000 1,010.000 2,817,6142~


20,120,9
9.432.481
2.1n.10!
26.55
a 16.20
12,033



7.519.366
1,010,000


10,385,500
5,125.161





11,318,289
11.3L8.289
13.98,819
2.817,6


1,143,159
228,819
5,608,700



4.638,816
125,000
160,650
300,000
1.797.760
71.160


10,385.500
5,125.161





1U.31,289
11,318,289
13,984,819
2,777.,628


1.170.891


1,168,441

3.417086
450,256
1,311,787
6.323

10,.05,122
3,004.514
44469
1,:08,614:
1.677,624
139.249


5,173:,845
166.039


1.216,76
6o3.621


615.041
1.3140.711
47, 71
d 130.491

5.47125
101,657
14,032
1,248,01O
2,8142608
17 ,7714
5,427.057


3.655


1,079.6


356,9114
858,562

1 2
580.413l
1,297,68E
15.013
.595,80

2.399.614

/3.,308.281
95,098


396.000


378,955
1.074.500
54.3149
1,316,000
1,350,000
166,000
20,050
1,916,065
111,000
3,158,987
5,291.431
674,000
200,000


860,228

1,090,000
196,854
428,000






d 216


420.00C
265,785
150,000










2,051.513


420,000
208,318
150,000










592,575


121,316,045


33.837:141
20.691,872
14.377:999
173.366
257.327
4,708,667
1.43.:076



21.917.656
42,212
2,00M.3711


Southwestern Region Total ...........
Beanmont, Sour Lake a Western** .......
Burlington-Rok Island ....... .......
Internat onal-reat Borthern-" ........
Kanss City Southern ................
Kansas, Oklahoma lf ..............
Louisiana 8 Arkanas...............
Midland Valley .......................
Missouri and Arkansas ...............,
Missourtl-Kasas-Texas................
Missouri Pacific** ....................
RNw Orleans, Texas & Mexio ,* ......
Oklahoma City-Ada-Atoks, ...............
St. Louis, BroWnsille and Mexico ..
St. Louis-San Pranoisco ..............
St. Louis, San Franoisco and Texasu ..
St. Louis Southwesternm ................
San Antonio, Uvalde & & ulf* ........
Texas and New Orleans ..............
Texas and Pacific ....................
Texas Mexican .......................


59.476,510
1,287,822
153,.U114
719.629
4.597.506
701,375
1,561.624
168,.46

879,:099
1,900.406
43,788
1,673,642
6,285,136
208.563
7,094.982


434,701


/ Includes Atcbison, Topeka & Santa Po By., Gulf, Colorado & Santa Pe ,., and Panhandle & Santa Fe 4y.
S Data not included in totals. Includes Southern Pacific Compay, Texas and Nev Orleans .. Co., and leased lines.
R report not received.


U. S. GOVERNMENT PRINTING OFFICE 0-1947


63.795.659


10.256.4oE


63.643
422,555
1.955,925
2.323,975

d %4660

133,900
715.815
2,762,002
492.293
256.527
12,165,295
5.065,707


119,739
225,903
4,115,156


401,636
289,086
3.917162
5. 406668

21,1
7,02,3324
2,7014.2141
162,218
868,807
3.566.372
1,264,012
516.255
18.526,002
6.385,625


437.123

6.,5,791


75.656,901


522,637
20|595,739
5,014,693
1 2,198

947,335

3,684,658
1,122,59

23.085 4

d a
."1- 3


15,939,154


179.941
139,688
d 1.44..475





505,886
8561.088
S389,860
4.581,166
d 856.597
4,o65.6

3,171a.313
1.872.2M


1.040.089
197.370



3.942.5'0


271,655
93.670
100.506


26.2 l noos


5


12


4


I I


i I


-r


11


1


-_I


-t


_r


-r


-- i I


11


il


Yj


ri


LL


ol


t.L





I


A


11


L


11


-I


OIL 771 72MI ------ ----- ............. I


-1- i i i


-r


11


11


:L


I I .


-t


-t


I


56$ 222 352 $196 16 5


83$ 185 929 $119 26 2


ll.q94.Q121 & 13.R7-Q.r7


7_ r7.n h


1.9


97.779. 557


22 662 668 55 43 241


14.on7.o6


51.747.708S


27.675.474


2.287.27I


11.149.4451 a 4.66.lor


Ti'.soo


Z.4l-.525


96,996.250


95.040o.594 64.499.169


68.355,775


24.286,781T


43.6n.4,


4.591.39q7


L


18.274,337


2,742,080


2.887.298


33.295.12 12,151.600








Subject to revision


UNIV. OF FL LIB.
DOCUMENT DEPT.

IA* ~ -A nnq


U.S. DEPOSITORY


rC i/ Z-s. Z 4 ; 5P4 -2/A


UNIVERSITY OF FLORIDA

II 1 11111111111 11901 II INTERSTATE COMMERCE COMMISSION
3 1262 08851 1901 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


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

Compiled from 126 reports (Form IBS) representing 130 steam railways *
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All Clas I R s Class I Railways Not in
All Class I Railways Receivership or Trusteeship if
Income Items For the month of September For the nine months of For the month of September For the nine months of
1947 1946 1947 1946 1947 1946 1947 1946

1. Net railway operating income. 47,968,461 $67,538,702 $557,964,152 $367,186,520 6$46,346,380 64,140,531 $522,309,120 8.335,862,656
2. Other income 14,158,696 14,278,016 143,19n 480 136,552,496 12,968,648 13,560,834 135,367,905 131,177,198
3. Total income.. 62,127,157 81,816,718 701160,632 503,739,016 59,315,02 77,701,365 657,677,o?5 467,039,854
4. Miscellaneous deductions from income .... ... .. 3,24,29298 2,533,429 28,202,960 21,933,996 3,251,048 2,409,078 27,496,184 21,241,067
5. Income available for fixed charges... 58,832,859 79,283,289 672,957,672 481,805,020 56,063,980 75,292,287 630,180,841 445,798,787
6. Fixed charges:
6-01. Rent for leased roads and equipment 10,187,468 9,584,886 93,725,720 s8,439,276 9,947,734 9,321,106 90,825,642 84,544,500
6-02. Interest deductions /... .....25,425,297 27032,536 231,597,553 258,904,104 21,102,083 22,641,287 192,781,024 219,27147
6-03. Other deductions....... 166,355 130,365 1,36,068 1,100,334 154,783 16,146 1,246,956 972,367
6-04. Total fixed charges.......... 35,779,120 36,747,787 326,669,341 348,443,714 31,204600 32,078, 59 284,853,622 304,o04o4
7. Income after fixed charges..... ...... 23,053,739 42,535,502 346,288,331 133,361,306 24,859,380 43,213,748 345,327,219 140,994773
8. Contingent charges .. .... .......2,906,783 ,496,005 31,152,818 28,099,59 2,906,783 2,496,005 31,152,818 28,099,459
9. Net income 2/..... ..... 20,146,956 40,039,497 315,135,513 105,261,847 21,952,597 40,717,743 314,174,401 112,895,314
10. Depreciation (Way and structures and Equipment)...... 29,486,338 28,441,182 263,777,270 255,875,130 27,579,738 26,579,242 246,777,201 238,802,330
11. Amortization of defense projects.--.. .......---. 1,336,566 1,139,580 12,157,235 6,98,375 1,236,700 1,030,751 11,174,968 6,261,000
12. Federal income taxes................................................ 20,381,450 5,798,420 216,542,185 43,9,349 19,924,282 6,111,003 209,399,144 41,695,094
13. Dividend appropriations:
13-01. On common stock. ....... 9,676,324 15,161,926 101,007,569 119,093,578 9,676.324 15,161,926 101,007,569 119,093,578
13-02. On preferred stok............... ..... 1,189,238 399,184 29,118,538 30,672,995 1,189,238 399,184 29,118,538 30,672,995
Ratio of income to fixed charges/ (Item 5-6-04) 1.64 2.16 2.06 1.38 1.80 2.35 2.21 1.46

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
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road..................................................................................................... 201,4.33,118 $160,101,585 185,991,786 $143,965,635 Number ofNumber of
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment ..................... 361,690,081 213,046,377 345,248,061 197,813,789-rpt reports
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707) 570,00313 50,04,4 557,216,601 568,364,410 September 1947 8 342,148 39 $15,195,192
20. Other unadjusted debits.............................................................. 17330 01 173.858660 132.73.301 11347071 September 1946 6,721,476 36681,979
9 months 1947 89 353,498,591 33 38,363,078
21. Cash ... .974,325,463 1,036,524,197 895,822,188 951,814, 67 9 months 1946 71 211,188,161 51 105,926,314
22. Temporary cash investments----- ......... -- --- ---------1,001,8 323 76,270,172-85,265,475-1,036,022,478
23. Special deposits ................................116,343,295 136,176,200 179337 ,936
2. Loans and bills receivable .................... .. ..,8 .,851 393,793 10871,570 39,465 ILLON NET INCOME-ALL CLASS I RAILWAYS
S Traffic and car-service balances-Dr. 48,868,152 51,619,917 46:398,573 45,243,60 LLSOLLS
26. Net balance receivable from agents and conductors 133,517,963 121,638,545 126 5,700 115,280,715 0 S90
27. Miscellaneous accounts receivable .. ... 280,402,849 316,665,057 241,141:531 271,054,222 90
28. Materials and supplies ........ ....... 741,955,445 640,54,410 690,409,638 594,967,967 o
29. Interest and dividends receivable... ........... 17,98,703 20,46,469 16,401,419 18,926,681
30. Acnrued accouhte receivable .......161,378,21 167,044,191 147,021,778 153,476,318 60 1 60
31 Other current assets .... 3 6 7 424 Z731 ,6 15 ,23 9 P q r 7r P 5 68 n 710 A
2. Total current assets (items 21 to 31).. 3,552,539,712 3,749,137,285 3,193,450,830 3,392,199,719 40 40
40. Funded debt maturing within 6 months .... 126,994,317 97,688,181 124,501,267 89,506,275
41. Loans and bills payable /- -.....-...-..-..... .........- ..... 5,640,000 13,922,683 5,640,000 12,505,000 20 -- -0
42. Traffic and car-service balances-Cr.. 81,422,651 112,927,676 74,998,778 104,203,323
43. Audited accounts and wages payable ..497,087,361 480,684,430 46,374,108 448,310,240
44. Miscellaneous accounts payable ... .... 23,758,898 178,503,811 194,398,452 151,158,867
49. Interest matured unpaid ....... 47,020,087 58,128,288 44744,521 56,237,856
46. Dividends matured unpaid 16,688,251 15,592,377 16,i19,642 15,323,768
47 Unmatured interest accrued .. ........................... 65,616,487 62,363,222 65,242,921 62,013,545 20
4g. Unmatured dividends declared ..13,84,587 8,36 6 13,884,587 8,369,356
49. Accrued accounts payable .. .. ...... ...... 171,46, 188,8 09 157 011,36 171,968,002
Taxes acrued .. ...... ................. .... 632,04, 576,745,34 598,317, 25 533,11,595
Other current liabilities .... .... .... 5969 111.495.211 89.187.0 107.511.162
52. Total current liabilities (items 41 to 51) .. 1,847,838,901 1,807,580,449 1,723,218,914 1,670,612,714 - -60
53. Analysis of taxes accrued; I I I I -O
53-01 S. Government taxes ....................,J 469,69,653 417,4U 2,3 005,096 37,04 ,193 FMAMJ JASO
53-02. Other than U. S. Government taxes....... 162,159,758 159,263,04 14,22,529 145,967,402 4 s s o 947
54. Other unadjusted credits .................................. ........ ......--------- 346,328,136 389,025,865 312,196,916 351,863,439 19


jIRepresents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Inorease
3 months ended September $110,118,707 $126,622,617 d $16,503,910
6 months ended September 228,212,884 87,138,151 141,74 /7
12 months ended September 498,408,133 80,858,976 417,549,i7
The net income shown for September 1946, is after a deduction of 1321,294, taken out of
operating revenues to create reserves for land grant deductions in dispute.
/For railways in receivership and trusteeship, the ratio was as follows: September
1947, 0.61; September 1946, 0.85; 9 months of 1947, 1.02; 9 months of 1946, 0.83.


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 one year after date of issue.
Excludes reports for 4 roads for the month of September 1947 and 1946, and 4
roads for the nine months of 1947 and 1946, where net income (or deficit) was absorbed by
the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the St. Louis San Francisco which emerged from
trusteeship on January 1, 1947; Denver and Rio Orande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947, and the New York, New Haven, and Hartford, which emerged from trusteeship
on September 18, 1947.
d Decrease, deficit, or other reverse item.


Statement No. M-125
SEPTEMBER 1947


IZg~l'~5









INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE NINE MONTHS ENDED SEPTEMBER 1947 AND 1946


NET RAILWAY OPERATING NI IRCNOME FEDUL IfcCOMU DIVIDEND INM RAILWAT OPERATING NG INCOM FEDERAL INCOME DIVIIEN
INCOIS TAXES APPROPRIATIONS INCOME TAXES APPROPRIATIONS
Region and railway 1 Region and railway

1947 1946 1947 1946 1947 1946 1947 1946 1-947 1946 1947 1946 1947 .1946 1947 1946


Unit d State Total 4557
5


$43,984,3491 $130,126,107 $1149.766,573


astern District Total ................ 155.444,765 65,483,776 39.340,017 d 47,200.266 41,613,674 d 17.280.o014 20,738,990 32,154,306
New England Region Total .............. 9,164645 1,642,130 d 2,293.829 d 9.127321 1,470,118 d 1.755.169 199,308 198,41C
Bangor and Aroostook .................. 1,119,351 422,132 746,947 38,777 452,257 d 33.082 143.550 143,55C
Boston and Maine ....................... 4,203,562 2,127,13 1,210,287 d 793.66 1,137,261 166,E97
Canadian National Lines in New Enland .. d a 5S051 d 924144 d 1.010319 1,02,15
Canadian Pacific Lines in Maine ......... 64,568 d 1 9 2 -
Canadian Pacfic Lines in Vermont ....... d 9329 d 0 -
Central Vermont .......................... 7,056020 56753 77,
Maine Centr ......................... 1,516,336 971,65 79,193 197,20 549 7 2,776 55,758 54,865
New York Connecting ......16,072 761,309 d 7929 219,273 d 14 9 -
New York, New Haven and Hartford ........ 4,086,14 124,525 d 725.160 d 99
Ratland' ................................ 530.144 d 231.272 d 716


Great Lakes Region Total ..............

Ann Arbor ..............................
Cambria and Indiana .....................
Delaware and Hudson .....................
Delaware, Lackawanna and Western ........
Detroit and Mackinac ....................
Detroit & Toledo Shore Line .............
Erie ....................................
Grand Trunk Western .....................
Lehigh and Hudson River .................
Lehigh and New England ..................
Lehigh Valley ...........................
Monongahela ............................
Montour ...............................
New York Central a ...................
New York, Chicago and St. Louis ........
New York, Ontario and Western** ........
New York, Susquehanna and Western** ....
Pittsburgh and Lake Erie ................
Pittsburg and Shawnut .................
Pittsburgh & West Virginia ..............
Wabash ..................................


Central Eastern Region Total ..........

Akron, Canton & Toungstown ..............
Baltimore and Ohio ......................
Bessemer and Lake Erie .................
Central R.R. of New Jersey** ............
Central R.R. of Pennsylvania ............
Chicago & Eastern Illinois ..............
Chicago & Illinois Midland ..............
Chicago, Indianapolis and Louisville ....
Detroit, Toledo and Ironton .............
Elgin, Joliet and Eastern ...............
Illinois Terminal .......................
Long Island .............................
Missouri-Illinois .......................
Pennsylvania ............................
Pennsylvania-Reading Seashore Lines .....
Reading .................................
Staten Island Rapid Transit ............
Western Maryland ........................
Wheeling and Lake Erie ..................


12 125 527 d 10 2 222


280,729
137,569
3,036,657
2.,175,s53
220,978
559,686
1,773.135
d 855.003
193,22
960,591

999,8411
42,641
d 1,990,361
5,46,012
d 2,035.616
d 227,839
1,293,479
390,045
524,819
5,203,061


20.50g.319


1,087,419

25:0084
d 4,377,17
A 5f to, 114
175,92C
749,559
d 1.35o093;
286,307
321,97,
d 6,62.3,54
3,870,355
d 2,392,276
d 382806
2,106,779
d 152,o04
a 40,48,
2,711.051


d 27.799.72'


61 205 157 d 16 014 715


8.151.614


5, 1 ,
I 1 I


170,119
409,635
2,083,000
5?,70

1.59:9
10,00C
128,097
588,629
d 17,500

327, 41
673,052
2,999,063
d 139.6
2,62S,h69

340,493
2,882,039


23.93S.399


351,19
d 933531
168,647
d2022.714
d 289
106,047
457,873
d 122,000
258,226
200,803
d 11,999.020
d 1,072,503

d 57.00s
273,548

d 1.258 510I


520.870


180,000


10,000
3,244,907
141,210


457,470
1,622,541

1,727,300

598,186


12.388.068


_______ _______ ________-- L-JatL~-I~ L 4j~ ---~-- _______ ____ __


1410,6417



a 8.776
9,512
1,981,126
3,695,466
870.531
d 2,141.726
581,473
d 7,051,37.
d 1,90,2
6,062,33C
d 835,17
3.697.535
4,666,389


67,861
a 14,940,51
2,196,85(
d 3,917,92;
491,43(
d 1,721,59S
269,06O
1 931,.2]
d 14,60

221,022
d 235,36]
494.355
d 114.77,10(
d 1,630,12
2,049,19(
a 720,S55
1,594,114
2.372,309


249,5s6
1,oI ,l108
3.1 ,899
53
6,991

520,700
4,606
1,073,510o
2,361,403
615,100

352,000
5,006,501
275,700
14,039,332

2,291.910,
2,946,000oo


23,221
53,671
1.237.577
,8570
1,600

167,657
188,990
324,681
253,900

302,000
d 7,225,650
263,603
1,857.044
1.566.000
1,498,000


109,480






490,664

270,000

6,583,77

3,114s,030

1,736,017


6.942.171


180,0Co


180, 00
3,244,911
141,21(


510,000

360,56&

1,727,30(

59,18t


25.013,


719


78,385



383,863

122,666



19,751,631

3,147,692

1,529,482


Southern District Total ............... 139,64,618 99,106,482 99.019.301 48,895,731 63,793,564 35,969,337 49,748,730 44,414,073

Pocahontas Region Total ............... 67,157,536 48,558,015 60,495,769 43,653.1481 35.959.615 25,225.732 37,672,515 33,090,168
Chesapeake and Ohio ..................... 33,153,253 25,313,948 27,824,071 20,141,92I 16,142,066 11,020,982 22,321,393 17,649,046
Norfolk and Western ................... 25,243,307 17,257,845 25,036,996 18,195,109 14,750,00 10,925,000 o1,988,427 10,58s,427
Richmond, Fredericksburg and Potomac .... 1,919,957 2,253,978 2,023,176 2,1453,326 1,49,964 1,747,090 340,032 430,032
irginian .............................. 6,41,019 3.732,244 5,611,526 2,563,154 3.,7,.55 1,532,660 14,022,663 11,022,663


Southern Region Total .................
Alabama Great Southern ..................
Atlanta & Saint Andrews Bay .............
Atlanta and West Point ..................
Atlantic Coast Line .....................
Central of Georgia** ...................
Charleston & Western Carolina ...........
Cincinnati, New Orleans and Texas Pac. ..


38.523.532


5.242.25(


5S7,o6i
94,511
152,761
147,92
d ).083.98
1,526,;42


27.833.949


10.743.605


12.076.215


784,725
30,000
24,636
2,478,156

1,437,502


11,353,905


784.725
49,272
2,474:474

72,000
1,437,502


Southern Region Continued
Dlinchfield ..........................
Columbus end Greenville ..............
Florida east Coagt"..................
Georgia R.R. Lessee Organization ...
Georgia & Florida* ..................
Georgia Southern and Florida .........
Gulf, Mobile and Ohio ................
Illinois Central .....................
Louisville and Nashville .............
Mississippi Central ..................
Nashville, Chattanooga & St. Louis ...
New Orleans and Northeastern .........
Norfolk Southern .....................
Seaboard Air Line ....................
Southern .............................
Tennessee Central ...................
Western By. of Alabama ...............


Western Dimtrict Total


$5,060,933
d l4o,175

482,651
d 96,04

5.136.362
2 329
15,246,37
11,861,902
113,658
1,240,724
1,327,334
26o,506
6,741,885
l4,999g,73
d 112,081
191,785


262,654,769


$3,111.626
35.809
1,897.0O4
82,970
d 72,95
158, 26
d 1.017.391

11,021.793
59,487
d 579,908

d 9,693
71 ,43931
12,857,4
d 131.013
--2Wr


202,596,262


a $130,324
d 2,5,93b


2,529,751
11,204,721
9.582,299
34.85i
314,2
402,399
1,139,168
dl 15,434
5,040^,15
7,803,560
d 282.204
176,06o


$56.312
d 1,5.8M63
d 694.881
a 2 6
d 3.311,277

7.987,484
a 16,723
d 1516 166
321,314

5.385.967
d 29S,150
220,160


W487,658
1,153


84,000
1,245,269
7,229,000
6,291,727
24,274
181,713
855,000

1,545,000
5,355,000
d 103,339
109.756


176,776,19d 103.566.382 111.131s,91s?


.. .. ... ------------------ -


Nortl estern Region Total .........

Chicago and North Western ............
Chicago Great Western ................
Chicago, Milwaukee, St. Paul & Pacific
Chicago, St. Paul, Minn. & Omaha .....
Duluth, Missabe and Iron Range .......
Duluth, South Shore and Atlantic** ...
Duluth, Winnipeg and Pacific .........
Great Northern ......................
Green Bay and Wentern ...............
Lake Superior & Isbpeming ............
Minneapolis & St. Louis ..............
Minneapolis, St. Paul & S.S. Marie ...
Northern Pacific .....................
Spokane International ...............
Spokane, Portland and Seattle ........
Wisconsin Central )/** ..............


Central Western Region Total .......
Atchison, Topeka and Santa Fe cj .....
Chicago, Burlington & Quincy .........
Chicago, Rock Island and Pacific** ...
Colorado and Southern ................
Colorado & Wyoming ...................
Denver and Rio Grande Western ........
Fort Worth and Denver City ...........
Northwestern Pacific .................
Southern Pacific .....................
Southern Pacific Transp. System] ...
Toledo, Peoria & Western f .........
Union Pacific ........................
Utah .................................
Western Pacific ......................


Southwestern Region Total ..........

Beaumont, Sour Lake & Western** ......
Burlington-Rock Island ...............
International-Great Northern** .......
Kansas City Southern .................
Kansas, Oklahoma & Gulf ..............
Louisiana & Arkansas .................
Midland Valley .......................
Missouri and Arkansas* ...............
Missouri-Kansas-Texas ...............
Missouri Pacific** ...................
New Orleans, Texas & Mexico** ........
Oklahoma City-Ada-Atoka ..............
St. Louis, Brownsville and Mexico** ..
St. Louis-San Francisco ..............
St. Louis, San Francisco and Texas ...
St. Louis Southwestern ...............
San Antonio, Uvalde & Oulf* .........
Texas and New Orleans ................
Texas and Pacific ......... .........
Texas Mexican ........................


