The morning journal-courier., 1908-03-24
RAILROAD REPORT
 PROVES SURPRISE
(Continued from First Page.)

Der. We find, therefore, no alarming condition presented as to the trans continental lines.
 Coming this side of the Rocky mountains we see that the Rock Is land, notwithstanding the state legis- lation to which it has been subjected, increased it's revenues during the last half of 1907 over those of 1906 by over $3,000, GOO. The whole of its net income from operation, Sl7,000, GOO, as over a million dollars less than for the corresponding six months of 1906. The Chicago, Milwaukee and St. Paul shows a decrease of approx imately $200,000 in operating revenues and the Northwestern system an in- crease of about the same amount; al though the Milwaukee's net income was larger in 1907 than in 1906.
 Moving still further eastward into trunk line territory between Chicago and the Atlantic seaboard, we discoy- CT that the New York Central, the Baltimore and Ohio and the Pennsyl- vania lines, both east and west of Pittsburg, increased their total reye- nues for the freight and passenger traffic in the July-December period of 1907 over that of 1906; and as to both the New York Central and the Penn sylvania lines, the net income from operation was greater in 1907 than for the corresponding period of the year previous. The returns from those roads indicate, however, that the panic had it's center in their ter ritory, as there is more notable fall ing off in revenues from traffic in this group during the panic months than on any other excepting the southern roads.
 The single New England road talk en as an illustration, the New York, New Haven and Hartford, shows an increase of over a million dollars in gross revenues and decrease of about l $50.000 in the net
 The two southern roads, the Lou isville and Nashville and the South ern, increased their total revenues from traffic, their total operating eX- | peHScSi anu dlsb lilcii hNl iiNVhit from operation, over the correspond ing half year of 1906.
 Therefore. viewing the country as whole, from west to east and from north to south. the outlook for the railroads of the United States, as shown by their own figures. is not SC disquieting as has been supposed; and these figures, 1t must be remembered include at least two months after the panic began in New York during a greater portion of which time banks would not make loans or discounts and railroads in many parts of the country would not receive checks in payment of freight.
 Although the returns to the com mission for January have not yet beer tabulated, 1t is probable that they vii show that conditions have been worse than in December; but this is also tc be borne in mind--that the month o January is generally the slackes month during the year, and Februar, is also poor There are, no doubt individual instances in which the rev. enues of roads have seriously declin ed during the past three months ovel corresponding periods for .severa years past: but there are also individ ual instances in which. singular t' say, the last three months have beer as good as any corresponding thre' months in other years and in on, case. the Oregon Railroad and Navi gation company, the commission ha been officially informed that the pas three months have been the best il the roads entire history"