RAILWAY EARNINGS. THIS entire publication is devoted to a presentation of the reports of earnings COMMERCIAL & FINANCIAL CHRONICLE

RAILWAY EARNINGS SECTION OF THE COMMERCIAL & FINANCIAL CHRONICLE Copyrighted in 1922 according to Act of Congress, by WILLIAM B. DANA COMPANY, in office of Librarian of Congress, Washington, D.0..14. VOL. 114. NEW YORK, APRIL 15, 1922. NO. 2964. _ THIS entire publication is devoted to a presentation of the reports of earnings and expenses of United States railroads for the latest month (February) and for the calendar year to date, including said month. The table embraces every steam operating railroad in the country which is obliged to make monthly reports to the Inter-State Commerce Commission at Washington. Returns are now required only from carriers whose railway operating revenues, or gross earnings, exceed 1,- 000,000 per annum. Sworn Returns. The figures are a transcript of the sworn returns on file at Washington. They have the further advantage of uniformity of method and classification. Every company is obliged to make up its returns on the same basis and in the same way as every other company. Earnings The "Chronicle" has always made a specialty of weekly and monthly Our Specialty, reports of railroad earnings, and for nearly fifty years its weekly and monthly summaries have been everywhere accepted as authoritative. The present publication is in continuation of this work. These Inter-State Commerce returns also make it possible for us Full Details. to present full details of both the revenues and expenses. Besides showing total gross earnings, we indicate separately the passenger and the freight. revenues. In the case of the expenditures we report the outlays for both maintenance of way and maintenance of equipment as well as the traffic and transportation expenses. We also show the railway tax accruals and the net earnings after the deduction of such taxes and also the deduction of the comparatively trifling item of uncollectible railway revenues. In addition, we indicate the net earnings remaining after the deduction of certain rents, namely equipment rents and joint facility rent. We conclude by giving the miles operated on which the earnings are based. Cents Discarded. The cents we have necessarily been obliged to discard altogether, and if in any case the results should happen to vary a dollar, one way or the other, from exact proof, the reason for the variance will be found in that circumstance. Company Returns To make this publication absolutely complete, we add statements Also Given at the end to show also the figures issued by the companies themselves, where they are made up on a basis different from that of the Commerce Commission returns, or where they give additional items of information, or where, as sometimes happens, figures are issued by the companies in consolidated form, so as to show results for the system as a whole, instead of each constituent road separately. Other Returns The matter contained in this extra and novel publication is entirely Continued additional to the comprehensive reports of earnings we furnish in the "Chronicle" from week to week. All the returns of the leading roads, and also all weekly figures of gross earnings, are printed regularly and promptly in the "Chronicle" as soon as received. But in addition we issue once a month say about the 15th this special publication, furnishing a sort of compendium of earnings in which we bring together all the returns for the latest month which are available. Only for As in the case of our numerous other Supplements or "Sections," Subscribers, all of which are expensive publications, the "Railway Earnings Section" will be furnished only to "Chronicle" subscribers. These will receive it free of charge, one copy going with each subscription. It will be impossible to obtain copies in any other way, as none will be printed for general sale... WILLIAM B. DANA COMPANY, PUBLISHERS NEW YORK 90 PINE STREET 136-138-140 FRONT STREET

