The Washington herald., 1908-03-29
ROADS HURT LITTLE
Facts Show Deficits Are Less
Than Supposed.
TRAFFIC EARNINGS INCREASE
reports of Railway Operations on
File with Interstate Commerce
commission show that Business
Conditions Are on the Mend.
Statement by Mr.. Lane.

The Interstate Commerce Commission
this week scotched another snake In the
grass. Of which Wall street has been
giving loud and repeated warnings to all
who would not get bitten. The commits
sion. under the Hepburn law. receives
constantly reports from the railroad COM
panies of the country as to their earnings
traffic. and other interesting facts relative
10 their operation and business. These
are about the same reports that go to
Wall street
Commissioner Franklin K. Lane has
made close study Of the figures recent
" submitted by the railroads Of the
country, and has compiled a statement in
which he shows conclusively that while
the railroads suffered considerably about
the close Of last year as the result of the
financial furry. conditions now are rapid
ly improving, and have been for more
than a year His view OF the situation
contradicts fatty most of the statements
sent out from Wall street for stock
Jobbing purposes, and from other sources
for political or other sinister purposes.
Mr.. Lane Gives His Views.
Mr.. Lane is quoted as follows on the
subject in recent issue OF the New York
Journal Of Commerce:
From the figures available to the COM
mission it does not appear that taking
the country as a whole. the revenues of
the railroads have fallen off to the extent
that generally Is believed. The Interstate
Commerce Commission now calls upon
the carriers subject 10 the act 10 regulate
commerce for monthly reports OF their
revenues and operating 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 number of systems which may be
taken as representative of the railroad
systems of the entire country. These
systems are;
New York. New Haven and Hartford.
New York Central
Baltimore and Ohio.
Pennsylvania, east and west of Pitts
burg.
Southern Railway.
Louisville and Nashville.
Rock Island
'Atchison. Topeka and Santa Fe.
Chicago, Milwaukee and St Paul
Northwestern.
Southern Pacific.
Great Northern
Northern Pacific.
During the three months July. August,
and September the total operating reve-
nues Of these roads amounted to S399. .OO0.- /
600; for the panic months of October, |
November. and December the total reve-
nue. was S576.000OOO. The freight revenues |
OF the systems named were. for the first /
quarter. S264OO0.0O0. and for the second /
quarter S259 OO0 The freight revenues I
for November were larger than those for 4
July or September
Large Revenue in 1906.
These systems during the last six I
months OF 1907 received from passenger !
and freight revenues a grand total OF |
SITS 10000. which is $54.OG0,OOO more than !
they received for the same period in the
preceding year 1906: and their net income /
from operation in 1907 was Sl4 900. 600 more
than In 1906. These figures certainly do
not indicate that, either owing 20 legisla- |
ton or the panic, the railroads OF the
country as a whole have been put in
financial jeopardy. 1t is true that during
1907 there was a great increase in op-
Grating expenses. owing TO general in |
crease in wages; but, allowing for such
increase. the larger volume of traffic and
greater revenue derived therefrom yield /
ed a larger net return TO the railroads
"a study OF these figures shows that
the panic. so far as it affected the rail- !
roads. extended but slightly beyond Chi |
cagO toward the West. II We take the /
transcontinental roads reaching to the /
Pacific Coast, We find that every one of /
them increased its gross operating reve- i
nues during the last half Of the year 1907 1
Beginning with the Great Northern which 1
is near the Canadian border, and coming /
down the Pacific Coast to the Mexican /
border. thus including the Northern Pa !
cific, the Southern Pacific. and the Santa /
Fe systems. each one increased its total /
operating revenues in the last half OF 1907 \
over those revenues for the last half OF /