61.356.581


5,442,504
1,375,239
10,766,272
739,.17
8,247,972
352,363
157,168
15.494,.98
82,266
723,014
1,372,845
957,184
11,766,942
120,851
1,033,908
2,723,246


136,895,229
38,100,554
23,391,.71
15,768,503
301,565
292,508
5,393,40C
1,626,211
462,4h46
2? ,532,663
34,151,421
25,301,297
31,338
2,693,326


40.431.166


33.826.87d 12.798,605


4502,023
31.276
198,583

3.415
285.967
3.050,131
,266,828
d 161.298
205,2$5

8,474
3,268,582
d 1.,600
d 9,O072


$705,596
6,177,600



375,000

60,000


25,295,056 59,638.387


14.386.107 d 4,369,.340


9.269.088


4 ---------------


5,703.105
d 220,566
6,629,401
a 630167
6,203,664
d 68,467
d 263 280
12,740,956
55,919
107,790
d 113,063
S 353.533,
7,922,094
107,499
754,405
1,855,409


110,679,072
34,416,289
20,497,279
12,157,763
188,391
189,826
2,980,945
559.970
d 772,283
17,722,026
23,099,48

19,419,052
61,325
3,258,4 5


1,805,069
131,853
3,182.307
d 91.47
7,9940,09
d 298.635
d 166,10C(
12.659.375
87,78C
729,99C
1,40o,321
277,028
7,031,405
29.032
d 1.293.34C
1,284,15


107.485.916
33,082,298
20,433,811
6,014,011
69,261
256,914
2,242,208
502,379
278,88(
7,976,673
26,451.969

34,501,499
d 26.111
1,854,11]


1, 751.478




S 587.263
9,819,02
68,520
117,011
d 115.516
d 451,377
3,415 ,27
22,106
d 1,696,628
399,726


75,199,670
29,791,213
17,666,970
2,781,789
a 179.461
134 57l
174,022
d 25
d51

16,697,901

18,752.495
4,693
2,605,224


545,000
d 373,3S2
1710000
4,655,007

4,369,499
119,152
447,600
860,901
200,000
1,325,000
27,330

500,000


76,589,020
23,826,492
11,159,631
4,182,00
241,962
173,900
885.499
641,4l4

13,409,632
19:152,248

19.899,590
14,900
164,000


A 442,000

d 4.598.OOO

3,314,923

d 797,295
80,757
S9,958
d 121,865
205,000
d 16.179
d 918,830
d 615,806


2,014,350



4,638,824
125,000
160,650
750,000
719,104

71,160


26,914,93 47,272,001


21,.75,501
10,151,982
2,133,188
26,559
d 20.200

12,033
d 17.24G.518
d 21:324:985

8.519,366
10,000
1,545,072


14,026,090
5,125,161





11,318,289
11,318,289

13,984,819
2,817,642


+ 4 1 -4 + +


64,402,959


1,523,100
147,203
838.755
5,255,55C
752.395
1,763,591
186,915
1 145.97
4,034,028
15,752,011
1.778,630
46,627
1,807,175
6,935,634
241,453
7,568,967
S509,5c4
10,619,05
5.354.55C
452,832


51.486,021]


1,200,242
126,923
256,105
3,904,291
502,668
1,524,247
81,869
d 121.914
3,264,960
12,949,606
3,214,525
35,576
1,177,174
2,514,387
13o.35;
4,84743i
d 174.628
10,377,462
5,751,027
223,741


35.463,40]


1,442,911
d 7014,98
d 1,029,20;

655.381
1,513,87e
55,771
d 7g
d 14,.7S4
2,003,591
5,547,161
& 24L85(
12,86
1,323,601
3,305,502
203,563
5,664,993
d 66],00
8,524,27e
3,765,80]
349,535


15,568,107


1,103,107
d 49.364

397.764
1,044,217
d 5,.446
d 119,539
1.260:475
1,458,774
1,286,303
2,190
627.593
d 5.816.917
50,950
2,869,44
d 632,908
7,305,965
4,137,051
141,010


20,159,820


260,218

1,890,000
400,744
1,231,200
63,826

1,353,000
1,350,000
417,489
21,057
322,824
2,112,965
126,000
3,903,881

5,742,616
739,000
225,000


2,749,413


g60,228

1,260,000
214,029
558,000
4,914

1,021,000
d 499,879
22,902
706,232
d 216
1,410,211

d 4.076.467
1,177,000
72,000


3,097,298



630,000
265,785
150,000










2,051,513


$9,850





6,177,600

255,982



17,500
75,000


73.168.194


24.355,314

1,143.159
228,819
5,608,700
10,281,250

4,638,816
125,000
160,650
300,000
1,797,760
71,160


47,231.987
14,026,090
5,125,161





11,318,289
11,318,289

13,984,819

2,777,628
1,580,893



630,000
208,318
150,000










592,575


1.377.956
210,387
36,665
3,220,080
d 4.004.275
35,832
3,099,077


729,000
160.697
18,620
900,000
124,421
15,000
2,580,000


131,156
S ,538
d 186,156
d 1.400.000

1,024,793


_______ J _______ 4. -1. 1 ________ .1 _______ 1 L _________________________ a ________ _______ _______ 14 _______ J _______ I


SReport of receiver or receivers.
** Report of trustee or trustees.
d Deficit or other reverse item.
Includes Boston & Albany, lessor to New York Central R.B.
Formerly Included In report of Minneapolis, St. Paul & Saualt Ste. Marie.


/ Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe By.
Data not included in totals. Includes Southern Pacific Compay, Texas and N&w Orleans R.R. Co., and leased lines.
fReport not received.
U. S. GOVERNMENT PRINTING OFFICE: 1947-0-750193


6C nai&io 1


45,214
342,019
4,317,040
5,955,391
299,865
630,911
7.473,775
2,591,440
175,591
1,053,759
3.738,613
1.336,740
552,765
16,014,239
7,015,622
d 837,675
185.247
5,264,054
479,229
869,776
7,160,485


5 625 R62 f


71,984
495,437
2,622,639
2,580,269
134,658
32o,463
1,44o,461
d 2,545,235
155,309
845,138
3,422,922
633.720
325,601
12,800,558
6,o06,338
d 1:154,302
31,821
2,304,622
136,930
317,392
4,621,900


.22226.020


28.216.021


572,246
21,678,027
5,791,019
d 3.056,668
5,912,166
315,537
1,089,516
d 214,567
2,218,703
4,005,020
1,291,224
d 753.476
56b8,476
24,169,778
d 1,260,220
S,861,251
d 415,255
5,627,504
,825,739


243,552
2,153,107
2,975.096
d 1,740o,825
1,205,188
d 1,411.435
514,70s
d 502,241
1,219,161
534,903
629,678
1,130,608
456.394
ll.Os.556
d 915,158
4,903.,2C
d 29315
3,690,65
2,373,570


50.54,.467


72,707,082


1,199,969
214,541
7,180
948,216
d 516,.777

44.45,851


350,075
127,317
132,655
d 249.421
449,413
d 112.245
-2,67458l


i


-t


n-


L


, I


, L


14-


1 1 1 I I


.-I


11


1


I


9 ,


)41


al


I2


- 1. .. 1 .- .- 1 i -1 4 -- -


-I


"I


104


Vi


"I


ol


I


-r-


-t--


-t-


i


-t


-t


2r-


- I .-,-I I -. -,. -i I i --I- i 1. -i 4


-t-
























UNIV. OF FL LIB.


Du
(l an nn (nnno


U.S. DEPO4TORY


7:e/Sr ,34.- 947//


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

Compiled from 127 reports (Form lS) representing 131 steam railways
(SWITCHING AND TERMINAL, COMPANIES NOT INCLUDED)

All Class I Railways Class I Railways Not in
Al Class I Railways Receivership or Trusteeship#
Income Items For the month of October For the ten months of For the month of October For the ten months of

1947 1946 1947 1946 1947 196 1947 1946


Net railway operating income..
Other income
Total income
Miscellaneous deductions from income
Income available for fixed charges
Fixed charges:
6-01. Rent for leased roads and equipment
6-02. Interest deductions !...
6-03. Other deductions
6-04. Total fixed charges...
Income after fixed charges.... .
Contingent charges-
Net income 2/.
Depreciation (Way and structures and Equipment).
Amortization of defense projects------------------....
Federal income taxes..... .....
Dividend appropriations:
13-01. On common stock.
13-02. On preferred stobk......
Ratio of income to fixed charges / (Item 5-6-04)


Selected Asset and Liability Items


17. Expenditures (gross) for additions and betterments-
Road. ....... ......................... .............................. ..........
18. Expenditures (gross) for additions and betterments-
E qu ipm en t.. ... ... .. ............. ...........................................
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707)...........
20. Other unadjusted debits.. .... .. ........
21. Cash ..... ...
22. Temporary cash investments.
23. Special deposits .. ...... .....
2 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. Aoormed acounts receivable
31. Other current assets
32. Total current assets (items 21 to 31) ...


40. Funded debt maturing within 6 months4.
41. Loans and bills payable 5/... ......
42. Traffic and car-service balances-Cr.
4. Audited accounts and wages payable
Miscellaneous accounts payable
42. Interest matured unpaid
46. Dividends matured unpaid
47. Unmatured interest accrued
1g. Unmatured dividends declared
49. Accrued accounts payable
. Taxes accrued
SOther current liabilities.
52. Total current liabilities (items 41 to 51)
53 Analysis of tmxes acdrued;
53-01CU.. S. Government taxes
53-02. Other than U. S. Government taxes
54. Other unadjusted credits.....


176,433,363
93,343,14o0

89:39,:219
11,319,758
25,100,029
36,7064 7
52,:6o99
4,903,591
29,341,103


12,551,813
7,915,305
2.44


1j,6:3,3'7
101,8g8,01i

99,:59,914
10,243,455
27,375,392
123,.05

3,510,09
5,20o7,153
28,423,R4
1,083,U1
8,232,599

3,28,360
,173,905
2.64


All Class I Railways


(A14,032,242
.,281,215
79 4313,457
35,707,oo6



:3,30R3 78

395.302 ,W66
293,185,453
29,249,029

113,59,32.09
37,033,8 43
2.09


051,952,300
605, 143,041
24 ,36.8475
580:774:565




31,509,857
162,931,287
284,313,754
52,216:948

122,921,938
36,846,900
1.50


#73,1,4,168
1,126,856
89,2241,024
3,985,625
85,255,399


1,351,524


49;451212


32,094, 20

12,551,813
7,915,305
2.67


$80,249,270
14,123,516
94,372,786



9,982,116
23,124, 898
109,287
33,212,301
58,629,320
3,510,1409
55,118,911
26,46,819
J74,372
8,813,109

,828,36o
,173,905
2.77


$595,058,013
151,669,719
746,727,732
34,988,144
711,739,588

213'4
316,85o0,41
394889,174
5,010,18P
359,878,994
274,340.730
12,43o,43
241,493,962

113,559,382
37:033,B43
2.25


L- I.)-- L _____________ I. ____________


Class I Railways Not in
Receivership or Trusteeship#


Balance at end of October Salance at end of October


6230,192,675
425,o10,637

-M =~2


972,906,126
1,096,297, 2
1l43,225,3?
12,31 ,irk


72,512,099
19:i
177,
37.5i


3.630.975.159
98.97'.9O04


4,495,000
90,713,179
515,01,4711
22,502,21i

68902,965
2~:,717,06
6P7:765 237
11 05.221


$181,745,390
24o,8o4,684
581,204,261
175.617.647


1,016,188,390
1,201,562,071
195,' 72
1.2 38,8514
58,878,713
123,581,109


16: 155,689
2993 X9t


1 7 77- 2 I *I


q4. 970.075


63:209130
186,586,10
5889 43,614
110.752.715


$211,837,581
103,166,957
l1:4W4:6


908,263,439
81945,921
131,292,909



68,:31t9;

308 :


3.264.726.539


',5,000

:12019:6
2589,8
5877 5
717,4 6
2:219,615
1,527,931
2.00 87


i # I a I i p 1I


.l n 7 9q7.9


$163,497,079
225,079,661
569,554,035
113ir,35499


945,322,195
1,060,356,029
171,220,26
336., 4
51, 550,33J
A9,1 2,317
605,360331
19,579,0
1j 55,,688
2.091.327
3,419.537.612
aT.noR-XPi


,185,
95,102, 5
158 ,922


17:1 615
11:,6 9,4
o106 97


, 7 7 i t
i ,


530,570,288 446559,737
137,194,9 141,6837,87
330,387,882 393,357, '4


L *


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended October $118,25,696 1, .9.51
6 months ended October 1 3,0,03
12 months ended October 5, 1 ,0 2 3
The net income shown for October 1946, is after a deduction of $794,133, taken out of
operating revenues to create reserves for land grant deductions in dispute.
,/ For railways in receivership and trusteeship, the ratio was as follows October
1974, 0.88; October 1946, 1.68; 10 months of 1947, 1.01; 10 months of 1946, 0.91.


0,099,20355
296:2149:155


415,017,75
129,195,1
355,569,961


UNIVERSITY OF FLORIDA

Subject to revision 3 1 08IIIIIII8II5IIII1 1
Subject to revision 3 1262 08851 1653


Statement No. M-125

OCTOBER 1947


(45.622,652
1 5,305,612
560,928,264
23,771,223
537,154,041
9X 526,.616
1:081:654
199,086;3
6l,60
167,147b512
265,424,038
501,501203

122, 921,938
36,8:16,900
1.59


ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/


Period


October 1947
October 1946
10 months 1947
10 months 1946


Railways Reporting a
Net Income
Number of Amount
reports


92 (54,195,706
92 60,832,935
90 407,125,837
73 259,1148,0


Railways Reporting a
Net Deficit
Number of Amount
reports Amount


reports I


31 (5,292,115
31 2,625,792
S96,219759


MILLIONS NET INCOME-ALL CLASS I RAILWAYS
Of DOLLARS OF DOLLARS

o |80







__0






*o
40-0 T- 0------- -------
JFo -- --- JJ - -- --J-J---0 o

-to -- -- -- *- -- -- -- -- -- --




J .FMAMJ J.As ONO FMAMJ JASoN J FMAM J JASoNO


I/ noludes 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.
S Includes obligations which mature not more than one year after date of issue.
i Excludes reports for 4 roads for the month of October 1947 and 1946, 4 roads
for the n months of 1947, and 5 roads for the ten months of 1946, where net income (or
deficit) was absorbed by the controlling company.
# Figures include returns of the St. Louis San Francisco, which emerged from
trusteeship on January 1, 1947;,Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947, and the New York, New Haven, and Hartford, which emerged from trusteeship
on September 18, 1947.
d Deorease, deficit, or other reverse item.


291an'48


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


i '-~---


" I' -


-11


-I-


I i


-I-


ZWAZd' ZLj ;-, .0,.) f1 0 v


1 941 836 953


1842837"/06


1 687 245 387


1945


1946


1947








INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE TEN MONTHS ENDED OCTOBER 1947 AND 1946


NET RAILLWA OPERATING NE INCO~ P 3BDEL INCOME DIVIDED NET RAILWAY OPERATING NH I0No.M mEDEALU INCOME DIVIDEND
INCOME TAXS APPROPRIATIONS ISOME TAXES APPIOPRIATIONS
Region and railway Region amm railway
1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1947 1946

United States Total .................. $634,032.242 $451,952.300 $360.292.486 $162,931.287 $249,249,029 $52.216,948 $150.593.225 $159.768,838 Southern Reion Continued
astern Ditrict Total ................ 174,702.013 90.958.385 46,4.41 22971 .2 47.257.792 a 16.05.972 22.009,493 33,477.176 hfild .......................... $5,602.585 $3.,61.678 -$541.851 $550,991
Coluabas end Greenville .............. 96. 23.571 $d .29 $47,03; 1,153 31.276 $9,850
New .land Region Total .............. 9.638,117 2,897.334 e 2.752.994 d 9.082.609 1.507,658 1.995.099 217.900 216.923 lnorida Eat Coaet*. ................. 19o.. 2.107,751 d1 3.,90.7 5 198,583
Georgia R.S. Lessee Organisation ... 529, 42 41.515 -
Bangor and Aroostook ................... 1.1855.150 450.233 770,973 22.723 466,977 5 143.550 143,550 aoria orida* ...................2 d 886 o -
Boston and Maine ........................ 4.723.580 2,s3.040 1.422,489 453 1.34.74 125 Georgia Southern an horida .........7 171.83 5 84,000 415
Canadian National Lines in le England .. 946.967 1 116 112 Gulf, Mobile an Ohio ............... 5.799.971 a 3.257,676 .2 1.515.269 378.021 $708,596
Canadian Pacific Lines in Maine ....... 5. d 15.-... -- Illinois Central .................... 20,488,441 3.122,209 12,704,738 ~,882 8.188,000 4,118,131 -
anadian Pacific Lines in Vermont ....... 1098 3 d 1 Lousille and Nashville ............. 12.593166 12,988200 10029,742 9.678.45 6.496.754 5.213,233 8,236,800 8,236,800
central Vermt ......... ......... ... 938 5T 11 121 d 63,35 84,28 .Missi.sippi central .................. 134.357 22,776 46.96 6249 31396 -
Maine central ........................... 1660337 1T 16 7 ,3 326.31. 499.4 96,289 74,350 73,373 Nashville., hattanooa & t, Louis ... 1,405.58 54,906 73.0 259,72 11 255,982
New York onnecting .................... 130.337 851.930 4 20.157 A~ e Orleans ad Northeastern ......... 1,557.011 573.750 1.347.319 3972 1.055.000 250.
NIev ork. New ann and Hartford ........ 4,221.709 625475 d 5. 7 d 826.860 Norfolk Southern ..................... 323,461 13,512 1.137 3 52 -
utlan ............................... 51.8 4 209.218 80 Seaboard Air Line .................... 7.243,340 7,903590 5.28.126 8 1,605000 8474 375.000
southern ............................. 16940,042 14.645.37 8,785,765 6,265.000 3,868,582 750.000 750,000
Great Lakes Region Total ............. 73.304.204 45,087,685 24,906.357 d 5, .461 19.014283 d 16 5,36 9,123.614 7,710,o08 Tnnessee entral............................6 .106 d ,10 77d'3, 4 11.1d2 _3 120.00 17,500
Ann Arbor............................... ...10,o30 12 0,059 33 8.T95 6042050 5 a 6 22-B o a .026 91.,2 0
Sbria'and Indiana ..................... 108108 20,05 202 970 57 2620 180.000 110.o00oo tern Dietriot Total ............. 303,393,931 244,365,563 203.277.607 135.168,054 130,721.362 2.144.505 74.887,612 77.860,565
Delaware and Huason ..................... 5007,402 296 3.584.678 1771,508 2,45.000 -
Delaware, Lackawanna and Western ..........6710,435 3,416,819 2.493,385 6959,936 d
Detroit and Maina ...............: ..:321 72,308 2717 22 orthwestern gion- Total.......... 75.734,020 58442,346 44.876,806 27.193.457 20,410,844s a 3.19.1 22.132.91129.07.685
Detroit and Toledo Shore Line.......... 68349 376.262 610,8 302,37 741 199,20 200,ooo00 20,000
r ......... .......... ............. .984.3 3.569,922 2.607493 2 1 .842 2612 462 3.2 907 3. .828 ohicago and North Western ........... 6,688555 7,887,870 3.072.739 3,961.977 1.245,000 -8 .-1,143,159
Orandtrunk Westerno ................ ..... .833.205 2.2626 997.37 5.55 S 10,000 Ohioueo reat Voetern ................ 1,757.505 206.95 355.746 1.014.939 2ts3.3? 228.819
Lehig and udaon aRiver ................. 5 205.387 136.294 123 1,210 141,210 Chicago. Mlwaukee, St. Paul Pacifio 13.106,305 9.627,947 4,664.9 79 3.73 2.52,7.000 2sl 2.804.350 5.608,700
Lehigh and New England .................. ,259,1 989.636 1.156.258 883.983 708.552 40244 952.000 748,000 Ohicago, St. Paul, Minn. & Omaha ..... 988.859 d 187.737 92s. 923- 4 21.,03. 0
Lehigh Valler ........................... 4,216,724 4.162,337 99.7 1100. 17.500 d 122000 Duluth, Mieeabe and Iron range ....... 9,673,992 816.188 9332.88 7.961.991 5.514347 3.870.329 8,225,000 10,281.250
Monoagahela ............................. 1447184 799.265 107591 51 555.020 uluth, South Shore and Atlantic ... 423,897 4 22.036 d 043 7766
Montour ................................. 624,742 408.705 614,608 404.40 371.759 251.424 457.470 510.000 Duluth, Winnipeg sd Pacific ......... "" 182.586 d 272.987, d ~ 6. -
rew York central d .................... 17058,098 14.927.136 2.6. 4 6848.312 802776 1016198 Great Northern ....................... 20.081,257 18,084,177 16.588,446 09 6,368.998 9 44. 298 9.277.647 9,27.637
ev Tork. Chcago and St. Louis ......... 8061.871 70310 632.702 4,6053,4 3.483.3 903 162241 360564 Green Bay a etern ................ 92.992 9.8174 92.590 108,830 125.250 8.906 125.000 125.000
ey Tork. ontario and Wetern*" ......... 92144 13594.57 223751 2,4J75l66 -- Lake Superior Ishpening ............ 925,664 278,654 932,715 288.712 524,400 89.958 16.650 214,200
New York, Susquehana and ?te** .25,37 d775 284 Minn.epolie & St. Louis .............. 1.519.851 66 1,557,4664 2 63 951901 61 750,000 300,000
Pittsburh and Lake rie ................ 6010802 2.662819 8927 2428.980 2.989977 657288 1.727.300 1,727,30 Minneapoli St. Paul & .S. arie ... 1,662,101 92389 600000 719104 1.797760
Pittsburg and Shawnt .................... 535.814 170,167 436,758 a 50.91 Northern Paci io ..................... 14.3o09,90 10, s,70, 5,03,203 2,225,000 -
Pittsburgh & West Virginia .............. 978,414 400110 9617 86,417 2.500 -- Spokane Iternational ................ 153, 146.27 51,124 50.176 27.330 71.160 71,160
Wabash .................................. 8.141.176 5236,506 5,97s981 3,597 3.3312,61 99 598,186 598,166 Spokane, Portland and Soattle....... .1,197,250 1.o57.59 -1 -
visoonsin Cetral .. ........... 2.969,735 2,266,366 ,1 0 ~ 8 8 55,000 a sl, --
Central Eatern Region Total .......... 91,759,692 42,973.366 24.276,108 19. 67.220 26.735,851 1.534,496 12,667,979 25,550,165366.419 7.509.6366.0244.89566
Oentral VWestrn Region Total .......196,116,041 125,936,979 119.507.929 66,160,419 87,509.638 28,636,024 48.898,566 41.231,987
Akron, canton a Youngstown .............. .. 676.495 317,675 495.615 123,494 296,021 56,980 o109,4so 78385
Baltimore and Ohio ...................... 24,276,315 4,197.693 6.167,225 d 148 1 1199.208 74:471 thison, Topeka ad Sata Fe g/ ..... 3.39,44 38,338.534 37,863.515 33,214,436 26,957,492 24,017,642 14,026.090 14,026,090
Bessemer and Lake ]rie ................. 6,739,805 3.703,661 5.896.911 2.808 793 3.724601 1,634.218 Chicago, Burlington a Qin ....,.... 26.452,249 23.331.205 23.192.923 20,287,480 14.904,031 11.693.782 5.51 125,161
Central BR.. of w Jerrsey* ............ d 63625.503 200388 d .28.657 d 4.019627 253 8,770 Ohioago, Book Ilad ad Pacifio** ... 17,602.045 13,689.420 6,0s9,377 3.32.116 4,695000 2,208188 -
Central aR. of Pennelvania ........ 10 1.875267 .99209 6 7,691 2,40 Colord ad southern ............ 396.830 228.477 186.49 301.92 61,559 -
Ohicago astern Illinois .............. 316,346 d 1299.350 d 55.805 d 1 383,863 Colorado a& Wyoing ................... 332,774 211, 1 97,489 198,7004 6.100
cto a Illinois Midland .............. 257812 36759 60,700 227.857 Denver and io Grande tern ........ 6,629.491 4,001.68 3070,4 863 5 299 1,626,565
Chicago, Indianapolis and Louisville .... 24,230 429.o7 451324 11 4606 ort Worth nd De ver Citp ........... 1,745.906 71021 834,700 d 1 674794 12,033-
Detroit Toledo ad Ironton ............ 2,486.917 147267 2.221 6 1.11775 1.197,990 259,87 49,664 122,666 orthwstern Paoinic .................... 41.735 d4 23 4, 45 -
lmin, Joliet and Eastern................. 4.587301 893.974 4.251,407 769,074 2,711.249 556,994 Southern Pacific ....................6. 5.t.l 20.8 8.399.510 9 15,063,140 21.42 5 11.318,89 11.318,289
Illinoi Terinal ....................... 1,495,049 757.232 1,028,379 302,673 720.900 313,500 270,000 Southern Pacific Tranp. Syste / ... 38.398,51 32,657 .044 29, 58 193 19 451 21,421,514 11,318.28911,318,289
Long Island ............................. d 1,015,211 1,079,890 d 2.i085 Toledo, Peoria A western ............. d3,.45 2.3is L3., 1..- -
Missouri-llinoi ........................ 62.9 0 34 0 Union PaciiO ... ..................... W 22.99,590 1.119.366 13.984,819 13.984.819
Pennsylvania ............................ 27,396,411 19.672,12 d 7.2. dq.0.6 5.038,334 6,583,877 19.751,631 Utah .................................. 17.341 71.870 46.8 8.96 10.000
Pennlvania-R.eadtn Seashore Line .. 15 118 1 1.089.024 W 2 .77. 1 88 1 306,333 899 Western Pcifi....................... 3.49803 3.872.885 2.575 16598 566.000 1.945072 2.817,642 2,777.628
.....2.37ni a7.1C Seashor e Lines 'A I d .377 d.1 800b.t333o ...9.................. 3.s 5 32 27.16 2.77.62
Reading ................................. 10062.02 5, 868829 6941.525 2.70112 4.537,055 2.203.099 3.47.941 3427.603
Staten Island Rapid Transit............. d 507.1 1 00 845P 5, S outhw tern eion- ot .......... .71 3.S70 59.986.238 38,892.872 21.814,178 22.,00,880 2,703.300 3.856.135 1.580.893
Western Maryland ....................... 6,485.284 4188093 4.331,241 1,821848 2,588.910 1.758.000
Wheeling and Lake rie .................. 5.413,455 2.906.320 5.299,694 2.879.084 3,390,000 1,829.000 1,786,017 1,786,017 Beau.n nt, Sour Lake a Wet.rnBa ...... 1,660.420 1.329,306 1571.361 1,223,002 260.218 785,228
Bnurliaton-Rck eland4 ................ 136.551 36.043 84. -8. -
outhern District- Total ............... 155936.298 116.628.352 110.585,08 62,016,523 71,269.75 40,8478,415 53,696,120 48,3097 nrnaoa-t l.ortheM .......... .. 6.0 4.3. 2165000 1.455.00 63000 63.
Pocahontas Region Total............... 75.383.729 56.228.349 67 .92 50.680275 40,340,191 28.836.354 37,892,419 33.310,070 an ea, O hom a 77 .a ulf.............. 0761 ..177 .8 53 a 3 2 5 0,31
Louisiana Arkansae. ................. 1,91,831 1.736,47 1,653.022 9 1.375,200 677.000 225.000 150,000
Cheapeak and Ohio ..................... 37,159.734 30,209,842 31123,919 24,749,398 18.393.597 12.570,428 22,321,395 17,649.046 Midland Vaey. .................... 0366 1R789 8,6,49 4 69,6 -
Norfolk and Western ..................... 28,537,028 19,564.470 28315,375 20.563.21 16.650000 12.775,000 11.205,329 11.208,329 MissourT and Ark ansa ..... ........ 1 440 0
licm..nd.,ra.ra. P 2.002,070 2,436,067 2.114,.13 2.648.91 1 .40.94 67 .09132 ^430,32 MisLouri-Klnls- .................... 410 1:35:V 1.440.000 1,.09 6,
irginian ...... ..................... 7.68.4897 4.017.970 6.327,185 271718.748 3885.630 1.623.835 4,.022,663 .0,66 i orln, P fioco .... ...... ...... 17.1542.53 35.571.771 2, 051489 -
low Orleans, Texa 4 Mexlo" ....... 9I3,23 3.2r,.7 a ,87, 5.
Southern Reion o ................. 80.552.569 60.400.003 42.704.516 11,336.248 30.929.684 12.042.o61 15,803.701 15,121,027 Ok hota City- tok ..............: : 7 1.2760 1.6 66914 3 24 6.232 -
____St. Louis, Brownsville ard Mexico. 1,904.86 1,274,37 1.365,712 669,46 322,24 631,232- -
Alabama Great Southern .................. 1,384,481 416.892 1,536446 633.446 884,000 1 7.156 784.725 .72 t Louis -San rancisco ........ ..... 2.3716 4,019574 3,105,285 527, -
Atlanta ASaint Andrews Eq.......... .245,164 165. 23744 129,294 172,355 St. Louis, San Francisco and Tessa ... 232.53192.4211 127,0 42
Alatand.............4 141.797 9272 98,544 St. Louis Southwestern ................163.6 5657.265 5.985.67 5 6.153 1.7709
re", w.t ,of .e ..........3.782 A3.259 2.76 d 20,9:241 4272 San.544 ntonio ... ........ 5 65 3,446,055 4.684. 1.747.
Atlantio Cout Line ..................... 1.198272 1.016 4.11845 1.984.093 700,0 o 3.301.583 3.297901 S to Uv lde Gulf .........352d-
Central of Georgia'5....................d 4 0 g.417d 4.376.473 d 3,05.176 138.5 Texas ad Ne Orleane ............... 12.098.55 41 6358374 .735.350 592.575
7a5ln o6. o rs .....n.a. .. 5-.3 8780 21.96 000 023 1.3 .7 .9 1.:72.000 Ta and Paifio ..................... 51.97 29 62399,0 4.22626 4616.65 1,08000 735,350 592,575
Charleston A western Carolina ...........i d 1......... 51.9T2 229.069 401,732 135.268 250,000 80,000 -
CininnatiNewOrleans.adTexasa, 5,052,939 3,31 3 ,5521042 2,965.3 1.447,725 1,447.725 Texas Mexican ....................... 1.3