APRIL, 19221 RAILWAY EARNINGS 3 GENERAL INDEX TO ROADS APPEARING IN THIS SECTION, Name Page Akron Canton & Youngstown 4 Alabama & Vicksburg 4 Alabama Great Southern. See Southern_12 Ann Arbor 4 Arizona Eastern. See Southern Pacific _12 Atchison Topeka & Santa Fe 4 Atlanta & West Point 4 Atlanta Birmingham & Atlantic 4 Atlantic & St. Law. See Grd. Trk. Sys. 7 Atlantic City 4 Atlantic Coast Line 4 Atlantic Steamship Lines. See So. Pac.12 Baltimore & Ohio 4 Baltimore & Ohio Chicago Terminal _ 4 Baltimore Ches. & Atlantic. See Penn _ 10 Bangor & Aroostook 4 Beaum. Sour Lake & Western. See New Orleans Texas & Mexico 9 Bellefonte Central 14 Belt Railway of Chicago 4 Bessemer & Lake Erie 4 Bingham & Garfield 5 Boston & Maine 5 Brooklyn Eastern District Term 5 Buffalo & Susquehanna 5 Buffalo Rochester & Pittsburgh 5 Canadian Pacific 14 Carolina Clinchfield & Ohio 5 Central Now England 5 Central of Georgia 5 Central RR. of New Jersey 5 Central Vermont 5 Charleston & West Carolina 5 Chesapeake & Ohio Lines 5 Chicago & Alton 5 Chicago & Eastern Illinois 5 Chicago & Erie. See Erie 7 Chicago & North Western Chicago Burlington & Quincy Chicago Det. & Can. Grand Trk. Jct. 5 5 See Grand Trunk System Chicago Great Western 5 Chicago Indianapolis & Louisville 5 Chicago Junction 5 Chicago Milwaukee & St. Paul 5 Chicago Peoria & St. Louis RR 5 Chicago Rock Island & Gulf 6 Chicago Rock Island & Pacific 6 Chicago St. Paul Minn. & Omaha 6 Chic. Terre Ha.& South. See C.M.&St.P. 5 Cincinnati Indianapolis & Western 6 Cincinnati Lebanon & North. See Penn..10 Cino. New Oro. & Texas Pac. See South_12 Cincinnati Northern. See N. Y. Central_ 9 Clevel. Cinc. Chic. & St. L. SeeN. Y. C. 9 Coal & Coke. See Baltimore & Ohio.. _ - 4 Colorado & Southern 6 Columbus & Greenville. See Mob. & 0_ 9 Cumberland Valley & Martinsburg_ 6 Delaware & Hudson 6 Delaware Lackawanna & Western 6 Denver & Rio Grande 6 Denver & Salt Lake 6 Detroit & Mackinac 6 Detroit & Toledo Shore Line 6 Det. Gr. hay. & Mil. See Gr. Tr. Sys. 7 Detroit Toledo & Ironton 6 Duluth & Iron Range 6 Duluth Missabe & Northern 6 Duluth South Shore & Atlantic 6 Duluth Winnipeg & Pacific 6 East St. Louis Connecting 6 Name Page El Paso & Southwestern 7 Elgin Joliet & Eastern 7 Erie 7 Florida East Coast Fonda Johnstown & Gloversville 14 Fort Smith & Western Fort Worth Den City. See Col. & Sou. 6 Ft. Worth & Rio Gr. See St. L.-S. F 11 Galv. Harrisb. & San Ant. See Sou. Pac.12 Galveston Wharf 7 Georgia Georgia & Florida 7 Georgia Southern & Fla. See Southern 12 Grand Rapids & Indiana. See Penn.....10 Grand Trunk System 7 Grand Trunk Western Great Northern 7 Green Bay & Western 7 Gulf & Ship Island Gulf Colo. & Santa Fe. See Atchison_ 4 Gulf Mobile & Northern 'locking Valley Houston & Texas Cent. See Sou. Pao 12 Houston East & West Tex. See So Pac_12 Illinois Central 7 and 14 Indiana Harbor Belt. See N Y. Central.. 