Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-11
RAILROAD PROFIT
GAINS IN HALF YEAR
Income of S563,347,135 in
Period Equal to Return
of 5.4 Per Cent.

Class I railroads for the first six
months this year had q net railway
operating income of $3.50, 347,l35, which
was at the annual rate Of return Of
5.54 per cent on their property invest
ment, according to reports just filed by
the carriers with the Bureau of Rail-
Way Economics and made public today.
In the first half Of 1928 their net rail-
wav operating income was 1882 .227,5 25,
or 462 per cent on their property
investment.
Property investment Is the value Of
road and equipment as shown by the
books Of the railways including ma
terials. supplies and cash. The net ral'-
way operating income is what is left
after the payment of operating ex-
penses. taxes and equipment rentals. but
before interest and other fixed charges
are paid.
This compilation as to earnings for
the first half OF 1929 is based on re-
ports from 1911 class railroads, rep
resenting a total mileage OF 24l,426
miles.
Gross Revenues Increase.
Gross operating revenues for the first
six months In 1929 totaled 90 ,063, 123,-
$40, compared with s2.911 ,402 500 for
the same period last year. or an in
crease Of So per cent. Operating ex-
penses for the first half of the year
with S2.z08. 1877 ,092 for the same month
one year ago, or an increase Of II per
cert.
Glass railroads in the FIRST six
months OF 1929 paid Sle5.877964 in
taxes. compared with l92.705.7S3 for
the same period the wear before. -
the month OF June alone the tsY 5,..
Of the class / railroads amounted 10
s34.l17.a5l. an increase OF s2.437 .3SS
over the previous year.
Seventeen class railroads operated
at 0 loss In the first half Of 1929. of
which six were In the Eastern. two in
the Southern and nine in the Western
district.
june Net Income.
Glass railroads for the month Of
June had 8 net operating income Of
sos eat, oe6. which, for that month.
was at the annual rate Of return Of
$50 per cent on their property invest
ment. In June last year, their net
railway operating income was S65,9s2,-
042, or 4.36 per cent.
Gross operating revenues for the
month of June amounted to 1881 1884,
90s, compared with $500, 1856, 937 in June
last year, or an increase OF 81 per cent.
Operating expenses in June totaled
1891, 5S6,414 compared with $375,57o,-
922 IN the same month in 1928, or an
increases of is per cent.
Glass / railroads in the Eastern dis
trict for the first six months in 1929
had net railway operating income of
S305. 022.2 which was at the annual
rate Of return Of sos per cent on their
property investment. For the same
period in 1923 their net railway operat-
ing income was $243,864,159, or 4.91
per cent on their property investment.
Gross operating revenues of the class
/ railroads for the first six months in
1929 totaled 81 $40. 500. 104, an increase
Of 80 per cent above the correspond
ing period the year before, while OPP
Grating expenses totaled Sl,l15,117.-
750. an increase Of 2.3 per cent above
the same period In 1923.
Glass / railroads In the Eastern dis
trict for the month Of June had net
railway operating income Of S56.93l,114,
compared with S48,4e3,oo3 in June.
1928.
Southern District.
Glass l railroads In the Southern
district for the first six months in 1929
had Q net railway operating income
Of s68,89l 1872, which was At the annual
rate Of return Of 4.39 per cent on
their property investment. For the
same period In 1928 their net railway
operating income amounted to s62, 4o7.-
795, which was at the annual rate Of
return Of 4.05 per cent. Gross operat-
ing revenues Of the class / railroads
In the Southern district for the
frst six months In 1929 amounted
TO S394.820.Se7, an increase Of IL
per cent above the same period the
year before, while operating expenses
totaled 1924, 891 200, decrease OF five-
tenths Of per cent.
the class l railroads In the Southern
district In June amounted to $10.138,2 s8,
while In the same month in 1928 it was
S7,53l.237.
Glass l railroads In the Western dis
trict for the first six months In 1929
had net railway operating income
OF S1S9, 433. 1855, which was at the an
nual rate Of return Of $50 per cent on
their property investment; For the
IN that district had net railway op-
Grating income Of S155,s55.571, which
was At the annual rate of return Of 4.44
per cent on their property investment.
Gross operating revenues Of the class
railroads In the western district for
the 1irst six months this year amounted
to Sl,127.664,179, an increase of 40
per cent over the same period last year.
while operating expenses .totaled $685., :
605,S2o, an increase Of 1.6 per cent.
compared with the first six months the
year before.
For the month Of June the net rail-
way operating income Of the class /
railroads In the Western district
amounted to $3S,e76.674. The net rail-
way operating income of the same roads
In June, 1928, totaled $29,997,S02.