* Report of receiver or receivers.
Report of trustee or trustees.
d/ Deficit or other reverse item.
Includes Bolton Albany, lessor to New York Central R.R.
Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.


fIncludes Atohison, Topeka 6 Santa e By., Oulf, Colorado & Santa Ie By., and Panhandle & Santa Te y.
/ Data not included in totals. Includes Southern Pacific Company, Texas and lew Orleans R.R. Co., and leased lines.
U. S. GOVERNMENT PRINTING OFFICE: 1948-0-750193








Subject to revision


UNIVERSITY OF FiORIDA


3 1262 08851 1661


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
NOVEMBER 1M7


28Feb'48


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

Compiled from 127 reports (Form IBS) representing 131 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net railway operating income..
Other income
Total income
Miscellaneous deductions from income
Income available for fixed charges ..
Fixed charges:
6-01. Rent for leased roads and equipment
6-02. Interest deductions/ ..
6-03. Other deductions...
6-04. Total fixed charges...
Income after fixed charges.. .
Contingent charges
Net income 2/- ..
Depreciation (Way and structures and Equipment) ...
Amortization of defense projects_--__-----------__
Federal income taxes......-- ...
Dividend appropriations:
13-01. On common stock.
13-02. On preferred stobk....
Ratio of income to fixed charges/ (Item 56-04)


All Class I Railways


Class I Railways Not in
Receivership or Trusteeship#


For the month of November For the eleven months of For the month of November For the eleven months of


65,577,488
19,616,070
8 ;193,55 0
3,339,542
81,854: 16
9,454,661
25,101,736
165,198
7,132 ,121
3,774,370
43,358,051


24,558,625

41,320,936
8,620,008
2.36


$64,122,214
18,293,375
82,415,589
2,948,450
79,467,139
10,315,68
27;?17;706
121,739
42, 321
3,021,352
38,820:974
28,655,249
1,235,291
1,711,353

30,981,567
9,274,950
2.11


$700,834,367
182,205,786
883,040,153
39,046,550
843,993,603
114,500,139
281,849,284
1,675,959
398:025,192
41 2968,21
3,78455
)7,183,671
323,101,690
14 779, 06
273,452,193

154,80,318
45,653,851
2.12


S16,074,511
71, 484,il9
687,558,630
27,316,923
660,241,707
108,998,098
313,514,555
1,345 576

43 31:219
201,752,259
313,029,001
9 304108
53,928,301

153,903,505
46,121,850
1.56


62,174,355
18, 604, 055
80,778,41o
3,300,012
77: 478,398
9,145,720
20,757,265
153 490

3,774;370
43,647,553
27,99o,324
1;709
24,35573

41,320,936
8,620,008
2.58


$59,461,329
17;466:238
76,927,567
2,825,337
74,10 2,230
10,003,542
22,926,43
105,843
3 035,843
o06638
3,021,352
38,045,035
26,779,056
1,124,997
1,877,507

30,981,567
9,274,950
2.24


658,457,005
172,582,275
831,039,280
38,288,157
792,751,123
111,002,775
234,351,742
1,552,374
346:906,891
445,844,232
38,784,550
4o7 059,682

302, 331,54
13,597,602
265, 93,076

154,880,31
45:653:851
2.29


(475,o83,978
162,771,852
637,855,830
26,599,558
611,256,272
104,530,158
265,385,849
1,187,500
3 1,103,507
34,631,;2
205,521,546
292,203,093
8 3637
52,385,710

153,903,505
46,121,.50
1.65


All Class I Railways Class I Railways Not in
Receivership or Trusteeship#
Selected Asset and Liability Items AANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/
Selected Asset and Liaility Items Balance at end of November Balance at end of November
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road 2.... .................. $256,293,923 $206,512,050 $235,920,535 $185,738,499 Number of Number of
18. Expenditures (gross) for additions and betterments- Amount Amount
Equipment ....................... 492,401,382 268,365,604 463,990,178 252,046,547 reports reports
19. Investments in stocks, bonds, etc., other than those ovebr 9 7 6 4,66,
of affiliated companies (Total, Account 707) 581,479,582 579,029,157 568,707,068 567,374257 oveber 1947 97 7,994,35 26 4,636,294
11 months 1947 1 453,2 ,7196 46,871,745
20. Other unadjusted debits-.................. ........... .............. 206,616,z77 172,256,580 138,660,682 113.894,67 11 months1947 1 453 ,7o2 6 46,070,085
21. Cash........ ................... .... .............. 1,020,308,068 1, 01,463,79 95189,399 980 385328 11 months 194296,32,49 94,570,352
22. Temporary cash investments ............ ..... ............ 1,00,360,951 ,1,2 85021,4 1,04 615,397
SSpecialdeposits 1328 170,1 88 1251,2 1 162,7,993
24Loans and bills receivable....... ...... .... 12166,763 59 6 13,183,887 5,s87 NET INCOME-ALL CLASS I RAILWAYS
2. Traffic and car-service balances-Dr. 5121101 56,294 47 858 74 49,6 222 M oS M ON
26. Net balance receivable from agents and conductors 148,124881 122,11209 46,2 114 37291OF LLR
27. Miscellaneous accounts receivable ... 295 6,581 301,184,105 255,662 6 7 256,756662
28. Materials and supplies........... 753,003,892 651,003, 05 700,530,882 605,329,354
29. Interest and dividends receivable .. 28,94 284 0 27,577,990 27 ,385
0. Accrued accounts receivable 165,399, 153,172,863 150,3681 1 ,732
31. Other current assets... 7, 342164 31,792,70 30,860.463 25,494,174 60 -- so
32. Total current assets (items 21 to 31) ...... 3,651,705,202 3,757,585,361 3,292,841,185 3,412,185,625 A
40. Funded debt maturing within 6 months4_. ... 121,840,483 91,549,461 118,988,602 88,655,334
41. Loans and bills payable --........----- ---- .4,75,000 9,24,600 4,75,000 9,245,6o0 0 -20- --
42. Traffic and car-service balances-Cr .. .109,378,961 106,816,508 100,432,976 98,956,152
43. Audited accounts and wages payable .610,66,49 531,603,686 70,59,139 495,31219
44. Miscellaneous accounts payable ....... .... 213,686,55 167,088,761 184 3,534 138,649 76 0
45. Interest matured unpaid 42,545,742 47,285,926 31,07,299 43,817,72
46. Dividends matured unpaid 12,08,861 9297,300 11,818253 9028,92
47. Unmatured interest accrued .75,888,780 68,988,888 74,9153164 68 881,0 69 -
4. Unmatured dividends declared.. 60,639,924 49,22,918 60,639,924 49,622,91
49 Accrued aobounts pyable ....... 179,548,25 191,88,695 165,808,667 177,753,397
50. Taxes acorued -- 621,8104 56, 5,10 592,008,011 500,715,883 -40 - -- -- - -- -40
51. Other current liabilities... 101,2 25 108,692977 96,455,197 103,572,743
52. Total current liabilities (items 41 to 51) 2,032,579,408 1,827,186,360, 1,893,751,164 1,695,575,231 -so -60
535 Analysis of taxes accrued:
53-01. U. S. Government taxes .. ... 498,046,245 410,185,772 478,85,1 381,789,991 -o l -
53.02. Other than U. S. Government taxes ..- 123,772,789 126,479,329, 113,14,530 118,925,892 1945A S 0 F M AS 0 J F M J1 0
54. Other unadjusted credits...................- ............. 337,972,007 392,0o6,907 300,009,713 357,178,277


!/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended November 112,195,110 136,529,907 d 24334.797
6 months ended November 240, 61712 238,299,979 lU;(
12 months ended November 493,965,879 123,22,183 370,723,696
The net income shown for November 1946, is after a deduction of $1,472,288 taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: November
1947, 0.94; November 1946, 1.17; 11 months of 1947, 1.00; 11 months of 1946, 0.93.


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.
S Includes obligations which mature not more than one year after date of issue.
S Excludes reports for 4 roads for the month of November 1947 and 1946, 5 roads
for the even months of 1947 and 4 roads for the eleven months of 1946, where net income
(or deficit) was absorbed by the controlling company.
l # Figures include returns of the St. Louis San Francisco, which emerged from
trusteeship on January 1947; Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947 and the hew York, New Haven, and Hartford, which emerged from trusteeship
on September id, 1947.
d Decrease, deficit, or other reverse item.


Income Items


UNIV. OF FL LII.



Ul S DEP TOY


UA.S, D5POMTO


1 ~-


I


I I I


-I


-I


i


-I


-I


I I -


_ __


r-


jIU~I_ ~_~


j







INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE ELEVEN MONTHS ENDED NOVEMBER 1947 AND 1946


Page 2


NST RAILWAY OPERATING NET INCOME ZDMARl INCOME DIVIDED ET RAILWAY OPEmRTING NT INCOME FEDERAL INCOME DIVIDEND
INCOME TAXES APPROPRIATIONS INCOME TA AIPPROPRIATIONS
Region and railewy Region and railway
1947 1946 1947 1946 1947 1946 19147 1946 197 196 197 1946 1947 1946 1947 1946

United States Total .................. $700.834.367 $516.o74.511 407.183.671 $201,752.259 $273.452.193 $53.928.301 $200,534.169 $200.025.355 Southern Region Continued
astern Distriot Total ............... 195.010.776 107.989.647 58.124.060 d 28,510.619 52,088.669 d 17.818.846 33.924.948 38,868,74 Clinhfield ........................ $6.142.374 $4,117262, 596,0 $599959 -
COolunbus and Greenville ............ 860 1043 ad $36.358 1.153 31.276 $9,50
e ngland eion- otal............. 10516276 4,356.651 d 2.885.914 d 8.714.817 1.905.039 d 2.113,791 217,900 264.773 Florida exst Coast*e .......... 2.8,14 d 1,02936 198,583
Georgia R.R. Lessee Organization ... 601,4O8 1,739 -
anr and Arooatook ................... 1.393.638 527.5o 936.188 56,711 68.1437 15. 143,550 191.400 Georgia lloriaa ....................d 16 261 i 77 046 5 .00 15
Boson and an ....................... 5.289.00 3. .533 139.001 1.186.328 192.8 Oorgia Southern and Florida ......... 25.1 5 208.1 7 d. 51 9 6 041
Canadian national Linein n New England d 1052 428720 1955,3 d 2951 1,32 3256 -- Gulf, Mobile and Ohio ..ea .............. ,77,662 712,798 1. 6 5 1,0. 506.075
Canadian Pacific Lines in Maine ........ 113.120 d 0, -- Illinois Central ..................a.... ,799,445 1 375.3.2143,8,387 5,75303 8,561,000 5,274,131 -
Canadian Pacificn Lines in Vernont ...... 1. .12 Louisville and Nashville ............. 1,.081.317 14.407.717 11.261.507 10,794.186 7.334,1892 5.893,838 8.236.800 8.236.800
Central Vmont ...........................9..... o W..V d .2 ..71 a 1 .---- 69.9-- 9.0 -- Misesissippi Centrl .................. 115.345 56.893, 1;9.594 4fl 7.5 32.,56
t ..Bntr Vsreont ...... ............. 81935.926 51659184 992 21.278093 18 0 150 d
Maine Central.................... .........861576 1,305.932 83.22312,01 578.881 714,350 73.373 Nashville. Chattanooga & St. Louis ... 1,606,6647219 315.992 d 1,6612255,982
New York Conn cting. ..................... 8 272 955.03? 21.2 5 8 275, 1 : d ,- Noe Orloans an Ndortheastern .......... 1,773.662 712.7981 .5142 15 143.132.1335.2705 -
e ork. aew HNavn and Hartfor ....... 4.396.283 1.1 2 3 1 .7 2 orfolk Southern ..................... 630.993 19.272 276.696 d d
Rutland T ............... ............... 54.928 8 293 d2 4. C and Air Line .................... 7852.873 8.5559 35 ,698727 5,587131 1.625.000 8, 6170 75.002 8







i h and N 2gsland ............... 1.418246 ll4g:522 1.304.690 1.031,673 799.527 630,764 952.000 748.000 Chi y .. Southern ............................. 19,39.277 10,84 6 8 9.47.974 8.6.6 5.567.405 0 4,933 8,2250.0001 10.000
Great Lakes egion Totoal .............. 81,935,926 51.659.184 29,092,180 4 14.v96.940 21.278.093 d 18.010.935 15,523,135 10.628,149 Tennessee Centrol ..................... 1 d 22092.6 d 0 d 42 413,74 11732.861 d1.2 60- 17,500
Western R. of Alab1aa............... 220.1146 253,22 1381147 d 120,00 150.000
Anon Arbt............................ .. 558 103 1216852 3170o.322 76.2395 221-.129 d 3.- 3ut oula 4 571 1124
ambria and Iniana ......................... 443.686 639.11 237.871 23,8 527.815 330000 180.000 stern Ditrit Total............. 33137.247 276.852.913 227.951.980 159,082,80 143132.132 28.270.989 100183393 97.608106
Delavars and Hudson .................... 154:17.146 .775,272 3.918, 31 1.959.070 2,670000 96,000 -
Delaware. LacSkanna and Western ...... 71453.25 73.120 2 147 d 4iL6 7 8 9756.168 d 173.5150








Perits sad keo horie ............... 6,656997 2.998,582 57.73 661 2.06 7 318.960 9.31 5.181.900 3.022.775 Miheeapolis. St. Pl? & o.s. .ari0 ... 2.029.251 1.128a.88 1.234.747 332.657 705.000 t o8.021 719.104 l.797.760
Detroit and Mackinac ................... 368.268 2186,7 4 2728587 170.62 1 957- orth tern acio ....-......... ... 4,0416., 8 12.3,22 953,084,46 6.138,501 2.760,000 ,810 ,419.
Detroit and Toledo Shore ine ........ 765,704281 410,.53 679,748 329,062 426.007 21 220 000 220,000 1617 71.160 71.160
ie ................................. 10,91.9602 9 5.34.9 3611,021 d5 2.123.027 4.4 12.792 54.72.7184 hicgo and North We stern .......... 7.300, 43 9.89,762 3,698.727 5,587.131 1.620000 d 617,000 2,286.31814572.635




Center_ _tern o n -Tot ......... 102.558.574 51.973.812 340.917.71 5.152.2860537 7.38,a 11;3.1 I 818 0 re s .. 0 6.9 3.87. 0 .9 9 .6 8 0 2 .8
ehigh and udon RiJer .................. ..... 217,13 5 d 4 407770 653, 8970 -0 Chicago, Milkaulee, St. Paul & Pacific 149.41.392 8 15,01,68 5.191.37 3. .855, 2, ,558.188 .700












Cent al B.R. ofPre.7ylvaa I..:..:..... 7, 9,221 24629 347 2,269,786 so3,677 8.391 3.200 Col.,70o ag, Southanl ................ 55M.952 20.6 195,m a .6 I 0 114.1789
Chicago & Ill s Midlan : ..... 1,435,009 6^ 92 1.119.133 --317.96 692,00o 197,657 B.evr a1d .1o 5rand2 W..te26 ........ 7.452.9(2 3,4:.507 3.51.509 5 39.9 1.428.299 1.626.565 _
Lehigh and New England ................. 1.,18.246 1.118.. 133690 1.03 1 799.527974 300.598 1,226.0 7168000 rthi oSaint Pact u. .nn. 4 ,& Omaha 1. 955146 385.787 .02 3 d 1 0679 -
mainJonbes a d ......... .................. 5157612b 183.913 4,653,130 1538.91 2b.93.108 745.950ooo 376oo Duuth.ert Mlanbeoouth 8Pc ed .. o .......e ... 97,0.;61.57.8 2799.27Sb l 9,61t 3 63. 693 i '036863.1S6772;00- & 26 0.51 152291005 1,091,05215















Illnois: ; r t ............... 139.2 4 1 s 0 37:1900 050:000 ^sn .* 40: :081 3.6 1 00 239.O8,225.0 1 0.251,250
Lehigh Valleya........................... 4.296.539 14,876,164 d 0917.500 d 000 Duluth, b and Iron Range..........9. 10 146 8,98997.35 3 5,67.4 .60 8.2.
Monongahelan ............................ 1.576,126 63.531 1,170 1 451000 3577000 37100 Duluth. South Shore and Atlantic4 57111.319,366 26 82417,319.184
Montour ................................ 70.10 89 44710 690.088 1.741 9 4,85,24 276,817 385,4770 10.000 Dluth. v pe and Pac ......... 1.671 d 21
ow.otern MOaroyland .......................Wt7,28*.60 4 ,22 ?.4:2922;2625415 l.7 5 1 P 9,2776,24l o 9,27.632,
Wheel ad Oentrake rd ................. 5,914,94 3.289234 5,78542 338,632 3,74000 2,051 2,1039309 1.786,017 on. So.r L Wtra 1,79220 1 461,39 1686,016 1348,162 306,218 78
New York, Chioago and St. Louis.. ........ 9,126,3149 7,866,281 7 ,2'9,866 176! 3,975.063 2 Green Ra and Western......... ..1...,07 1 7 17.000 135.725 125,000 1250
Ne York, Ontario and Western ....... 107.719 d 1.90 2d1206 Lake Superior & Iashpaing ............ 997,.127 377.051 1.0.692 3 524.1400 89,958 160.650 2114,200
NewYrku6uhn997-3aan d ter612 ,2 66 1.M-s7ar5OiD t. osai us t............... 1.72.738 271. 1750.1 26 69.90 750. 300.000
outhern quhanr Totand ...........trn ... 171, 5.344 131.231.951 a 63 71,1s.77 78.231.392 43.476,158 66.425. 63.O8.509 Intnatonal-e. st Sorer3265 ....... 999.213 279.506 1.2 7 332925779771 51 o60
tse i1 5,181,900 3.022.775 Minneapolis. St.aul .........arie. ... 0 6.7. 4,87 5 5 3 3. 460,00030,000 63000
ChPtt..sbu and Ohio .................... 45524.34952 3 86763 7123,020 26518.924 19.5, 12.703362 -5 2 9 northern TPaife1 ...................... 16,6,66 12.0,9 9,728,7462 d 529 7,401 4 11,
oPittburo d ha u nt Virg.................. 1.34.28162 2 60.15 6 3 014 21 1662 426.06 125, 14 .56 56 Spon International ................ 186 807 9 d 1.



















