Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-03-04
GENERAL REM ARkS.

The Income Statement is in the form pre-
scribed by the Interstate Commerce Commis-
sion, effective July LIST, 1872 which requires
the statement of certain parts of the Income
Statement in greater detail; well show
ing the receipts and disbursements OF certain
accounts. The Company IS further required 10
include the Income derived by Sinking and
other Reserve Funds part OF its Income;
bu, as it is not permitted TO charge a
payment interest any part of its bonds
which may be held in any of the Sinking or
Trust Funds. such interest bonds held
cannot be included in said Income. While
these accounting changes result, therefore, in
apparently swelling the Net Income of the
Company to the extent of SIS6.230.GO, yet 1t is
Offset by corresponding necessary appropriations
to these funds out of net income, which ap-
preparations were formerly included i'll fixed
charges.
This Statement shows that the total Rail
Operating Revenues were $114.607 ,59S.22, the
largest in the hstorv Of the Company. an in
crease of ST. 1oo 1882. or 1850 COM
pared with 1911.
The increased express traffic resulted in a
,.ot.r gross return, TO the Company. The flu
FIRE effect of the parcel post ON express rev
enue cannot as yet he determined. nor Is II
known what effect the change in express rates
ordered by the Interstate Commerce Coihiis
sion will have upon the revenue rece''eu iioii'
the Express Company operating over your iii'cs'
In ,h. TRANSFORMATION of United States Mails
III, rev.nues show 4 decrease although the vol
ume of the traffic increased Inc ra'es are
6X., Inv Congress. and there is 4 Congressional
investigation of the subject at the present TUNE
II * bop.d that, after due consideration is
given to the value of this service and TO the
special facilities it requires, remuneratlNe rates
will be paid
Rail Operating Expenses are also the largest
in the history of the Company. showing an M
crease Of $1 400 sal 30. or 1iS4ft CAUSED pr'ii-
cipally by the Increased traffic, which necc'sl-
tated not only greater outlayS ioT trihspo''a-
ton expenses. but also for repairs ana feheWais
of roadbed. bridges. and buildings. Sighais anu
intcrlocking and for other items when add 10
the safety and comfort of the patrons ana EN-
ploycs of the road: well as for repairs, and
renewals of equipment, and increased charges
for Depreciation.
The expenses further Increased by the
severe weather in January and February. 1917,
and they also reflect increases caused by higher
wages; the operation of the Extra Train re"
Law: Increased cost of fuel and other materials
and improved standards of track and other con
struction to meet the requirements oi heavier
rolling stock. ,. A.,
In the wage questions that arose during the
past year with the Enginemen and flFemen on
the railroads in the Eastern District OF the
United States represented by their respective
Brotherhoods general strike was averted III the
case of the Engineers by the appointment of Il
special Board of Arbitration. consisting OF seven
members. one selected by the railroad companies,
one hy the brotherhood of Locomotive Engineers.
and the other five appointed by the Chief Justice
of the Supreme Court of the United States. the
Presiding Judge of the Commerce Court and the
United States Commissioner of Labor, collect
lively.
THIS Arbitration Board constituted after
attemnts had failed to settle the difficulty
through mediation under the Erdman Act, ana
because the parties in the controversy while
agreeing to the principle of arbitration. would
not accept arbitration under the provisions OF
that Act. =, =,
In the difficulties of the present year with the
Firemeu represented by the Brotherhood of l.o-
railroad comnanies agreeing to submit To arbitra-
tton under the provisions of the Erdman Act,
which they did not believe TO he SATISFACTORY
but accented rather than impose OH the Country,