Selected income and balance-sheet items of class I steam railways in the United States - 1948

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Material Information

Title:
Selected income and balance-sheet items of class I steam railways in the United States - 1948
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:
1948
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:
AA00000587:00016

Related Items

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


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Full Text




Subject to revision


17Apr'48


UNIVERSITY OF FLORIDA

IIIIIIIIII 11111 111111 II 111111 1II II 1111111111 INTERSTATE COMMERCE COMMISSION
1262 088511687BUREAU OF TRANSPORT ECONOMICS AND STATISTICS
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SELECTED INCOME AND BALANCE-SHEET ITEMS OF CLASS I STEAM RAILWAYS IN THE UNITED STATES

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


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the onuth of January For the month of January For the month of January

1948 1947 1918 1947 ~1948 1947

1. Net railway operating income.............-...........-...... (41 97149 58 498 o860\ 5 029 227 (14 5 538 $6 877 56 807 22
1633314745883 337 768 050
2. Other income...........-.-----------------.--. 19 089 49 16- -6 981 9 498 97 85 1 4 \ 1883 337 7680 \
3. Total income.......----------- 60 386398 74 835 841 14 524 903 2 869 01 7760873 9 575258
4. Miscellaneous deductions from income.............-...... 3 845 208 3 274 537 676 84 662472 586 140 364 122
5. Income available for fixed charges........... ....- 56 541 190 71 561 304 13 848 619 22 206 538 7 174 73 9 211 136
6. Fixed charges:
6-01. Rent for leased roads and equipment.......... 9 762 079 10372 181 7 015 171 7 022 521 15 864 17 179
6-02. Interest deductionsl/ ..----.. 24 343 750 26351502 10 653 401 10945 047 1033 473 1062 661
6-03. Other deductions--..... --------..--.- 143 235 137 591 39688 36 848 2229 2 082
6-04. Total fixed charges...................... 34 249064 36 861 274 17 708 260 18 004 416 1 051 566 1081 922
7. Income after fixed charges ........... ..... ... 22292126 34700030 d 3 96 4202 122 6123 167 8129214
8. Other Deductions ..................................................... ... 3 584 665 2937 100 5 1 019 580
9. Net income.. .......................... .....3- 18 707461 31762930 5 249214 18 2542 6 123 167 8129 214
10. Depreciation (Way and structures and Equipment).... 30 111 771 28 886 238 12192 048 11 895 998 207 852 2 142 613
11. Amortization of defense projects-.....--- ------- 1368 598 1 366 007 465 724 488 108 70 462 59 577
12. Federal income taxes ........................... 23 863 324 23944 532 5 433397 4795 059 3 562 604 4953 220
13. Dividend appropriations:
13-01. On common stock.........-............... ......... 3 158 609 2902 627 20 000 20000 -
13-02. On preferred stock.......................... 2 325 748 2 582 269 315 525 2 572 046 .
Ratio of income to fixed charges (Item 5+6-04) .1.65 19 0.78 1.23 6.82 8.51


SOUTHERN REGION WESTERN DISTRICT
SOUTHERN R_ i WESTERNDISTRICTILLION NET INCOME-ALL CLASS I RAILWAYS uILLI.O
Fo t t aOF DOLLARS OF DOLLARS
Income Items For the month of Januarl For the month of January 100" 100

1948 1947 194 i 19
1. Net railway operating income ......--...-..... 10 567699 (10073 014 18 82 687 25 081 080 s0o o-
2. Other income-...........-............. ---- .. 1669 826 1943 822 7 040 410 5 293 657
3. Total income................... ........ 12237525 12016 836 25863097 30374737
4. Miscellaneous deductions from income....-- .----. 426 671 630369 2156113 1 617 57460 60
5. Income available for fixed charges................. 11 810 854 11 386 467 23 706 984 28 757 163
6. Fixed charges:
6-01. Rent for leased roads and equipment....... 861 146 811 952 1 86 9 898 2 5 52 9 40 -- -- 40
6-02. Interest deductions I/. 7...................... 73 895 3752 021 8 882981 10591 773
6-03. Other deductions .. -....... .. .--- 23582 23 371 77 73 75 290
6-04. Total fixed charges................ 4 658 623 4 587 344 10 830615 13 1875 92 o
7. Income after fixed charges..... 7 152 21 6 799123 12 876 369 15 569 571 ---------7 23 6 9 -- o
8. Other Deductions................................................... 297 100 279 067 1 897 99 1 638 453
9. Net income ..................... 6 855 131 6520056 10978 377 1 931118
10. Depreciation (Way and structures and Equipment)...... 4 002 427 3 677 757 11709 444 11 169 870
11. Amortization of defense projects .......-------- 11 588 220431 620 824 597 891
12. Federal income taxes ............................... 3879 433 3 754 830 10987 890 10 441 423
0*O
13. Dividend appropriations:
13-01. On common stock............ ........ 3 138 609 2 882 627
13-02. On preferred stock ...-.. ........... 10 223 10 283 -- i I I I I I I I I 1 1 I
Ratio of income to fixed charges (Item 5+6-04) ...2.5 2.4 M 2.19 2.18 J M A 946AS OOFom 94 0 SO N DJ48


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items lane at the end of J ary Selected Liabl~ty Items ANALYSIS OF NET INCOM.--ALL CLASS I RAILWAyS
Balance at the end of January Balance at the end of January
1948 19417 194 ___ 1947
ReportR showing Reports bshoing
17. Expenditures (grossl for additions and betterments-
Road17. Expe.ditures gross for additions and better s- 60 43 i 15 6 7 40. Funded debt maturing within 6 months /.... .... $125 614 0211 $189 145 62 Period Net Inome Net Deflit
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable 4 035 000 9 745 600 umber Amount Numbr Amount
Equipment......... .. ...................... 63209091 32 117 008 2. Traffic.and car-service balances-Cr -- ---.... 92 353 662 96 443 233
19. Investments in stocks, bonds, etc., other than those 42. Audited accounts and wages payable ..9 433 238 475 697 6 69
of affiliated companies (Total. Account 707)----- 581 218 27 580209 251 4 Miscellaneous accounts a payablee. 235 946-65 187 516 11, Januar 1I-8_ 67,24 2979


22. Temporary cash investments ...... ....... 966 973 79 1047 34090 Unmatured dividends declared.. 18 578 571 19 795 78
2 Special deposts.......................... 144607 165 71 16 49. Accrued accounts payable 180 08 75 16 6849 Eludes reports of roads hose nt nome
Loans and bills receivable .............................. I2 629 71 366 98 0. Taxes accrued a 694 062 2O8 433 ..075 36 ....or.. o o.n n.
. Traffic and car-servce balances--Dr ............. 99 16 021 921 51. Other current liabilities 110 126 502 98 401 257 (or dfi ) was absorbed by the controlling company.
i6 Net balance receivable from agents and conductors 123 517 505 126 891 92.
27. Miscellaneous accounts receivable 330 478 674 291 691 678 Total current liabilities (items 41 to 51)...... 1 994 435 3861 612 580 28( Period Number Excluded
28. Materials and supplies.... 779 875 851 674 337 55
29. Interest and dividends receivable .... 3554 82 13959581 53. Analysis of taxes accrued:
30. Accrued accounts receivable. 174 271 198 175 98 00 53-01. U. S. Government taxes 570 518 496 320 573 200 Jan7ury 111
31. Other current assets 33 890 .05 57 163 72 53-02. Other than U. S. Government taxes 123 543 546 112 502 169 Janta 7
32. Total current assets (items 21 to ) .......... 3 569 905 415530 308 841 54. Other unadjusted credits 343295911 360 22235


d Decrease, deficit, or other reverse ite.
T Represents accruals, including the amount In default.
SExcludes Missouri & Arkansas Ry. Co. RoaA not In operation.


2/ Includes p n of prinopal of long-term, debt (other than
long-tern debt In default) which becomes due within six months
after lose of month of report.
/ Includes obligations which mature not more than one year after
date of issue.


Statement No. M-125
JANUARY 194









INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


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

rM ~a MONmr of JAMIAr 19 Aun 1947


Page 2


N BRUI.WA OPOIIM 0AL sn a INOI DIRDWID aIT AIWIX OP Ma IN z00zc i raT.B IBM00 DIDIAIID
Isom Ad 2 PPPIM P AIOn COB IE0 I( A" PPPRIATISOS
ion ad rallw r ---1-l Region ad railW -i-
1948 1947 l948 9147 1947 194 1947 1948 194 194 1947 19941 1947 1948 1947


a it se e w $41 297 149 $58 gon Contiona


stern Ditriot foWt ............... 5.029.227 14.537.538& 5,249.214 3.l*2.542 5,433.397 4.795.,09 2.335.525 2.592.046

New tnland logion total ............. 1923.201 366,007 4 2.721.966 953.613 259,437 119.453 18.592 18,578
Bangor and Aoostook .................. 0 304.744 15,444 259,897 126.358 159.291 342 -
Boston and ainn ...................... 950 230 279.887 4 16 .7. 333 614431 17.500 18,000 -
anadian Rational Lines in Nwn agland a i 10.282 71.697 .
Canadian Pacific Lines in Maine ........ 7927 75 -
Canadian Pacifto Lines in Vermont ...... 1 -
entral Termont ........................ d .6d 2 .o jo 4 6.60., 6a 6 6600 -
Maine central ...................... .. 1 009 1 ,79250 06 4,446 15.511 18.592 18.578
w ToYrk onneating ................... 1255 34.93 3.1 2 5 -
Isw York., I.e aven and Hartford .......d 1,14506 17.521 1 62 27.600 25,000
Ratlnd* ...........................0..... 1 50jb 127,92.8 t 7ij d 5-. -

Great Laks Rgion Total ............. 1,666,809 7.702.211a 2.789.884 2,905,291 1,74.525 1.924,376 2,037,021 2,037,021
Ann Arbor ................................ 2.1 50.350 5.640 32,576 1019 19.966 -
a ria ai India ................ 45.1 66,756 4.927 66.032 56. 43,
Delawa and u.on ..................... 349,218 375.733 216.307 239.685 13.00 163,00 -
Delava, Lackaanna and Western ....... 36,002 486,733 12.133 91.570 79- -
Detroit and Mnkinao ................... 47.509 31,252 40.201 24,70 9105
Detroit nd Toldo Shore Line .......... 114.522 107.446 106,716 99.361 66,94 61,872 20.000 20,000
riL .... ........................ .. 631.215 36.033 152.687 334, 93.910 197.725 2.017,021 2.017.021
Grand T k Western .................... 110.33 261.982 a 469.63 9 .-
Lehigh ad Hudon Rvr ................ 4 31.647 l 32955 1
Lehigh and Nw egland ................. 709 86.763 60,1 76.512 38.43 4689 -
Lehigh Talle ......................... 4233 623.9 d 4.6 112,793 d4 .t54 a20 -
Monongahela ............................ 108. 157.16 7.130 120,333 l.. 92 -
Montour ................................ 65.441 68.716 4.370 67.398 39,42 41.30
Nw Tork Oentral a .................... A 2.5. 2.161290 4.213 26.317 130.42 116.239
Iw York, Chicago and st. Lou ........ 997 951,587 6418, 773.979 333,000 430.000 -
INw York. Ontario and V.etern" ........d 22.10 82.0524 421 4 197. -
Iw York, Susquehanna and Western" ...a. 7i 3.0ae A 5
Pittsburgh and Lake i'e ............ 599,8 3 2496.40 245.156 -
Pittsburg and Shawat ................. 60,395 54,931 49.317 22,783 -
Pittsburgh a est Virginia ........... 134.593 88.520 97.928 50,277 61.091 31.670
Wabash ........................... ..... 950.481 911.198 731.429 671.984 476,245 438,505 -

Central astersm eion total ......... 5,2s5.619 6,469.320 269.636 1,230.864 3.419,435 2.751.230 279.912 536.47
Akron. Canton & Youngstown ............ 89,72 4,655 81.244 74.353 49.4 45.262 -
Baltiore and Ohio .................... 2,652.64 2.735.23 923,406 1.03030 359,100 398,210 -
Beaemr and LIake ris ................. 182.011 290,587 100,621 197,301 81,277 111,667 -
COntral R.R. of New Jer*eW ............ 81.193 506.634 892.609 a 662a 200 200 -
Central SL. of Penrlvania ........... 4..;9 619.203 WO.I14 151.557 700 800 -
Ohiago & astern Illinois ............ 146,275 7,117 28.796 d 1.51 26.000 15200 -
Chicago & Illinois Midland ........ .... 158,275 113.736 123,437 5 6 75,600 -
Chicago, Indianapolis and Louisville ... 0,7 37 20,401 124 20 4,606 -
Detroit, Toledo and Ironton ............ 3 31'2.57 298,221 1544759 184900 -
Lgin. Joliet and atrn ............ 353069 75.263 329,574 315 278,5962 270,5
Illinois Terminal .................. 9,301 141,46 50.530 907 40100 67.200 -
Long Island .......................... d 1.133.91 4' 06 4 1,282,631 4
Missour Illinoias..................... .. 8 710 4.418 52.000 33.000 -
Pennylvania .. ................. ..... .231.585 1.159.692 0 1450917 409,264 -
Pennsylvania-Reading Seshore Lines ....d 416. 553 d 65.4 494 30,40 26.74
Beading ................................. 7,037 ,o sl.W 9,725 116.092 519,313 279.912 279,912
Staten Island Rapid Tr.sit ............ 7504 51.965 ,11966 325 -
WesternMaryland ....................... 302.000 325
helin and Lake Brie ................. 6 529599 652715 519.279 402,000 317,000 256.535

Southern Distrot TOtal .............. 17.445,235 18.,80.a42 12.978.298 14,.69,270 7,442,037 8.708,050 3.148,832 2.,92.850
Pocahonta tReon fotal .............. 6,877.536 8,807,228 6,123,167 8.129,214 3,562,604 4 ,953.220 -
hesapke and Ohio ................... 2,536,083 4,501,943 1.909.968 3.983,411 1.1606004 2.39145 -
orfolk and esten ................... 3.274.026 3,013.802 3.268.588 2.994,206 1,25,000 1,850.000 -
Richon, Fredericksburg and Potom ... 275,638 308.322 281.758 313,418 170,000 192,000 -
irginian ............................. 791.789 983,161 662,853 838.179 407.000 513.075 -


Southern Region Total ................
Alabama great South u .................
Atlanta & Saint Andrem ............
Atlanta m West Point .................
Atlantic Coast Line ....................
Central of Gorgiae ..................
Charleston Western Carolina ..........
Cincinnati. New Orleans and Texas Pas. .


10,567.699 10.073,0141 6.855.,1~ 6,520.0561 3.879.4331 3.74.830 3.1481,32 2,892.850,


194.36&
32.91
1.954,298

417.161


109.055
22.415
8,201
1.730.357

309,406


140,000
19,721
11,686
300,000
13,824
350,000


80,000
18.225
4,621
300,000
13,124

240.000


s23,l14

10,223


823.427

10,223


Cllnohfied .........................,
Oolumbus and reenville ...,.........
florida last Oouat* .................
Georgia L. Lse Organisation ...
Georgia nlorida* ..................
ergia Southern and lorida .........
aulf, Mobile and Ohio ...............
Illinoise central .....................
Louisville and Nashrile ............
Mississppi central .................
Nashville, Chattanoo a & St. Louis ...
I Orleans and Northestan .........
lorfolk Southan .....................
Seaboard Air Lie ...................
Southern ............................
ennaaee Central ....................
WVstern M. of Alaba ...............


$526,185
13,019
467.234


535,971
1.230.103
1.226.373
23.257
205.807
232.715
29:556
1.209.545
2. 496.33
d


$755.003
499
562,318
21 ,803
50,920
39J.313
1,964.659
1.553.233
168.709
142,767
41,010
1,.145.164
1.771.322
- 16,734


107,489
-

296.332
472,761
941,586
14,710
116.693
210,600
18.196
918.586
1,546 340


$2,580
211,201
w
28,9oo
251.767
1,181,017
1,426.979

122,077
11,W2
801,231
898.771T
l6,58


5.000
70,000

25.000
181.000
330.000
595.475
72,286
150.000
400.000
boo.oooo
1,130.000
22. 0n


$54.182
500
130,000

16.000
172,.054
70,000
867,600

85,000
7,628
340,000
595.000
9,679


$2.059.200

255.982


$2.059,200


Western District tote l .............18.822.687 25,081.080 10.978.377 13.931.118 10.987.890 10.441.423-

Northwatrn Region total .......... 2.679.264 2,779.558 d 5.807.o408 4 459.210 95.919 682,406 -
Chicago and north Wstern ............ .0687 143.356 d 1.5 j 9 -
Chioso Great Wstern ................ 169912 59 20000 -
Ohiago, Milwaukee, st. Paul & Pacifi 1,477.161 d 9 837.112 344, -3,
Chiaoag, St. Paul, Mineapolis a o5 32.,k404 ( a1 183 -
Duluth, Missabe ad Iron range ....... 02 -
Duluth, South Shore and Atlantie ... 420 5 -
Duluth, tWnnipe and Pifio ............ 21192 15,21 20 -
reat Northern ...................... 163,1 311,040d 2 19 81 -
Green BS and Uetern................ 13,156 10,444 ,1 6 25.919 18,000
Lake Superior & Ishpeing ............. 4 d 0 -
Minneapolis A St. Louis ............. 985. 5 1 1 50,000 78,000 -
Minneapolis, St. Pauln S. Marie .. 4 26 -
Northen Pacific ....................... 7 9 237,000 -
Spokan International ................. 7161 10,96 1 1,772 5.406
Spoke, Portland and Seattle ........ 26,743 239,63 3 3915 -
Wisconsin central /* ............... 4690 162,4 d 1 8 7.019- -
Central Western ion Total ....... 14.346,464 15,669,661 12,829,697 11,217.252 8.301.942 7.986.322 -
Atchison, Topka and anta .. / ..... 4,357,543 4,429,69 3,945.42 3,946,843 2,599.000 2,526,147 -
Chicago, Burlington & Qin.r ......... 2,520.598 3.130.288 2.231.803 2.986.879 1,47,700 1,719.000 -
Chioago, Book Island nd Pacific...... 1,05947 102,674 689.211 822,803 474,000 549.000
Colorado nd Southern .................. .906 4,221 45.796 11.048 58.045 36.29 -
Oolorado & Wyoming ................... 53.780 17,743 ,046 11.598 33.100 15,000 -
Denver and Rio Grade Western ........ 1,015,370 314,006 684.815 9.979 170,000 -
Port Worth and Denver City ....... 137,224 121,348 59.202 0,09 50.966 3,938 -
lorthwstrn Pacino ................. 6054.575 d 70 -

Southern Pacific Transp. SystemI / ... 3,322681 3539,27 2,10,670 2,289.954 1,46,149 1, .4 49,
Toledo. Peoria Western ............. 43.572 396 40.183 46. 7 ,629 -
Union Pacitio ........................ 2.587,191 3.00048 4,671,712 ,336178 2,600,000 2,050,000
Utah ................................ 18.178 26932 11912 20.492 ooo -
Western Paific ...................... 37,575 134,021 118,349 78,485 32,000 7,000--


Southwestern Rgion Total ..........
Beaumont, Sour Lake & Western. ......
Burlington-Bo rk laMd ............
International-Great Northerne* .......
ansas ity Bouthern .................
Kansas, Oklahoma & Gulf .............
Louisiana Arkansas .................
Midland Valley .....................
Misoluriansa-Taxas ................
Missouri Pacific ..................
lw Orleans, Texas Mexioo** ........
Oklahoma 0ity-Ada-Atoka ..............
St. Louis, Brownsville and Mexicoe .,
St. Lous-San Franoisco ..............
St. Louis, 8nan prenoio and Tea ..
St. Loul Southwestera ...............
San Antonio, Uvaldea Gulf* .........
Texau and Iev Orleans ................
Texas nd Pacific ...................
nxas Mexican ........................


7,155,487 6.631,861 3,956.088 3.173.076 2.590,029 1,772,695


190,752
5.977
199,612
726,950
76,676
249,941
28,428
327.410
1,523,815
210.514
8,584
391,024

974.,833

1.095.487
596,388
45.920


140.986
9, 312
536. 66
95.681
203.951
26.615
252,059
2.155,570
207. S0
16:.93
245,993
566:687
d 160o4o
5.M1


531,
53.169


189,583
d 88.136

562,250
67.937
2350.69
36.631
93.529
212,728
d 11.19M
5,919
329.885
236,53
36.564
818,188

434.585
39.092


129.320

377,796
a 1

86,580
176.351
30,676
o,150
2.146k
d 20.910
14,159
187,041


11.195
107.731


45-7
365.01
43.770


92,000

350,000
45.049
92,000
92,000


162.000
128,550
26,000
595.416
610.647
248.000
20,000


14,000

150,000
57,.478
117,000
20,450
40,000
300,000
9,439
14,000
115.000

439.087
455, 41
35.000
6,000


I i-


J .I J...J A L I ______ I ______ ______ 4 ______ _________


* Ieport of receiver or receivers.
0* Report of trustee or trustees.
d Defioit or other reverse item.
SIncoludes Boston & Albany, lessor to low York OCentral L..


b ormerly included in report of Minneapolis. St. Paul & Sault Ste. Marle.
S Includes Atchison. Topeka & Santa Pe r., Gulf, Oolorado & Santa P* By., and Panhandle & Santa Fe By.
S Data not included in totals. Includes Southern Pacific Company, Texas and New Orleans R.R. Co., and leased lines.


U. S. GOVERNMENT PRINTING OFFICE: 1948-0-750193


219.951
35,774
13.508
1,337.212

636,672


134,484
25.469
4.335
1,039.369
S191455.323

k55.323


I I


-t


-r


-r


I 1






_c/ s me,-34


Subject to revision


Income Items


: ;4k-1


UNIVERSITY OF FLORIDA

11III111111111111 111111111 1111111111111111111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1695 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


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)


UNITED STATES


EASTERN DISTRICT


POCAHONTAS REGION


For the month of February For the two months of For the month of February For the two months of For the month of February For the two months of


_194 91947 1118 1947 1946 1947


S C





DO :
bL


1. Net railway operating income..........
2. Other income ..... --.- .... --
3. Total income..- ....------ --
4. Miscellaneous deductions from income... -
5. Income available for fixed charges....
6. Fixed charges:
6-01. Rent for leased roads and equipment
6-02. Interest deductions l/...... -
6-03. Other deductions.............. ..
6-04. Total fixed charges..........
7. Income after fixed charges.........
8. Other Deductions... ..
9. Net income..
10. Depreciation (Way and structures and Equipma
11. Amortization of defense projects_----..---..
12. Federal income taxes... ......

13. Dividend appropriations:
13-01. On common stock
13-02. On preferred stock .....
Ratio of income to fixed charges (Item 5


ent) ....






-6-04)


$39 425 294
19 739 001
59 164 295
3 441 779
55 722 516
10 243 027
24 234 726
136 387
34 614 140
21 108 376
3 310 744
17 797 632

30 178 996
1 685 277
22 323 963

26 081 447
4 268 196
1.61


$43 820 930
16 036 514
59 857 444
3 044 522
56 812 922
10 487 013
26 129 612
136 456
36 753 081
20 059 841
2 833 365
17 226 476

28 822 533
1 354 383
20 787 688

19 401 271
2764 928
1.55


8B1 071 747
38 792 133
119 863 880
* 7 286 990
112 576 890
20 005 106
48 578 474
279 621
68 863 201
43 713 689
6 709 355
37 004 334
60 291 088
3 053 875
46 065 627

29 240 056
6 593 944
1.63


$102 319 791
32 373 496
134 693 287
6 319 057
128 374 250
20 859 193
52 481 116
274 048
73 614 357
54 759 873
5 687 221
49 072 652
57 708 771
2 720 390
44 732 220

22 303 898
5 347 197
1.74


$7 309 440
11 920 526
19 229 966

711 202
18 518 764

6 875 881
10 542 399
38 520
17 456 800
1 061 964
1 351 866
a 289 902

12 098 628
462 496
6 198 508

871 478
467 556
1.06


$4 889 952
9 215 686
14 105 638
757 545
13 348 093

6978 423
10944 975
36 254
17959 652
d 4 611 559
1 019 199
d 5 640756

11 785 684
477 383
5 495 898

871 478
467 556
.74


1948

$12 687 970
21 380 085
34 068 055
1 387 487
32 680 568

13 891 051
21 195 801
78 208
35 165 060
d 2484 492
2 728 939
d 5 213 431

24 290 676
928 220
11 510 245

891478
2 783 081
.93


t19 427 490
17 547 159
36 974 649
1 420 017
35 554 632
14 000 944
21 890 021
73 103
35 964 068
d 409 436
2 038 775
d 2448 215

23 681 682
965 491
8 290 957

891 478
3 039 602
.99


$5 764 902
807 036
6 571 938

526 837
6 045 101
13 765
1 027 607
2 229
1 043 601
5 001 500
5 001 500
2 212 182
69 908
3 019 446

10 856 559
172 991

5.79


$6 774 282
598 920
7 373 202

325 469
7 047 733
14 844
1 027 371
1 463
1 043 678
6 004 055
6 004 055
2 148 540
59 375
3 633 821

10041 011

6.75


___ __ __ ___ __ __ ___ __ __ ___ __ __L & r


Income Items


1. Net railway operating income...........
2. Other income...... ..
3. Total income... ..... ..... .........
4. Miscellaneous deductions from income.........
5. Income available for fixed charges....
6. Fixed charges:
6-01. Rent for leased roads and equipment........
6-02. Interest deductions 1/................
6-03. Other deductions -----. ..--
6-04. Total fixed charges......--..........
7. Income after fixed charges...................
8. Other Deductions.... ........ .... ...
9. *Net income......... ... ...
10. Depreciation (Way and structures and Equipment).
11. Amortization of defense projects _. ......--------
12. Federal income taxes..--....

13. Dividend appropriations:
13-01. On common stock -.... .
13-02. On preferred stock ..............
Ratio of income to fixed charges (Item 5+6-04)


SOUTHERN REGION


WESTERN DISTRICT


For the month of February For the two months of (For the month of February For the two months ol


$10 595 135
892 635
11 487 770
356 980
11 130 790
850 288
3 766 465
22 979
4 639 732
6 491 058
299 816
6 191 242

4 025 793
212 351
3 884 155

37 001
10 222
2.40


$9 231 015
1 025 300
10 256 315
433 495
9 822 820
811 118
3 721 813
24 443
4 557 374
5 265 446
262 837
5 002 609

3 694 832
218 454
3 247 542


10 222
2.16


$21 162 834
2 562 461
23 725 295
783 652
22 941 643
1 711434
7 540 359
46 561
9 298 354
13 643 289
596 440
13 046 849

8 028 220
423 959
7 763 588

3 175 610
20445
2.47


$19 304 029
2 969 123
22 273152
1 063 864
21 209 288
1 623 070
7 473 834
47 814
9 144 718
12 064 570
541904
11 522 666

7 372 589
438 885
7 002 372

2 882 627
20 445
2.32


1948


(15 755 817
6 118 804
21 874 621
1 846 760
20 027 861
2 503 093
8 898 255
72659
11 474 007
8 553 854
1 659 062
6 894 792
11 842 393
940 522
9 221 854

14 316 409
3 617 427
1.75


$22925 681
5 196 608
28 122 289
1 528 013
26 594 276
2 682 628
10 435 453
74 296
13 192 377
13 401 899
1 551 329
11 850 570

11 193 477
599 171
10 410 427

8 488 782
22,? 2 150
2.02


$34 578 505
13 159 214
47 737 719
4 002 874
43 734845
4 372 992
17 781 234
150 394
22 304 620
21430225
3 383 976
18 046 249

23 552 158
1 561 346
20 209 744

14 316 409
3 617 427
1.96


.I ItK I I


Selected Expenditure and Asset Items


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
of affiliated companies (Total, Account 707)....
20. Other unadjusted debits............. ..


21. Cash ..
21.Cash--------- ---------------- -------------------
22. Temporary cash investments ...............
23 Special deposits --.-.- ------ --..
24. Loans and bills receivable........... ...................
25. Traffic and car-service balances-Dr...........
26. Net balance receivable from agents and conductors
27. Miscellaneous accounts receivable ...
28. Materials and supplies .....
29. Interest and dividends receivable .... .
30. Accrued accounts receivable.
31. Other current assets

32. Total current assets (items 21 to 31) .....


UNITED STATES

Balance at the end of February


Selected Liabilty Items


- *I -. I I*


$37,600,387
128,858,875

564,947,205
166,320,640


936,724,o06
981,926,950
127,268:7,33
12, ,511

1 g47601
3, 2,393

16;,114;82
173,2, 512
35,24,226


3.606.399.673


$31,379,999
65,267,759

586,151,104
169,793,864


948,562,349
104,582,591
220,691
45,418,225
129 684,285
288,572,051
692,159,010
16,957,022
170'659,3?
57,9.5


3.530,119,603


40. Funded debt maturing within 6 months 2/-


41.
42.


47.
48.
49.
50.
51.
52.


Loans and bills payable 3...-..-.... ..................
Traffic and car-service balances-Cr.................
Audited accounts and wages payable..... .......
Miscellaneous accounts payable.
Interest matured unpaid.. ... -
Dividends matured unpaid... ...
Unmatured interest accrued .
Unmatured dividends declared.........
Accrued accounts payable..
Taxes accrued ... ... .
Other current liabilities.
Total current liabilities (items 41 to 51


53. Analysis of taxes accrued:
53-01. U. S. Government taxes
53-02. Other than U. S. Government taxes
54. Other unadjusted credits .


1947


$48 006 762
10 490 264
58 497 026
3 145 585
55 351 441
5 203 156
21 027 228
149 586
26 379970
28 971 471
3 106 538
25 864 933

22 363 347
1197 062
20 851 850

8 488 782
2 287 150
2.10


UNITED STATES

Balance at the end of February


$134, 352.913


3,915,000
108, 99,889
627,972,41
208,15,5
46 2,6
8,115,203


185,1 6,11
113,204363


2.07Q.r46.o66


530,929,608
119,849,008
337,101,713


9,745,600
104, 279,169

176860'25

77:28,2 3
39, 98,252
157,901,876
419,212,932
99.293.464


i1.6P'6 .6 ~;736


308,396,268
110, 816664
353,706,623


$12 642438
1 690 373
14 332 811

1 112 977
13 219 834

29 629
2 061 080
4 458
2 095 167
11 124 667
11 124 667
4 420 034
140 370
6 582 05C

10 856 559
172 991
6.31


$15 581 510
1 366 950
16 948 460

689 591
16 258 869

32 023
2 090 033
3 545
2 125 601
14 133 268
14 133 268
4 291 153
118 952
8 587 041

10 041 011

7.65


MILLIONS NET INCOME-ALL CLASS I RAILWAYS
OF DOLLARS


MILLIONS
OF DOLLARS


100 100





60 60


40 -- 40




-0-.. -i--lH r ... ...... o

o CC_ I'''''''


:1-4e01 11o l I I I I I I I I I I I i i i I i -40
JF 1 MAMJ J ASOND J FMAMJ 4 A SO ND J FM M J JASON D
S 1946 1947 1948


ANALYSIS OF NET INCOME--LL CLASS I RAILWAYS


Period


Reports showing
Net Inoome

Number Amount


Reports showing
Net Deficit
Number Aount


February 1948 81 $34,ooo,531 42 $16,202,899
february 1947 83 32,826,334 4 15,599,858
2 months 198 85 71,423,69 38 34,419,535
2 months 197 85 72,150,430 38 23,077,778


Excludes reports of roads whose net income
(or deficit) was absorbed by the controlling company.

Period Number Exoluded

February 1948 4
February 1947 4
2 months 1948 4
2 months 1947 4


d Decrease, deficit, or other reverse item.
1 Represents accruals, including the amount in default.
SExcludes Missouri & Arkansas Ry. Co. Road not in operation.


2 Includes payments of principal of long-term debt (other than
long-tern debt In default) which becomes due within six months
after close of month of report.
/ Includes obligations which mature not more than one year after
date of issue.


2Jun'48


-t


-t


-t


i


i


-r


-T


-I


-t


-I


-r


-- ------------- -- ------~-r--~


-r


I


-r-.


--L-


-r r .. f f


,
-
1 -
r = r r- *


- 1 0 I I i I I I I I -


1-1 i -


. -


Statement No. M-125
FEBRUARY 1948


I I I I I I I I I I I


I -








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 FEBRUARY 1948 AND 1947


Page 2


NET RAILWAY OPERATING T INCOME PFDRAL INCOME DIVIDED NET RAILWAY OPNRaTIG MW I iOM PNDMRAIL INIOME DIVIDM1D
1C0OME TAXES APPBOPRIATIONS INCOME T AXS APPROPRIATIONS
Region and railway Region and railway
1948s 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947

United States Total ................... $81,071,747 $102.319.791 $37.004,334 $49,072.652 $46.o65,627 $44732.220 $35,834,.000 27.651.095 Southern Region Continued
astern District Total ................ 12,67,970 19.427.490 a 5.213.1431 d 2.448.215 11,510,245 8,290.957 3,674.559 3.931.080 o lineoheld. ........................... $1.23.060o 1.362043 18.3774 $10,363 -
Columbus and Greenville .............. 30094 12,647 $31.328 $16,607 17,052 500 -
ovw Zland egion total .............. 2400.2414 583,502 4.l.3588 2.169.551 459,162 384,668 66,442 66,428 "Forida east tCoast* ................ 961.66 1,035,472 252,768 347.396 160,000 220.000
S---- eorgia R.R. Lesse Organisation ... 83.504 1.191 -
Banor and Aroostook .................... 642.43 387.049 552.727 309.340 338.767 169.557 47.850 47.850 Georgia lo ..................... ... 21.853d l d 15892 d 140 824 -
oeton and Maine ........................ 661 o4 692,43 d 1.22.02 95 34.725 65,700 Georgia Southern and rForida ......... 16.139 6.515 53.783 2677 37.000 16,000
Canadian Xational Lines in New gangland .. 2 d 12.385 d 24216 a 165.588 Gulf, Mobile and Ohio ................. 1,005,971 864,736 535604 573,920 327,000 275,108
Canadian Pacific Lines in Main ......... 19900 193- Illino Central ......................* 3.588.381 3.906.165 2.075.347 2.336,418 1,353,000 1.513.000
Cnadian Pacific Lines in Vermont ........ a 220 Louisville and Nashrille ............. 2634,346 2,937.138 2,036.670 2,535,228 1338.350 1,557,900 $2,059,200 $2.059200
Central ermont ....................... 6.61 d 1335.13 26 267 14.586 10.553 Mississisppi Central ................... 35790 25,699 19,467 6,801 11,610 8,815 -
................2-1------M -01 15 4 90.08 15.592 211 60 6a.113255,92
Maine Central .......................... 309 336.619 1257.9 1 99 15,8 85.948 18.592 18.578 Nashville, Chattanooga & St. Louis ... 345,211 286515 157.256 10338 68,113 255982
Naw York Connecting ..................... 3022 24,520 d 110 611 d 95723 ew Orleanse ad Northeastern ......... 54 251.363 361 3 209,276 260,000 145,000-
ew TYork. New maven and Hartford ....... 2 A100 d 482291TY! d 2T750 108.4 55.200 52,910 Norfolk Southern ..................... 562 71.013 3.576 12,176 7.628 37,001
Rutland" ..... ............................ 295 Seboard Air Line ................... 2.192,208 2.000,616 1.606535 1.361.484 680,000 690.000
s. ------- --outhern ............................. 4.430.024 3.650.176 2542.28 1,842.171 1,815,000 1,270.000
Great Lakes Region Total .............. 5,268.996 11.575.156 d 3246 3.221.670 4,693.961 3,425,299 2.655.207 2,655.207 Tennessee Central ................... ...d 15.058 2721 g 446.55 17,164 -
Western of Alabama ............ ..79,55ILI&46, -
Ann Arbor ............................... 59.075 112.582 27,694 76,816 32,978 48,613- -
Cambria and Indiana ..................... 80,410 91,684 79.814 d 667.77 10710.295 Western District Total ............. 34.578.505 48,oo6.762 18.046,249 25.864,933 20,209,7441 20851,850 17.933.836 10.775.932
Delaware and Hudson .................... 858.791 687.664 587.636 O, 382,000 283,000
Delaware, Laokaanna ad Western ........ 948,587 895.345 149,85 55,6 61,905 ---
Detroit and Mackinac .................... 85,881 68206 70,494 51859 45550 21.104 orthwestern Region Total .......... 1 4.815.989 3.589.261 d 11.098.852 d 2.814.746 322339 1.084,741 994,104 994.104
Detroit and Toledo Shore Line ........... 229,686 217.880 214,003 201974 133.692 125,745 40.o000 40,000
rie .................................... 2,248,650 1.1,70.458 1,234,943 450,280 757.555 266,337 2.017,021 2.017.021 Chioseo and North Weetern ............ d 1.,996.81 4 668.247 d 2.947.4 d 1.566.8- -
Grand Trunk Western ...................... 36 361.503 d 78. d 35603 Chicago Great Western ................... 394.930 317.021 286.,75 16.532 127,000 d 26.044
Lehigh and Hdson River ................. ,7'T 69.2 33 71,98 18.817 45.749 Ohionao, Milwauke. St. Paul & Pacific d 27.4 2.0 .340 1 41 1..426.559 -80,00 -
Lehigh and sew gland .................. 157,474 100,1479 136.390 79,397 86,046 48,663 Chioao, t. Paul, Minneapolis & Omaha .219 2.7 26. -
Lehigh Valley ........................... 175,674 1,124.411 d 95622 213.056 d 73.05 11 00 Dluth, Missabe and Iron Range ....... 2. .56 d 2 2 -
Mononghela ............................. 231,140 232,099 160723 158,46 li,57 122,184 Duluth, South Shore and Atlantic*" ... 28,636
Montour ................................. 137.305 130,773 135.441 128.155 83,012 78,373 Duluth, Winnipeg and Pacfio ......... 67,032 .784 5110 d -
Sew York Central a/ ..................... 482 1379,980 d 5.30175 d 1.467.78 266.315 255.978 Great northern ....................... 191.913 605.771 8.896 Ii3- -
Snw ork. Chicago and St. Louis......... 1.996:939 1.727,749 1,704,196 1,368,014 907,500 750,000 Grn Bay and Western............... 52.576 42,056 726 1.8 6.,272 30.478 125.000 125.000
Nwv Tork, Ontario and Wostern* ......... 466 153921 d 63.17 d 3.170 Lake Superior & Ishpeni ............ d 189.890 d 1 9 937 18.a9 d 1
l. Tork. Susquehann nnand Westernpol St. Louis .............. 201.1R8 246.179 232,143 23.0 127.067 170.901 150.000 150,000
Pittsburgh and Lake rie ................ 1.18, 265 850.250 92155 7 7. b 576.789 51,813 Minneapolis. St. Paul A s.S. Marie ... 951.5 90.8id 26 67 719.104 719,104
Pittsburg and Shavaut ................... 84.966 108.411 62,720 4,114 25.510 northern Pacif ................ ..... 33.692 2,386;960 1,268,1 424,000
Pittsburgh & West Virginia .............. 274352 166,777 190.048 89,551 118,506 56,593 Spokan International ................ 4051 21.739 1' 3.272 5,406
Wabash ................................ 2,035.641 1,922,270 1.622,782 1,1471.889 1.048.709 880.352 598.186 598.186 Spokane, Portland and Seattle ........d 60.565 214,602 61. 349751 -
Wisconsin Central d ............... 137.065 231.396d 176.322 87.166- -
Central astern arion Total .......... 9,819.218 7.268,832 d 558.597 Id 3500,331 6,357.122 14.4o.990 952.910 1.209n.45
oCntran Western aReion Total ....... 26,300,696 30,397.706 22.53.079 21,553.751 15,068.05315.703.623 16.939,732 9,097.990
Akron. Canton & oungstown .............. 193,676 141.325 163,1474 112.637 99.796 6859 -3397706 225307921553751 15 1703623 16939732 9097990
Baltimore amd o ................... ..69 5 4 41456 201.110- Atchison, Topeka and Santa e / ..... 7.780,700 8.050,969 6.860.681 6.907.397 4.663.374 4,714,856 3.640,590
Bessemer and Lake rie .............. 366.563 455428 202 265192 170.200 202,350 Chicao, Burlington a incy......... 4,48.232 6.232,051 4,1o431 5.703,099 2,680,000 342700
Central R.R. of Nov Jersey* ............ 1.16801 d 1.769.176 926.00 4040 0 Chicago, Rock Island and Pacific ..... 1,725.338 3,142,088 1,146.455 1.161.723 703,000 77,400
Central R.R. of Pennsylvania ............ 3 I25 26 20 1.1400 1,600 Colorado and Southern ................ 126567 106.345 65,206 40.88 98582 83.018 -
ChicagoA E astern Illinois .............. 269,251 2.579 74.315 d 4308 147,0 d 15 0 Colorado & Womingc ................... 100,691 58,683 101,456 46.257 62,200 38,100
Chicago & Illinois Idla d .............. 302.09 245.349 233.920 192.21 143.300o 117o0De Dnver and Rio Grande W.tern ........ 2,130.655 987.229 1.526.569 310.949 34100 1,978,242
Chicago. Indianapolis an LouTisille .... 232,412 d 180 796 111.017 d 287.256 4606 ort Worth and Denver City ........... 225.512 216.393 56.742 44.683 60.822 53.44
Detroit, Toledo and Ironton ............. 670,055 ,210 622.911 57,2 328,065 340,640 Northwestern Pacific ................... 5901 66,786 d 5 77.7 -
lgin. Joliet and astern ............... 846.694 796,002 799,526 743,672 535.702 491,789 acramento Northern .................. d 11.837 d d 1.3 d,,0 d7 ,- -
Illinois Terminal ....................... 242.567 9506 147.992 156.353 109,00 114.000 Southern Pacic ..................... 599.85 5.57 88 32.21 1, 865127 2.2.595 3772.763 3.772.763
Lon Island ............................. d 69.1555325 2.466479 1 .293 Southern Pacific Tranep. System j/ ... 6.760.002 7.675.688 4.339.261 5.703.318 3,006,918 3.613.658 3.772.763 3.772.763
Missouri-Ilinois ........................--151753 -- 21i815 10069 1 .100,000 76.000 Toledo, Peoria & Wetern .............. 104.191 72,007 96.016 6 58.848 -
Pennylvania ............................ 1.313.595 5 1.529 631 2.2823 d 5.00622 2,667000 818529 nionPacific ........................ .4,1 6.741 6029499 8,261.918 4,500.000 4.100,000 7,548.132 5.325.227
Pennylvania-Reading Seashore Lines ..... d 826.626 7 3 d 983 193 d 9. 61,272 53,56 Utah ................................. 3.111 51.471 21,568 38.66 26.500
Reading ............................... 1210,997 1.87i 698 125 .239. 385.727 879,24 699,618 699.618 Western Pacific...................... 638.959 83,844 133.993 3395 32.000 7.000 -
Staten Island Rapid Transit.. ............. d 139.46 d o. 2. d 2062o 0 _
Western M1aryand ... .............11 6 1.23093 9.7 711., 561,000 543,000 Southwestern Rion Total .......... 13093.798 14.019.795 6,607,022 7.125.928 4,819,352 4,063,486 683.838
heeling and Lake rie. .................. 1.203782 986680 1,207,581 958,536 742.000 583.000 253,292 509.827 oo- n-- ......,
Beaumont, Sour Lake & Western" ...... 1 429,149 318.660 426.540 295.372 193.000o 47.500
Southern District Total ............... 33,805.272 34,885,539 24.171.516 25,655,934 4.,345.638 15,589,413 14.225,605 12,944,083 urllington-Rook Island .............. d 7.676 17.793 1 202 -
International-Great Northern** ....... 202.083 4 10172 j a 426- -
Poeahontas Reion Total ............... 12,642,438 15.581.510 11.124,667 14.133,268 6.582.050 8.587,041 11,029.550 10.041,011 Kansas City Southern ................. 1,440,8 1.033,26 1.116.845 718778 700,000 370.000
SKanss, Oklahoma & Gulf ............. 169,786 198,245 150.581 177.560 116.570 117889 -
Chesapeake and Ohio ..................... 4,925.100 8,031,290 3.683.294 6882,090 2.245.625 4,142,531 6,028,313 5.743.015 Louisiana & Arkansas ................. 475.957 408,075 446673 354338 362.000 232,000
Nortolk and Western ..................... 5.973.738 5.392.260 5.955.604 5,345.677 3,425,000 3.275.000 4.219,449 3.516.208 Midland Valley ....................... 53,528 57.192 42040 39.64 33026 26,403 -
Richmond, Fredericksburg and Potomeo .... 403,215 4822,998 12 4 513.376 252.000 315,000 Missouri-ans as-Texas................ 640, 666,605 172,612 214,808 86,000 184,000 -
irinian ............................... 1,340,385 1,674,962 1,073,735 1,392,125 659.425 854,510 7188 781788 i,7 M ouri Pacific .............. 2,336,1 4.301,862 26 1,670,881 590.000
eaw Orleans, Texas & oo ........ 68.651 526.102 32.07 77.352 3000---
Sothern Region Total ................. 21.162.834 19.304,029 13,046.8149 11.522,666 7.763.588 7,002,372 3.196,055 2.903.072 Oklahoma city-Ada-Atoka .............. 11.991 24.822 5.589 18,584 8.726 12,389
SSt. Louis, Brownville and Mexico* .. 776,988 464,114 661422 350,44 286,000 56,500
Alabama Great Southern ................. 391,576 242.675 341.458 191.648 235,000 134,000 St. Louis-San rranolsco .............. 987,996 1.325,451 268.816 431.819 183050 372,000 -
Atlanta & Saint Andrew Ba .............. 76,84 51,100 70,310 4,414 43.228 36,245 St. Louis, San Francisco ad Texas ... 28.390 55,844 20,209 38.005 18,000 15.000
Atlanta and West Point .................. 25,365 193 35.365 d 88 20,664 St Loui Southwestern ............... 1,797,747 1587624 1,488.1 1149.696 1.093.189 827,742
Atlantic Ooast Line ..................... 2,662.109 1 b559 3.155.152 9 600,000 500.000 823,427 823,427 San Antonio, Ulde Gulf............ 149.78 214 a 1. 88 24 9. 1 ,o, 1,.0 -
Central of Georgia'* .................... 9.919 d 323.92 814.853 d 1.002 607 27,647 27,649 Texas and lew Orleans ................ "2,.16,149 2, 097200 1b1 .4,23 1,141,791 1,131063 -
Charleston & Wetern Carolina ........... 52,055 9793 789 5244 5.000 Texas and Pacific ................... 1.198,861 1073.145 876. 729.9 575.000 69.000 683.83
Cincinnati, New Orleans and Texas Pacifi 1.147,825 860,779 852,888 571,066 615.000 470,000 20.445 20,5 Tas Mexican .......................... 58,010 88,422 40,308 66189 20,000 12,000


Report of receiver or receivers.
* BReport of trustee or trustees.
d Deficit or other reverse ite.
S Includes Boston & Albany, lessor to New Tork Central BRR.


b/ formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
/ Includes Atchison. Topeka & Santa fe 7., OGulf, Colorado & Santa Fe By., and Panhandle & Santa Fe sy.
Data not included in totals. Includes Southern Pacific Company, Texas and New Orleans R.R. Co., and leased lines.