Utcond, Fredertaksburs and Po tome ... 2.011.199 2,596.216 2,375.745 3,040,371 1,46.6 1.991.091 3.32 430,032 Mi.ourt-Kan.**Teis ................ 4 5 .098 2,26.895 1, 6 9 1.562,000 1. 0 -O -
Tabahr .............................. ... 8,0918,75 4272,716 6,802.988 3,271,25 34,702,698 0d1452 598,1 Spokane. Portland and Seattle......... 19685.3250 17,30.981 6 91 1,350,80 1000 -
Wisconsin Central M o............ 320.60 2,732.9192 1 3.9 2.535.8000 81899 2 6 .879
central Eastern Region Total ........ 102.559 789 751.973.812 31914.715,59 1.53933.995.9723.862 28.95,537 2,335,880 1,.183.913 27.975.81811.20
SCentral Westemrn Reion Total ....... 170,171.4413 138 96,058 130.897,200 93 5 ,1429 95.430.634 28.084.257 71,612.2.1 61.084,025
Aron, Canton &t oungetown ............. 757.672 359,553 557.085 115,583 332,955 72,167 1o9,4o8 78,385
Batlatore and Ohio ..................... 26,357,107 5.021.264 7. ,951000 1 614.79 1771,808 95.271 0 Atohion. Topeka and Santa se a ..... 781,583 41,284,0 41,6 2.703 35,462.41 30,177.492 25,183556 20.771.000 20771.000
lantar and Lae Pint ................. 7.560283 4.277.207 6.638,826 68 4,1806625 917,281 -2 hicago, url ngton a n ......... 2.677.869 25.609, 25 6098 22163,329 16.069,331 124282 5.125.161 5.125.161
CAntral R.i. of Nw Jeree.** ...........4. 15 3711 43,21144 d 25961 44 7214 .770 653 ,970 Chic3. 3ao, ook Is03 land aSd AntPacifi' oni, r .... 19. 3386 15.6301,969 919 356919,5, 000 2.558,18 -
entral .R of Psennsla nia ........... .. d 8 1 1,2914758 d 2 ,78 d 3,70 15 0 3 ,20 olora nd nw Ohern ................ 653 12816,74 19,605 18 10,14699111 d 54467 -
Chicagon a Estern IllCoin a ............919 d 1.44988 -777 d 1.75009 37 olorado Pacific ................... 612 ,23155 49,94 490405 1, 9.100 2
Oicagona Illinois Midland T............ 1.135.09 1759, 1119,1336 23.9 692,000 169793 6577 Dver and io Grand..... tern ........... 57,12 2 281.88 3 452..670 149.163 ,428299 -75 1.626.56
Chicago, Indianapolis and Louisville ... 270,883 d 1;0218 d 4.606 59 Port Worth andeDenver City... ............. 1,877.079 770 1 7 872,988 -712.151 212,
Detroit, Toledo and Ironton ............ .715.621 339 22319 1 517 1,277,974 30098 1,226,660 122666 Northwestern Pacific................. 41 a39 f 235,1440 ,; -
Elgin, oliet and Eastern .............. 5,015.692 1.183.913 14,653.13O 1.053,119 2.983,178 7145,979 2.865,000 764.000 Southern Pacific ..................... 27,657, 428 23.9227 8,309.461 15.182,72 26 6 o8 15,091,052 15.091.052
Illinois Terminal......................... 1.652.919 910.812 1.139.902 1409.915 8014.600 371,900 270,000 Southern Pacifio ransp. System / ... O 40,821OS,081 37.609.021 30.779.536 2022.093,952 31.893.985 15.091.052 15.091.052
Long Island ........................:....d 1 2.1214 1.13.28 .20.207 a 65619 .- Toledo, Peoria 6 Western .............. )19W2 8 A21 .11. 636.61 -
Missouri-llinoi ...................... 73087 567383 .19 1 082 459.0 377.000 Union Pacific........................ I 3 2147b355 25.29959 11319 .6 26210.8 17,319.1
Pennaylvania ............................ 32.158,919 25,199.177 d 1 6.0377.3 4,.618.,522 d. 31.9 6,583.877 19.751.631 Utah................................. .15,85 39.555A402 d-10.000
PonnsylvaniaReadiog Seashore Linas .... d 1.2.616d 1a31 276a 2 [266. 285,291 3 IN-- Western Pacific ...............4,100,565 4516,337 3.15 .3 947.000 2,345.072 2,817,6422 2,777,628
Reading............................... 1 837. 41l 3,1418,193 4,850,024 2,831,017 3.8147,647 3,847,309
Staten Island Rapid Transit........... 570,015 d 3 071 d 1095 62 d 821 8 SouthwesternReion-Total...........80165,705 67,319.593 143,970,131 25.358.822 25.0812,026 2,969,172 14,121.9201 4,0146,920
Western Maryland ................. ..... 17, s,01 592 22,.99,9105 1, 2 81 2,889.91 1.873.000 1,2141,940 1.241,941 7.-.
eeling and Lake rie ............5..... ,914,904 3,289,234 5786512 3.298632 3.7146.000 2,051.000 2,039,309 1.786,017 1 eamont, Sour Lake WVeetern ...... 1792.220 1,1461,839 1,686o,016 1,348.162 306,218 785.228-
Rurlington-Roak Island ................. 157.083 32.021 2 d 275.232
Southrn District Total .............. 171,1145.344 131,231,951 121.107.631 71.180,077 78,231.392 43,1476,158 66,1425,828 63,48.509 International-Oret Northern** ....... 999.943 279.506 1.f2J A lq--
EKansas City Southern ................. 6,788,1485 4,.7,295 5 9.83 3.199 2.515.000 1,630,000 630.000 63o.000
Pocahontas Regon Total .............. 82.528.555 60,158,063 74.392,172 54,161,972 144,235.420 30.409,og.463 14.218.7814 148.179,758 Kaneas, Oklahoma & Gulf .............. 898,112 622,246 779.515 1 493,953 473.300 258,037 531.570 531.570
Louisiana & Arkansas ................. 2.208,1493 1,965,323 1,S00 147 1,1426,64o 1,520.2o00 759.000 225.000 150,000
Chesapeake and Ohio .................. ... 0,481o,342 32,578,444 33,712,020 26,518,9241 19,895,1496 12,703.362 28,31,765 27,220,739 Midland Valleyr ....................... 230,270 130,831 58,723 73.401 1,9114 -
Norfolk and Western .................... 31.734,262 20.710.687 31.501.1477 21.768.1492 18.425.000 114,025.000 14:.72 536 1147214.536 Missouri and Arkansas*............. d 1&796 d 1076 1,-62,000 -
RichmoDnd, rederiocksbrg and Potomac ... 2,011.199 2.596216 2,375.745 3,040.371 1.463.964 1.991,091 340032 143002 M isso l-Ksas-Texas ................ 32b.8951.562.000
Virginian ...................... 298.752 1272.716 6,802,90 2,4.185 14,1450,960 1.,690010 14.804,s451 148s41451 Missouri Pacific ................... 19.416502 17,683,981 6,579969 3,808.891 1.350000
Now Orleans, Texas & MaXszio." ....... 2.280.773 3,.1472,263 13. 649 2.881,899 2 316 d g.51
Southern Region Total ................88,916,789 71.073.888 146.715,4159 1701.105 33.995.972 13.066,695 18,207,041 16.368.51 Oklahoma O ity-Adsa ................... 45 0 142721 4,397 1.863 17,178 31.260
St. Louis, rowneville and Mexicoe ., 2.21531.41 3 1.388.935 1.613.312 727.115 319.82 631.232
Alabama Great Southern ................. 1,597.796 512.h19 1.722.878 705.071 1.0i.4000 207.156 1,1457.346 1,121.035 St. Louis-Sn rancisco ........... ... 9034954 4. 666,857 1.4193.440 664 2.977.665-
Atlanta Saint Andrews ay............ 279,12 201.543 267,951 161,141414 191 40.o 50,000 St. Louis, San rancisco and Texs... 261,23 .531 216735- 133,00133. ."6
tlant et Point................. 4 13.006 34.64 158,568 1866 064 49.272 98,544 St. Louis Southwestern............. 9.537,578 6,1487,157 7.122,412 +,W.435 14.992.744 2.9?7,0'
Atlantio Coast Line .................... 1.573.711 3,026,858 4.427.7214 3,771,809 500.000 d 2.900.00 3,301,583 3.302.093 San Antonio, Uvalde &a Gul'* ......... d 623.012d 9.051 23.16 d -
Central of Georgia$ ................... d 68 1.198,758 4d 4,9 71 d .11320 152.070 d 985.252 Texas eand e Orleans ................ 13, 753 ,lb,72 10,605.899 ,1146.923 6,91,180 6
Charleston & Western Carolina .......... 2.. .12 d a 0.149 7.779 & 1 72,000 Texas and Pacific .................... 6.612,7 6,908201 14698,9714 1,95005 1,393,000 202,00 2,735.350 2,735,350
Oincinnati. ow Orlean and Texas Pao.. 5,645,373 509.055 .990.826 2.093.941 3,410.000 1.629.793 l 2,03,47 .2,3549472e5Me0a......................... 576,180 2 83 1,670 1,163 275,000 7,200


* Report of receiver or receivers.
** Report of trustee or trustees,
d Deficit or other reverse ites.
SIncludes Boston A Albap, lessor to ewv York Central R.R.
formerly included in report of Minneapolis, St. Paul & Sult Ste. Mariae.


SIncludes Atchison, lopeka & Santa Fe R., Qulf, Colorado Santa e By., and Panhandle & Santa No y.
SData not included in totals. Includes Southern Pacific Omparny, Texas and New Orleans R.B. Co., and leased lines.
U. S. GOVERNMENT PRINTING OFFICE: 1948-0-750193





~~C / Ste 3~'; 9LQ 7//X1


5Apr,48


UNIVERSITY OF FLORIDA

1 11111111111111l 1111111 1111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1679 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


UNIV. OF FL LII.

U
Ig Al, 1 Tnn


U.Sa. DEpOtTOFY


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

Compiled from 127 reports (Form IBS) representing 131 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

SC Class I Railways Not in
All Class I Railways Receivership or Trusteeship#
Income Items For the month of December for the twelve months of For the month of December For the twelve months of

1947 1946 1947 1946 1947 1946 1947 196
1. Net railway operating income.. ....... 80,021,828 $103,7,012 $00,713,564 $619,828,525 $73,644,880 $96,090,220 $731,959,255 571,17,200
2. Other income .. 34,076,47 37,858,862 929,015,438 209,352,979 32,358,130 35,492,810 217,673,621 198,26,661
3. Total income. .. ...... 14,098,265 141,622,874 1,009,729,002 829,181,50 106,003,010 131,583,030 949,632,876 769,438,861
4. Miscellaneous deductions from income .........-.- 5,964,991 7,058,286 45,011,542 34,375,212 3653,801 6,533,919 4194,91,960 33,133,479
5. Income available for fixed charges........ 108,133,274 134,564,588 964,717,460 794,6,292 10,3 209 125,049,111 907,690,916 7,305,38
6. Fixed charges:
6-01. Rent for leased roads and equipment ............ 11,088,254 14935,4 125,88,392 123,933,557 10,81,656 14,547,519 121,813,430 119,077,678
6-02. Interest deductions/...... ... 25,647,082 25,707,167 307,96,366 339,221,717 21,334,09 21,65,933 255,685,952 286,851,780
6-03. Other deductions ........... ........391, 25,90 2 54 1,599, 42 787 236747 1,930,253 1,4:,249
6-04. Total fixed charges ..37,126 1 09,529 435 12 464,754756 32 74 6, 19 3929.635 407353,707
7. Income after fixed charges............. 71,006,44 93,668,059 529,545,248 330,051,536 9,826,65 88,798,912 58,261,281 328951,675
8. Contingent charges ..... ....... 10,79,216 -4,610,841 49,578,768 39,242,059 10,794,216 4,610,841 49,578,768 39,242,05
9. Net incomeg/....... .. ..-- -- .... 60,212,227 89,057,218 79,986, 40o 90,809,477 59,032,249 84,188,071 478,682,513 29709616
10. Depreciation (Way and structures and Equipment)...... 29,650,647 28,843,66 52,752, 341872,671 27,703,275 27,3521 330,034,330 319238,616
11. Amortization of defense projects..----- ------- 1,420,3 6,806 16,200,1 9,52,94 1,318,510 530,231 14,916,111 8,890,601
12. Federal income taxes....... --.-....-. 24,032,357 d 69.408.153 97,800,136 a 15.479.853 23,284,515 d 67.295.085 289,093,177 14.909.375
13. Dividend appropriations:
13-01. On common stock. 20,496,866 22,058,959 181,706,350 175,962,457 20,496,866 22,058,959 181,706,350 175,962,457
13-02. On preferred stobk-.........- ............... .... 9,105,346 12,527,412 54,759,213 58,649,278 9,105,346 12,527,412 54,759,213 58,649,278
Ratio of income to fixed charges_/ (Item 5+6-04).. 2.91 3.29 2.22 1.71 3.15 3.45 2.39 1.81

SCas 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 December Balance at end of December
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road.................. $285,877,464 $231,151,772 $262,931,428 $208,104,184 Number of Amou Number of Amoun
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment. .. -----.................... 561,359,962 318,602,462 530,558,871 301,816,400oore
19. Investments in stocks, bonds, etc., other than those December 1947 96 72,762,755 27 $12,50,5 8
of affiliated companies (Total, Account 707) -...84268,291 519,946,759 571,312,766 568,296,73 December 196 84 99,819,65 39 10,7,6
20. Other unadjusted debits ------- -- .188.l48826 1 191.81 111.192.576 93.860 5 12 months 19 92 521,503,193 31 41,516 3
21. Cash -- 942,0,068 872,735,848 878,447030 812,773,491 12 months 194 88 353,970,12 35 63,160
22. Temporary cash investments -..........966,384,254 1,104 7,479 825,863,728 966,448,218
24. Special deposits .. r l..e. 1356,113,8O 165,883,358 124,9856 158233,672
Loans and bills receivable.its.- .. ...6. 1 4 6711,709, '65 44,648o NET INCOME-ALL CLASS I RAILWAYS mIL
25. Traffic and car-service balances-Dr... 56 ,837 43,3; 53,460 235 35,626, 15 ol- oLL*
25. Net balance receivable from agents and conductors 137,5872 130,271,396 129,9 152 122,667,91 LL
27. Miscellaneous accounts receivable .... 32,5330 295,986,1 290,i376,174 255,o437884 __
28. Materials and supplies .7-.... ... 75,50,81 653,930,359 713,93,784 9,82702 0
29. Interest and dividends receivable -- ... 16, ,614 22,738,914 1 ,698,367 21,99,957
30. Accrued aooeunts receivable 174,873,941 175,732,283 130050 162,146,718 1
31. Other current assets ....3455,345 33.13359. 27.763.379 26.786.948 60 -
32. Total current assets (items 21 to 31) 3,576,147,205 3,498,403,935 3,232,924,132 3,171,272,234 40
40. Funded debt maturing within 6 months 4/ 126,265,856 88,274,575 123,427,591 86,252,572
41. Loans and bills payable / --............ ----....... 4,755 ,000 9,545,600 '4,755,000 9,545,6oo ------ -
42. Traffic and car-service balances-Cr. 1052,3 103,013,833 97,500,233 94,816,923
43. Audited accounts and wages payable 511,37,394 470,429,47 474,594,911 437,11,119
Miscellaneous accounts payable............. 232J,73,563 176,183,317 202,022,055 149,77,809 o--
5. Interest matured unpaid -..... 6,671,318 76,329,142 53775,465 73,73,622
Dividends matured unpaid...... 2,116,56 15,5,46 7,77 15,336,876
7. Unmatured interest accrued .... .... 6455,30 6 58,75,514 63,39,151 5854,624 -to ------ -I- -I --
g. Unmatured dividends declared .. 20,40,586 29,569,182 20,230,086 29,569,182
: A crued c.:ount payable ---- 1 ---- 16---7-- 0 -10s- -- -- -2- -- 8 -15- -14
taxes accrued 632,977,126 376,067,382 604:,991,998 355,034,258 40
Other current liabilities-- --.--- --. -.--- 99,075.902 99.814.974 94.676.67 1 95,520.782
52. Total current liabilities (items 41 to 51) .-- 1,942,973,825 1,584,948,146 1,808,066,667 1,474,896,943 -so- -- -so
53 Analysis of taxes accrued: 2S O
53-01. U. S. Government taxes -....-...-......-............... ........,-- 3716036 269,OOO,506 294,63,46 3255,2:Z,296
5-02 Other than U. S. Government taxes.......... 117,370,26 107,0o6,6 10,651,994 99,7' ,,62 1945 1946 1947
54. Other unadjusted credits......................................... 3-- 37,133,736 377,727, 294,399,945 335,844,426


2/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended December $164,850,967 $185,547,630 d $20.696.663
6 months ended December 274,969,674 312,170,247 20
12 months ended December 479.986.480 290.809.477
The net income shown for December 1946, is after a deduction of $3,717,256 taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: December
1947, 1.26; December 1946, 2.05; 12 months of 1947, 1.02; 12 months of 1946, 1.02.


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.
S Includes obligations which mature not more than one year after date of issue.
Excludes reports for 4 roads for the month of December 1947 and 1946, and
4 road r the twelve months of 1947 and 1946, where net income (or deficit) was absorbed
by the controlling company.
# Figures include returns of the St. Louis San Francisco, which emerged from
trusteeship on January 1, 1947; Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947, and the New York, New Haven, and Hartford, which emerged from trusteeship
on September 18, 1947.
d Decrease, defioet, or other reverse item.


Subject to revision


Statunent No. M-125
DECEMBER 147







INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS

FOR THE TWELVE MONTHS ENDED DECEMBER 1947 AND 1946


Page 2


EST RAILWAY OPERATING NIT INCOME FEDAL INCOME DIVIDiED NE RB LWAY OPERATING NET INCOME FEDERAL INCOME DIVIDlID
INCOME TAX S APPROPRIATIONS INCOME TI.E APPROPRIATIONS
region and railvar Region and railway
1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1947 1946 1947 1946

United States Total .................. $780,713.564 $619.828.525 $479.986.480 $290.809.477 $297.800.136 d $15.479.853 $236.465.563 $234611.735 Southern Region Continued
Eastern District Total ............... 215.803.194 144.930.431 81674.548 463.575 48.536.23 d 5.80.144 42,788,979 46.461,083 Clinchfield .......................... $6.826.248 $4,490,137 $650,238 $649,032
Columbus and Greenville .............. 35.806 d 4.116 $2109 22,470 1.153 d 4.446 9.850
Nw England Region Total ............. 12.605,820 5.365,543 357.575 d 6,604.411 2.84,431 d 3.341.973 265.750 264,773 1oridan Eat Ooat'** ................. 1.5 .1 291437 d 26 7 109.494 d 1,400,00 ,251
Georgia R.R. Lessee Organisation ... 620.611 d 38 -
Bangor and Aroostook ................... 1.655.920 968.42 1.164.550 453.811 759.947 d 191.,00 191,400 Georgia & noridaa ................... 4.403 10.209 967.475 930195 -
oton and Maine ..................... 5930518 4,496.975 1,981,051 7 246 1.875.578 d 17362 Georgia Southern and Florida ......... 352,081 57 3 070 238,118 139000 d 35.585 -
Canadian National Lines in NoEnglan 1.16793 d 1.255470d 39 4588 Gulf, Mobile and Ohio ................ 6.876.002 3.296,171 3.632.555 11 946 1.764.269 2,903.138 $1.875,809 708.596
Canadian Pacific Lines in Maine ........ d 04 d 27210 Illinois Central ..................... 24,318,396 17.889.905 15,039,442 7,462,575 9,702.000 7.150.131
Canadian Pacific Lines in Vermont ..... --1 226 -1 2 Louiville and Nashville ............. 16,280.657 15.595.486 13,286947 11.579.590 8,310,873 6.165.191 8,236,800 8.236.800
Central Veont ..................3 27.09 d 720.621 d 1. .18 76,553 91,708 Mississippi Central .................. 165,429 109322 61781 5.954 41.66 2,225 -
Maine Central ......................... 2.166,610 1.92.637 1.05.882 q97.09 433.720 126,712 74,350 73,373 Nashville, Chattanooga & St. Louis ... 1,936,033 11495,112 801,479 270.142a451.476 d 2 1 1488 255.982
New York Connecting .................... 6314,.287 1031.126 d 9.56 280,395 d 35.00 d 79,99 Nov Orleans and Northeastern ......... 1,97,8715 938,589 1.728,056 721.036 1.425.o0005 -
Sew York. w R ":aven and Hartford ....... 4.908.131 95 2192 0 26.5 d 72 367 d 210 991 Norfolk Southern ..................... 1,366,212 47. 30 1,376 .016 1 05 -
Rutland ........ 53975 d 277, 40 6054 709 Seaboard Air Line .................... 8.789.771 11048,763 3 54330 4 5 100.000 4622 750.000
Southern ............................. 21.375,013 19,31114 6 11,892.761 9,252.270 8.980,000 2,42852 6.894,600 6.,94,600
Great Lakes Reion- Total ............. 93,419,412 58656.406 38.524,459 1.462.576 16.701.196 29.198 7 17.596,508 11351,812 Tennessee Central ....................d 17 d 282.97 00.999 d 56 117627d 2819 17,500
western By. of Alabama ............... 262.853 2P.9W 239.977 231.551 .5814 T 28657 120.000 150,000
Ann Arbor ................................. 617,177 99.331 412.391 d 11.6 265.258 d4 7 2.35
Cabra and Indiana .................... 46019 66213 254.327 6 1 567,3 6 2 390000 540,000 Western District Total ..............372.515.933 316.747.886 262.168839 195.219.674 164.223.732 4,625.212 112.611.022 112,054.055
Delanare and Budson .................... 5.815382 4,093.098 4,546 4 2,131,18 2,582793 -
Delaware, Laokawanna and Western ...... 8.322.247 5,109.258 3.257-326 36,216 745,520 d 925 1
Detroit and Mackna ................. 372.650 39 26 97967 15057- Northwestern Region Total .......... 91,381,376 0.715655 60.287.320 4924.460 24.156.550 405444 2907.607 41.435.424
Detroit and Toledo Shore Line ............. 855.721 556.249 765,210 466,317 496,665 136934 240.000 240.000
S................................. 11,28288 7.25056 860350 2,994 2.676995 4,4 72.794 4.72.714 Chicago ad North Western.............. .458.006 10.893,790 5,066.068 7,179.832 2.390.000 d 917.000 4.980.786 5.38.938
Grand Trnk Western......... 3.572.923 1 11 2 01 612 690 10000 88 28 Chicago Great Western ................ 2,388,828 1.856.096 687.669 1731488 142.212 1 10228819
Lehigh and Eudson Rier................ 26,910 23, 9 252.300 260 406 167,101 158- 95 235,350 282,420 Chicago, Milwauke, St. Paul & Pacifio 16,812.176 13.346.598 6.655.273 3.176,068 3.165.00 d 8O. 1 2.804.350 11.217,400
Lehigh and New England ............... 496 71 1.59173 1439066 1.118.538 952.119 346019 952000 748,000 hicao. Saint Paul, Minn. & O ha ... 1,625,278 927.556 660 1.363.100 l
Lehigh Valley ........................ 279.880 6434,473 8215 108,103 61 uluth, Miabe and Iron Range ....... 8,952.762 8668469 .53.95 8358602 5118.078 3 797 8.225.000 10,281,250
Monongahela............................ 1.656.799 936,808 1.214.821 473.590 733,101 3 302 499,600 374.700 Duluth Soth h Shore and Atlantic** ... 7.459 10.775 46 92119 -
Montour ......... ................... 2621 s 79.038 730.261 172,291. 6 2.471a e 29 5 865,470 510.000 Duluth. ai p e .nd Pacific ......... 1 6..99729, 412 2 9.274.64 9.277.6
Ne YOrk Central ................... 24.519.561 15 7.219 2,306,082 d 10 268 2 2 8 62 rt orthern.......................23,815 235700 6997997 d9277,647
s or. hiooan S t. Loui. ......... 10.22642 8.42630 8 13 5. 48 2.163,389 216,38 GenBy and Wetern ............... 188 131.208 16163 137,700 219,839 10.72 5,000 125,000
New Tork, Onterio and Vedtern ....... 22 d 1.672746 2.855700 301 1 .- Lake Superior & Ishpeaing ............ 863.773 286,571 872,268 298,779 545.373 88.401 374,850 267.750
New York, Susquehanna and Western ....* 2 596 90 d 2 84 2559d 13.964 d 22641 Minneapolis & St. Louis .............. 1914.674 443938 1.949.324 439,288 1,191,901 123.135 750,000 300,000
Pittsburgh and Lake rie ............... 7.476.516 3.270,806 6,634.4' 7 3.661.346 3 .5099 2.308 5,181,900 3,022.775 Minneapolis. St. Paul & S.S. Mari ... 2.033.179 1,018.068 1.183.000 154.18 845.000 1 204 719,104 1.797,760
Pittsburg ani Shavut ................... 595.707 247.94 472,613 151,293- Northern Pacific....................... 18,05.1493 13.351.893 13,379.70o4 s,ss,146 3.235,000 1231063 21479.710 2.479.710
Pittsburg & est Virinia .............. 1,639.49 428.693 1.118.912 d 45,523 d d d 10.531 Spokane International ............... 222,716 214,01 101.819 101.620 5.574 4 71.160 71,160
abash ................................. o10,89,578 6.682.347 7.393.274 3,70969 d 47.05 2,596.005 1.997.819 Spokane, Portland and Seattle ........ 1,832.871 2.11 h,809 d -
Wisconsin Central /** ............... 3.489.563 2.830,972 1.536 882,9 8 545,000 d 1,210.806
Central eastern Region Total .......... 109.777.962 80,908.482 42.792.514 5,605.410 29.450,611 d 21.339.77 24,926.721 31,8144,98 Central ..... .. 11 g O 153.454.461 151.27.427106.836.246 ll0.472076 19.150 78.96.495 66.211711
Akron, Canton & Youngstown............... 829.821 413,.813 611,217 188.558 365.111 96.007 106.675 78.385
Balron im non a & ounhi to ............. ...... 29.21 ,09913 49 2815 909.109 588. 968.0 106.675 78.385 Atchison. Topeka and Santa Fe S ..... 54.302,422 45,554,082 47,743.744 39,015,178 35.130.492 28,267.009 20,771.000 20.711,000
Besleore and Lake rie .......... ...... .580.9819 .68386 6.575.623 3.603.793 4.342,906 1, 24366 5,500.000 2.250,000 Chicago,. Brlinton & Quincy ......... 31.780.908 26.991.098 27.741.871 23,102.774 18,197.831 13,435,282 10,250,322 10,250,322
central R. of la w Jeree ....... .....** 101 d d1.978.526 853 d 1i5 659 Chicago. Book Island and Pacific ... 21,255.375 16,633.851 8.329.964 3.679.068 6.425,000 3.721.188 -
Central R.R. of Pennelvania ........... 8.o76 95 3.082,62 2'1216 194 9,091 4000 Colorado and Southern ................ 699.039 214,6 3 53.208 7.901 531.704 101,209 -
Ohicago & Eastern Illinois .............. 2.285,42 d 197. 214 84.4,803 d 17.902 d 657000 d 162- 383,863 Colorado & Wyoming ................... 440.828 257126 16107 183,167 265.200 27500 -
Chicago & Illinois Midland .............1,667.558 7P31T 1,313,371 37,9o8 8o8.991 118.757 30000 300,000 Denver and Rio Grande Western......... 8.330,213 6.321.996 .3105.710 2,031.799 d 3.253,130
hicago, Inianaolis and Louivll .... .115 d 9 d 10 2 d 1 101 222 4,06 Fort Worth and Denver Cit ........... 2.217,621 862,095 1,021,316 810.294 03
Detroit, Toledo and Ironton ............ 3.127,408 1.5 1 122.366 3214.5814 1.,,45326 613.30 Norothwestern Pacific .. ........... 2... 461 a 20 1 2o33.376 21o6. -
1Oh 3,0i370i5 840 2,l6 7......... 5909.3680 Southern93 Pacific.2 8................74.119 16943752 8.830.1432 W351I62 15o1461,166 d 886 114 15,091.052 15.091,052
Elgin, Joliet and Eatern .............. 5,162,1571 .600oo617 4781,482 1.475,231 ,037.057 91.o77 2.2265.oo T.o0o so thr Pacifio ..................7 4 9 o. 1.15.61,166 15:o915 15 91052
Illinols Terminal.................. 1,823.433 1,03 .968 1.263,689 871 888.80 418.900 360.000 90000 Southern Pacific Tranp. System 55.931 1,524,526 33436.58 25,281,106 23.037.951 8 8 1 :0O5215:091,52
long Islan6 ..1....................d... 6 6 6, Toledo, Peoria& Western.............. 8& 6.41.811 d 3690.99 d 69678.d 0
Lourng Islan ............................ ,1o3 6329.1 3.9. 536,000 420.ooo 126,685 135,000 UnionPacific3 ................ .. .57.231 .953.3 54.447.495 3030 9.59o 12.269,366 26.21,349 17.321,709
Pennsylvana ........................... 32.311.073 25.91722 7.285.125 d .54,911172 d 9.6 199 6.583.877 19,751,632 Utah ................................ 61.329 9.77 d 5.367 14,112- 22,100
Pennsylaniak Readin Seashore ine ...... 4 5.153 35 9648 372,06 321.192 351.479 We9,tern 2Pacificalle. ...................... 5.085592 1 5002920 3.550.251 1,1698 1,15.072 2817.42 2.777.628
leading .................................::: 951,972 8.331.27 8, .54 .594.91 5,153.553 3.270.680 4.87.7149 4,197.033 af 2 o 6 a 42
Sotaten Island Rapid Transit................. 10771466 945.255 55.728.398 36.474- Southwes608tern 37246on Total608 37..........246885 59 16567 82.577.770 .6392 38558,968 29595.106 6.15392 4,0692 4,06.9
Staten Marylan id Tran.......................d 2 9d ,119. d6 1 22. d3.1236 32 d 172598 1.241940 141.947 ...
Wheelingand L ri 6.60.277 3.812.608 6.980.360 3.790 118 39.91,000 2.,140.00 2295,54 2.039,309 Boumont. Sour Lake & We9terne ...... 1.894,011 1.785 783 1,786,500 1.595.113 356.218 620.616
S........... urlington- ook Island ...............33 185.667 67.714 d 4 .S6 d 501626 -
Southern District Total .............. 192.394.437 158.150.208 136.143.093 95.126.228 85.0o40.166 33.775,079 81,065.562 76.096.597 Intrnational-Great Northern" ....... 1,291.216 281.482 d 1.204.077 d 2.2OO. -
.Kansas it.. South hern P ............. 7.629,R6 5.3807351 5 5,409.015 3,0.19 2.815.000 1.905.000 840.000 o2.7.50
Pohontas Reion Total .............. 88622.971 64693.953 80414.695 58.651.620 44 79,3.2001 32.620,220 55,506, 82 52,834,127 Kanl .s Olehoma & lf ................ 6988.0 755.871 8590 616.077 35,:63 312744 531.570 531.570
Louisiana & Arkansas ................. 2,485.500 2,.202.145 1.999,14 1,635,721 1.700,200 8149.000 300,000 300.000
Chesapeake and Ohio .................... 42,615,153 35.069.684 35,387,327 28.372,066 20.713.192 12.997.869 25,349,766 27,360.739 Midland Valley ....................... 268.921 144,988 103.97 1.757 82.835 4.914 -
Norfolk and Western .................... 35.059.045 21.952.67 35.31.897 23.727.676 20.500.000 15.500.000 21.273,612 19.163.887 Missouri and Arkannsas............... 215.267 194.935 d UL,0 9. 0 dI5
Richmond, rederioburS and Potoac ... 2.169,.508 2.919.319 2 8.917 3.376.923 1.63.9M 2.227.091 1.078,6145 1.505.1 Misslouri-ana-Tea ................ 5 3.30 .398.339 2.820,325 1.715. 1.666.1473 1,7.00
Virginian .............................. 8,779.265 4.752.308 7.1146,554 3.174955 1 4936.125 1,895.260 o 4.8so459 4.80O4, MissourilPacific*e ................... 21.543.721 19.03.71 8.271.925 6,309,123 2.0,O.OOO -
New Orleans. Texas A&Mexicoec .........551,952 3,522.981 d8 2.112.1400 2,689.455 220,143 d 428.448
Southern Region Total ................ 103,771.466 93,456,255 55.728,398 36,474,608 37,246,885 1.154,859 25.559.080 23,262,170 Oklahoma City-Ada-Atoka ................... 2.892 65.172 d 2 214.797 15,503 38584
St. Louis, Brownsville and Mexicoa .. 2.508,319 1,430.O401 i.59..0 692.406 1407,824 641,998
Alabama Great Southern ................. 1.811.539 1.116.130 2332,282 1.563,290 1.374,000 d 62.S44 1,457.3 6 1.121,035 St. Loul-San Francico .............. 10,373.298 13.394,662 5,142.276 2.252.219 3,947.665 7,925.2
Atlanta & Saint Andrewe Bay ............ 329.112 247,252 314.380 203.4 207.309 40.538 60.000 30,000 St. Louis. San Prancisco and Te; a ... 317.098 10o.5144 267.820 4 165,000 d21
Atlanta and WeVost Point ................... 87.518 82.950 112,311 109,106 d 56692 325.195 49.272 98,544 St. Louis Southwestern.................. 9,879,474 7.332.181 .7,223,739 4665669 6.395.718 2.463.634 -6
Atlantic Coast Line.....................3,0149,642 5,016,954 600395 5.,44694 750.000 d 500.2 3,301,583 3.302,093 San Antonio, Uvalde & Gulf5.......... d 5721421 ,d 621, 560 d066 4 -
Central of Gorgiac.* ................... d 61.985 1.14011057 d3 d 626 165.8858d 1.25578 Texas and Now Orleans .................. 1 81.512 14.917,0 11.769,410 1.O60.295 776785 d 7602467 -
Charleston & Weotern Carolina...... .... 30680 13,80 98,5 8 d00 a 50.000 72.000 Texas and Pacific ..................... ,7142,413 7,561,.381 51460.081 5,435.135 1,193,191 1,331.928 2.735350 2.735,350
Cincinnati. New Orleans and Texas Pa,. 6.193.843 3.805.497 1.386.675 2.25b. 4* 3.835.000 1.819.793 2.813.670 2,365,170 Texas Mexican ......................... 676.023 28,149 5141,902 172.531 317.088 67,330


