The New York herald., 1921-12-28
NOVEMBERRAILROAD
REPORT A SURPRISE
Indications That Net Opera
ting Income Will Exceed
S50,000,000 Forecast.

The first dozen or SO railroad operat-
the aggregated net operating income OF
the Class 1 carriers for that month
may exceed considerably the S50.000,-
900 In net earnings forecast for Novem-
ber by some authorities. The combined
net earnings OF the New York Central
and the Pennsylvania Railroad, amount
Ing to approximately s12.765.0 900. sup
port the view that the earnings for No
vember will be larger than expected, al
| though or course greatly below the net
OF over s105, 100000 reported for Oc-
tober. the years peak traffic month.
A well based estimate cannot be made
before publication OF the statements OF
the larger Western roads, which owing
to the seasonal character of their busi-
ness We're hardest hit by the general
shrinkage in traffic In November.
Although the gross receipts OF the
Pennsylvania Railroad for November
were 100000 less than those OF Oc-
tober and s16.000.000 under those of
November. 1920. its net operating In.
come of s5,909,756 was the best OF the
year. exceeding its October net by $780,
600. and that OF November 1920, by
$1,000, 900.
The November report OF the Lehigh
Valley Railroad, more or less repre-
sentative OF the earnings OF the coal
carriers, showed S1.174.330 in net op-
Grating income saved out of gross re-
ceipts Of $6,S3o,327, against s633,21o in
net earnings and S7.563,1s5 in gross
revenues for November, 1920. Reduc-
tions OF s65o,000 in expenditures for
maintenance and more than s1,IOO.OOO
in transportation charges kept its total
operating expenses down to s5,050,7S5.
Its eleven months net amounted to
s4,74e,O47, contrasted with an operating
deficit of s6,944.21o, reported for the
same period of 1920.
other roads reporting for November
yesterday includ ed:
PENNSYLVANIA.
November gross .4l lesi; css 100 $50 l9SS SsS 81,
Net operating income. 7 Ssoa75s s1'sss es4 sss
Eleven months gross. .4eo .e92. .lS5 5i4.2s4 .69i
balance after taxes. =. 45,343143 s43 57O9l4
"Deficit.
NEW YoRK CENTRAL.
Soysmser No, mi, gross .s25 5ss.ss ss..szs .sss
Net operating income 6.s5s'494 ISIS '5ss
Eleven months gross. .296. .197 $50 4o,s5i. .1s5
balance after taxes. 43,633,727 1852 400
Net operating income. 10 ,092,e5 3741,I 1850
LOUISVILLE AND NASHVILLE.
1921. 1920
November gross. ...... 9.763, ,105 $1f, ,56S, ,s44
balance after taxes. ,033, 200 649 7q3
Net operating income. ] 1,O61 041 $50 494
Eleven months gross Jos. .T44 004 1854, 1854
Balance after taxes. 5,O202T5 5sO,S45
Net operating income. 4,200.S14 2.722 ,S26
PITTSBURGH. CINCINNATI. CHICAGO
AND ST. LOUIS.
1921. 1920.
november gross. ...... $s,6s2 .09l $11 .3s6. ia
balance after taxes. S12.720 675,612
Net operating income. 680,222 402, ,407
Eleven months gross S9.647 ,693 100 5S6, ,e45
Balance after taxes. 2,343. .806 ~0,s77 .1sS
Net operating deficit. 373,011 1867 800
sDeficit.
CLEVELAND, CINCINNATI, CHICAGO
AND ST. LOUIS.
1921. 1920
November gross. ...... &c. .S92 ,3S7 $S,091 .25d
balance aftnr taxes.... 9s3, ,l95 $3.50
Net operating income. 900, ass 800 20!
Eleven months gross. 1892 984 81 426 0G0
Ralance af'cT taxes.... S,313,S76 JOo21 ,oOi
Net operating income. 7,156,S43 794l 543
WABASH RAILROAD.
1921. 1920.
November gross. $500. S4,Is7.294 $5.7t3.01a
Balance after taxes. 702, ,073 295. OCT
Net operating income. A35,922 S9133
eleven months gross. 54, SCI 54S3S, ,93s
l,alance after taxes. 6,711 ,53S s2I54,57I
Net Operating Income. 3.9so,s2s '5,553,453
TEXAS PACIFIC.
1921. 1920
November gross. S3.076,421 81, ,962. .050
Balance after taxes. S0i, ,223 331, ,237
Net operating income. 500 1885 232.5is
Eleven montns' gross. 81, .156 81, ,0IS
balance after taxes. f.97S ,S66 1,7i4,130
Net operating income. 3,9O5,727 .274 $50