U. S. GOVERNMENT PRINTING OFFICE: 1948--0-750193





T1-/beet : 94 Lg i


Subject to revision


UNIVERSITY OF FLORIDA

Illlllillll Hll IIII III llll 1111111 1111n11111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1703 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-12
MARCH 1948


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of Maroh For the three months of For the month of March For the three months of For the month of March For the three months of

191947 19 1947 1948 197 19 197 1918 1947 194 1917 1984 1947 194 1947

1. Net railway operating income....-..........----60 724 331 073924 145 $142646578 $176243934 019234174 $21722 460 $32772643 $41149950 $3463919 09632463 $16 106 357 025 213973
2. Other income..........------.. ...... -- 17 285 602 15656 104 56 077 735 48 029 601 7 155 526 8 013 766 28 535 612 25560927 542 948 604 514 2 233 321 1 971 464
3. Total income..... -...........- .--- .... ----78 009 933 89 580 247 198 724 313 224 275 535 26 389 700 29 736 226 61 508 255 66 710 877 4 006 867 10 256 977 18 339 678 27 185437
4. Miscellaneous deductions from income ... .......915 897 3 241 415 11 202 887 9560 477 850148 721 774 2 237 635 2141795 444 184 443 669 1 557 161 1 133260
5. Income available for fixed charges ............ 74 094 036 86 338 832 187 521426 214713058 25 539 552 29 014 452 59070620 64569082 3562683 9793 308 16 782 517 26052177
6. Fixed charges:
6-01. Rent for leased roads and equipment...........-- 11133 636 10810769 31193 564 31724 786 6 976 483 7 197 813 20 867534 21198 756 13 852 14 942 43481 46965
6-02. Interest deductions l/ ..---------.----...-- 24 220 565 26 044 519 72799038 78 525 63 10520343 10924 057 31716144 32814077 1034533 1041502 3095613 3 131 534
6-03. Other deductions..................------ 145 570 136 445 425190 410 491 44 941 38 469 123 149 111 572 2230 1 462 6688 5 008
6-04. Total fixed charges ...........---------- -.. 35 499771 36991731 104417792 110660907 17 541767 18 160 339 52706827 54 124 405 1050615 1057 906 3 145782 3183507
7. Income after fixed charges 3--... _- 3..... 8 594 265 49 347 101 83 103 634 104 052151 7 997 785 10 854 113 6 363 793 10444 677 2 512068 8735 402 13 636 735 22 868 670
8. Other Deductions .. ------ ................ ......... 3 147 705 2708 989 9 604472 8 151 587 1 341 534 1 033 575 4 070473 3 072 354
9. Net income.......... 35 446 560 46 638 112 73 499 162 95 900 564 6 656 251 9 820 538 2 293 320 7 372 323 2512068 8 735 402 13 636 735 22 868 670
10. Depreciation (Way and structures and Equipment) .... 30 471 453 29 368 501 90 762 541 87 077 270 12 290 123 12 210293 36 580800 35 891973 2 233 226 2 153 555 6 653 260 6 444 708
11. Amorti ation of defense projects ...-.... ......---- 1 369 805 1 351 572 4 42 679 4 07196 464 296 468 085 1 392 515 14335 76 69906 59 144 210276 178 096
12. Federal income taxes................... 26 104 975 30 265 133 71 337602 74997 353 6 686 811 6 193 707 17 364056 14484664 1368369 5 208 478 7 950419 13795519
13. Dividend appropriations:
13-01. On common stock ...... .......--------- 9 725 988 12 152 596 38 966 044 34456 494 7 173 661 7 162 164 8065139 8 053 642 10 856 559 10041011
13-02. On preferred stock.............----- 11 372 449 2 572 569 17 966 393 7 919 766 610.238 615 846 3 393 319 3 655 448 140 000 172 991 140000
Ratio of income to fixed charges (Item 5+6-04)... 2.09 2.33 1.80 1.94 1.L46 1.6 1.12 1 1.1 3.39 9.26 5.33 8.18

SOUTHERN REGION WESTERN DISTRICT
SOUTHERN REGION ___WESTERNILLIONS NET INCOME- ALL CLASS I RAILWAYS m uo.
IOF DOLLARS OF DOLLARS
Income Items For the month of March For the three months of For the month of March For the three months o I00 100

19481 1947 194M 1947 1948 1947 1948 1947

1. Net railway operating income ................---- 12 729 959 (11949 009 #33 892793 (31 253 038 $25 296 279 $30 620 211 $59 874785 $78 626973
2. Other income.............------ -----... .. 1181593 1068 976 3744054 4 036 098 8 405 535 5968 848 21564748 16459112
3. Total income.-...............-- ...-...--- -----.. .. 13 911 552 13 017 985 37 636 847 35291136 33701814 36 589 059 81439 533 95086 085 ___ __
4. Miscellaneous deductions from income.................-------- 610683 595 967 1 394335 1659830 2010 882 1 480 005 6 013756 4625 592
5. Income available for fixed charges................-- 13 300 869 12 422 018 36 242512 33631 306 31690 932 35 109 054 75425777 90460493
6. Fixed charges: 40 40
6-01. Rent for leased roads and equipment................ 877 903 836 761 2589337 2459 832 3265398 2761253 7 693212 8 01923340
6-02. Interest deductions/ ........--3. 753 572 3 743 927 11 293 931 11217 760 8 912 117 10 335 033 26 693 350 31 362 259
6-03. Other deductions-............... ........... 23 771 23703 70332 71516 74628 72 809 225 021 222 395
6-04. Total fixed charges..................- 4 655246 4 604 391 13 953 600 13749 108 12252 143 1169 095 34 611 583 39603 887 o- \- ---- -.. to
7. Income after fixed charges.-...--.......... ----- 8645623 7817627 22288912 19882198 19438789 21939959 40814194 50856606 I
8. Other Deductions .......... .......... 304 424 261 017 900 864 802921 1 501 747 1 414 397 4 633 135 4 276 312
9. Net income..................................-- .. ............. .............-- 8 341 199 7 556 610 21 388 048 19 079 277 17 937 042 20 525 562 36 181 059 46 580294
10. Depreciation (Way and structures and Equipment)-..... 4 035370 3738 984 12063590 11111573 11912734 11265669 35464891 33629016
11. Amortiatlon of defense proJect ................--- 212 092 218 759 636 031 657 644 623 511 605 584 2 184857 1 802 646
12. Federal income taxes......................... ------..... 5 440893 4993 977 13 204481 11 996349 12 608 902 13 868 971 32818 646 34 720 821 0
13. Dividend appropriations:
13-01. On common stock ................---- 9000 3 184610 2882627 2 543 327 4990432 16 859 736 13479214
13-02. On preferred stock.............-..... ....------ 14 108 14 213 34553 34 658 10 748 103 1 802 510 14 365 530 4 089 660 -40 I I -4
S o i MAMJ J ASON J FiMAXM)J J A N0 N J FMA J J6ASOMD
Ratio of income to fixed charges (Item 5+6-04) ... 2.86 2.70 2.60 2.45 2.59 2.67 2.18 2.28 1946 1947 1948


Seleted Expenditure and Asset Iteas


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
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 Net balance receivable from agents and conductors-
27. Miscellaneous accounts receivable ........................
28. Materials and supplies-.....- ............ .......
29. Interest and dividends receivable.... ........ ..........
30. Accrued accounts receivable ...... ......
31. Other current assets ................................
32. Total current assets (items 21 to 31).....-....


UNITED STATES
Balance at the end of Marah


Selected Liability Items


UNITED STATES

Balance at the end of March
1948 19 7


- 1 1 r_


059,022,247
20),158,847
?J.732,051
'8513' 09


$0,85,792
100,728,7841.


10. Funded debt maturing within 6 months 2J/


41. Loans and bills payable /--......--- .....--....---------.
42. Traffic and car-service balances-Cr.- --- ..
43. Audited accounts and wages payable .. ..... .......
Miscellaneous accounts payable................................ .
I. Interest matured unpaid.....................
4 Dividends matured unpaid.............................
47. Unmatured interest accrued......... .... .... .................
4g. Unmatured dividends declared ......................-
49. Accrued accounts payable........... ... ... .....
50. Taxes accrued .................. ..... .........
51. Other current liabilities ... ... ................................................
3o. Total current liabilities (items241 to 51)


53. Analysis of taxes accrued:
53-01. U. S. Government taxes ................
53-02. Other than U. S. Government taxes
54. Other unadjusted credit ... ..................s.


d Decrease, deficit or other reverse item.
T/ Represents aooruals, including the amount in default.
# Excludes Missouri & Arkansas Ry. Co. Road not in operation.


$152,182,623


3.95,000

497.58 _65
227,72 678

66I8F1,777
23,210,308


1.927.165,.638


8,935.000
2:2:91:67,

1606.120.40
:,49,276



1.606.383.340


. 7:1, 62 11
335,637,.61 352,736,611


ANALYX8I OF NET INCOM--ALL CLASS I RAILWAU X


Period


Report showing
Met Inoome
Number Amount


Reotssown


Reports showing
Not Deficit
lumber Amount


March 194 92 ,95,191 31 (9,448 ,61
MarOh 194 96 52,120,244R 2 5247 s2
3 months 1 87 112,959,531 3 39, 460,
3 months 197 87 120,209,822 35 24309,258


Exclude reports of road whose net income
(or efilolt) was absorbed by the controlling company.
Period Number Exoluded
March 1948 4
March 1947 4
3 months 19 4
3 months 1947 5


2/ Includes payments of principal of long-tera debt (other than
long-term debt in default) which becomes due within six months
after close of month of report.
SIncludes obligations which mature not more than one year after
date of issue.


1 9Jiu'48


1


__~~ ~ ___,~__ ,___ ~ ~ ~~)


$180,084,719


I


:j








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 1948 AND 1947


tPa 2


SE nL& I oFr ammao ISm OzDIVI8DD IEN 9 uLR LWAY m n I. = 1A =oI tmp

egLon and rail y Region and railway
1948 19 1947 1948 1947 1948 94194 1947 1 8 1937 1948 1947 194 1947 19m 7

united State ts. .................. 2$1) 646.578$176.243.91 $73.499.162 895.900.564 $71.337.602 $74.997.353 $56,932.437 $42.376.260 Southern Reion Contin
sern District totl ..376.............. 2.772.3 1.1 950 2,293320 7.372.323 17.364,056 14.41.664 11.,4581, .o1,709.090 o f .......................... 6 .1.6 9 2.0787 *$162.561 *162. -
Colunnbs and Greenville ............ 56. $55.951 314.052 1,653 -
IE lalan RNagon total ............. 503,210 2.172.953 d 2,480904 1d 1989.653 1,007,242 962.672 66,442 66.428 noridta at Ouste ................. 1,529,560 1. o. 457-36 o,000 .0
Georgia LL L esse Organisation ... 222,86 59., .....3
ngor nsa Aroostook .................. 1,118,241s 09,1 983.914 689.975 721,708 405914 47,850 47,850 Georgia 6 norid ...................a a 1 64 A 6..a -
oston and Maine ....................... 311.909 1.3a0,s39 679 289,357 511.49 301, Georgia Southern an 1lorida ......... 171.013 1.77 93 2 1.1 62,000 46,000 -
Canian National Lin esIn No glan 316.53 0 2a57.34 Gulf. Mobel amn Ohio ................ 1.,56.007 1, 0,7h9 867.722 975,29 532,000 465.162
oannadio Psio LineU in t ......a .s -- -- Illinois Contra .................... 5.7.763 .6,889.72 3.190,2 5 4,528,79 2.077.000 2,897.0000
Canadian Pasoio mfne in Vermnt ..... 3 Louisvlle ad aushvilne ............. 4,119.5 4.98.380 3.35.26 1 4.360,103 2.013,025 2.800.0o00 .2.059.200 $2,059,200
Central Vemont ........................ .. 40.1 141.8 21.287 17,153 Mssissippi central .................. ..454.50 27,187 18.969 15,112 17,518
Main* Contra ......................... 570.139 530,317 2 0 123.322 157.35 16,592 1.,578 Nashville Chttanooga & atLou ... 542,667 45513 261,401 17 169,116 12,220 255.9
o To connecting .................... 2 53 75 .2 1. N Orians and lorthust ......... 612.,069 544 6 390,000 255.000
lew Tok lew Mven nd Hartford ...... 1.100. 8 1 204 1u.976 10.20 Norfolk Southem ..................... 143.717 104.935 7 13,550 52.451 7,62 37.001
Rutland* ....................... ... 2 5. 20 Seaboard Air Lina .................. 3,620,219 3.157,6 2.73.704 22,90519 1,270,000 955.0000
Southern ........................... 7.121.727 5.660,.34 4,6.721 2.91115 3,065.000 2.170.000
Great Lakes ion total............. 15.293,511 20015,399 5.157,265 6,;13,860 0 ,110.49 6,092,58 3,323,125 3,323.123 ennesseo Central ................... o 27 d 26, P.11 71,629 _

Cambri Indiana............. .. 6,714 1 45. 200 77 d 21. 1 2049 14.So 60.000 60.000o Wester District Totl ............. 59.774.785 78.626.973 36.,1i1.05 46,580.294 32.s1s.6 34.720.ga21 31.225,266 17.56g.74
Delarn ead Hu1son ................... 1.432.706 1,505,215 1,015.3.66 1.076.7 656.000 743,000 -
Delaware, Lackawanna and Western... 1,606,875 1,725,562 415,365 472.629 211,40 32.676 -
sDtroit and Mackina ................... 130,175 97,23 106 71.587 66.630 39.569 orth r s io Tot .......... 3...835.879 9.2...093 .4.99 4 146.839 546,074 2.33,0O2 5.552,224 1,1s. 14
Detroit and oledo ahor ine ........... 323.098 359,576 299.422 334.50 1s7,069 207,956 60,000 60,000 ----
rie ................................. 4,011,538 2,532,298 2,46.049 997,984 1.524.66 589761 2,017,021 2,017,021 hicago and orthestern ............d 2a 175.655 1 d -
rana runk t sto r ............. .. 198,163 936,774 d 2..976 gj.- Chical e Gret Western ................ 1 3 6o.57s 5. 270,000 04 -
Lehigh and odson river ............... 62.177 106858 3 46665 72.19 47,7,0 o o0 co. l St. Pau A Poit 920.7 4,5,19 8 3.1 55 1 4,486.960
Lehigh and Iw lo gland ............... 271.417 233,9 3 2392s201.43 150.1 123745 hicao, St. Paul, Minneapolist. Oh 17.493
Lehih Vll .......................... 771895 1,623.892 661 90 3 ,935 4 .0 a D6 0 uth, M lsebe and Iron ane ....... -
Monongahea........................ 29.633 37.3 103S 326.838 3 13. Dul th, South Shore *d Atlantiae.... -
Montour ................................ 17.472 1917 171.744 18.919 105, 115,003 Duluth. Winnipe and Pacific ......... 145.80 62. -
Nwo Tork Central Al.............. 2 2. 794.,3249 d .2 96 .2 d 2 395g26 140,.215 reat northern W ........................67 756
ew YorkChic and St. Louis....... .. 3 2797530 3 2 22 2 1,725 i0 10 5,6 Orn a an W tern ................7 9101,7 7 956 75 9.50 107 719 2 12500
Slok, Ontario mn Vestern* .....00 : a keSuperior s Ibpeing ............ 173290567 290270.901 53550
soe York, Suquehanna and ete. 5::: d inneapolis & St. oi, Louis..............., 4 ,31 .7 173,567 290.901 150.000 150o000
Pittsburgh and Lake rie ............. 1.2886,133 o1, 62 Muneaupolis, St. Pal & A.8. Mare .,, a 2 10.2 121 1 14,014 719,10 719.104
Pittsburg and Sha.t ................... 126356 11.928 92774 47 37 5 Northern Pacific .....................1. .4.036.94 1T 1,9.40,o5 oo -
Pittsburgh A West Virginia............ 434, 2090 307,66 163, 7 191,695 102,810 Spokane International ................ 37,177 37.290 6 8.303 4.000 5.06 71,160 71.160
Wabash ................................ 3.07,5143 3.0s.979 2 1.457.232 2.421.8159 1.590.3 1.4268.o3 598.186 598.186 Spok n, ntrPorn al d o.......... .... .7.9 1
oi ntr3 ............... 62, 673,
Central astanRgioag total. ......... 16.975.922 18,961,598 3,041 2.548,116 8.246.316 7,429,409 8.068.891 6,319.539 .
_ontrao Weostrn egia reos ...4... 42.115.1314 47,039,677 36,902,511 314,144,395 24,191,672 25,2356.31 19.757.5314 15,556,222
Akron, Canton A Youngstown ............ 302.87 239,630 250.517 192,.02 153,003 117.22 92,377 6,14l93
altimore and Ohio. ................. 43 7. ,3087 75 33 1 1.861071 373 2 49 Atohison. Topeka and Santa We .... 12.589,466 11.564,477 11,090.663 9.0.366 .7232,907 7.111.29 3.640,590 3,640,590
seor nd Lake ui ................ 535525 74781 268979 466 .3 216560 y ,0 Chicago, ornton qinoy ......... 7.41,422 9.869.350 6,35.926 8.957.3 4.159.100 5 0,7o -
entral R. of oew Josel* ............ 1 1173 .446 1. 32. 530 4 6006 Ohicago, awk land and Placifi ..... 311.41 .188,1. 37 262.4 2,201,466 1,36,000 1,4723 -
Central. a. of Pennslvnia ........... 212, 712. 13,7 0 1 2,100 2,6 Colordo nd outhrn ................ 229.862 173. 135.796 77.318 173.815 132363
Ocal o la tern Illinois ............. 400:930 132.5 119.790 77.2o0 4,0 Colorado A Wyomino ................... 159.042 s8.732 13 917 70,154 s0,00 1, .
Chicao A Illnis 11Midlad1 ............ 7.529 385402 3.657 304.303 131.00 183,400 DearW a s rae Wetrn ........ 2.835.836 1.716,382 1.786.52 701,321 323.100 166 1.978.
Chicalgo, dianapolis and Louisville .. 1 223.091 & 3. 4606 Port Worth and Dever City ........... 270,684 307,813 ,616 41.9 40,236 63.47
Detroit. oldo an Ironton ............. 965,331 8921.4633 .8 5 467.82 516.578 sorthrwstrn acinfo ................. & 1 32,119 a .20
lin, Joliet and asern .............. 1.353,007 1.31 .l2 1,2 0.769 1.3121 880,99 8630,112 sacramnto other .................., -d2 ,
llinois Tersinal ...................... 409.17 405.936 269,5 267.872 191.700 191.500 90,000 90.000 southern Paifico .......................1, 2. 3668,45 4303821 3772,763 3.772763
lo Islnd ....................... .. 40 2 2 3....4. 2 outhrn Pacific ntrap. System ... 1 8, 6 736 9,99689 989.520 5,626. 6,2 ,962 3.772.76 3.7727
sour-llTniol ..................... 23 14143000 123,000 Toledo. Peoria A Vestenr ............. 172.819 25,37 156,o 2.7 95.6 9 -
Pnsylvania ........................... 2,436:711 3,2766 a 46o 2 2.751.00 1,227,793 6,553,877 6.583.877 Union Pacifi ......................... 299.737 9. 63,1 12.460.129 o, 7.000000 6,600,000 7.548137 5,325.227
Pennsylvansim.Rdig Seasahore Lines-zg ... 1 1 16,1541:4903 0, t 968............. a 2 940
Red .i.ng. .. ............ ....____ .200 .2 5. 824 210. 32007...........000-0 2,6174.,52 2,177.30006 142,000 2
e di........ .................. 99.15. 51 3 4 4r Pa ......................1.9 348. 97 231.9 204O 2. 9 =17,642
Staten Island Rapid ransit ............ 21.5 1 3.121 a .6A 22 .88.5 -
estern Marylan~ ....................... 1, 1 1.85.37 1.1. 1~. 732, 000 23000 Southwestern Region total........... 21.525.530 22.303,203 12.293.513 12 2.. ,738 ,00,900 7,146.905 5,915,48 893.,38
Waolng Lake rt ................. 1793,A6 1,631,900 1,782.31 1 583.0 1.0 ,oac 68.000 253.292 5,
r .mmont, Sour Ia. A nter ...... 7514,630 57s, 9,825 537,537 303,000 162,500 -
nthmrn Distriot total ..............1 9.999.1350 56.1467011 35,024,783 41.147,947 21.,154900 25,791, 68 14,24.,713 13,.09s,296 Rliamt on-aok ZIsland............... .16, 4s 16.31 76 2 -
International-Great orth ....... 170,674 93.527 -
Poohontsa lsa on total ............. 16,106.357 25,213.973 13636.735 22 ,6706 7950419 13.795.59 11,029.550 10,11.011 Knss oity Southrn ................. 2.234.213 1,652.910 .6 .1,100,000 690,000 21o.0 0 210,000
Kansas okl.aho A Gun .............. 237.025 322.17 2,07.36 .143 17.853 1.861 -
Chesapeke o Ohio ................... 6, .9 185 12,3 720 4.3.380 11,14,9 2.671.223 4 6.6416, 44 6,028, 3 5.883,015 Louiiana &Arkansas ................. 72.9 43.551 6, 6 1 3,o 1o o0 75.0 -
orfolk and Wester .................... 7, 0427,1 6.8.36 7,521,212 6,610,03 4.225.00 5.30000D00 1. 19,49 3,516.20 Mit tnd Valley ....................... 62,871 93.629 41,407 .32 37.605 46.690 -
tihamntd, Pradericksbr and Potom ... 46 872, 630.16 1 2 37.1 562000 Missor t i-anslame-te ................ 1,S,093 1.106,9711 400.915 419,225 220;000 ~.O000. -
Virgisan ........................... I. 1,85. 12 1,309221 2 2,9 6l M ,35 1.2775.0395 71.7 66 61,78 t1MissouriPacifioso .................. ..... 3.913.3 6.192.615 43.0 2.791507 850,000 0
"nw Orleans, teuT A Mxsieoo ......... 799,392 834,319 145.726 15.9 59,000 two -
outhernm Lgon Total ................ 3392.792 31 ,253,03R 21,38.,0S 19.079.277 13.204,481 11.996.349 3.219,163 2,9172 Oklahom Cit-t-d-Atok .............. 20.93 .30.95 10.3720,3 169 1 .677: -
St. Louis, Brownsville and Mxioo9 1,141,6 767 621,77 88,0-
Alaba Great Sonthern ................. 3 320,6 277307 325000 4,000 St. Louis-anrancico.............. 1777.50 2,22 6563313 050 712000 3.092.985
Atlanta A Saint 6Andrw N:y.............. 107, 613 76.o 66,106 60,44 9000 S t. Louio, rsoo and sras .. 9 1 1a 70069 g,000 1,000 3 -
tlants and Vest Poin ................. 3. a 712 62,717 6 .225 St. Louis S stern ............... 3,107, 2.411.979 2.5.16 1,786,445 1.897,704 1,3,86 1853,6
Atlantic CoastLim .................... 1122, .7 41, 3 15,,000 700,000 ~27.312 627. 417 n Antoao. Uvalde A Gulf .......... 22.2 266. S 21. --
Central of Georgis* ................... 1. 4 1 2 d 1 4 41,:471 411173 t u ea5 e on lma ................ .2 1957,826 1 6,11
Oharleston a Westrn CarMti .......... s7,90s 235- 10,000 tnas and P3io ...................5 1,706,1 1, 67 1,191.235 834,12 106,000 6838 36 683.83
ointnannti, wor ean aate sPacifi 1,95,993 1,.32,1 1 1,035,000 795.000 3,66o 30,665 teanMeican ........................ 105.173 163.741 77.2 15.110 39,731 ,18000 -


* Report of recover or receivers.
* port of trustee or truteee.
' Deficit or other reverse Ite.
/ laolaues RBoton A Albet,. lessor to New Tork Oentral LB.


Formerly nolud In report of Mileapolis, St. Paul AB* t St*. Marro.
/ Includes Atchison. Topeka A Santa Ne S., Oulf, Colorado A Santa sFe t., and Panhandle A Santa e* my.
/ Data not included in totals. Includes Southern Pacifio Coopany, fxas nd N lew Orl.eas L.. Co., an d lased lines.
U. S. GOVERNMENT PRINTING OFFICE: 1948-0-750193





t i/ ,6- '( : & /SI4


e, C


UNIVERSITY OF FLORIDA

II I I 11111111111111IIIIII 111111111III
31262088511711 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of April For the four months of For the month of April For '.he four months of For the month of April For the four months of
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947

i. Net railway operating income. $53 104 074 $59 459 540 $195 750 651 $235 703 472 $14 818 894 $18 082 559 $47 591536 $59 232 509 $2 764 943 $4 225 443 $18 871 300 $29 439 416
2. Other income... 16065108 18700 035 72142845 66 729 641 7454834 8757 941 35 990447 34318869 568 338 1074883 2801659 3046347
3. Total income .. .... 69 169 182 78 159 575 267 893 496 302 433 113 22 273 728 26 840 500 83 581 983 93 551 378 3 333 281 5 300 326 21 672 959 32485 763
4. Miscellaneous deductions from income .......... 3 663 872 3 397 361 14. 866 758 12 957 838 563 957 729 044 2 801 591 2 870 839 504 041 307 321 2 061 202 1440 581
5. Income available for fixed charges......... 65 505 310 74 762 214 253 026 738 289 475 275 21 709 771 26 111 456 80 780 392 90 680 539 2 829 240 4993 005 19 611 757 31045 182
6. Fixed charges:
6. F01. Rent for leased roads and equipment 10853542 10112 254 42 047 108 41 837040 7083758 7021580 27951293 28220337 13971 14 574 57452 61539
6-02. Interest deductions. .. 24348617 26015 020 97147654 104540652 10614342 10928089 42 330486 43742167 1039182 1043649 4134795 4175183
6-03. Other deductions 142 712 139 024 567 903 549 517 40 352 41493 163 501 153 065 2229 1 463 8917 6 471
6-04. Total fixed charges ... 35 344 871 36 266 290 139 762 665 146 927 209 17 738 452 17991 162 70445280 72115 569 1055 382 1059 686 4 201164 4 243193
7. Income after fixed charges ......... 30160 439 38 495916 113 264073 142 548 066 3971 319 8 120294 10 335112 18 564970 1 773 858 3933 319 15410593 26 801989
8. Other Deductions 3244 194 2 8035 991 12 848 666 10 955 579 1424 446 1 029 043 5 494 919 4 101 597
9. Net income..... 26916245 35691925 100415407 131 592 487 2546873 7 091 251 4 840 193 14463573 1773 858 3933 319 15 410 593 26 801989
10. Depreciation (Way and structures and Equipment). 30 773 529 29 305 570 121 536 069 116 532 848 12438 533 12 146 989 49 019 332 48 038 962 2 235 983 2 152 930 8 889 243 8 597 638
11. Amortization of defense projects--- ...- ------------ 1366669 1339 356 5790349 5411317 462 851 475 025 1 855 366 1908601 69903 55 440 280179 2335536
12. Federal income taxes.......... .. 20205989 21 600082 91543591 96597434 6034 413 4971376 23398469 19456040 1030458 1976 680 8980877 15772199
13. Dividend appropriations:
13-01. On common stock-p 2 2956 177 3 052 627 42 344427 37509121 20000 20 000 8 507 345 8 073642 10856559 10 041011
13-02. On preferred stock:::::.... 1 204 088 3 589 507 19 170481 11 509273 414603 555 033 3 807922 4 210481 219 904 219 902 392895 359902
Ratio of income to fixed charges (Item 5-6-04) 1.85 2.06 1.E1 1.97 1.22 1.45 1.15 1.26 2.68 4.71 4.67 7.32

SOUTHERN REGION WESTERN DISTRICT
SOTER EIOETENDST Ts MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
OF DOLLARS OF DOLLARS
Income Items For the month of April For the four months of For the month of April For the four months of 100 100
1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income .. $9107064 $8 463 547 $42 999 857 $39716 585 5 26 413 173 $28 687991 $86 287958 $107 314 962 80 80
2. Other income... 1616 334 3 375 872 5 360 388 7413971 6 425 602 5 491 339 27 990 351 21950454
3. Total income- -..... ... ...... 10 723 398 11 839 419 48 60245 47 130 556 328 38 775 34 179 330 114 278 309 129 265 416
60ec _60
4. Miscellaneous deductions from income 392 518 468 334 1786853 2128165 2 203 356 1 892662 8 217112 6518253 60 __ 60
5. Income available for fixed charges3............ 10 330 880 11371085 46 573 392 45 002 391 30 635 419 32 286 668 106 061 197 122747 163
6. Fixed charges:
6-01. Rent for leased roads and equipment.... 857 811 891 349 3 447 148 3 351181 2898002 2 184 751 10591215 10203983 40- 40
6-02. Interest deductions/ .3 751 508 3 776 319 15 045439 14 994 079 8 943 585 10 266 963 35 636 934 41629 223
6-03. Other deductions .... 24 665 24 798 94997 96 315 75 466 71 270 300 488 293 666
6-04. Total fixed charges ......... ............. 4 6 984 4 692 466 18 587 584 18 441 575 11 917 053 12 522 984 46 528 637 52 126 872
7. Income after fixed charges ---*-*.. 5 696 896 6 678 619 27 985 808 26 560 816 18 718 366 1763 684 59 532560 70620291 20- ------ 20
Other Deuctieonsr f 262926 263472 1163790 1066393 1556822 1511476 6 189957 5787789
9. Net incomedi 5 433 970 6 415 147 26 822 018 25 494 423 17 161 544 18 252 200 53 342 603 64 832 502
10. Depreciation (Way and structures and Equipment).. 4 060 302 3 760 595 16 123 892 14 872 168 12 038 711 11 245 064 47 503 602 44 874 080 0 ----
11. Amortization of defense projects ....... ..... 211 979 220 375 848 010 878 018 621 936 588 516 2 806 794 2 391162
12. Federal income taxes .. 3 413018 3 270 067 16 617499 15266416 9728100 11381959 42546746 46102779
13. Dividend appropriations: -20
13.01. On common stock.. 2 882627 2882627 6 067237 5765254 53550 150000 16913286 13629214
13-02. On preferred stock. 569 581 10 222 604134 44 880 2 804 350 14 365 530 6 894 010 -40 1 1 I I I I I I 1 1-40
J F MA M J A5SO NDJ F MA M J J A SON0 J F MAM J J A SON
Ratio of income to fixed charges (Item 56-04) .2.23 2.42 2.51 2.44 2.57 2.58 2.28 2.35 1946 1947 1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items B e at te ed p Selected Liability Items ANALYSIS OF NET INCOME-ALL CLAS8 I RAILWAYS
Balance at the end of April Balance at the end of April
1948 1947 1948 1947
Reports showing Reports showing
17. Expenditures (gross for additions and betterments- 1,456253 71620,64 40. Funded debt maturing within 6 months 2 $153,964,71 181,914,311 Period Net Inome Net Deficit
Road ............ .... ... .. 81, 45 6,25 3 $71,620 ,364 7
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable / 3.,175,000 4,750,000 Number Amount Number Amount
Equipment .... ...... 267,975,093 141,683,828 42. Traffic and car-service balances-Cr. 85,055,741 88,338,965
19. Investments in stocks, bonds, etc. other than those 4. Audited accounts and wages payable 489,873,96 460,835,838 April 1948 89 $37, 8,390 34 $11,072,145
of affiliated companies (Total, Account 707) 542,697,411 55,037,.47 Miscellaneous accounts payable 232,862,764 218,072,04 April 1947 89 3975,782 34 ,05,85
20. Other unadjusted debits 159,865,770 167,223.5 4. Interest matured unpaid 46,736,538 61,267,541 4 months 1948 a 1466,131 3 44,,72
21. Cash. 796,482,85 973.,79,014 4. Dividends matured unpaid 4,859,677 5,295,563 4 months 1947 89 155567,788 3 23,975,301
219. Cash 2Te.pO9 9 as0 2,0 .. 9269 o 47. Unmatured interest accrued 60,322,397 55,956,136
22. Temporary cash investments ... 1 .9. U16 matured dividends declared 18,317,468 17,472,201 -
2. Special deposits rceivabl. 12:63 5 1 2949004 49. Accrued accounts payable 193,995,619 157,801,931
2. Loans and bills receivable. ...... .12, 3....2, 47 50. Taxes accrued 679,699,849 495,763,222 Excludes reports of roads whose net income
25. Traffic and car-service balances-Dr. .... 50,07,66 47,087746 51. Other current liabilities 91,498,035 87,293,019 (or deficit) was absorbed by the controlling company.
2. Net balance receivable from agents and conductors 124,29~8 127',92,209 51. Other current liabilities 9 5 7,293,01
27. Miscellaneous accounts receivable 368,9,26 289,988, Total current liabilities (items 41 to ) 1,906,397,064 1,652,6,500 Period Number Excluded
28. Materials and supplies .. 06,9,540 721,352,06 2. Total current liabilities (1 14
29. Interest and dividends receivable 1. 250,329 16,660,85 53. Analysis of taxes accrued: April 1948 4
30. Accrued accounts receivable 16Z5:36,073 163,450,221 53-01. U. S. Government taxes 554,827,176 379,819,846 April 1947 4
31. Other current assets 3',7'3,032 39,218,903 53-02. Other than U. S. Government taxes 124,872,673 115,943,76 4 months 1948 4
2 Tl c t a s ( s 21 to 3 4114,576 3 ,1634 54. Otherunmdjusted credits 306,206,380 356,064,00 4 months 1947 4
32. _Total current assets (items 21 to 31) .. ,418,314,576 3,528,186,634


d Decrease, deficit, or other reverse item.
SRepresents accruals, including the amount in default.
Excludes Missouri & Arkansas Ry. Go. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt in default) which becomes due within six months
after close of month of report.
2/ Includes obligations which mature not more than one year after
date of issue.


Subject to revision


C.,
C
C






~~1


Statement No. M-125
APRIL 1948


I










INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


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

FOR THE FOUR MONTHS ENDED APRIL 1948 AND 1947


NICT AILWAY OPERATING NET INCOM FEDERAL IIlCOME DIVIDE D NET BAILWY OPERATIING NE INCOM FEDERAL INCOME DIVIDED
INCOME TAXES APPROPRIATIONS INCOME TAXES APPROPRIATIONS
Region and railway 1 1 Region and railway
1948 1947 1948 1947 194g 1947 1948 1947 1948 1947 194g 1947 1948 1947 194g 1947


United States T .


$195.750,651 $235,703,472


$100,415,ko? $131,592.487


$91.93.591 896.597. 34


$61,514,908 S49,018,394


Eastern District Total ............... 47.591.536 59.232.509 4,840,193 14,463.573 23,398,469 19.456.040 12.315,267 12,284.123

New England Region Total ............. 3,848.936 4,149.948 d 305.339 d 1.378.667 1.352.124 1.331.501 85.041 85,015

Banger and Aroostook .............. .. 1,627,486 1,161,079 1,448,821 998,107 917.628 599.996 47.850 47,850
Boston and Maine ...................... 1,255420 1,933.842 d 28.415 561,276 69.173 531.200
Canadian National Lines in New England. d 40.49 d 346.038 d 503.580 d 413,861 -
Canadian Pacific Lines in Maine ........ 419,015 437207 -
Canadian Pacific Lines in Vermont ...... d 4186 d 401199 -
Central Vermont ....................... 871 29,599 d 518.637 d 548,980 27,987 23,753 -
Maine Central .......................... 802,682 766,244 31.497 392.351 220.760 267,822 37.191 37,165
New York Connecting ................... 153,982 124,274 4 82,606 120785 -
New York, New Haven and Hartford ....... 535,826 793,988 d 86116 d 177257 116,576 d 91270
Rutland"* .............................. d 82.051 d 349,048 d 191310 d 44 -

Great Lakes Region Total ............. 23,006,294 28.734.603 8.347.521 10,817.062 10.733.013 8.203,288 3.765.331 3.343.123

Ann Arbor .............................. 184,417 228,231 118,844 158,335 79,822 104,925-
Cambria and Indiana .................... 59.864 150,638 58.615 d 16.959 153,553 177,246 60,000 60,000
Delaware and Hudson ................... 1913.174 1.902,653 1,359.692 1.326.925 831,000 914,000
Delaware, Lackawanna and Western ...... 2,427,608 2,423.765 830,980 758,615 453,947 92,678 422,206
Detroit and Mackinac .................. 169.953 145,644 138.405 110,624 85,086 64.649 -
Detroit and Toledo Shore Line .......... 399,582 425.067 368,224 392.391 232139 244,413 80,000 80,000
rie ................................... 5.366,851 3,624,411 3,329,016 1.579.876 2.011,672 890.668 2,017,021 2.017,021
Grand Trunk Western .................. 117691 1309.035 4 1.461.403 198.718 20,552
Lehigh and Hudson River ................ 100,219 116.925 13.655 123,759 73.005 81,020 47,070 47.070
Lehigh and New England ....... .......... 382,329 362,425 339,673 320,144 212,662 196,095 --
Lehigh Valley ......................... 1,21,529 1.852,347 d 641,460 32.652 d 73.05 d 17,500 -
Monongahela ........................... 204,185 560,753 64.875 413,427 228,71 -
Montour .................. ............ 223715 243.794 221550 239,478 135.775 146.604 -
New York Central ..................... 868.743 5,439,590 d 4.807. 323 1.516.821 50,1478 545.054
New York, Chicago and St. Louis ....... .631.117 3,596,543 4,009272 2.878,004 2,221,000 1,587,500 50,848 540,846
New ork, Ontario and Western** ........ d 664.010 d 338.498 d 1.139.767 807025 -
New York, Susouehanna and Western'* .... 37,413 119,600 d 675 d 62,98 -d 1964
Pittsburgh and Lake Erie ............... 2.494.253 1,869,185 2.000.84 1,547.196 1,231.077 957.752
Pittsburg and Sh=.wvt ................ 135.699 238,512 91 109,830 70.385 -
Pittsburgh and West Virginia ........... 555.183 364,959 391,907 208,130 244,540 130,978
Wabash ................................ 3.854,265 4,099.024 3.028.832 3,219.657 1,971.213 1.836.251 598,186 598.186

Central Eastern Region Total ......... 20.736.306 26.347.958 d 3.201.989 5.025.178 11.313,332 9.921,251 8.464.895 8,855.985

Akron, Canton & Youngstown ............. 371.821 315.,69 298.378 249.791 182,027 152.353 92.377 86,493
Baltimore and Ohio ..................... 10.438,798 9,855,607 2.896,261 2,781,447 959.422 729,230 -
Bessemer and Lake Erie ................. 959,902 1,191,528 631,875 818,884 468,307 547.654
Central R.R. of New Jersey- ........... d 2.037.153 d 1.615.784 d 1.816.74 d 1.266,280 800 800 -
Central R.R. of Pennsylvania ........... 2,880,408 2,542,806 1,459,758 826153 2,800 3,600 -
Chicago & Eastern Illinois .......... 644,395 105.894 278.393 d 56.976 153,800 d 3.200
Chicago & Illinois Midland ............. 387,949 432,452 249,124 32_4604 152,700 194,800
Chicago, Indianapolis and Louisville ... 568.550 d 30 317,052 d 333.393 4,606
Detroit. Toledo and Ironton ........... 1,052,904 1,197.448 955.698 1,087.893 501,152 632,502
Elgin. Joliet and EZstern .............. 1,744,44 1,805.542 1.650.568 1,699.563 1.133.578 1,116,210
Illinois Terminal ....................... 579.189 505,7922 93752 322784 277,500 234,200 90,000 90,000
Long Island ............................ d ,3485.5 d 2.g O d 4080210 d 3.091 -
Misouri-Illinois ...................... 305.771 288.1 314.568 291,848 193.000 178,000 -
Pennsylvania .......... ........... 347038 5.206,878 d 1 2,52 d 3.135,105 3,668,000 1.637,058 6,583,877 6.583.877
Penneylvania-Reading Seashore Lines .... d 1. 1683 d 1.63.772 d T d 1.679.585 122,545 107,13 -
Reading ................................ 3.224027 4.12180 2,040801 2,88,771 1.284.701 1,999,300 1,329.256 1,329,253
Staten Island Rapid Transit ............ 23316 d 189269 d 418506 d 799 -
Western Maryland ..................... 2.23370 2402,72 1,393,901 1.575,294 825,000 1,078,000 -
Wheeling and Lake Erie ................. 2.302436 2,162,572 2,293,686 2,105,215 1,388,000 1.34.000 369,385 766.362

Southern District Total .............. 61.871,157 69,156,001 42.232,611 52,296.412 25.598.376 31,038,615 17.920.825 16.211,047

Pocahontas Region Total .............. 18,871,300 29,439.416 15,410.593 26,801.989 8,980.877 15.772,199 11,249.454 10,400,913

Chesapeake and Ohio ................... 7,115.780 14,718,024 4,221,088 12,668,982 2.596,166 7.287,039 6.028,315 5.883,015
Norfolk and Western .................... 9,126,806 10.688,652 9,084,973 10,596,778 5,100,000 6.300,000 4,439,351 3.736,110
Richmond, Fredericksburg and Potomac ... 988,784 1,102,031 1,006,327 1,155.515 609,841 723,000
Virginian .............................. 1.639.930 2,930,709 1,098,205 2,380,714 674,870 1,462,160 781,788 781.788


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

Alabama Great Southern .................
Atlanta & Saint Andrews Bay ............
Atlanta and West Point .................
Atlantic Coast Line ....................
Central of Georgia** ...................
Charleston & Weetern Carolina .........
Cincinnati.New Orleans and Texas P.clfic


26.822,018

629,314
149,790
88,897
5,788,230
d 1.224.514
2.360
2,001.655


25,494,423

381,861
101.579
d 56.039
4,737.901
e 1,618.016
97,8748
1,293,587


16,617,499

465,000
90,746
55.899
1,800,000
55.295

1.435,000


15,266,416
254,000
81,368

900.000
55,298
15,000
1,095.00


6,671.371

9,000

1.650,739

40.890


5,810,134



1.650,844

40.890


Southern Region Continued

Clinchfield ..........................
Columbus and Greenville ..............
Florida east Coast* .................
Georgia R.B. Leasee Organization..
Georgia A& lorida* ..................
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 Alabaa ...............


$2.117.838
102.293
1,990o986
336,389
d 84768
184,471
2.224,168
7,601,839
4,255.565
63.584
837.516
777.252
190,731
4,688,529
9,001,617
d 170.001
154.869


$2,641.177
d 81.903
1,706.793
137.977
d 58,095
207,081
1.931.415
8,863.369
6,185,075
57,818
666,620
553.495
140,305
3.887.19
7,427,407
68 590


$107,092
559.287
d 2
81,2487
1,262,138
4.606,732
3,214,338
33,120
454,450
692,664
114,800
3,509,350
5,211,759

19 251.49


d 6
d 7888
302,84


102,724
1.354.959
5.712,772
5.379,203
21.639
295.665
471.195
17,834
.136,516
.204.888


$216,747
13,852
350,000

62.000
774,000
2,986,000
1.950.500
19.243
288,414
490,000
96,041
1,670,000
3.705.000

93,762


$216.726
1.153
200.000

76.000
588,216
3.663.000
3,448.600
20,527
205,582
345,000
7,628
1,265,000
2,820,000
3--931


$559.359
4,118,00oo

255.982

37.001


*4.118,400


Western District Total ............. 86,287.958 107.314,962 53,342.603 64,832,502 42,546,746 46,102.779 31,278,816 20,523,224

Northwestern Region Total .......... 2,656,204 17,820,733 dlO.027.514 5.055.765 679,248 3,557.667 5,605.774 4,073,164

Chicago and North Western ............ d 2.4313 1,271,505 -
Chicago Great Western ............... 967,92 883,633 772,294 595.353 376,000 d 93883
Chicago, Milwaukee, St.Paul & Pacific 1,021.463 6,137,291 d 1.32997 3,814,090 75. 1 4,486,960 2,804,350
Chicago, St.Paul,Minneapolis & Omaha 614681 297,964 d 46759- -
Duluth, Missabe and Iron Range ....... .9186 d 2.166.769 d 2 -
Duluth, South Shore and Atlantic* ... 178,1 3 124,25 d 8833 ----
Duluth, Winnipeg and Pacific ......... 143.266 76,524 d 2121 -
Great Northern ....................... 2,278,104 3,093.498 119.317 8.205 385,000
Green Bay and Western ............... 113,147 136.550 129,486 152,246 105,181 644883 125.000 125,000
Lake Superior & Ishpeming .......... d 127260 d 18168 d 106029 d 1 1 -- 53.550 53,550
Minneapolis & St. Louis ............. 339518 630.566 359,506 5,78 192,067 405,901 150,000 300,000
Minneapolis, St. Paul & S.S. Marie ... d 1 8 170,711 d 1.34 65 15,865 719.10: 719,104
Northern Pacific .................... 2, 885,8H 5,602,647 d 2,416,882 1,004,000
Spokane International ............... 50,330 52.376 191 11,492 6,000 6,266 71.160 71,160
Spokane,Portland and Seattle ......... 256,927 527,495 d 848408 d 6.055 -
Wisconsin Central ............... 953.162 1,121,145 315.925 77835- --

Central Western Region Total ....... 53.449,219 59,570,757 45.662.294 42,989,149 30,534.770 33,060,561 19.757,554 15.556.222

Atchison. Topeka and Santa Fe ..... 15,860,196 15.406,639 13,723,241 12.993.188 9,040,907 9,164,829 3.640.590 3.640.590
Chicago. Burlington & Quincy ......... 9.245.81 12.431,443 7,660.904 11.234,111 5.053.000 7,228,800 -
Chicago, Bock Island and Pacific .... 4,493,25 6,888,752 3,353.028 2,849,931 2,055,000 1,900,00
Colorado and Southern ............... 305.149 130.324 179.630 2,821 214,528 108,925
Colorado and Wyoming ................. 204,868 116,703 147.972 92,459 90,800 68.900 -
Denver and Rio Grande Western ........ 3,591,266 2.037.007 2.09,611 689.345 291,000 106,799 1.978,242
Fort Worth and Denver City ........... 379,030 398,580 24,333 39347 62,210 73.562
Northwestern Pacific ........ o ..... d 66 177,878 d d 24.305 -
Sacramento Northern .................. d 23337 d 225.043 d 8 440,0 -
SouthernPacific ..................... 11,6559 10,092.193 2.98 77 4,968,522 6,275.746 3,772,763 3.772,763
Southern Pacific Transp. System e/ ... 16,128,780 15,008,245 13,141,684 11,373,610 7.618,419 9,056,728 3.772,763 3,772,763
Toledo, Peoria & Western ............. 227,771 d 1 206,890 50,008 126,803 -
Union Pacific ........................ 7,291,646 11,71,953 15.729.321 13.500,293 8,600,000 8,100,000 7,548,137 5325.227
Utah ................................. d 6 59.267 d 95 33.685 26,000 -
Western Pacific .................... 102 2,257 14855 267744 32.000 7000 2,817,822 2,817.642


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

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


30,182.535
1,016,151
78,839
60,277
3.052.193
325.644
1,019,478
76,114
1,769.403
6,078,678
1,055.306
28.940
1,628,262
2.554,495
114.096
4.056.428
d 2o90.804
4,972.221
2,425,662
161.152


29.923.472

839,425
d 73,426
111.693
2,207,693
436.576
846.619
108,645
1,542,756
7.808,615
1,241,100
1 4.313
1,044,147
2.907.326
117.906
3.589.189
d 306.622
4.916.,52
2,311,813
239,652


17,707,823
1,009.142
d 296.811
d 743.163
2.487.3582
285.804
961.752
34,so04
824,246
1,385,707
185,428
14,914
1.39,9331
1,030,606
97,805
3.458,273
d 363.743
4,012.331
1,797.225
132,190


16,787.688

787.063
d 44268
d 71656
1.572,077
394,224
739,528
57.983
627.114
3,118.253
343.741
20,236
846,019
1.165.000
81,979
2.714,377
d 801

1,619,169
192.944


11,332,728

368,000


1.595,000
242,613
768,500
40,910
503,000
50.000
68,000
26.336
558.o00
748,050
61,000
2,430.879

2.649.897
1,157,812
64,731


9.484,551

288.00C

890,00



850,000
48,000
17.055
313, 00(
834,000
54,000
1,836.112
2,780,982
182,000
48,000


5.915.488



210,000

75.000





3,092.985

1.853.665

683.838


SA I I I I I I III I I I L s


S Report of receiver or receivers.
0 Report of trustee or trustees.
S Deficit or other reverse item.
. Includes Boston & Albany, lessor to New York Central .R.


/ formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
/ Includes Atchison, Topeka & Santa Fe By., Gulf, Colorado & Santa Fe By., and Panhandle
* Data not included in totals. Includes Southern Pacific Copany, Texas and New Orleans


893.838



210,000











683.838


& Santa Fe By.
R.B. Co., and leased lines.

U. S. GOVERNMENT PRINTING OFFICE: 1948--0-750193


Page 2


42,999.857

70.o077
146,987
72,443
4,645,521
443,026
90,973
2.597.952


39.716.585

s83,772
115,302
d 68,118
d 139.585
189.737
1.876,826








Subject to revision


UNIVERSITY OF FLORIDA


3 1262 08851 1729 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of May For the five months of For the month of May For the five, months of For the month of May For the five months of

1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income ... .......----------. $90 178066 $76 P18 501 $285 928 717 $312 521975 31 830 085 $27 077 450 $79 421 621 $86 309960 $11 408 752 $10 053 406 $30 280 052 $39 492 822
2. Other income ...........15 331899 15220240 87474744 81949882 6 892 391 8063 938 42882838 42 382 807 762 702 670925 3564 361 3717272
3. Total income .. .......... 105 509 965 92 0x8 741 373 403 461 394 471 857 38 722 476 35 141 388 122 304459 128 692 767 12171 454 10724 331 33 844413 43 210 094
4. Miscellaneous deductions from income .... 4 249 721 2 843 883 19 116 727 15 801721 720 242 611704 3 521831 3 482 543 501 930 433 438 2 563 132 1874 019
5. Income available for fixed charges 101 260 244 89 194 858 354 286 734 378 670136 38 002 234 34 529 684 118 782628 125 210 224 11 669 524 10290 893 31281281 41 336 075
6. Fixed charges:
6-01. Rent for leased roads and equipment 9 843 069 10 468 576 51 890 177 52 305 616 7 155 928 7 062 471 35 107 221 35 282 808 20 525 15 345 77 977 76 884
6-02. Interest deductions/ 24 345 206 25975 122 121492861 130 515 775 10530590 10928 320 52 861077 54670486 1094495 1045 246 5 229 290 5220429
6-03. Other deductions .......147 047 162 274 714 951 711791 40848 44 476 204349 197 542 2229 1 463 11146 7934
6-04. Total fixed charges. 4 3435 322 36605 972 174 097 989 183 533182 17 727 366 18 075 267 88172647 90150836 1117249 1062054 5 318 413 5305247
7. Income after fixed charges 66 924 922 52 588 86 180188745 195 136 954 20 274 868 16494 417 30 609 981 35059388 10552275 9228 839 25962868 36030828
3 210 407 3 157 772 16 059 073 14 113 352 1 361 433 1 042 811 6 856 352 5 144 208
9. Net income.n 63714 515 49 471 114 164 129 672 181023602 18913 435 15451606 23753629 29915180 10552275 9228 839 25962868 36 030 828
10. Depreciation (Way and structures and Equipment) 31 090 411 29 437 170 152 626 478 145 820 019 12 661 644 12 136 593 61 680 975 60 175 556 2 313 785 2 154 47 9 11 203 028 10 752 117
11. Amortization of defense projects ----....---------- 1 362 078 1357 846 7 152 426 6 769164 467 513 464 591 2 322 878 2 373192 74 250 76 450 354429 309986
12. Federal income taxes 28 136690 24862688 119 680281 121 460121 10340990 5993 574 33739459 25449613 6 400371 5585 548 15 381 248 21357747
13. Dividend appropriations:
13-01. On common stock 26 700 522 21 454 573 69 044 948 58 963 693 4 093 525 3 228 478 12 600 870 11 302 120 10 856 559 10 153 317 21 713 117 20 194 327
13-02. On preferred stock 12053517 9935 467 31 223 999 21444740 2630 946 1008 404 6438869 5218885 172 991 565 886 359902
Ratio of income to fixed charges (Item 5-6-04) 2.95 2.44 2.03 2.06 2.14 1.91 1.35 1.39 10.44 9.69 5-88 7.79


SOUTHERN REGION WESTERN DISTRICT
MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONN
Income Items OF DOLLARS OF OO.LAR
Income Items For the month of May For the five months of For the month of May For the five months of 1.0 100

1948 194 7 194 1947 1914 1947 1948 1947

1. Net railway operating income $'.2 983 950 $9 89 2 956 $55983807 $49549541 $33 955 279 $29 P54 689 $120 243 237 137 169 652 o 80
2. Other income. 1290175 1 182 638 6 650563 8596811 6 386631 5302539 34 376982 27252992
3. Total income ....... 14 274 125 11 015 794 62 634 370 58 146 352 40 341 910 35 157 228 154 620 219 164 422 644
4. Miscellaneous deductions from income.. 655 394 510332 2442247 2638 497 2 372155 1288 409 10589517 7806662 60 60
5. Income available for fixed charges 13 618 731 10 505 462 60192123 55 507 855 37 969 755 33 868 819 144 030702 156 615 982
6. Fixed charges:
6-01. Rent for leased roads and equipment 852990 842755 4 300 138 4193936 1813626 2548 005 12404841 12751988 40 \-- -- --40
6-02. Interest deductions/ 3 766 426 3 755 496 18 811 865 18 749 578 8 953 695 10 246 060 44 590 629 51 875 282
6-03. Other deductions..... 23 741 24 027 118738 120 341 80 229 92 308 380718 385 974
6-04. Total fixed charges.. 4643 157 4 622 278 23 230741 23 063 855 10 847 550 12886 373 57 376 188 65 013 244,
7. Income after fixed charges .. 8 975 574 5 883 184 36 961382 32444 000 27 122 205 20982 446 86 654514 91602738 --------20
8. Other Deductions 284 940 638 931 1448730 1705325 1564034 1476 030 7 753 991 7263819
9. Net income. 8 690634 5 244 253 35 512 652 30738 675 25 558 171 19 506 416 78 900523 84 338 919
10. Depreciation (Way and structures and Equipment) 4 059 974 3 810 e95 20183 866 18 683 063 12 055 008 11 335 203 59 558 609 56 209 283
11. Amortization of defense projects----------------------- 211 328 219 088 1 059 338 1097 107 608 987 597 717 3 415 781 2 988 879
12. Federal income taxes 5 626 302 3 472 625 22 243 801 18 739 040 5 769 027 9 810 941 48 315 773 55 913 721
-EO --- -- --- ------------ --- ---- -to
13. Dividend appropriations:
13-01. On common stock. 2 420 400 578 100 8 487 637 6 343 354 9 330 038 7 494 678 26 243 324 21 123 892
13-02. On preferred stock 1 030 650 621 847 1 634784 666 727 8 218 930 8 305 216 22 584460 15 199 226 -40 I i I I I -4
JF MIAJ IASOND J FMA MJ A SOND J FMAM JJA50N 0
Ratio of income to fixed charges (Item 5+6-04) 2.93 2.27 2.59 2.41 3.50 2.63 2.51 2.41 1946 1947 1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items e a t e o Selected Liability Items Balance at ANALYSIS OF NET INCOME--ALL CLASS I RAILWAYS
Balanoe at the end of May Balanoe at the end of May
1948 1947 194s 1947 1
Reports showing Reports showing
17. Expenditures (gross) for additions and betterments- 40. Funded debt maturing within 6 months 2/. .. 126,141,584 8148,776,282 Period Net Inoome Net Deficit
Road.. $116,858,650 $93,559,087
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable ..../ .....3,175,000 4,250,000 Number Amount Number Amount
Equipment..... 342,757,10 17,374,907 Traffic and car-service balances-Cr..... 93,92,54 9,228,746
19. Investments in stocks, bonds, etc., other than those 4 Audited accounts and wages payable....... ... 600,111,890 511,346,570 May 1948 103 66,213,346 20 $2,498,831
of affiliated companies (Total, Account 707) 543,014,585 575,577,9 4. Miscellaneous accounts payable ............. 201,83,49 196,654,007 May 1947 89 52,859,2 45 3 3,428,131
20. Other unadjusted debits.... 160,74,820 173,331,644 45. Interest matured unpaid .32,718,650 45,376,09 5 months 1948 93 199,030,524 30 34,900,852
2. Dividends matured unpaid .. ...... ,953,3e0 ,211,389 5 months 1947 91 200,103,795 31 19,080,193
21. Cash ......... ................................. .. .. 93,029,59 1,035,260,360 47- Unmatured interest accrued .. ... ,980,47 62,039,545
22. Temporary cash investments.......... 903,50,29 93,523,581 Unmatured dividends declared ...... 50,850,169 40,339,235 ___
2. Specialdeposits................... .... ... .... ... 110,982,266 134,467,337 49. Accrued accounts payable 202,546,26 16 570, 470
Loansand billsreceivable... ... 12,610,077 192,024 50. Taxes accrued payale 61,,14 Excludes reports of roads whose net income
2. Traffic and car-service balances-Dr...... 56,86,7 46,479,985 51 Other current liabilities 91 ,184 85, 977 (or deficit) was absorbed by the controlling company.
2 Net balance receivable from agents and conductors 138,457,554 129,112,138 .. .
27. Miscellaneous accounts receivable 342,253,441 290,532,045 P2. Total current liabilities (items 41 to 51) .. 2,003,347,004 1,693,272,140 Period Number Excluded
28. Materials and supplies 811,098,191 728,105,607
29. Interest and dividends receivable 20,1,319 19,509,835 53. Analysis of taxes accrued: May 1948 4
30. Accrued accounts receivable 173,146,795 11,990,132 53-01. U. S. Government taxes 513,790,590 353,325,507 May 1947 4
31. Other current assets 35,340,380 2,606,357 53-02. Other than U. S. Government taxes 137,604,555 12,989,85 5 months 1948 4
2. Totl c t a s (it 2 to 3 54. Other unadjusted credits 306,602,211 354,695,94 5 months 1947 4
32. Total current assets (items 21 to 3) 3.498.2171393,521 31,779,401


d Decrease, deficit, or other reverse item.
/ Represents accruals, including the amount in default.
F Excludes Missouri & Arkansas Ry. Co. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt in default) which becomes due within six months
after close of month of report.
/ Includes obligations which mature not more than one year after
date of issue.


Statement No. M-125
MAY 1948







Sep2'48


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS
FOR THE FIVE MONTHS ENDED MAY 194g AND 1947


bge 2


NET RAILWAY OPERATING FEDERAL INCOCB DIVIDEND NET RAILWAY OPERATING NET INCOME FEDERAL INCOCI DIVIDEND
INCOuHE TAXIS APPOPBIATIONS INCOME TAXKE APPROPRIATIONS
Region and railway Region and railway
1948 1947 1948 1947 1948 1947 194g 1947 1914 1947 1945 1947 1948 1947 1948 1947


United States Total .................. $285.928.717 $312.521,975 $164.129.672 $181,023.602 $119.680.281 $121,460.121 $100,268.947 $80.408.433 Southern Region Continued
Eastern District Total ............... 79,421.621 86.309.960 23,753,629 29,915.180 33.739,459 25.419,613 19.039.739 16.521,005 Olinchfield .......................... $2,787.738 $3,251.185 $270.935 $270,907
-----Colubus and Greenville .............. 96,603 96232 $103,556 d 87.97 13.852 1.153
New England Region Total ............. 6,70,8746 5.5143,555 1,12.258 d 1.028.651 1,868,784 1.399,493 132,892 132,865 Florida East Coast* .................. 2125.406 1.83031 3285356 67,998 210,000 60,00 -
SGeorgia R.R. Lessee Organization ... 475,372 21,040 -
Bangor and Aroostook ................... 1,826,341 1.190,453 1,601,589 983.998 1,014,325 594,1413 95.700 95.700 Georgia & Florida .................... 9.21 5437.067 1 466 -
Boston and Maine ....................... 1,940.030 2.42,118 3 196 841.128 341.398 759.828 -- Georgia Southern and Florida ........ 240.37 262,779 112,021 132,706 82000 91,000 -
Canadian National Lines in New England d 525.865 d 459.71 d 606.331 d 5 Gulf, Mobile and Ohio .................. 029.548 3,107.434 1.834,817 2.000,943 1,124,000 737.269 -
Canadian Pacific Lines in Maine ........ 3 78 329.61 Illinois Central ..................... 10,582,941 11,067,181 6,856,205 7,133,348 4,405.000 4,574,000 $559.359
Canadian Pacific Lines in Vermont ...... d 585377 d 539587 Louiville and Nashville ............. 5956,533 7,681,163 4,760.508 6,665,651 2,846,975 4,350,100 4,118,400 $4,118,400
Central Veraont ........................ 266,332 81,4 d 468,187 d 6140.614 31,687 30,35 Mississippi Central .................. 98,873 77,911 60.553 33.078 35,866 24,287 -
Maine Central .......................... 1,055,603 921,0 590.373 458338 33.198 328,259 37.192 37.165 Nashville. Chattanooga & St. Louie ... 1,077,580 862,526 597.287 399,657 375.279 258.583 255.92 -
New York Connecting ..................... 243,241 178.359 d 5293 d 12 .02 New Orleans and Northeastern ......... 1,008.182 728,916 899.590 625,224 635.000 445. 000
New York, New Haven and Hartford ....... 2,162,393 1.699953 230,222 d 14023 14.176 d 313.360 Norfolk Southern ..................... 250,293 105,861 158.525 d 46961 151303 7.628 37.001
utland .............................. d 5736 d 400850 d 196666 d 5999 Seaboard Air Line .................... 5.892.432 4.708,820 4,502.557 3.745,504 2,175,000 1,415,000 750.000 375.000
Southern ............................. 11,600593 9.465,233 6,880,565 5,293,954 4.905,000 3.585,000 -
Great Lakes Region Total ............. 35.458.900 4o.862.247 15.968,762 17.969.724 14.298.293 10,560.118 9,767.557 6,859.157 Tennessee Central .................... d 39.32~ 141- 1 18 d 8. 552 d 4 288 -
Western By. of Alabama ............... 191361 89,217 1.831 77.57 l.518 -
Ann Arbor .............................. 263.650 282,9114 182.351 196,825 116.220 124.532 -
Cambria and Indiana .................... 105,916 1i4, 104,392 15.846 210.996 224.883 60.000 60,000 Western District Total ............. 120.243,237 137,169.652 78.900.523 84.338.919 48,315.773 55.913.721 48,821.74 36.323.118
Delaware and Hudson .................... 2.568.094 2 2.556,355 1,876,428 1,839.524 1,154.000 1,262,000-
Delaware. Lackawanna and Western ....... 3.408.780 3,196.969 1369745 1,102.090 772907 219.01 422206 Northwestern Region Total .......... 14.772.565 27,660.809 s 1 11,508,2148 d 4415.651 4,703,429 10,244,599 8,711,988
Detroit and Mackinac .................... 217,144 17.923 178457 131.313 109,075 77.771 -
Detroit and Toledo Shore Line ......... 489.933 478.251 450,746 437,59 279.836 273,161 100,000 100,000 Chicago and North Western ............ d 24.899 2.462.564 dl97660 610.958 -
rie ................................... 6912,336 4,698735 35223 2,129,974 2,670352 1,173,864 3244907 3.2 907 Chicago Great Western................ 1,28912 1065,155 1,022,01 714,77 505700 d 119 2
Grand Trunk Western ................ 639,213 1,801,603 d 8390 d 907 20.552 Chicago.MilwaukeeSt.Paul and Pacific. 2,181,404 7.326,709 d 4,461,265 1,785.000 4.486,960 2,04,350
Lehigh and Hudson River ................ 124.619 132,00 799 91.851 93.865 47,070 47,070 Chicago.Saint Paul.Minneapolis & Oha d 482.007 1448281 60d 506851 -
Lehigh and New England ................. 577.735 60,492 525,465 408,967 327.760 250,535 -- Duluth, Missabe and Iron Range ....... 790,730 402,400 3345 220.231 535,890 214,639
Lehigh Valley .......................... 1,990,189 2,258,160 d 4 716 d .8 d 73.054 d 1.500 Duluth, South Shore and Atlantic"* ... 256,713 161.720 d d 4939 -
Monongahela ............................ 429.891 862,88 2557 7 678691 28892 305,759 -- Duluth. Winnepeg and Pacific ......... 129,424 98,273 5.002 d 801 -
ontour .............................. 310351 336,361 30161 330.922 18,859 202650 Great Northern....................... 4.844,535 5,274,779 2,111,635 2,34,847 6 1,145,000 4,638,25 4.638,824
ew York Centrala ...................... 2.809,318 10,749.268 d 3.029.566 1,696805 667.110 658994 Green Bay and Western ................ 130,007 151.802 142,369 164,929 1,961 82,083 125,000 125,000
New York, Chicago and St. Louis ........ 6,156,253 4,462,477 5,368.139 3.561,515 3,013.000 1,962.500 2,704,238 1,081,694 Lake Superior & Ishteming ............. 58.77 47.355 81,676 51,649 50,100 31.700 53,550 53.550
New York, Ontario and Western.* ........ d 730.488 d 376.921 d 1.329437d 966.230 -- Minneapolis & St. Louis .............. 446,721 803,238 462,483 840,063 248,567 512,901 150.000 300,000
Sew York, Susquehanna and Western" .... 110.795 13 ,499 25961 d 93 5 13.96 Minneapolis, St. Paul & S.S. Marie ...& l 42 364.512 1069615,865 719,104 719,104
Pittsburgh and Lake Erie ............... 3.434,558 2.63.4143 2.683.306 2.114.735 1,649,107 1,304,599 2.590.950 1,727.300 Northern Pacific ..................... 4, 182 6.765.745 d 190.11 2.758,633 1,037,000 -
Pittsburg and Shawmut .................. 194.950 300,998 138,868 139.775 103.85 Spokane International ................ 54,598 65,533 8,877 15,256 14,488 ?71,160 71,160
Pittsburgh and West Virginia ........... 725.094 459,933 523.737 263,516 326,414 171.886 Spokane, Portlnd and Seattle ........ 658275 51749 d 729145 d50 -
Wabash ................................. 4.720.569 5.072.955 3.686.691 3.975.162 2,4o4,583 2.265.313 598,186 598.186 ispoonein Pentral bae ............ .34275705 9 5 899964 100000 -
Central Eastern Region Total ......... 37.253.975 39,904.158 6.342,609 12.9714,107 17.572.382 13,490.002 9.139,290 9.528.983 Central Western Region Total ....... 67,290.937 72.127,916 57.967.399 52.012,969 38.262.426 39.527,619 32,191,912 25,767,670
Akron, Canton & Youngstown ............. 465.296 379,858 369.736 297.078 225,762 181.588 92.377 86,493 Atchison, Topeka and Santa Fe / ..... 20,836,081 18.643,738 18.093.250 15,594.233 11,967,907 11,156,829 6.744,910 6,744,910
Baltimore and Ohio ..................... 14.392.508 13,052,073 4,858,526 4,001,724 1,955,022 1,230,130 Chicago. Burlington & Quincy ......... 11.759.579 14,877,852 9,742,896 13.304,954 6.598,857 8,538.500
Bessemer and Lake Erie ................. 2.072,702 2,214,618 1,660,091 1,781,037 1,158.478 1,147.271 Chicago, Rock Island and Pacific ..... 5.801,924 8,047,819 4.391,856 3,018,692 2,692.000 2,010,000
Central R.R. of New Jersey ........... d 22.7.593 d 1.793.955 d 2.006.376 d 1.325.806 1,000 1,016 Colorado and Southern ................ 306,186 61,976 148.563 d 1 699 221.30 67,370
Central R.R. of Pennsylvania ........... 3.76,706 3.197.624 1.950.175 1,017,973 3.500 3.03 Colorado & Wyoming ................... 257.152 151,899 201,323 121.67 123.600 88,300 -
Chicago & Eastern Illinois ............ 784,945 233,012 357.864 193.800 3,400 Denver and Rio Grande Western ........ 4,938,485 2,669.285 2,974,598 1,021,492 671.600 106,799 1,978.242
Chicago & Illinois Midland ............. 637,103 593.878 461,931 459.199 327.172 277,200 Fort Worth and Denver City ........... 483,633 431,949 35,226 d 21,245 80,971 44,980-
Chicago, Indianapolis and Louisville ... 772.907 d 136.805 457,713 d 39.142 4,606 Northwestern Pacific ................. 18,923 22.557 21,976 2727 -
Detroit, Toledo and Ironton ............ 1.251,75 1.439.643 1,131.626 1.304,529 609,401 743,031 Sacramento Northern .................. d 268.983 d 261.526 d 1. 613 d.0 .-
Elgin, Joliet and Eatern .............. 2,623.897 2,367,425 2.5067 2,234,098 1,692,772 1,464,611 Southern Pacific ..................... 12,724,538 12.621,98 .11197 3 7 5,4147,61 7,627,34 7, ,526 7,545526
Illinois Terminal ...................... 722,178 6 491,090 460,852 31 00 327,900 90,000 90.00 southern Pacific Transp. System ... 18,956,921 18,866,897 14,967,131 14.537,469 8,733.956 11.122.287 7.545,526 7.545,526
Long Island ................................. d ,.9210 d 2.652.2714 d 4.351 d 3.1404694 Toledo, Peoria & Western ............. 273,974 d 203.393 246,776 d 3 3 151,250- --
Missouri-Illinois.................... .. 406l73 369,445 41724 8 375,002 256,000 230,000 Union Pacific ........................ 8670.398 13.978.255 19,111,.0 16,648,8 10,200,000 9,950,000 13,105.412 8,659,592
Pennsylvania ........................... 6.583.455 10.603.518 d o 737,90 176,0140 5,512,625 2,o6322 6.583,877 6,583.77 Utah ................................. 36556 71,102 38.921 30,500 -
PennsylvaniaReading Seashore Lines d .. 1,853,320 d 1.607.625 d 22443 d 2002.39 153.181 133.922 -- western Pacific ...................... 152590 808,515 52 563.920 107000 7,000 2,817822 2,817,642
Reading ................................ L606.93 5,219,921 3,115.517 3.614 61 1.951,869 2.555,172 1,745,962 1.,78,959
Staten Island Rapid Transit ............ d 2.56002 d 253.092 d 482929 89055 Southwestern Region Total .......... 38.179,735 37.380,897 22.352,463 20,817,702 1,1465,998 11.682,673 6,391,273 1,83,60
Western Maryland ...................... 3.154,021 3,173,,410 2,104,043 2.133.886 1,284,000 1,393,000 -
Wheeling and Lake Erie ........ ......... 3149,807 2,78,387 3,127,549 2,704,160 1.899,000 1,717,000 624.074 1,019.654 Beaumont, Sour Lake & Western*" ...... 1,169,155 1.069,322 1,159.956 1.oo5.495 403,000 322,000
Burlington-Rock Island ............... 155,188 d313983 6622 -
Southern District Total .............. 86.263.859 89.042.363 61,475.520 66,769,503 37.625.049 40.096.787 32.401,424 27.5614,310 International-Great Northern*m ....... 50 7900 45d 90. 21 o
Kansas City Southern ................. 3.903,529 2,813,402 3 35 2,020,27 2,040,000 1,115000 20,000 210,000
Pocahontas Region- Total .............. 30,280.052 39,492.822 25,962,868 36,030.,28 15,381,248 21,357.747 22,279.003 20.554.229 Kansas, Oklahoma & Gulf .............. 399.921 519,699 346.975 466,169 304.198 295,000 265.785 265.785
Louisiana & Arkansas ................... 1,349.921 1,011,592 1,271.649 873,903 996,700 663,000 75.000 -
Chesapeake and Ohio .................... 12,779.969 19.719,323 9,181,984 16.999,223 5,671,587 9,95.,533 12.056,628 11,738,337 Midland Valley ...................... 97.767 125,302 36.898 53,753 50015 47.253 -
Norfolk and Western .................... 13.554.286 11.378.538 13,496.079 14.266,045 7,700.000 8,425,000 8.658,s00 7,252.317 Missouri-Kanesa-Texas ................ 2,410,225 1940,695 1.229.966 803.167 759000 548,000 -
Richmond, Fredericksburg and Potomac ... 1,190.386 1,333.321 1.215.458 1,393,418 737.841 907,964 Missouri Pacific** ................... 7.829,105 9.527.8914 1,818652 3.519.339 225,000 850.000- -
Virginian .............................. 2.755,411 14,061.640 2,069.347 3.372.142 1.271.820 2,070.250 1.563.575 1.563.575 New Orleans. Texas & Mexico*" ........ 1.171,122 1,407,731 83.13 286,105 68000 224,000 -
Oklahoma City-Ada-Atoka ................ 38.084 40,291 20214 22,233 36,264 20,170 -
Southern Region Total ................ 55.983,807 49,-499.41 35.512,652 30,738.675 22,243,801 18.739,040 10,122,h21 7,010,081 t. Louis, Brownsville and Mexicooe .. 2,193,149 1,281,943 1,849,817 1.028,728 652,000 321,000 -
St. Louis-SanFranclsco .............. 3,221,939 3,768.702 1,293,607 1,601,903 955.050 1,047,000 3.092,985 -
Alabama Great Southern ................. 975.730 640,605 849.437 512.418 585.000 344.000 896,828 784.725 St. Louse, San Francisco and Texas ... 147.612 112.882 126,469 68.05 77,000 43,000--
Atlanta Saint Andrew Bay................. 195,106 139.651 196,204 151.985 120,098 101.629 9000 30000 St. Louis Southwestern............... 4,836.727 4.583,720 4,056.091 3.490.449 2,894,864 2,307304 1.853.665
Atlanta and West Point ................. 89,664 d 60.995 108,649 d 46,066 66,40 San Antonio, hUalde & Gulf** ........ .& 3.062 d 3_ 5906 7 d 441 J4 d 4, 4- -
Atlantic Coast.Line .................... 5.202323 2.979,573 6.359.649 4.740.930 2.200,000 900.000 1,650.739 1,650,844 Texas and New Orleans ............... 6,232.383 6.244979 5.03. 5.15L383 32 095 3 96
Central of Georgia* ................... 718.654 d 139 639 d 1.366374 d 2,021,529 69.119 69.123 Texas and Pacific .................... 3,153.920 2.929,992 2,361,741 2,078,495 1,571.812 305,000 683.838 1.367,675
Charleston 6 Western Carolina .......... 167,726 215,2 57.275 101.501 5,000 20,000 Texas Mexican ........................ 176,920 315. 43 201.936 256,805 150.000 80,000- -
Cincinnati.New Orleans & Texas Pacific 3.353457 2.503.883 2,608.093 1.771.010 1,865.000 1,000000 1,845,112 51,112


Report of receiver or receivers.
* Report of trustee or trustees.
S Deficit or other reverse item.
/ Includes Boston & Albany. lessor to Iew York Central R.R.


b/ Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
S Includes Atchison, Topeka & Santa Fe By., Gulf, Colorado & Santa Fe By., and Panhandle & Santa Fe By.
e Data not included in totals. Includes Southern Pacific Company, Texas and New Orleans R.R. Co., and leased lines.
U. S. GOVERNMENT PRINTING OFFICE:1949 0 800193








Subject to revision


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UNIVERSITY OF FLORIDA

1 1111 11111111 111111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 1737 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
JUNE 1948


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of June For the six months of For the month of June For the six months of For the month of June For the six months of
1948 197 19 197 194 197 1 197 1948 1947 198 1947 1948 1947

1. Net railway operating income.............. .......... ......-- ... $124 972 864 $51 249 092 $410 932 721 $373 771 064 $50 498 093 $24 129 365 L129 950 854 $110 439 324 $12 274 679 $7 985 44 5 $42 554 731 47 478 267
2. Other income -............ .... ...... ................24 248 471 24 474 386 111723217 106 424 270 7 691 950 8 856 385 50574790 51239 192 746 159 801 061 4 310 520 4 518 333
3. Total income..-....-....-....-.. -----....... ------ 149 221 335 85 723 478 522 655 938 480 195 334 58 190 043 32985 750 180 525 644 161 678 516 13 020 838 8 786 506 46 865 251 51 996 600
4. Miscellaneous deductions from income....... .. ........... 14 934 404 782 604 34 051133 18 584 325 10 200 885 654 311 13 722 718 4 136 853 1 531 991 364 515 4 095 123 2 238 534
5. Income available for fixed charges-............... 134286 931 2 940 874 488604805 461611009 47989158 32 331439 166 802926 157541663 11488647 8421991 42770128 49758066
6. Fixed charges:
6-01. Rent for leased roads and equipment...........-- 12 084 211 10 626 594 63 974 389 62 932 210 7 201 246 7 175 036 42 308 468 42 457 844 13 841 14 317 91 818 91 201
6-02. Interest deductions / .....................--. ..-.. 24 765 675 25 894 896 146 258 525 156 410 670 10 933 821 10 819 908 63 794 898 65 490 394 1 094 706 1 043 123 6 323 998 6 263 552
6-03. Other deductions.............. ----- ........148 212 145 157 863 164 856 949 4 3343 44 391 247 692 241933 2 677 1 463 13 823 9 397
6-04. Total fixed charges............................... ... 6 998 098 36 666 647 211 096 078 220 199 829 18 178 410 18 039 335 106 351 058 108 190 171 1 111 226 1 058 903 6 429 639 6 364 150
7. Income after fixed charges.............-- --...... 97 288 833 46 274 227 277 508727 241 411180 29 810 748 14 292 104 60451 868 49 351 492 10 377 621 7 363 088 36 340489 43 393 916
8. Other Deductions ..3-- ---------------...... ............ 218 247 2863 463 19 277 380 16 976815 1366 458 1042741 8 222809 6 186949
9. Net income... .......... ............... ... 94070586 43410764 258231407 224 434365 28 444 290 13249 363 52 229 059 43 164 545 10 377 621 7 363 086 36 340489 43 393916
10. Depreciation (Way and structures and Equipment).... 31 050 032 29 487 439 183 676 507 175 307 459 12 671 939 12 132 346 74 352 913 72 307 902 32282 541 2 170 487 13485569 12922604
11. Amortzation of defense projects..--......-.-----.---. 1 371 679 1 357 236 8 524 104 8 126 400 467 436 471 075 2790314 2 844 267 70 222 61 012 424 651 370 998
12. Federal income taxes...............-- .....-.- ............. 52 253 433 20167 672 171 903228 141627794 16 816 224 5 064 372 50525 197 30513 986 6 658 924 4 412 505 22 040172 25770252
13. Dividend appropriations:
13 01. On common stock........... ...........--...... 11029 522 11562 292 80074470 70525985 1407189 1057 459 14 008059 12359579 310 032 340032 22 023 149 20534 359
13-02. On preferred stock...........--.............. 2261056 799 806 33485055 22244546 116 093 256 535 6554962 5475420 173 048 565 886 532950
Ratio of income to fixed charges (Item 5+6-04) .. 3.63 2.26 2.31 2.10 2.64 1.79 1.57 1.46 10.34 7.95 6.65 7.82

SOUTHERN REGION WESTERN DISTRICT
MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
Income Items Of DOLLARS OF DOLLAR
Income Items For the month of June For the six months of For the month of June For the six months of 00 -1 OF DO
1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income ..................$13 845 143 $7 372 395 $69 828 950 $56 921935 $48 354 949 $21 761 887 168 598 186 $158 931 538 80 so
2. Other income 2 595 723 2 348 029 9 246 286 10 944 840 13 214 639 12 468 911 47 591 621 39 721905
3. Total income.... ............................. 16 440 866 9 720 424 79 075 236 67 866 775 61569 588 34 20 798 216 189 807 198 653 443
4. Miscellaneous deductions from income ............... .... 677 014 491 563 3 119 261 3 130060 2 524 514 1 272 215 13 114 031 9 078 878 60
5. Income available for fixed charges--................... 15 763 852 9 228 861 75 955 975 64 736 715 59 045 074 32958 583 203 075776 189 574 565
6. Fixed charges: 5 150895 5 085 28 4 018 69 2 545 99 16 42 210 15 297 97
6-01. Rent for leased roads and equipment............... 850 755 891 302 5150893 5085 238 4 018369 2545 939 16 42 210 15297927 40- -40
6-02. Interest deductions /...............--------------- 5 789 964 3 742 332 22 601 819 22 491909 8 947182 10 289 533 53 537 810 62164 815
6-03. Other deductions.............................. 24 377 23 864 143 115 144 206 77 815 75 439 458 534 461 413
6-04. Total fixed charges- -................ ....-.-- 4665 096 4657 498 27 895 827 27721353 13 043 366 12910911 70419554 77 924155
7. Income after fixed charges-.................... 11098756 4 571363 48 060 148 37015 362 46 001 708 20047 672 132656 222 111650410 20-- --2-- ----o
8. Other Deductionse .fix a .............-- .. 287 837 333 070 1736 567 2 038 395 1563 952 1 487 652 9 317 944 8 751 471
8. Net incomens........................................ 10 810 919 4 238 293 46 323 581 34 976 967 44 437 756 18 560 020 123 338 278 102 898 93.9

10. Depreciation (Way and structures and Equipment)......... 4109049 3 825 430 24 292 914 22 508 494 11 986 503 11 359 176 71 545 111 67 568 459 0 o
11. Amortiation of defense projects ---------------- -- 211 601 219 042 1 270 939 1 316 149 622 420 606 107 4 038 200 3 594 986
12. Federal income taxes ... ................. .........----------.. 6 216 678 2 527 446 28 460479 21266 486 22 561 607 8163 349 70 877 380 64 077 070
-20-TOJ------ ------------------------- -to
13. Dividend appropriation s 9 000 1345 500 8 496 637 7 688 854 9 303 301 8 819 301 35 546 625 29 943193
13-02. On preoerre stock................................ 10223 10 223 1 645 007 676 950 2 134 740 360 000 24 719 200 15 559 226 -0 I I I -
Ratio of income to fixed charges (Item 5+6-04) ... 3.38 1.98 2.72 2.34 4.5J 2.5 2.88 2.43 1946 1947 A F M1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items Selected Liability Items e at t a o J AN&LYSIB OF NET INCOIO--ALL CLASS I RAILWAYS
Balanoe st the end of June Balance at the end of June
1948 1947 1948 1947
Reports showing Reports showing
17. Expenditures (gross) for additions and betterments- 40. Funded debt maturing within 6 months /. ..118,460,828 $144,528,875 Period Net Inoome Net Deficit
Road.....................14.........6,379,955 .118,878,220o Fn d d t aug.h.6 oh...184.2 1...7... 5,7t,9o oNt
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable / .................... ........,000 4,275,000 Number Amount Number Amount
Equipment....................... .......... .................. ............ 416,366,130 231,809,946 42. Traffic and car-service balances-Cr.......... 9 6 ,28 86,99
19. Investments in stocks, bonds, etc., other than those 4. Audited accounts and wages payable........................... .... 514,967,014 477,3,5 June 1948 108 $104,894,980 15 $10,824,394
of affiliated companies (Total, Account 707) .......... 53875,911 578,572,760 Miscellaneous accounts payable .......................... .2,7933 220281,29 June 1947 85 479,160,855 3 3750,091
20. Other unadjusted debits........................................ ............... 156716,76 177,53,061 Interest matured unpaid 562, 2 58,917958 6 month 198 97 288 387 7 5
_45._......_--_-_---------_-------______-------------_'4_5_2_58*917, 6 month 19148 97 288 339,709 2 2 30,107,295
q2g go c45. Dividends matured unpaid ..... ...... ........................... 20,5 208 15,927,4 6 months 1947 92 245,: 8,793 30 21,194,428
21. Cash.... ................. ................................... ............................ 87 ,6 3 9 ,8 5 47 Unmatured interest accrued........ ....... .. ........ 57,510,533 52,368,728
22. Temporary cash investments......... ........................... U atured dividends declared 15,72,2 12,5 ,92
23. Special deposits.. ...... ...... ........... 122,1,53 1,71 49. Accrued accounts payable 2o0,0o4,966 164,1,775
Traffic and car-se Avruea ount payble. ............... ...........
24. Loans and bills receivable.......................... ... 12,577,296 23o,7 50. Taxes accrued 635,374,848 542,68,906 Exlude reports of roads whose net income
2. Traffic and car-service balances-Dr.. 59,577,958 46, 61,851 51. Other current liabilities. 98,86,197 11366,569 (or defloit) was absorbed by the controlling company.
2 Net balance receivable from agents and conductors. 15,1,201 123,729,953 ......
27. Miscellaneous accounts receivable .... ... .,, 269,0,313,382 52. Total current liabilities (items 41 to 51)......... 1,926,503,654 1,748,926,690 Period Number Exluded
28. Materials and supplies--..............21,161,7 73,09660
29. Interest and dividends receivable ......................... 16,847,713 16,201,200 53. Analysis of taxes accrued: June 1948 4
30. Accrued accounts receivable ....... 177 ,1)3 1,753, 3 53-01. U. S. Government taxes ... ..4,59 66 412,168795 June 1947 4
31. Other current assets .......35,72,736 ,57,7 53-02. Other than U. S. Government taxes 1. ,74,582 130,514111 6 months 1948 4
32. Total current assets (items 21 to 31).......... 3.,475,801,043 3,524,09,570 54. Other unadjusted credits ... 293,954,935 346,045,331 6 months 1947 4


/ Represents ooruals, including the amount in fault.
Excludes Missouri & Arkansas y. Co. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt In default) which becomes due within six months
after close of month of report.
/ Includes obligations which mature not more than one year after
date of issue.








INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


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

FOR THE SIX MONTHS ENDED JUNE 194, AND 1947


mET RAILWAT OPERATING INcom OBEAL I1I001 DIVIDAI IR BAILWAY OPERATING INOM 7DERL INCOME DIVIDED
Im8 8 TAzBS APPROPRIATIONS INCOE 0 TAES APPROPRIATIONS
Region and rall and8 railway 41947
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1917


United States Tot 4


171$ 903,228 $141, 94


$113.559.525 $92.7 1


Eastern District Total ............... 129.950,854 110,439.324 52.229,059 43.164,543 50.525.197 30.513,986 20,563,021 17,834.999
eow England Region Total ............. 10,635,003 6,870,054 4.266,279 d 835,922 3.590,468 1,615,043 132.892 132,865
Bangor and Aroostook ................... 1,889,942 1,159,164 1,618,978 906,932 1,028,047 550,243 95.700 95.700
Boston and Maine ....................... 3,270,984 2,985,929 1.343.341 986,27 1,024,622 899,21 -
Canadian National Lines in Bev England d 637.461 d 564.728 d 7353 d 666.75 -
Canadian Pacific Lines in Maine ........ 32,830 286 -
Canadian Pacific Lines in Vermont ...... d 6 223 625655 -
Central Vermont ........................ 48 475 191,511 d 399.699 d 67390 41,387 36953 -
Maine Central .......................... 1.34,1316 1,106,463 78,447 59,38 474,636 413,69 37,192 37,165
New York Connecting .................... 315,552 243,386 d 35330 d 124.779 -
New York, New Haven and Hartford ....... 4,438,581 2,560,572 1.94.531 d 143.7U 1,021.776d 285.060
Butland** ..............................d 89993d 473233t d 258.637 9,2 -
Great Lakes Region Total ............. 56,141,213 50.374.103 31.573,355 22,649,072 18,905.449 12,199.276 9,894,627 6.986,227
Ann Arbor .............................. 387.273 292,555 290,220 189.356 184,696 115,970 -
Cambria and Indiana ................... 151.076 223408 17.582 20,578 266,847 255,316 120,000 120,000
Delaware and Hudson ...... ....... 3,398,196 3,073.45 2,54.628 2,211,661 1,577,000 1.50000 -
Delaware, Lackawanna and Western ....... 64,66297 4,0383 2,151.933 1,488,326 1,243,o56 371909 422,206
Detroit and Mackinac ................... 24, 201,611 236,962 148.506 142,869 101,67 -
Detroit and Toledo Shore Line .......... 567,51 520,216 520,609 472,111 322.655 295511 120,000 120,000
Erie ................................... 8,623,938 5,583,358 5.538.181 2.501,124 3396,330 1.351,692 3,244,907 3,244,907
Grand Trunk Western .............. ... 1,300,600 2,260,811 d 1.095.88 d 9665 14,186
Lehigh and dson Biver ............... 158,748 152.999 177,63 165.398 116068 106,643 94.140 94,140
Lehigh and Sew ngland ................ 851,607 595,029 788,621 532660 490,276 326347 -
Lehigh Valley ......................... 3321,931 2,910,062 418,363 121,902 d 73.054d 17.500 -
Monongahela .......................... 663,860 1,052,568 454.065 831.579 325o3 366.551 -
Montour ................................ 401,025 399,694 398.515 392,769 24,237 240557 -
sew Tork Central / ........... ... 12,055,80 14,680,265 4,143,2 350.976 770,054 790,687
New York, Chicago and St. Louis ........ 7,4,100 5,031,723 6,900,643 3,90,894 3,932,000 2,257563 2,704238 1,01694
lew Tork, Ontario and Western** ........ d 754360 d 43717 d 1476.7 d 110.559 -
New Tork, Susquehanna and Western** .... 177,766 1 7692 d 3004 d 97,486 -d 13,964
Pittsburgh and lake rie ............... 4.891,529 3,414,022 3,172,765,96 2.359061 1,b8.,831 2,590950 1,727300
Pittsburg and Shawmt ................. 298,726 35~4176 231,021 294,706 136,385 -
Pittsburgh and West Virginia ........... 926.54 570,604 688,771 338,794 428,777 220,119
Wabash ................................. 5.926,579 5,279,472 4,672,663 3,961,481 3.042.389 2,223,391 598.186 598,186
Central Eastern Region Total ......... 63,174,638 53,195.167 16,389,425 21,351,393 28,029,280 16,699,667 10,535.502 10,715.907
Akron, Canton & oungstown ............. 544.971 434,140 428,351 334.758 261,978 204,683 92,377 86,493
Baltimore and Ohio ..................... 20,281,849 15,613,229 9.159.677 5,218,031 4,318,622 1,657,230 -
Bessemer and Lake Erie ................ 3298,525 3,218,710 2,801,149 2,672,701 1,922,740 1,703,851 -
Central BR.. of New Jerseyy* ........... d 2.24 0 d 199938 d 11.265.812 197 1,200 159 -
Central B.1. of Pennsylvania ........... ,92,77 3,874,962 2,627.476 1,21,09 3,497 503 -
Chicago Eastern Illinois ............ 1.045,493 289.873 512,525 27,800 11,000 -
Chicago & Illinoi Midland ............ 871,131 673,415 665,122 512,506 451,672 3 900 -
Chicago, Indianapolis and Louisville ... 995,607 d 260.752 617,336d 560,129 4,606
Detroit, Toledo and Ironton ............ 1.529,111 1. .567 1,385,773 1.5039 730,416 832,56 490,664 490,66
Elgin, Joliet and Eastern .............. 3,653.457 2,841,536 3,51,870 2,681,906 2,42959 1751,062 -
Illinois Terminal ............... ... o07.902 807,430 630,216 528,333 42,500 378,300 180,000 180,000
Long Island ............................ 3.5600 d 2.338.213 4. .0d 3.21.116 -
Missouri-llinoi ...................... 535,505 423,209 548770 430705 336,000 263,000 -
Pennsylvania ........................... 18,097,071 16,3e3,960 653,921 3.790,986 9,669,113 2,455,586 6,583.877 6,583.877
Pennsylvania-Reading Seashore Lines .... d 2026.32 d 1i620 626 d 2496032 d .3 183817 160,707 -
eading ............................. b.) 5 634473b 4,b9440 627 2,909,966 3,247,852 2,44.8417 2,09s,684
Staten Island Rapid Transit ............ d 266 7 d 283315 d 537.624 d 56858 -
Western Maryland ....................... :, 29, 3.913.357 2,760o727 2,659,20 1702,000 1.683000 -
Wheling and La e ......... .. 4,076,975 331 3,205,4 445 2,465,000 2,032,000 740,167 1,276,189

Southern District Total .............. 112,383,681 104,400,202 82,664,070 78.370,883 50,500,651 47,036,738 32,730,679 29,433,113

Pocahontas Region- Total ............... 42,554.731 47,478,267 36,340,489 43,393,916 22.040,172 25,770,252 22,589,035 21,067,309
Chesapeake and Ohio ................... 19,343.173 23,789,731 14,004,560 20,609,31 9,008,801 12,014,703 12,056,628 11,911,385
Norfolk and Western ................... 17,949.5 17.416,513 17,876,56 17,271,070 10,300,000 10,275,000 8,658,800 7,252,317
Riohmond,. redericksburg and Potomac .. 1437966 1,482,422 1,469,684 1.550,952 894,841 1,047,964 310,032 340,032
Virginian ............................. 3.824,(12 4,789.601 2,989,789 3,962,583 1,836,530 2,432,585 1.563.575 1,563,575


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


34,976,967


28.460,479


2L.266.486


S---------


947,275
168.275
d 30,181
5.035,337
d 2,60 1186
2,071,86


765,000
142,842
77,964
2,450,000
82,942
10,000
2.280,000


409,000
117,443
900,000
82.947
20,000
1,755,000


10.141.644


896,828
18,000

1,650,739

1,855,335


8.365.S04


784,725
30,000
1,650,814

1,406,835


Southern Region Continued
Clinchfield ..........................
Columbus and Greenville ............
Florida East Coast** ................
Georgia R.R. Lessee Organization ...
Georgia & rForida* ..................
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 yr. of Alabama ..............


