Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-08-18
BUREAU OF LABOR INDEX NUMBERS
i9l3.-lOO

lei
AL commodities ...................,. 1885 144.G
It will be seen that in June, 1924,
the latest month for which figures
are available, the group, Metals
and Metal Products" stood at 1922,
while the Farm Products group
stood at 1874. The Metals and Metal
Products group averaged 1922 per
cent.above 1918 prices and the Farm
Products 81 per cent above. The
Metals and Metal Products group
includes copper, lead, zinc, tin and
silver, but is made up chiefly of
leading steel and iron products.
AS these are average prices, some
commodities in each group are be-
low the index number and some are
above it. The figures for farm
products in the past year have been
raised by the high price of cotton,
the June index number for food pro-
ducts alone being 119. Some farm
products have been selling below
1913 prices, but on the other hand
copper is selling today below the
1918 prices.
The "Iron Age" began in 1908 the
weekly publication of a composite
figure representing different grades
of pig iron, and another composite
figure representing seven leading
steel products. This composite figure
for pig iron for tho year 1903 was
$1s.18 per ton, and for the month
of July just closed it was 1929.
The "Iron Age" composite price of
finished steel in 1903 was 1868 cents
per pound, and in July, 1924, it was
1884 cents per pound. We have no
composite figure for wages so far
back, but for the year 1913 the av-
erage wage of all the employees of
the United States Steel Corporation
outside of the administrative force
was $2s5 per day, while for the
year 1923 that average was 1913
per day. It should be added that
twenty-four years ago days
work in the iron and steel industry
was ten or twelve hours, while now
it 10 eight to ten hours. --~nAss
Railroad Wages and Charges. =
We gave in, the June number Of
this Letter a statement by Mr..
Markham, President of the Illinois
Central Railroad Company relative
to the increase in operating costs
and charges since 1913, and as they
represented actual results in the
case Of an important company and
fairly illustrate the transportation
situation, we give them again, here
with. xsgTzssss
In 1928 the company paid: vs5sS
$2.4G for the same quality OF locomotive
coal that It paid 81 for in 1918:
sl.s7 for the same quality of materials and
supplies other than coal that it paid 81 for
in 1918:
1928 in taxes for every 81 It paid in 1918 :
sle6 for the same number Of hours OF Ia
Dor that it paid 81 for in 1918.
In transportation rates. the increase is
In 1928 received only Sl.54 for hauling a
passenger the same distance that IL received
81 for in 1918. It received only H,ss for
hauling q ton Of freight the same distance
that Il received 81 for in 1918. The latter
figure. do not have reference TO the charge
for hauling any particular kind Of freight.
hut they show that the average revenue
which the Illinois Central System received
In 1928 for each ton Of freight carried one
mile was only IS per cent greater tnan II
pares. as noted above in dollars and cents,
Win increases in costs Of l44 per cent for
locomotive coal. 81 per cent for materials
and supplies other than coal. 22s per cent
for taxes and e6 per cent for labor.
The average increase in railroad
charges is less than the average In
crease in the prices of the 404 COM
modities included in the Bureau OF
Labor tables, and of the total earn
ings Of the railroad companies a
smaller share is saved as net to the
companies than in pre-war years.
In this connection mention should
he made of some Of the gains in
operating efficiency which have en-
abled the railroad companies to alb
sorb the great increase in operating
costs with so small an increase OF
income.
Taking all freight into considera-
ton. including carload and less than
carload lots, the average carload
weight in 1901 was 1856 tons and in
1928 it was 25.1S tons. The average
tonnage of freight in q trainload in
i 900 was 270.9, and in 1928 it was
GAS tons. The average number OF
tons Of freight moved one mile per
employe in 1900 was 1885, and in
1928 il was 222,619. These results
were accomplished by q great ex-
penditure Of capital upop roadbed
and track and equipment. The trac-