The Topeka state journal., 1922-12-26

spent by the Santa Fe fAr maintenance
than during the corresponding period
Santa F'e system for these nine
1922 Maintenance Of equipment. .s37. .267. .374
Maintenance of way. 2S.O99,9S5
1921 Mainienance Of equipment. .$39, ,732, ,659
Maintenance of way - 215z2o,l42
Increase of maintenance expendi-:
lures, 1922 over 1921...- -.S 4'4U9'oos
Total of S2,96O,O1- For Strike.
"Of this increased $2,96O,015 was
solely strike expense. divided as tol-
equipment, and sS70.736' maintenance
of way and structures; actual increase
$1,449.493.
I'Fur,&e-more. from March to Sep
tember. 1921. owing to the slump in
business, maintenance work on the
Santa Fe was cut to the bone, the to-
tai force being reduced from approx
imately $4,000 in February to about
$1,000 in June, the chief reduction oc-
curing in maintenance forces
Judge Reeds Comparison with the
years from 1914 to 1917, inclusive,
does not prove that 1922 is substan-
TALLY out of line. He gives the aver
age maintenance expense for the four
year period as 47-25 per cent The
percentage for 1921 was 47.4. The
percentage for, the first nine months
OF l3Zz as given DN MIN - OO-tos DuN
if deduction is made for the strike
expense this is reduced to BIZ
~'Roaiway and STRUCTURE, and par
ticularIy equipment, were not kept up
during the period of federal control.
and especial ehdeavor, has been made
to put the property back in good
shape. For instance. on January 1,
1922, bad order cars numbered 6.311;
January I, 1922, the number had been
reduced to 4,743: December 1. 1922,
to 3.SS2- Furthermore, car loading
since January 1, 1922, totals 1850
S3S cars compared with ] 1,332,193
1921, an increase of 21S,645 cars, or
16s4 per cent. Surely this increased
business is an important factor in ac
counting for larger maintenance ex-
pend!tures.
About Santa Fe Surplus
Judge Reed assails the Santa Fe
surplus. On January I, 1912, this
>was SCI, ,990,51S. On January 1, 1922,
or ten years later, this had increased
to $l95,S61,929, or an increase of
$133, ,S70,511- During this same pc
riod of time the Santa Fe's expendi-
lures for capital purposes, such. as adj |
ment, and new lines, tOtaled $19S,103,- |
449. This is $64,SS2.9sS more than
the increase in s0rplus- In other |
words, this sum, in addition to the |
entire surplus earned during this pc
riQd, had been spent in enlarging and |
improving g~<he Santa Fe plant in order
to be able to handle the traffic of its
territory Satisfactorily. This surplus |
is, of course, only a book figure, and |
is not represented by, cash. During
this entire period OUR stockholders |
have not received one cent additional |
by reason of this surplus, as all of
the Money has gone back into the
properly for the general benefit, and |
$64,OOO, 900 odd in addition.
1T has been the fixed policy of this /
company to strive earnestly to build |
IN MA
There is a strong feeling OF. the part
of some stockholders that this has
been done at their expense; that they |
have not had "A fair share oS the earn /
ings of-the company. Actually much |
more ought to have been done for i
the property, but could not, because |
of lack of money.
mo one knows better than Judge |
Reed how sur territory cried out for
additional transportation f cilities this
fail, yet, althc we did more than wei
have ever done before in our history, |
we fell Short of being able to respond /
to this cry. All thai we have done, 4
and all that we have tried to do. is
undeC the burden and handicap of /
just such efforts as his D hamper |
and shackle those who are endeavor-
ing to furnish transportation facilities. \
''W. B. STOREY"
When shown the Storey statement |
today, Clyde NJ. Reed, chairman of
the state pnblic utilities commission
(dAAC0 III a 44AG Va NAAG llAOAlAllN ICPOA u
of railroad on their operating reve-
nues, to the interstate commerce COM
mission for all railroads.
Differences in Figures.
The compilation of figures for the /
first nine months of 1922 in compari-
son with the first nine months of 1921.i
in the santa fFe's repoft to the fed
eral commission. showed the 1922
of equipment expenditure
as $31,471,939, instead OF $37, ,267 ,374,
as given by President Storey; the fig
ures on maintenance of way for the
same period were S23,16O.40S. instead
of $2S,0S9,9S5, as given in the state
ment of President Storey The tEoi
items of expenditure. added. gave a
total Of -S54. 32.S47--instead of $685.,
357.309. President Storey's total.
The figures for the first nine months
of 1921 showed corresponding diff
ference. The maintenance of equip
ment expenditure during the first nine
months of 1921. according to the inter-
state commerce commission was S2Ss=l
620,126, ins@ad OF $S9.TS2, $50; the eX-
penditure on maintenance of way and
structures was S1S.334.45O instead of
the S21.2 142 given in President
StOrey'S statement.
The difference between the expendi-
lures on maintenance during th@first
nine months of the two years was. ac-
cording TO President, Storey's tabula-
don. $4.4O9,5OS in favor of 1922. The
Santa Fe report to the interstate conn
n 1922 of $12.677.771-