The Montgomery advertiser., 1908-03-24
RAILROADS
 RECOVERING Reports to Commerce Commission. PANIC LOSS NOT SERIOUS Mr. Lans Gives Out Comparative
 Statement. Indu.trfai situauon of Country isBet- ter Than Is Generally Believed
 --TaI<es n Hopeful
 View.

H
 Washington, March 2s.--Every indi- cation points to an improvement gen. orally In the railroad and industrial situation of the country. according to reports made by the great railway sys- tenls of America to the Interstate Com merce Commission.
 These reports are to the effect that. while the railroads suffered to some extent by what has come to be referred to as the october panic" the loss was by no means so serious as generally has been supposed.
 It 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, a few of which were embarrassed not only by falling off of revenues. but by their inability to obtain ready cash with which to carry on improvements which they had begun while the Vest 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 im- proving materially, with . prospect lHhL lI soon VIII De 1OFftl6i Ob UGbtCAl
 Statement by Mir. Lane.
 Franklin K Lane. Pacific Coast mem ber of the Interstate Commerce Com mission has made careful analysis of the figures submitted by the railroads thems selves to the Commission. Mir. {. Lane was asked what loss the rail- roads of America had sustained from the october panic" He replied that tho railroad situation the country over is not irnminently a serious one at the present time. fs
 @There are no figures accessible by which a definite answer to your ques- ton can be given" continued Commits sioner Lane. Prom 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 Inter- state Commerce Commission now calls upon the carriers subject to the act to regulate commerce for monthly re- ports of their revenues and operating expenses. Such reports began with the month of July last, and have the figures complied by Prof Henry O.. Adams, our statistician, as to a num- Der of systems which may be taken as representative of the railroad sys- tems of the entire country.
 These systems are;
 New York, New Haven and Hartford.
 s'New York Central.
 "Baltirfore and Ohio.
 ''Pennsylyania. east and west of Pittsbilrg sssssgfs. t'.s
 ':Southern Railway.
 @EouisefIles and Nashville.
 Rock Island. ..@'ss',
 "Atchison. Topeka and Santa Fe.
 Chicago. Milwaukee and St. Paul.
 Northwestern.
 Southern Pacific.
 Great Northern.
 Northern Pacific.
 During the three months of July, August and September the total opera. ting revenues of these roads amounted to x399,0O0,0 900: for the panic months of October. November and December the total revenue was 6.000, 900. The freight revenues of the systems named were. for the first quarter. $264. 900 900. and for the second quarter. $259. .000,- 900. 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 SITS, 900. .0oO, which Is S54,0O0. 900 more than they received for the same period in the preceding year 1906; and their net income from operation in 1907 was e14,000,000 more than in 1906. These figures certainly do not indicate that, either owing to legislation or the panic. the railroads of the country, as a whole, have been put in financial jeopardy. It is true that during 1907 there was q great increase in operating expenses owing to general increases in wages; but, allowing for such in- crease. the larger volume of trafiic and greater revenue derived therefrom yielded a larger net return to the rail- roads.
 Railroads and Panic.
 "A study of these figures shows that the panic. so far as 1t affected the railroads, extended but slightly beyond Chicago towards the West. If we take the rans-continental roads reaching to the Pacific Coast. we find that every one of them increased its gross operating revenues during the last half of the year 1907.
 "Beginning with the Great Northern, which is near the Canadian border. and coming down the Pacific Coast to the Mexican border. thus including tn . Northern Pacific, the Southern Pacific and the Santa Fe Systems. each one increased its total operating revenues in the last half of 1907 over those rev. enues for the last half of 1908. while the net increase was In some cases increased and in others slightly de- creased. the net income from operation in each of these lines being: Santa Fe, Sf3.0O0, 900: North ern Pacific. $1s.000.- 00O; Great Northern. S13.00O. 900. and Southern Pacific. s41,o0Q.00O. for the six months. Taking freight revenues alone. the santa Fe system. for in- stance, shows larger freight revenues in December than in July or Septem- Der: and tho Southern Pacihc's Decem- Der freight revenues were but few thousand dollars less in- that month than .n any other month. excepting October and November. We find, therefore. no alarming condition pre- sented as to the transcontinental lines.
 Coming this side of the Rocky Mountains. we see that the Rock Isl- and, notwithstanding the State iegisla- ton to which 1t has been subjected. in- creased it's revenues during the last half of 1907 over those of 1908 by over ca, 900. 900. The whole Of it's net inc come from operation. Sl7.0oo.o 900. was over S1 .000 900 less than for the cor responding six months of 1908.
 The Chicago Milwaukee and St. Paul shows a decrease of approximate = a0NA nAn aAaNaktNa raNavnAm ana