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


Northwestern Region Total .........
Chicago and North Western ...........
Chicago Great Western ...............
Chicago,Milwaukee,St.Paul and Pacific.
Chicago,Saint Paul.Minneapolis & Omaha
Duluth, Missabe and Iron Bange .......
Duluth, South Shore and Atlantic** ...
Duluth, Winnepeg and Pacific .........
Great Northern.......................
Green Bay and Western ..............
Lake Superior & Ishpeming ............
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 .....
Chicago, Burlington & Quincy .........
Chicago, Rock Island and Pacific .....
Colorado and Southern...............
Colorado & Wyoming ...................
Denver and Rio Grande Vestern ........
Tort Worth and Denver City ..........
Northwestern Pacific .................
Sacramento Northern ..................
Southern Pacific .....................
Southern Pacific Transp. System / ...
Toledo, Peoria & Western .............
Union Pacific ........................
Utah .................................
Western Pacific ......................


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


$3.506.950
101,967
2.147,488
582,260
d 92.237


282,092
4.058,155
13.564.533
8,675,686
139,616
1,374,933
1,246,776
391,252
7,509,468
13,728,164
a 6.731


$3.833,424
d 129453

316,07ol
d 81.647


280,695
3,686,779
13,029.826
9,076,628
81,115
1,060,984
869,609
189,619
5,520,299
10,872.591
l-.2TO


$109.800
d 7,517
d 496.0o36


d. I ....I I


127,925
2,632.806
9,081,265
7,332,070
93,182
802,019
1,118,623
279.397
5.85.,o78
8,754,0o68
d 128.713
lr.4l


I + -'_


d 517.815
d 469.151


124,973
2,327,682
8,302,341
7.849,582
27,324
500,187
744,395
7.953
4,270,51
6, 324,7
d 145.034
10.873


$325,121
13,852
20,000

92,000
1,613.000
5.s09,000
4,382.750
55.727
493,045
790,000
235.075
2,903,000
5.805,000
d 17,104
131,2E5


$325.o89
1,153


91,000
737.269
5.331,000
5,00,800o
20,760
276,869
520,000
7,628
1,475,000
4,185,000
,9


$559.359
4,11u,00

255.982
37,001
750,000


14,118,400



375.000


A----------------------------------------
16.q.8 I I 7~0I~10r7 rm~~IaIIi


28,529,409


2,926.121
1,663,729
4,261,133
1 280,291
2,899,245
339.046
13 ,890
7,421,227
15588
i 5,4ss7
2.5.747
640,999
1 874.14o
6.185.155
21,490
959, 2o
1,830,330


28,223,145
14,264,197
8,388,489
355,746
371,408
6,167,128
864,238
123,628
1 295.186
17.307,818
24,632,778
321,236
12,842,846
1 2544
2.077. 3


49,080,193
1,058,922

474.432
4,760,303
507,200
1,689,286
107,324
3,592,743
10,822,555
1.402,522
52,630
2,602,280
4,558,812
215,534
5,873.034
d 376 ,919
7, 32960
3,880,154
200,5149


34.202.192


3,408,407
73414.8
7,803,287
389.328
2,192,834
207,496
s88,564
7,103,605
161,981
206,960
906,770
529,566
7.513.,705
79,790
904.516
1.971,235


860.8 7. 2. .42 .4..4.
-,-~~-~------ 4- ----


13,8.24 1.5.6 .1236 671.6 I 1.q4,qq .
S41*I __ _


669,396
1,329,896
723,290
d 1.430.943

d 4,715
6b.07;,213
165,o44
270,809
650,798

d 33,166
d 696,640
873_.19


1,238,703
322,025
4,353,316
d 753,768
1,974,657
a 227.124
d 125,833
6,096,039
172,817
212,576
943.929
87,676
5.172,635
18,824
d 731.333
1,003.630


22,019,328
15,085,830
9,152,077
4,961
182.758
3,116,920
545,059
272,856
d 302.631
15.091, 7
22.411,:02
d 26.162
15,600,511
70,171
1.033.527


43,121.165


1.176,035
d 48.932

3,333.042
574.738
1.161.392
133.423
2.352.692
10,418.024
1.557.487
42,192
1.347,197
4,554.823
114,072
5.380,151
d 442.,827
7,319,426
3,620,388
278,249


24.999.143
11,846,608
6,700,286
161,398
317.157
3.75 ,635
324,228
127,206
d 666,o96
19,629,612
291,281
26,163,560
d 119.728
959,012


327 I 2
4 4 _


1,047.524
d 227.352
d 746.721
3.5M:985
445,856
1.597,034
37.621
2.177,585
4,019.475
97,638
31.308
2.230.399
2.382.593
190,026
4,.57.962
d 470.910
5. 90,223
2,941,555
275.250


18,467,267
13,320,867
3.137.586
d 182.561
14 ,206
1.143,615



16,966,794
a 96.357

31,689
749.236


7,3 374.0 7.000


1,100,102
d 618614
3991,70
510,485
997,110
51.951
1,003.772
3,617,328
212,644
20.183
1,036,069
1,953,202
60,392
4,070,683
d 546.115

2,552,228
208,929


670,000

1,911,555

a 4.769.,876
130,590b
165,992
357,067
142,000

350,000


4,486,960



4.638,825
125,000
53.550
300,000
719.104
71,160


2,804,350



4,63s,824
125,000
107,100
300,000
719,104
71,160


25,000
d 145,382
1,596,000
1,299,820

1,930,000
99.646
130,400
562,901
1,019,000
17,484
200,000


52.640,690 #,}90,166 42,721.u6 44.535421


16,441,775
8,338.513
4.554,400
259,806
101,092
1,059,600
283,970

7.599,00o
11,199,679
178.527
13,450,000
374.000


13,051,829
8.341.431
1,923,000
37.575
106,000
276,799
70.748

9,o048,874
13,073,057
11,499,590
27,300
7.000


429,000

2,495.00o
388,255
1,226,921
58,205
1,371,000
1,350,000
68,000
50,053
888,000
1,567,050
119,000
3,586,078
3,600,672
1,914,812
167.000


322,000

1,385,000
319,447
786,000
49,857
596,000
550,000
224,000
20,585
321,000
1.307,000
40,000
2,462,983
4,024,183
414,o0o
130,000


10,385,500
5,125,161
1,763,453

1,978,242


7,545.526
7.545.526
13.l105,412
2.917-X P


10,385,500
5,125.161





7,545,526
7,545,526
8,659,592


-

420,000
265,785
150,000





3.092,985
1,853.665

1,367.675
I


420,000
265,789
150,000









1,367,675


- ______ ______ L _____ I ______ I. _____ A ______ _____ .1 __________________ L _____ L _____ L _____ I _____ I ______ I _____ '~ ____ I ______


SReport of receiver or receivers.
** Report of trustee or trustees.
Deficit or other reverse item.
S Includes Boston & Albany, lessor to New York Central R.R.


S Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
S Includes Atchison, Topeka & 'Santa re Ry., Gulf, Colorado & Santa Pe By., and Panhandle & Santa Is By.
/ Data not included in totals. Includes Southern Pacific Company, Texas and Now Orleans B.B. Co., and leased lines.


U. S. GOVERNMENT PRINTING OFFICE: 1948 800193


Page 2


69,828,950


1,167,614
235,682
5,634.2 :7
974,64
198,314
4,077,171


56,921.935


693.411
159,273-
d 48.063
3,008846
d 2350,49

2.949.,936


46,323,581


1,568,751
233.413
127,570
6,914,002
a 1,537.302
3.181,981


Li


I


LI


-1


I


7


-L


-t





-1


I


I


I


IL


-I-


LL


. as ,...


I





L


I


)


*


-r


-r


852$ 231 407 $224 4 5


851 931 538 123 338 278 1 9


I :


86 598 156


07 577 380 64 077 070 60 2 9


13.586,124


7.91 58.769 0 2&


7,6 34 869
|
01 394 59 5


81 608.181


7.q928.520


59q.5,.q960


91 ,279,046 12.952 055


7 150no 220)460


30.823.634


23,781.210







Subject to revision


IIVERSITY OF FLORIDA

II III III llIllll 1|| INTERSTATE COMMERCE COMMISSION
BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


Statement No. M-125
JULY 1948


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of July For the seven months of For the month of July For the seven months of For the month of July For the seven months of

1948 197 1947 1941 1947 19448 947 19 17 14 1947 1948 1947

1. Net railway operating income.. ...-....... $105 256 808 $61 197 624 $516 189 529 $430 603 566 $34 072 569 $18 821 079 $164 023 423 $124 895 079 $8 816 655 $3303 167 $51 371 3CS 50781 434
2. Other income........ 16 138 416 16 526 785 127 370333 115 046 563 6 634 005 7 071 33C 56 717 495 50406 032 728 910 595 964 5 09 40 5 114 297
3. Total income..... ........................... .. 121 395 224 77 724 609 643 559 862 545 650129 40 706 574 25 892 408 220 740 918 175 301 111 9 545 565 3 899 131 56 41C 816 55 895 731
4. Miscellaneous deductions from income................. .......-- 5 056 191 6 376 e82 39 107 323 24 972 723 617 703 728 060 14 340420 4 876 480 1 625 563 375 661 5 729 686 2614 195
5. Income available for fixed charges..-..... 116 339033 71 347 777 604 452 539 520 677 406 40 088 E71 25 164 346 206 400 498 170 424 631 7 920 C02 3 523 47 C 50 690 130 53 281 536
6. Fixed charges:
6-01. Rent for leased roads and equipment ............. 12 280 085 8 204 373 76 254 475 71 136 583 7 196 068 7 186 778 49 504 537 49 644 623 13 842 15 607 105 660 106 808
6-02. Interest deductions/ ...... ........ 24 138 553 25 904 975 168 275234 182 315 647 10 553 757 10914 613 74 348 656 76 405 009 1 094 834 1 045 37 7 418 832 7 308925
6-03. Other deductions ............... 166 769 165 284 1 029933 1 022231 44 491 63 704 292 183 305 636 2 27 1 462 16 120 10859
6-04. Total fixed charges 36 585 407 34 274 632 245 559 642 254 474 461 17 794 316 18 165 095 124 145 376 126 355 268 1 110 973 1062 44 2 7 540 612 7 426 592
7. Income after fixed charges.............. 79 753 626 37 073 14 358 892897 266 202 945 22294 555 6999 253 82 255122 44 069 363 6 609 C29 2 461 028 43 149 518 45 854944
8. Other Deductions 32....... 79417 2734 78C 22 864769 20132238 1385717 1080 872 9608526 7688464-
9. Net income... 76474209 34338 365 336 028 128 246 070 707 20 908838 5918 361 72646596 36 380899 6 609 C29 2 461 025 43 149 518 45 654944
10. Depreciation (Way and structures and Equipment) .. 31 221196 29 459 025 214 897 703 204 766 484 12 544 669 11991 71 86 897 582 4 299 683 2 210 832 2 188 32 15 796 401 15 111 436
11. Amortization of defense projects .......- ...------ .. 1 373 752 1 346 596 S 697 856 9 472 997 468 804 470 88 3259118 3315 156 70 654 59 65 495 305 430 883
12. Federal income taxes 48 854 376 21 322 71' 220 757 605 165 234 606 11 801 984 2 612 568 62 327 182 35 410 649 4 737 560 1 386 604 26 777 732 27 156 856
13. Dividend appropriations:
13-01. On common stock ................. 4 911 593 3 524 81 85 462 063 74050798 508 153 20 00 14 992212 12 79 579 22 023 149 20534 359
13-02. On preferred stock....... .......1 088 075 1 365 765 34 573 130 23 610 311 298 591 839 352 6 853 553 6 314 772 219 903 219 S90 785 789 752 853
Ratio of income to fixed charges (Item 5+6-04) 3.18 2.08 2.46 2.05 2.25 1.39 1.66 1.35 7.13 3.32 6.72 7.17


SOUTHERN REGION WESTERN DISTRICT
MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
Items OF DOLLARS OF DOLLARS
Income Items For the month of July For the seven months of For the month of July For the seven months of 100 tA OF o
1949 1947 1949 1947 1948 1947 194g 1947

1. Net railway operating income ..... ......... $11908975 $4977 24 $81 737925 $61 899 179 $50458609 $34 096 336 $219 056795 $193 027 874 80 ---o
2. Other income.... ............ ...... 1 944 957 2 056 001 11 191 243 13 000 840 6 830 544 6 803 490 54 422 165 46 525 794
3. Total income...... ................... .. 13 853 932 7 033 244 92 929 168 74 900 019 57 289 153 40 899 626 273 478 960 239 553 268
60 --------1-1 ---(1-----60
4. Miscellaneous deductions from income ................. 546 166 183 36C 3 665428 2 313 420 2 266 759 5 089 751 15 380789 14 168 62860- 6
5. Income available for fixed charges.. ... 13 307 766 6 849 884 89 263 740 71 586 599 55 022 394 35 810 075 258 098 171 225 384 640
6. Fixed charges:
6-01. Rent for leased roads and equipment .... 806 074 831 233 5 956 967 5 916 471 4 264 101 170 755 20 687 311 15 468 681 40 -~- -- -40
6-02. Interest deductions/. .......... 3 474 941 3 901 911 23 954 914 26 393 821 9 015 021 10 043 076 62 552 832 72 207 892
6-03. Other deductions .. 27 171 23 667 170 286 168 072 92 810 76 251 551 344 537 664
6-04. Total fixed charges................... 4 30J 186 4757 011 30082167 32 478 364 13 371 932 10290 084 83791487 88 214 237
7. Income after fixed charges............ 8 999580 2 092 673 59 181 573 39 10235 41 650 462 25 519 91 174 306 684 137 170 403 20 -- 20
8. Other Deductions 339 598 326 775 2 384197 2 365 170 1554102 1 327 133 10872046 10078 604
9. Net income 6 659 982 1 766 098 56 797 376 36 743 065 40 096 360 24 192 85 163 434 638 127 091 799
10. Depreciation (Way and structures and Equipment). 4 152 276 3 857 961 28 445190 26 366 455 12 213 419 11 420 451 83 758 530 78 988 910- 0
11. Amortization of defense projects....------.-----....... 212 174 219 116 1 483 113 1 535 265 622 120 596 707 4 660 320 4 191 693
12. Federal income taxes ............ 5 747 396 1 881 727 34 207 875 23 148 213 26 567 436 15 441 815 97 444 816 79 518 888
-20 --- ------- -- ------------- -20
13. Dividend appropriations: O
13-01. On common stock... ... 3292881 2967 263 11789518 10656 117 1 110 55 557 550 36657184 30480743
13-02. On preferred stock....... ... 569 581 10 222 2 214 588 687 172 296 285 24 719 200 15 855 514 -40 I I III I1-40
Ratio of income to fixed charges (Item 5+6-04) 3.09 1.44 2.97 2.20 4.11 3. 3.08 2.55 J F M JA S 0 N J FMAM J J A 0 ND J AM N


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items BBalance t Seleoted Liability Items e a t a o ANALYSIS OF NET INOCOUE-ALL CLASS I RAILWAYS
Balance at the end of July Balance at the end of July
1948 1947 1948 _197___
Reports showing Reports showing
17. Expenditures grossp for additions and betterments-
17. Expditures (ross for additions and better146,464017 40. Funded debt maturing within 6 months /. .. $118,653,708 $84,354,922 Period Net Income Net Deficit
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable / 5. 000 ...... 30150,000 550,000 Number Amount Number Amount
Equipment ...... .47,89,6b 271,270,422 42. Traffic and car-service balances-Cr. 94,281,726 2, 845,310
19. Investments in stocks, bonds, etc., other than those 4 Audited accounts and wages payable ... 4,873,478 456,089,683 J 1948 104 S,78,250 19 $1,904,04
of affiliated companies (Total, Account 707) 53335?2,513 567,77,220 Miscellaneous accounts payable 2 .355 91 227,723,240 July 1947 91 2,410,014 31 8,071,69
20. Other unadjusted debits. .19, 66,720 185,296,558 45. Interest matured unpaid 6... ,9 109,02 7 months 194 98 365,135028 25 29,106,900
S4. Dividends matured unpaid ...... .. .... 10,176 412 7,52,69 7 month 1947 91 282,210,589 31 36,139,882
21. Cash ...... .......... .......... .................. .... 929,591,412 9 312, 47. Unmatured interest accrued. 67 93 ,979 67 3 9:292 m
22. Temporary cash investments .... 947,999,966 7. Unmatured interest accrued 67,933,979 60,369,292
22. Temporary cash investments........ .. .. ... 9 7 Unmatured dividends declared 17,593,727 13, 1, 554
2:. Special deposits ......... ...... ... 127,172,906 155,524 49. Accrued accounts payable... 212,7l,080 1n 1 a 5,
Loans and bills receivable ... 12,477,600 4c,762
2 Traffcandbcareceibles-Dn534,047 50. Taxes accrued 65...719,3:,6 602,937 76 Excludes reports of roads whose net income
Net balance receivable from agents and conductors 12,053,26 11,175,62 i ...
27. Miscellaneous accounts receivable .31. 71:,21 2 ,317104 52. Total current liabilities (items 41 to 51)... 193,101,532 1,75,37,931 Period Number Exoluded
28. Materials and supplies. ....... 23,721,03 739,557,09
29. Interest and dividends receivable ... ... 13,16,307 13,300,19 53. Analysis of taxes accrued: July 1948 4
30. Accrued accounts receivable 180,974,610 155,642,122 53-01. U. S. Government taxes .. 62,632,664 45664 20 July 1947 4
31. Other current assets 36,357,403 32,976,416 53-02. Other than U. S. Government taxes 56,712,216 146 073,530 7 months 194 4
32. Total current assets (items 21 to 1) ... 3.602208308 347052,0 54.Other unadjusted credits .29700,124 351, 9157 months 1947


d Decrease, deficit, or other reverse item.
Y/ Represents accruals, Including the amount in default.


2/ Includes payments of principal of long-term debt (other than
long-tern debt in default) which becomes due within six months
after close of month of report.
2/ Includes obligations which mature not more than one year after
date of issue.


91 lel











INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS
FOR THE SEVEN MONTHS ENDED JULY 194 AND 1947


F BIT ILWA OP BINGO IBA L INCOME DInTIDm D NIB RAILWAT OPERATING FEDERAL ICOIM DIVIDEND
IR OPM INC1M TAWU] APPROPRIATIONS I OME T TAXES APPROPRIATIONS
Region and railway T T Begion and railway
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947


United States Total .................. $516.189,529 $430.603.566 $336,028,128 $246,070,707 $220,757.605 $165,234.606 $120,035.193 $97,661,109

Eastern District Total ............... 164,023,423 124,895.079 72,646,596 36,380.899 62.327.182 35,1410,649 21,845.765 18,694.351

New England Region Total ............ 12.742,413 7.662,175 5,186.265 d 1.062,630 4.415.051 1.548,823 151.571 151,458

Bangor and Aroostook ................... 1.942,079 1.164,583 1.624.253 868.424 1,074,667 526.703 95.700 95,700
Boston and Maine ....................... 3.963,521 3.387.910 1,715,108 1.049,597 1,298.847 992,194 -
Canadian national Lines in New England.. d 717666 d 691.03 d 832.172 d 809.060 -
Canadian Pacific Lines in Maine ........ 299404 225,873 -
Canadian Pacific Lines in Vermont ......d 730.753 d 77041 --
Central Vermont ....................8.... 1,273 266.20 d 549 f50 d 74 7 4,07 43.553
Maine Central ........................ 1,576.883 1.255,190 930,111 603,63 604,7o 468,133 55,871 55.758
ew TYork Connecting .................. 376.558 259.704 2858 167,622 -
Sew York, New Haven and Hartford ....... 5,558,773 3.035,329 2.531,721 a 1.131,905 1,389,376 d 481,760
Rutland ............................... d 7.659 d 505.159 d 11,2 733.867---

Great Lakes Region Total ............. 69.607.121 57.068.565 40,000.729 24,121,093 22,352.180 13,060,681 10,390,627 7.547.074

Ann Arbor ............................. 487,978 314,770 373.311 194.443 235.727 116.636 -
Cambria and Indiana .................... 234.114 239.177 230,242 35.599 319.599 292.055 120,000 120.000
Delaware and Hudson .................... 43,,168 3,495,375 2,859.287 2,494,461 1,77,000 1,714,000 -
Delaware, Lackawanna and Western ....... 5.612,934 4,618,076 2,68749 1,666,760 1,557.746 395.773 422.206
Detroit and Mackinac..................... 340,032 216,466 28.4091 154,302 170.495 103,848 -
Detroit and Toledo Shore Line .......... 64,717 560,650 590,518 504,877 365,503 316,636 140,00o 140,000
Erie ................................... 10,118,023 6,080,787 6,518.563 2.510.547 3.997,536 1.316.530 3,244,907 3.244,907
GrandTrunk Western .................... 1,614,351 2,279,176 d 1,207.088 d 384,930 10,000 -
Lehigh and Hudson River ................ 191,222 155,501 211.03 169,47 138.988 110,001 94,140 94,140
Lehigh and New England ................. 1,004,299 700,498 930,261 62,8082 578.313 384.832 476,000
Lehigh Valley .......................... 4.005.017 2.936.364 631,117 4 329.684 d 7.0 d 17,500
Monongahela ............................ 775.766 1,339,064 531,845 1,07467 380.1 200,829
Montour ................................. 456,500 445,303 453.842 437.287 274,595 262.44 -
New York Central / .................... 17.538,440 17794.203 7,276,615 4,247,867 906,826 897.306 -
eaw York, Chicago and St. Louis ........ 9.190,331 5,463,823 8,152,435 4,205,669 4,615.500 2,367,063 2,704,238 1,622,541
New York, Ontario and Western** ....... d 84.891 d 6 1.677.515 d2 1. .649 -- -
Sew York, Susouehanna and Western** .... 192,062 169,899 d 35,454 d 15.086 d 196 -
Pittsburgh and Lake Erie ............... 5625711 3.974.975 51 320097 2731 1955756 2590,950 1727.3
Pittaburg and Shawaut .................. 31,444 383.616 240,072 314148 169,385 -
Pittsburgh and West Virginia .......... 1,104,260 677.820 830,686 408,324 517,600 264,905
Wabash .............................. 7.154.643 5.809.960 5.671.714 4,281.854 3,687.527 2,383.131 598,186 598,186

Central Eastern Region Total ......... 81.673.889 60,164.339 27,459.602 13.322.436 35.559.951 20,501.145 11.303.567 10,995.819
Akron. Canton & Youngstown ............. 651.151 467,048 513,.30 348,085 313.773 212,175 92,377 86,493
Baltimore and Ohio ..................... 24,867,277 17.985.106 11,872,189 5.86,311 5.760.222 1.745.908
Bessemer and Lake Erie ................ 4,352,081 4,091,345 3,771,612 3.453.285 2,578,234 2,183,615 -
CentralR.R. Co. of New Jersey-"...... d 2.461.246 d 2.361.228 d 11.368.899 1.618775 1.200 41 --
Central R.R. Co. of Pennsylvania ....... 5833,832 4.563.552 35127,60 1,15.,89 4,263 5,203 --
Chicago & Eastern Illinois ............. 1,156.866 315,826 552.082 292,500 500 -
Chicago & Illinois Midland ............. 1,092,656 773,252 854,289 584,349 567,572 354,000 -
Chicago, Indianapolis and Louisville ... 1,143.942 393.438 702,672 d 750.376 4,606 -
Detroit, Toledo and Ironton ............ 1.831,991 1,840.748 1.664.277 1,653.612 866,336 914.778 490,664 490,664
Elgin, Joliet and Eastern .............. 4,257.354 3.230,111 4.095,062 3,043,461 2,710,497 1,925287 -
Illinois Terminal ...................... 1075,823 950,104 752,997 623,892 527,000 445,900 180,000 180,000
Long Island ............................ 3.082.272 d 1.520.024 da 4122,938 d 2.599774 --
Missouri-lllnois ............... .... 615530 '464,983 60.731 474.327 386,000. 290,000
Pennsylvania .............. .............. 25,225:478 16,192,839 3.747,353 a 8.090.278 12,846.094 4,942,834 6,583.877 6.583.877
Pennsylvania-Reading Seashore Lines.... a 3. 321 1.,07I204 2d.485.3049 1T9S 214.453 214,434 -
eading ............................. ... 7. 1541 7194.12 5o606.52 5. 599 3.452.807 3.455.954 2,728,329 2,378.596
Staten Island Rapid Transit ......... d 34660 d 1_ a 00 66o d 646 29 -
Western Mayland ....................... 4,791,745 4,314l, 3,313.885 2.837632 2,04600 1,757,910 -
Wheeling and Lake Erie ................. 4,933.115 3,780.002 4,88,907 3.669.696 2,993.000 2.318,000 1,228.320 1,276.189
Southern District Total .............. 133,109,311 112,680,613 99,946,894 82.598,009 60,985,607 50,305,069 36,813,044 32,630.501

Pocahontas Region Total .............. 51.371.386 50,781.434 43.149.518 45.854.944 26,777.732 27.156.856 22,808,938 21.287,212

Chesapeake and Ohio ................... 23,636,254 24,937.326 16,476,471 21,044,123 11,032,401 12,286,107 12,056,629 11,911,486
Norfolk and Western ................... 21,344,254 19,023,867 21,214,685 18,866,627 12,400,000 11,125,000 8.878,702 7,472.219
Richmond, Fredericksburg and Potomac.... 1,755,569 1,699,384 1,798,706 1,782,074 1,097,841 1,189,964 310,032 30,032
Virginian .............................. 4,635.309 5.120,857 3,659.656 4,162,120 2,247,490 2,555.785 1,563.575 1.563.575


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 & Texas Pacific..


36.743.065


34.207.875


. ,,
--1~~~~~~11-- 1~~~~ ~ -1- -~- ~ ~ I I -


1,878,105
269,508
140,221
7.697.656
298,248
97,748
3,785,004


1,110,598
181,077
d 15.934
5,177.219
d 1
83.,763
2,430.,846


980,000
164,926
81,520
2,650,000
82,942
20,000
2,710,000


23.148.213


509,000
131.162

900,000
96,772
20,000
2.030,000


14.004.106


896,828
18,000
49,272
2,474,166

1,.65.557


11,343,289


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


1,417,057


Southern Region Continued

Clinchfield .........................
Columbus and Greenville .............
Florida East Coast** ................
Georgia H.B. 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 ....................
Vestarn v. of Alasba ..............


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


$4,096,642
108,309
1,984,139
693,036
d 73.087
323,258
4,922.929
16.536.936
10,560,501
175,037
1.560,295
1,504,073
539.56s
8,430,786
16.381,350
d 811
250,387


219.056.795


$4,098,409
d 148.738
1,207,753
376,034
d 83.55
281,.14
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
d 92.2'6
129,224


. ...


$116,730
d 531,715

143,800
3,260,094
11.312,295
8,990,629
120,257
889,327
1,355.184
400,776
6,534,429
10,48s,764
d 143,503
240,871


d $13,8.269
d 1,257,130

d 539,965
100.780
2,592.471
9,458,064
7,982,089
28,792
561,545
888,063
20,912
4,654,625
6,605,889
d 224.122
- 11715


391 oansyle 163 434 638 127 091 9


$379,308
18.852


107,000
1,997,000
7,216,000
5,439.325
72,174
551.512
955,000
353,o14
3.293,000
7,015,000

145.958


$379.270
1.153


84,000
890,269
6,079,000
5,230,600
21.659
345.619
625,000

1.550.000
4,255.000
d 73.314
73-523


$1,118.718
6,177,600

511,964

37,001
750,000

105,000


$6,177,600



375,000

60,000


97.444,816 79.518.888 61.376,354 46,336.257


3,689,327


600,000
799,000
190,000

3,279,100


137,736
288,800
437,567

362,000

565,000


8.606.642 10.44.,149 8,915.538


25.000
d 221.382
1,388, 00
2,452,562

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

1,005,000
17.484

350,000


4,486,960



4,635.825
125,000
107,100
300oo00
719,104

71,160


2,804,350



4, 638,24
125,000
107,100
450,000
719.104

71,160


69.458.358 55.526,488 43,778,125 34,533.421


21,967.033
10,558.270
6,679,000
238,817
127,267
1,216,o00
486,622


9,894,635
13,996,872
209,529
17,438,382
642,00


17.517.829
9,533.531
2,968,000
81,412
123,000
485,099
420,692


10,577,835
15,221,822

13,799,590
12,500
7,000


24,297,131 15,385.755


430,495


2,915.000
426,679
1,444,921
63.583
1,864,000
2,800,000
133,755
66,504
1,010,597
2.68,o050
169.000
4,159,201
4,102,234
2,377,812
265,000


366,000

1,585.000
352,052
909,000
54.852
906,000
850,000
196,000
18,855
368.00o
1,582,065
76,000
2,751.947

4,640,97
V.,000
182,000


10,385.500
5.125,161
2,820,462


1,978,242





13,105,412
2,817,822


10.385.500
5,125,161






7.545.526
7,545.526
8,659.592

2,517.642


7,150,110 2,887,298


420,000
265.785
150,000





3,092.985

1,853,665


1.367.675


420.000
265,785
150,000










2,051,513


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

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

Central Western Region Total .......

Atchison, Topeka and Santa Fe o/ .....
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 ................
Sacramento Northern .................
Southern Pacific .....................
Southern Pacific Transp. System ...
Toledo, Peoria & Western .............
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-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 & Gulfe* .........
Texas and Sew Orleans ................
Texas and Pacifio ....................
Texas Mexican ........................


40.457.231


4,363,119
1.943,847
.5.632,215

5, 8.995
394.511
139,111
10,649,912
164,604
444,316
812,198
d 373.097
7.783,85
74,110
1.259,097
2,190,940

118,587,o04

37.403,922
17.375.355
12.018,090
314,464
406,263
7,044,734
1,241,429
235,867

21,706 949
29,934,628
346,421
18,261,482
d 40.414
2.617.395
60,012,516

1,208,066
398,027
977,428
5,634,404o
545,926
2,039,814
122,748
4,621,332
14.292.370
1,4go131
71,020
3,055,264
5.692.905
307.258
6,757,40os
d 442-542
8.227,679
4,714,981
30s,297


41.637,158 21.953.228


3,594,888
917,468
8,318,254
354,485
4,569,452
295,372
106,966
9,3 9.046
146,587
402,517
1,04g,989
375.10s
8,788,983
92,277
773.691
2,213,075


1.729,943
1.547.004
1.504,379
d 1.410,715
4,825,151

d 914, 1
9,268,461
174.455
471,115
793,455
d 211,327
3,0o8,508
10,443
d 676,271
1,050,442


100,293,032 103,026,545


29,243,231
16,14,8956
11, 45.300
58,053
208.172
3,675,339
1,144784
365.798
d 26,M
18.171.464
26,633,561
d 340,979
1.7933;4 2
50,426
1,415,365


33,696,424
14.538.238
10,057,770
86,363
352.876
4,181,401
609,216
239.519
S 763.671
4.528.379
23,583,598
315,547
33.934.074
d 142.,52
1.393:2


51,097,684 38,454,865


1,240,780
50.943
485,905
3,916,425
642.555
1,342.720
155.114
3,015,668
12,543,655
1,772,559
40,563
1,522,625
5.362.307
178.012
6,162.193


4,269.190
380,703


1,194.504
d 29633
d 447782

474.287
1,E98,695
34,126
2,960,467
6,158.575
S 142.767
45,393
2,627,569
3,107.178
277,371
5.701,324
d 552.152
6,555,130
3.609.745
433.918


24,134,478


1,332,502
48,226
4,317,021
d 980.964
4,333,337
d 14.1

7,751,291
156,123
408,054
1,084,697
15,865
5,650,458
20,735
d 1.124,579
1.079.683

74,636,058

25,134.117
14,694,110
4,842,433
d 162.874
171.761
1.376,288
506.795
167,055

6798,855
21,107,136
d 3.743.010
2442:77ffl
5.575
1,129,493

28,321,263

1,152,647
d 611.500

2,9 7,839
567.o42
1,150,600
53.733
1,434,403
4,414,037
201,765
14,913
1,158.602
2.335.088
115,331
4.661,441
d 567.463
T,903.267
3,031,096
300.231


__ __ __ __ __ I __ _L_ __ I __ __ L __ .1 __ _ _J_ 1 _.._ ._ _.._ _


S Report of receiver or receivers.
** Report of trustee or trustees.
SDeficit or other reverse item.
ai Includes Boston & Albany, lessor to New York Central N.R.


b Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
o Includes Atchison, Topeka & Santa Fe By., Gulf, Colorado & Santa Fe y4., and Panhandle & Santa Fe By.
e Data not included in totals. Includes Southern Pacific Company, Texas and New Orleans R.R. Co., and leased lines.

U. S. GOVERNMENT PRINTING OFFICE :1949 800133


Page 2


91.737.925


61.g99.179


56.797.76


1.500,252
274,815
111.651
5.688,683
1.089,790
250,865
4,825,521


881,264
174,927
d 38.904
2,674,481
a 386.910
2385,34
3,4g1,256


-- - i i -I i i .. -- i-. 1 1 1


a


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L


A-


a


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. ..... .. .. .


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INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


Subject to revision


Statement No. M-125
AUGUST 1948


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of August For the eight months of For the month of August For the eight months of For the month of August For the eight months of
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 194 1947

i. Net railway operating income ............*-- ---- 15 709 718 (81 145 52 29 631 899 245 $511 538 517 42091 866 26 020 84 2206 115 288 88 50 705 345 $11 480 b06 A9 641 501 (62 852 192 S60 422 935
2. Other income ............. ................... ...... 14 589923 14 252 802 141964443 129299366 6 581 446 6648 425 63 03 128 57054 457 747 742 677 374 5787 172 5791671
3. Total income ......-... -..........................-- 130299 641 95596 330 773 863 68 640 837 883 48 673 312 32669 267 269418416 207 759802 12 228 54 10 318 875 68 639 364 6 214 606
4. Miscellaneous deductions from income.......... 4 749457 3447 157 43 856 764 28419881 689 613 661 427 15030038 55537907 1 634 176 498 38 7 354864 3112 5b4
5. Income available for fixed charges....-....... -- .. 125 550184 91951173 730006 904 612 418 002 47 983699 32007 840 254388 378 202 221 695 10594370 9820486 61284500 63102 022
6. Fixed charges:
6-01. Re ch or leased roads and equipment............11409716 10670 598 87 664 188 81 807 179 7 288 209 7 165 679 56 792744 56 810 300 13 614 14 939 119474 121747
6-02. Interest deductions / 2...... ---------------.---------.--- -- 25 021 315 25611 335 195296561 207926 93 10 600083 10981161 84 948751 87 586 191 1098 414 1046 768 8 517246 8 355 693
6-03. Other deductions .......------ ... ............ 168256 157 460 1198190 1179711 54 86 51769 347 069 357 405 6719 2244 22839 13103
6-04. Total fixed charges......................---..-- 36 599 287 36439 413 282158 939 290 913 73 17 943 176 16 198 29 142 088564 144553 96 1118947 1063 951 8 659559 8 490543
7. Income after fixed charges ................---. ---------- 85 950 8'7 55511760 447 847965 321504129 30040521 13809 211 112 299 814 57667999 9475 423 8756 535 52 624 941 54611479
8. Other Deductions .....- -------............ .. 3 441 064 2 867 705 25 944 257 22 999 94Z 1 370 423 1 167 693 10 978 949 8 656 357 -
8. Other Ddutions.. 85 509 633 52644 055 421903708 298 504186 23 670096 12641 318 101 320 865 48 81 642 9 475 423 8756 535 52624 41 54611479

10. Depreciation (Way and structures and Equipment) .... 31547670 29586632 246445572 234 353 116 12775776 12042647 99673357 96342 32 2353037 2175 689 18149438 17287125
1. Amortization of defense projects-----..... ----- --- 1 380 987 1354 569 11278843 10827566 467 106 467 152 3726 225 782 308 68 583 63458 563888 494 41
12. Federal income taxes........ .... ..........--...--. 50913660 30738 444 271 671 271 196 160 735 12 739193 4263 24 75 066375 39861574 6 198 540 5 25240 32976272 340919
13. Dividend appropiationstock ..........21621964 17 446 17 084027 9131244 20000 20 1000 15 012 212 1 399 579 10 864059 10153 318 32 687208 30 687677
13-02. On preferred stock....-.....-----------.......... 4 318 935 4 518 989 39275816 27929300 467 559 467 556 7 74 863 6 782 326 i 850 291 1 E50348 2636080 2603201
Ratio of income to fixed charges (Item 5+6-04)... 3.43 2.52 2.59 2.11 2.67 1.76 1.79 1.40 9.47 9.23 7.08 7.43

SOUTHERN REGION WESTERN DISTRICT
SOUTHERN REGION WESTERN DIST T MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
Income Items DOLLARS OF DOLLARS
Income Items For the month of August For the eight months of For the month of August For the eight months of 100 100
1948 1947 1948 1947 1948 1947 19 1 9 47

1. Net railway operating income-......................-- ..-----------. 411 872 055 535 134 $3 609 980 68 434 312 $50 264 991 368 948 01 $69 3. 765 8231 975 925 80
2. Other income............ ........................----- ................... 1 42 802 990 233 12 434 045 13 991074 6 017 933 5 936 770 60440 098 52462164
3. Total income ---............----- -. --.. ..... 13 114 657 7 525 367 106 044 025 82425 386 56 282 924 44 684 821 329 761 663 284 438 8b9
60 1-- ------ 60
4. Miscellaneous deductions from income ................74374 449 766 4 239802 3 763 206 851292 1 837 555 17 232 080 16 006 1b4
5. Income available for fixed charges .................- 12540483 7075 561 101 804223 78 662160 54431 652 43 047 266 312 529 803 266 431 905
6. Fixed charges:A A
6-01. Rent for leased roads and equipment............... 794670 835004 6 751 637 6751475 3313023 2654976 24000333 18 123 657 40 40
6-02. Interest deductions/............----------- .......... 3 526 889 3750515 27 481 603 30144 336 9 795 92; 9 852 71 72 348761 2 040763
6-03. Other deductions _. -......... ------ ...........25 812 24 099 196 098 192171 80 9 79 368 632 164 617 032
6-04. Total fixed charges.......4..7 .......-- ..-- 4 47371 4 609 618 34429538 37 087 982 13 189791 12 567 215 96 961278 100 781 452
7. Income after fixed charges............................. 8 193112 2465963 67 374685 41574198 41241 641 30480 051 215 548 525 167650453 20 20
8. Other Deductions .... ......... -- --- .----.-........................... 202290 220 204 2 304911 2585 374 i 788 351 1479 C08 12 660 397 11 558 212
9. Net income ......... -- ............................................-- ------ 7 910 622 2 245 759 65 069774 38 988 624 39 453 490 2 000 443 202 b8 128 156 092 241

10. Depreciation (Way and structures and Equipment) 419 7 904 637297 3270 8 12226950 11463915 95 985 480 90 452 -82
II. Amortization of defense projects.------------------- 212122 218 829 1695 235 1754094 633 174 605 130 5 293495 4796 823
12. Federal income taxes.. .................... ...................... 5 678051 2962195 39885926 26 110408 26 297802 18 260669 123742698 97 779 5 7 -2
-20 -I--- C -- --= '' ''' -- --20
13. Dividend appropriations: 1 6 O I 1
13-1. On common stock.................................112 99 11 902517 10 656 117 1062490 7107128 4728090 3758771
13-02. On preferred stock ........... 10 223 10223 2 224811 697395 1 990 862 1990 662 26 710062 17846 7 -40 I -4
(e d3JFMAMJ J ASONDJ FMA MJ JA5SOND J FMA M J J A OND
Ratio of income to fixed charges (Item 5+6-04)... 2.88 1.53 2.96 2.12 4.13 3.3 3.22 2.66 1946 1947 1948


UNITED STATES UNITED STATES
Seleoted Expenditure and Asset Items t t e o A Selected Liability Items Balance ANALISIS OF NET INCOME--LL CLSS I RAILWAYS
Balance at the end of August Balance at the end of August
1948 1947 1948 1947.
Reports showing Reports showing

17. Expenditures (gross) for additions and betterments- i207,967,318 $173,097,433 40. Funded debt maturing within 6 months 2/.. ...... 8105 391381 87,969,155 Period et Income Net Deficit
18. Expenditures (gross) for additions and betterments- 553,24,299 317,282,552 41. Loans and bills payable ......................................... 3,150,000 5,310,000uont ube Amount
Equipment.......................... ............ ...........-service balances2,297,
Equipment............ 42. Traffic and car-service balances-Cr. 91 003,905 90,592>165 August 1948 104 g7,go6,957 19 $2,297,124
19. Investments in stocks, bonds, etc., other than those 54o,187,566 566,793,028 43. Audited accounts and wages payable .... ......... ... 5086,987 538,390,770 August 1947 92 55,646,4 29 3,002,s9
of affiliated companies (Total, Account 707) .... 4 Miscellaneous accounts payable ............................ 228,6003 195,431,113 8 months 1948 00 450,624, 23 28,720,695
20. Other unadjusted debits..... ............... .. 144I,813,613 186,205,146 4 Interest matured unpaid ............................27, 551 36,325,62 8 months 19 90 331,807,14 32 33,02,95
46. Dividends matured unpaid ... ... .. ..............,597,155 7,733,855
21. Cash .. ................... ...... 991,098,879 1,028,956,352 47- Unmatured interest accrued .... ......_... .-. .. 78,625,099 69,765,900
22. Temporary cash investments............ .. ........ 98 328,67 981,108,990 4g. Unmatured dividends declared...... ........... 36211,763 29,91,108
SSpecial deposits................................. ii J2 ,65 131,141, 49. Accrued accounts payable ....... ..16,106,1i 173,99,0
Loans and bills receivable............................. 12,81,71 11,399,0314 50. Taxes accrued 739,255,5Z 605,822,819 Excludes reports of roads whose net income
I;. B IH F st^ ^ :^^^; "1 46 r" l (or deficit) was absorbed by the controlling company.
2. Traffic and car-service balances-Dr ...i7208,927 147,538952 51. Other current liabilities ........... ......10,399,37 9,99,5 (or dfit)wa bsoed by the ontrolln omny.
2 Net balance receivable from agents and conductors- 1 1,300,099 125,251,380
27. Miscellaneous accounts receivable.... 351,717,068 280,531,863 52. Total current liabilities (items41 to 51)..... 2.113653.437 1.48.009,287 Period Number Exoluded
28. Materials and supplies. ........ .. 830,159,347 742,870,900
29. Interest and dividends receivable .. ............. 17,25,220 17,168,224 53. Analysis of taxes accrued: August 19474
30. Accrued accounts receivable. 188,308,430 167,053,102 53-01. U. S. Government taxes 51,156,5 450,733,427 Agust1944
31. Other current assets 3.57,742 34,235,096 53-02. Other chan U. S. Government taxes .. 18,098,8 15,09,392 months 1944
54. Other unadjusted credits .... 02,213,961 35,282,409 months 1947 L
32. Total current assets (items 21 to 31) ........... 3733,297,630 3,567,255,509


d Decrease, deficit, or other reverse item.
I/ Represents accruals, including the amount in default.
SExcludee lissouri & Arkans.s Ry. Co. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt in default) whioh becomes due within six months
after close of month of report.
/ Includes obligations which mature not more than one year after
date of issue.




