The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-03-24
IMPROVEMENT
De RAIL ROADS
REPORT or INTERSTATE COM
MERGE COMMISSIONERS LANE
INDICATES VAST SETTLEMENT
IN TRANSPORTATION OF THE
COUNTRY AND A BRIGHT PROS
PEcT FOR THE FUTURE.
BY Associated Press.

BY Associated Press.
Washington, d. c., March 23.-Every
indication points to an improvement
generally in the railroad and indus
trial situation of the country, accord
| ing 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.
1t 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,
few which were embarrassed not
only by a falling off of revenues, but
by their inability to obtain ready cash
with which to carry on improvements
which they had begun while the
western lines and the trans-continen-
tai roads have not suffered material
ly from the financial depression. The
figureS available to the Interstate
Commerce Commission indicate also
that the general condition in the
country is improving materially, with
NAL or better.
Franklin K. Lane, Pacific coast
member Of the Interstate Commerce
Commission, has made a careful an
alysis of the figures submitted by the
railroads themselves to the commits
sion. Mr.. Lane was asked what loss
the railroads of America had sustain
ed from the October panic" He re-
piled that the railroad situation the
country over is not imminently a Sc
rious one at the present time.
No Decrease in r. r. Revenue,
There are no figures accessible by
which definite answer to your ques-
ton can be given" continued Com
missioner Lane. From the figures
available to the commission, however,
It does not appear that, taking the
country as whole, the revenues Of
the railroads have fallen off to the
extent that generally is believed. The
interstate Commerce Commissioner
now calls upon the carriers subject
to the act to regulate commerce for
monthly reports of their revenues and
operating EXPENSE. Such reports be-
gan with the month of July last, and
/ have the figures compiled by Prof. |
Henry G. Adams, our statfstician, as
to number of systems which may
be taken as representative of the |
railroad systems of the entire coun-l
try. These systems are:
New York, New Haven & Hart |
ford, New York Central, Baltimore & |
Ohio, Penn sylvania, east and west of |
Pittsburg. Southern Railway, Louis |
vale & Nashville, Rock Island, Atchi- |
son, Topeka & Santa Fe, Chicago,
& st. Paul, Northwestern. |
Southern Pacific, Great Northern, and |
Northern Pacific
During the three months, July, Au-
gust and September. the total operat- |
ing revenue of these roads amounted |
30 1899 900, 900; for the panic months |
Of October, November and December |
the total revenue was 1915, 600, 600 |
The freight revenues of the systems |
named were, for the first quarter, /
1854 100000. and for the second quar-
ter. s259, 100000
''The freight revenues for Novem- |
Der were larger than those for July |
or September.
These systems during the last six
months of 1907 received from passen-
ger and freight revenues a grand to-
tai of STE, 100000, which is $54 .000, 900 |
more than they received for the same
period in the preceding year, 1906; |
and their net income from operation
in 1907 was s14,0o0,000 more than
in 1906. These figures certainly do
not indicate that, either owing to
legislation or the panic, the railroads
OF the country as whole were
put in financial Jeopardy. It is true
that during 1907 there was a great
increase in operatin gexpenses owing
TO- general increases in wages; but,
allowing for such increase, the larger
f70 nd Tor 4
derived therefrom yielded a large
act return to the railroads.
Panic Didn't Effect Railroads.
"A study of these f1gues shows
that the panic, so far as it affected
the railroads, extended but slightly
beyond Chicago towards the west.
f we take the transcontinental roads
'eaching to the Pacific coast, We find
hat every one of them increased its
gross operating revenues during the
asst half of the year 1907. Beginning
With the Great Northern, which is
lear the Canadian border, and com
ng down the Pacific coast to the
Mexican border. thus including the
Northern Pacific, the Southern Pa
sific and the Santa Fe systems. each
me increased its total operating rev.
,nues in the last half of 1907 over
hose revenues for the last half of
600, while the net income in some
asses increased and in others slightly
decreased; the net income from oper-
tion in ach of these lines being. |
santa Fe s13.o0o.o0O. Northern Pa
ific s1S,000.000, Great Northern sI3-
10000 and Southern Pacific Sill .000,-
90 for the six months. Taking
reight revenues alone. the Santa Fe
ystem, for instance, shows larger
reight revenues in December than inl
uly or September; and tn Southern
'acific's December freight revenues
7ere but few thousand dollars less
4 that month than in any other
Month excepting October and Novem-
er. We find. therefore, no alarming
ondition presented as to the trans
ontinental lines.
Coming this side of the Rocky
fountains We see that the Rock
sland. Notwithstanding the state Ieg-I
slation to which it has been subject
d, increased its revenues during the
asst half of 1907 over those of 1906
n Aran -, II