The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-10-28
COMMISSION IS
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mean that any dishonesty was used, |
but the maintenance charges have been
increased and show a corresponding de-
crease in revenue
Mt. White, who was the principal
witness IN the afternoon session OF the
commission introduced a number OF
statistical tables compiled by him from
railroad reports TO the interstate com
merce commission and TO different
state commissions. One of his tabu-
latlons gave the present value OF the
Chicago, Milwaukee 4 St. Paul rail-
road as S249,332 $50, and its present
capitalization S4l0, 1871 800, with a net
capitalization Of s25S,39ZS0G.
Return on Valuation.
The net operating income of the
road the witness said, was S17, 1000,
making the rate OF return on the valu-
alton III per cent and on the net cap
italiZatiOn SOS per cent. Other tabu-
lauOns were presented 10 show that
the traffic OF all the railroads in the
country had increased in density; that
the tonnage per mile had increased al
so, and on four roads, the Northwes-
ern. the Santa Fe. the Northern Pa
cific and the Rock Island, there had
been a large increase in the mainte
nance expenses.
In analysis Of the gross earnings. the
operating expenses and the net earn
ings OF all the roads IN the country
since 1890, Mr.. White stated the net
revenue OF the roads per mile in 1910
exceeded the revenue in 1900. 1926 per
cent, and 1919 exceeded 1880 in the
net revenue per mile, Use per cent.
Governor Stubs Of Kansas Will be
a witness for the shippers tomorrow.
lie attended the session today in re-
Spouse 10 a subpoena.
The shippers announced that they
would call six more witnesses before
adjournment. Attorney Clifford
Thorne, counsel for the Corn Belt Meat
Producers association, introduced
number Of exhibits, as did John s
Dawson, attorney Tor the state rail-
way commission of Kansas. and tabu-
latiOns covering variations in the per-
manent improvements, the estimated
valuations and the operating revenue
OF the railroads which are joined il
the present hearing.
Testimony of Mr.. MeVann.
r. j. McVann. manager OF the traf-
fic bureau OF the Omaha Commercial
club. on denomination said that
his figures of sS31,205 are the as
sessed valuation of the Burlington ter
minals in Omaha and Gid not include
the South Omaha, the Gibson yards
OF the railroad, or the right OF way
through the city. All these, Attorney
Dawson asserted, were included in the
S3,3O0, 600 estimate OF reproduction
value given by +. +. Ward. general
manager Of the Burlington. with which
Mr.. MeVann had compared his esti
mate.
OF the proposed increased freight
rates Nj McVann said:
1T is my opinion that the increases
Will not add 10 the revenue Of the rail-
roads, but will decrease their revenue
by their effect on business IN stop
page Of the movement of goods"
Mr. McNann testified that in 1910,
on a gross transportation income of
S74, 600, 200, the Northwestern road re-
ceiyed a gross profit of 1921 per cent;
that the Santa Fe. on gross trans
portatiOa income of SOS. ZOO, re-
ceived 1866 per cent gross profit, and
the Burlington. on a gross transpOr-
tation income of sSS,000, Gee, received
a gross profit of 1913 per cent.
The witness said the items Of de-
probation, taxes and debt were not
included in the computation.