Norwich bulletin., 1913-11-25
Earnings Less,
 Expenses More
RAILROADS ARGUE FOR HIGHER
 FREIGHT RATES
SUBMIT THE FIGURES
Net Operating Income for 1918 showv Decrease Over That of 1s1o-Waqes and Taxes Are Now Higher.

Washington Nov. 24-That railroad earnings are not commensurate with tAe increased cost of operation. higher taxes and wages and additions to equ1pment necessary to meet commer- c1al demands of the country was sub mltted today to the interstate com merce commission by representatives or the railroads arguing for a general rates.
 The claim filed by railroads operat ing in the territory east of the Missis- slppl and north of the Ohio and Po- tomao rivers was upheld in a prelirn- mary outline of the railroad situation by Daniel Willard, president of the Baltimore and Ohio railroad repre- sentlng for the occasion the eastern roads ana Frederick A. Delano, presi- dent of the Wabash railroad. on De- half of the Central Traffic association.
 Decrease of Earnings.
 President Willard, in an onani,v statement, asserted that railroads in the territory concerned had expended ln property Investments in the last three years $500, ,000, 900, and that in the year 1913 the earnings were s1s.- 24boz1 less than for the year 1910. lie argued that the five per cent in crease applied for was not as much as the railroads were entitled to. and III this he was supported by President Delano, who argued for the railroads in central territory, and urged that in fXlng rates the commission should re- gard no particular territory. F1g11rea Tor the first two months of the present year, MT. Delano said were lesa en- courasing even than the results since IS40, when an appeal for a ten per cent. increase in rates was denied. Figures submitted by Vice Presiden. Shr1Ver of the Baltimore and Ohio for AZ railroads in the territory involved showed that the net operating income for 1913 had actually decreased more than S14,O00.00O, while operating ex- penses and taxes had increased S20I 100000 since 1910.
 Returns Show Declining Tendency.
 Q: M. Bunting of the Pennsylvania system testified that the return on property investment of that system had shown declining tendency since 1903 and steady decline since 1910.
 The amount of wages paid" contfn- ued MT. Bunting, "has increased about S6,OOo'oO0 during the period 1910 to 1913, approximately S15, ,OOO, 900 of which Is due to increased rates of pay"
 Net Loss to Stockholders.
 w. C. Wishart of the New York Central said that system had in the year just closed $3.284.730 less net cor porate income than in 1910. The divi- dends declared in 1918 were over s4. = 100000 less than in 1910, notwithstand- ing the increase of $49, ,0OO in the gross operating revenue In other words since June 80, 1910, there has been added to the property investment about $1,00o. 900 a week. while the net corporate income tn 1913 was less by about S6S,G00 8 week than in 1910, in- dicattng that expansion of business has caused net loss to the stockholders.
 Shippers to Be Heard.
 Tomorrow the railroad cornpan4ea will continue to present testimony and when this is all in, by Wednes- day at the latest, the commission will adjourn the hearing until the middle of December. or early in January. Al that time the shippers and general public will be given an opportunity ta present their side of the case.