* Report of receiver or receivers.
00 'Report of trustee or trustees.
d Deficit or other reverse item.
:I Includes Boston & AlTany, lesaor to New York Central A.R.


F formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
S Includes Atchison, Topeka & Santa fe Ry., Gulf, Colorado & Santa Fe By., and Panhandle & Santa 1e By.
S Data not included in totals. Includes Southern Pacific Company, Texas and New Orleans .BR. Co., and leased lines.
U. S. GOVERNMENT PRINTING OFFICE: 1948--0-750193




Full Text

~~C / Ste 3~'; 9LQ 7//X1


5Apr,48


UNIVERSITY OF FLORIDA

1 11111111111111l 1111111 1111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1679 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


UNIV. OF FL LII.

U
Ig Al, 1 Tnn


U.Sa. DEpOtTOFY


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

Compiled from 127 reports (Form IBS) representing 131 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

SC Class I Railways Not in
All Class I Railways Receivership or Trusteeship#
Income Items For the month of December for the twelve months of For the month of December For the twelve months of

1947 1946 1947 1946 1947 1946 1947 196
1. Net railway operating income.. ....... 80,021,828 $103,7,012 $00,713,564 $619,828,525 $73,644,880 $96,090,220 $731,959,255 571,17,200
2. Other income .. 34,076,47 37,858,862 929,015,438 209,352,979 32,358,130 35,492,810 217,673,621 198,26,661
3. Total income. .. ...... 14,098,265 141,622,874 1,009,729,002 829,181,50 106,003,010 131,583,030 949,632,876 769,438,861
4. Miscellaneous deductions from income .........-.- 5,964,991 7,058,286 45,011,542 34,375,212 3653,801 6,533,919 4194,91,960 33,133,479
5. Income available for fixed charges........ 108,133,274 134,564,588 964,717,460 794,6,292 10,3 209 125,049,111 907,690,916 7,305,38
6. Fixed charges:
6-01. Rent for leased roads and equipment ............ 11,088,254 14935,4 125,88,392 123,933,557 10,81,656 14,547,519 121,813,430 119,077,678
6-02. Interest deductions/...... ... 25,647,082 25,707,167 307,96,366 339,221,717 21,334,09 21,65,933 255,685,952 286,851,780
6-03. Other deductions ........... ........391, 25,90 2 54 1,599, 42 787 236747 1,930,253 1,4:,249
6-04. Total fixed charges ..37,126 1 09,529 435 12 464,754756 32 74 6, 19 3929.635 407353,707
7. Income after fixed charges............. 71,006,44 93,668,059 529,545,248 330,051,536 9,826,65 88,798,912 58,261,281 328951,675
8. Contingent charges ..... ....... 10,79,216 -4,610,841 49,578,768 39,242,059 10,794,216 4,610,841 49,578,768 39,242,05
9. Net incomeg/....... .. ..-- -- .... 60,212,227 89,057,218 79,986, 40o 90,809,477 59,032,249 84,188,071 478,682,513 29709616
10. Depreciation (Way and structures and Equipment)...... 29,650,647 28,843,66 52,752, 341872,671 27,703,275 27,3521 330,034,330 319238,616
11. Amortization of defense projects..----- ------- 1,420,3 6,806 16,200,1 9,52,94 1,318,510 530,231 14,916,111 8,890,601
12. Federal income taxes....... --.-....-. 24,032,357 d 69.408.153 97,800,136 a 15.479.853 23,284,515 d 67.295.085 289,093,177 14.909.375
13. Dividend appropriations:
13-01. On common stock. 20,496,866 22,058,959 181,706,350 175,962,457 20,496,866 22,058,959 181,706,350 175,962,457
13-02. On preferred stobk-.........- ............... .... 9,105,346 12,527,412 54,759,213 58,649,278 9,105,346 12,527,412 54,759,213 58,649,278
Ratio of income to fixed charges_/ (Item 5+6-04).. 2.91 3.29 2.22 1.71 3.15 3.45 2.39 1.81

SCas 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 December Balance at end of December
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road.................. $285,877,464 $231,151,772 $262,931,428 $208,104,184 Number of Amou Number of Amoun
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment. .. -----.................... 561,359,962 318,602,462 530,558,871 301,816,400oore
19. Investments in stocks, bonds, etc., other than those December 1947 96 72,762,755 27 $12,50,5 8
of affiliated companies (Total, Account 707) -...84268,291 519,946,759 571,312,766 568,296,73 December 196 84 99,819,65 39 10,7,6
20. Other unadjusted debits ------- -- .188.l48826 1 191.81 111.192.576 93.860 5 12 months 19 92 521,503,193 31 41,516 3
21. Cash -- 942,0,068 872,735,848 878,447030 812,773,491 12 months 194 88 353,970,12 35 63,160
22. Temporary cash investments -..........966,384,254 1,104 7,479 825,863,728 966,448,218
24. Special deposits .. r l..e. 1356,113,8O 165,883,358 124,9856 158233,672
Loans and bills receivable.its.- .. ...6. 1 4 6711,709, '65 44,648o NET INCOME-ALL CLASS I RAILWAYS mIL
25. Traffic and car-service balances-Dr... 56 ,837 43,3; 53,460 235 35,626, 15 ol- oLL*
25. Net balance receivable from agents and conductors 137,5872 130,271,396 129,9 152 122,667,91 LL
27. Miscellaneous accounts receivable .... 32,5330 295,986,1 290,i376,174 255,o437884 __
28. Materials and supplies .7-.... ... 75,50,81 653,930,359 713,93,784 9,82702 0
29. Interest and dividends receivable -- ... 16, ,614 22,738,914 1 ,698,367 21,99,957
30. Accrued aooeunts receivable 174,873,941 175,732,283 130050 162,146,718 1
31. Other current assets ....3455,345 33.13359. 27.763.379 26.786.948 60 -
32. Total current assets (items 21 to 31) 3,576,147,205 3,498,403,935 3,232,924,132 3,171,272,234 40
40. Funded debt maturing within 6 months 4/ 126,265,856 88,274,575 123,427,591 86,252,572
41. Loans and bills payable / --............ ----....... 4,755 ,000 9,545,600 '4,755,000 9,545,6oo ------ -
42. Traffic and car-service balances-Cr. 1052,3 103,013,833 97,500,233 94,816,923
43. Audited accounts and wages payable 511,37,394 470,429,47 474,594,911 437,11,119
Miscellaneous accounts payable............. 232J,73,563 176,183,317 202,022,055 149,77,809 o--
5. Interest matured unpaid -..... 6,671,318 76,329,142 53775,465 73,73,622
Dividends matured unpaid...... 2,116,56 15,5,46 7,77 15,336,876
7. Unmatured interest accrued .... .... 6455,30 6 58,75,514 63,39,151 5854,624 -to ------ -I- -I --
g. Unmatured dividends declared .. 20,40,586 29,569,182 20,230,086 29,569,182
: A crued c.:ount payable ---- 1 ---- 16---7-- 0 -10s- -- -- -2- -- - 8 -15- -14
taxes accrued 632,977,126 376,067,382 604:,991,998 355,034,258 40
Other current liabilities-- --.--- --. -.--- 99,075.902 99.814.974 94.676.67 1 95,520.782
52. Total current liabilities (items 41 to 51) .-- 1,942,973,825 1,584,948,146 1,808,066,667 1,474,896,943 -so- -- -so
53 Analysis of taxes accrued: 2S O
53-01. U. S. Government taxes -....-...-......-............... ........,-- 3716036 269,OOO,506 294,63,46 3255,2:Z,296
5-02 Other than U. S. Government taxes.......... 117,370,26 107,0o6,6 10,651,994 99,7' ,,62 1945 1946 1947
54. Other unadjusted credits......................................... 3-- 37,133,736 377,727, 294,399,945 335,844,426


2/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended December $164,850,967 $185,547,630 d $20.696.663
6 months ended December 274,969,674 312,170,247 20
12 months ended December 479.986.480 290.809.477
The net income shown for December 1946, is after a deduction of $3,717,256 taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: December
1947, 1.26; December 1946, 2.05; 12 months of 1947, 1.02; 12 months of 1946, 1.02.


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.
S Includes obligations which mature not more than one year after date of issue.
Excludes reports for 4 roads for the month of December 1947 and 1946, and
4 road r the twelve months of 1947 and 1946, where net income (or deficit) was absorbed
by the controlling company.
# Figures include returns of the St. Louis San Francisco, which emerged from
trusteeship on January 1, 1947; Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947, and the New York, New Haven, and Hartford, which emerged from trusteeship
on September 18, 1947.
d Decrease, defioet, or other reverse item.


Subject to revision


Statunent No. M-125
DECEMBER 147





2T- / Z 34 ; .5/91^ ?


'"I'.EC TrV II FL CAr',C 4

Illl 11111111h11111111111111111111 .INT ERSTAT E C 0 -fC COMMISSION
S1262 08851 1869 BUREAUOF TA~uNIO AND STATInUcS


Statement No. M-i25
MAY 14


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

Compiled from 128 reports (Form I) representing 132 steam railwayse
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

Class I Railways Not in
SAll Class Ia..R ysLa Receivership or Trusteeship #
Income Items
F or the month of Nay Por ths five months of or the month of May For the five months of
_1947 19 i" 1947 1946 1947 4 194 1946

1. Net railway operating Income 4.553.086 3,2,42 6 169 69 $69,418,4 a t3907.679 28,729,113 q01,8,7
2 Other imher deductions .. 1 8 3231 35
3. Tota incometa xed cha6 8 195 30,3 37, 5 16,
4, Miscellaneous deductions from income .. ,845,Q43 1,508 021 .5O, 1401 11,127.065 2,773,2: 43 1,1 2,O7 15>394,37 1
5. Income available for fixed charges 861772,747 77lSk458 36A?:178;490 1.75,0214352 79,4l.733 7,'5,586 332147549;7 155542;
6. Fixed charges:17,558,108 ,7 o 3, 17,558,1
6-01. Rent for leased roads and equipment 10,638,194 9,7916 ,6,86 47,479,36 10,263,07482 269, 60 132 7,82 12944,77,514
6-02. Interest deduclionsI/ 25,756,31r 30,31.63&62'76 147,73543 20,252,855 24,836,770 101,994,740 118,901,160
6-03. OLher deductions p s............. 16, 2675 512 4 1,76 5 3 80 82 85 6 6,634 2 8, 3
6-04 Total fixed charges 36,56,73 10,553:273 39 333 195,34691 .66 15 164,217,9
7. Income after fixed charges 5015,964 824 1 l 67 20 1040 48,751,474 8,5,30 8446
8. Contingent charges ,3,855,769 17,558,108 1737,38 3,>855,769 3;203;3 17,558,108

10. Depreciation (day and structures and Equipment) 29,148,4480 286,96 44, 76,862 112,234,848 26,854,622 26,090,74 32,967 2 0
11. Amortization of defense projects 356675---------------------- 1366 7, ,30 3,,80 1,226 654,557 6 2 2

13. Dividend approprialtons: .
13-01-. On oon stok .21,55 22,1693963,69 67,0,64 21,454,53 2,i6,9 5963,6
1-02o: on preferred stock 52964 4,027141 1680596 196 81 5,29643 0 80516 1965181
Ratio of income Atd fixed bhargesS/ a IVtei 5+6-04).- 2.37 '- 0.191" 2.00 0.8 2.59 0.222.16 95


Selected Asset and Liability Items


17. Expenditures (gross) for additions and betterments-
Road .
18.' expenditures (gross) for additions and betterments-
Equipment ..
19. Investment in stocks, bonds, etc., other than those
of affiliated companies (Total. Account 707)..
20. Other unadjusted debits
21. Cash
22. Temporary cash investments
23- Special deposits
24. Loans and bills receivable.
25 Traffic and car-service balances-Dr.
2 Met balance r.ceivable from agents and conductors
27. Miscellaneous accounts receivable
28. Materials and supplies
29. Interest and dividends receivable
0. Aocrued acoodutte reeoo able
. Other current assets
32. Total current assets (items 21 to 31)


.0. Funded debt maturing within 6 months/
41. Loans and bills payable./.
42. Traffic and car-service balances--Cr
43. Audited accounts slad wages payable
44. Miscellaneous accounts payable
4. Interest matured unpaid
4 Dividends matured unpaid
47. Unmatured interest accrued
S1. Unmatured dividends declared
49. Aorued accounts payable
STaxes accrued.
Other current liabillitie
52. Total current liabilities (Items 41 to 51)
. 53 Analysis of taxes accrnu:
53-01. U S. Government taxes
5) -02 Other than 0I. S. Government taxes
54. Other unadjusted credits.


All Class I Railways


Class I Railways Not in
Receivership or Trusteeship#


Balance at end of ay Balance at end of Ma


19'7


193,98.090
187,62, 174
575,560,927
181.381.44.


1,03,57,1121
122,271
2 027
1 ,0



2.9


63,506,889
91,241 A9
58g,92a,155
37hL toa mts


' 1947


i82,196,648
174, 614, 479
559,543,476
unr c; r r O,


87, 43, 658
80,463, 641
572,047,"37
*m^ :L1 ;ca


iI lv .l.f 1 i- -.- l'~ I I lJ


6
0;
1, 94:1O182h


3199258770


-- -L I I


1r 3.1 5 7 n2a9


a.s oai ls


Q906,901,604
1,1337,73 ,10


80, 3S,177
5.1,293,035
306 1 S21

17, o0545,
8 .


*1 -, -


12 4 9 17 .36


122 nlr nn.


4,2 0,000 ip, 4,250,000 loo,4 ,ooo
92,3 0,232 10, 33 80,70, 92,571,933
11,2 4, 0 *6 43 ,7,092
739197 s. ~ 17 ,957, 61
4, 2 1, 778 5, 3.1, 9
671 956.05 0 210,-o531 5E109,971
98,211,39 0, 3 0~192 49o


87,912o94 3 21 585258.1334
871950 320___ i23.62.114


tj 121, -,E 06A


353,228,892
17 900,B 71
361,477,21o0


. 802, 835
Qyb078,386
-. 56;55,903


I I. -.-- ,j11,J 4 I


467,079, 13
117,276,321
340, 9,527


S77a cr. 7.47


ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS/


Period


May 197
May 1946
5 months 1947
5 months 1946


Railways Reporting a
Net Income
Number ofl Amont
reports Amoun


51 861,7,698
92 195,63,763
57 0,487,28


Railways Reporting a
Net Deficit
Number of A
reports Amount


7 65g, 6
S 29,1 ,04
67 117,035,548


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


.. .i .


Period -1116 a 1946
3 months ended Nay 6122,93,9940 d $88,094,660 0, 4
6 months ended May 261, 8,633 a 115.057.79 376, 1
12 months ended 9ay 191.6.1 1.944L47 2,.1.


The net income shown for Hay 1946t As after a deaduion of 234,412, take out aS '
operating revenues to create reserves for land grant deductions in dispute *Iu. '
3/ For rail was in receivership and trusteeship, the ratio was as follows: May
1947T, 1.25; May 1946, 0.04; 5 monthB of 1947, 1.19; 5 months of 1946, 0.62.


4/ 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.
Includes obligations which mature not more than one year after date of issue.
y .xoludes reports of 5 road for the month of Ray and 5 months of 1947 and 4
roas for the month of May and 5 months of 1946, where net inoome'or defiolt) was
absorbed by the controlling company.
SExcludes Toledo, Peoria and eastern Railroad.
h Figures include returns of the Seaboard Air Line which emerged from receiver-
sap on Aucuet 1, 1946; St. Louis San Francisco, which emerged from trusteeship on
January 1, 1947 and Denver and Rio Grande Western R. R. Co., which emerged from
trusteeship on April 11 1947.
d Decrease, deficit, or other reverse item.


Subject to revision


UNIV. OF FL LJ.






U.S. DEPO4lTORY


re;


II : -.

-I? -s -~ .
-yBI, ~iT-i
~:?i~.
'
i(~I


S26,557, 44
. *5,549, 66
l_.,09. 9, 03

17, ,
17 70 2
.3 .0


542r


1 -1 .. 1 -1 .- & 0 -1 I -, -- -1


-1


I


-I-


I-


i - I-1


I


,1 9 ,27 .5 2 *,995. 4, 7


Em ,


Aug l'47


,,


1 h.9 on7 0nn


841 495
6f
1


i42 l40n n0-3


1 (nl4 2"f elm


Ir
.d)..






Ca r e. 3^a = 4


Subject to revision


UNIVERSITY OF FLORIDA

3 III II IIIl II0851 ll893I III
3 1262 08851 1893


INTERSTATE COMM RCE COMMISSION
BUREAU OF TRANSPORT COMICS AND STATISTICS


6Dec'47


Statement No. M-12
AUGUST 1947


UNIV. OF FL LIB.