9 International & Great Northern 7 International Ry. Co. of Me 8 Kanawha & Mich. See N. Y. Cent.. _10 Kansas City Mexico & Orient RR 8 Kan. City Mex & Orient Ry. Co. of Tex_ 8 Kansas City Southern 8 and 14 Kansas City Terminal 8 Kansas Oklahoma & Gulf 8 Lake Erie & West. See N. Y. Cent 10 Lake Superior & Ishpeming 8 Lake Terminal 8 Lehigh & Hudson River 8 Lehigh & New England 8 Lehigh Valley 8 Long Island. See Pennsylvania 10 Los Angeles & Salt Lake 8 Louisiana & Arkansas 8 Louisiana Railway & Navigation Co 8 Louisiana Western. See Southern Pac 12 Louisville & Nashville 8 Louisville IIenderson & St. Louis 8 Maine Central 8 Maryland Delaw. & Virginia. See Penn..10 Michigan Cent. See N. Y. Central.. _10 Midland Valley 8 Minneapolis & St. Louis 8 Minneapolis St. Paul & S. S. M 9 Mississippi Central 9 Missouri & North Arkansas 9 Mis ouri Kansas & Texas 9 and 14 Missouri Kansas & Tex. Ry. of Texas_ 9 Missouri Pacific 9 Mobile & Ohio 9 Monongahela. See Pennsylvania 10 Monongahela Connecting 9 Montour 9 Morgan's Louis. & Texas RR & SS. Co. See Southern Pacific 12 Nashville Chattanooga & St. Louis 9 Nevada Northern 9 Newburgh & South Shore 9 New Jersey & New York. See Erie 7 New Orleans & North East. See South_12 New Orleans Groat Northern 9 New Orleans Texas & Mexico 9 New York Central 9 Name Pape New York Chicago & St. Louis 1U New York Connecting 10 New York New Haven & Hartford 10 New York Ontario & Western 10 New York Phila. & Norfolk. See Penn 11 New York Susquehanna & Western.....10 Norfolk & Western 10 Norfolk Southern 10 Northern Alabama. See Southern 12 Northern Pacific 10 Northwestern Pacific 10 Oregon Short Line. See Union Pacific 13 Oregon-Wash. RR. & Nay. See Un. Pac_13 Panhandle & Santa Fe. See Atchison 4 Pennsylvania Railroad and Co_10 and 14 Peoria & Pekin Union 11 Pere Marquette 11 Perkiomen 11 Philadelphia & Reading Ry 11 Pittsb. & L. E See N Y. Central 10 Pitts. Cin. Chic. & St. Louis. See Penn_11 Pittsburgh Shawmut & Northern 11 Pittsburgh & Shawmut 11 Pittsburgh & West Virginia 11 Port Reading 11 Quincy Omaha & Kansas City 11 Richmond Fredericksburg & Potomac.. _11 Rutland 11 St. Joseph & Grand Isl. See Union Pao_13 St. Louis-San Francisco 11 and 14 St. L. Brownsv.& Mex. See N.0.T.&M_ 9 St. Louis Merchants Bridge & Terminal. See Terminal Association of St. Louis_13 St. Louis San Francisco & Texas. See St. Louis-San Francisco 11 St. Louis Southwestern 11 and 14 St.Louis S.W.Ry.of Tex. See St.L.&S.W.11 St Louis Transfer 11 San Antonio & Aransas Pass 12 San Antonio Uvalde & Gulf 12 Seaboard Air Line 12 Southern Railway 12 Southern Pacific 12 and 14 South. Ry. in Miss. See Col. & Greenv_12 Spokane International 12 Spokane Portland & Seattle 12 Staten Island Rapid Transit 12 Tennessee Central 13 Terminal Railroad Assn. of St. Louis... 13 Texarkana & Ft. Smith. See Kan. C. So_ 8 Texas & New Orleans. See So. Pao_...12 Texas & Pacific 13 Tol. & Ohio Cent. See N. Y. Central....10 Tol. Peoria & West. See Penn 11 Toledo.St. Louis & Western 13 Trinity & Brazos Valley. See Colorado & Southern 6 Ulster & Delaware 13 Union RR (of Pennsylvania) 13 Union Pacific 13 and 14 Utah 13 Vicksburg Shreveport & Pacific 13 Virginian 18 Wabash 13 West Jersey & Seashore. See Penn 11 Western Maryland 18 Western Pacific 13 Western Railway of Alabama 13 Wheeling & Lake Erie 13 'Wichita Falls & Northwestern 13 Wichita Valley. See Col. & Sou 6 Yazoo & Mississippi Valley 13

4 RAILWAY EARNINGS [vol.. 114. REVENUE RETURNS OF UNITED STATES RAILROADS FOR FEBRUARY AND FOR THE TWO MONTHS ENDING WITH FEBUARY. In the following we furnish detailed figures of earnings and expenses for February 1922, as compared with February 1921, and also for the two months ending with February in the two years, of every steam railroad in the United States which is obliged to file monthly returns of earnings and expenses with the Inter-State Commerce Commission at Washington. It should be understood, however, that the Inter-State Commerce Commission now requires monthly reports only from roads whose gross railway operating revenues exceed 1,000,000 per annum. Prior to the taking over of the roads