The Birmingham age-herald., 1904-11-17
RAILROAD COMMISSIONERS HEAR
 AND DISCUSS NUMBER OF REPORTS
tcontInued from EI1.h Page,


 -----------~~~->~-------~ aggregates for the country as a whole and aggregates for each state.
 In order that these aggregates may be accurate, the figures relating to indi- vidual systems must be accurate. It makes little difference for the purposes of this investigation whether the aggre- gate sum of railway values in the United States is one. five ten thousand mil lions of dollars greater or less, and whether a few millions. more or less, are assigned to one or some other state. What is aimed at Is the greatest accu- racy possible that can be achieved with available data and under existing condi- tions. This Investigation is conducted on the assumption that there may exist diff ferences In the method of valuation, as the purposes for which the valuations are made differ.
 The purpose of this valuation is to measure the railway wealth of the coun- try devoted to operation and to distribute this wealth among the several states. Problems of taxation. rates and public policy lie outside of this scope. Further more, a full explanation and criticism of the methods employed and the results obtained will be published a part of the report. so that the figures, whatever they may finally be, may be construed in their true light
 J. N Mckenzie. railroad commissioner of Tennessee, followed with an interesting paper on the subject discussed In the paper read by Professor Meyer. MT. Me- lSenzie referred more directly to valua- tons of railroad properties in his state.
 Visit to Montgomery.
 Virgil c. Griffin, secretary of the Ala hama railroad commission, announced that he has just received a telegram from Montgomery. giving the plans for the re- ception of the entire party at that point. The party will leave Birmingham this af- ternoon about ? o'clock in their special train over the Louisville and Nashville railroad and are due to arrive in Mont gomery about o'clock They will then proceed to the capitol, where they will he received by Governor Cunningham in the house of representatives. The governor will make an address
 The Commercial and Industrial league of Montgomery will give a reception to the members of the party fIom 8 D. m. to II D. m. The party will leave Montgomery about 11:3O o'clock
 Committee on Statistics.
 H. c. Adams statistician of the inter- state commerce commission, read the re- port of the committee on ranroad statis- ties It was In part
 At the meeting of your committee held November g. 1904, 1t avs voted to recom- mend to the National Association of Rail way Commissioners the adoption of the suggestions of the executive committee of the Association of American Railway Ac- counting Officers as an expression of it's views upon these subjects and to recom- mend further that the blank forms of annual reports be modified to conform to these suggestions.
 The usefulness of statistics of railway operations at the present time is seriously impaired by the fact that the carriers do not adopt a uniform definition of i'm provements, betterments and additions nor do they follow uniform rule in pass ing expenditures for these purposes through their accounts. The difficulties of interpretation and comparison arising from this source have increased rather than diminished during the past five years. In view of the importance of a correct and uniform determination of net earnings, it appears to your committee that some steps should be taken to draw clearly the line between operating ex- penses and Improvements. This question was discussed at a meeting of your com