, 1908-03-24

piled by statistician of 6ody-Rail-
roads Generally More Optimistic
and Expect Return of Business.
Washington. d. c., March 24.-Eye.y
Indication points to an improvement
generally in the railroad and industrial
.ituation of the country, according TO
rsnorts made by the great railway sys-
toms of America to the interstate COM
marce commission. These reports are
IN the effect that, while the railroads
suffered to some extent by what mas
come to be referred to as the October
manic" the loss was by no means so
serious as generally has been supposed.
Scarcity Of Ready Cash.
1t appears from the reports that the
effect was felt particularly by the east
ern lines and by the lines in the south
eastern part of the country, a few OF
which we're embarrassed, not only by
a falling off of revenues, but by their
inability to obtain ready cash with
which they had begun while the west
ern lines and the trans-continental
roads have not suffered materially
from the financial depression. The fig
ures available to the interstate COM
merce commission indicate also that
the general condition in the country Is
improving materially, with a prospect
that it soon will be normal or better.
Not Serious Situation.
Franklin X. Lane, Pacific coast men,
Der of the interstate commerce COM
mission has made a careful analysts
Of the figures submitted by the rail
roads themselves to the commission.
Mr.. Lane Was asked what loss the rail-
roads of America had SUSTAINED from
the october panic" He replied that
the railroad situation of the country
over is not imminently a serious n
at the present time.
No Great Decrease in Revenues.
There are no figures accessible by
which a definite answer to your ques-
ton can be given" continued Commits
sioner Lane. From the figures avail
able to the commission, however, 1t
does not appear that, taking the coun-
try as a whole, the revenues Of the
railroads have fallen off to the extent
that generally is believed. The in
terstate commerce commission now
calls upon the carriers subject to the
act to regulate commerce for monthly
reports Of their and operat-
ing expenses. Such reports began with
the month of July last, and | have the
figures compiled by Prof. Henry c.
Adams, our statistician, as to a num-
Der of systems which may be taken as
representative of the railroad systems
Of the entire country.
Some Of the Systems.
These systems are:
ford.
New York Central.
Baltimore and Ohio.
Pennsylvania, east and west Of
Pittsburg.
Southern Railway.
Louisville and Nashville.
Rock Island.
"Atchison, Topeka and Santa Fe.
Chicago, Milwaukee and st. Paul.
Northwestern.
southern Pacific.
Great Northern.
Northern Pacific.
Total Operating Revenues.
During the three months, July, Au-
gust and September, the total operat-
ing revenues of these roads amounted
u 1888 1000 900; for the panic months
VI october, November and December
lne Total revenue was $376, 900, 900.
Inc freight revenues of the systems
named We're, for the first quarter, 1894
vVV,VOO, and for the second quarter,
Sz'o'OOO,O00. The freight revenues for
november were larger than those for
July or September.
Increase in Total Revenues.
lhese systems during the last six
Ionths of 1907 received from passen-
scr and freight revenues a grand to-
saloi s775, 900 900, which is $54, 900 900
I"e than they received for the same
neiiod IN the preceding year, 1906; and
melr net income from operation in
1So' was $14, O00, 900 more than in 1906.
,uese figures certainly do not indicate
~at' either owing to legislation or the
anc' The railroads of the country as
whole have been put in financial jeo-
pardy.
operating Expenses Increased.
II is true that during 1907 there
d great increase in operating en-
wa~ owing to general increases in
tba out, allowing for such increase,
Or larger volume of traffic and great
a,enre derived therefrom yielded
ssr net return to the railroads.
a''s-continental Roads Increase.
IN. study of these figures shows that
rosan anic' So far as it affected the rail.
extended but slightly beyond