Evening star., 1923-12-06
RAILROAD RECORDS
MADE DURING YEAR
Car Shortage Nearly EIim-
mated With Traffic at Heav-
lest, Commission Reports.

Carriers registered an "uneuualed
performance" in transportation his
tory DUNG the current year the In
terstate Commerce Commission de-
clared In it's annual report made
public today.
with an unprecedented volume of
traffic to handle, carriers almost elimi-
mated car shortage, the report said,
and kept equipment serviceable to
an unnsnA extent. At the same time
general charges placed upon the
public for service were decreased, the
report added.
Reduction in Rates.
THE effect during the calendar
year 1923 of rate reductions made I'm
1928 will be to lessen the total freight
transportation charges paid by the
shipping public by more than $500, =
100000" the report said. 1--WE have
referred to the stabilization of rates
as one of the more important needs
OF commerce and have not made any
further general Investigations of
rates during the present year But
the year has continued to be one of
s.
largely by reductions"
The commission made no recon-
mendations for new legislatio In the
report. although considerable atten-
tlon was given to describing the work
OF controlling security issues and in
creasing safety inspection efforts, as
required by more recently enacted
laws.
Payment Under Protest.
1t was also revealed that for the
frst time the government had OBJ
tatned some revenue from the "re-
capture" clause of the transporta-
tion act Though the carriers making
the payments were not named, it was
SAID that sixteen railroads. which
earned more than an amount equiva-
lent to 6 per cent on the estima ted
value OF the property used by them in
transportation service had paid over
to the commission half of such ex-
cess earnings, or approximately $685.
600, which is now held by the Treas
ury. The validity of the law is still
being contested in the courts, the
report pointed out, and in conse-
quence the money was paid under
protests by the corporations con-
cerned.
About thirty-five railroads, the re-
port continued, appeared on the basis
of preliminary audits' to have earned
excess amounts during 1922. Figures
have not been completed for 1923
The transportation act, in directing
the commission to fix rates so that
railroads might, so far as possible,
earn per cent on the value of their
property. directed that half of the
excess over such a return should be
taken by the government, to be placed
In a general railroad contingent fund,
from which loans might be made to
railroads generally, if needed. The
commission was given power to alter
the fair return rate, and has cut il
later years. The report indicated that
twenty-six roads had earned more
than per cent in 1921. as compared
with the thirty-five in 1922.
In the matter of dealing with war
time railroad control the report indi-
Gated an almost clearing up Of ac-
counts. A total of S501, ,322, 900 has
been paid to carriers under the trans
portation act provisions guaranteeing
railroad earnings for six months after
termination of the federal control,
and but $37,677 900 remains to be paid
when all accounts are adjusted. The
ability of roads to finance themselves,
Tor the most part, without further ap-
pIicatfon for government loans was
indicated by the statement that dur
Ing the year the commission had au-
thoriZed security issues having a to-
tai par value of 1928, ,054 900, and had
likewise authorized the issuance of
100000 shares of common stock hay-
Ing no par value.