The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-03-24

goo, as over a million dollars less than
for the corresponding six months of
1906. The Chicago, Milwaukee and
| imately $500, 900 in operating reye-
nues, and the Northwestern system
an increase of About the same amount
although the MilwaUkee's net income
! was larger in 1907 than in 1906.
In the East.
Moving still further eastward into
trunk line territory between Chicago
and the Atlantic Seaboard, we dis
cover that the New York Central,
the Baltimore & Ohio, and the Penn
syiyania lines! both east and west of
Pittsburg, increased their total reve-
nues for the freight and passenger
traffic in the December period of
1907 over that of 1906: and as to
both the New York Central and the
Pennsylvania lines the net income
from operation was greater in 1907
than for the corresponding period of
the year previous. The returns from
these Dads indicate, however, that
the panic had its center in their ter
rltory, as there is a more notable fall
ing of in revenues from traffic in this
group during the panic months than
on any other excepting the Southern
roads.
THE single New England road tax
en- as an illustration, the New York,
New Haven & Hartford, shows an in
crease Of over million dollars in
gross revenues and a decrease of
about $250,000 in the net
Southern Roads.
1.-THE two Southern roads, the Louis
vile & Nashville and the Southern,
increased their total revenue from
traffic, their total operating expenses,
and also their net income from opera
ton, over the corresponding 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 so
dlsquieting as has been supposed;
and these figures, it must be remem-
bered, include at least two months
after the panic began in New York, |
during greater portion of which |
time banks would not make loans or |
discounts and railroads in many parts |
or the country would not receive
checks IN payment of freight
although the returns to the com
mission for January have not yet |
been tabulated, it is probable that |
they viii show that conditions have
been worse than in December; but |
this is alse to fbe borne in mind, that |
the month of January is generally the
slackest month during the year, and
February is also poor. There are no
doubt, individual instances in which I
the revenues of roads have seriously
declined during the past three months
over corresponding periods for sew
oral years past; but there are also
nVidual instances in which, singular
% say, the last three months have
been as good as any corresponding
.hree months in other years. and in
me case, the Oregon Railroad & Nav
cation Co., the commission has been
'ff1cially Informed that the past three
months have been the best in the
Dads entire history.
Traffic Greater Than Ever.
There can be- no question but .
hat within the past three weeks
here has been a strong upward ten
lency in freight revenues. A greater
IolVme OF traffic Is moving today
han has been moved at any time
Turing the past two, and perhaps,
hree months The sigures of the
American Railway Association show
hat there is less, surplus of cars at
his time than at any period since
he Both of October. This promises
N early return TO more normal con-
Iitiens, and railroad men generally
ire more optimistic than they have
'een since the Knickerbocker Trust
Company closed. But the increase
rom s4S3 200, 900 in 1906 to s523. OO0,-
100 in 1907, on the systems with
which l have dealt still leaves
anger net income for 1907 than for
906 by nearly $14 900, 000''
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