L o (/P4. o 1' -. f


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UNIVERSITY OF FLORIDA

1111111111111111111111111111 1 1752111 111
3 1262 08851 1752


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 1948 AND 1947


PagFe 2


EaR BAILWAY PERATI NG IN FEDERAL INCOME DIVIDE11D I1R RAILWAY OPERATING N INCME I EDERALI INCOME DIVIDiND
INCOME TA S APPROPRIAIl01TS INCOME TAXES APPROPRIATIONS
Region and railway Region and railway
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947

United States Total .................. $631,899.245 $511.538,517 $421,903.708 $298,504,186 $271,671.271 $196,160.735 $146,359,843 $119,260,544 Southern Region Continued
Eastern District Total ............... 206,115,288 150,705,345 101,320,865 48,811,642 75066,375 39,861,574 22,717,075 19,181,907 Clinchfield .......................... $4,711,443 $4,661,505 $433,524 $433,464 -
C0---Columbus and Greenville .............. 108,822 154.27 $117,165 $142912 18,852 1,153 $17.238
New England Region Total ............. 15,129,077 9,145,620 6,409,646 d 828.561 5,403,633 1,732,090 199,421 199,308 Florida East Coast** ................. 1,775,722 d898,76 1,102,223 d 192646- -
Georgia R.R. Lessee Organization ... 820,822 428,412- -- -
Bangor and Aroostook ................... 1,961,822 1,119,392 1,59.8766 781,047 1,062,111 473,149 143,550 143,550 Georgia & Florida* ................... 534 d 50253 d 59659 d 57,559 -
Boston and Maine ....................... 4,893.574 3.893,358 2,324,591 1,214,396 1,722,071 1,119,678 Georgia Southern and Florida ......... 323,396 251,894 18,2 4031 107,000 4,000 -
Canadian National Lines in New England d 884,473 d 739,914 d 1,016.176 d 874.46 -- Gulf, Mobile and Ohio ............... 5,815,504 4,642,511 3,909,661 2,974,317 2,397,000 1,115,269
Canadian Pacific Lines in aine ........ 288619 153.568 Illinois Central ..................... 18937,834 17,062,084 12,981,546 10,7S8,117 8,280,000 6,934,000 1,118,7138
Canadian Pacific Lines in Vermont ...... 826,218 81007 Louisville and Nashville ............. 12,9,1726 10,9140,2014 ,155,57 9,011,412 6,62,100 5,49,600 6,177,600 $6,177,600
Central Vermont ...................... 478.299 354.958 d 694939 797380 54,787 50,153 Missisoippi Central .................. 207,267 102,06 173,246 29.565 104,577 22,132 -
Maine Central .......................... 1,772,245 1,h22,214 1,032,493 67.,132 687,688 542,570 55,871 55,758 Nashville, Chattanooga & St. Louis ... 1,825,453 1,235,465 1,052,538 4s88,445 652,660 292,20 511,964 -
New York Connecting ................... 470,230 304,176 6,228 182,9 New Orleans and Northeastern ......... 1,760,033 1,150,653 1,d91.,76 982,P17 1,115,000 720,000
New York, ew Haven and Hartford ....... 6,929,883 3,980,252 3,338,563 61 b 1.76,76 6 d 453,460 Norfolk Southern ..................... 633,732 200,157 73,9 8444,9 132,7
tland .............................. 45.096 52797 d 179883 7 Seaboard Air Line .................... 9,476,800 6,400,937 7,309,078 3,698,000 1,590000 750,000 375,000
Southern ............................. 19,219,949 13,505,36 12,389,15 7.258,377 8,36,000 4,s45,000
Great Lakes Region Total ............. 86,294,569 65.902,824 51,502,504 27,914,.53 26,630,997 14,948,912 I 10.410,630 7,567,074 Tennessee Central ..................... 55,455 d 10,061 108,711 d 258,117 d 34,208 d 8,576
Western By. of Alabama ............... 291,830 167,4 03 280554 153,275 171,S30 9562 105,000 60,000
Ann Arbor .............................. 633,471 401,636 502,386 264,235 317.055 160,o08 -o 6000
Cambra and Indiana........................ 335.54 289,086 331,21 4,663 387,421 349,667 120,000 120,000 Western District Total ............. 269,321,785 231,975,925 202,888,128 156,092,241 123,742,698 97,779,557 73,992,152 55.434,247
Delaware and Hudson ...................4. ,676,574 3,917.162 3.557.3314 2,778,261 2,219,000 1,916,000 i
Delaware, Lackawanna and Western ....... 6,21,426 5,406,668 3,41,817 2,021,072 2.012,919 530,526 422,206
Detroit and Mackinac e ................... 389.553 251,751 326,712 181,690 199,511 119,401 Northwestern Region Total .......... 55,653,029 51.747,708 32,969,039 31,082,086 10,444,107 11,149,445 10,448,149 8,915,538
Detroit and Toledo Shore Line ............ 731,286 610,840 669.514 547,236 413,919 343,667 160,000 160,000
Erie ................................... 12185,089 7023,3241 8,07 ,59 2,948,276 4,950,64 1,533,560 3,244,907 3,244,907 Chicago and North Western ............ 6,135,242 5.025,003 3104,3814 2,057,835 1,380,000 225,000
rand Trunk Western .................... 2,496504 2,704,241 d 74,01 d 35695 10,000 Chicago Great Western ................ 2,393620 1,194,509 1,936,947 662,061 1,014,000 d 97382
Lehigh and Hudson River ................ 215,206 162,218 236,597 177,67 156,699 117,000 94,140 94,140 Chicago,Milwaukee,St.Paul and Pacific. 8,353,417 9,642,944 3,614,141 5,063,468 1.469,000 1,611,00 14,486,960 2,804,350
Lehigh and 'ew England ................. 1,228,810 868,807 1,141,734 785,9 709,151 481,513 476,000 Chicago.Saint Paul,lminneapolis & Omaha 430,727 541,S97 d 1,102,411 d 985 -
Lehigh Valley .......................... 5 ,134 3,566,372 1331.716 d 203011 d 7305 d 17500 Duluth, isabe and Iron Range ....... 7,166,537 6,495,664 6911,11 ,22 679200 3610791 -
Monoongahela ........................ 942,953 1,264,012 63,870 963,85 434,40 44,016 Duluth, South Shore and Atlantic" ... 444,170 380.890 d 06.799 569- -
ontour ....................... .... ,039 516,255 537,502 507.476 333,602 305,.64 Duluth, Winnepeg and Pacific ......... 156,682 129,185 d 137,036
New York Central a .................. 23,473,693 20,622,918 10,816,560 4,815,362 1,036,097 603,355 Oreat Northern ....................... 13,980,703 12,213,823 12,035.195 1000992 d 1169,76 3,320,000 4,638,S25 4,638,824
New York, Chicago and St. Louis ........ 10,598,501 6,385,625 9,466080 4,967,640 5,307,000 2,770,063 2,704,241 1,622,541 Green Bay and Western ................... 170,12 113,890 173,038 121,266 141,21i 114,705 125,000 125,000
New York, Ontario and Western** ........ d 852,353 d 713,s89 d 1,801.411 d 1,792,540 Lake Superior & Iehpeming ............ 618,294 575,782 646,370 582,151 396,600 37.,000 107,100 107,100
New York, Susquehanna and Western**. 236,380 166,728 d 20013.964 Minneapolis & St. Louis ........... 1,069,56 1,179,555 1,012,294 1,212,709 514,067 740,901 300,000 450,000
Pittsburgh and Lake Erie ............... 6.93,333 14,673,903 5 2.33 3.770.635 3,191.174 2,301,965 2,590,950 1,727,300 inneapolis, St. Paul & S.S. Marie ... 218,341 443.572 7,836 15,65 719,104 719,104
Pittsburg and Shawmut .................. 353,71 437,123 264,393 357,861 192,785 Northern Pacific ..................... 10,184,286 10,241,752 4,221,604 6,329,787 1,270,000 1,095,000
Pittsburgh and West Virginia ........... 1,289,631 794,253 90045 46,74s 611,050 315,142 Spokane International................ 100,797 105,12 28,173 22,92 24,900 22,30 71,160 71,160
Wabash ................................ 8,201,050 6,548791 6,504,31 4, ,711 1,231,400 2.673.559 598,186 598,86 Spokane, Portland and Seattle ........ 1,800,708 911,44 d 8 6 d 115,051 -
Wisconsin Central / .............. 2,429,132 2,549,670 1,127,19 1,272,6 65000 350,000 -
Central Eastern Region Total ......... 104,691.2 75,656,901 43,408,715 21,725,350 43,031,745 23,180,572 12,107,0214 11,415,525
Central Western Region Total ....... 1143,O ,4400 120,619,981 124,124,012 91,58,5540 83,s0O4,886 68,355,775 56,393,893 43,631,411
Akron, Canton & Youngstown ............. 767,850 522,637 610,306 383.356 372.397 232,361 92,377 86,493 .
Baltimore and Ohio ..................... 29,247,268 20,59,738 14,380,109 6,486,797 7,077,22 1,902,008 Atchison, Topeka and Santa Fe c ..... 43,960,729 33,837,141 39,837,337 29,240,587 25,862,033 21,525,259 10,385,500 10,385,500
Bessemer and Lake Erie ................. 5.,339,715 5,084.693 41676,070 4,358.75 3,209,688 2,758,811 Chicago, Burlington & Quincy ......... 21,378,028 20,691,872 18,134,651 18,126,271 13,197,226 11,666,731 5,125,161 5,125,161
Central R.R. co. of New Jersey** ....... d 2.502.166 d 2,52.314 d 11.325626 d 1537.40 1,600 241 Chicago, Rock Island and Pacific ..... 14,557,7014 14,377,999 12,1466,238 6,394,675 8,211,000 3,920,000 2,820.462 -
Central R.B. Co. of Pennsylvania ....... 64529 5.3 2 367,20 1,30,45 5,028 6,291 Colorado and Southern ................ 421,136 173,366 161,821 d 1 309,558 160,098
Chicago & Eastern Illinois ............. 1,3142,5 421,198 624,519 33,100 46,000 383,751 Colorado & Wyoming ................... 471,267 257,327 419,321 221 564 163,567 152,200
Chicago & Illinois Midland ............. 1,3728.42 947,335 1, 99,400 728,700 717.372 452,700 Denver and Rio Grande Western ........ 8,007,050 4,708,667 4,66,1714 2,082,468 1.451,S00 653,599 2,329,919
Chicago, Indianapolis and Louisville ... 1,244,366 d 317598 7.050 d 71786 4,606 ort Worth andDenverCity ........... 1,374,825 1,543,076 49,619 811,57 525,055 635,899 -
Detroit, Toledo and Ironton ............ 2,187594 2,6,93 1,994,57 1,831,12 1,02.555 1,002,202 90,664 490,664 Northwestern Pacific................. 375153 431720 379,036 2148076 --
Elgin, Joliet and Eastern .............. 4,977,036 3,684,588 4,791130 3,398,022 3,178,838 2,150,369 Sacramento Northern .................d 32432 d 33405 d 68,901 d 86,521 -
Illinois Terminal ................ .. 1,274,682 1,122,529 905,968 749,357 630,200 531,800 180,000 180,000 Southern Pacific ..................... 234,085 21,333638 4,368,174 7.56766 11,22.521 12.554,499 12,261,480 11,318,289
Long Island ............................ d 2,423,763 d 954,257 d 3,613,096 d 2,188,257 Southern Pacific Transp. System e/ ... 34,70,1429 31,014,099 26,956,513 24,40,992 16,034,110 17,8145,931 12,261,1480 11,318,289
Missouri-Illinois ...................... 663,281 507,742 60,724 519,07 425,000 317,000 Toledo, Peoria & Western ............. 380,443 d 362,010 344,09 d 38 227,218 -
Pennsylvania.......................... 35,832,083 23,085414 10,706,283 d 4,6666 15.50,075 4,974,667 6.583,877 6,583,877 Union Pacific ....................... 24,020,090 21,91,66 1,791,3 9,21,16 21,676,761 16,999,590 20,653,549 13,9814,19
Pennsylvania-Reading Seashore Lines .... d S1222 d 1,s96,027 d 2 14 1492 l ,2 245,089 245,067 Uah................... 6 3 2,212 1,6 3 14,900 -
Reading ................................ 9,015,03 21193 679,5 5,75,30 4,139.91 3,848,039 3,148,035 2,798,302 Western Pacific ...................... ,20,83 2,001,371 1 2 958,1 83,000 2,817,22 2,81742
Staten Island Rapid Transit ............ d 92,73 353706 d 7537.2 3 ,72915 -.
Western Maryland ....................... 5,814,661 5,010573 4,126,711 ,316,658 2.578,000 2,069,910 Southwestern Region Total .......... 70,624,356 59,60s,236 45,795,077 331425,615 29,493,705 18,274,337 7,150,110 2,887,298
Wheeling and Lake Erie ................. 5,897.915 ,354,673 5,845,377 14192.290 3.557,000 2,638,000 1,228,320 1,276,189
Beaumont, Sour Lake & Western** ...... 1,286,637 1,287,822 1,270,936 1,216,763 471,495 396,000 -
Southern District Total .............. 156,462,172 128,857,247 117,694,715 93,600.303 72,862,198 58,519,604 49,650,616 44,614,390 Surlington-Rock Island ............. 460,636 153,114 d 285305 603623 -
International-Great Northern** ....... 1,35,875 719,629 24,151 d 935.471- -
Pocahontas Region Total .............. 62,852,192 60,122,935 52,624,914 54.611,479 32,976,272 32,109,196 35,523,288 33,290,878 Kansas City Southern ................. 6,64,391 4,597,506 5,529,901 3,432,827 3,5,000 1,760,000 420,00 420,000
Kansas, O'kahoma & Gulf ............. 6G4,895 715 71' 583,022 615,047 518,640 37,955 265,785 265,785
Chesapeake and Ohio .................... 29,712,313 29,896,433 20,743,329 25,270,033 14,068,001 148,62,997 18,092,42 17,939,756 Louisiana & Arkansas ................. 2,391,296 1,561,2 2,199,741 1,340,717 1,669,921 1,074,50 150,000 150,000
Forfolk and Western .................... 25,1d2,111 22,538.581 25,256,158 22,356,453 14,850,000 13,150,000 13,098,151 10,988,427 Midland Valley ....................... 130,032 168,646 22,535 47,271 6363 54,9 -
Richmaond, Fredericksburg and Potomac ... 1,965,980 1,12,;12 2,015,116 2,tO4,213 1,227,841 1,337,964 | 310,032 340,032 Missouri-Ernnsas-Texas ................. 5,629,189 3,752,1l77 3,731,214 1,950,331 2,398,000 1,316,000 -
Virginian .............................. 5731.788 6,075,09 14,610,338 4,980,780 2,830,1h30 3,058,235 1 ,022,663 4,022,663 Missouri Pacific** ................... 17,16,240 l14,t79,099 8,117,739 5.714,125 4,200,000 1,50,000 -
New Orleans, Texas & Me.dico** ........ 1,190,030 1,900,16 ~ 253101,657 133,755 166,000 -
Southern Begion Total ................ 93,609,980 68,434,312 65,069,774 38,988,824 39,885,926 26,110,408, 14,127,328 11,353,512 Oklahomla City-Ada-Atoka .............. 88,940 1 3,788 b,63 14,032 82,391 20,050 -
St. Louis, Brownsville and 1:e.dco5* .. 3,296,019 1,673,642 2,817,954 1,218,019 1,035.897 407,000
Alabama Great Southern ................. 1,718,228 1,040,089 2,0743,58 1,243,376 1,115,000 629,000 896,828 7841,725 St. Louie-San Francisco .............. 6,770,926 6,285,136 3,775,667 2,842,608 2,508,550 1,916,065 3,09298 -
Atlanta & Saint Andrews Bay ............ 314,44 197.370 34,999 196,479 186,679 146,4z6 18,000 30,000 St. Louis, San Francisco and Texas ... 374,770 208,563 340,359 174,774 206,000 111,000
Atlanta and Vest Point ................. 135,855 6,125 168,944 20,64 99,006 9,902 9,272 24,636 St. Louis Southwestern ............... 7,~48,645 7,94982 6,360,683 5,127,057 4,777,092 3,158,987 1,853,665 -
Atlantic Coast Line .................... 5,137.292 2,077,61 7,447,737 14,18,537 2,650,000 900,000 2,474,166 2,474,271 San Antonio, Uvalde & Gulf** ......... d 461953 d 1328 d 586:251 d 590,162 3 .
Central of Georgia ..................... 1,305,166 d 403,392 848,995 d o34 956 82,942 110,596 Texas and New Orleans ................ 9, 501 44 9710,2 7,610,43 7,854,27 4,811,59 5,291,131 --
arleston & Western arolina .......... 312,76 2,5 18,850 74,60S 35.000 20.000 Texas and Pacific .................... 5,526965 486592 4,60884 3,71,61 2,7 12 67,000 1,367,675 2,051,
Cincinnati,New Orleans & Texas Pacific 5,530,810 3,9'2,508 4,340,331 2,746,436 3.105,000 2,300,000 1,875,780 1,127,280 Texas Mexican ........................ 311,.79 434,701 486,519 343,655 295,000 200,000 -


Report of receiver or receivers.
00 Report of trustee or trustees.
d Deficit or other reverse item.
a/ Includes Boston & Albany, lessor to New York Central R.R.


b Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
Includee Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa Fe Ny., and Panhandle & Santa Fe Ry.
8 Data not included in totnls. Includes Southern Pacific Copany, Texas and New Orleans R.R. Co., and leased lines.
U. S. GOVERNMENT PRINTING OFFICE:1948 0- 800193


Nov 9-48




UNIVERSITY OF FLORIDA

S11 1111111111 8 1111111 ORONINTERSTATE COMMERCE COMMISSION
3 1262 08851 3261 BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


Subject to revision


V\ ,f

Statement No. M-125
SEPTEMBER 1948


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of September For the nine months of For the month of September For the nine months of For the month of September For the nine months of
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income ............ ....-- ... -110 848 571 148 314 729 $742 747 816 $559 853247 $39 559 045 $7 193 495 $245 674 334 $157 898 840 $10 138 722 $5 734 601 $72 990 914 $67 157 536
2. Other income.................-.....--------.. .... 16 421 306 14 196 628 158 385 748 143495996 7 034 814 5 705 732 70 337 941 62 760 191 572 767 642 142 6 359 939 6 433 813
3. Total income ............. -------------- 127 269 877 62 511 357 901133 564 70 349 243 46 593 859 12 899 227 316 012 275 220 659 031 10 711 489 7 376 743 79 350 853 73591349
4. Miscellaneous deductions from income-..................... 5 524 505 3 295 215 49 381 289 31715 101 663 464 466 463 15 693 502 6 004 373 1 535 072 435 703 8 889 936 3 548 287
5. Income available for fixed charges................... 121 745 372 59216 142 851 752 275 671634 142 45 930395 12432 764 300318773 214654658 9 176 417 6941 040 70 460 917 70043 062
6. Fixed charges:
6-01. Rent for leased roads and equipment............ 11 690 716 10 062 328 99 354 904 91 869 507 7 229 156 6 948 382 64 021 900 63758 681 13 914 13 727 133 388 135 474
6-02. Interest deductions I/-..........-- -------... 24 209284 25645 180 217 505 845 233 572 162 10 554629 10965 594 95 503 381 98 351786 1 120 032 1 041 560 9 637278 9 397253
6-03. Other deductions...........-..... ......... 169 838 166 355 1368 027 1346 067 52 870 66 528 399 939 423932 2 281 1 463 25120 14 566
6-04. Total fixed charges ...............-----.--.. 36069838 35873 863 318228 776 326 787 736 17 836 655 17980504 159925220 162534399 1136227 1056 750 9795786 9547293
7. Income after fixed charges .......... -- 85 675 534 23 342 279 533 52 499 344 846 406 28 093 740 d 5 547 740 140 393553 52120 259 8040 190 5 884 290 60665131 60495769
8. Other Deductions... 3... 018 655 2 190 164 28 962 912 25 190 107 1 364 182 3'5 _531 12 343 131 9 206 908
9. Net income.... 82 656 879 21 152 115 504 560 587 319 656 299 26 729 558 d 5 898 291 128 050 422 42 913 351 8 040 190 5 884 290 60 665 131 60 495 769
10. Depreciation (Way and structures and Equipment)....... 31 816 226 29 494 033 278 261 798 263 647 148 12 824 335 11938 094 112497692 108 280 423 2 351 847 2 190 751 0 501 285 19477 876
11. Amortization of defense projects -...--.--..------ 1 344 086 1 336 915 12 622 929 12164 480 434 747 462 204 4 160 972 4 244 511 70 233 65 284 634 121 559 625
12. Federal income taxes... ..................... ............. 50287614 20381 450 321958885 216 542 185 12447 731 1752 100 87 514106 41 613674 5 220 810 3 550419 38 197082 35 959615
13. Dividend appropriations:
13-01. On common stock...................- ........ .... 17 769 139 9 676 324 124 853 166 101007569 7 557 870 1300547 22 570 082 13 700127 4381 637 32 887208 35069314
13-02. On preferred stock .-....-....-..-..-. ..... 2 935 405 1 189 238 42 211221 29 118 538 116 093 256 535 7 820 956 7 038 863 2 636 080 2 603201
Ratio of income to fixed charges (Item 5-6-04).. 3.38 1.65 2.68 2.06 2.58 0.69 1.88 1.32 8.08 6.57 7.19 7.34


SOUTHERN REGION WESTERN DISTRICT
SOUTHERN REGION WES N D T MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
OF DOLLARS OF DOLLARS
Income Items For the month of September For the nine months of For the month of September For the nine months of 00oo AS OF 0 DO
1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income .................... .. 11 096 236 $4 272 769 $104 706 216 $72 707 082 $50 054 568 $30 113 864 519 376 352 $262 089 789 80 o
2. Other income ...... .................... -- .. .. ...... 1383286 896 359 13 817 331 14887433 7430 439 6952395 67 870537 59414559
3. Total income................. ----....... 12 479 522 5 169 128 118 523 547 87 594 515 57 485 007 37 066 259 387 246 889 321 504 348
60 ----- 60
4. Miscellaneous deductions from income ....... ..... 567 857 284 498 4 807 659 4 047 705 2 758 112 2 108 551 19 990192 18 114 736
5. Income available for fixed charges............ ....... 11 911 665 4 884 630 113 715 888 83 546 810 54 726 895 34 957 708 367 256 697 303 389 612
6. Fixed charges:
6-01. Rent for leased roads and equipment ......... 1077 451 943 434 7 829 088 7 694 909 3370195 2 156 785 27 370 528 20 280 443 40---- ---40
6-02. Interest deductions I/ ..........3..........------ 539 237 3 770 108 31 021 040 33 914 444 8 995 386 9 867 918 81 344 146 91 908 679
6-03. Other deductions....................... 28 314 25 686 224412 215 858 86 373 74 678 718 556 691711
6-04. Total fixed charges........................... 4 645 002 4 737 228 39 074 540 41825 211 12 451 954 12 099 381 109 433 230 112 88C E353
7. Income after fixed charges........................ 7 266 663 147 402 74 641 348 41721 599 42 274 941 22 858 327 257 823 467 190 508 779 20- ------ ------20
8. Other Deductions ......... 179553 256 139 2484464 2841513 1 474 920 1583 474 14 135317 13 141 686
9. Net income 7.. 7 087 110 d 108 737 72 156 884 38 880 086 40 800 021 21 274 853 243 688 150 177 367 093
10. Depreciation (Way and structures and Equipment)....... 4 196 449 3 894 731 36 833 746 34 165 567 12443595 11470457 108429075 101923282 --- -
11. Amortization of defense projects...-----....---------- 211 964 208 003 1 907 199 1 962 097 627142 601 424 5 920 637 5 398 247
12. Federal income taxes........................................ 5 524 367 1 723 541 45 410293 27 833 949 27 094 706 13 355 390 150 837404 111134 947
-20 -------------------------- -- -tc
13. Dividend appropiaton....... 12 000 11914 517 10 656 117 10199 269 994 140 57 481 359 41 582 011
13-02. On preferred stock ...1 431 298 722 703 3 656 109 1 420 098 1 388 014 210 000 28 098 076 18 056 37640 -4
13-02. On preferred stock -------- ------------ --------------- -------- 40 -40
JFMA MJ J ASO NDJFMAMJ J A S0ND 4 FMAM J JASO0ND
Ratio of income to fixed charges (Item 5-6-04) 2.56 1.03 2.91 2.00 4.40 2.89 3.36 2.69 19 46 s F 19 47 1N F 948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items Seleoted Liability Itom -ANALYSIS OF NET ICOIIE--.L.L LASS I RAILWLaY
Balane at the end of SeptembeSeleted Liability Items Balance at the end ofeptember

1948 1947 1948 1947
1 Reports showing Reports showing
17. Expenditures (gross for additions and betterments- ,70060 015,0 40. Funded debt maturing within 6 months 2 ... (146,524,278 $127,104,042 Period Net Income t Defnoit
18. Expenditures (gross) for additions and betterments- 1i. Loans and bills payable 2/ ....... 3,150,000 5,640,000 Number Amount Number Amount
Equipment ........... ..... ......... ...... .... .. 631,308,572 361,662,010 42. Traffic and car-service balances-Cr............ .,786 8 8 37 September 148 0 $85,23881 19 $ 581932
19. Investments in stocks, bonds, etc., other than those 4 Audited accounts and wages payable... 5 ,100,026 49718818 September 1947 84 3,97618 3 4,55 03
of affiliated companies (Total. Account 707) 36 ..461 570,018,784 4. Miscellaneous accounts aespayable 1..........-.... 25 1059, 24,717,189 months 19 10 5 ,219 29~32
20. Other unadjusted debits .............. 4.. ............... 188 93,74 45. Interest matured unpaid ............6. ..... ... ......2~1896,60 7,7 3 9 months 1947 90 0, 71281 ,1 982
42. Dividends matured unpaid 20,924,105 1 8 ,251
21. Cash.......... ........................................ 914,324,810 979,756,854 47. Unmatured interest accrued ...... ... .. 3 4 65 66,50
22. Temporary cash investments............................... 1,025 10,31 1,002,066,871 Unmatured dividends declared 2....... ,--4 13884,87
2. Special deposits receivable ....... .................--...------ 11 ,0 49. Accrued accounts payable..... 182,506,12 173,077 90
2. Loans and bills receivable................ ....... 1 ,7 11 ,5 50. Taxes accrued 7 2591 632,2176 Exlude report of road whose not income
25. Traffic and car-service balances-Dr... 8,8 72,093 48,867,608 51. Other current liabilities. 9 6 92,502 8 (or deficit) was absorbed by the oontrolllng company.
2. Net balance receivable from agents and conductors 1000,376 13187
27. Miscellaneous accounts receivable ........ .. 3637,078 20,. Total current liabilities (items 41 to 51)..... 2.086,235,149 1,851,08984_ Period Number Excluded
28. Materials and supplies ............ ..........834,450,-17 742,744,73 ---------
29. Interest and dividends receivable ..................... 1.,283,5 17,4767 53. Analysis of taxes accrued: September 1948 4
30. Accrued accounts receivable 184 ,52 1. 70,562053-01. U. S. Government taxes 7076,0 40,001,731 September 1947 4
31. Other current assets 36.010,247 35.860952 53-02. Other than U. S. Government taxes 77,3,11 12215,25 9 month 1948 4
52. Total current ass ( s 21 to 4. Other unadjusted credits ....299,885,30 338,835,601 9 months 1947 4
32. Total current assets (items 21 to 31) ...... 3706,918,536 3,566,246,969 ____________ ____________


d Decrease, deficit, or other reverse item.
SRepresents accruals, including the amount in default.
S Excludes Missouri & Arkansas It. Co. Road not in operation.


2/ Inoludee payments of principal of long-term debt (other than
long-term debt in default) whloh becomes due within six months
after close of month of report.
2/ Includes obligations which mature not more than one year after
date of issue.






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 1948 AND 1947


Pag& 2


M A BAILVAT OPERATING F I NCOM FEDERAL INCOME DIVIDEND NET RAII.AY OPERATING IFDERAL INCOME DIVIDEND
INCOME s INCO APPRPRIoATioNS ICOMI U T INCOME TAXU APPROPBIATIONS
Region and railway Region and railway
1948 1947 1948 1947 198 1947 1948 1947 1948 1947 1948 1947 194 1947 19 1947

United States Total .................. $742.747.816 $559.853.247 $504.560.587 $319.656r299 $321.958.885 2l6.542.185 $167.064.387 130.126.107 Southern Region Continued
ast*n Ditriet Total ............... 245.674.334 157.898.840 128.050.422 42.913.351 87.54.10o6 41.613.674 30.391.038 20.738.990 olinchold .......................... 5.305.533 $5.o6o.933 487,739 $487.658
Columbus and Greenville ......... .... 27.17 1 137.33314 30.1153 17,23
w E gland Region Total ............. 17074.825 9.164.645 7.345.086 d 2.29329 6.302.031 1.470.118 199.421 199. orda ast Coast* ............. 1... 1805 6 1 61 30.5 115
O-eorgia B.B. Lessee Organiation ... 960.675 482. -
Bangr and Aroostook ................... 1.969.88 1.119.351 1.567.969 746.947 1.0o3.235 452257 143.550 143.550 Georgia & Florida* ................... d 55 272 6 9 a666.3 d 68s,2s
oaton and Maine ....................... 5.600.278 4,203.562 2.759.0 1,2102T 2.029.296 1.137.261 Georgia Southern and lorida ........... 374.603 24 .14.53 1.717 107000 s4. o00
Canadian national Ln ineIn New gland 75772 d 8 d 124 d 1.010319 Gulf. oble and Ohio .............. 6.777516.5.70 .186.05 2.77.000 1.25.269 1.17.191 70596
Canadian Pacific Lines in Maine ........ 221.096 8 -6 "5 Illinois Central ...................... 21.464.89 18.346.70 114.839. 0o 11.20.71 9.461.000 7.29.000 1.178.718
Canadian Pacific Lines in Vermont ..... d 936.1 d 9 Louisville and lahrill.e .............15.315.572 11,861.92 13.336,290 9.582.295 8.242:475 6.291.727 6.177.600 6.177.600
Central Vermont .................... 56.577 327. d 756, d 9 61487 5753 Missisippi Central .................. 238,249 113, 65 196.839 34. 5 118.896 24.274
Maine Central ........................ 1,890.645 5163 1.058.26 679.193 709,437 549.007 55.871 55.758 Nashville. hattanooga st. Louis ... 2.062.385 1. 724 1.19986 402. 749972 181713 511.964
Now York Connecting .................... 532.955 168.072 13.931 d 2 w Orleans and Northeastern......... 2,031.206 1.327.334 184639 1139.46 1.3 ,0000 855.000
Nw York. New Haven and Hartford ...... 8.11.4755 4086,184 3,988657 2.463.576 d 725160 Norfolk Southrn..................... 720.915 260.506 537.815 4 3 507.513 132,762
sutiand* ............................... 93.330 d o.144d 62, 828822 Seaboard M A Line..................... 10.480358 6,741,885 8.069.514 5.o0.57 4.128.000 1.545.000 750.000 375.000
Southern ............................ 21.553.00 14.998.73 13.769.71S 7.803,5 9. .000 5.355.000 -
Great Lakes Region -Total ............. 101.453.285 67.508.175 62.087.397 24,698,861 30.934.077 16.205.157 10.537.700 8.151,614 Tennessee Central ................. 69.349S d 112081 d 11717s4 d 282o d 9,'208 a 4 3
Ann Arbor..........................*.... 719.506 .435,214 573.032 :3 7,Wso a .o280.,729 360,479 170.119 f 3 405.6o. o
Cabria and Indiana .................. 42350 3142019 4, 137453417 409635 180,000 180,000 stern District Total .............. 319.376.352 262,089.789 243,688.,150 177.367.093 150,837.404 111.134,947 85.579.435 59,63,387
Delawar and Hudon ....000000.................9.76.5 62.0 9 23.6.150 177.367.093 150.374,152.006 3.03 57111. .9 5.579.3559.6
Delaware, Lackawanna and Weetern ...... 7,42.295 5.955.391 4.124.137 2.175,853 2,421,059 539.704 422.206
Detroit and ....... 3 31 299365.353 220.978 222.5 1 1 879 orthuestern Rngion Total ........ 73.017.195 6.356.581 46,465.519 37.737.560 18,864.536 14.386.10710.598.14 9.269.o08
Detroit and Toledo Shore Line ...... ..... 806.670 63o0.911 737.39 559,686 1. 455.:508 37 1 0,0 180.000.
Bien....... 14:,7 7,97 A 739 5 .77 '9 9, N71 3.244.900 3.24.907
r ............................... 14, 932 7,473775 9.7.6 2.892.394 5.899.684 1.59,97 3.24.907 3.2 .907 Chicago and North Western ............ 7.491.683 5.2.504 4,616.275 2.587.518 2,230.000 545,000
Grand Trunk Western .............. 3.75.02 2.591. 4 d 20668 5500 10.000 Chicago Greatestrn ......... 2,727462 1.375,239 20.9277224 1.15000
Lehig and Hudson River ................ 242,270 175.591 .725 19.),4 176,374 128,097 141.210 141.210 Chiao. ilwaukee,8tJ.P and Pacific. 11.152.557 10.766,272 5.786.258 5.594373 2,811,000 1, oo 4,486,960 2804350
Lehigh and Now Enland ................. 1,473.969 1.053.759 1.37 .499 960.594 853.39 588.629 476.000 Chicao.saint Paul,Minneaposli Omha 857.53 739,817 d 869 422 d q -
Lehiuh Vall .......................... 6394.249 3.738.613 2.09.560 d .997 d 73. d 75 Duluth, issab and Iron Range ....... 916449 8,247,972 8,839.639 7 99 5985.286 4.655,007
Mononghela ............................ 1,122,848 1336.740 808.209 999.84 4488.705 99 8 Duluth, South Shore and Atlantis** ... 532,106 352,363 d 29 o d 298.6 -, -
Montour .............................. 640.694 552765 637.557 64142 .415 457470 Duluth, Winnipeg and Pacific ......... 178,056 157.168d d 166100 -
Nev York Central 5..................... 27.675.1 18,456485 13.41,696 451885 1.168.950 673.052: Ort other ....................... 18.462.987 15.499 1 32' 1.659.37 1.580.12)4 4369 .499 4 ,638.25 4.638.24
a YTork. Cicago and St. Loui ........ 12.115.189 7.015.622 10.90.054 5.46,012 6.066.000 2.999.063 2.704.241 1.622.541 Green Bay andWestern................ 160.980 2.266 5.7 8 14, 659 119152 125.o000 15.00
Now York, Ontario and esatern"* ....... d 821.743 d 83.67 d 196 d 2. .66 Lake Superior & Ishpeming ............ 692.664 723.014 722,401 729.990 443,000 47,60 7 160,650
lew York, usqueboanna and Wetarna ....4 185,2 d 12278 Minnapolis & St. Louis.............. 1 37.113 1,37L 1.300.535 i os,321 735,567 s60,901 450 000 750.000
Pittor n Lak ..........:. 7499,119 5.275.3 5.979:.57 4.305.30 3.643 5 2 2590950 1,727,300 Mnnapolis., t. Paul a s.s. ae ... 1.45036 957.1 976.49 3525 525.000 2 O 719.14 719,104
Pittsbor and Sha t ................. 365.917 479229 265.655 390.045 2161 northern Pacific ..................... 13.638.350 1.766.942 5.910.813 7,031.409 2.517.000 1.325.000
Pittsburgh and West Virgnia ........... 153.815 869.776 1.108,111 524.819 691.4 340491 Spokane International ................ 127,960 120.85 46,413 29,032 39.900 27,30 71,160 71,160
abash ................................. 9.445979 7.160,485 7.537.007 5.203.061 4,896.995 2.882,039 598.186 59.186 Spokan*. Portland nd Seattle ........ 1.719392 1,033,908 O d 6 2 d 129 0 -
IL wisoonsin Central V0.............2.961,642 2,723.2481-i.49 91 1 .28W4155 710,000 500.000 -
Central Eastern Eegion Total ......... 127,146.221 81,226.020n 58s.617.939 20,508.319 50,277.998 23.938.399 19,653,917 12,388,068 v c .. 29723.2481 .gs 1 2.8i. 55 710.00 500.000o-
Akron, Canton & Toungstown ............. 849.53 57.2.2 6.. 41.67 4.9 .. .82953 61 T2 .173 1 136. .274 9.259 4.02.34o 971729.2 96.459.02 .937.3347.272
Baltimore and Ohio ..................... 33465,728 21678,027 16.54.,2 .519.464 8,163.42 1.050,108 Atchison, Topeka and Santa e c/ ... 50,08,000 38,100.554 45.765.787 33.os2.298 29,559,033 23. 26.492 1, o.80210 14,o06.ogo
Bessemr and Lake Erie ................. 6.305.221 5.791.019 5.557.540 .977.045 3819.568 3,144.899 Chicago Burlington & incy. ......... 24208606 23391718 20624,288 20: .1433 811 15.213.683 1 159.631 5125,161 5,125161
Central R.N. Co. of Nv Jersey ** ......d 248120 d 3.0 2/411.230.932 1.921.490 1,800 53 hicago, ock Islannd a Pacific .162 505 15.768.502 1.246487 686975 9358000 18200 4.759.197
Co ntra" a .a Co. o: ::::M: -- a ...... 5 gW 9 1 Ch7ea B e d e P218- a i i .....
Central .. Co. of Pennsylvania ......... 88315 5,912.166 457.3 1.789,86 5,793 6.991 Colorado and Southern ................ 528.105 301,565 237153 6961 386.826 41,962 -
Chicago A Eastern Illinois............. 1,5 ,8 315.537 7259 d 8.776 3860 383.751 Colorado a Wyoming ................... 521.64 292.o 470370 2568s94 194,867 173.900 o 000
Chicago & Illinois Midland ............. 1,650, 48 1, 0.6 1.342.39 S 866,872 520.700 Denvor and sio orande western ........ 9.157296 5,393,0 5.394 951 2 55 1.s36.90 s 5.499 ,329919 -
Chicago, Indianapolis and Louisville .. 1.388.568 21.567 82561 30 4,606 ort north and Dener City......... 1589165 1626211 771.558 0237 617725 641,414
Detroit, Toledo and Ironton ........... 2,527,294 2.218703 2. .322 198, 1.176.923 1,073.0 490,664 490,664 Northwetern Pacific ................. 42021 462 6 424370 278
lgin. Jolit and astrn ................ 5.896,7 4005.02 5.693547 3,695.466 3,816,988 2,1.3 Sacramento Northern .................. d 372,699 9 928 5 d 840.430 ----
llinoi Terminal ...................... 1474.586 1.291,224 6,35 70.51 736100 15.100 270.000 270,000 Southern Pacifi .....................29.196958 2532 3 5 7.976,671 13,221.763 13,409,62 12,261,480 11.318,289
gI sland..1 2........................d 2ot2.. d 2141,J.26 .. S
LonI.llanod ............................ d 2.06.2530 476 d ']42' 25 1 Southern Pacific Transp. System */ ... 39,957,611 3;.: 31 6 26.451.969 18,753.193 19.15224 12,261. 40 11.318.289
r- no ......................568,761, 352000 Toledo, Peoria a Vestern .............42263158 9 3422,789 d 37 19 259.935
Pennsylvania........................... .361631 24. .77 17.59156 7. .7 l.a4.056 5.006.501 13,167.754 6.53.877 UnionPacifie ........................... 30.222.797 25.301,297 ,901490 ,501.4 25,615.146 19.89,590 20.65.549 139 19
Pennsylvania-ading Seashore Line .... 1. 1,6220o d 2.6) 275,726 275,700 Utah ................................. d 102.898 31.338 9 2 d 26.111 4 9 -
eading................................ .1o, o .0512 7.8o.988 6.6 3 .778.154 34.039.332 3,8147,490 3.148,030 Western Pacific ............... 3.99.353 2.693.326 2,689,903 1.961313 14.16514 16)000 2,817,822 2,817,642
Staten Island Rapid Transit ........... d 9-,0 4.1521.,255d-800. d 8-,7-
estern Maryland... .......... .... .91 5: : .2504 4.737 .9538 0 001 2.34 1.78 7 southwestern region Total .......... 80.185.356 64.548.934 52.774.372 35.608.193 34.243.846 20.159.820 8.043.948 3.097.298
Wheeling and Lak erie ................ 6.925.693 3 ,25,739 6.s39q,3 14666.389 4.137.000 2,934.6000 1.31 1413 1,786.017 e n r oa t .........
Beaumont., our Lak a western ...... 1,353,325 1.523,100 1,333.195 1.42911 49495 260,218 -
Southern Distrit Total .............. 177,697,130 139,864,618 132.822,015 99.375,855 83.607,375 63,793,564 51,093,914 49,748.730 Burlington-4ook Island ............... 506,809 147,2033 d 1 0 914 d 704.95 -
International-Great Northerm* ....... 1,683,382 838,755 d 16660 1029203 -
Pocahontas Region Total .............. 72,990.914 67.157.536 60.665.131 60.495.769 38.197,082 35.959.615 35.523,288 37.672.515 Kanas City Southern ................ 7525.515 5.255.550 255742 3.884.3 3.875,000 1,890oo 60.000 630,000
Xansas, Oklahoma & oulf .............. 770,453 752,395 678.346 655.381 601.659 400,744 2.785 265.785
Chesapeake and Ohio ............... 34.942.081 33.153.253 24.083.258 27,824,071 16.493.601 16.412.o66 18,092,442 22,321,393 Louisiana & Arkan.a ................. 2.724.993 1.763591 2,480,858 1,513.878 1,879921 1.231200 150,000 150.000
Norfolk and Western ................. 29.311.063 25,243.307 29,068.151 25.036.996 17.100,000 14.75000 13.098,151 10.988,427 Midland Valley ....................... 1510, 5 186915 34.274 55.77 79098 63826 -
Richmond, rederieksburg and Potomac ... 2,087.930 1,919,957 2.132.787 2.023.176 1.299,841 1349,964 310,032 340.032 Mispourol-aneas-Taa ............... 6603,766 4034028 4.468,388 2.003597 2.908,00 1,353,000
irginian.............................. 6,649,840 6,4119 5,380.935 5.611,526 3.303.64 3.7.585 4.022.663 4,022,663 Missouri Pacific** .................. 19.67.699 15.752.011 9.664.691 5.547.167 5.100,000 1350000
N e Orleans, Tnzs Mexioo** ........ 1.597.989 1,778,630 61.273 d 243j 56 133.755 417,3489
Southern Region Total ................ 104.706,6 72,707.082 72.156,884 38.880,086 45,410,293 27,833.949 15.570.626 12,076.215 Okahom City-Ada-Atoks .............. 100.937 46.627 69214 128 9.506 21,05 -
St. Louis, Brownsville and Mexico** .. 3,611,384 1,807,175 3075,231 1,323,604 1,069,897 322,824 -
Alabama Great Southern ................. 1992.865 1,199.969 2,328.119 1.377.956 1,290.00o 729,000 896,828 784,725 St. Louia F-S ran cisco .............. 8.056.493 6,935.634 4,813.574 3.305.503 3.151.550 2.12.965 3,09.2985
Atlanta Saint Andrews Bay............ 3.; 433 214.541 335.758 210.387 204,976 160,697 30,000 30,000 St. Louis, San Francisco and Texas ... 355.285 21453 317. 21 203,563 239.000 126.000 -
Atlanta and Wet Point ................. 151.597 7.180 186,252 36.665 10.099 18620 9,272 24,636 St. Lous Southwestern ............... 8.507,840 7,568967 7.180,845 5.664.991 5.473.723 3.903.881 1.853.665
Atlantic Coast Line .................... 4.779.726 948.216 6.791.755 .220.08oso 2,650,000 9000.00 2,478051 2,478,156 San Antonio. Uvalde & Gulf" .......... d 592333 d .09 540 d 744 92 d 667.002 -
Central of Georgia .................... 1.442,340 16.77 949.702 4 .004.275 82,9112 124,.42 Teas and nw Orleans ................ 10.760 683 10.61.058 8.597.702 8. 278 5.531,430 5,742,616 -
Chrles.ton etn Caroelina ........... 336,.38 22.66 1.42,413 3532 40,000 15,000 Texas and Pacific .................... 6323232 5.354550 4,907,095 3 765801 3,287812 739000 2.051.513 2,051.513
Cincinnati, New Orleans a Texas Pacific. 6,249.662 4.445.851 4,913,614 3.099.077 3,500.000 2,580.000 1.886,002 1,37.502 T2ea. Me.aa ........................ 276.859 452,832 501.465 349535 320,000 225.00-


B Report of receiver or receivers.
00 Report of trustee or trustees.
d Deficit or othar reverse item.
SIncludes Boaton & Albany, lessor to Nev Tork Central B.R.
Includes net debit of $9,307.226 on account of payment, in June 1948,
of Nov Jersey State taxes, penalties and interest for year 1932 to 1940 inc.


S Formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
c Includes Atchison, Topeka & Santa Fe Ry., Gulf, Colorado & Santa. Fe y., and Panhandle & Santa eS By.
a/ Data not included in totals. Includes Southern Pacific Company, Texae and New Orleans R.R. Co., and leased lines.


U. S. GOVERNMENT PRINTING OFFICE: 194B O- 800103





UNIVERSITY OF FLORIDA c -t 3 V .

111111111111111 111111111111111 11111 111 INTERSTATE COMMERCE COMMISSION
3 1262 08851 3113 BUREAU OP TRANSPORT BIONOMICS AND STATISTICS


Subject to revision


3.


