The Washington times., 1913-03-04
GENERAL REMARKS.

The Income Statement is in the form pre-
scribed by the Interstate Commerce Com
mission, effective July 1st, 1912 which re-
quires the statement Of certain parts OF the
Income StatgfAent IN greater detail; as well
| as showing fhe receipts and disbursements
OF certain accounts. The Company is fur
ther 'feesirsd,to include the Income derived
by sinking and other Reserve Funds a. part
Of Its Income; but as II is not permitted to
charge as a payment interest on any part
Of It's bonds which may be held In any OF
the Sinking or Trust Funds. such interest
on bonds 90 held cannot be included in said
Incaa&! While, fhsss sccountins changes re-
suit. therefoEe,- IN, apparently swelling the
OF ss7ssss6se yetH. i offset BY correspond
ing necessary appropriations to these funds
out Of net income, which appropriations were
formerly included In hxed chargeA
This Statement shows that the total Rail
Operating Revenues were u746T. .5ss.z,, the
largest in. the history OF the Company. an In
crsase OF 81 1.i2Q, isS.S2, or 1os7ss a. COM
pared with t3u. 80 -ssi
/ The Increased express traffic resulted In q
greater srcss return to the Company The
future erect OF the parcel post on express
revenue cannot a. yet be determined, nor 10
IL known what effect the change In express
rates. ordered by the Interstate Conmerce
ceived from the Express Company operating
over your lines.
In the transportation of United States
Mails the revenues show decrease although
| the volume OF the trarhc slncreeSeu- Inc
rates are fixed by Congress, and there 10 q
Congressional investigation Of the subject at
the present time. II is hoped that after
due consideration Is given TO the vatoe OF
this service and TO the special facilities It
requires, remunerative rates will be paid.
Rail Operating Expenses are also tho larg-
est in tho history OF the Company, showing
an increase of $l3, &os. 5Si.5S. or u-&%. caused
principally by the increased traffic, which
necessitated not only greater outiays for
ion mi
and renewals Of roadbed, bridges. and build
ings signals and interlocking and for other
itsrns which add to the safety and comfort
of the patrons and employees of the road: as
well as for repairs and renewals OF equip
ment, and increased charges for Deprecia-
ton.
The expenses were further increased by the
severe weather In January and February,
lsl, and they also reflect iucreases caused
by higher wages: the operation OF the Extra
Train Crew Law. increased cost Of fuel and
other materisls. and improved standards OF
track and other construction to meet the re-
auirements OF heavier rolling stock.
In the wage questions that arose during
the mast year with the Enginemen and Fire
men on the railroads In the Eastern District
OF the United States represented by their
respective Brotherhoo1s. general strike
was ayerted in the OF the Engineers
by the appointment of special Board Of
Arbitration, consisting OF seven members.
one selected by the railroad companies, one
bv 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. collectively
This Arbitration Board was constituted
after attempts had failed to settle tho diffi-
Act. and because the parties in the contro-
versy. while agreeing to tho principle Of
arbitration would not accept arbitration un-
der the provisions OF that Act.
In the difficulties OF the present year with
the Firemen represented by the brotherhood
of Locomotive Ffremen. a strike was averted
hy the railroad companies agreeing to sub
mlt to arbitration under the provisions OF
the Eriman Act. which they did not believe
to be satisfactory. but accepted rather than
impose on the Country. the railroads and the
emuloyer the lafnentable consequences OF a
general strike. involving over fifty railroads.
having over c5%d OF the mileage and nearly
I0es OF the total Operating Revenues and
Operating Expenses of all the railroads in
the United States.
Considering The magnitude OF the interests
In this Country and those Countries with
which II has commercial relations that would
he affected by the interruption OF railroad
traffic and the serious results that wouh
en.ue therefrom; the stoppage OF food sup
nIie, fuel and other traffic the incon-
ycnience, losses and suffering to the gen.
era, public whose interest is paramount. and
to the workers In other industries dependent
on reliable transportation service and in
NO way responsible for railway disputes. and
the failure of strikes to produce any per-
msuent advantages to either the employees
and their families or to tho transportation
co,nnantes careful consideration should he
given tn the recommendations for the amend
ment OF tho Erdman Act. which have been
made from many sources interested In the
wel-betng of the Country.
The experience arising from these larger
wage controversies places serious respon-
sibiIity upon those whose duty II Is to enact
proper legislation governing the relations he-
tween efnploser and employe. 10 consider
whether the Erdmsn Act should not be
amended to increase the number OF arbitra-