Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-02-01
|P.R. R. NET INCOME
FOR 1917 SMALLER
December and Annual Re-
port Shows Expenses
Cut Larger Total
3.YEAR AVERAGE FAIR
Returns of Federal Calcula-
tion Period Exceed $50
Per Cent on Property

Continued heavy operating expendi-
lures have caused large decreases in net
operating returns OF the companies COM
posing the Pennsylvania Railroad Sys-
tenn for December and the year ended
December 81. although the total operat-
ing revenue was substantially larger
than the previous year.
The report of earnings. which came
out today, showed that, while the total
for lines east and west for December
was sS7,6ss.02S. an increase OF S2,10e.-
si7 over December, 1916, the operating
income for the month was only 5000
031. a decrease OF s4.4s2,706. And,
while the total operating revenue for
the wear 1917 was S491. .394.745, an in
crease Of s5o,3s4,32s, the operating in
come was sss.44s.ss3. or $20,S92,121
below the net for the preceding year.
The return for the last year was,
therefore, only 4.52 per cent on the
property investment and the smallest
since the year ended December 81, 1914.
the first year Of the world war, when II
was only 3.91 per cent. For the year
1915 the net return was 5.11 per cent.
and in 1916, which was one of the most
profitable in the history of the lines, 1t
was 6.l2 per cent.
At this rate the percentage return for
the last three calendar years would be
| a trife above $40 per cent, which is
particularly interesting at this time
owing to the assurance of the Govern
ment that railroads shall receive net
returns during the period of Federal
control equal to the average of the three
years previous to January I, 1913.
This average net return would give as.
surance Of greater annual percentage
return than that OF each of the last
seven years. excepting two. the years
1915 and 1912. And would be above
the average net percentage OF return
for the three years previous TO the triple.
year period upon which the Government
plans to base its calculations for allow
ances of net returns. In 1918 the net
was 4.3s per cent, in 1912 1t was 5.4S
| per cent, and in 1911 1t was 5.05 per
| cent.
The following is a summary OF the
operating revenue and income for the
month of December. 1917. and for the
twelve months ended December 81, 1917:
90. PENNSYLVANIA SYSTEM
DfGs"pSr ins revenus 'e. ,254ai1so si,ee7.se
| Railway operating oo, ,o ,.- ono
'rSVTs Tweive ma,ths -
Total oper. revenue $50 .Se50li 3S'sso9aaaa
Rwy. oper, income. 6l,o4es54 'lO'osA'o23
Lines West .'N' a-
December operating sos .oo 20.
Railway Tfvsa1' Operating -o0'.'S . 80
Twelve months
'o enue ' ........... ~ lso. .72s.e73 1s.4oo.s1s
income .'...,..,: ] 2s,5os,ses 'lo.ao7. .4ss
December operating
Railway sfsHHs operating ",'o'0 ao'00.' .,,oo. ~.
Twelve months
enne ............ 491. .3s4.745 5O.3s4. 32s
Income .......... ss.44e. $50 go. 500. 1al
PENNSYLVANIA RAILROAD COMPANY
S.s TsSsns. r'v.na. 'lissSsIss
Income income ..'''..... @ s5a,1.l 1850. so2
Tweive months
Railway operating o., a..
Net % revenue ..::.. ...::.. SISSS.ios 's.sos.S a.
income ........ a. esl. .4o7 $50. 7o1. .soa
PENNSYLVANIA COMPANY
Ss9p sp'Tsins I.Sssa. revenue Tsss5ssss s5ss 81
Railway operating .,.,,. =, ooo
Tweivs S month";.
Net S'ysSs rsS.su: iss isssf sss .SSs ssSs e. e.
income ..'.....'. @ 11.al7.7ss .s.ooa, ses
PITTSBURGH. CINcINNATI. CHICAGO
DS;$s:S D.; s:s:ss. :sss: ssss.
RAILWAY operating ,z- "a, .o,. ,.o
Twelve TweIve months ~
Railway operating
Net s'y:"ss rsSssus iG5sa5 iaiiG5ssaa5 'siasS sibasS
Railway operating ,,,,. a., 40.
'Decrease. tDencit, Increased deficit.