Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-03-09

were ei70.00o.ooo greater than In 1893
and the increase during the past fifteen
years has been more than 100 per cent
Similar statistics were worked out
for the Pennsylvania, the New York
Central and the b. q (Which COM
panies were taken by the commission
as typical OF the eastern roads and
which do half the entire business. \
In the matter Of net earnings as dis
tinguished from net revenues the
showing IL even more startling. Mr..
Thorne shows that the, net earnings
Of all American railways Tor 1913 were
$50 per cent greater than IN 1890 ani
were in fact $50o,000,000 greater than
in 1898.
In like manner It Is shown that the
net earnings, which do not exclude
taxes, in the eastern district, during
the four year period of the agitation
have exceeded those Of any other four
year period and have In fact increased
5000 ,0O0. 900 since 1898. So. also in re :
gard to the three typical railroads used
for comparison, the increase has been
growing larger and larger during re-
cent years. sEs
Great Increase in Earnings.
Turning to other elements or meth
DDS of comparison it Is found that the
net earnings Of American railways. per
train mile, in 1911 were 46 per cent
greater than in 1880. The first five
year period showed decline Of per
cent compared with $780,, the second
five-year period, ending in 1899, shows
decline Of per cent plus, compared
to 1890; the f1ve-year period ending in
1904 showed an increase Of more than
% per cent compared to 1890; the per-
!Od ending in 1909 showed this increase
to be over ~ per cent: in 1910 the In
crease was 81 per cent. and in 1911 the
increase was As per cent
In regard to the net earnings per
mile of American railways 1t IL shown
they were greater in 1913 than for any
prior year in their entire history.
The reason for the phenomenal in
crease in net revenues is that there has
been a revolution in the railroad in
dustry. The train load in the United
States has increased more than 100
per cent since $780, and the number Of
tons hauled one mile per mile of line
has also increased more than 100 per
cent during this period.
Mr.. Thorne also prepared an exhibit
as to the tendency of net revenues,
making allowance for the increase in
wholesale prices, using the index
numbers introduced by witnesses on
behalf Of the railroads. with the result
that a constant tendency to increase
is manifest.
Carriers Claims Refuted.
The significance of these figures as
prepared by Mr.. Thorne for the west
ern commissions Is that thev refute
the claim made on behalf of sthe car
r!c-s that there is startling tendency
toward disastrous reduction OF the
revenues Of the railroads, but on the
contrary, when the survey covers
sufficient time to make fair estimate
Of actual tendencies, 1t shows that
revenues are steadily increasing and
that the companies have more money
to be used for operation. maintenance
requirements. labor. ETC., than ever be-
fore. The cause Of their distress. II
there is any, must be looked for IN
some other direction.
The statistics regarding the ability
of the roads to float stocks and bonds
also make a showing negativing that
Of the companies as presented, and the
showing as to the related industries
dependent on railroad purchases Is
equally interesting. These will be pre-
scented later