Statement No. M-125
OCTOBER 1948


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of October For the ten months of For the month of October For the ten months of For the month of October For the ten months of

1948 1947 1948 1947 1948 1947 198 1947 1948 1947 1948 1947

1. Net railway operating income...................... ..-..... $110 876 856 $76 879 445 $853 624 670 636 752 694 39 570 54,0 $19 666 366 $285 244 872 (77 565 206 $9 797 326 ( 226 19 ($82 788 240 $75 383 729
2. Other income... ........ ...............17 557 533 16 912 91 175 943 284 160408 911 7 939 976 8073 864 78 277 918 70834054 824 395 729 33 7 184334 7 163143
3. Total income................. ...... ......... 128 434 389 93 792 361 029 567 954 797 141605 47 510 516 27740230 363 522790 248 399260 10 621721 8955 523 89972 574 82 546 872
4. Miscellaneous deductions from income........................--..... 4667 608 3998 301 54 048 896 35 713 402 535437 642 747 16 228938 6 647 118 160 915 517 482 10493 851 4 065 769
5. Income available for fixed charges................... 123 766781 89794 060 975 519 058 761 48 203 46 975079 27097 483 347 293 852 241 752 142 9 017 806 8 438 041 79478723 78 481 103
6. Fixed charges:
6-01. Rent for leased roads and equipment........... 10713916 11144 760 110 068 820 103 014267 7122083 7480700 71143983 71 239 381 13812 13932 147 200 149 406
6-02. Interest deductions ...-... ....... 25 192 301 25 314 725 242 698 148 258 886 887 11 260 946 10 551 117 106 764 327 108 902 904 1 115 594 1 036 728 10752872 10433981
6-03. Other deductions------- 187 043 164692 1 555 070 1510760 65625 61 593 465 564 485526 9 814 2 258 34934 16 824
6-04. Total fixed charges ... ........ .....--- 36 093 260 6 624 177 354 322 038 363 411914 18 448 654 18 093410 178373 874 180627811 1 139220 1 052 91 10935006 10600 211
7. Income after fixed charges........ ............. 87 673 521 53 169 883 621 197 020 398 016289 28 526 425 9 004 073 168 919 978 61124 331 7 878 586 7 385 123 68 543 717 67 880 892
8. Other Deductions......................... ............. 3 187 845 3 134 447 32 150 757 28 324 553 1 420 936 1 335 506 13 764 067 10 542 413
9. Net income.... ....................................................--..... 84 485 676 50 035 436 589 046 263 369 691 736 27 105 489 7 668 567 155 155 911 50 581 918 7 878 586 7 385 123 68 543 717 67 880 892
10. Depreciation (Way and structures and Equipment)....... 32 230 493 29341716 310492290 293 188 865 13 031689 12 047 582 125 529 381 120 328006 2 392 468 2 181 159 22 893 753 21 659035
11. Amortization of defense project1.............. 390 787 1 355 739 14 013 716 13520219 467 114 442 910 4 628 086 4 687 421 69588 98 546 703 709 658 171
12. Federal income taxes........................... .....- 51 354 567 32706 844 373313452 249249 029 1214191 5 644 118 99 656 019 47 257 792 5 390 830 4380576 435587912 40340191
13. Dividend appropriations:
13-01. On common stock........................... 13 092 354 12 551 813 137 945 520 113 559 382 1 005 000 972 000 23 575 082 14 672 127 5 862 822 38 750 00 5 069 14
13-02. On preferred stock..... ...................... 9 923 451 7 915 05 52 134 672 37 033 843 298 913 298 503 8 119 869 7 337 366 392 895 219 904 3 028 975 2 823 105
Ratio of income to fixed charges (Item 5+6-04)... 3.43 2.45 2.75 2.10 2.55 1.50 1.95 1.34 7.92 8.01 7.27 7.40

SOUTHERN REGION WESTERN DISTRICT
MILLIONS NET INCOME-ALL CLASS I RAILWAYS un.LLoIs
OF DOLLARS Of DOLLARS
Income Items For the month of October For the ten months of For the month of October For the ten months of o_00o 1_______
__________ 194 1947 1948 1947 1948 1947 194 1947
1. Net railway operating income-- ...------ ........ $11 083 062 (7 845 487 $115 789 277 $80552 569 50 425 928 $41 141 399 (369 802 281 1303 231190 o00 0--
2. Other income ---.......- ........-............... 1978 396 1727 447 15 795728 16 614 880 6 814 766 6 382 275 74 685 304 65796834
3. Total income........................--....1.------------....--- 13 061 458 9 572 934 131 585005 97 167 449 57 240 694 47 523 674 444 487 585 369 028 024
4. Miscellaneous deductions from income---............... 525332 452 133 5 332991 4 499838 2002 924 2385 939 21 993 116 20500 677
5. Income available for fixed charges............ 12 536 126 9 120 801 126 252 014 92 667 611 55 237 770 45 137 735 422 494469 348 527 347
6. Fixed charges:
6-01. Rent for leased roads and equipment........... 819 485 835 664 8 648 573 8 530573 2 758 536 2 814 464 30 129 064 23094907 40 --- 40
6-02. Interest deductions/ ................ .. 554 396 3 761027 34 575 436 37 675471 9 261 365 9 965 853 90 605 513 101 874 531
6-03. Other deductions..... 25 872 23 555 250284 239 413 85732 77 286 804288 768 997
6-04. Total fixed charges e........................... 4 399 753 4 620 246 43'474 293 46 445 457 12 105 633 12 857 603 121 538865 125 738 435
7. Income after fixed charges....... .... ----- 8136373 4500555 82777721 46222154 43132137 32280 132 300955604 222788912 to- H --- ----- --to
8. Other Deductions ...........---------...-....... 274 571 305 148 2 759035 3146661 1492338 1 493 793 15 627655 14635 479
9. Net income ..--...... ....................... --- ----..... --.................... 7 861 802 4 195 407 80 018 686 43 075 493. 41 639 799 30786 339 285 327 949 208 153 433
10. Depreciation (Way and structures and Equipment)--... 4 208 880 3 907505 41 042 625 38 073 072 12 597 456 11 205 470 121 026 531 113 128 752 0
11. Amortization of defense projects -..-...------------ -211 989 208 716 2 119 188 2170 813 642 096 605 567 6 562 733 6 003 814
12. Federal income taxes............................... 5 396 997 3 095 735 50 807 290 30 929 684 28 424 827 19 586 415 179 262 231 130 721 362
*R0 -A~h ------ -------- .------ --- -t0
13. Dividend appropriations:
15-01. On common stock .... .......... ~.~.... 3 617 432 2967 263 15 531949 13 623 380 2 607 100 8 612 550 60088459 50194561
13-02. On preferred stock--......... ....... 760 223 760 223 4 416 332 2 180 321 8 471 420 6 636 675 36 569496 24 693 051 -40 2 -40
Ratio of income to fixed charges (Item 5+6-04)... 2.85 1.97 2.90 2.00 4.56 3.51 3.4 2.77 1 946J A 0 DJ FMA M 94A S 0 DJ M 14 D.


UNITED STATES UNITED STATES
Seleoted Expenditure and Asset Items Balane d Seleoted Liability Items lan ANALYIS8 OF NET INCOMB--ALL CLAS I RAILUWIS
Balance at the end of October Balanoe at the end of October
1948 1947 __1948 1947
Reports showing Reports showing
17. Expenditures (gross) for additions and betterments-
Ro..17. Expenditures (gross) 76,0156 for addicts ad b- 40. Funded debt maturing within 6 months /-................. 152,053,772 $86,083,904 Period Net Income Nt Defiit
18. Expenditures (gross) for additions and betterments- 6 42 6,70 41. Loans and bills payable ... -..... ......0000 4,495,000 Number Amount Number Amount
Equipment................................................ ................ 20 5 42. T traffic and car-service balances-Cr. ............... 7-4-- .....4....2 ,1 2
19. Investments in stocks, bonds, etc., other than those 43. Audited accounts and wages payable..-...... 06 2 5.M;,12,67 October 1 103 7,4,41 20 4
of affiliated companies (Total, Account 707) .... 7,2 44. OcteMiscellaneousaccounts payable..........6 4 October 1992 31 4
20. Other unadjusted debita......................... 4. Interest atued unpaid ......... .......... ........ 81 10 month 102 21
Dividends matured unpaid..............................~1 10 month91 6 32
21. Cash.....-.-....-- 1,-. Und m a-------------------atu-red interest adccr ....................... ..............7 6
22. Temporary cash investments........................- g. Unmatured dividends declared---..................... ......
23. Special deposits....-----........ ... ............- -.. 49. Accrued accounts payable ............ ...... .
24 Loans and bills receivable- --................---............ .. .... 50. Taxes accrued ............................................ xlue report of ro
25ra and ar-servie balanes-Dr. 151. Other current libilitie9 78 109................... ....... (or olt) abob by the controlling company.
2I. Traffic and car-service balances-Dr .....5..............
. Net balance receivable from agents and conductors... c '(or def i) wa absorbed b the controllin ompan.
27. Miscellaneous accounts receivable-................................. -- .. 1 :3 9g,899
27. Miscellaneous accounts receivable..... .. 74 389g g. 5 Total current liabilities (items 41 to 51) ..... 2,170,395,156 1,944,909,806 Period umber Excluded
28. Materials and supplies..... ........ ....... ............
29. Interest and dividends reeivable...... 72,159 li 53. Analysis of taxes accrue&: October 19484
30. Accrued accounts receivable. ............ 53-01. U. S. Government taxes........ .. .................. 646,69,522 602 Ootober 4
31. Other current assets..... ........... 36 3 ,156,61 53-02. Other than U. S. Government taxes .......... 15.,221, 37, 202,4 10 months 194 4
32. Total current assets (items 21 to 31)................... 3,794,707,507 3,641,730,311 54. Other unadjusted credit...........................................6 236 322 87 0 month 47


d Decrease, deficit, or other reverse item.
V Represents ooruals, including the amount in default.
Excludes Missouri & Arkansas Ry. 0o. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-ter debt in default) whloh beoomes due within six months
after lose of month of report.
y Includes obligations which mature not more than one year after
date of issue.


i








INTERSTATE COMMERCE COMMISSION
BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


SELECTED INCOME ITEMS BY REGIONS AND DISTRICTS, CLASS I STEAM RAILWAYS
FOR THE TEN MONTH ENDED OCTOBER 1948 AND 1947


NIE RAILWAY OPERATING INCOM FED INCOME DIVIDEII T RULWY PUERIT I NET INCOME rE A INICOQ DIVIDE
INCOME TAXES APPROPRIATIONS INOOMB TAE APPBOPRIATICNS
Region and railway Re1gion and railway
1949 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947


United States Total .................. 853,624,670 $636.732.694 |$589,046,263 $369.691,736 $373.313,452 $249,249.029


Eastern matries Tot .


New England Region Total .............
Bangor and Aroostook ................
Boston and Maine .......................
Canadian National Lines in New gland .
Canadian Pacific Lines in Maine ........
Canadian Pacific Lines in Vermont ......
Central Vermont ........................
Maine Central ..........................
New York Connecting ...................
New York, New Haven and Hartford .......
Bntland** ..............................
Great Lakes Region Total .............
Ann Arbor ..............................
Cambria and Indiana ...................
Delaware & Hudson .....................
Delaware, Lackawanna and Western ......
Detroit and Mackinac ..................
Detroit and Toledo Shore Line ..........
Erie .................................
Grand Trunk Western ..................
Lehigh and Hudson Eiver ..............
Lehigh and New England ............. ...
Lehigh Valley .........................
Monongahela ...........................
Montour ...............................
New York Central _/ ...................
New York, Chicago and St. Louis ........
New York, Ontario and Western* ........
New York, Susquebanna and Westerne ....
Pittsburgh and Lake Erie ..............
Pittsburg and Shatmut .................
Pittsburgh and West Virginia ..........
Wabash ................................
Central Eastern Region Total .........
Akron, Canton & Youngstown .............
Baltimore and Ohio ...................
Bessemer and Lake Erie .................
Central R.R. Co. of New Jersey** .......
Central RB.. Co. of Pennsylvania .......
Chicago & Eastern Illinois ...........
Chicago & Illinois Midland ............
Chicago, Indianapolis and Louisvlle ...
Detroit, Toledo and Ironton ............
Begin, Joliet and Eastern .............
Illinois Terminal .....................
Long Ilnd ...........................
Missouri-Illinois .....................
Pennsylvania ..........................
Pennsylvania-Reading Seashore Lines ....
Reading ..............................
Staten Island Rapid Transit ............
Western Maryland. .....................
heelia and Lake a. rie. .


50.581.918


99,656-019


47,23957.92


I 90o.oo.192 1i50,59,2ez5


31.694.951


.1 -1 _1 ... ,


8.424.8181 d 2,752.994


7.178.798


1.507.658


218.423


______ -__ *4 ~ I -4 --- 4 ( J. I


1,748,249
3.316.338
d 1,201,712

d 815,7,1
1,078,as7
4.1,233
d 197.790


72.809.739
663,401
522.566
4.841,481
4,928,209
4F0,046
818,650
11,67,917
44.737
294.179
1.616,11
2,9 4438
961,373
707,959
14.153.195
12,656.029
d 2,01.715
6,650,.913
264,306
1.254,063
8.996.956


73,921,354
766,585
19.001,728
6,.4,o0o
d 11,374272

1.586,568
2,742,828
6,346,401
1,23s,769

26,os 0 89
d 3.051.261
3.993.439
d 838.864
5,38b6,584
7 .7 22.


770.,573
1.422,4s9
d 1.116,698

d 1.138.121


338.795
202,970
3,.584678
2.493,385
271.755
610,856
3.896.747
d 997.375
203.385
1,156,258
d 199.647
1.066908
6,608
204,244
6.342,702
Id 2267,

3.758
596,171
5.978.981


24,276,108
495.615
6,167,225
5,896,911



d 2,221,657
4,2511407
1,028,379
d 2. .711



d 973.099
4.331i,41
r O.2 Oil


1,148,729
2.433.520


68,1876
726,186
2,802,176


466,977
1,304,744


63,E
499.,
d 826,860


36,219,3401 19,014.283


414,040
516,777
3,31,00oo
2,904,796
255,555
505.325
7,o00,603
197.311
1,002,77
d 73,05
438,076
1,305,416
7.306,500

4.055,938
186,185
783,08E
5,830.,19


56,257,881
468.312
098,022
4.135.747
2,00C
6,558
469,100
1,016.497
1,363,715
4,261,205
876,900
5a'looa
20,22 ,701
506,731
5. 42387
3,424,OOC
96 I0


205,095
477.262
2,456,000
649,936
174,902
384.741
1,940,842
10,000
136.294
708,552
d 17,500
--555.020
371.759
802,776
3,483.563
d 13,264

386 417
3.312611


26,735,851
296,021
1,199,208
3.72.601
253
7,691
603,700
4,606o
1,197,990
2,711,249
720,900
409,000
5.038.334
306,333
4.537.055
2,588,910
0 ooo fW


143.550




74,873

:


11,542.700


180.000
422,206
200,000
3,244,907
141,210
1.156,000



2,704,241

2,590,950
305,000
598.186


19,933,828
149,845



383.751

490,664
270,000

13,167.754
4,127,401

1 l I


22.009.493


217.900


143.550




74,350


9,123,614

180,000


200,000
3,244,907
141,210
952,000

457.470
1.622,541

1,727,300

598.186


12,667,979
109,480





490,664
270,000

6.583,877
3,427,941

SiC


g h ................. .33..4-3.:.), d7, ,. w 5. 9*94 ,39# W 3,390 1 9 3 .413 1.7* 7
Southern District total .............. 198,577,517 155,936,298 148,562,403 110,956,385 94,395202 71,269,875 61,727,286 53,696,120
Pocahontas Region Total .............. 82,788,240 75.383.729 68,543.717 67,880,892 43,587,912 40,340,191 41,779,005 37.892.419
chesapeake and OMo .................... 39,801,367 37.159.734 27,155,795 31,123,919 18,833,201 18.393597 24,128,257 22,321,395
Norfolk and Western .................... 33279,625 28,537,028 33,035,537 28,315,375 19.575,000 16,650o,o 13,318,053 11,208,329
Richmond, fredericksbarg and Potomac ... 2,14,279 2,002,070 2,196,08 2,114,413 1,399,841 1,10,964 3 3 340,032
Virginian .............................. 7,565,969 7,684,897 6,15347 6,327,185 3.779.870 3.885.630 4,022,663 4,022,663


Southern Region Total ...............
Alabama Great Southern .................
Atlanta & Saint Andrews B3 ...........
Atlanta and West Point .................
Atlantic Coast Line ....................
Central of Georgia ....................
Charleston A Western Carolina .........
Cincinnati, New Orleans & exas Pacific.


80,018,686
2,486,209
374,426
192,562
6,849,094
1.089,092
143.171,
5.3814,253


43,075,493
1.536,146
237.44
38,72
4,13,845
d 4.376.473
4,20
3,552.042


50,807.290
1,405,000
228,144
120,698
2,650,000
82,942
55.000
3,855, 0ooc


30,929,684
884,000
172,355
20,876
700,000
138,245
10,000
2,965,000


19,948,281
896,828
30,000
98,544
3.301,478

1,896,225


15,803,701
784.725
30,000
49,272
3.301,583

1,447,725


Southern Region Continued
Clinchield..........................
Columbus and Greenville .............
Florida East Coast** ...............
Georgia R.R. Lessee Organiation...
Oeorgia & forida* ...................
Georgia Southern and Florida .........
Gulf, Mobile and Ohio ...............
Illinois Central ....................
Louisville and Nashville ............
Mississippi Central .................
Nashville, Chattanooga & St. Louis ..
Now Orleans and Northeastern ........
Norfolk Southern ....................
Seaboard Air Line ................
Southern ............................
Tennessee Central ............. ....
Western Bi. of Alabama ...............


$5.848.948
129,639
1,402,886
1,082,667
d 5911

7.779.773
24,439,052
17,601,006
263,325
2,326,668
2,238.248
810,610
11,412,690
24,007,098
67.386
377.398


$5602,585
d 96.980
529,442
d 140.32

5.799.971
20,488,41-
12.593,166
134.357
1.405.585
1,557.011
323,.461
7,243,340
16, 90,442
d 120 816
,a t


*141,902
d 2.194.410
d 757.210
139 ,07F
5.299,525
17,101,495
15,326,937
219.331
1,354,620
2,033.791
603,011
,8728,539
15,280,204
d 13M093
3WO.1b3


d 84,290

d 796.65
3.628,63
12:704,38
10.029,742

473.084
1.347.319
15,137
5,284,126
8.5,76g
d 3101.7
181 499


541.9594
33,352


107,ooo
3,247,000
10,888,000
9,449.750
132,548
939.277
1, 35,ooo
14,
4,10 ,000
d 3.208


$541,851
1.153


84,ooo
1,515.269
8,188,000
6,496,754
31,396
259,762
1.055,000
1,605,000
6,265,000
a 118 102
41S


*17.238



1,417,191
1,118,718
8,236,800
767,947
132.762
750,000
1,074,550
210.000


$708,596
8,236,800



375,000
750,000
120,000


Western District Total ............. 369,802,281 303,231,190 285,327,949 208,153,433 179,262,231 130,721,362 96.657,955 74.887,612
Northwestern Region Total ......... 88,895,491 75.734,020 5,874,371 49,241,985 27,130,907 20,410,8 19,176.669 22.12,911
Chicago and North Western ............ 8,579,51 6,688,555 5,843.512 3,942,460 2,930,000 1,245,000 2,286,318
Chicago Great Western ................ 3.08,809 1.757.505 2,507,341 1,083,589 1.379.o000 oo 28 82-
Chicago,m .wakee,St.Paul and Pacific. 13,536,184 13,106,305 7,570.318 7.314,737 3.943,000 4,486,960 2.804,350
Chicago, Saint Pal,Minneapolis & 1,275,472 988,859 a 632276 d -
Daluth, Missabe and Iron Range ....... 10,411,295 9,673,992 i,0935 93323 6,894,765 5,514,347 8,225,000
Doluth, South Store and Atlantic* ... 652,118 23,89 7 4 9 -
Doluth, Winnipeg and Pacific ...2.... 3 ,191 12,Fi6 5.I -
Great Northern ...................... 24,4009 20,081,257 4,580,124 6,368,998 10,823,927 9,277647
Green Bay and Western .............. 189726 92,993 192,648 92,590 152,651 25 125,000 125,000
Lake Superior & Ishpeming ............ 795377 92566 826747 932715 506800 52400 21,200 160,650
Minneapolis & St. Louis .............. 1,561,747 1,519,81 1,5 116,750 1,557,66 61067 951,901 450,000 750,000
Minneapolis, St. Paul & S.S. Marie ... 2,327,202 1,662,1 1,796959 1,007,260 985,000 600, 719,104 719,104
Northern Pacific ..................... 16,732,682 14,309,990 7,617,000 8,750.370 3,945,000 2,225,000
Spokane International ................ 150,490 153,0 61,781 51.124 58,500 27,330 71,160 71.160
Spokane, Portland and Seattle ........ 1,823,155 1,197,250 d 47.365 1.399.492-
Wisconsin Central /** ............... 3,278,783 2,969,735 8,2 1,364,104 895,000 55,000 -
Central Western Region Total ....... 189,741,983 155,789,875 166,231,289 119,856,359 112,488,428 87,509,638 69,437,338 48898,566
AtChison, Topk and Santa e .. 57,539 5 439344 52.716,269 37,863.515 33.772.907 2957.492 18,880,210 14,026,090
Chicago Burlington & Qainq ......... 27,4 7 2, ,249 23,560,56 23,192,923 17.392.552 4,904031 5.15,161 5125,161
Chicago, Bock Island and Pacific ..... 17,79,185 17,602,45 15,4,13 7,659,249 o10, oo0 4,695000 4,759,197
Colorado and Southern ............... 45,50 396,830 427 4 186,8 151 301,592-
Colorado Wyoing ...................332774 505671 297,9 216,467 198,700 110,
Denver and Rio Gradne Westernter .. 1074,622 6,629,91 6,314,868 3.337,475 2,396,900 1,149,299 2,329,919 1,626565
Port Worth and enver City ........... 1,835,557 1.75906 929,600 834,0 675,54 674,794 -
Northwestern Pacific ................. 512,106 ,7 5,249 234,- -
Sacramento northern ................... 3 52 326.166 -
Southern Pacific .....................8 2,518 4 9 15,083,141 15063,10 1226 11.318.289
Southern Pacific Transp. System e ... ,081,897 38,398,519 3,582, 29,582,193 21,422,55 21,421,514 12,261,180 11,318,289
Toledo, Peoria & Western ............. 558,489 514,200 d 2 327,14 2,500,
Union Pacific ........................ 35.871 56.59014 329,763.528 22.999.590 20,653.49 13,984.819
Utah .......................... ......... d 117653 17341 238888 37 --
Western Pacific ...................... 3,498,035 5 955 2,063.144 566,000 2,817,82 28176


Southwestern Region Total .........
Beaumont, Sour Lake a Western** ......
Burlington-Rock Island ...............
International-Great Northern** .......
Kansas 0ty Southern ................
Kansas, Oklahoma & OGul .............
Louisiana & Arkansas ................
Midland Valley ......................
issourt-Kansas-Texas ................
iMLsouri Pacific** ...................
New Orleans, Texas & M xico* ........
Oklahoma City-Ad-Atoka .............
St. Louis, Bromsville and Mexico ..
St. Louie-San raencsco .............
St. Louis, San rancisco and Texas ..
St. Louis Southestern...............
San Antonio, valde Gulf** ........
Tezs and New Orleans ...............
Texas and Pacific....................
Texas Mexican ......................


91,165,707 71,707,295


1,466,9~c
531,4-6
2,009,799
8.515,908
897,247
3,.0,104
177,710
7,557,170
22,36,207
1,687,914
113,788
3,902,660
9,07.,269
461,127
9,796,253

7.132,2 2
291.~7


1,660.420
136,551
918,803
6,ar3,487
807,671
1,981,831
10,366
4,363.993
17,542,639
1.953.843
307
1,904,865
7,971.068
232,531
8,163.416
1 5do352
5.973.559


60,222,289

1,445.301
d b7.951

794,914
272,671
41.64

d "M93,:1

3,301,052
5.855,834
3530,o39
s,30o,778
d 815.502
9.764740
5.567.06
565.536


39,055,089
1.571361
d 890945



58,649
2,105,817
6,032,066
d 293.580
4:705
1,365,712
3,705,285
190,812
5.985,687


4122i'26
401,732


396,42,8961 22,800,880


543,495

4,425,000
698,841
2,0901.421
91,746
3.313.329
6,000,000
133.755
109,030
1.103,897
3.,967,14
210,926
6,439,0o6
6.339,404
3,796,812
350,000


260,218

2,165,000
425,347
1,375,200
69.546
1,410,000
1.350,000
20, 06
322,824
2,527,665
127,000
4,684,153
6,358,374
1,008,000
250,000


8,043,9489



630,000
265,785
150,000





3,092.985
1.853.665

2,051,513


3,856,135



630,000
265.785
225,000









2.735,350


S Report of receiver or receivers.
Report of trustee or trustees.
d Deficit or other reverse item.
/ Includes Boston & Albany, lessor to New York Central R.R.


b Formerly included in report of Minneapolis, St. Paul & Saint Ste. Marie.
SIncludes Atchison, Topeka & Santa Fe By., Gulf, Colorado & Santa 7e By., and Panhandle & Santa 7e by.
a Data not included in totals. Includes Southern Pacific Company, Texas and New Orleans R.R. Co., and leased lines.

U. S. GOVERNMENT PRINTING OFFICE :1949 O 800193


28..244.872


177.565.206


19.168.134


9.638.117


2,192,665
6,467.773
d 1.036.217
115,5S8
a 1.037.542
b52.427
2,005.040
634,048
9,086,566
87,786


1,185.150
4,723,580
d 946.967


1,660,337
130.337
4,221,709
d 511.058


Page


r I r t I I


116,442,663
824,600
526,639
6,237,816
9,178,597
496.955
895,319
16,709,335
4,542,877
269.352
1,728.127
7,717,430
1,309,423
710,0o4
30,406,843
13.879.751
d 2945
8.294,726
1375.41o
1.635.754
11.1214.276


76,167,397
510.330
5,007,402
6,710,435
358,321
689,349
8,934,338
2,833,205
184,336
1,259,411
4,216,724
1,447,184
624,742
19,907,725
8,061,871

6,2036E
535.814
978,414
8.141.176


1 .. ... .. .. I.


149.634.075
955.841
41.
.d 2.661M8
1.190,4
1,926,899
2,988,8144
6,573,111
1,697,876
d 2, 64203

58.505,839
d 2 268.428
S 4127T452
-775L58
*7 ti *S77


91.759.692
676,495
24.276,315
6,39,805
d .625.5

1,257,812
24,230
2,486,917
4.587.301
1,495,049

27,396,411
d 1,577 118
10,062,012
d 071
r llI.ItK


11,789,277
2,171,930
393,390
159,175
4,n.7,417
1,619,607
359.255
6,862,555


80.552.569
1,384,481
245,164
7.384
1,198,272

l5,52,93
5,o52,939


-t- i


......... ..


-I


-I


-I


, _


I


of


I


!UL


IL


al


.4


155.155.911


:q


-1


2





T: 1 ^s^ 3 Al;


9g?/,gl


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

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

UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of November For the eleven months of Por the month of November For the eleven months of For the month of November For the eleven months of
1948 1947 1948 1947 1948 1947 1948- 1947 1948 1947 1948 1947

1. Net railway operating income... ..............-.....- 84065 713 $65 954 486 (937 690 383 703 911 817 28 246 601 $19 465 862 $313 491 474 $198 255 705 $6 981 636 $7 144 826 689 769 876 $82 528 555
2. Other income........ ....... ............. 20450484 19730898 196 393 771 182448 310 10 768692 8 695 165 89 046 612 81 837 720 945995 891236 8 128 27 8054 79
3. Total income.................----.--------------- 104 516 197 85 685 3841134 084154 886 360127 39 015293 28 161 027 402538086 280093425 7 925629 8 036 062 97 898 203 90582934
4. Miscellaneous deductions from income............-- 4 867 888 3340 164 58 916787 39053568 710 053 542 385 16 938 993 7 189504 1 597 775 468 242 12 091 626 4 534 011
5. Income available for fixed charges............... 99 648 309 82 345 2201075 167 367 847 306 55 38 305 240 27 618 642 385 599 093 272 903921 6 327 854 7 567 820 85 806 577 86 048 923
6. Fixed charges:
6-01. Rent for leased roads and equipment.....-.... 10466251 9271 772 120 535 073 112286 039 7 106 942 6983 860 78250925 78 223 241 14 767 13 036 161 967 162 442
6-02. Interest deductions I............. 24 205 699 25 316 455 266903 846 284 20 344 10 570965 10504 388 117 335293 119407293 1 135 581 1042 041 11888453 11 476 022
6-03. Other deductions -.....- ........... -......... 221 504 165 198 1 776 575 1 675 958 72 566 59 883 538 131 545 409 5 433 1 463 38 367 18 287
6-04. Total fixed charges ............... -3 54 893 454 34753 425 389215494 398 165 341 17 750 473 17 548 131 196 124 349 198 175 943 115 781 1 056 540 12 088 787 11 656 751
7. Income after fixed charges ...... -.. --------- 64 754 855 47 591795 685951873 449141218 20 554 767 10070511 189474744 74727978 5 174 073 6 511 280 73717790 74 392172
8. Other Deductirons .........2 994 505 3098 094 35 145262 31422 647 1363 180 1 376 615 15 127 247 11919 228 --
9. Net ncome............ .....------- 61760 350 44 493 701 650 806611 417718 571 19.191 587 8 693 696 174 347 497 62808 750 5 174 073 6 511 280 73717790 74 392 172
y H6L in Co lBS..-.-..- -.------- ...---... ...-.-- .-- .... ...- -.---. --.-.-.-----.- ,
10. Depreciation (Way and structures and Equipment) 532 276 606 29 916 498 342 768 896 323 105 363 13 045 835 12127 578 138 575 216 132455 584 2 422 604 2 183 369 25 316 357 23 842 404
11. Amohrtzation of defense projects ....---- ------_--- 1 396566 1267 324 15 410283 14787544 473 474 451 109 5 101 560 5138531 86813 82 04 790522 740475
12. Federal income taxes............. .................... 41 338 248 24 558 625 414 651700 273 452 193 11 371 853 5 186 338 111 027 872 52088 669 4 289 638 3 895 229 47 877 550 44 235 420
13. Dividend appropriations:
13 -01. On common stock ......................... 52961970 47650110 190907490 161209 492 20666 156 9 712 961 44 241 238 24 385 088 10627169 16 482 491 49377199 51551805
13-02. On preferred stock--................................... 6 853 158 8 620 008 58 987 830 45 653 851 2 838 977 2 202 494 10 958 846 9 539 860 173 048 3 028 975 2 996 153
Ratio of income to fixed charges (Item 5-6-04).. 2.86 2.37 2.76 2.13 2.16 1.57 1.97 1.38 5.48 7.16 7.10 7.38

__SOUTHERN REGION _WESTERN DISTRICT __LIO S NET INCOME-ALL CLASS I RAILWAYS ,,wiLLo
OF DOLLARS OF DOLLAR!
Income Items For the month of November For the eleven months of For the month of November For the eleven months of 100 too10O
1948 1947 1948 1947 1948 1947 1948 1947
1. Net railway operating income....... 510 817 491 88 364 220 $126 606 768 $88 916 789 $38 019 985 130 979 578 $407 622 265 334 210 768 o o
2. Other income-.............. ------ 1 253 298 1 058 547 17 049 026 17 673 427 7 484 501 9 085 950 82 169 806 74 882 784
3. Total income ... .......... ..-.... ..---- 12070789 9422767 143655794 106 590 216 45504486 40065 528 489 992071 409093552
4. Miscellaneous deductions from income .. ... 570 272 478 040 5 903 263 4 977 878 1 989 788 1 851 497 23 982 905 22 352 175
5. Income available for fixed charges .......... 11500517 8944727 137752531 101612338 43 514 698 38214031 466 009166 386 741 377
6. Fixed charges:AA A--- 40
6-01. Rent for leased roads and equipment-.. 793 886 838582 9442459 9369155 2550656 1436294 32679722 24531201 40 ------ -40
6-02. Interest deductions / ... 3 529 874 3745951 38105 310 41421422 8 969279 10024 075 99 574790 111 898 607
6-03. Other deductions ..... ....... ........27 761 25 939 278 045 265 352 117 744 77 513 922 032 846 910
6-04. Total fixed charges........... 4 351 521 4 610 472 47 825 814 51 055 929 11637 67 11 538 262 133 176 544 137 276 718
7. Income after fixed charges.................. 7 148 996 4334 255 89926 717 50556 409 31 877 019 26 675 749 332 632 622 249 464 659 ---
S2 c69 206 308 889 3 028 241 3 455 550 1 362 119 1 412 390 16 989 774 16 047 869
8. Other Deductions.......... ..... 6 879 790 4 025 366 86 898 476 47 100 859 30 514 900 25 263 359 315 842 848 233 416 790
9. Net income...........-. -............ --- --. ----- --- -. ..... ------. -- .
10. Depreciation (Way and structures and Equipment).... 4 221 274 3 951 55 45 263 899 42 024 407 12 586 893 11 654 216 133 613 424 124 782 968
Amortltion of defense projects- .. --- 211 791 212 000 2 330 979 2 382 813 624 488 521 911 7 187 222 6 525 725
12. Federal income taxes ....................... --- --------- 4162771 3066 288 54 970 061 33 995972 21513 986 12410770 200776 217 143 132 132 -
13 Dividend appropriations 2499 407 1 815 300 18 031 356 15 438 680 19 169 238 19 639 358 79 257 697 69 833 915
1-02. On preferred stock ...................................- 280 650 588 043 4 696 982 2 768 364 3 733 531 5 656 423 40 303 027 30 349 474 -40 I -40
JFMAMJ J ASONDJF MAMJ J A0ND J F MA M J JA
Ratio of income to fixed charges (Item 5+6-04).... 2.64 1.94 2.88 1.99 3.74 3.31 3.50 2.82 1946 1947 1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items lance at te elected Liabllit' It. items ANlance dALYSIB OF NET INCOME-ALL CLASS I RAILWAYS
Balance at the end of November Balance at the end of November
194a8 194'7 1948 1947
Reports showing Reports showing
17. Expenditures (gross) for additions and betterments- 06 2 40. Funded debt maturing within 6 months V/................... 6$156.565,758 $121,944,783 Period Net Inoome Net Deficit
Roa ---------------------------- -------------------------------- --- $ 07 73 ,14 80 22
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable j.......................-- .......... 3 52- 1'4,75,000 Number Amount Mumber Amount
Equipment......-.-......-...-...--.....-..-..-...-.-.-.....-.................................... 808053,373 492,434,426 42. Traffic and car-service balances-Cr..----.-----.........-. 101,183,613 1948 103 t687,0535373 .992,.3.,l26 l-3 1 ;109,870, 86 N3
Equipment.....808,0,37 92,4 42. Traffic and car-service balances-Cr... 101.........................., 1948 ~
19. Investments in stocks, bonds, etc., other than those 43. Audited accounts and wages payable-..-...-................. 607,458,31 1 Novb 1 98 252
of affiliated companies (Total, Account 707)..... 522708801 Miscellaneous accounts payable.................... 1.................... 1103 6 2993 2049695
20. Other unadjusted debits... ..................................................... 1 2,366,03 197 ,705Intrest atured unpaid ......... ................... ....812 11 month 59 31
Dividends matured unpaid.....----.........---............ 1 3 08 12:06m2i
21. Cash4... -- .0 21 .7. Unmatured interest accrued...... .........-..........--........6--4
22. Temporary cash investments.-- .- --......-...- 1-05,0 :,536 1,00?0,o -g. Unmatured dividends declared-.. ..--........... .......6 7...9 12, '. --1
23. Special deposits................................ ...........3,87078 accounts payable 49. Accrued accounts yable........................... 0,7 61,16,22
. Loans and bills receivable -- ....................----- 11,2 1 50 Taxes accrued ................................ ...................... report. of roads whose net come
2:. Traffic and car-service balances--Dr..-.. 57 10 51. Other current liabil-ties 5 783:855 995:6,839 (or deficit) was absorbed by the controlling company.
2 Net balance receivable from agents and conductors.. 150,967,062 1 66 Other current liabilities ................................... ---...........
27. Miscellaneous accounts receivable --- _----- 36114168 2,9310 52.,___Total current liabilities (items 41 to g9).. --- 2,221,530,354 2,035,613,357 Period Number Exoluded
i8. Materials and supplies ...1---- .-........... .. -44,191,16 ,9
29. Interest and dividends receivable ..... ....22.708,110 20 174 33,033 53. Analysis of taxes accrued: November 1948 4
30. Accrued accounts receivable. ........... 1 218 960,9,00 55-01. U. S. Government taxes....................---................- 6 -,764,6 98,067,283 ov r 147
31. Other current assets .. 2 8 53-02. Other than U. S. Government taxes.............38126,1 123,719,53 11 month 19484
2- Total current assets (items 21 to 31)................. 3,821,209,738 3,662,34,147 54. Other unadjusted credits.................................. 02,723,52 39,781,870 11 147
3g. ___ T tal cur ent ass ts ite s 2 to3D -- ....3,8 1,29,73 3.6 2. f*,~l ^ ^^^ ^^^ ^^^ ^^^ ^^^ ^^^ ^^^ ^^^ ^^^ _________^_____ _______ 11____o_______1___,7____,


d Decrease, deficit, or other reverse item.
/ Represents accruals, including the amount In default.
Excludes Missouri & Arkansas .Ry. Co. Road not in operation.


/ Includes payments of principal of long-term debt (other than
lon-tem debt in default) whioh become due within six months
after olo. of month of report.
/ Includes obligations which nature not more than one year after
date of isLue.


Subject to revision


UNIVERSITY OF FLORIDA

I1IIIIIIII111111 11111 III I IIIU II111 11 111111 11
3 1262 08851 296 INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISICS


Statement No. M-125
NOVEMBER 1948







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 1948 AND 1949


Page 2


SB ti apMA eli ZING m IW cIY DRB L A t COM DIVIDED m BSAILW~L A OPERAINGM IwPCOg F ISDE INCOME DIVIDED
INooMI TA APPRaPEITIB aia Mo TAlS8 APPROPRIATIONS
egion and railwag R region and railway
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1917 1948 1947 1948 1947

United States Total ................. $937690.383 $703,911.817 $650,806,611 417,718,571 $414,651,700 $273,452.193 $249,895320 $206,863,343 Southern Region- Continued
sten mDtriot Total .............. 313.491,474 198,255.705 174,347,497 62,808,750 111.027,872 52,088,669 55,200,084 33,924.948 Clinchfield .......................... $6,411,658 $6,142,374 $596,170 $596,044
Columius and Greenville .............. 130,i426d 8 $143,94 34,852 1,153 $17,238
S lan Region Total ............ 21,227,591 10,516,276 9,720,826 2 5.914 8.,411 711 1,90,039 266,273 217,900 norida ast Coast,** ........... 1 290371304 -
Georgia R.R. Lessee Organization ... 1,186,18 601 8 ------
anar and Aroostook .................. 2,517,13 1,393,638 2,029,776 96,18 1387,69 568,437 191,400 143,550 Georgia a forida ................... d 128. a 1 261 9046 -
Boston Maine ...................... 7.277.6 5289, 3.2,071 1,6668 2788, 1,486,32 Georgia Southern and Florida ......... 1 95- 1 9 97.000 ,000
Canadian national Lines in ow gland. 1.1 3 1. 32.779a 1.239,591 a---ulf, Mobile and Ohio ............ 8471588 6,23516 553,500 3,85,05 3525000 1, 269417.191596
Cana Pacific Lines in Main ....... 93 1 1- llinois Central .................... 26,64978 21,799,445 18,617,810 13 .387 ,58,000 8,561,000 1,11,71
Canadian Pactifc Lines in Vermont...... 1220.9 Loisville and Nashville .............19,670,849 14,00,317 17,122,690 .2,507 10,575,825 7,33,182 8,236o,00 8,236,800
central Vermont ......................... ,50 1234741 74,887 69.953 Mississippi Central ................ 295,990 45249182 49541 150,712 32,856
Maine ntral ............. ...... ...... 2. 7 161576 3 2 882,935 578,881 74873 74,350 Nashville, Chattanooga & St. Loui ... 2,5,271 16666 558,336 5731,064,712 315,992 767.947
e Took Connecting ....... ....... 7097, ,142.872 9 21.50 New Orleans and northeastern ......... 2,7,152 1,73,662 2,225,222 1, 1,570,000 1,20,000
STork, ev Haven and Hartford ...... 9,972.8 4396283 4,96714 3277,776 798.560 Norfolk Southern ................... 871,976 630,993 713,227 276,696 602653 237 211,769 -
atlanao**e ............................. 6581992 eaboar ir ne .................... 12,27:694 7,852,873 9,317,867 5,635,295 4,753.000 6750,000 750,000
Southern ........................... 26,247,529 19,039,277 16,573,777 9,97,874 11,360,000 7,405,000 1,074,550 750,000
Great Lakes Region Total ............ 128.580.713 85,180,855 80,605,708 33,776,870 40.136.071 1,278,093 20.274.451 15.523.135 Tennessee Central ..................... 42917 d 158.218 d 182.18 6 9 34.08 d 13.8 -
AWe-tr--r----. 9a9K- -- western By. of Alabama ............... 495147.77 --210000 120.000
Ann Arbor ............................. 857,909 58, 682,862 370,322 426,134 224,429 -
Cambria and Indiana ................... 59286 588,067 237,871 579,663 527815 180,000 330000 Western District Total ............. 407822,265 334.210,768 315,42,848 233,416,790 200,776,217 143,132,132 119,560,724 100,183.393
Delaware and Hudson ................... 6,79768 5,477,16 5,266,947 3,918,438 3301,000 2,670,000 -
Delavare, Lackawanna and Western ...... 10,236T,0 745 ,525 5,530,751 2,0s,4 3,255,296 756,168 422,206
Detroit and Macnao .................. 507.899 368,268 424,855 272,887 256,595 178,957 ortnestern Region Total ......... 97,976,819 84,041,099 65.513.766 57.895.043 31177,050 22,617,472 19,476,669 24.419,229
Detroit and Toledo Shore Line ......... 979,984 765,704 895,799 4 679,748 552,607 428,007 220,000 220,000-
tr9e .................................. 1,599,633 10,649602 13,083,9 5,050,782 7,883,450 2,124,027 5.700,680 4,472,794 Chicago and North Western ........... 9,40,647 7,300,343 6,786,964 4,5.421 3,37O5000 1,620,000 2,286.318 2,286.318
4,s.o.i.g 3080.10 d U2012%5 7
rand Trank eastern ................... 4,850,128 3 339267 10,000 Chicago great Western ............. 354,558 2,082,420 2,702,797 1,343,919 1.44000 2 -
Lehigh and Hudson iver ...............142 207,366 326,481 228,03 221,212 153,406 141,210 141,210 Chicago,lllvavkee.St.Paml and Pacific. 14.660,152 14,4,92 8,107,261 8,095.355 4,329,0000 4,486,960 2,804,350
Lehigh and New England ................ 1,936271 1,418,46 1,812,107 1,304,690 1,123,702 799,527 1.156000 952,000 Chicago.Saint Paul,Minneapolisa Omah 1, 495705 1,095,54 6i 4 d 104803 -
Lehigh alley ......................... 8896,524 ,29653 367051 Duluth, Misabe an Iron ange ....... 1,02,325 9710,6 9334 3 7.30,865 5.567400 8,225,000
Monongahala ........................... 1,418,647 1,576,126 1,036,659 1170080309 6,310 499,600 Duluth, South Shore and Atlantic* ... 68o,100 476,57 a 2 82 -
MontoUr .. .................... 762,075 7 49 ,193 690s 470,090 418,4 65,470 Duluth, Winnipeg and Pacific ......... 128,210 177,74 d---
New York Central / ................... 33,5,200 22,2146 15480,495 4561 1,254,825 930491 great northern ....................... 27,029,210 22,625,761 23602876 5,905124 7.118,498 10823,927 9277647
rk, Chicago ..... 15,290,T4319: 0,349 9 ,1616 9 1.25..825 940, 91 ...................... 9 .0 O 194:12
ew Tork, Chicao and St. Louis ....... 15,280,743 9,126349 1126,597 7, 66 8,414,000 3,975,063 3,245090 2,163389 Green Bay and Western ................ 29,227 186,070 286456 173000 211,194 1,2125,000 125,000
New York, Ontario and Western** ....... d 8. 50 d 2 7 8 a 46 Lake Superior & Ishpening ............ 878,806 997427 23 1, 692 506800 52,400 214,200 160650
bev York asquehanna an etern .......- 94 7 6b d d 13.964 Minneapolis & St. Louis.............. 1,977,277 1,712,738 1,924 4 1750,6o1 1,103567 1,9,901 750,000 750,000
Pittsurh and Lake Erie ...........2 6 9 7226 4,410,17 3318964 6,909,200 5.181.900 Mnneapolis, St. Pal S.S. are .. 2,538.700 2,029,251 1,49007 1.327.005 985,000 705,000 719.104 719.104
241 7 31.............. e s.. .... 3,11:70 2:T96:2 1.949, 1.3T05 91.
Pittsburg and Shant ................. 36,518 552 26,6 75 186,1 Northern Pacific ..................... 18,658.179 1614666391 9782746 4845000 2,760,000 -
Pittsburgh and West Virginia ... .. 1.79 553 1,4,281 1.3 2 664, 872735 426,061 305000 Spokane International ................ 192.555 186,7 97,484 74.797 58.500 32.330 71,160 71,160
Wabash ................................ 12.156,157 9,091.391 9.80.423 6,706,588 6.391,165 3.702,698 1.95,465 1.196.372 Spokane, Portland and Seattle ........ 2,019,583 16853 .6 1 6 -
Wisconsin Central b __,2255 3,20535,
Central asten Region Total ........ 163.683.170 102.558.574 84,020,963 31.917.794 62,480,090 28.905.537 34.659.360 1183.913 W9 io n central .............. 585 3,209,2,960 1 1.075.1005353.O
Central Western Region Total........209,074p714 71 169,819,168 183,622,336 131,368,034 124,748,346 95,430,634 90,901,297 71,642,244
Akron, Canton & oungston ............ 1,036,213 757.672 830842 .85 507620 332955 149.45 109,40 entral etern n Total 20974774 168 183.622.336 131.3 124.74.36 953063 909 297 7 .2
Balt r nd Ohio .................... .40, 129T72 26,357,77 2110o3.10 5.57,08 507,62072 332,955 11498. 1
altimor and .................... 2110340 48,000 10,16,622 1,771,808 588632 Atchison, Topeka and Santa e / ..... 63,62938 47,881,583 58,175,986 41,62,703 37,321,907 30,117.492 25,625,120 20771000
essemer and Lake arie ................ 7,4,18 7,560 ,2 6,7 9 6,638,826 4,610,816 1 4.180,625 5,000,000 C ago, urlington & ~An ......... 30,640,07 2,677,869 26326457 2503,09 19336752 16069,331 5125,161 5,125,161
Central R.R. Co. oft Nw Jersey* ...... 3,0787 1 2,79 653 Cco, Rook Island and Pacific .... 19,761,115 19,031,385 17,559,376 8,105,876 11,56000 5, 000 4759,197 -
Central R.R. Co. of Penneylvania ...... 9 87 7,92 89 7,323 8391 1,0 Colorado and Southern ................ 672626 55952 525328 195,6 481: 41 3 99
Chicago a astern Illinois ............ 1,991,270 19,493 971.899 542.30 383751 Colordo & o g.................. 599952 3 337 339413 247967 22400 110, -
Chicago Illinois Miland ............ 2,16,919 1,3500 1,788,731 1.119.133 1,140, 692,000 Dener and Rio Grande eastern ........ 11338,80 7,42,92 6,8 3,13i8 2,686,300 1,28299 2,329,919 1,626,565
Chicago, Indianapolis and Lislle .. 1,7,261 270,883 848,759 2 4,606 ort north and Denver it ........... 2,135778 1877,079 1, 96 872988 780,32 712151
Detroit, Toledo and Ironton ........... 3.170 2.715,6 3.131.812 .1,58,069 1.27797 490,664 1,226,660 Borthwestern Pacific ............... 531604 41839 067 235,440 -
Mlin. Joliet and stern .......... 7306,716 5,015,692 757586 4,653.130 4,706,071 2,983,178 5.157,000 2.865,000 Sacranento Northern ............... a .55 a352.74 d10 86855 -
Illinois Terminal ..................... 1,866,77 1652.91 1,3,268 1.139.902 982,300 84,6 270,000 270,000 Southern Pacifi ..................... 452295. 7 16.724,565 15,182.772 16.977.434 15091.052
Long Island ........................... d 48 d 1. 2. Southern Pacific Tranap. System .. ,081 37,52537 30.779536 24,046,021 22,093,952 16,977,434 15,091,052
Missouri-llinois ...................... 93s os0 61.000 459,000 Toledo. Peoria & Western ............ 635,. 82 57.3 371428 2.50 oo000 -
Pennsymlvania .......................... 65,50,335 32,158,919 29 ,51 0 08 22235,52 4,618,522 13,167,754 6,538 Union Pacific.................... 39919,269 382oU 622561M96 3851910 5,299,590 30,656,644 26,21a0,
Pennlvani eading Seahore Idnes ... d 2. 796..2 41 677 685832I 3 7 14 337,0 25ifi,291 t ah............................. 3 15, 302 0 o -

oReadng........... .. ............. .. 8913 6 82, .555 73717.790 74.39.1,2 ,1 7.43 4,50,025 4 4o 5247107.174 54.547.58 aWestern Pacifi .................................4100,.565 57 1 3 3 2. 490074400 947.000 2,817,8223 9 6
Statn Island Rapid Transit ................ .. .. .5..... .... as ,.. ... ,9, 2... ...7 -: 0
Western Maryland...................... 3::867,000 2,889,910 121940 1,241.940 Southwestern aen Tota. ..........100,770,67 2 80,350,501 66706,746 44153713 44,850,821 25,084,026 9,182,758 14,1219920

Wheeling and Lake Urics .... 51:914,,904 3467:207 76e51s, 507200 37. 21, 346,000 3 567 210 39, 309
Resonnt, Sour Lake & Weestern5: ...... 1,522,173 1,792,220,17 498 1,686,16 5915495 306,1g
Southern Distrn Total ............. 126 761 8 14 85.317494 6, 76 ,1O493,31 9 102,847,61 78995231,392 27285,1 38 7,75,04 rlgoa ook Island ............... 611,37 15,8 97 1688302 ,18 -


A a ent soth ....... 6 1 6 atioal-reat North rn ....... .. 2308,1 ,7 9 ,99 00 2 -
ent & nt r ........... 279.1 13.5 -ansaa, klahoma & G lfo. ....... ...... 3 898,112 903.364 .9,J 790621, 1473,9000 53 570
Chesapeake and Ohio ................... 4355 40,14, 312 20 3 7 20394.,801 19 :8951496 .128,257 28.349,765 Louisiana & Arkansas .................3292144,4937 956,750 180047 2,251921 1,520,200 225,000 225,000
Norfolk and Westeri................... 35,993,5143 31,731 2 ,357 9 3195I7S24250,000 23,1631 4j4 21,05371 Midland Valley........................206,0141 230,270 51,9385,723 16,289,40- -
Richmond, redericksburg and Potomac .. 2,175,96 2,011 9 252, 144 1 ,1 ,9640032 suri-Kansa-Texas........... ,403,741 14,755,50 :519 223,6329 1,562,000 -
irginian.8049,381 8298,52 6r73455 6,02,301 4,711,908 4,145960 4,8,14 1414,4 Mi aori Pacific ............ 2463,94 19,416,502 11794,g 7 6,579,969 7,000,000o ,9350000 -
SoulthernR ion,,-Tota rl..N.............12,6078 .8ew Orleans, Texas & Mexio ...........1,95797 2,280,7 1" 2 1 ,316 -.
southern rion 8,Total ............ 126,606,769 90,916,789 86,898,476 147,100,859 54,970061 33,995,972 218,207,01414 clahoma City-Ada.Atoka .............. ..116112 4,62 749 02 17,178
St. Louis, rownsville and exico .. 1 4,161339 2, a N 3,493,3 23191 -
Alabama Great Southern ................ 425,066 1,597,796 2,716,910 1,22,878 1,565,000 1,0814,000 1,793,656 1-.45T.346 St. Louis-San francisco. ...... 10,417,57 9:03491 6239#3,13 44380ag 2,977665 3.092,985 -
Atlanta & Saint andrews eay......... 6 2T79,172 413,5114 267,95-1 252521 91,00 30,000 30,000 St. Louis, San francisco andT2261.823 V19 62620 -
A5T94 48 201229 34764 128,111 18,66 9,12 149,272 ft. Louis Southwestern...............10,981,197 9,537,578 9,390,770 7,122,112 7,320,3 992744 1,53,665
Atlantic Coast Line ................. 14,257,121 3T76,97122 2 250,000 500,000 3,301,178 3,301,583 San.Antopio, Uvalde & Gulf" 86..........1 d 2
Central of Georgia ............. ...... 1758,521 d 4 3 .lT7 d3 4 939751. 82,942 152,070 Texas and New Orleans................% 7,321,459 6,911,180
919714 7:77 70001 5.000 Texas and Pacific..................... .8,0162 6,12,76 375,000 2756,000 2 3 2,735350
Cincinnati. New Orleans & Texas Pacific 1 7,535,729 5-6145-373 5,913,375 3,990,8261 4,230,0001 3,1410,000 1 3,700,4147 2,803,1427TI t Mex ic ~an......................... 295,91 576,1890 618,776 1452,670 375,000 275,000--


* Report of receiver or receivers.
00 Beport of trustee or trustees.
I Deficit or other reverse item.
T/ Includes Boston & Albany, lessor to New York Central R.R.


