The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-09
ROADS NET FOR JULY
AFFECTED BY STRIKE
Income Is at 4.04 p. c. Annual
Rate, Slightly Less Than
Same Month in 1921.

The aggregate net operating income
OF Class ! railroads during July was
$6a. 23s, 900. or at rate of 4H per cent.
per annum on their tentative valuation.
according 10 reports submitted TO the
Interstate Commerce Commission. The
figure compares with s69.29S.5n for the
same month last year. In June. 1877. the
net operating income amounted to So
594. 900. or at an annual rate of 47s per
cent.
The fact that payroll reductions were
possible in July due TO the walkout OF
shopmen accounts in some measure for
the good showing. operating officials
asserted yesterday upon examination or
the figures. That August will tell
different story is the general belief be-
cause the carriers In that month were
subjected to heavy items OF expense in
connection with the feeding and protec-
ton of men hired az strikebreakers. The
additional expense incident 70 the send
ing Of equipment TO outside shops for
repairs is also expected TO figure largely
in the August statements.
Despite the presence OF the shop strike
in acute form for a period OF two
months il Is estimated that the net
operating income for the Class / roads
over the last half OF 1922 will be suf-
ficient to bring the total for the year 10
between sSo00O0,0O0 and 500 ,0o0,0oo To
make 8 per cent. return net OF
slightly more than 81 900 ,O00, 600 Is neces-
sary. Larger volume of freight offer
ing over the remaining months OF the
year because OF the resumption OF coal
movement is counted upon to boost the
revenues OF the carriers.
The report. which now comprises 1871
frc NJ ri
consolidation Of figures of number
OF carriers. showed that carriers In tho
Eastern district had net operating In
come for July Of sA ,l65, 400, compared
with s3l ,054, $40 IN July. 1921. Gross OPP
Grating revenues were s2l3, 49, 80 de-
crease OF 5.3 per cent from 1921 while
expenses were reduced 3.4 per cent,
standing at 1855. 500
Net operating income from the South
ern carriers was s6.479.00o, against
$4,000 in 1921. Operating revenues
totaled s53.063.0o0 a loss of 1.9 per cent.
while expenses were cut IL per cent. to
SAB 134, $50 The Western roads showed
a net OF $3S, $4,000, compared with
SO. 566, 500 IN 1921. Operating revenues
were sits. SOS 900 lower by 81 per cent,
while reduction Of 90 per cent was
recorded in expenses, the total for July
being 1924. 500
fof the ilTst seven months Oh Ls<N tns
lines throughout the country reported
a net operating income OF s4lS,2Tl 600, CT
at an annual rate of 4.36 per cent. as
against 2i4,713. 100, or 2.24 per cent. for
the corresponding period Of last year.
Operating revenues totaled $3,o5i. 53l 900.
a decline OF 26 per cent from last year.
while expenses stood at s2.il9. 6o2. 0o0.
reduction of liz per cent. from the 1921
level.
For July the roads failed by $50. 6ls.5on
OF earning per cent. return and by
IS. 332. 500 OF realizing the 81 per cent.
rate fixed in the recent rate decision
OF the Interstate Commerce Commits
sion. For the seven months period the
Class ! roads were 1856, 10000 short Of a
per cent. return.