I AS %I nn

U.S. DEPOC"TORY_


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

Compiled from 126 reports (Form IBS) representing 130 steam railways e
(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
1947 1946 1947 1946 1947 1946 1947 1946
Net railway operating income. .. .. .. .. 0,824,826 $81,855,563 0509,995,690 $299,647,821 $74,664,740 I $1982,487 $272,399
2. Other income 14,228,8141 15,5,019 129,37, 2274.79 1216:26 i,414 9,186,191 114,0,1 37
3. Total income... 95,053,667 9706,58 639, 3 421,922 3 87630,266 90,5 85 591,8,68 386,899
4 Miscellaneous deductions from income-. 3,1-4,697 2 ,880,093 2 08 ? 6 19,140,567 3,-308,301 2,6-3,268 24,058,859 18,617,3
5. Income available for fixed charges....... 91,60,970 94,326,49 6 4,86 40,521,733 84,321,65 87,713,817 567109827 368,282,2
6. Fixed charges:
6-01. Rent for leased roads and equipment .. 10,975,5 10,546,98 2 78,85,392 O1,516,007 i2 8,2,931 7,6833
6-02. Interest deductions/........ 25,39 27,085,360 206,172,256 231,871,568 20,19,860 21,858,67 16 189,269,88
6-03. Other deductions..... .... 157,81 123,369 1,179,71 9 68 42 109,11 186 96
6-04. Total fixed charges .36, ,878 37,755711 20,890,22 311, 695,928 30,798,10 2,222,101 2,780 0 264, 108
7. Income after fixed charges......... 55,083,2 56,5 ~,8 32,3 ,596 0,805 53,523, 5149116 2,.329,oo7 10o,45,15
8. Contingent charges 7 53-,502,279 8,216,0 25603, ,7397 293,082,972 0 ,6 o
9. Net income .... .51,3 650.. 79 29:,988,561 65,22235 49,7,909 5 423,217
10. Depreciation (Way and structures and Equipment).. 29,578,939 28,476,35,290,9 2 3: 227,433,948 27,180,277 26,118,004 215,98,110 208,57,1
11. Amortization of defense projects..------------------- 1,354,223 973,152 10,820,668 5,85,795 1,233737 60,318 9,56,505 5,18,10
12. Federal income taxes ... ...30,738,44 13,817,89 196,160735 38185,929 29,25,120 ,3, 189,928,2 7,011,591
13. Dividend appropriations:
13-01. On common stock ... 17,280,446 17,168,19 91331,244 103,931,651 17,280,446 17,168,19 91,331,244 103,931,6
13-02. On preferred stobk ........ ... .. .... -. .,318,989 415,94 27,929,300 30,273,811 4,318,989 4,145,941 27,929,300 30,273811
Ratio of income to fixed charges/ (Item 5+6-04)... 2.51 2.50 2.11 1.29 2.74 2.72 2.31 1.39

All Class I Railways Rlass I Ra always Not ip
R6eivership or Trustee p ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS /
Selected Asset and Liability Items Balance at end of August Balance at end of August
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road...................... ...............------ 173,003,063 6139,046,114 $155,953.512 123,088,452 Number ofNumber of Aon
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment... 3............... 17,255,982 175,170,993 299,770,951 161,490,057 ---r t reports rep
19. Investments in stocks, bonds, etc., other than those ,94,6
of affiliated companies (Total, Account 707)........... 6 144 2 2
20. Other unadjusted debits .................................................... 1OAgusmoths 14 906,688,1- 6 312 3 2'160E16
8 months 19147 I 0 12, 31 28,$98,514
21. Cash ...................... ... ........... 918,82 18 960,478,145 8 months 1949 1,825717 53 107,3,365
22. Temporary. cash investments.......-- 80,627,: 1,2#O63. 809,24,39 i -- 8:7,21, 0,64 ,704
23. Special deposits.....-..r.---... --.... ............-- -31 1 0, 8 --121,007,29 161,9a6 7,
24. Loans and bills receivable ...-................ ....1...-- ......8 I.. ONS NET INCOM
25. Traffic and car-service balances-Dr. .47 ,LLS NET INCOME-ALL CLASS LL RAILWAYS DLL.S
26. Net balance receivable from agents and conductors. 127,05,194 1U4,896, 1117,qO 10 23.94 O sLLa0
27. Miscellaneous accounts receivable .28 ,0 8 36,222,08 28,466,61 287 9 0so
28. Materials and supplies.......72 ,10 68,192,0 680,988,173 575017.9l 80C
29. Interest and dividends receivable 1. ,60 21,951, 3 1 5,I44,234 19, 146
30. Aolrued aooouhtsl orecivable 15,389,601 175,~2 45 138,447,701 19,6lg9144
31. Other current assets ...... ......1.. s5 83 33% 6 '27.68.0 7.209.783 060
32. Total current assets (items 21 to 31).. 3,554,057,768 3,844,788,750 3,122,517,874 3,401,958,745 40
40. Funded debt maturing within 6 months ...86,435,030 84,423,993 82,029,859 73,941,474
51. Loans and bills payable / .. .... 5,310,000 11,O5 O ,8 5,310,000 10,685,000 20 -- -- 20
42. Traffic and oar-service balances-Cr. 90141,395 118 408, 02 80,113, 6 o3,0 7,391
4. Audited accounts and wages payable ....8,295,0, 4614169 98,5 361 466,124,48
. Miscellaneous accounts payable.... 166,287,929 11 92 137,000,3- 0
4I. Interest matured unpaid ... -,9 45,525,059 30,778,939 42,21 5,2
4. Dividends matured unpaid ...... .7,73,85 8,230,791 7,8,318 7,955,25
47. Unmatured interest accrued........... .. 69, 5 69,902,398 ,67,230 ,1 -20
4'. Unmatured dividends declared.. 29,1,18 28,10, 29,1,1,1017 ,114
Taxes aoorued --- 605,6-72,68 62,6-6,113' 569,089,294 592,650,345 -40
Other current liabilities --- : 1 256.. ........ 9678 77 .
52. Total current liabilities (items 41 to 51).- 1,844.,930,194 1,910,108,702 1 65.5 357,397 1,734,030,048 -40 ---- I I r -6
53. Analysis of taxes aooredl -O
53o. U. S. Government taxes............ 450,643,806 498,512,179 40,766,44 454,150,094 -8050N0J Jo FM AMAM J J A 8 0 N 0 -
53-02. Other than U. S. Government taxes-...--- 155, -028,802 '-1,11 ,9 18,322,84 I 45 I S J F .1 1946 1947
54. Other unadusted credits..................................... ..... 3 971,1,038 ,787,61 35538,65
54. Other unadjusted credits....9 ,410 033 A 8


2/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended August $128,4i5,602 $101,770,072 26,645,530
6 months ended August 21 6 .412 680,130
12 months ended AUmust 87 231 .
The net inooe shown for August 1946, is after a deduction of $309,352, taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: August
1947, 1.27; August 1946, 1.20; 8 months of 1947, 1.14; 8 months of 1946, 0.73.


/ Includes payments of principal of long-term debt (other than long-term debt
in defauTt)whioh will beoo de du within six months after lose of month of report.
/ Inludes obligations which nature not more than one year after date of issue.
E/ Exoludes reports of 6 roads for the month of August 1947, 4 roads for the
month o uut 1946, 5 roads for the eight months of 1947, and 4 roads for the eight
months of 16, where net inoome (or deficit) was absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include returns of the St. Louis San Fransiooo, which emerged from
trusteeship on January 1, 1947, Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947, and the St. Louis-Southwestern whioh emerged from trustee-
ship on July 24, 1947.
d Decrease, deficit, or other reverse item.




~~C/s3T 4 :~- RC


Subjet to revision


UNIVERSITY OF FLORIDA

1III IIII1111111111llllllll I INTERSTATE CQM
3 1262 08851 2057 BUUBAUOFITRANSomRTB


SELECTED INCOME AND BALANCE-SEET ITEMS O

Compiled from 130 report (Form II
(SWITCHING AND TERMINAL


Inoome Items


All Class I Rat


*34,376,499
66,311,682
586,100,805
174.812.827


9 7,62e ,


1 : 7
-20 man f


$33,088o,356
36,071,116

.210


1,76,622,0321

156,01 6,

an7
606i rP


,at
150,:1
4,

5, I3
OC06P W


IRCE COMMISSION
pOMICS AND STATISUC1


30,212,823
l63,643.279
8,991,092
.002,770


,261



Bi


$28,958,020
32,502,893
551,67:,798,
9 6'g 70


1, 6

36,9013


219,206,214
.42.9.1i96


---~- *1 ____________


3,527,701,128


3 ji,977,629


W14.274.796


3,678,177,225


128.505,658


6,50


46,042,987




1 7091rt10 13


I, li 5 941
#3959


Statement No. M-12l
FEBRUARY 1N7


LASS I STEAM RAILWAYS IN THE UNITED STATES


Sreresentin 134 steam railways*
COMPANIES NOT INCLUDED)


Class I Railways Not in
Receivership or Trusteeship I


For the month oft february the tio month of For the month of february For the two months of
71 ~


I -


UNIV. OF FL LIS.



I Au n. r-


U.S. DEPOOftY'
1111 ~C-


1. Net railway operating income................... .. ...............
2:"'thet income..................-............. .....
3. Total income... .... .... --........:............... -
4. Miscellaneous deductions from income. ......-.............
5 ... Income available tok fixed charges................
6. Fixed charges:
6-01. Rent for leased roads and equipment.......
6-02. Interest deductionsal ..................................
6-03. Other deductions.....-.............. ................
6-04. Total fixed charges........ .........-......
7. Income after fixed charges.............................-
*8. Contingent charges .... ................ ...................................
9. Net income/ ... .............. ................... ........ ..........
10. Depreciation (Way and structures and Equipment)......
11. Amurtilation of defense projects--...--.......--- --------
12. Federal income taxes..............................................
13. dividend appropriations:
13-01. On oommon stock .................... ..... ....
13-02: On preferred stobk_- --......................
Ratio of income to fixed charges;f (Item 5+6-04)


Selected Asset and Liability Items


I *i


17. Expenditures (gross) for additions and betterments-
Road...................--. .... .........
18. Expenditures (gross) for additions and betterments-
Equipment..-...~......... ................ .........-.. -------------
19. Investments in stocks, bonds, etc., other than those
a *., of affiliated companies (Total, Account 707)...........
20. Other unadjusted debits............................................. .....
21- !C s.."........... ...-- -...........- ................-..-......... ........................-------.......
S22..Temporary cash investments-.....................------- .....
23. Special depsits.................................... ....
2.4. Loans and bills receivable........................................
2.Traffic. and car-service balances-Dr. ...-...-.. ..-
27. -isc6laneous accounts receivable ...............-....
28. ltetials and supplies-..-....... ............. ..--.........
29. Interest and dividends receivable.....................
0. A'omedt acoMunts reoeivable..-- ..--......-..- .......-------
31. Other current assets............ ........ .... ......................
32. Total current assets (items 21 to 31).............
110. unded debt maturing within 6 months................-...
-1. Loans and bills payables/-................-.......
42. Traffic and car-service balances-Cr .........- ..
43. Audited accounts and wages payable ..............
I. Miscellaneous accounts pyjable..............---.. .......... .......
Interest matured unpaid..-.............-....... ..-...........
4. Dividends matured unpaid."............-..... ...--
47. Ulnatured interest accrued........................... ................----
4. Unmatured dividends declared... ..-.. .. ...........- ..
A. aruaed aseema payabl-e ,- ...._ .... ...............
h. as~ ...... .......................
.Other current liabilitib~a~.................................
o. Total current liability is litemskl to al I


53 Analysis of taxes eeWed I
5"01. U. .S. Government taxes..... .....
53.02. Otier than U. S. Government taxes ,.
54. Other unadjusted redlts. .


'T Represila accrua1., including the amount in default.
S/or all Olss I Steam Railway ,the net income was as follows:
i" Period : 19476


1- I !L


188.711.514


5 014


.I o* br I '.1- M rAT 4wr 1s,|. 4


1 on11 212


30,46,19
361,D 202


a nM.11ga


Il. tAo ic


L a -~ -


3 months ended February I 138,549,691 d 26.6 .1 165,1,8
S6 months ended February
m onths ended S I l
' The n Income shown for Pdbirury 1946, is after a deduction of 195,847, taken out o *.
operating revenues to create rsere for o laS gradt dLeduoions In dlput.e. A.: ;
S i/ For railways In receivership and trusteship the ratio was as follows I February
1947 0.8; February 1946, 1.19.


134.388.1951


$43,128,444
1,690,540


54,780,905
10,746 t3
26,j '



28,818,1082
1,353,210
21,182,868

19,1,6714

1.47


650,508,9





16 ,92
36,358. 2
a4, 793,224.,
2,856,912


21,500,883


3,879,986
1.68


All Class I Railways


S,170,692



i50,506



,.2123,620
6,.490,601
3633,019
7,70ol,98
2,718045
45,522.583

22,303),898
5,347,197
1.67


$116,421.397


5,027,380
138,630,374
21,472,790
59,g6,9241
81,233,081
57,397,293


56,497,936
47,

20,425,306
6,479,147
1.71


lasi I Railwas Not in'
Rfeivership or trusteeship


$38,478,6414
13,617,566

2,976,399
49,119,811
10,303,j29
20, 2,268
0 822
13:13

3,238,002
15,174;4,80
26,019,187
1,194,992
. 20,109,824

19,401,271
2,764,928
1.60


$43,114,785
12,112,179
55,227,60
2,301,833
52,925,831

23,~04,193
102,708

,856;912
20,597,132
25,432,240
,o666
19,27~,572

17,522,679
3,879,986
1.80


*91,158,356


6,189,169
112,447.703
20,1S4:,733
40,7; ,237
50,92

44, 471,14
5.,170,157
2,399,
42,91,75

22,303,898
5,347,197
1.83


$100,566,498


4,870,539
120,994,180
20,185,648
46, 5,012
67,



50,920,85
43, .6:844

0,1425,306
6,1479,147
1.80


ANALYSIS OF NET INCOM--ALL CLASS I RAILWAYS /


Period


February 194
February 1946
2 months 1947
2 months 1946


Railways Reporting a
Net Income


umber ofl Aount
reports Amount


86 32,o9,271
87 71,043,838
S 75,180,601


Railways Reporting a
Net Deficit


umber of t
reports Amount


40 $17,713,25
44 15887,91
9 27,10,81
4o 23,633,66i


MILLIONS NET INCOME-ALL GLASS I RAILWAYS. M,.LuoN
OF DOLLARS OF DOLLARS
90 90
0 -680



40 -40

o20 ---- --- 20

0 -- ---- 0--







-an ------II l G -anI
O; - ..- I .- .------ o
-20 -t~t-----l------I-JL-----------------o





-6o ---------- f l -LU -- ,,----- --,-_.-


JF r


SJ JAIsONDJ FMAMJ JAS
1945 1946


4/ Inoluee payente of principal of long-term debt (other than long-trm debt
in fault) which vill become due within six months after cloee of month of report.
SIncludes obligations which mature not more than one year after date of issue.
S xoludes reports of 4 roads for the month of February 1947 and 1946, and 4
roV for the 2 months of 1947 and 1946, where net income (or deficit) was absorbed by
the controlling company.
e oludes Toled Po, Peoria and Western Railroad, Filed no report.
I# figures include returns of the Chioagp, Indianapolis and Louieville Ry. Co.
which emerged from trusteeship on ay 1, 1946, Seaboard Air Line which emerged from
receivership on August 1, 1946, and St. Louis Ban Franoisco, whiqh emerged from
trusteeship on January 1, 1947.
1 Deorease or deficit


jun4'47


Balance at end of February Banoe at end of February
1947 1946 1947 | 1946


-~- ~ ~ I -


0 JFMAM J AI SON
1947


M13

:052


v -1 i -- i m -- -


-r-


I


-r-


--


"


-[


, e


-mL M -m


I


I


~u ----- -------- ---------- ~------ -- --~--r ---- -----: ---------- ------ -- --- -- -


. .


- i .


i




x ;
r





~c /sse 3cp = ~e lq~p:~


UNIVERSITY OF FLORIDA

1111111 1111 111111 1 N1111111111111111
3 1262 088511851 INTERSTATE COMMERCE COMMISSION
BUREAU or TAws~a*4CNOaCS AND STATWICS


StotemnMt No. M-12
APRIL 17


UNIV. OF FL LIB.
DOCUMENTS DEPT.


U.S. DEPOT
U.S. DEPOIPTOY I


I/Represents accruals, including the amount in default.
2For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Inoreae
3 months ended April 91,39011
6 months ended April 902:
12 months ended April77 -1
The net income shown for Apri 1946, is after a deduction of (131,808, taken out of0,:"
operating revenues to create reserves for land grant deductions in, dispute.
3/ For railways in receivership and trusteeship the ratio was as follow: April
1947, 1.33; April 1946, 0.70; 4 months of 1947, 1.18; 4 months of 1946, 0.76.


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 one year after date of issue.
/ Exoludes reports of 4 roads for the month of April 1947 and 1946, and 4 roads
for the 4 months of 1947 and 1946, where net income (or deficit) was absorbed by the
controlling company.
Exoludes Toledo, Peoria and Western Railroad.
# Figures include returns of the Chicago, Indianapolis and Louisville Ry. Co.
which emerged from trusteeship on May 1, 1946; Seaboard Air Line which emerged from
receivership on August 1, 1946; St. Louis San Francisco, which emerged from trustee-
ship on January 1, 1947, and Denver and Rio Grande Western R.R. Co., which emerged
from trusteeship on April 11, 1947.
A Decrease, deficit, or other reverse item.


Subject to revision


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

Compiled from 128 rep ortsi(Fos IBS) representing 132 steam railways *
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All CI I a0ilw Class I Railways Not in
_____All Cls, always Receivership or Trusteeship #
Income Items
For the month of April For the four months of For the month of April For the four months of
1947 1946 4 1947 1946 1947 1946 1947 1946
1. Net railway operating income.................................. 58,1109,866 0,725, 81W 232,505,537 4121, 90,723 ,508,21 7,366,656 209310,681 05,716,423
2. Other income -_.......................................... 17,265,19 14703 ,9, 1 :2,193 16,21,959 13,213,552 56,6,6 51,568,556
3. Total income ...... .... 675,35 2 3, 657,68 1,911,1 67, 726,20 20,580,8 265, 6763 1 5 31 979
4. Miscellaneous deductions from income0- .-...--.....0--.- -.-.- 2,2 076 2,9 18 9,620,62 3,2:3,4 2,149,3i 12, 8,60 :4 9,309,470
5. Income available for fixed charges.-..- 7..... 22,796,930 28097,650 167,2914,254 6, ,832 18430,3 253,05776 148,0
6. Fixed charges:
6-01. Rent for leased roads and equipment ............. 10,286,466 9,741,56 1 672 1 7,6 ,279 ,9073 25 9,2 ,282 41, 747 3851,
6-02. Interest deductions -/.-..----...-...-....- -- 25,795o089 29 141 23;7J424 81 88 94 718
6-03. Other deductions .....-..-... .... .... 1 4 .9 1l- ...73,078 128,191 106518 56,3
6-04. Total fixed charges.. .- 3220,79 3,3526,155, 7 3 5 3... 224 123, 6 130,48: 2
7. Income after fixed charges.............. ... 3 33915101 1,529 50 34& : 16 170528
8. Contingent charges ........ .. 3, ,, 13,702,338 12,298,25 3, 79,89 3, ,62 13,702,338 12, ,
9. Net income 2/ ...... ---- ..... ...... ....... 32,579501 1957937 20,212,763 d 7 77 30,635,583 1 7 116, 90 48 5,226:633
10. Depreciation (Way and structures and Equipment) .- 2 9,296,9o01 28,83,929 11 13,54,879 26,726,167 25,929,715 06,095,15 103o,216,670
11. Amortiation of defense projects....................... 184 9 23 1,2 397 2 024 3
12. Federal income taxes................................... 21981180 d 67 9 121 0 17,2 7 21,0o;,265 d 7.37.36 92;66,6 l2,6;2,
13. Dividend appropriations:
13-01. On common stock ................. ...... 3,52,627 3,210,60 37,509,121 44,863,707 3,052,627 3,210,609 37509,121 44,863,707
13-02. On preferred stobk............................ 3,589,507 789,133 11,509,273 15,57,14d 3,589,507 789,133 1 ,509,273 15,57
Ratio of income to fixed charges_/ (Item 5+6-04)..... 2.00 0.58 1.91 1.07 2.12 0.56 2.05 1.13

All Class I Railways lass I Railways Not in
soeivership or Trusteeship#
Selected Asset and Liability Items Balance at ed of ApANALYSIS OF NET INCO -ALL CLASS I RAILAYS
Balance at end of April Balance at end of April
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road71577371 5,73,35 7551 56 5323 uber ... ......................................................................of $7Nu577Numb71 of5,673,315 62,756,95,323 r of umer of
18. Expenditures (gross) for additions and betterments- Amount amount
Equipment.. ............... 141,672,745 68,389,097 132,575,69 59,957,919 reports reports
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707)........... 575,00,998 586,98,851 558,016,036 570,19 61 Arl 19 1077531 06.1
20. Other unadjusted debits...................................................................... 175 10 1 .290 190.2 7 nth 19,3 o 68
21. Cash-....- ...... ....-........ .... ......................... 973,154,746 1,04 40 866 ,71,046 911,1587 4 months 196 63 78,981.817 61 79,750,564
23. Special deposits ................................ .... ............. 261 69' 16 66 :2 1 020% 562, 77
S Loans and bills .receivable-.................. 246................... 1 ,2 55-6 ILIONS NET INCOME-ALL CLASS I RAILWAYS oN
25. Traffic and car-service balances-Dr. -... 50,1143,37 ,61;,ig ;i 2,i 9 32, 431o07 OF DOLLARS Of DOLLARS
26. Net balance receivable from agents and conductors ..... 127,307,792 9,72,90 16,502892 85,607,381 90 ----- -90
27. Miscellaneous accounts receivable.... .................... 289,612,727 387,32222, 2 11, 1,6977 4132e 90846 80 3s0
28. Materials and supplies.... ...... .............. 720,591,225 8369,4 6646:06 5 ,2356404
29. Interest and dividends receivable. 16,-9_,74 2.65 15008:07 4 6399
jO. Accrued accounts receivable...................... 155 1 1 881 177 710 5 6 \
31. Other current assets ....................... 39: 3 :68 J: : 14777.o
32. Total current assets (items 21 to31)... ... 3.521.171.958 4. 101425 568 16 30 33.86q9.T1 40 ---340
40. Funded debt maturing within 6 months/. 1.. 81.706.897 124.884.,75 .6118646.67
41. Loans and bills payable /-..-....-----. .. ...1 .......... 4, 00 10 8 '000 20 -20
42. Traffic and car-service balances-Cr. .............. ...... R9 3 1.08: 78:39:77 9656 132
43. Audited accounts and wages payable. 4o60,860,239 40,446, 892,829 438585172
SMiscellaneous accounts payable...... ........_ 217,059,71 1 897, ,225,213 137, 89386
45. Interest matured unpaid ...-. 6062,62 6,360,:82 56,19,267 57 6162386
45. Dividends matured unpaid ............ .... ............. 5,29,56 020,027 10,568,261
a7. Unmatured interest accrued ........ .885. 9,9 5 17,286 0
. Unmatured dividends declared...... 1 201 1,89850201 08
4. Accrued accounts payable ... ... ... 155,393,300 278,682,Q7 1360037 i ll24 108:,383 l -40.
.Taxes accrued ... 95,57 o300 693,3 7 5,83,271 5 360,511-40
.Other current liabilities.. 89,437,185 19 8708878 4395547
52. Total current liabilities (items 41 to 51) 1,653,055.87 2.O39.97537: .200.868 1.798.350. 42 -60 60
53 Analysis of taxes accrued: o H 1 -80
53-0 U.S. Government taxes ...... ... 37 9,,7' i 095,85 485,268,885 F MA Jo oN 0 J F o AIJA.ON .1 A ASoND
S53-02. Other than U. S. Government taxes .............. .. 115,865,296 ,707, 109,091,626 1945 1946 1947
54. Other unadjusted credit ...........333,118,939 4:..,0099.8' 290,087;,18 348,210,784


Jul18'47





-)/42


Subject to revision


UNIVERSITY OF FLORIDA

3111111111 11111111111111111 111111 | 11111 i : 1111 .c ^ ^ c
3126208851 2040 IN T STATE COM )ERCE COMMISSION
3 126 BUREAU OF TRANSPOR 3COtOMlICS AND STATISTICS