/ formerly included in report of Minneapolis, St. Paul & Sault Ste. Marie.
Includes Atchison, Topeka & Santa fe Ib., ulOf, Colorado & Santa Fe. Py., and Pnanhdle & Santa Fe ty.
S 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 O 800193








Subject to revision


UNIVERSITY OF FLORIDA


3 1262II 0885 2818 INTERSTATE COM,.ERCE COMMISSION
BUREAU OP TRANSPORT ECONOMICS AND STATISTICS


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)


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of December For the twelvemonths of For the month of December For the twelve months of For the month of December For the twelve months of

1948 19471948 19147 1948 1947 198 197 198 1947 1944 1947

1. Net railway operating income.................. ....-...- 64 661 934 $76 669 096 1002 352 317 (780 438 282 421 306 092 i17690 120 334 797 565 215 803194 5 310919 6 094 416 $95080795 8 622 971
2. Other income............ .....----- --... 38 696 341 46 859 852 235 090 113 229 520 569 14 938 603 26 825 877 103 985 216 108 676 004 2 361 198 1 479 670 10 469 525 9 534 249
3. Total income... ....- ............................-103 358 275 123 528 948 1237 442 4301 009 75 851 36 244 695 44515 997 438 782781 324 479 198 7 672 117 7574.286 105570320 98 157 220
4. Miscellaneous deductions from income..... -------..---- 5 919 013 5963 658 64 835 800 45017227 1187113 513 743 18 126 106 7703248 1 758 848 477 380 13 850474 5 011 391
5. Income available for fixed charges................-- 97 439 262 117 565 290 1172 606 630 964 741 624 35 057 582 44 002 254 420 656 675 316 775950 5 913 269 7 096 506 91719 846 93145 829
6. Fixed charges:
6-01. Rent for leased roads and equipment........ 9 635 435 10926 432 130170 50 123 212 470 7224 902 7 403 977 85 475 827 85 627 218 14 081 13 815 176048 176 257
6-02. Interest deductions I/...........--...----....... 23 853 506 25864 144 290 757 352 310067 488 9 833 661 9975 455 127 168953 129 382 747 1209287 1 038 328 13097740 12514350
6-03. Other deductions..........................- ...... 528 500 391 495 2 305 075 2 067 453 251 153 144 759 789 284 690 168 10 319 22 240 48686 40527
6-04. Total fixed charges...........----.- ---....- 34 017 441 37 182071 423232 935 435 347411 17 309716 17 524 191 213434064 215 700133 1233 687 1 074383 13322474 12731134
7. Income after fixed charges.... ..............--..---- 63 421 821 80383 219 749 373 695 529 394213 17 747 866 26 478 063 207 222 611 101075 817 4 679 582 6 022 523 78 397 372 80414 695
8. Other Deductions...---------------. 13 531 824 7 600554 49 361 186 39 023 203 11167180 5 889 128 26 294426 17 808 357 -
9. Net income............ ..... .. .. ..... ... 49 889 997 72782665 700012509 490 371 010 6 580 686 20588 935 180 928 185 83267460 4 679 582 6 022 523 78 397 372 80414 695
10. Depreciation (Way and structures and Equipment)..... 32848 365 29654285 375 617 262 352759 659 13 282 781 11717 921 151 857 998 144173505 2 457 901 2 203 572 27 774 25 26045976
11. Amortiation of defense projects--..........---- 1 158622 1 420 890 16 568 904 16 208 433 471 163 464 233 5 572 722 5 602 763 72605 72 344 863 127 812 619
12. Federal income taxes ...... ..... -----33649 024 23908620 448 300724 297 676 399 6 959 535 d 3 991 754 117 987 407 48 412 501 4 691 096 3 557 861 52 568 646 47793 281
13. Dividend appropriations:
13-01. On common stock ........................ ........ 28 854 228 20 496 866 219 761709 181706 350 6 780 363 7 162 818 51 021 601 31 547 906 723 408 723 408 50 100 598 52 275 205
13-02. On preferred stock .-......... .---.----........... 10 256 958 9 105 346 69 244 804 54 759 213 4 219 971 1 701 213 15 178 817 11 241 073 235 109 235 108 3 264100 3 231 277
Ratio of income to fixed charges (Item 5+6-04) 2.86 3.16 2.77 2.22 2.03 2.51 1.97 1.47 4.79 6.61 6.88 7.32

SOUTHERN REGION WESTERN DISTRICT
SOUTHEuN REGION WESTERN DI T MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
OF DOLLARS OF DOLLARS
Income Items For the month of December For the twelve months of For the month of December For the twelve months of 100 0o

1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income................... ....... (12 364 335 $14 854 677 $138 971 103 $103 771 466 $25 680 588 $38 029 683 433 502 854 $372 240 651 80 -
2. Other income.......... .. ....------ 2 768694 2 830 649 19 817 720 20504277 18627846 15 723 256 100 797 652 90606039
3. Total income ..... ........-------- 15 133029 17 685 526 158788 823 124 275743 44308 434 53753 139 534300506 462846690
so ~--- --I--------.I 'eo
4. Miscellaneous deductions from income ..........--. 333045 605 871 6 236 308 5 583750 2640007 4 366 664 26 622 912 26718 838
5. Income available for fixed charges.............. 14 799 964 17 079 655 152 552 515 118 691993 41668 427 49 386 475 507 677 594 436 127 852
6. Fixed charges:
6-01. Rent for leased roads and equipment............. 905 652 1 384 757 10348 11 10753912 1490800 2123 83 34170522 26655083 40- ---- 40
6-02. Interest deductions/............--------- 3645148 3782789 41750458 45204211 9165410 11067572 108 740201 122 966 180
6-03. Other deductions ......................... 123 266 112 039 401 311 377 391 143 762 112 457 1065 794 959 367
6-04. Total fixed charges .......................-------- 4 674 066 5279 585 52 499880 56 335 514 10 799972 13 303 912 143 976 517 150580 630 ___
7. Income after fixed charges................... ---- 10125918 11800070 100052635 62356479 30868455 36082563 363701077 285547222 -----------
8. Other Deductions ........................ .. 882251 259 544 3 910492 3715095 1482393 1 451882 19156268 17499751
9. Net euincomes .....9 243 667 11540 526 96 142 143 58 641 364 29 386 062 34 630 681 344 544 809 268 047 471
0 9. Net income.O .
10. Depreciation (Way and structures and Equipment)...... 4 380 898 4031956 49644 797 46 056 373 12 726785 11700 836 146 340 209 136 483 805
11. Amortlation of defense projects......------------.. 216104 212184 .2 547 083 2594997 398750 672129 7 585972 7197854
12. Federal income taxes ...................- 6 377153 3 250 913 61347 214 37 246 865 15 621 240 21 091 600 216 397 457 164 223 732 --
a *o -- y---------------- ----------to
-0.13. Divid n commaton stock 6 519 418 4 383 218 24 550774 19821898 14 831 039 227 422 94 038 736 78 061341
13-02. On preferred stock.................. 2260223 2968 818 6 957 205 5737182 3 541 655 4 200 207 43 844 682 34 549 681 -40 -40
J FMAMJ JASONDJFMAMJIASON J FMAMJJASOND1
Ratio of income to fixed charges (Item 5-6-04) 3.17 3.24 2.91 2.11 3.86 3.71 3.53 2.90 1946 1947 1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Iteme at t e o Seleoted Liability Items Ba e at te ANALXTYI OF NET INCOME--ALL CIAS I RAILWAYS
Balanoe at the end of December Balance at the end of December
1948 1947 1948 1947
14197 1ld 1947 Reporta showing Reports showing
17. Expenditures (gross) for additions and betterments- 10. Funded debt maturing within 6 months /.. ... .. 198,549,463 (126,525,769 Period Met Income Net Deficit
Road.......................... .... .................... ..- -....... $344,928,638 $289,572,777
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable/ -. ... ...........1,2 4,755,000 ------ Number Amount umber Amount
Equipment ...... ..... 920,940,908 571,269,504 42. Traffic and car-service balances-Cr. .9 105,798,05
19. Investments in stocks, bonds, etc., other than those 43. Audited accounts and wages payable...50432,128 511,276,01 December 1948 94 65,456,889 29 *15,566,892
of affiliated companies (Total, Account 707) .... 518,496,172 58U,860,983 Miscellaneous accounts payable...... ....... ....... 233,67,981 2 478,809 December 1947 9 8,51,600 25 ,75
20. Other unadjusted debits .... 123018,294 18,833,181 4. Interest matured unpaid ........-..-...... .......5 8312 12 month 19. 8 103 731, 72,73 19 31,76,
4. Dividends matured unpaid -.................. ..........5 6, ,116,656 12 month 1947 92 532,8,049 31 42,317,039
21. Cash.-....--. .... ....-- .... ..-. .. 900,662,891 9,619,152 .7 Unmatured interest accrued ..-.......... 71,224,80 6 449
23. Special deposits.....-...---------... .. .-- .. ----- 121,73,24- 136,11,11 49. Accrued accounts payable ...-214,240,613 181,908,017
22. Terarycan. ca-shinvesmeaant .. 27 1. UnOatheurre dividend claied 2.6o0,67 9 66 or2e0 ,1 4te 3,o0lne come
24. Loans and bills receivable..................... ..... ................. 6, 21 1269,084 50. Taxes accrued 7 94 9 63 8,6 xludes reports of roads hose net come
25. Traffic and car-service balances-Dr.. .............. c- t 55,327,330 56,874,275 51. Other current liabilities .,8....6,3850,527 97P3,266 (or defloit) wae absorbed by the controlling company.
26. Net balance receivable from agents and conductors 122, 12978 134,908,571 .. ---------_-
27. Miscellaneous accounts receivable .. 346,531480 333,045,633 5. Total current liabilities (items 41 to 5) ...... 2,065,928,122 1,950,763,583 Pericd Number Excluded
28. Materials and supplies.. 857112!,247 75 ,990 1-
29. Interest and dividends receivable ...,19 4,66 1 060,64' 53. Analysis of taxes accrued: December 1948 14
30. Accrued accounts receivable. 16 5,42,994 179,9546 53-01. U. S. Government taxes .627,919,14 521,287,983 December 1947 4
31. Other current assets 38,775,193 39,492544 53-02. Other than U. S. Government taxes 12,97 ,55 i17350,7 12 months 1948
54. Other unadjusted credits 26,158,563 335,807,755 12 months 1947 4
32. Total current Assets (items 21 to 1) 3675,819,385 3,579,016,9021 4. Other unadjusted credits


d Decrease, deficit, or other reverse item.
/ Represents accruals, including the amount in default.
Excludes Misesouri & Arkansas Ry. Co. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt in default) which becomes due within six months
after close of month of report.
/ Includes obligations which mature not more than one year after
date of issue.


Statement No. M-125
DECEMBER 1948







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 1948 AND 1947


Page 2


NET ALWAYS OPERATING n INCOMi FEDERAL INCN DITIDZD N2T RAILWAY OPERATIC N INCOME FEDERAL IHCOWI DITIDED
IIOWN A APPR BIATIhIS IWNS 0h TA APPrOpAtIRISI
Region and railway 3r E _A R________Region and railvway IM
1948 1947 1948 1947 1948 1947 194s 1947 1948 1947 1948 1947 1948 1947 1948 1947

United states Total ................. $1.002.352.317 S70.438.282 $7000,12,509 $490.371,010 448.300.724 $297.676.399 $289,006.513 236,465,563 Southern Region Continued
astern Distrit Totl ............ 334,797,565 215,803,194 180,928,185 83,267:460 117,987,107 48,12,501 66.200,418 42.788,979 Clinchfield ........................: 6,850,01 6,826.,245 $6r .93 $650.235 -17,38
Columbus and Greenville .............. 103.402 6 118.402 2.92 1153 $17.238
New Engiand Region Total ............ 23,48,6 12,605,820 13.523.276 357.575 8.944.521 2,384.431 266.273 265,750 Florida t Coast** ................. 1,8552 1, 2.052 81 d 2,404,136 4 1 140000 --
Georgia R.R. Lessee Organisation .. 1.235.356 620.611 -
Bangor and Aroostook .................. 2,913.380 1.655.920 2.384,235 1.164,550 1,7.742 759.947 191,00 191.00 Georgia & Floridar ................. 21324 d 184,140 d 1,026,1 96.475 --
Boston nd Maine ..................... .,270.759 5.930,515 ,504.38 1,98 51 85 1.875.578 Geort Southern and Florda ....516,045 352,1 21.73 5. 157000 10039,000 -
Canadian National inesin New nland 1.27.052 d 1 167.793 d 3.19 G 0lf, Mobile and ohio ............... 9.097,324 6.76.002 6.122.074 4.17.955 .750.000 1.71.269 1.75.809 $1.75.809
Canadien Pacifc Lines in Mains ...... 15351 110 Illinois Central ...................... 29.770.116 24.318.396 20.99.220 15,039.U42 14.296.600 9.702.000 1.118.718
Canadian Pacific Lines in Vermont ....a 1.125 95 1.3 226 Lu lle hll............. 21175,636 1620,657 18,497,903 13.26,947 11,225.664 8,310.873 8,236.800 8,236,800
Central Veront ...................... 2 2 720621 587 76.53 Mississippi Central ....................... 315232 165,429 258,299 61.781 157120 .66 -
aine Central ....................... 2,485610 2.166610 .7 1 1 882 1,06.6031 433720 74.873 74350 Nashville, Chattanooga & St. Louis ... 2.932.666 1.936,033 1.78.857 801479 1.2.51 451.7 767.947
Nw or Conneti................... 7039 6 28 30.915 d 59.2564 5.000 .000 New Orleans and Northestern ......... 2,692,434 1.978.715 2.449,585 1.728,056 1.730.000 1,425.000
w York, Haven and t ..... 10.902,536 4.908.131 5.79 6 d 21.12 260 49,202176 d 726.36 Norfolk Southern ..................... 614.654 1.366212 437.066 1,376.016 678.360 o I5 211.769 -
Rutland' a 18 9 a 539,785 d 3.5a6292 869074 Seaboard Air Line .................... 13187842 8,789,771 9.96565 6,031.916 5.372.786 0 0 1.600.000 750,000
........................... southern ............................ 29.48.740 21.375,01 19,24,065 1192.761 12,780.000 8,980.000 8.517.350 6.894,600
Great Lakes Recon Total ............ 138.697,033 93.119,412 84.159,101 40.117.371 43,616.512 16,701.196 28,651,236 17,596,50 Tennessee Cental .............. 29.,152 10.9 6 d 216,7 d 1 400999 4 2 14,627 -
Ann Arbor ......9 3.121 9 t s2-s nw Ab .3........................ .9 53 617,177 716.276 1412.391 -,82 W7.0 120.000
Cambria and ndi9............... 654 460.19 69212 25.37 618.664 567.3 390.000 390.000 tern Dstrit. Total ............. 43.50.8514 372,2o0.651 344.544.809 268.0.47.171 216.397.457 1614223.732 137.933.418 112,611.022
Delaware and udson .................. 7,356,928 5815.382 5,136,801 .54 ,0 3,24.000 2.582,793 -
Delaware, .Lackanna and Western ..... 11.362,.804 8.22 247 6,256.2 3 257326 3.53.688 745520 422206 -
Detroit and Makia ............... 7 3 37250 436,21 2687 29.965 150,50 north tern Region Total .........101670,937 91,381,376 74,341,252 65.54.513 32,412,081 24,156550 27.168.707 29.807,607
Detroit and Toledo Shore Line ......... 1018605 858721 929.983 765,210 569518 49665 510000 240,000
Ert ................................. 20,224.823 11,528.288 114.295,318 6.5,21 .51, a 00 2. 5h7W, 4Ohioo an Northestern ............ oO, 653,262 676.995 5.70 70.6905.1 6,109.7 .7oo 2390,000 6,205 1 ,980,7s6
Grand Trunk esten ................... 5342123 3.572.923 592,968 d 997.017 10,000 Chiago Great Western ................ 3,598.771 2.388.828 2,882.080 1,1.730 1,47,4000 d 142.212
Lehigh and Hudson W r v ............... ,72 226,910 36,728 52300 243,617 167,101 282,420 253550 ChoC ,,iln e.t.Paul and P i. 15.514,5 16.812,176 5 ,12,0 97.04 4,4.000 3.1 0 4486,960 2.804,350
Leh and New nland ................ 106.48 1.49671 1.890,494 1439,066 1.105 952,119 1,156.000 952,000 Chicago.Saint Panl.Minnepolis & O 1,960,1 1,625,278 860
Lehigh alle ......................... 9200990 4279880 3315,061 d 182.1 Dluth, M e d Iron .......106542 8952762 647.412 511 8225000
Monongahla ...................... .... 1,490,972 1.656.799 1,073.668 1 214821 733.101 499.600 499,600 Duluth, South Shore and Atlantic ... 713.952 537.145 t l 05.0760 -
Montor ............................... 814,660 742.621 812.937 730,261 .223 442,474 408,000 65,470 Dlutth, Winnipeg and Pacific ......... 19.024 142,984 9 d
New York Central / ................... 37.221,591 24,519,561 14,727096 2,306,082 1,647,016 6.222 3,223.697 Great sorthrn ....................... 27,199841 23.15.730 27.5673 22,498700 6,555.124 6,997.997 10,823.927 9.277.647
New York, Choico and St. Louis ....... 16.316.966 10,212,642 15.353.838 8.17,.013 9.05,8587 4 11.03 5.949.335 2.1663. 9 Green a and Western ................ .191 7 1616 5.7 219.39 125.0 125.000
New York Ontario and Western ...... d 25d 2.3 .737 d .- Lake Superior Ishp ing ............ 764,22 863,773 798,176 872,28 502,535 545.373 267,750 374850
n&e& Wores tdn6ar a2 western ....... a27 9
Rw Yor, Susquehanna & L estern"..... d 76 7 2 .596 5.6i6212 4 6- Minneapols & St. Louis .............. 2.279.389 1,914.674 2.216.636 1,949324 1,287.567 1,11,901 750.000 750,000
Pittsburgh ad Lake Erie .......... ... 9677960 7.476516 8.328, 66 79 46826 3. 099 690 00 5.181900 Minneapolis, St. Paul & 5.S. Marie .. 2,510,339 2,033,179 1,871,066 1,283.65 1,135,000 845,000 719,104 719,104
ttsbur ad Sha t ................. 524 595707 27175 472,613 187,415 northern Pacifio .................... 20,140.126 18.005.493 12.312.411 13379.704 5.700.000 3,235.000 3,719.565 2,479.710
ittsburh and West irginia........ 1.935588 1.639.49 1.476.535 1.118912 911.730 a 53287 305.000 Spokne Intrnational ............... 209.5 222,716 105.48 101.819 72,695 45, 57141 7 1,1 60716
Wabash ............................... 1 91 10 57 10,5532 7.39.2 366404 70 2.95,98 2.596005 Spoken, Portland and Sattle ........ 2,189.606 1,832,871 d 1, .187 1.35.93- -
Wisaonsin Cntral / ........... 3,952.724 3,489,563 2,17,737 1,535.7 975,000 .00 -
Central Eastern region Total........ 172,251,66 1 o9,777, 83,245.808 42.792,514 65,426.374 29,326,874 1 37,s28,909 2149263 5,721 0
Central Western Region Total .......22,558,T73 190,627,1141 197,082.016 153,6144.820 1314.777.245 1101.472,076 100. ,23116 78,396.495
Akron, anton & Youngstown............... 1,123,588 29.821 905,880 611.817 537,711 65.111 149.s45 106,675
altimore and Ohio 2............... 43.1109999 12,57,782 5.612.798 10,40.,25 2,49,000 588,632 Atchison, Topeka and Santa e / ..... 68.715.752 54.302,422 62.842,771 47.743.744 4.486.907 35,130,492 25.625.120 20,721.000
essemer and Lake Erie ................ .,828302 7,580,819 6,771,770 6,55,623 4299631 4342.906 5.000, 000 5.500.000 Chgo Burlington a qiny......... 32737,495 31.7090s 28.81,700 27,741,871 21,475.252 18.197.831 11,958.709 10250,322
central R.R. Co. of New Jersey* ...... 3 8 791d 4.923 1 .4 55 3,41 5l4 2 79 853 Ohicao. Rock Island d Pcific ..... 891,753 21255,374 18.8956.388 9.288,187 12.975,500 6,425,000 7,751,943
Central R.R. Co. of Pennsyivania 8 7695 63 2,412216 8,088 9,091 1.830.100 Colorado and Southern................ 826,776 699,039 776,683 33.208 606.15 531,0
hicgo astern Illinois ............ 2216509 2285042 11 396 44,803 538.400 a 1,65700 383,751 Colorado Wroing ................... 654,696 40828 604,7 6.107 277,867 265.200 110.000 -
Chioago & Illinois Midlad ............ 2.411,740 1,667.558 1.998,122 1.313,371 1.265,255 808,99 6 300,000 Denver and Rio Grand Vestern ........ 12,156,28 8,330,813 7.331.175 4,426.345 3.309.500 2031.79 2.329.919 3253.130
Chicago, Indianapolis and Louisville 1,476, 3 74,184186 d 10 2 4,606 Fort Worth and Denver City ........... 2,478,709 2217621 1.289.521 1.021,316 893.772 810.2 -
Detroit, Toledo and Ironton........... 3,816.80 3,127,408 3,522549 2,808, 1,798,570 1,224.366 1.471.980 1,349.326 northwestern Pacific ............... 45.027 416287 47070 233376 -
in, Joliet andEastern ............ 7,76991 5,162,157 7502,569 4,71,.482 4,7 590 3.037,057 5.157,000 2,865.000 Sacramento Northern .................. d 474,70 471.76 4 1207, 00 d 021, 1 8 -
linols Teminal..................... 1,952,46 1,8231 1,3961 1,26.689 1, .200 888.800 370,000 360,000 Southern Paific ..................... 3 .50 30 o74 9 6,790190 8,.3 32 16,08o637 15,461,166 16.977,434 15,091.052
L.ong Island ........................... d .23 .148 2.190.35 d 6.0,6sO d .99617 Southern Pacific Treanp. System ... 49,905.973 44.655.931 38.759,586 33.436587 24.90,891 23,037,951 16,977,434 15.091.052
Missouril- inos. ...................... 1035 77 1. 7 95.23 685,000 536.000 126.685 126,655 Toledo, Poria Western ............. 706.662 3 647289 4 1 13,658 2,590,000
Peannlvania.......................... 69,93118 32,311073 34293 7 ,125 23.290.592 4,911172 13,167,754 6.583,877 Union Pacific ........................41975632 67289593 293 30.49590 30.659.169 2623.349
Pennsylvania..Rading Seashore lines ...d a2 d 2 4 l .I57 d3 .368,002 321.1114 Utah ................................:d 52.n6 61.329 d d -&--
MR-3-129 ..**************6.430:334 5.153553 5,246.562 4.197374 Western Paio ..................... 5,085592 2689.744 1.169.000 2,817,822 2,17,642
Reading............................. ,41?010,,7,215,b9 6,30.3o,314 5,153,553 5,2146,562 14,197,3714 Western -Pacific ......... 5.085,592 3950NO 1 2,68
Staten Island Rapid Transit .......... d 6Z d 1o 6 d 1232,9 -
estern M landr ............... .... 6 8.5698 .473,1 2.999,951 1.2741.940 1,2141.940 southwestern Region Total.......... 109273,144 90,231.834 73,121.541 4,58,138 49,208,131 29.595,106 9,941,595 4,406,920
Wh ng and Lake i ............ 9,150:147 6.608.277 8.914,743 6.480.360 5,525,000 3.891,000 1,948.660 2295.41 31...4
eeanmont, Sour Lake a Westerna ...... 1,692,426 1,894,011 1.667,145 1,786,500 735,495 356,2 s --
Sothrn riot ............. 234,051,898 192,394,437 174.539.515 139,056.079 113,915.860 85,o4o,166 84,872,677 81,065562 blingtom land............. .... 650225 185 6661 193 -
Pocahontas Neion Total ............. 95,080,795 8,622,971 78.397.372 80,414,695 52.568,646 47,793.2s1 53,36,698 55.506,s ansaas ity southern ................. 10.286,37 7.629,756 8,745,061 5,809,M5 5,260.000 2,815.000 1,49,599 840.000
anss, homa A oGulft.............. 1,121, 3 88,549 1,o001,548 859,4 75.537 435,463 609,996 531.570
Chesapeake an d o ................... 45,48,385 42,615,153 29.79,1435 35.387.327 21,872,401 20,713.192 24,128,259 28,349.766 Lousiana A Akansas. ................. 3.555,60 2,r485, 0 3.166.470 1.999,643 2o406,900 1,7,00,2 330 o000 300.,000
Norfolk and Western ................... 38,50,960 35,059,045 38,877,O32 35.3 ,97 23.500,000 20,5oo,oo0 23,383.336 21,273,612 Midland alley....................... 21, ,921 10.,234 103.97 1o0697 82,835 -
Richmond, Fredericksburg and Potoman .. 2.419,720 2,169.508 2.760.08 2, s,917 1,695,40 1,643,964 1,04,6P5 1,07s,61 5 Missour..ensa-Texa ................ 9.324 615 5,43,630 6,503.918 2,820.325 ,326.329 1,666.473 -
Virginian .............................. 8.703,70 ,779,265 6,968.497 7,1 46,55 5,500oo45 14936.125 4,804.458 4.804,459 Missouri-Pa iio*. ................. 26,575.268 21,-3,72 13,o45,693 8,271,925 7.850,00 2, 000,000
SOrleans, Teas & Meico........ 2.394,277 2, .952 2229 2.112400 65755 220,143 -
southern egion- Total ............... 138.971,103 103,771,466 96,142,143 58.641,384 61,347,214 37,246,895 31,507,979 25,55900 Olcahoma ity-Ada-Atok ............ 14.,227 42892 99,755 d 1 15,5 -
St. Louis, Broanesville and Mexico- .. 14.274,113 2,508,319 3,530,227 1,899.1 1,482,897 1407,8
Alabma Oreat Southrn ................. 257,579 1.511.539 3.40,929 2.332.282 1,795.000 1.371.000 1,793.656 1.457.346 St. Loi-San rancisco .............. 11.389.522 1C.373.298 6,8045.142276 5.002.15 3.947.665 3,.92985 -
Atlanta A Saint Andrews Ba ........... 96 7 329.112 448.195 314.380 266,636 207,309 4,000 60,000 St. Louis. San rancisco and Texas ... 596.,65 317.098 479.454 267,820 295.361 165,000
Atlanta and West Point ...............2 8751 181521 112311 122925 d 5692 98544 49.272 St. Louis Southwestern ...............1,71 2 9,879,474 10,363.069 7.223.73 ,087.039 6.395,718 1.853.665
Atlantic Coast Line .................. 5.126754 3 9642 7,65,913 6.003.954 2,050:000 ,ooo 3.301,478 3,301.553 Sn Antonio, Uvalde & Gulf** ......... 060 d 572.421 d 100.162 -
Central of Georgia ............... 2.029,762 d 1 5 792,782 5,064,4 9 s2,942 165.885 Teo s and New Orleans ............... 14349.581 14,81,812 11.457 4 611. 0 7.582.254 7576785 -
Charlston a Western Carolina .... 533,243 2 273,075 956A 55,000 d 6:000 Tems and Pacific ................... 8,507,482 7,742,413 7,021,134 5.460081 665 1,493.191 2,735.350 2,735.350
Cieinnati, Orleans & Teas Pacifi 8,327.292 6.193,843 6,561,482 4.386.675 4.715,000 3.835,000 3.710.670 2.813,670 Teas Me ican. ........................ 273.248 676,023 644,703 541.902 00 317,08s -


SBReport of receiver or receivers.
*' Report of trustee or trustees.
d Deficit or other reverse item.
I/ Inoludes Boston & Albany, lessor to New York Central R.E.


b Formerly included in report of Mitnnepolis, St. Psal & Sault Ste. Marie.
S Includes Atchison, Topeka & Santa Fe By., Gulf, Colorado & Santa FP.. B.. and Panhadle & Santa Fe o y.
D/ ata not included in totals. Includes Southern Pacific Compan.y Texas and New Crleans R.R. Co., and leased lines.
U. 8. GOVERNMENT PRINTING OFFICE:1949 0 800193




Full Text


Subject to revision
Subject to revision


UNIVERSITY OF FLORIDA

IIIllIIIIIIIII IIIII IIIIIIIIIIIII illI :I INTERSTATE COMMERCE COMMISSION
3 1262 08851 1703 BUREAU OF TRANSPORTECONOMICS AND STATISTICS


Statement No. M-12
MARCH 1948


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

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


UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of March For the three *oathn of For the month of March For the three months of For the month of March For the three months of

19418 1947 19a "g1947 1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income....-..--...................- 60724 331 73924 143 $142646578 (176243934 619234174 $21722460 $32772643 $41149950 $3463919 9632463 $16 106 357 $25 213973
2. Other income.........--..... .......... ......-----17 285 602 15656104 56077735 48 029601 7155 526 8 013766 28 535612 25 560927 542 948 604 514 2 233 321 1 971 464
3. Total income..........-------.......---------- 78 009933 89580247 198724 313 224273 535 26 389 700 29 736226 61 308 255 66 710 877 4006 867 10236977 18339678 27185437
4. Miscellaneous deductions from income ............. ....3915897 3241415 11 202887 9560477 850148 721 774 2 237 635 2141795 444 184 443669 1557161 1 133260
5. Income available for fixed charges................ 74094036 86 338 832 187 521426 214713058 25 539 552 29 014 452 59070620 64 569 082 3 562683 9793308 16 782 517 26052177
6. Fixed charges:
6-01. Rent for leased roads and equipment........... 11133636 10810769 31193564 31724786 6976483 7 197 813 20867534 21198756 13852 14942 43481 46965
6-02. Interest deductions / ......------------- 24220565 26044519 72799038 78525630 10520343 10924 057 31716144 32814077 1034533 1041502 3095613 3131534
6-03. Other deductions.................------ 145 570 136443 425190 410491 44941 38 469 123149 111 572 2230 1462 6688 5008
6-04. Total fixed charges..--................ --- 35 499771 36991 71 104417792 110660907 17541767 18160339 52706827 54124405 1050615 1057 906 3145782 3183507
7. Income after fixed charges ..............--...-- 38 594 265 49 347 101 83103634 104052151 7 997 785 10 854 113 6363793 10444 677 2 512068 8735 402 13 636 735 22 868 670
8. Other Deductions...--- .... ....................... .................. 3 147705 2 708 989 9 604472 8 151 587 1341 534 1 033 575 4 070473 3 072 554
9. Net income............... ........ ....... ....... ....... 5 446 560 46 638 112 73 499162 95900 564 6 656 251 9 820 538 2 293 320 7 372 323 2512068 8 735 402 13 636735 22 868 670
10. Depreciation (Way and structures and Equipment) ..-. 30 471 453 29 368 501 90 762 541 87077270 12290123 12210293 36 580800 35 891973 2 233 226 2 153 555 6653260 6444708
11. Amortization of defense projects..----.......------- 13 69805 1351572 4423679 4071962 464296 468085 1392515 1433576 69906 59144 210276 178096
12. Federal income taxes .................----- ..- .. 26 104 975 30265 133 71337602 74997353 6686811 6 193 707 17364056 14484664 1368369 5208478 7950419 13795519
1J. Dividend appropriations:
1. Divid prOnptmon stock ............ .....-.....- 9 725 988 12 152 596 38 966 044 34456494 7173 661 7 162 164 8065139 8 055 642 10856559 10041011
13-02. On preferred stock ...................... ....- 11372 449 2572569 17966393 7919766 610,238 615846 3393319 3655448 140000 172991 140000
Ratio of income to fixed charges (Item 5+6-04) ... 2.09 2.33 1.80 1.914 1.46 1.60 11.11.1 3.39 9.26 5.33 8*.1

SOUTHERN REGION WESTERN DISTRICT
SOUTHERN REGION ____WESTELLIOR NET INCOME- ALL CLASS I RAILWAYS mu,.umu
of DOLLARS OF DuLLARS
Income Items For the month of March For the three months of For the month of March For the three months o 00 100
1948 1947 1948 1947 1948 1947 1948 1947
eo ...
1. Net railway operating income .....--- ...----...... 12 729 959 $11949 009 $33 892793 $31 253 038 $25 296 279 $30620211 $59 874785 $78626973
2. Other income...................-.... -----.----- 1181593 1068 976 3744054 4038 098 8405535 5968 848 21564748 16459112
3. Total income.--...-..- ........---------------------. 15 3911 552 13 017 985 37 636 847 35291136 337018814 36 589 059 81439533 9508608 ___ _85 _
4. Miscellaneous deductions from income.................------ 610 683 595 967 1 394335 1 659830 2010 882 1 480 005 6 013756 4625 592
5. Income available for fixed charges -...-- 13 300 869 12 422 018 36 242 512 33 631 306 31690 932 35 109 054 75 425 777 90460 493
6. Fixed charges: 40 J 40
6-01. Rent for leased roads and equipment.............. 877 903 836761 2 589337 2459832 3 265398 2761253 7693212 8 019233
6-02. Interest deductions/ -..--..3------------- 753 572 3743 927 11 293 931 11217 760 8 912 117 10 335 033 26 693 350 31 362 259
6-03. Other deductions...........-..-.... .......23 771 23 703 70332 71516 74628 72809 225021 222 395
6-04. Total fixed charges...................-.--- 4655246 4604391 13953600 13749108 12252143 13169095 34611583 39603887 o .--.-- .. -0o
7. Income after fixed charges................----- 8 8 645623 7817 627 22 288 912 19882198 19 438789 21939959 40814194 50856606
8. Other Deductions. ............-- ........-- ..--------..............- 304 424 261017 900 864 802921 1 501 747 1 414 397 4 633 135 4 276 312
9. Net income...... ............ -..----------------------- -. ............ 8 41 199 7 556 610 21 5388 048 19079277 17 937 042 20525 562 36 181 059 46 580294
10. Depreciation (Way and structures and Equipment).... 4035370 3738 984 12063590 11111573 11912734 11265 669 35464891 33629016
11. Amortl titon of defense projeot........--------------- 212 092 218 759 636 031 657 644 623 511 605 584 2 184857 1 802 646
12. Federal income taxes..........................-- .-- 5440893 4993977 13204481 11996349 12608902 13868971 32818646 4 720 821_t o 1 64 3 8-to
13. Dividend appropriations:
13-01. On common stock.................. ---- 9000 3 184610 2882627 2543 327 4990432 16 859 736 13479214
13-02. On preferred stock -.............-...14 108 14 213 34553 34 658 10 748 103 1 802 510 14 365530 4 089 660 40 i l -40
JRraMnAmhJ J AiSONMD J F2MA.M8J JA6 0 NR J IFMA1M J JAI OM0
Ratio of income to fixed charges (Item 5+6-04).... 2.86 2.70 2.60 2.45 2.59 2.67 2.18 2.28 1946 1947 1948
r 'I


Selected Expenditure and Asset Items


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
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 Net balance receivable from agents and conductors
27. Miscellaneous accounts receivable ...... ..........
28. Materials and supplies.......... .................
29. Interest and dividends receivable......... ..
30. Accrued accounts receivable ........... .......
31. Other current assets ....... .. ..............
32. Total current assets (items 21 to 1).................


UNITED STATES
Balance at the end of March


Selected Liability Items


UNITED STATES

Balance at the end of March
1948 1 1947


I 1 r


(59,022,247
203,158,A47
~og,s51*


1$49885,792
100,728,7814


40. Funded debt maturing within 6 months 2_ ...............


41. Loans and bills payable I....---...... ... ..---- ---.-.
42. Traffic and car-service balances-Cr....-....-............
Audited accounts and wagps payable.........................
.Miscellaneous accounts payable.................. ............
5.Interest matured unpaid............... ................
Dividends matured unpaid........................-
. Unmatured interest accrued... ........ ..........................
4g.Unmatured dividends declared......... ................
49. Accrued accounts payable........... ............... ......................
50. Taxes accrued................
51. Other current liabilities .... .............................................
e3. Total current liabilities (items 41 to 1l )


53. Analysis of taxes accrued:
53-01. U. S. Government taxes.............................
53-02. Other than U. S. Government taxes...
54. Other unadjusted credits ...........


$152,12,6231


4.795,000

227,702,678
73 2904
18,551,021
6,8 61,777


97.515.4675
1.927.165.638


$180,084,719


8,93,5000


1620 ,O31
5ll,276


91: E:10
1.606,383.340


S5336:7,6 352,76,81
335,647.W 352.7368U1


AMALXSIS OF NET INCOMe--LL CLAS I RILEUY


Period


I eotaSown


Reports Ihowing
Net Income
Number mount


Reports showing
Net Deficit
Number Amount


March 1948 92 '414,895,1 31 9,448,1
March 1947 96 52,120,244 27 5,48132
3 months 9 87 112,959,531 36 39 160 9
months 197 87 120,209,822 35 2409,258

Excludes report@ of road whose net income
(or defolit) as abeobed by the controlling company.
Period Number Excluded
March 1948 4
March 1947 4
3 months 1948 4
3 months 147 5


2/ Includes payments of principal of long-term debt (other than
long-term debt in default) which becomes due within six months
after close of month of report.
/ Include obligations which mature not more than one year after
date of rsue.


19Junt'48


d Decrease, deficit or other reverse item.
T/ Represents accnuals, including the amount in default.
# Excludes Missouri & Arkansas Ry. Co. Road not in operation.


