The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1913-11-25
FREIGHT RATES
tcon-inasd ,ro-s First Pags.)

s207. lS6.919 in the property invest
ment and a decrease in the net operat-
ing income OF Sll.4S5.5ll. In other
words. the Pennsylvania system was
Sll.4S5.5ll short OF even receiving
cent additional return ON its en-
larged investment The percentage OF
return on property investment in 1909
was - per cent while in 1918 II
had fallen 10 AS per cent"
The amount Of wages paid" con
unued Mr.. Bunting. has increased
about $50 100000 during the period
1910 10 1913. approximately SIS 900 600
OF which Is due TO increased rates OF
pay. In addition large expenditures
had to be made for more substantial
and heavier equipment. higher stand
ard OF roadbed. and more modern in
terlocking Taxes have increased
S4.0'9.1.3 between 1910 and 1913.
Big Decrease.
summing up the operations. We
have. comparing 1913 with 1910. an in
crease in tonnage. but decrease In
the average revenue per ton per mile.
an increase in operating revenues OF
1908 per cent. an increase OF 2313
per cent. in operating expenses. an in.
crease OF 1858 per cent. in taxes. and
a decrease Of 1913 per cent. i'm net
operating income. with an increase OF
1855 per cent in the property invest
ment account
Even IL the total freight revenues
OF the Pennsylvania system in 1913
had been greater by > per cent. the
return from operations upon the prop
erty investment would have been 642
per Cent.-or only about per cent.
greater than the percentage actually
realized"
" G. Wishart. OF the New York
Central. said that the system since
June 30. 1910. had added $3.50 100000
10 the property which il devotes To
public use
The whole system" ne added.
had I'm The wear just closed just So
@N+.370 less net corporate income than
IN 1910. The dividends declared i'm
1913 We're over $4,000 900 less than in
1910. Notwithstanding the increase OF
Si9.o1O.0o0 IN the gross operating rev
enue
The year 1913 shows large in
crease I'm operating revenues. 1876
per cent over 1910. but operating cX-
uenses increased 23.5S per cent. and
taxes 222S nor cent. leaving the opcr-
ating income only AL per cent. great
or than il was IN 1910. This latter in
AT'' was l.H'If 'sN.AAi tAN-f'A h.-iA NF NNA'
large expenditures classed as other
reductions from income and 10y high
er fixed charges. so that the net cor
porate income was 80 per cent loss
than 1910.
Vice President Shriver Testifes.
Vice President Shriycr Of IA" Bal
timure d Ohio railroad. examined 10y
Hugh l.. Bond. counsel tO- the road.
also presented statistics relating 90
la. D.. #..H.
married. the effect of that company
Income for 1913 Of the changes which
have come about since 1910. To be as
follows.
Revenues decreased hv reason Of re-
ductlOu in rates. $500 900. total add
100000 iucr-a-" in wages. S6.i6t.-
600. Increase iU interest charge at
per cent on So 1000 ouO. increase in
capital investment. 3 SEQ 1000. or
total increase In the expense OF
- 20 600. The SurTlu S az the road.
Mr Shriver testified. was in 1910.
S4T73. 600. after paving Interest and
dividends. and IN 1913 was Sl."o6 goo
Protests against the proposed in
crsaseS ia rates Were formally filed
Coal Company and the New Pitts
burCh Coal COMPANY. Of Pittsburgh.
Pa. and Columbus O.. by Charles VI
Johnston. T. G. Morton and Frank
Lyon. who alter VIII argue against
m" increase. Rush &. Butler. repre-
seutiug the Freight traffic AssoCia-
ton. NJ the Chicago Association of
Commerce. also entered AN appear
auCe Tomorrow The railroad com
pauics will continue 90 present tasti-
WCny and when this - all iu. rv Wed
noSdav az tho latest the commission
will adjourn the hearing until the mid
tl" of December or early i'm January.
A. thar time the shippers and gen
erll public viii Dee given an oppor-
tuuity 20 present their side OF the
east" I'm the meantime Louis y.
Brandci- counsel for the commission.
will investigate the claims OF tho rail
roads Formal protest against Nr
Brandeis' appearance I'm tho cOsc on
behalf - the commission was fled
to-day by g. j. Spolmau. an attorney
~ New York The protest was
placed on file