The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-05-20

relating 70 their financial aud eNcch'
tive operations. the railroads declined
TO answer and Indicated that they
were unable TO give The information.
For example. when an Inquiry Is made
with rofercncc To The cost OF the
property, and the details Of the cost
of the road and equipment, cost OF
road pef mile OF line. and cost OF
equipment pc mile n line. the rail.
road companies Indicated that they
were unable 10 siye the details fof
the reason than their books and roc.
ords did not show II, As matter Of
fact: the cost OF road and equipment
IL carrie on the books as debit, or
cross entry against stocks and bonds
outstanding.
Some Railway statistlos
The santa Fe Is well equipped
railroad With frgt.clas road bed,
The stocks and bonds outstanding are
S5i 100000 per mile Of line.
The Fort smith a Western railroad,
stocks and bonds outstanding $685.
10000 pes milecf line.
The katy AtQrlks and bonds out.
standing, 500 ,00h0d per mile Of line
The Kansas CNx Southern railway,
stocks aud bonds outstanding s2i3,.
10000 pei mile OF hne
The railroad companies contend that
they sh Hld be allowed 10 earn enough
money not only TO pay the interest
on bonds outstanding, and fair divl'
dend on the capital stock but 10 lay
sslde surplus fund for future con
lngencles as well
Revenues Of Railways
The managing officials o. the rail-
roads operating In Oklahoma insist
that the Commission has made freight
rates too low, and that their roads
axe losing money thereby
The Commission has proposed to
issue an accounting order requiring
the railroads 10 show the revenues
derived from the various commodities
moving between points in Oklahoma
separately and 10 separate and appor.
tlon the expenses properly chargeable
against tIia revenue The chief audi
tors end chief accounting officials Of
the railroad have stated that Il was
impossible to separate the freight
from the passenger expense.
II itls impossible Tor them to sep
arate lhesc expenses, how Is Il pos
sihie ssuf the rHiir6sd presidents TT
know TIM they are losing money on
this tfaIflc-how Is Il possible for the
Commission 70 know that the rates
are too low n the accounting Of
ficials do not know, and the presI.
dents do know. is. Il not about time
the railroad presidents should b. cal,
ed 10 halt o. at least permit the
subordinate officials 10 respond 20
the inquiries submitted by the Com
mission,
Proposed Accounting Order.
In the proposed accounting order
The Commission had no desire to d.
part stom the uniform system Of hook
keeping as prescribed hy the Federai
Government, but the Commission does
propose 10 have the facts relative TO
the expenses attondlnt 10 the move
men Of t5aiilc between points IN the
state Of oklahoma and 20 have the
figures s, paruled from the eudfe line
business. IN addition 10 this the Com
mission desires To be thoroughly in.
formed Ia reference 10 the actions Dt
the directors, the relationships be-
tween the railroad companies In re-
spect TO the control Of their lines;
how The control Is established. wheth-
er sole o. Joint control and whether
L is direct or indirccG and II the
company. Itself, Is controlled by an.
other company, lhe Commission wants
10 know the true facts
The Commission wants these inter.
60 Olpofate relationships fully explained.
The Commission also wants 10 know
the purpose Of the issuas Of eRpltal
stock outstanding, whether issued for
cash. issued for construction Of new
properties issued for aditions and bet
iesmeats, issued lpr the acquisition OF
securities. OF ISSUED for reUrganIza-
ton The Commission also wants the
same fae;s wiih relation to the Issues
OF honds outstanding
cousalaslon Doslrks Information
We wani 20 know where the expen'
ditules fer these additions aud bet
lermenis are charged, whether TO new
capital o. to income,
The Commission desires to be full
N informed with reference 10 the
amount and valuation OF stocks and
bonds Of other companies owned, and
the am1unt of dividends declared up
on these stocks and honus. and also
with reference TO appropriations made
fer sinking and reserve funds. The
employers In Oklahoma and their az.
efaga daily compensation. separate
from entire line business The mum
Der Of passengers carried per train
per car and the average distance
carried within tho state the tonnage
movement Of freight within this state.
separate from entire line business The
amount IL taxes paid pes mile Of line
for each state In which oklahoma
systeuT operate Tho ,apvensns pes
ton par milo 0a trnlghl carried lii. cir.
Ifvad lets between pQlRls.An Oklahoma,
|CnynFlng various carload commodities
|stpafate from entire line. We want
this information 70 compare with the
|anufn line figures, The accounting Of
firlaIs OF the RAILROAD companies pro-
lleeselsagalnsl giving fhis information
70 The Commission end the figures
stiah lNA have secureA - far were only
SECURED after continual and veIumnl
Ihts correspondence.
Wants Facts and Fscta Only
II the Commission has an tho fig-
lires they can act more lntelilEently
Railroad presidents and editors Of