Apirfa2


Statement No. M-125
JANUARY 147


UNIV. OF FL LIB.
DOCUMENTS DEPT,

IfA t inn


U.S. DEPOMTORY


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

Compiled from 130 reports (Form IBS) representing 134 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

All Clas I aClass I Railways Not in
Al Class I Riays Receivership or Trusteeship#
Income Items For the month of January For the month of January

1917 19116 I_____ ___ 19L7 1946
1 Net rl-way operating income *57,717,747 S65,91?,197 -52 55,?12 157,4,1.713
2. Otrer income 1,8E1,253 1l,219,370 1,753,?743 13,15,342
3 Thtal income 72,599,nn0 VW132,367 66,10,:46 70,637,055
4. Miscellaneous deductions from income........ .. 3,21,579 2,653,685 2 963,212,771 2,568,705
5. Income available for fixed charges .. 69,317,421 77,478,8 62,895,915 68,o6,350
6. Fixed charges:
6-01. Rent for leased roads and equipment 10,63,40j 14,89g,90 10,182,494 14,220,762
6-02. Interest deductions l/.... -....... ... .. 26,504,307 29,719,097 20,469,970 23,570,371
6-03. Other deductions...- ---.... 137,591 116,887 126,.19 102,409
6-04. Total fixed charges......-- 37,245,328 i4,72,592 30,778,633 37,893,"42
7. Income after fixed charges- ..... ....---. 32,072,093 ,7 5 ,790 32,117,282 30,174,808
8. Contingent charges .--- 3.- -. ---- ,250,099 2,993,13,250,099 2,993,441
9. Net income2/.-...- .------------- 28,821,9944 29,752,349 268,67,183 27,181,367
10. Depreciation (Way and structures and Equipment)... 28,882,996 24,285a 80 26,120,970 25,488,616
11. Amortization.of defense projects.....-------------.. 1,364,835 482,875 1,204,99 409,637
12. Federal income taxes....... ..................... ..... / 24,631,799 25,904,35 23,073,634 23,988,272
13. Dividend appropriations:
13-01. On common stock -.... 2... ...... 902,627 2,90227 2,97 02,627 2,902,627
13-02. On preferred stok.... ....... ...... 2582,269 2,599,161 2,52,29 2,599,161
Ratio of income to fixed charges/ (Item 5+6-04)... 1.86 1.73 2.04 1. 0

All Class I Railways Class I Ra-ais E NOt In
All as I Ralways Receivership or Tru.teeship
....ANALYSIS OF NET INCOME--ALL CLASS I HAILWAYS6/
Selected Asset and Liability Items Balance at en of January 'Balance at end of January
1947 1946 19"7 9l4 __
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road ..,61.. .6$........18,637,8980 $18,317,381 $16,410,169 816,075,335 Number of Number of
18. Expenditures (gross) for additions and betterments- reports Amount reporAmount
Equipment....................... ............ 33,175,303 25,255,6442 31,5-9,152 22,334,814 reports reports
19. Investments in stocks, bonds, etc., other than those January 1947 86 $39,318,381 38 $10,496,387
of affiliated companies (Total, Account 707) 580,209,251 566,709,589 563,100,953 549,833,265
20. Other unadjusted debits.... 170,470,556 167,697,502 101,218248 90,12,82 Jonusry 1946 87 141,363,071 39 11,610,722
21. Cash .......... ............................... .... ....930 ,00,102 1,03 ,Sg9,182 22?,6'1,9 9 o? o',0 ?4
22. Temporary cash investments.................. .. 1,047,340,900 1,57,?19.356 ?,,34'.,?3 ,?.l.,171,1 3
23. Special deposits..............- 1665,760,96a 16n,793,905 15o0,01,17 0o,757,6?'
24. Loans and bills receivable.................. .3- 6.985 457.543S 3,3.9 4, 30 s, m-ilo.soNs NET INCOME-ALL CLASS I RAILWAYS .ILLONS
25. Traffic and car-service balances-Dr.. ......... 4,9'.5,81 43,~0,o4 4il,0'?, 196 r OLLA OF OLLS
. Net balance receivable from agents and conductors .- 126, ,7; l01,.S,90 11.,0,00? 91, 5i,14; 90 0
231 21,1,c 1 .C 0 90 I ---'-C-
27. Miscellaneous accounts receivable ....329,443 3,Ei,,iO 2eA'31,1,'.'09 7. '0,' I ______I--o____
28. Materials and supplies--. ..-... -- 675,-57,"l7 l 0,001,>17 604,73=,7298 5',ioLh
29. Interest and dividends receivable ....-- .... 13,9s,61 2,039,799 11,092,?31 21, ,?
0. .Accrued accounts receivable .. ... 172,015,406 266,315,7 151,9.',?'i ?'7,0,' i, ____
1. Other current assets. .. -57.54O.92 .53.15 15 50.2..5514 ,, Ii 60--
32. Total current assets (items 21 to 31).......... 3,531.139.262 4.325.906,964 1.3034.407.329 3.661.407,748 40 -- -- 40
40. Funded debt- maturing within 6 months/ 189.044.433 140.012.125 174.489.968 134.805.655
41. Loans and bills payableV/. 9,385,000 10,354,058 5,900,000 2,500,000o 20 -- 20
42. Traffic and car-service balances-Cr 100,181,290 141,975.709 ; S' 3,i,2 1.P0,9?1,AL I
43. Audited accounts ana wages payable 476,615,108 462,359.539 '31,355,072 16,311,707 -
SMiscellaneous accounts payaiae 186,09,362 168, 151,38,5 131,091,??
4. Interest matured unpaid 52614,690 51,7,0 6,T.35 7,1i6,99
Dividend maurea unpaid 7,551,517 ,59,585 7,'5,90 7 31
4 Unmalured interest accrued 68,34,318., 67,253,6 6. 7,37, 8 .6 57, -20 -20
4. Unmatured dividends declared 19,795,7 19,738,988 19,795,77 19,7 S E
49.i Accrued accounts payable 161, ,79689 2 19,971,6 1.2,5-,- 17, 6, 56 --
Taxes accrued 432,919,K2 0o6,57,513 397,891,3 67?,47,92
SOther currently abilities. 100.088.288 106.488.78 91.6V6.097 ,9!.1 ,I0
52., Total current abilaibties (items 41 to 51) 1.615.416.570 o 2052.,60.k35 1 4416.479.719 1 1,,1,17.75 -60- --- -- -60
53 Analysis or tazese aorueds -80 I I I I I I I I -80
53-01 U. S. Government taxes 320,,4256 6?4,79 ,758 297,403,?15 570,9?5,050 J 'F M J A J A ON DJ F MAM J J S O M r A.M J J OA N 0
53-02 Other than U. S. Government taxes 112, 4,186 1357,759 100,288,131 107, 7: ? 1945 1946 1947
54 Other unadjusted credits ......... 365,5 T,64 44i5,Z4,619 13,467,12 352,7,


I Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net %noome was as follows
Period 1947. 1946. Inopease
3 months ended January $163.511.960 a 13,875,386 *177,387
6 months ended January 313,232,127 76046,429
12 months ended Januiry 287,61.11 4" 33.1430.00 4 145,5,-
,The net income showq for January 1946, 14 after a deduction of 295,"09, takenaot bf
ope~tlng revenues to oreete reervep tfo land pgant deduetione in dispute.
3/ For rallways In receivership and trusteelihp the ratio wnas al follows: 'JanuarY
1947, 0.99; January 1946, 1.38.


k/ Inoludes payments of principal of long-term debt (other thun long-term debt
- in Vefiult) hitlh will become diue within six months after close of month of report.
S Includes obligations i oh mature not more than one year after date of Issue.
/ Excludes reports or 4 road for :he mnnth of January 1947 and 1146, where net
income or deficit WRB eDorbed by the controlling company. '
xoludes Toledo, Peorit and Western Railroad. Filed no report.
... FiPguree include returns of the Chicago, IndisnApolls and Louisville Ry. Co.
which emerged from trusteeship on May 1, 196, Seaboard Air Line which emerged from
weoeiwerehil on August 1, 194, and St. Louis San Franeisco, which emerged from
trzsteesh u on January 1. 1947.
a Inoludes credits covering refunds of Federal Inoome Taxes in the amount of
$ 61,200 for January 1947, ana $1,618,681 for January 1946.
Deorease or deficit






be sr34 9.4,4


Subject to revision


LIN".E -QIT j FLO RIDA I :- '

II 41 -IIH Ill j II! 111 IA Tll 1 II Jrll I l ii 1l111 IC
3 1262 08851 1877 INTERSTATE 00lT- COMMISSION
.Va P B/'at ..'lJ a o AND TrATUlCB

SELECTED INCOME AND BALANCE-SHPT J q CSS I STEAM RAILWAYS IN THE UNITED STATES

Compiled from 126 reports (rm IBS) representing 130 steam railways *
(SWITCHING AND TERVI&AL COMPANIES NOT INCLUDED)


UNIV. OFFL LIIL
DOCUMENTS DEPT. ,




U.S. DEPOgiTORY




























-."' -' -





i A. -%I


Class I Railways Not in
AUL. O -L.aw- 7 Receivership or Trusteeship #
Income Items o o -r
nco For the month of June' For t e slx months of For the month of sune For the asx months of
S ______1947 -1- f15j 9 -1946 1947 1946 1947 1946
1. Net railway operating income20 8 837 60, 48t12,1 15~ ,762 1 5,623,909 334,658,280 336,413,27 ,135, 454296g
2. Other income 2 23 22 121 140 2075295 8
3. Total income 8 ,325 21 59,9 207,49 55,41,225 427,09722 ,64,44

5. Income available for fixed charges 78,729.775 57,595,9 -1' 4 241,632 232,620,296 73,555,941 53,09,o069 407,187.77 207,577,683
6. Fixed charges: I,.
6-01. Rent for leased roads and equipment 10,560 10 1 .64,63,8 ,6 66 0,43,885 210,055,470 61,815 ,02 54,9O,080
6-02. Interest deductions / 25,65,86 28 55, 16,2.,1 20,20,92 22,964266 122,278,108 142650,36
6-03. Other deductions 723.56 132,137 07 835 790 558 6353286
6-04. 'otal fixed charges 2 01, 35, 3 1 184,a7,6 198,2,7
8. Contingent charges ,63 3,07,2 a20, l ., 3,50,3 07 2 21,3,o 46i
9. Net income/ 38,402,391 15,186,952 205,016,06 a 21.360.770 39,130,544 16,896,996 201,094,846 9.62.93
10. Depreciation (Way and structures and, Equipnt 29,478 2 ,2 7255,2 1727,00,04 25,75, 160,2,9 155,51,964
11. Amortization of defense projects............ ,35,617 21,37 118,92 3 6 1,23472: 7 36 9 34190
12. Federal income taxes .20,541,355 3.134l768 l43,911,89 s 12,i6,5. 20,59 75 3, 474,87 138 a5,42 134286
13.. Dividend appropriations: .
i}-p On common stoch s62 292 16, i1,p a.11Z151.6.222, ,5
13-2. On preferred stock ,56, ,6 32B ,25,95 :.- 3, 063 11,562,292 16,652,422 70,15,95 23 83,63,o63
13-02 On preferred stok 5.3 I : 25;19,795 5;43860 5;91;4 279
Ratio of income to fixed charges/ (Item 5+6-041 2.15 1. 2.03 0.99 2.39 1.60 2.20 1.05

All Class I Railways 'Class I Railways Not in
All Class I Railways Coelvership or Trusteeship #
Slc st ad -ANALYSIS OF NET INCOME-ALL CLASS I, RAILWAYS/
Selected Asset and Liability Items ANALYsn atOend of JunI Balance at nd of JunWAYS
Balance at end of June Balance at qnd of June
_________- ____1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross), for additions and betterments- Period Net Income Net Deficit
Road.1...11.. ..... 9,814,093 3100,759.524 $105,520,21 $38,273,868 umber ofNmber
18. Expenditures (gross) for additions dnd betterments- umberAmount beAmount
Equipment 231,759,631 117,760,800 217,336,895 105,971,179 reports reports
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total. Account 707) 578 55638 6 41 7 6 1, June 194 84 $46, 8 37
20. Other unadjusted debits 5.55. June 1946 6 S
21 Cash .. 4 o,4,21 months 14 1 3 1 1017 1 3:051 872
22. Temporary cash investments 6, 25., 17 3
23. Special deposits ... 174, 18 5, 0
Loans and bLla receivable _.
24. LoTraffic and bar-service balances-Dr 1426, 1 .7 4M0,584;~ 3 MIo NET INCOME-ALL CLASS I RAILWAYS MuLoNs
22. Trafficandb:ar-seorv'icebarlanceo-Dr'3, OF er SOLLANs O? DOLLARS
. Net balance receivable from agents and conductors 123,65067 108,123,482 l.,67,706 98, 550,4 O 90
27. Miscellaneous accounts receivable 289509N3 35,011,06 ,061,869 30r4990',10
28. Materials and supplies 734253557 11,0,772 70,963,93 554,923,066 8
29. Interest and dividends receivable 6,821, ,701 1, 0 8, 6
3 carued aoobunte roeclable 14 2 189 8 12 172.,,7 74 f
31. other current assets A 6493125 ', 897 3 26,7867
32. Total current assets (items 21 to 311 3,513,587,995J .7776.788.636 .SQ.61,756,717 3.271.674.755 __
4OCr 40
40 tunded debt maturing within 6 months/ 144.N33I.3 w .299.i 138.855,443 99.492.067
41 Loans and bills payable5. .4,275,60 1 5 4,275, 0 10,65,000 o20 -
42. Traffic and car-service.balances-Cr 86,03 ? 3,9 01, 50 6
43. Audited accounts and ages payable 5, 4 4,766, 420 ,99,281
-Miscellaneous accounts payable 29,B 150,964 3 148 144 1 9 *3 ---3-- 0o
45. Interest matured unpaid. 6 0,201 7.053,997
-4 Dividends matured unpaid 927, 651907 ,6,o
47 Unmatured interest accrued 68 6 -20 --- --o
41 Unmatured dividend declared. 16 2,72,10,7 |
t Aborue ao i 160,512,957 r i |0,W, 16 -,668 | -
u s4 2. 511077 5 .&1 '*34,703, P2L,0 923----
ether current liabilitiee 2661 9 ;:98
2. Total current. 14aAtites (Items 41 to 51). 1.7 r.5. .l.i 4 %_2.H93.W 1.636.15.31l -60 --- -
53. Analysis riftade acbneSdl.- '. L -60..- l00
3-O 1.Uex. Government taxes. 412,57,352Q1 W V 402 4,9O MA SOS A
53-02 OtNst tian U. S. Government taxes 1. 10 ia,; la5213 '661,78 12,O1 05 1945 1946 1947
54. Other unadjusted credits .. 353,637,8 1,1 ,252,46 342,150,53


. Represents accruals. ncludiig the amount In default.
For all Cleaq I,Steam Railways the net income was as follows:


; "Pad 7 1916 i n .4. r
3 months 0nded. June 7118,09,l77 a t39.484.466 t5 '6ib
.6 months a ded .June., 205,016 i 22
12 months ended June :14.912.o S
"The net Incone shown for June 1946, is after a desndtion of 360 589 ta en out' r''
operating revenues to create reserves for land grant deductions In dispute' '
/ or ralllway in receliverh p and tru fteeshl the ratio was ~s follows June
1947, 0.88; June 1916, 0.72; 6 months of 1947, .11%; 6 months of 1946, 0.68.


SIncludes payments of principal of long-term debt (other than long-tern debt
in fault) whih will become due within six months after close of month of report.
Includes obligations which mature not more than one year after date of issue.
/ Excludes reports of 5 roads for the month of June and 6 months of 1947 and 4
roR4 for the month of June and 6 months of 1946, were net income (or deficit) was
absorbed by the oontrolling company.
x* "xludes Toledo, Peoria and Western Railroad. ."
SPFigures include returns of the Seaboard Air Line which emerged front receiver-
ship on August 1 1946; St. Louis San Francisco, which emerged from trusteeseii on
January I 1947 and Denver and Rio Orande Western R.R. Co., which emerged rrqm
trusteeship on April 11, 1947.
&, Decrease, deficit, or other reverse item.


20Sep 47


Statement No. M-125
JUNE 1147


-- "--.


U-


.~ "\


I
Y I
























UNIV. OF FL LIB.


Du
(l an nn (nnno


U.S. DEPO4TORY


7:e/Sr ,34.- 947//


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

Compiled from 127 reports (Form lS) representing 131 steam railways
(SWITCHING AND TERMINAL, COMPANIES NOT INCLUDED)

All Class I Railways Class I Railways Not in
Al Class I Railways Receivership or Trusteeship#
Income Items For the month of October For the ten months of For the month of October For the ten months of

1947 1946 1947 1946 1947 196 1947 1946


Net railway operating income..
Other income
Total income
Miscellaneous deductions from income
Income available for fixed charges
Fixed charges:
6-01. Rent for leased roads and equipment
6-02. Interest deductions !...
6-03. Other deductions
6-04. Total fixed charges...
Income after fixed charges.... .
Contingent charges-
Net income 2/.
Depreciation (Way and structures and Equipment).
Amortization of defense projects------------------....
Federal income taxes..... .....
Dividend appropriations:
13-01. On common stock.
13-02. On preferred stobk......
Ratio of income to fixed charges / (Item 5-6-04)


Selected Asset and Liability Items


17. Expenditures (gross) for additions and betterments-
Road. ....... ......................... .............................. ..........
18. Expenditures (gross) for additions and betterments-
E qu ipm en t.. ... ... .. ............. ...........................................
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707)...........
20. Other unadjusted debits.. .... .. ........
21. Cash ..... ...
22. Temporary cash investments.
23. Special deposits .. ...... .....
2 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. Aoormed acounts receivable
31. Other current assets
32. Total current assets (items 21 to 31) ...


40. Funded debt maturing within 6 months4.
41. Loans and bills payable 5/... ......
42. Traffic and car-service balances-Cr.
4. Audited accounts and wages payable
Miscellaneous accounts payable
42. Interest matured unpaid
46. Dividends matured unpaid
47. Unmatured interest accrued
1g. Unmatured dividends declared
49. Accrued accounts payable
. Taxes accrued
SOther current liabilities.
52. Total current liabilities (items 41 to 51)
53 Analysis of tmxes acdrued;
53-01CU.. S. Government taxes
53-02. Other than U. S. Government taxes
54. Other unadjusted credits.....


176,433,363
93,343,14o0

89:39,:219
11,319,758
25,100,029
36,7064 7
52,:6o99
4,903,591
29,341,103


12,551,813
7,915,305
2.44


1j,6:3,3'7
101,8g8,01i

99,:59,914
10,243,455
27,375,392
123,.05

3,510,09
5,20o7,153
28,423,R4
1,083,U1
8,232,599

3,28,360
,173,905
2.64


All Class I Railways


(A14,032,242
.,281,215
79 4313,457
35,707,oo6



:3,30R3 78

395.302 ,W66
293,185,453
29,249,029

113,59,32.09
37,033,8 43
2.09


051,952,300
605, 143,041
24 ,36.8475
580:774:565




31,509,857
162,931,287
284,313,754
52,216:948

122,921,938
36,846,900
1.50


#73,1,4,168
1,126,856
89,2241,024
3,985,625
85,255,399


1,351,524


49;451212


32,094, 20

12,551,813
7,915,305
2.67


$80,249,270
14,123,516
94,372,786



9,982,116
23,124, 898
109,287
33,212,301
58,629,320
3,510,1409
55,118,911
26,46,819
J74,372
8,813,109

,828,36o
,173,905
2.77


$595,058,013
151,669,719
746,727,732
34,988,144
711,739,588

213'4
316,85o0,41
394889,174
5,010,18P
359,878,994
274,340.730
12,43o,43
241,493,962

113,559,382
37:033,B43
2.25


L- I.)-- L _____________ I. ____________


Class I Railways Not in
Receivership or Trusteeship#


Balance at end of October Salance at end of October


6230,192,675
425,o10,637

-M =~2


972,906,126
1,096,297, 2
1l43,225,3?
12,31 ,irk


72,512,099
19:i
177,
37.5i


3.630.975.159
98.97'.9O04


4,495,000
90,713,179
515,01,4711
22,502,21i

68902,965
2~:,717,06
6P7:765 237
11 05.221


$181,745,390
24o,8o4,684
581,204,261
175.617.647


1,016,188,390
1,201,562,071
195,' 72
1.2 38,8514
58,878,713
123,581,109


16: 155,689
2993 X9t


1 7 77- 2 I *I


q4. 970.075


63:209130
186,586,10
5889 43,614
110.752.715


$211,837,581
103,166,957
l1:4W4:6


908,263,439
81945,921
131,292,909



68,:31t9;

308 :


3.264.726.539


',5,000

:12019:6
2589,8
5877 5
717,4 6
2:219,615
1,527,931
2.00 87


i # I a I i p 1I


.l n 7 9q7.9


$163,497,079
225,079,661
569,554,035
113ir,35499


945,322,195
1,060,356,029
171,220,26
336., 4
51, 550,33J
A9,1 2,317
605,360331
19,579,0
1j 55,,688
2.091.327
3,419.537.612
aT.noR-XPi


,185,
95,102, 5
158 ,922


17:1 615
11:,6 9,4
o106 97


, 7 7 i t
i ,


530,570,288 446559,737
137,194,9 141,6837,87
330,387,882 393,357, '4


L *


I/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended October $118,25,696 1, .9.51
6 months ended October 1 3,0,03
12 months ended October 5, 1 ,0 2 3
The net income shown for October 1946, is after a deduction of $794,133, taken out of
operating revenues to create reserves for land grant deductions in dispute.
,/ For railways in receivership and trusteeship, the ratio was as follows October
1974, 0.88; October 1946, 1.68; 10 months of 1947, 1.01; 10 months of 1946, 0.91.


0,099,20355
296:2149:155


415,017,75
129,195,1
355,569,961


UNIVERSITY OF FLORIDA

Subject to revision 3 1 08IIIIIII8II5IIII1 1
Subject to revision 3 1262 08851 1653


Statement No. M-125

OCTOBER 1947


(45.622,652
1 5,305,612
560,928,264
23,771,223
537,154,041
9X 526,.616
1:081:654
199,086;3
6l,60
167,147b512
265,424,038
501,501203

122, 921,938
36,8:16,900
1.59


ANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/


Period


October 1947
October 1946
10 months 1947
10 months 1946


Railways Reporting a
Net Income
Number of Amount
reports


92 (54,195,706
92 60,832,935
90 407,125,837
73 259,1148,0


Railways Reporting a
Net Deficit
Number of Amount
reports Amount


reports I


31 (5,292,115
31 2,625,792
S96,219759


MILLIONS NET INCOME-ALL CLASS I RAILWAYS
Of DOLLARS OF DOLLARS

o |80







__0






*o
40-0 T- 0------- -------
JFo -- --- JJ - - -- --J-J---0 o

-to -- -- -- *- -- -- - -- -- -- --




J .FMAMJ J.As ONO FMAMJ JASoN J FMAM J JASoNO


I/ noludes 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.
S Includes obligations which mature not more than one year after date of issue.
i Excludes reports for 4 roads for the month of October 1947 and 1946, 4 roads
for the n months of 1947, and 5 roads for the ten months of 1946, where net income (or
deficit) was absorbed by the controlling company.
# Figures include returns of the St. Louis San Francisco, which emerged from
trusteeship on January 1, 1947;,Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947, and the New York, New Haven, and Hartford, which emerged from trusteeship
on September 18, 1947.
d Deorease, deficit, or other reverse item.