1


__ ______ l_____ ~ ____~_~~__ ~ I r _l ..1


I


:.j








Subject to revision


UNIVERSITY OF FLORIDA

31262I08851 2966 INTERSTATE COMME CE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS

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


Statement No. M-12S
NOVEMBER 1948


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

UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of November For the eleven months of 1or the month of November For the eleven months of For the month of November For the eleven months of
1948 1947 1941s1947 1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income...........................--- 84065713 65954486 (937 690 383 703911817 28246601 (19465 862 (313491474 $198255705 6 981636 $7 144826 89 769 876 $82 528 555
2. Other income -............... ...............20 450 484 19 750 898 196 39 771 182 448 310 10768692 8695 165 89046 612 81 837 720 943 993 891 236 8 128 327 8 054 379
3. Total income........... .-- .......... -- 104 516 197 85685 3841134 084 154 886 360127 39 015293 28 161 027 402 538086 280093 425 7 925629 8 036 062 97 898 203 90582 934
4. Miscellaneous deductions from income...................4 867 888 3340164 58916787 39053568 710053 542 385 16 938 993 7189504 1 597775 468 242 12 091626 4 534 011
5. Income available for fixed charges .............. 99 648 309 82 345 2201 075 167 367 847 306 55 38 305 240 27 618 642 385 599093 272 903921 6 327 854 7 567 820 85 806 577 86 048923
6. Fixed charges:
6-01. Rent for leased roads and equipment ........ 10 466 251 9 271 772 120 535 073 112 286 039 7 106 942 6 983 860 78 250 925 78 223 241 14 767 13 036 161 967 162 442
6-02. Interest deductions/ ............24 205 699 25 316 455 266 903 846 284203 344 10570 965 10504 388 117 335293 119407293 1155 581 1 042 041 11 888453 11 476 022
6-03. Other deductions ......................- ...... 221 504 165 198 1776 575 1675 958 72 566 59 883 538 131 545 409 3 433 1 463 38 367 18 287
6-04. Total fixed charges ............------------ 34 893 454 34753 425 389215494 398165 341 17 750 473 17 548 131 196 124 349 198 175943 1153 781 1 056 540 12 088 787 11656 751
7. Income after fixed charges..........------ .. 64 754 855 47591795 685951873 449141218 20:554 767 10070511 189474744 74727978 5 174 073 6 511 280 73717790 743 92172
8. Other Deducons ...2 994 505 3 098 094 35 145262 31422 647 1 363 180 1 376 15 15 127 247 11919228 -
9. Net income d ......... ........... .................................................... 61 760 350 44 493 701 650 806 611 417 718 571 19 191 587 8693696 174 347 497 62808 750 5 174 073 6 5.11 280 73 717790 74 392 172

10. Depreciation (Way and structures and Equipment)...... 32276 606 29 916 498 342 768 896 323 105 363 13045 835 12 127 578 138 575 216 132455 584 2 422 604 2 183 369 25 316 357 23 842 404
11. Amorniation of defense projects ............-- 1 396 566 1 267 324 15 410283 14787544 473 474 451 109 5 101 560 5 138 531 86 813 82 304 790522 740 475
12. Federal income taxes................................. -- -- 41 338 248 24 558 625 414 651700 273 452193 11 371 853 5 186 338 111 027 872 52088 669 4 289 638 3 895 229 47 877 550 44235 420
13. Dividend appropriations:
13-01. On common stock .... ..................... 52961970 47650110 190907490 161 209492 20.666 156 9 712 961 44 241 238 24385088 10627169 16 482 491 49 377 199 51551805
13-02. On preferred stock-..-.................................--- 6 853 158 8 620 008 58 987 830 45 653 851 2 838 977 2 202 494 10 958 846 9 539 860 173 048 3 028 975 2 996 153
Ratio of income to fixed charges (Item 5+6-04)... 2.86 2.37 2.76 2.13 2.16 1.57 1.97 1.30 5.48 7.16 7.10 7.38

SOUTHERN REGION __WESTERN DISTRICT M__LIONS NET INCOME-ALL CLASS I RAILWAYS MILLION
OF DOLLARS OF DOLLARS
Income Items For the month of November For the eleven months of For the month of November For the eleven months of 100 1 I0(
1948 1947 194819947 1948 1947 1948 1947
1. Net railway operating income .... ....8-- .10 817 491 88 364 220 8126 606 768 (88 916 789 638 019 985 130979 578 6407 822 265 $334 210 768 sO
2. Other income...................... --. 1253298 1058 547 17 049026 17673427 7484501 9085 950 82 169806 74882784
3. Total income...................------ .... ..12 070 789 9 422 767 143655794 106 590216 45 504 486 40065 528 489 992071 409093 552 60 /
4. Miscellaneous deductions from income....... 570272 478 040 5 903 263 4 977 878 1 989 788 1 851 497 23 982 905 22 352 175
5. Income available for fixed charges ..-......1...... 11500 517 8944 727 137 752531 101612 538 43 514 698 38 214 031 466 009 166 386 741 377
6. Fixed charges: A
6-01. Rent for leased roads and equipment...... 793886 88 582 9442459 9369155 2550656 1436294 32679722 24531201 40- ---- 40
6-02. Interest deductions......................529 874 3745 951 38105310 41421 422 8 969 279 10 024 075 99 574790 111 898 607
6-03. Other deductions ..............-.........-- ....27 761 25 939 278 045 265 352 117 744 77 513 922 032 846 910
6-04. Total fixed charges........... ...........-- 4 351 521 4610472 47 825814 51055929 11 637 67 11538 282 133 176 544 137276718
7. Income after fixed charges...-..................- 7 148 996 4 334 255 89 926 717 50556409 31 877 019 26 675 749 332 832 622 249464 659 - -0
8. Other Deductions ages.--.-................... 269 206 308 889 3 028 241 3 4553 50 1 362.119 1 412 390 16 989 774 16 047 869
8. Other Deuctions........................ 879 790 4 025 366 86 898 476 47 100 859 30 54 900 25 263 359 315 842 848 233 416 790
9. Net income e..-----........ ----.......-............--------- .--..-- .-- ------ .... ...............
10. Depreciation (Way and structures and Equipment)... 4 221 274 3951 335 45 263 899 42024 407 12 586 893 11 654 216 133 613 424 124 782 968
11. Amotstion of defense proJects --------------- 211 791 212 000 2 330 979 2 382 813 624 488 521 911 7 187 222 6 525 725
12. Federal income taxes......... ---.. "-"--""" 4 162 771 3 066 288 54 970061 33995972 21513 986 12410770 200776217 143 132 132-tO -
13. Dividend appropriations:
13-01. On c appropriation 2499407 1 815 300 18 031 356 15 438 680 19 169 238 19 639 358 79 257 697 69 833 915
1-02. On preferred stock................................... 280 650 588 043 4 696 982 2 768 364 3 733 531 5 656 423 40 303 027 30 349 474 -40 I -4
1 J F MA MJ J A SOUND J FMA M J J A' 0 ND J F ANAM J J4A>ON 0
Ratio of income to fixed charges (Item 5+6-04) ... 2.64 1.94 2.88 1.99 3.74 3.31 3.50 2.82 1946 1947 1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items Banele a endr oted Llabllit Items balance ANLYBIB OF NET IMCOiL-ALL CLASS I RAILWAf
Balance At the end of November alanoe sat the end of November
1948 1947 198 1947 Reports showing Reports showing

17. Expenditures (gross) for additions and betterments- 40. Funded debt maturing within 6 months _........................ (158,565,758 $121,94,783 Period Not Inom Nt Deficit
Road............................................ ........................---. 8307,737,142 6256,380,222
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable 2..,. .............. ,875,000 Numbe Amount umber Amount
Equipment..... .......... ....................0 53,373 92,4 6 42. Traffic and car-service balances-Cr......---lO10......7... 873 20
19. Investments in stocks, bonds, etc., other than those e Audited accounts and wages payable........................ 60,58,31 Novmbr 1 25 ,613
of affiliated companies (Total, Account 707)...... 522708,801 58, ,861 i. Miscellaneous accounts payable.236......2.... mo....nth 19 299 20 ,492 ,69
20. Other unadjusted debits.... ...2, ,033 Interest matured unpaid... .... ...... .....................- ....-- .. ......1 11 months 117, 9 6 ,059 31 70,8
2. Tepr 6a s i n t 7 4. r Dividends matured unpaid..... ...... .............I ..... o
21. Cash.... .. 1 Unatured Interest accrued-.a ....--.-. ...;--- .... --- .......
22. Temporary cash investments...-- .... -.. 108,, 5 3~ 9. Unmatured dividends declare ..................-......... : '' '
63 Loans andiigUsmreaetivabur l;; ^ ^ 50: Tax.s ccrued dividends declared... ....202,670 182,
Special andeposit49. accrued accounts payable...ivable................................................... 1...... ............. l e ep ts o roads hoe nt noome
24. Loans andbillsareeivaoebl ne...s---D-- ..........3........... ---- -- 1---1,--_rp to3.h202,310 50. Taxesraccrued.............................o..f.r.......................o.................... 7ar6rgnds6,2,Exr tudes.. . .ofroadshwho@* notInno ome
25. Traffic and car-service balances-Dr........ .......57203 51. Other current liabilities 7835 9 6,39, (or defiolt) was absorbed by.th controlling ompny.
2 Net balance receivable from agents and conductors 10,9 2 1. Other current liabilities.... ...............2..._ _
27. Miscellaneous accounts receivable...........................52 Total current liabilities (items 4 t1) 2,221,530,35 2,035613357 Perio Number Exclud
8.. Materials and supplies.... .. ......... ....... 4.... i ,191,116 5 n33,021 A al, f
29. Interest and dividends receivable.......-..-22,70110 17 ,0 53. Analysis of taxes accrued: November 189 4
30. Accrued accounts receivable .............. .. ...........,929, 53-01. U. S. Government taxes .-......... ...... ....... 644,7 ,26 9 ov er 1
31. Other current assets.. ........................... ............ 5,23,18 30 53-02. Other than U. S. Government taxes ................13... 8 6, 11 m4 onthe9
32- Total current assets (items 21 to 31) ............ 3,821,209,738 3,662,34,17 54. Other unadjusted credits.................................... 302,723,2 329,7 70 I o tha 194
3g. ____ Total~1 cu rn s e s (t m 1 t 3 )o- ,2 ,0 ,3 3 6 2,yt l f ^ ._ __ ^ _ _____ h_______________________


d Decrease, deficit, or other reverse item.
T Represents accruals, noluding the amount in default.
SExoludes Missouri & Arkansas .Ry. Co. Road not in operation.


* Inoludes payment of prncpPl of long-ter debt (other than
long-term debt in default) uhioh beoome due within a1x months
after olose of month of report.
/ Inoludes obligations which ture not mor than one year after
date of issue.




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Subject to revision


UNIVERSITY OF FLORIDA

11111111111111111llllllll IIIl ll 11Ill 1 1 11I ll l l
3 1262 08851 1687


INTERSTATE COMMERCE COMMISSION
BUREAU OF TRANSPORT ECONOMICS AND STATISTICS
\?\


Statement No. M-125
JANUARY 18I


0


OL 1 L
On:



ci __


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

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

UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of January For the month of January For the month of January
1948 1947 1918 1947 1948 1947

1. Net railway operating income...............-.... --........... 41 297 149 (58 498 860\ $5 029 287 (14 557 538 (6 877 53 (6 807 828
2. Other income .... -----------...----- ---- 19 089249 16 336 981 9 495 676 8 1 48 883 337 768 00
3. Total income--..............-- ---. 60386398 74 835 841 1454 903 2 86901 7760873 9 575 258
4. Miscellaneous deductions from income...................... 3 845 208 3274 537 676284 662472 586140 364 122
5. Income available for fixed charges .........---. 56 541 190 71 561 304 13 848 619 22206 538 7 174 733 9 211 136
6. Fixed charges:
6-01. Rent for leased roads and equipment......... 9 762 079 10 372181 7 015 171 7 022 521 15 864 17 179
6-02. Interest deductions ................................ 24 345750 26351502 1065 401 10945 047 103 473 1062 661
6-03. Other deductions--.... ---.....--...... 145 25 137 591 59 688 36 848 2 229 2 082
6-04. Total fixed charges............-- .. 34 249 064 36 861 274 17708260 18 004 416 1 051 56 1 081 922
7. Income after fixed charges- ................... 22292 126 34700030 d 3 9 414202 122 6 123 167 8129 214
8. Other Deductions ........................................... ........ 584 665 2937 100 89 57 1 019 580
9. Net income.......................................1. .0..... ............. 18 707 461 31 762930 5 249214 5182 542 6 123 167 8 129 214 ,
10. Depreciation (Way and structures and Equipment)... 30 111 771 28886 238 12192 048 11 895 998 2207 82 2 142 613
11. Amortization of defense projects......------------1 368 598 1 366 007 465724 488 108 70 462 59 577
12. Federal income taxes-................ .. .-- ....... 23 863 324 23944 52 5433 397 4795 059 3 562604 4953 820
13. Dividend appropriations:
13-01. On common stock..-- .- .........----.. .....- 3 158 609 2902 627 20 000 20 0000 -
13-02. On preferred stock -.......---...... 2325748 25862 269 2315525 2572046- .
Ratio of income to fixed charges (Item 5+6-04) 1.65 1.9 0.78 1.238 6.82 8.51


SOUTHERN REGION WESTERN DISTRICT
SOUTHERN REGIONMI WETLLIONS NET INCOME-ALL CLASS I RAILWAYS uLLuo.s
Income Items For the month of January For the month of January7 OF DOLLARS OF DOLLA

1948 1947 19180 1907
1. Net railway operating income.-- ......... ..... (-10 567699 $10073 014 18 822687 $25 081 080 8-----
2. Other income............................... 1669 826 1943 822 7 040 410 5 293657
3. Total income.........................---- 12 237 525 1016 836 25863097 30374737
so s-------l----''o
4. Miscellaneous deductions from income......................... 46 71 60 9 16 113 1 617 574
5. Income available for fixed charges--....... 11 810 854 11 386 467 23706 984 28 757 16 A
6. Fixed charges:
6-01. Rent for leased roads and equipment .. ... 861 146 811 952 1 869 89 2 52029 40 --- 40
6-02. Interest deductions /-..........-- --................-.. 773 895 75 01 8 882 981 10 591 77
6-03. Other deductions.....---.............- ..-- 23582 23 371 77 736 75 90
6-04. Total fixed charges....--- .. 4 658 623 4 587 344 10 830 61 151875 92 o
7. Income after fixed charges.----- 7 152231 6799 12 12 876 369 15569571 -
8. -th r4.du tion al. fi- ed-- har-s--...............................--------------- -4429781001 15 51 97 55 1
8. Other Deductions................................................ .... 297 100 279 067 1 897 992 1 638 453
9. Net income..................................... ...... 855 1 1 6520 056 10 978 77 1 931 118
10. Depreciation (Way and structures and Equipment)... 4 002 427 3 677 757 11709 444 11 169 870
11. Amortization of defense projects-.....---- ------ 211 588 220431 620824 597 891
12. Federal income taxes --... ........................ ... 3 879 433 3754 830 10 987 890 10 441 425
-20- ------------ -o
13. Dividend appropriations:
13-01. On common stock ... ................... .. ..... 138 609 2 882 627
13-02. On preferred stock-..... ............ ... 10 228 10 225 -40 I I 1 1 1 I 1 I
Ratio of income to fixed charges (Item 5+6-04) ...2.5 2.4 J 2.19 2.18 1 946* 1NSFMMJ947 s 1948


UNITED STATES UNITED STATES
Selected Expenditure and Asset Items elected Llal ty Items AEALYXg OF NET INCOMB.-ALL CLASS I BIIL..YS
Balance at the end of January Balance at the end of Jauar
_194 197 194__ 197-
Reports showing Reports sholing
17. Expenditures (gross) for additions and betterments- Funded debt maturing within 6 months /. 12 14 01 9 145 6 Pio t Int
Road.........----................. ........ .....- 22360 43 4 15 623 377 40. Funded debt0maturing within 6 months .... $125 614 021189 14 6 Period Not IncomeNt De
18. Expenditures (gross) for additions and betterments- 1. Loans and bills payable / ---...----- ...... 4 035 00 9 745. 600 -Number Amount Number Amount
Equipment................................ ................. 63209091 32 117 008 2. Traffic and car-service alances-Cr... ... 92355 66 96 445 233
19. Investments in stocks, bonds, etc., other than those Audited accounts and wages payable ............9 -43 238 475 697 693
of affiliated companies (Total. Account 707) 5812180272 580209 1 Miscellaneous accounts payable ........................... 2594665 17 516 11 ar 1 767708 8
20. Other unadjusted debits.................................................................... 160 6 771 1 7 65 66 Interest matured unpaid.. ................ 47 076 2 5 270 07 Jan ry 1 7 96 519 6 1
1b Dividends matured unpaid----- -. 724-7331 735.51
21. Cash.......................... .......... 938 320 44 930845 61 -- -Unmatured interest accrued........75 5-7 -33 6e 401 15
22. Temporary cash investments................... 9-66 973 79 1047 340 90 Unmatured dividends declared.. 18d 578 571 19 795 78 _
2~ Special deposits................... 14346407 165 71 16 49. Accrued accounts payable 180 0388 162c68249 Excludes reports of roads whoe not income
1. Loans and bills receivable 12629717.36698.50................. Taxes a e 64 02 02 ................6 1 82 66 94 .. .. eors o rde o hoe nt nom.
2. Traffic and car-service balances-Dr ................. 929 125 46 021 71 51. Other current liabilities 110 126 50 98 401 (o) w absorbed by the controlng an.
26: Net balance receivable from agents and conductors_ 123 517 505 126 891 92
27 Miscellaneous accounts receivable ......... 330 478 674 91 691 67 2. Total current liabilities (items 41 to 1)...... 1 994 45 38 612 580 88 Period Number Exoluded
28. Materials and supplies ..... 779 875 851 674 33557 55
29. Interest and dividends receivable .--- ..-. 13 554828 13959 58 53. Analysis of taxes accrued:
30. Accrued accounts receivable. 174 271 198 175 98 007 53-01. U. S. Government taxes 570 518 496 320 573 20 January 1948
31. Other current assets 33 890 .05 57 163 72 53-02. Other than U. S. Government taxes 123 543 546 112 502 16 Janury 197
32. Total current assets (items 21 to 31)............ 3 569 90 41 550 308 84 4. Other unadjusted credits. 34 95911 36022255


d Decrease, deficit, or other reverse Item.
Represents aooruals, including the amount In default.
Excludes Missouri & Arkansas By. Co. eRoa Dot In operation.


2/ Includes payments of principal of long-term, debt (other than
long-term debt In default) which becomes due within six months
after close of month of report.
3/ Includes obligations which mature not more than one year after
date of issue.


1 7Apr'48









Subject to revision


UNIVERSITY OF FLORIDA

S1111111111111111111111111 illl 11111111111111II INTERSTATE COMMERCE COMMISSION
3 1262 08851 1695 BUREAU OF TRANSPORT ECONOMICS AND STATISTICS


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)


UNITED STATES


EASTERN DISTRICT


POCAHONTAS REGION


For the month of February For the two months of For the month of February For the two months of For the month of February For the two months of


_1948 1947 1948 1947 1948 19447


*d c



O
iL I L



z i


1. Net railway operating income...........
2. Other income ....... ...... ... .. --
3. Total income ....... --- ...-.
4. Miscellaneous deductions from income.--
5. Income available for fixed charges...
6. Fixed charges:
6-01. Rent for leased roads and equipment
6-02. Interest deductions / .... ---
6-03. Other deductions..................
6-04. Total fixed charges........
7. Income after fixed charges.........
8. Other Deductions
9. Net income... .
10. Depreciation (Way and structures and Equipma
11. Amortization of defense projects------..----.
12. Federal income taxes....

13. Dividend appropriations:
13-01. On common stock.. ....
13-02. On preferred stock ..........
Ratio of income to fixed charges (Item 5


$39 425 294
19 739 001
59 164 295
3 441 779
55 722 516
10 243 027
24 234 726
136 387
34 614 140
21 108 376
3 510 744
17 797 632
30 178 996
1 685 277
22 323 963

26 081 447
4 268 196
1.61


$43 820 930
16 036 514
59 857 444
3 044 522
56 812 922
10 487 013
26 129 612
136 456
36 753 081
20059 841
2 833 365
17 226 476
28 822 533
1 354 383
20 787 688


2764 928

1.55


(81 071 747
38 792 133
119 863 880
* 7 286 990
112 576 890
20 005 106
48 578 474
279 621
68 863 201
43 713 689
6 709 355
37 004 334
60 291 088
3 053 875
46 065 627

29 240 056
6 593 944
1.63


$102 319 791
32 373 496
134 693 287
6 319 057
128 374 230
20 859 193
52 481 116
274 048
73 614 357
54 759 873
5 687 221
49 072 652
57 708 771
2 720 390
44 732 220

22 303 898
5 347 197
1.74


$7 309 440
11 920 526
19 229 966
711 202
18 518 764

-6 875 881
10 542 399
38 520
17 456 800
1 061 964
1 351 866
a 289 902
12 098 628
462 496
6 198 508

871 478
467556
1.06


$4 889 952
9 215 686
14 105 638
757 545
13 348 093

6978 423
10944 975
36 254
17959 652
d 4 611 559
1 019 199
d 5 60 756

11 785 684
477 383
3 495 898

871 478
467 556
.74


1948

$12 687 970
21 380 085
34 068 055
1 387 487
32 680 568

13 891 051
21 195 801
78 208
35 165 060
d 2484 492
2 728 939
d 5 213 431

24 290 676
928 220
11 510 245

891478
2 783 081
.93


t19 427 49C
17 547 155
36 974 645
1 420 017
35 554 632
14 000 944
21 890 021
73 103
35 964 068
d 409 436
2 038 775
d 2448 215

23 681 682
965 491
8 290 957

891 478
3 039 602
..99


$5 764 902
807 036
6 571 938

526 837
6 045 101
13 765
1 027 607
2 229
1 043 601
5 001 500
5 001 500
2 212 182
69 908
3 019 446

10 856 559
172 991

5.79


$6 774 282
598 920
7 373 202

325 469
7 047 733
14 844
1 027 371
1 463
1 043 678
6 004 055
6 004 055
2 148 540
59 375
3 633 821

10041 011Oi

6.75


__________________________ h &4


Income Items


1. Net railway operating income ----
2. Other income...- -- -- -- ........
3. Total income..... ........ -- ... ....
4. Miscellaneous deductions from income .......
5. Income available for fixed charges.........
6. Fixed charges:
6-01. Rent for leased roads and equipment..........
6-02. Interest deductions 1/................. --
6-03. Other deductions....................
6-04. Total fixed charges........-.
7. Income after fixed charges..........- -
8. Other Deductions .....................
9. *Net income....... ....... ....
10. Depreciation (Way and structures and Equipment)
11. Amortization of defense projects .----------------
12. Federal income taxes.... .... ... .... .
13. Dividend appropriations:
13-01. On common stock ...............
13-02. On preferred stock..... ........... ...... .
Ratio of income to fixed charges (Item 5-6-04)


SOUTHERN REGION


WESTERN DISTRICT


For the month of February For the two months of fFor the month of February For the two months ol


$9 231 015
1 025 300
10 256 315
433 495
9 822 820
811 118
3 721 813
24 443
4 557 374
5 265 446
262 837
5 002 609

3 694 832
218 454
3 247 542


10 222
2.16


$21 162 834
2 562 461
23 725 295
783 652
22 941 643
1 711434
7 540 359
46 561
9 298 354
13 643 289
596 440
13 046 849

8 028 220
423 939
7 763 588

3 175 610
20445
2.47


$19 304 029
2 969 123
22 273152
1 063 864
21 209 288
1 623 070
7 473 834
47 814
9 144 718
12 064 570
541904
11 522 666

7 372 589
438 885
7 002 372

2 882 627
20 445
2.32


1 1948


015 755 817
6 118 804
21 874 621
1 846 760
20 027 861
2 503 093
8 898 255
72659
S11 474 007
8 553 854
1 659 062
6 894 792

11 842 393
940 522
9 221 854

14 316 409
3 617 427
1.75
d


$22925 681
5 196 608
28 122 289
1 528 013
26 594 276
2 682628
10 435 453
74 296
13 192 377
13 401 899
1 551 329
11 850 570

11 193 477
599 171
10 410 427

8 488 782
2 24.7 150
2.02


$34 578 505
13 159 214
47 737 719
4 002 874
43 734845
4 372 992
17 781 234
150 394
22 304 620
21 430225
3 383 976
18 046 249

23 552 158
1 561 346
20 209 744

14 316 409
3 617 427
1.96


IIIIf j II


Selected Expenditure and Asset Items


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
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.. .......
26. Net balance receivable from agents and conductors
27. Miscellaneous accounts receivable ...
28. Materials and supplies ...........------ ---- .
29. Interest and dividends receivable ..........
30. Accrued accounts receivable.
31. Other current assets

32. Total current assets (items 21 to 31)........


Seleoted Liabll ty Items


- *( -. I I*


$31,379,999
65,267,759

586,151,104
169,793,864


948,562,349
1,0 582,591
220,691
45,418,225
129 684,285
288,572,051
692,159,010
16,957,022
7170,689,3
57., ?4


3,530,119,603


40. Funded debt maturing within 6 months /_.


42.

l4.2
42.


49.
50.
51.
52.


Loans and bills payable ...............-- --
Traffic and car-service alances-Cr.............
Audited accounts and wagzs payable............-..--
Miscellaneous accounts p able....... --
Interest matured unpaid-_. .... .....
Dividends matured unpaid. ........... ...---
Unmatured interest accrdued.....
Unmatured dividends declared .......
Accrued accounts payable...
Taxes accrued .....
Other current liabilities ..
Total current liabilities (items 41 to 51)


53. Analysis of taxes accrue:
53-01. U. S. Government taxes
53-02. Other than U. S. Government taxes
54. Other unadjusted credits .


1947


$48 006 762
10 490 264
58 497 026
3 145 585
55 351 441
5 203 156
21 027 228
149 586
26 379970
28 971 471
3 106 538
25 864 933

22 363 347
1197 062
20 851 850

8 488 782
2 287 150
2.10


UNITED STATES

Balance at the end of February


$134,352.913


3,915,000
108,899,889
627,972, 1
20815


40,643,864
46


185,06,11
113.20.363


2.07Q.,46.o66


530,929,608
119,849,008
337,101,713


9,745,600
104,279,169
511,249,345
176860,2 5

77,,22: 3
39,898,252
157,901,876
19,212,932
99.293.461


308,396,268
110o i66641
353,706,623


$12 642 438
1 690 373
14 332 811

1 112 977
13 219 834

29 629
2 061 080
4 458
2 095 167
11 124 667
11 124 667
4 420 034
140 37C
6 582 05C

10 856 559
172 991
6.31


$15 581 510
1 366 950
16 948 460

689 591
16 258 869

32 023
2 090 033
3 545
2 125 601
14 133 268
14 133 268
4 291153
118 952
8 587 041

10 041 011

7.65


MILLIONS NET INCOME-ALL CLASS I RAILWAYS
OF DOLLARS


MILLIONS
OF DOLLARS


100 -- 1 100

80 60





40 A- A -40

o -------------- ------- 20
20 2-0--- --- ------ 0


0 C C-- 0 '''''''''''


r1PV


-4o 1 1 1 1 I I I I I II 1 1 1 1 1 1 1 1 1 1 1 1 1 I I -40
JF MAMJ J ASONDJ FMAMJ JASON D J FM&M JJASOND
1946 1947 1948


ANALYSIS OF NET INCOME-A.LL CLASS I RAILWAYS


Reports showing
Net Inoome
Number Amount


Reports showing
Net Deficit
Number Amount


February 1948 81 $3 4,00,531 42 $16,202,899
February 1947 83 32,26,334 40 15,599,85
2 months 19 85 71,423,869 38 34419,535
2 months197 85 72,150,430 38 23,077,778


Excludes reports of roads whose net income
(or defioit) was absorbed by the controlling company.

Period Number Exoluded

February 194 4
February 1947 4
2 months 1948 4
2 months 1947 4


d Decrease, deficit, or other reverse item.
y Represents accruals, including the amount in default.
SExcludes Missouri & Arkansas Ry. Co. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt In default) which becomes due within six months
after close of month of report.
3/ Includes obligations which mature not more than one year after
date of issue.


Statement No. M-125
FEBRUARY 198


Income Items


2Jun'48


ent) ....






+6-04)


$10 595 135
892 635
11 487 770
356 980
11 130 790
850 288
3 766 465
22 979
4 639 732
6 491 058
299 816
6 191 242

4 025 793
212 351
3 884 155

37 001
10 222
2.40


UNITED STATES

Balanoe at the end of February


$37,600,387
126,858,875

564,947,205
166,320,64o


936,724,106
981,92 ,950
127,2617,33
12,62 ,511
524,30O
33,e ,393
9 7,505
lbli4,782
173,28,512
35,24j,226


3,606.399.673


-r


-t


-t


i


i


-r


-T


-r


-r


-T


-r


- ----~----


"---


-r


I


-r-


T I .. f f


1 652 361 36g


---- -- ---- -- - .- : -- ------


- 1 0 I I - i I I I I I -


1-1 1 i -


,4-


I I I I I I I I I I I


I -








Subject to revision


UNIVERSITY OF FLORIDA

111IIllUll IIIH IIlH1IIfIIIIIII IIIIIlI IIII 11Too lS o
1262 08851 288 INTERSTATE COME CE COMMISSION
SBURAU OP TRANSPORT ONOMICS AND STATISTICS


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)

UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items For the month of December For the twelvemonth of For the month of December For the twelve months of For the month of December Por the twelve months of
1948 1947 1948 1947 1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income........ .................. 64 661 934 $76669 096 1002 352 317 $780 438 282 421306092 $17690 120 3534 797 565 215 803194 $5 31091 9 6094 416 95 080795 $88 622 971
2. Other income..........--------- ..... 38 696 341 46 859 852 235 090 11 229 320 569 14 938 603 26 825 877 103 985216 108 676 004 2361198 1 479 670 10469 525 9534249
3. Total income.....................-------- 103 358 275 123 528 946 1237 442 4301 009 75d851 36 244,695 44515997 458782781 324 479198 7672117 7574.286 105570320 98157-220
4. Miscellaneous deductions from income....---... .. 5 919 013 5963 658 64 835 80 45 017 227 1187 113 513 743 18 126 106 7 703248 1 758 848 477 380 13 850474 5 011 391
5. Income available for fixed charges................- 97 439 262 117 565 290 1172 606 630 964 741624 35 057 582 44 002 254 420 656 675 316 775950 5 913 269 7 096 906 91719 846 93145829
6. Fixed charges:
6-01. Rent for leased roads and equipment............. 9 635435 10926 432 130 170 508 123212 470 7 224 902 7 403 977 85 475 827 85 627 218 14 081 13 815 176048 176 257
6-02. Interest deductions /.............................. 23 853 506 25 864 144 290757 352 310067488 9 833 661 9975 455 127 168 953 129 382 747 1209287 1038 328 13097740 12 b14 350
6-03. Other deductions............................. 528 500 391 495 2 305 075 2067453 251 153 144 759 789284 690168 10 319 22 240 48686 40527
6-04. Total fixed charges--....----....--------- -. 34 017 441 37 182 071 423 232 935 435 347 411 17 309 716 17 524 191 213 434064 215 70013 1233 687 1 074 383 13 322474 12731134
7. Income after fixed charges....- ....---..---.........- 63 421 821 80383 219 749 373 695 529 394213 17 747 866 26 478 063 207 222 611 101075 817 4 679 582 6 022 523 78 397 372 80414 695
8. Other Deductions ........... .. . 13 531 824 7 600554 49 361 186 39 023 203 11167180 5 889 128 26 294426 17 808 357 -
9. Net income .. ............... .. 49 889 997 72 782 665 700 012 509 490 371 010 6 580 686 20588 935 180 928 185 83 267 460 4 679 582 6 022 523 78 397 372 80 414 695
10. Depreciation (Way and structures and Equipment).... 32 848 365 29 654 285 375 617 262 352759 659 13282781 11717921 151 857998 144173 505 2457901 2203572 27 774256 26045976
11. Amortiation of defense projects ...--- ------.... .... 1158 622 1 420 890 16 568 904 16 208 433 471 163 464 233 5572 722 5 602 763 72605 72 344 863 127 812 619
12. Federal income taxes..................-...--------- .- 33 649 024 23908 620 448 300724 297 676 399 6 959 535 d 3 991 754 117 987 407 48 412 501 4 691 096 3 557 661 52 568 646 47793 281
13. Dividend appropriations:
13-01. On common stock........ ........... ............ 28 854 228 20 496 866 219 761709 181706 350 6 780 363 7 162 818 51 021 601 31 547906 723 408 723 408 50 100 598 52 275 205
13-02. On preferred stock.................... ...... 10 256 958 9 105 346 69244804 54759213 4 219 971 1 701 213 15 178 817 11 241 073 235 109 235 108 3 264100 3 231277
Ratio of income to fixed charges (Item 5-6-04) .. 2.86 3.16 2.77 2.22 2.03 2.51 1.97 1.47 4.79 6.61 6.88 7.32

SOUTHERN REGION WESTERN DISTRICT NT ICM A CA RAIL
_____________________ _______ _,_ MILLIONS NET INCOME-ALL CLASS I RAILWAYS MILLIONS
OF OOLLARS OF DOLLARS
Income Items For the month of December For the twelve months of For the month of December For the twelve months of 00 10

1948 1947 1948 1947 1948 1947 1948 1947

1. Net railway operating income..-.................-----... ..... 12 364 335 $14 854 677 138 971 103 $103 771 466 25 680 588 38 029 883 433 502 854 (372 240 651 o
2. Other income..........-- _- ----.....................---- 2 768 694 2 830 649 19 817 720 20504277 18 627 846 15 723 256 100 797 652 90606 039
3. Total income...----------- 15 133 029 17 685 526 158 788 823 124 275743 44 308 434 53753 139 534 300 506 462 846 690
0O ----- 60
4. Miscellaneous deductions from income................ 33 045 605 871 6 236 308 5 583750 2640 007 4 366 664 26 622 912 26 718 838
5. Income available for fixed charges ....---.... ..... 14 799 964 17 079 655 152 552 515 118 691993 41 668 427 49 386 475 507 677 594 436 127 852
6. Fixed charges:IE
6-01. Rent for leased roads and equipment............... 905 652 1 384 757 10 348 111 10753912 1 490 800 2123 683 34 170 522 26 655 083 40
6-02. Interest deductions1/..... ........---------. 3645148 3782789 41750458 45204211 9165410 11067572 108740201 122966180
6-03. Other deductions................ ............. 123 266 112 039 401 311 377 391 143 762 112 457 1 065 794 959 367
6-04. Total fixed charges ................ 4 674 066 5 279 585 52 499 880 56 335 514 10 799 972 13 303 912 143 976 517 150580630 __
7. Income after fixed charges..................... ...-- 10125 918 11800070 100052 635 62356479 30 868 455 36 082 563 363701 077 285 547222---
8. Other Deductions ....................... .....----.......... -. 882251 259 544 3 910492 3715095 1482 393 1 451882 19156268 17499 751
9. Net eincome- ............ ...... ...... ....-.9 243 667 11540 526 96 142 143 58 641 384 29 386 062 34 630 681 44 544809 268 047 471

10. Depreciation (Way and structures and Equipment).... 4 380 898 4 031 956 49 644 797 46 056 373 12 726 785 11700 836 146 340209 136 483 805
11. Amortization of defense proJects..-------------------- 216 104 212 184 .2 547 083 2594 997 398 750 672 129 7 585 972 7197 854
12. Federal income taxes.. 6 377153 3 250913 61 347 214 37 246 685 15 621 240 21 091 600 216 397457 164 223 732 -- -
13. 01. On common stock ..... ...... 6 519 418 4 383 218 24 550774 19 821898 14 831 039 8 227 422 94 088 736 78 061341
13-02. On preferred stock....................... 2 260223 2968 818 6 957205 5737182 3 541655 4 200207 43 844682 34549681 -40 -40
Ratio of income to fixed charges (Item 5-6-04) 3.17 3.24 2.91 2.11 3.86 3.71 3.53 2.90 1946 1947 1948


UNITED STATES UNITED STATES
Seleote txpenditure and& Aiet Iteme -l-oted Liability Items AI~ALZrI OF NET INCOAM--ALL CLAs I IRAILWAYS
Balance at the end of December Balance at the end of December
1948 1947 1918 217. ------ .hom.
Report showing Reports showing
17. Expenditures grossp for additions and betterments- 40. Funded debt maturing within 6 months 2/_.. ....... 198,549,63 $126,525,769 Period Net Income Net Deficit
Road.... .............. ............................. $3 ,928,638 $289,572,777
18. Expenditures (gross) for additions and betterments- 41. Loans and bills payable .................. ..... 5,000 Muber Aaount Number Amount-
Equipment ........ ............... ....... ... 9a20,940,908 571,269,504 42. Traffic and car-service balances-Cr. .........7,26, 0 79,0514
19. Investments in stocks, bonds, etc.. other than those Audited accounts and wages payable..................... 504,2,28 51276,017 December 1948 94 65,6,889 29 $156,2
of affiliated companies (Total, Account 707)......... 518,496,172 ,80,8 4. Miscellaneous accounts payable................... 233,7,9 233,478,809 December 197 98 600 25 58
g2 ?--- 2 3,December 194,7 5 1,600 25 7 8,9 5
20. Other unadjusted debits. ...... .. 123,018,294 ,833 81 4i. Interest matured unpaid.... 54...11,.8 7,369,312 12 months 1948 103 731,72,733 1 31760,224
S. Dividends matured unpaid ..-....................................... 25,476,84 6,56 12 month 197 92 532,688,049 31 2,317,039
21. Cash...... ..............,................-.....-... ....... 900662,8 1 61 47 Unmatured interest accrued................. ...........-..........7.. 804 6 4,49,708
22. Temporary cash investments................ 1,046,38 3,2 96 96,127,9 g. Unatured dividends declared- ....... ... 2,678 20,430,086
2 S peci a l de p os its .......................... .......... .. ...... ---- -------- u eo120
3. Special depo. 13 0 49. Accrued accounts payable 8....................... le report of .oas .hose net incom
24. Loans and bills receivable...................................... 6, 126921 50 Taxes accrued ................. 7 9 638.63,658 Exclude report of roa .who nt Income
25. Traffic and car-service balances-Dr.. .. 55 ,27;330 87.275 51. Other current liabilities -27 97,543,266 (or deficit) was absorbed by the controlling company.
25. Net balance receivable from agents and conductors 122,612578 1,908,571 51. Other c t l s
27. Miscellaneous accounts receivable ..346... .. 0 330 3,-5,33 q5. Total current liabilities (items 41 to 51) 2,065,928,122 1,950,763,583 Perica Number Excluded
28. Materials and supplies.. ... 85A 1 2? 757,9 0,501 Decbr 194 1
29. Interest and dividends receivable .. ......... .. 1,19- 66 1,060114 53. Analysis of taxes accrued: December 1948 4
30. Accrued accounts receivable. 165 14 19S,08,464 53-01. U. S. Government taxes 627911 521,287,983 December 1947 4
31. Other current assets 8,775,193 9,492,544 53-02. Other than U. S. Government taxes 12,97,5 1175, 12 months 1948
2 Total5urren s ( s 21 to )7,06,4. Other unadjusted credits ... 276,158.563 335,807,755 12 month 1947
32. Total current Assets (items 21 to 31) 3,675.,819,385 3,579,016,902 5.Ohrndutdceis.


d Decrease, deficit, or other reverse item.
/ Represents acruals, including the amount In default.
I Excludes Missouri & Arkansas Ry. Co. Road not in operation.


2/ Includes payments of principal of long-term debt (other than
long-term debt in default) which beoomes due within six months
after close of month of report.
I/ Includes obligation which mature not more than one year after
date of issue.


Statement No. M-125
DECEMBER 1948


I If


1





UNIVERSITY OF FLORIDA -2 / 9

11111111 11111 11 D IBII INTERSTATE COMM ERCE COMMISSION
3 1262 08851 3113 BUREAU OF TRANSPORT B350NOMiCS AND STATISTICS


Subject to revision


Statement No. M-125
OCTOBER 1948


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)

UNITED STATES EASTERN DISTRICT POCAHONTAS REGION
Income Items or the month of October For the ten months of For the month of October For the ten months of For the month of October For the ten months of
1949 197_ 1948 197 194 19477 114 99 1947 1948 1947 1948 1947
1. Net railway operating income............. ................. 110 876 856 $76 879 445 $853 624 670 636 732 694 539 570 54.0 $19 666 3668 85 244 872 177 565 206 $9 797 326 68 226 193 $82 788 240 $75 383 729
2. Other income..-------....................... 17557 533 16 912 916 175 943 284 160 408911 7 939 976 8 073864 78 277 918 70834054 824395 729 33 7 184 334 7163143
3. Total income-..- .. ----......... .....1. 8 434 389 93 792 361 029 567 954 797141605 47 510 516 27740230 363 522 790 248 399 260 10621 721 8955 52 89 972 574 82 546 872
4. Miscellaneous deductions from income....................-...-- 4 667 608 3998 301 54 048 896 35 713 402 535437 642 747 16 228938 6 647118 1 603915 517 482 10493 851 4 065 769
5. Income available for fixed charges.................... 123 766 781 89794 060 975 519 058 761 428 203 46 975079 27 097 485 347 293 852 241 752 142 9 017 806 8 438 041 79478723 78 481 103
6. Fixed charges:
6-01. Rent for leased roads and equipment..--...- 10713 916 11144 760 110 068 820 103 014 267 7122083 7480700 71143983 71 239 381 13812 13932 147 200 149 406
6-02. Interest deductions /........-- ..-......... 25 192 301 25 314 725 242698 148 258 886 887 11 260946 10551 117 106 764327 108 902 904 1 115594 1 036 728 10752872 10433981
6-03. Other deductions.. --...................... 187 043 164 692 1 55 070 1510760 65 625 61 593 465 564 485 526 9 814 2 258 34 934 16 824
6-04. Total fixed charges..... ... 36 093 260 36 624 177 354 322 08 363 411914 18 448 654 18 093 410 178 37 874 180 627 811 139 220 1 052 91 10 935 006 10600211
7. Income after fixed charges........................ 87 673 521 53 169 883 621.197 020 398 016289 28 526 425 9 004 073 168 919 978 61124 331 7 878 586 7 385 123 68 543 717 67 880 892
8. Other Deductions............................................... 3 187 845 3 134 447 32 150 757 28 324 553 1 420 936 1 335 506 13 764 067 10 542 413
9. Net income....................................................... ....... .------- 84 485 676 50 035 436 589 046 263 369 691 736 27 105 489 7 668 567 155 155 911 50 581 918 7 878 586 7 385 123 68 543 717 67 880 892
10. Depreciation (Way and structures and Equipment)...... 32 230 493 29341716 310492290 293 188 865 13 031 689 12 047 582 125 529 381 120 328 006 2 392 468 2 181 159 22 893 753 21 659 035
11. Amortiation of defense projects-..--- --------.... 1 390 787 1 355 739 14 013 716 13520219 467 114 442 910 4 628 086 4 687 421 69588 98 546 703 709 658 171
12. Federal income taxes...................... 51 354 567 32706 44 373 313 452 249249 029 12141913 5 644 118 99 656 019 47257792 5 390 830 4380576 43587912 40340191
13. Dividend appropriations:
13-01. On common stock.................... 13 092 354 12 551 813 137 945 520 113 559 382 1 005 000 972 000 23 575 082 14 672 127 5 862 822 38 750 030 35 069 314
13-02. On preferred stock ............. 923 451 7 915 305 52 134 672 37 033 843 298 913 298 503 8 119 869 7 337 366 392 895 219 904 3 028 975 2 823105
Ratio of income to fixed charges (Item 5+6-04).. 3.43 2.45 2.75 2.10 2.55 1.50 1.95 1.34 7.92 8.01 7.27 7.40

SOUTHERN REGION WESTERN DISTRICT
__ ___________ILLIONS NET INCOME-ALL CLASS I RAILWAYS MIuLLoNs
Income Items For the month of October For the ten months of Tor the month of Ootober For the ten months of i00o 100
_________ 1948 1947 1948 1947 1948 1947 194 1947
1. Net railway operating income -.......1..-------.. 1 ..083 062 67 845 487 $115 789 277 (280552 569 50425 928 $41 141 399 $369 802 281 6303 231 190 so0 0
2. Other income ...................................... 1978396 1727447 15 795728 16 614 880 6 814 766 6 382 275 74 685 304 65796834
3. Total income.........................--......--- -----.... .... 13061458 9572934 131585005 97 167 449 57 240 694 47 523 674 444 487585 369 028 024
4. Miscellaneous deductions from income--............... 525 332 452 133 5332991 4 499838 2002 924 2 385 939 21 993 116 20500 677
5. Income available for fixed charges.................... 12 536 126 9 120 801 126 252 014 92 667 611 55 237 770 45 137 735 422 494469 348 527 347
6. Fixed charges:
6-01. Rent for leased roads and equipment............ 819 485 835 664 8 648 573 8 530573 2 758 536 2 814 464 30 129 064 23094907 40 0-- -- 4
6-02. Interest deductions l/........ ......... 3554 396 3 761027 34 575436 37 675471 9 261 365 9 965 853 90 605 513 101 874 531
6-03. Other deductions ..... .25 872 235 55 250 284 239 413 85 732 77 286 804288 768 997
6-04. Total fixed charges........................... 4 399 753 4 620 246 43'474 293 46 445 457 12 105 633 12 857 603 121 538865 125 738 435
7. Income after fixed charges -...---...... 8136373 4500555 82777721 46222154 43132137 32280 132 300955604 222788912 80- -----1-2------*--- -------- 0 to
8. Other Deductions ............. ...... ......... 274571 305 148 2 759 035 3146 661 1492 338 1 493 793 15 627 655 14 635 479
9. Net income ........ n .- -. .. ............... .................... ...... 7 861 802 4 95 407 80018 686 43 075 493. 41 639 799 30 786 339 285 327 949 208 153 433
10. Depreciation (Way and structures and Equipment)._.- 4 208 880 3 907 505 41 042 625 38 075 072 12 597 456 11 205 470 121 026 531 113 128 752 --
11. Amortization of defense projects.........--.....--... 211 989 208 716 2 119 188 2 170 813 642 096 605 567 6 562 733 6 003 814
12. Federal income taxes................................. 5 396 997 3 095 735 50 807 290 30 929 684 28 424 827 19 586 415 179 262 231 130 721 362
*110 -f- -- -- ----------- -------- -- o
13. Dividend appropriations:
13-01. On common stock........... ......... .. .... 3 617 432 2967 263 15 531949 13 623 380 2 607 100 8 612 550 60 088459 50194561
13-02. On preferred stock........................... 760 223 760 223 4 416332 2 180 321 8471 420 6636 675 36569496 24 693 051 40
Ratio of income to fixed charges (Item 5+6-04).... 2.85 1.97 2.90 2.00 4.56 3.51 3.49 2.77 1 "946 ODJ 1947 soor u194 o


UNITED STATES UNITED STATES
Seleoted expenditure and Asset Items le ed o O Selected Liablity Items ANBALiYS OF NET IICOOB-.-ALL CIASS I RAILVAIS
Balance St the end of October Balanoe at the end of October
1948 1947 _1948 1947
Reports showing Reports showing
17. Expenditures (gross) for additions and betterments-
17. Expenditures ( ) fr dons a b rt- 276,045,776 2 ,286,042 10. Funded debt maturing within 6 months /........................ 152,053,772 (86,083,904 Period Net Inoom Net Defioit
18. Expenditures (gross) for additions and betterments- 0 41. Loans and bills payable -... .... 000,00 000 Number Aount Number Aount
Equipment ....................................................................... ............... 720,939,695 25,0 6,701 and s b e....................... ,9
e42. Traffic and car-sertice. balances-Cr ........................J..,2 2
19. Investments in stocks, bonds, etc., other than those 43.Audited accounts and wagas payables-Cr...-......--....... ... 12 ?2 october 103 704,11 20
of affiliated companies (Total, Account 707)..... 5'3,2 ,0 44. Miscellaneous accountsgs payable..... :2 174 4 3, Ootober 19 92 ?31 4 42
AudMiscellaneous accounts payable............................ 66,707 2,
20. Other unadjusted debit ................................................ 1 977 6 Interest matured unpaid... .... ........- -- --...... 31 10 month 19 102 21 3 65
Dividends matured unpaid...................................10 month147 91 t o 32 4 0
21. Cash................. 47. Unmatured interest accru--................12,.- 5,a2-- 6a,9 :---S
22. Temporary cash investments.... ................. ............... .L 4 4 aUnmatured dividends declared........ .................. ..... ..
24. Loans and bills receivable-..-- ....... 2 7 50. axesaccrued ..... a ..................Ex..........ludes reports of roads whose net income
Special andeposits......v................ ........... U49. Accrued aoruntspayable..................................11 (or 36tort) mi absoroe
22 : Traffic an d oar-serv ic e ba ian oes- D r- ..........................-----------
25. Traffic and car-service balances-Dr cou-- 4' 51. Other current liabilitie ................................. 9,991578 109,61141 (or dfiolt) was absorbed by the controlling company.
26. Net balance receivable from agents and conductors-.. 1, '.
27. Miscellaneous accounts receivable....... ......2271 743898 4 a. Total current liabilities (items 41 to 51) .... 2,170,395156 1,944,909,806 Period Number Exoluded
28. Materials and supplies..... ........................
29. Interest and dividends receivable........................... 2 53. Analysis of taxes accrue: October 944
30. Accrued accounts receivable.............. 1... 615 53-01. U. S. Government taxes.................... 616,069, 22 50602622 October 147 4
31. Other current assets................ .............. 53-02. Other than U. S. Government taxes...... ........ 15,221, 81 i7202,I14 10 months 1 9 4
32. Total current assets (items 21 to 31)............. 3,79,707,507 3,641,730,311 54. Other unadjusted credits:....................... ........... 6,626 32298710 months 197


d Deoreacs, defloit, or other reverse item.
V Represents aooruals, including the amount in default.
SExcludes Missouri & Arkansas Ry. Co. Road not in operation.


/ Includes payments of principal of long-term debt (other than
long-term debt In default) whloh beoomes due within lix months
after lose of month of report.
y Includes obligations which mature not more than one year after
date of issue.


I


Ij ~__/__