by the Government, or, to be strictly accurate, prior to the call for the March 1918 reports, monthly initurns were required from all carriers having railway operating'revenues in excess of 100,000 per annum. In the closing page of this publication-page 14-we also give the Company returns where these differ in any way from the Commerce Commission returns or embrace more facts than are contained in the latter. - Expenses--Maint.way Maint. of equipml Tot.exp.,incl.oth. Net from railroad_ UncollectIble revenue_ Aver. miles of r'd open _ Expenses-Maint.waY Malta. of equipm't_.... Net from railroad... -24,360-5.456 47,406 4.007 Netafter taxes, &c.. Aver, miles of r'd open... Expenses-MaInt.way Maint of equipm't_.. Net from railroad.._. A vet. miles of r'd over. _.. Expenses-Maint.waY Maint. of equipm't- _ Tot.exp.,incl.oth: Net from railroad... Uncollectible revenue. Netafter taxes. &c.. Aver. miles of r'd open Expenses-Main t.way Meant of equipm't Net from railroad Uncollectible revenue. Netafter taxes, &c_ Aver. miles of r'd open Akron Canton & Youngstown 151,298 69.755 299.133 154,782 1,257 2,089 2,688 3,344 159.019 78.946 314,535 173,257 11,207 13,827 25.636 27,100 18,121 18.794 35,324 35,890 5.618 3,935 10,916 8,936 42,813 34,192 _84_312 82,004 --05,913 76,189 173 059 1-60700 73.106 9,000 2.75/ 9,000 141,476 18.000 7,24/ 18.000 64,106. -6,243 123,476-10,753 48,018-33,80/ 91-;-22i -38,124 170 170 170 170 Alabama & Vicksburg -month of February- -Jan. 1 to Feb. 28-165,889 193,662 333.510 425.110 48.302 54,303 106,875 123,776 230,141 263.416 469,667 581.798 39,084 51.920 75,703 116,142 53.903 80.004 106,365 162.654 9,079 7,882 18.019 16.433 90.391 114,797 195,164 254,303 205.781 268.872 422,258 577,791 19,730 7,931 38,220 23,369 17 1 34 3 4,613-113,388 9,155-19,365 13,941-9,013 19,021 --5,681 141 141 141 141 Atchison Top_ & Santa Fe System Atchison Topeka & Santa re -Month of February- -Jan. Ito Feb. 28-8,086,989 8.937,363 16,108.726 18,432.722 3,238,758 3,965,519 6,611,886 8,715,654 12.375,461 13,863,737 24,774.102 29,219,740 1,449,213 2,042,235 3.123.803 4,400,450 3,295,417 4,595.078 6,983.368 9,530,034 240.455 280,294 523,781 546,711 4,438,826 5,697,059 8,949,652 12,214,816 9,747,630 12,970,425 20,212,368 27.429,907-2.627.831-893.312-4:561,734 1,789.833 1.021.400 954,483 2,009,773 1,691.061 1,929 3,547 3,195 4.497 1,604.502-64,718 2,548,766 94,275 I= G.-- -. ESE= 1,585,067-121,352 2,473,231-93,496 8,855 8,828 8,860 8,828 Gulf Colorado & Santa Fe 3 1.148.779 1,698,888 2,365.285 3.637.156 256,866 338,164 558,670 798.847 1,497,701 2,119,851 3,113,092 4,628.897 399.158 469,646 865.884 924.835 459,847 624,240 1,002.292 1,263,857 38.400 44,129 80,202 87.857 541,931 811,165 1,131,437 1,868,542 1,516,565 2,017,878 3.229.967..1,282,673-18:864 101,973-110375 346,224 73,469 76,984 84,584 150,921 229 211 562 405-92,562 24,778-202,021 194,898-198.985-56,502-402,664-32.979 1,907 1,007 1,907 1,907 Panhandle & Santa Fe 3 413.928 488,380 809,075 993,550 84,454 115,815 187.482 258,858 530,142 636,904 1,058,626 1,318,164 80,822 120.155 195,702 292,906 197.728 305,997 407.435 588.698 5.761 7,243 12,782 14.696 183,018 237.303 400.670 523,730 484,925 696.332 1.053,172 1,467.826 46.217-59428 5,454-149.662 22,814 18,276 45,627 36,770 78 98 61 98 22,_325-77,802._-40 234-186,530 -I-9.356-117,056-120,262-2747200 857 857 857 857 Ann Arbor 3 3 307.564 231,304 604.896 621.470 35,888 45,319 80.421 98.787 356.512 300.337 710,443 763.828 38.370 42,552 75.998 95.757 45.918 65.708 123.743 179.234 8,533 8,651. 17.925 165,726 162,917 348,302 389,130 270.567 294,477 592,961 712,384 85.045 5,866 117.482 51.444 19,200 17.500 38,400 35,000 5 113 10 66,745-11,645 78.969. 