The Washington herald., 1914-03-27
Eastern Roads Lose.

toNAle Alohth Al thc AuO1cg AA1AhSA@s
Eastern Roads Lose.
Analysis OF revenues and expenses of
the steam railroads of the United States
for the month of January. 1914, compared
with January, 1913 indicates that the loss
In operating income, which Is net reve-
nue. from rail and auxiliary operations,
less taxes. was most notable on the lines
OF the eastern district of the United
States. Here the operating income per
mile decreased 4s.2 while the decrease in
the South and West was 81 per cent.
A summary prepared by the Bureau Of
Railway Economics, which covers rail-
ways operating z5,5l0 miles of line, or
about 90 per cent of the lines OF the
United States, states that their operating
revenues for January-freight and pas
senger traffic, from carrying mail and ex-
press, and from miscellaneous sources
connected with rail operation-were SZss.-
61S, ,la0, a decrease of sl6.457.067 from the
operating revenues for January. 1913
Reduced to figures of total operating
revenues per mile, January, 1914, showed
81, ,0u5, compared with s1.0s7 in January,
1913, a decrease of rs per cent. 1t Is
notable that the decrease In passenger
revenue per mile was IL per cent, while
freight traffic revenues showed de-
crease of 9.9
When the operating revenues are
brought into clear comparison with oper-
ating expenses they display some unusu-
ally interesting phases of subject that
is very nearly the center Of business
thought these days. The operating ex-
penses include all expenses except taxes
costs of maintaining track and equip
ment, operating trains, securing traffic
and of administration. They amounted,
for January, 1914. to s75,osl .oel, A,4e4,s sss
less than for the corresponding month OF
1913; by the mile. s776 for January, 1914.
as against sso3 in January, 1sls.- a de-
crease of Se6 a mile, or 33 per cent.
Figures showing net operating revenue,
that is, total operating revenues less
operating expenses, amounted for jan
uary 1914, to S51. .oo9. Sl1. 2,6D less
than for January 1918. Net operating
revenue per mile of line averaged sees
in January 1914, and s2si in January
1913, a decrease of s5s per mile or 1s.5
per cent.
Taxes for January amounted to s1l.-
17s, SIS or cents a mile, an increase Of
1o2 over January 1873
Operating income, the net revenue
from rail and auxiliary operation, that
is, the proportion Of their operating re-
ceipts which remains available to the
railways for rentals. interest on bonds,
appropriations for betterments, improve
ments, new construction and dividends.
averaged in January 1914 s1T per mile Of
line and in January 1913 s23s thus show
ing a decrease of ss1, or 25.s per cent.
These decreases are graphically shown
when II is stated that the operating in
come for each mile of line each day in
January 1914 was s5.1; in January 1913
II was S.61.
The operating ratio for January. that
is the per cent of total revenues ab-
sorbed in operating expenses, was T.3
per cent as against 739 per cent in jan
uary 1915 and 7s2 per cent in January
1872
Going back to the statistics by dis
tricts. one is struck by the following
table:
Decrease in operating revenues perl
mile of line Eastern District, 11-2; South
ern District. o4: Western District. 60 per
cent; decrease in operating expenses,
Eastern "a Western 6.3. the Southern
District showing an increase Of 2 per
cent.
Comparison of returns for the seven
months OF the current fiscal year with
those of the corresponding months of the
preceding fiscal year reveals decrease
in total operating revenues per mile Of
Is per cent: an increase in operating |
expenses per mile Of 3s per cent, and a
decrease in net operating revenue per
mile of 40 per cent. The decrease in |
the East was 19.3,. in the West 9. the
South showing an increase Of L. per
cent.