Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-26
A GREAT TASK AHEAD
ACCOUNTING SYSTEM MUST BE
PREPARED FOR RAILWAYS.
One of the Duties Imposed on the In
terstate Commission by the
New Rate Law.

One of the most serious problems that the
Interstate commission will have to deal
with under the new rate law will be the
outlining for all the railroads of the coun-
try of uniform system of accounts. This
may sound short and simple, but when 1t
IS realized that the commission must form
ulate one system of bookkeeping for all of
the railroads In the country. thing for
which each road has always reserved a
whole department 1t is seen that the task
is enormous. The statistician of the COM
mission will have a number of meetings
with the representatives of the Railroad
Accountants Association and the problem
will gradually be worked out. But the law
is specific in it's statement that the books
of the roads shall be kept In accordance
with the forms that the commission die
tates and that no other books shall be kept.
The specific provision says:
Provision of the Law.
1.-THE commission may, in it's discretion.
prescribe the forms of any and. all &C.
counts. records and memoranda to be kept
by carriers subject to the provisions of this
act. including the accounts records and
memoranda of the movement of traffic as
well as the receipts and expenditures of
moneys The commission shall at all times
have access to all accounts, records and
memoranda kept by carriers subject to
this act and 1t shall be unlawful for such
carriers to keep any other accounts, rec
ords or memoranda than those prescribed
oc approved by the commission. and II may
employ special agents examiners, who
shall have authority under the order of the
commission to inspect and examine any
and all accounts, records and memoranda
kept by such carriers. This provision shall
apply to receivers of carriers and operating
trustees.
The act is merely permissive, but the
commission intends to exercise its power
and there will be fully six months of hard
work ahead before the forms of the railroad
accounts are all agreed to.
The railroads have already followed the
example of the express companies in claim
ing that ii will be physically impossible for
them to file with the commission all their
rates. tariffs and the other data demanded
inside the time allowed by law, and 1t is
possible that the time may be extended.
Railway Reports.
The new law is equally specific as to the
reports that the railroads must render an
nually to the commission and the penalties
fo- delay in complying with the rule. For
tunately however. the form of annual re-
port has already been perfected and it is
questionable whether any changes of mo-
ment will be made in it.
The report Is Quarto volume of eighty
fivs pages and contains about all the in
formation that any road could be expected
10 furnish. 1t covers the property owned,
the property leased or otherwise held. the
operating expenses the mileage. stocks
owned, rentals for all sorts of property,
contracts and agreements, freight move
ment. accidents equipment and renewals
and a host of other details. 1t Is interest
ing to see that the form of this report prac-
tically without change, has been adopted by
all the states and territories having rail-
road commissions and nearly all states
have such commissions. so that there is
now almost a uniform system of railroad
reporting all over the United States.