The morning journal-courier., 1908-03-24
RAILROAD REPORT PROVES SURPRISE Figures Filed by Every Road With Commerce Commis- sion Show Astonishing
 Prosperity. SUFFERED LITTLE BY PANIC Only Eastern and Southern Lines Hampered by Financial Depres-
 sion, and Conditions m-
 proving Fast.
SUFFERED LITTLE BY PANIC

Washington, D. C., March 23.-Ev- cry indication points to an improve ment generally in the railroad and in- dustrial situation of the country ac- cording to reports made by the great railway systems of America to the In- terstate Commerce Commission. These reports are to the effect that, while the railroads suffered to some extent by what has come to be re- ferred to as the October panic" the loss was by no means so serious as generally has been supposed
 It appears from the reports that the effect was felt particularly by the eastern lines and by the lines in the southeastern part of the country, a few of which were embarrassed not only by falling off of revenues, but by their inability to obtain ready cash with which to carry on improvements which they had begun while the west ern lines and the rans-continental roads have not suffered materially from the financial depression. The figures available to the Interstate Commerce Commission indicate also
 that the general condition in the country improving materially, with prospect that it soon will be normal or better.
 Franklin K. Lane, Pacific Coast member of the International Com merce Commission, has made a care full analysis of the figures submitted l by the railroads themselves to the commission. MT. Lane was asked what loss the railroads of America had sustained from the October pan ic." He replied that the railroad sit
 uation the country over is not i'm
 minently serious one at the present | time
 There are no figures accessible by WI ch a definite answer to your ques- l tlol can be given continued Com missioner Lane. From the figures a,s liable to the commission. however, it does not appear that, taking the
 country as a while, the revenues of tn, railroads have fallen of to the extent that generally Is believed. The 1 Interstate Commerce Commission now
 calls upon the carriers subject to the act to regulate commerce for month 1 ly reports of their revenues and oper-
 ating expenses. Such reports began
 with the month of July last, and l 1 have the figures compiled by Prof. 1 Henry C. Adams. our statistician, as to
 a number of systems which may be taken as representative of the rail-
 road systems of the entire country. These system are: New York, New Haven and Hartford; New York Cen tral, Baltimore and Ohio; Pennsyl-
 vania, east and west of Pittsburg; Southern Railway; Louisville and
 Nashville; Rock Island; Atchison,
 Topeka and Santa Fe; Chicago, Mill
 waukee and St Paul; Northwestern,
 Southern Pacific; Great Northern; Northern Pacific.
 During the three months, July, Au-
 gust and September the total operat-
 ing revenues of these roads amounted
 to s399,00000o: for the panic months
 of october, November and December
 the total revenue was s376, 900, 900
 The freight revenues of the system
 named were for the first quarter
 s264, 100000 and for the second
 quarter, S259,0o0,000
 The freight revenues for November
 were larger than those for July ol September.
 These systems during the last si'
 months of 1907 received from passen ger and freight revenues a grand to- l tai of s775,000.00O, which is S54, o00.0 more than they received fol
 the same period in the preceding l year, 1906; and their net income iron operation in 1907 was S14,OO0.O0' : more than in 1906l These figures } certainly do not indicate that, eithe owing to legislation or the panic, th' ! railroads of the country as a wholt } have been put in financial jeopardy } It is true that during 907 there wa! ? great increase in operating expense r owing to general increases in wages bul, dlloNibs loi SuNi ihti So''N' VI" 5 larger volume of traffic and greate l revenue derived therefrom yielded } larger net return to the railroads.
 "A study of these figures shows tha 3 the panic, so far as it affected tn l railroads. extended but slightly be f yond Chicago towards the west. l l we take the transcontnental road : reaching to the Pacific coast, we fin I that every one of them increased it | gross operating revenues during tn . last half of the year 19O7.
 Beginning with the Great Northeri f which is near the Canadian border T and coming down the Pacific coas Q to the Mexican border. thus includ I ing the Northern Pacific, the Souther Q Pacific and the Santa Fe system. eac s one increased it's total operating rev :. enues in the last half ef 1907 owe T those revenues for the last half c [ 1906, while the net income was i some cases increased and in other T slightly decreased, the net incom Q from operation in each uf these line n being Santa Fe S13.000. .00G. North s ern Pacific S1S,000.0 Great North = ern S13.00O, 900 and Southern Pacifi
 s41. 100000 for the six months. Tat
 ing freight revenues alone, the Sant
 Fe system. for instance. shows large r freight revenues In December than n July or September; and the Souther | Fr-1s