291an'48


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


i '-~---


" I' -


-11


-I-


I i


-I-


ZWAZd' ZLj ;-, .0,.) f1 0 v


1 941 836 953


1842837"/06


1 687 245 387


1945


1946


1947






~;-C(St, ~s Y _)~\a-~~'Qtr


UNIVERSITY OF FLORIDA

INTER STATE CO* ERCE COMMISSION
3 1262 08851 1844 BUREAU oF TRASPOo OMICS AND STATISrIC

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

Compiled from 130 reports (Form IBS) representing 134 steam railways*
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


UNIV. OF FL LIB

UOUM5ETR' rET
t it nnc

^- ----- |eo~T


All Class I ailw Class I Railways Not in
SClass I Rilways Receivership or Trusteeship #
Income Items
Income Items For the month of March For the three months of For the month of March For the three months of
1947 1946 1947 1946 1947 1946 1947 1946
1. Net railway operating income.. $72,781,810 d t.702.870 .7174,095,168 $110,718,525 $65170, 364 d 3.326,787 $156,471,386 $97,239,710
2. Other income.......... 1160,037 14 ,839,039 41,138,406 12, 50,097 35Sb,5 39,984,616 38,254,490
3. Total income... ... 86,941,847 199,74 2179,207 151,856,91 77,76,461 9,629,78 196,56,002 135,4,200
4. Miscellaneous deductions from income.. .... ... ,245,235 2,356,206 9.564,625 7,383.587 3,175, 05 2,288,602 9,364,578 7.159,141
5. Income available for fixed charges .. 83,69,612 5,842968 208369,582 144,473,344 74,501,056 7,34,876 187,091,424 128,335,59
6. Fixed charges:
6-01. Rent for leased roads and equipment ...... 11,004,423 6,54,905 32,354,186 28,021,697 10,592,385 6,026,342 31,078,119 26,211,992
6-02. Interest deductions / ..... ...... 26,198, 29,699, 78 08 89,226,597 20,170,566 23,456,069 0,919,801 70,431,081
6-03. Other deductions .............. 16 91 351,281 125,119 103,166 376,110 307,834
6-04. Total fixed charges......... 37,39 1 6,66,9 111,745985 117,599,575 3,888,070 29,55577 92,37M,030 96,950,907
7. Income after fixed charges....... -. 46,357, 11 d 30 523 526 96,623,5~ 7 26,873,769 ,43612,986 22 4 01 94,717,394 31,384,152
8. Contingent charges 3.......... ...............210, 68 2 ,700, 68 8,750 073 3 210, 68 8 72 9,700:,68 8, 50,073
9. Net income 2/ .... .... ...... --------,146,94- a 86,922,629 18,13-696 40,402,618 d .2 : 85,016,426 22,634,079
10. Depreciation (Way and structures and Equipment)..... 29,364,531 28,579,695 87,065,807 85,077,631 26,591,428 25,01 78,761,494 76,701,048
11. Amortiiation ofdefense projects--...........-.---- 1,50,1 677127 4,068 4046 1, 6 ,020 1,92,178 601,054 3,592,163 1,420,56
12. Federal income taxes............. ..--............. ....... -30, ,999 a 23.4 594 76,144 417 23,964,041 28,763,931 21. 26 71,627,10 21,b06,580
13. Dividend appropriations:
13-01. On common stock ..... ............. ........... .. 12,152,596 21,227,792 34,456,494 41,653,098 12,152,596 21,227,792 34,456,494 41,653,098
13-02. On preferred stobk.. ... ................ 2,572,569 8,305,860 7,919,766 14,785,007 2,572,569 8,305,860 7,919,766 14,785,007
Ratio of income to fixed charges/ (Item 5+6-04) .... 2.24 0.16 1.86 1.23 2.41 0.25 2.03 1.32

All Class I Railways Class I Railways Not in
All Class I Railways Receivership or Trusteeship#
o T ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS /
Selected Asset and Liability Items Balance at end of March Balanoe at end of March
1947 -1946 1947- 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road... ... ........................................ ..--. .52,388,304 650,302,611 $45,437,994 $43,310,460 umber of "mNumber of-
18. Expenditures (gross) for additions and betterments- reports Amount reports Amount
Equipment................... .................--................ .101,441,604 51,173,825 94,657,871 44,904,836 re
19. Investments in stocks, bonds, etc., other than those March 194 8 $48,970,547 8S 82,
of affiliated companies (Total, Account 707).. 573526,223 589,315,71 556,414,9 5724 5,162 March 19 2 11,252,949 84 ,67,196
20. Other unadjusted debits.- ...... 1 ......... ........................28 6,13707,866 1 ,65 3 1 59
2 3 months 1 67 72,889,255 59 54
21. Cash .... ....... ............... ......... ..................... .............. 0,9 2 9r 6,5 816,584 15 ,2o ,o009
22. Temporary cash investments.......................... 96,614,092 1,52,061,905 779,874,20 1,226,924,602
23. Special deposits........... -... ........... .. ............... 147,501,626 179,706,139 134,319,300 165,99,54~'
24. Loans and bills receivable --.~.......5....596 252,034 ...3....6 LIONS NET INCOME-ALL CLASS I RAILWAYS ,LLO
25. Traffic and car-service balances-Dr. .. -..... 56,679936 53,90,699 48,471,335 42,935,'44 or oOLLAs or o
26. Net balance receivable from agents and conductors.. 132555,753 105,094,606 20,67 850 95597821 o 90
28. Materials and supplies... ....... ... 701,737,710 616,618,89 638,50s8,26 5 .14 s
29. Interest and dividends receivable ...-2 28,581,655 i.,92, 84 4,12
30. Accrued accounts receivable .. ..166, ,84 231,093,502 142,11,810 206,230,891 0r 6
31. Other current assets...... ....... 59,602,555 48.338,133 52,783.497 41,751,587 60 -
32. Total current assets (items 21 to 31)......... 3,494,093.754 4.157.087,860 985.856.790 353946,598 40 4
40. Funded debt maturing within 6 months 4/ ..179,928,180 122.735.563 1 352012 116,053,982
41. Loans and bill payable f/-........... ...... ........ .8,65000 10,604,058 ,150,000 6,750,000 20 -- 20
42. Traffic and car-service balances-Cr... ..9,462,998 126,088,91 76,224,720 10,268,946
43. Audited accounts and wages payable........ ......... 47,0,091 44,671, 401,426,524 396,229,115
. Miscellaneous accounts payable......... .......... ................. 203,8,6 163,: 7,17 167,702,671 1 0,896,918 0 0
.Interest matured unpaid-.............. .................79,019,6 67,10,098
4: Dividends matured unpaid ..-. .........- -.... ... ....,16,189, 15, 144,908 ---------
47. Unmatured interest accrued...-....-. .. .... .114 5663,35 57,814,268 55.29828 0-P -0
Unmatured dividends declared .... .. --- 35,8 20,732,10 4 ,630
49. Aocrued aoounts payable-....-....- .................. ...- ...-1-0,898---,266 0.501,383 130,991, 40651- l- 270 ,1951-406
Taxes aoorued 2...................................52 6,178 4,716,2614 559,751,224 -40
.Other current liabilities:........................ 93,77; 086 124 110 84,706,f 7 117,172,000
52. Total current liabilities (items 41 to 51)......... 1,607,825,696 2,031,013,088 .a 42,469,695 1,72,o6,811 -60 -- --
53. Analysis of taxes aooeueds -80 I -80
53-01. U. S. Government taxes...................-...1.. 3,104,422 535,512,930 .303,838,300 453,884,086 JF ANM J ASONDJF FA J J A ON 0 J FIM J J AS ON
53-02. Other than U. S. Government taxes ..-- ......... 088,830 130,665,080 100,877,964 105,867,136 1945 1946 1947
54. Other unadjusted credits _-......--....--- 352,780947 430,591,135 306,442,271 370,633,071
IL Incue amnso rnia rln-- em- en ---rt-nlog -- n


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


Period 1947 j 1946 Inorerse
3 months ended March 86,922,629 18,123,696 $68,798,91 3
6.aonths ended aroh 278,892,110 6.791 28,171,285
12 months ended March 357,33,400 2 38.104.78


.1


/ Includes payments of principal or 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 whioh mature not more than one year after date of issue.
SExcludes reports of 4 roads for the month of March 1947 and 1946, 5 roads
for the 3 months of 1947, and 4 roads for the 3 months of 1946, where net income
(or defiolt) was absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures Include returns of the Chicalo, Indianapolis and Louisville Ry. Co.
which emerged from trusteeship on May 1, 1916, Seaboard Air Line which emerged from
receivership on August 1, 1946, and St. Louis San Francisco, which emerged from
trusteeship on January i, 1947.
i Decrease or deficit.

e


..,,........7,


Subject to revision


The net nodo shown for March 1946, is after a deduction of 196-,487, taken out of
operating revr@ues to create reserves for land grant deductions In dispute.
/ For railways In receivership and trusteeship the ratio was as fbllowl Maroh
1947, 1.4;; Earch 1946, ; 3 months of 1947, 1.10; 3 months of 1946, 0.78.


--------- 77T:


Statenwent No. M-12S
MARCH 147








Subject to revision


UNIVERSITY OF FiORIDA


3 1262 08851 1661


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
NOVEMBER 1M7


28Feb'48


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

Compiled from 127 reports (Form IBS) representing 131 steam railways
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)


Net railway operating income..
Other income
Total income
Miscellaneous deductions from income
Income available for fixed charges ..
Fixed charges:
6-01. Rent for leased roads and equipment
6-02. Interest deductions/ ..
6-03. Other deductions...
6-04. Total fixed charges...
Income after fixed charges.. .
Contingent charges
Net income 2/- ..
Depreciation (Way and structures and Equipment) ...
Amortization of defense projects_--__-----------__
Federal income taxes......-- ...
Dividend appropriations:
13-01. On common stock.
13-02. On preferred stobk....
Ratio of income to fixed charges/ (Item 56-04)


All Class I Railways


Class I Railways Not in
Receivership or Trusteeship#


For the month of November For the eleven months of For the month of November For the eleven months of


65,577,488
19,616,070
8 ;193,55 0
3,339,542
81,854: 16
9,454,661
25,101,736
165,198
7,132 ,121
3,774,370
43,358,051


24,558,625

41,320,936
8,620,008
2.36


$64,122,214
18,293,375
82,415,589
2,948,450
79,467,139
10,315,68
27;?17;706
121,739
42, 321
3,021,352
38,820:974
28,655,249
1,235,291
1,711,353

30,981,567
9,274,950
2.11


$700,834,367
182,205,786
883,040,153
39,046,550
843,993,603
114,500,139
281,849,284
1,675,959
398:025,192
41 2968,21
3,78455
)7,183,671
323,101,690
14 779, 06
273,452,193

154,80,318
45,653,851
2.12


S16,074,511
71, 484,il9
687,558,630
27,316,923
660,241,707
108,998,098
313,514,555
1,345 576

43 31:219
201,752,259
313,029,001
9 304108
53,928,301

153,903,505
46,121,850
1.56


62,174,355
18, 604, 055
80,778,41o
3,300,012
77: 478,398
9,145,720
20,757,265
153 490

3,774;370
43,647,553
27,99o,324
1;709
24,35573

41,320,936
8,620,008
2.58


$59,461,329
17;466:238
76,927,567
2,825,337
74,10 2,230
10,003,542
22,926,43
105,843
3 035,843
o06638
3,021,352
38,045,035
26,779,056
1,124,997
1,877,507

30,981,567
9,274,950
2.24


658,457,005
172,582,275
831,039,280
38,288,157
792,751,123
111,002,775
234,351,742
1,552,374
346:906,891
445,844,232
38,784,550
4o7 059,682

302, 331,54
13,597,602
265, 93,076

154,880,31
45:653:851
2.29


(475,o83,978
162,771,852
637,855,830
26,599,558
611,256,272
104,530,158
265,385,849
1,187,500
3 1,103,507
34,631,;2
205,521,546
292,203,093
8 3637
52,385,710

153,903,505
46,121,.50
1.65


All Class I Railways Class I Railways Not in
Receivership or Trusteeship#
Selected Asset and Liability Items AANALYSIS OF NET INCOME-ALL CLASS I RAILWAYS 6/
Selected Asset and Liaility Items Balance at end of November Balance at end of November
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road 2.... .................. $256,293,923 $206,512,050 $235,920,535 $185,738,499 Number of Number of
18. Expenditures (gross) for additions and betterments- Amount Amount
Equipment ....................... 492,401,382 268,365,604 463,990,178 252,046,547 reports reports
19. Investments in stocks, bonds, etc., other than those ovebr 9 7 6 4,66,
of affiliated companies (Total, Account 707) 581,479,582 579,029,157 568,707,068 567,374257 oveber 1947 97 7,994,35 26 4,636,294
11 months 1947 1 453,2 ,7196 46,871,745
20. Other unadjusted debits-.................. ........... .............. 206,616,z77 172,256,580 138,660,682 113.894,67 11 months1947 1 453 ,7o2 6 46,070,085
21. Cash........ ................... .... .............. 1,020,308,068 1, 01,463,79 95189,399 980 385328 11 months 194296,32,49 94,570,352
22. Temporary cash investments ............ ..... ............ 1,00,360,951 ,1,2 85021,4 1,04 615,397
SSpecialdeposits 1328 170,1 88 1251,2 1 162,7,993
24Loans and bills receivable....... ...... .... 12166,763 59 6 13,183,887 5,s87 NET INCOME-ALL CLASS I RAILWAYS
2. Traffic and car-service balances-Dr. 5121101 56,294 47 858 74 49,6 222 M oS M ON
26. Net balance receivable from agents and conductors 148,124881 122,11209 46,2 114 37291OF LLR
27. Miscellaneous accounts receivable ... 295 6,581 301,184,105 255,662 6 7 256,756662
28. Materials and supplies........... 753,003,892 651,003, 05 700,530,882 605,329,354
29. Interest and dividends receivable .. 28,94 284 0 27,577,990 27 ,385
0. Accrued accounts receivable 165,399, 153,172,863 150,3681 1 ,732
31. Other current assets... 7, 342164 31,792,70 30,860.463 25,494,174 60 -- so
32. Total current assets (items 21 to 31) ...... 3,651,705,202 3,757,585,361 3,292,841,185 3,412,185,625 A
40. Funded debt maturing within 6 months4_. ... 121,840,483 91,549,461 118,988,602 88,655,334
41. Loans and bills payable --........----- ---- .4,75,000 9,24,600 4,75,000 9,245,6o0 0 -20- --
42. Traffic and car-service balances-Cr .. .109,378,961 106,816,508 100,432,976 98,956,152
43. Audited accounts and wages payable .610,66,49 531,603,686 70,59,139 495,31219
44. Miscellaneous accounts payable ....... .... 213,686,55 167,088,761 184 3,534 138,649 76 0
45. Interest matured unpaid 42,545,742 47,285,926 31,07,299 43,817,72
46. Dividends matured unpaid 12,08,861 9297,300 11,818253 9028,92
47. Unmatured interest accrued .75,888,780 68,988,888 74,9153164 68 881,0 69 -
4. Unmatured dividends declared.. 60,639,924 49,22,918 60,639,924 49,622,91
49 Accrued aobounts pyable ....... 179,548,25 191,88,695 165,808,667 177,753,397
50. Taxes acorued -- 621,8104 56, 5,10 592,008,011 500,715,883 -40 - - -- -- - - -- -40
51. Other current liabilities... 101,2 25 108,692977 96,455,197 103,572,743
52. Total current liabilities (items 41 to 51) 2,032,579,408 1,827,186,360, 1,893,751,164 1,695,575,231 -so -60
535 Analysis of taxes accrued:
53-01. U. S. Government taxes .. ... 498,046,245 410,185,772 478,85,1 381,789,991 -o l -
53.02. Other than U. S. Government taxes ..- 123,772,789 126,479,329, 113,14,530 118,925,892 1945A S 0 F M AS 0 J F M J1 0
54. Other unadjusted credits...................- ............. 337,972,007 392,0o6,907 300,009,713 357,178,277


!/Represents accruals, including the amount in default.
2/For all Class I Steam Railways the net income was as follows:
Period 1947 1946 Increase
3 months ended November 112,195,110 136,529,907 d 24334.797
6 months ended November 240, 61712 238,299,979 lU;(
12 months ended November 493,965,879 123,22,183 370,723,696
The net income shown for November 1946, is after a deduction of $1,472,288 taken out of
operating revenues to create reserves for land grant deductions in dispute.
3/ For railways in receivership and trusteeship, the ratio was as follows: November
1947, 0.94; November 1946, 1.17; 11 months of 1947, 1.00; 11 months of 1946, 0.93.


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.
S Includes obligations which mature not more than one year after date of issue.
S Excludes reports for 4 roads for the month of November 1947 and 1946, 5 roads
for the even months of 1947 and 4 roads for the eleven months of 1946, where net income
(or deficit) was absorbed by the controlling company.
l # Figures include returns of the St. Louis San Francisco, which emerged from
trusteeship on January 1947; Denver and Rio Grande Western R.R. Co., which emerged from
trusteeship on April 11, 1947; St. Louis-Southwestern which emerged from trusteeship on
July 24, 1947 and the hew York, New Haven, and Hartford, which emerged from trusteeship
on September id, 1947.
d Decrease, deficit, or other reverse item.


Income Items


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UNIVERSITY OF FLORIDA


3 1262088511885 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRAMWSPORT NOMICS AND STATISTICS


Oct20'47


Statement No. M-125
JULY N47


UNIV. OF FL LIN.
DOCUMENTS DEPT.




U.S. DEPOMlTORY


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

Compiled from 126 reports (Form IBS) representing 130 steam railways *
(SWITCHING AND TERMINAL COMPANIES NOT INCLUDED)

Class I Railways Not in
All class IRailways Receivership or Trusteeship #
Tncoma Ites For the month of July For the seven months of For the month of July For the seven months or

1947 1946 1947 1946 1947 1946 1947 196
1. Net railway operating rncome s ... ... 44 63,029,672 2,381,4O $217,792,?56 55,646,635 $ 79.32 $397,528,322 $196,460,265
2. Other income o 6i,9,2= 15 55 07 II 4,:.,941 106,923,457 15,358,951 ,693,544 lO6,220,671 100,082,292
3. Total income 77,547,732 78,582,729 -544,190,381 324,715,713 71,005,586 72,872,926 503,748,993 296,542,557
4. Miscellaneous deductions from income .... ... 2,75,93 ,7,7 23,276,959 16,520,473 2,640,348 2,902,74 22,564,55 15,974,115
5. Income available for fixed charges 74,671,789 75,574,945 520,913,422 308,195,240 6835,230 69,970,186 48,14,435 2T0,568,42
5. _671,7 9 75357 ,:55 .356,238 69970,1,14.1 5
6. Fixed charges:
6-01. Rent for leased roads.and equipment .. 8,13 13 10,122 ,2 72,562,319 6G,307,409 8,019,145 9,47,251 69,836,924 64,4,027
6-02. Interest deductions/ 25, 5:" 28,56,247 .180,780,793 204, 6,207 20,443,081 23,267,334 144,201,870 167, ,170
6-03. O'.rer deductions .. .. 122,740 1,022,231 6,598 153,19 10,520 943,715 76,
,.6-04. Totai fixed charges 4 34," 977 3,771,030 254,365,343 27!,940,214 28,615,385 32,873,105 214,982,509 2 O2 ,05
7. Income after fixed charge .. 2 36,0,- 915 2 ,54079 3 55,026 39,74,3 37,097,o 26 201926 47,966437
8. Contingent charges 3 ...97828 3,72,07 24,506,289 22,534,954 ,2 8 3 ,071 2 6,89 22,534
2s404179023,071 '8324
9. Net incomeg. 37,024,984 3,O, 22, ,790 11,720,072 344025 33,37,010 24 95,637 253
10. Depreciation (lay ana structures and Equipment) 29,444900 23,460,541 204,700,2 1,957,591 27,076,563 26,057,679 188,206,131 182,239,176
11. Amoitizsatton of defense projects- ...--.......1--- 346250 ,-67 .9,466,445 4,32,543 1,225,762 817,619 8,622,768 4,287788
12. Federal income taxes .21,322717 12,6575 165,234,60 24,3,00 19,947,392 11,725,230 0,535,517 22,671,097
13. Dividend appropriations:
13-01. On common stock :.524l3 3,0o,44 9 74,050,798 86,763,512 3 ,-7 3 080,449 74,050,798 86,763,512
13-02. On preferred stobk.... 1,365,765 935,075 23,610,311 26,127,670 1,3-575 935,075 23,10,311 2,127,870
X3 1 i, o5 935,075 23,61o,311 26,127,970
Ratio of income to fixed charges/ (Item 5+6-041.. 2.17 ,1.9 2.05 1.13 2.39 2.13 2.24 1.21

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 July Balance at end of July
1947 1946 1947 1946
Railways Reporting a Railways Reporting a
17. Expenditures (gross) for additions and betterments- Period Net Income Net Deficit
Road $146,392,858 $119,779,463 0131,502,878 $106,395,543 Number of t Number of A
18. Expenditures I rossi for additions and betterments- reports Amount reports Amount
Equipment .... ..........271,248,327 148,018,292 256,311,735 134,586,5546Ao
19. Investments in stocks, bonds, etc., other than those
of affiliated companies (Total, Account 707) ........... 56 4 5 21224, 469J 1947 $ 1,697,27 1 $94652,70
I O7 ..onths 1947 270 77,42 31 31,835,92
21. Cash ..... ... 950,015,557 76,71;,32 51,703,919 871,419,945 7 months 194a0 64 130741,926 58 119,021,854
22. Temporary cash investments ...... .. ... 9e4,257,cS 1,?23,107,37 793,28o,lr 1,0o ,252,94
23. Special deposits ......-.... .. 155,93,115 177,o42,o43 1 o,448,63 10 6,o,736
24. Loans and bills receivable.... ..........2 117,674 510,206 12,5 uMILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
25. Traffic and car-service balances-Dr ... ... :1,:27 47,029,903 43t2,36 39,9'2,108 or DOLLARS OF DOLLARS
26. Net balance receivable from agents and conductors 119,101,933 11,399,577 109,4S,3) 10,70,25 90 90
27. Miscellaneous accounts receivable 283,817,711,613 L, 525,862 0'lO,2,706 80 --80
28. Materials and supplies .. : 9 2,70 73, ,512
29. Interest and dividends Teceivable 13,711. 17,5,935 11,19,13 .37!
30. Aooaieed acounts ro.eivable --.. ... l 2'14: 10ot7o,"2 1, l-,,?
31. Other current assets 3 32 ,472 2, 5.* o : C,- 60
32. 'otal current assets-(items 21 to 31) 3,457,618814 3,759,540.75 3029315,951 3,312,651,179 40 40
40. Funded debt maturing within 6 months 83,946.284 85.080.187 79.250.350 74.832.034
41. Loans and bills payable 5/. -- .. 5,5,000 11,5,5 5,550,00 10,685,000 20 20
42. Traffic ar. car-service balances-Cr. 2,4,6 110,46,77 72, 720,470 99,295,403
4 Auaited a.:coarnr and wages payable 455,953,44 479,7, 4117,9,779 7,543,27- ----
MiEcelaneous accounts payable 226,765,182 18133.,427 4 3,:7132,0 l-1, -,0u
4 InterEst matured unpaid 39,32,300 h,70,6 J 34,: 7,135 51, ,3
4 DivLdernd, matured unpaid 7.553,037 14,123, 7,27 ,112 13, 5,, -20 ---- ---- -20
47. Unmatured interest accrued ,3.2,l 59,217; 59,60,756 c
g Unmatured dividends declared 1. 1,554 12,1,360 ,5135 12,21 ,3
49 accrued oounts paabl 167,9,5 186,7,12 5,S16 6164,il,70 30 16- - -0- 2 -L--40
S Other .current liablities.- 97919:5 105565.1 9 .262 ::
52 Total current liabilities (Items 41 to 51 1,750,75S,567 1,845,5980,896 1,60,134.252 1.,669.,73.?,o -60 - ------- -60
53 Analysis of Saxn eaoorued: -80 0I 1 1l1 -so
.53-01 U S. Government, taxes 456,718,12 49,46t,2 #33,632, 7,77,,7p s A o i e FM JAS
53-02 Oter than U S. Government taxes 146,001 ,62 1466833, 3 3 69,422 132, ;. ,00 1945 1946 1947
54 Other unadjusted credits 359?,03.4,39 g394,43,2a 16,o,0o4 36,l1,E


L/Represents accruals. including the amount in default
I/FFr'all Class I Steam Railways the net income was as follows
Period 1947 1946 Inaderse
3 montns ended July 61."1,829,027 612,488,819 lo09,3lO,208
6 months ended July 13,219,796 d S.08'.277 2,_ ,
12 months ended July 518,5S .18 5 .'.
Tje net InOone sh'vn for July 1946, is after-a deduotion of $ 40,S18, taken Oat of
oper.tlnE revenues' to create riservres or land grant deductions in dispute.
3/ For railways in receivership .md trusteeship, the ratio was as follows: July
*f: 1947, 1.10; July 1946, 0.95; 7 months of 1947, 1.01; 7 months of 1946, 0.67. .


/ 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 one year after date of issue.
_/ Excludes reports of 5 roads for the month of July 1947,and 7 months of 1947,
a roads for the month of July 1946 and 7 months of 1946, where net income (or
deficit) was absorbed by the controlling company.
Excludes Toledo, Peoria and Western Railroad.
# Figures include return of the Seaboard Air Line which emerged from receiver-
ship on August 1, 1946; St. Louis San Francisco, which emerged from trusteeship on
January 1, 1947, Denver and Rio orende Western R.R. Co., which emerged from trustee-
ship on April 11, 1947, and the St. Louis-Southwestern which emerged from trusteeship
on July 24, 1947.
A Decrease, deficit, or other reverse item.