16,434 47,758 =24,137-32,687 =21.086 293 293 293 293 Atlanta & West Point 5123865. 19822. 1921. 1922. 1921. 75.532 99,200 171.194 192.515 82,608 65.833 131.683 177.491 160.008 184.426 341,570 416.061 209.522 181.546 410.607 393,773 23.448 25.771 48.283 58.210 25.166 29.638 37.496 49,191 36.386 50.203 86.498 95.917 26.201 41.128 59,069 76.438 7.700 7.864 15.714 16.012 1,592 1.472 3.349 3.614 71,310 79.206 146.931 176.791 134,709 119,624 264,187 277,715 152,588 178,642 324,358 378.556 7.420 5,784 17.212-37.505 9,291 15.765 18.462 31.033 57 59-1,928-9,981-1,309 6,472-10,172 ' 696-16,786 12,004 93 93 93 93 Atlanta Birmingham & Atlantic 3 224,249 201.086 444.167 473.763 28,933 53,568 63.522 126,103 274,087 299,042 52.002 98,473 84,031 96.723 21.740 24,450 148.782 207,899 547.839 109.863 172.999 42,868 303,167 675.183 191 716 202.385 48.678 476,434 323,047 446,533 661,434, 985.028-48,960 =147.-491-113.595 =282.845 19,000 20,344 38,110 36,767 66 197 367 236-68,026-168,032. -_ -152,072 _.-_ -319,848 _ -78-,644-1617407 -176.587-300,143 639 639 639 639 Atlantic City - 100,068 62.254 193.069 137.544 109,582 119.124 229,635 249.042 215.099 44.921 35.665 4,252 169,118 186.703 436.740 403.849 64,796 99,914 139.275 48,594 2,185 92.196 2.883 7.603 5,533 186,084 339.898 397.823 257,205 303.699 456,745 637,665-42.106-116.994-20,005-233,816 19,248 17,886 38,497 35.772 5 23 5-61,354-134,887-58,525 =269,593-77.131 7=158,191-77,016 =314,786 176 177 176 177 Atlantic Coast Line -Month of February-. -Jan. 1 to Feb. 28-3.886,754 3,994,206 7,311,853 7,865,958 1,756,628 1,991,803 3 280 299 4,113.669 6.006.666 8.322.951 11,300,710 12,774.003 636,009 898,675 1,269,135 1,812,034 1.115,552 1.206.912 2,071,726 2,553,493 123,206 107,227 231,962 221,234 2,117,331 2,827.581 4.414,581 6,026,078 4,171.022 5,226,696 8.352,71410,993, 604 1;835,-644' 1,096,-258 2,947,996 1,780.489 250.000 250.000 500.000 600,000 9,519 1.433 15,972 2,609 1,576.125 844.822 2A32,024. 1.277,880 1.489.383 673.869 2.267.590 1,01-4,650 4,923 4,889 4,923 4,889 Baltimore &Ohio Includes Coal & Coke 1922. 1.921. 1922. 1921. 12.414.188 11.107.544 23,684,360 25,372,151 1,804,807 2,200.138 3,915.565 4,839,514 15,033.672 14,165.359 29.303,432 32.021,511 1.900,272 1.300.098 3,801,034 2,994.057 2,997,327 3,649.244 5,747.323 8,119.864 284.123 271,123 588,358 539,000 6.268,608 7,373.172 12,505,991 16,204,120 12,049,949 13,245,229 23,845.874 29.193,966 _ -- -2,983.723 -----920,136-5,457,558 2-:827.545 654,916 560.256 1,309,832 1,182.357 1,466 4.128 9,151 9,435 2,327,341 355.745 4,138,575. 1,635,753 2,071.125 61:426-3,594.230-167-.230 5,184 5.235 5,184 0 Chicago Terminal 201,850 205,507 392.413 444,730 /:67-2 --=-23:961 18.194-50.95/ 38.355 31.169 76,710 62.338 3,357 307 3.744-30,083-58,487-58,823, -117,039 84O69'"2.324 152,709 76,017 90 90 90 90 Bangor & Aroostook s 605.631 610.593 1,187.409 1,207,839 72.269 78,2.18 150.40163,350-698,080 711,063 1,376.649 1,417,235 106,229 129,856 209.129 274,030 135.867 167,547 257.481 345,633 3,532 4,875 7,790 8,122 207,967 260,649 415.680 546,439 472 683 692,726 927,887 1,229,739 226-07 118.331 448.762 187.49-6 41.717 36.082 81.573 75.085 13 12 13 13 183 667 82,43 367,176 112,398 186,978 82,851 376.627 142,324 625 658 625 658 Belt Railway of Chicago - 495,621 373,370 932,055 830,167 27.504 24,992 52,713 56.635 55.795 46.528 107.774 116,165 2.187 1.145 3.129 2,485 218,110 210,391 444,715 502.352 313.038 292,852 627.125, 699,084 182,583 80.518 304,930 131.083 30.674 26.995 63,468 51,762 151,909 53,523 241,402 79,321 152,7-61 13-2,987 285,121 266,315 32 31 32 31 Bessemer & Lake Erie 1912. 1912. 1921. 535.961 1798161,'931 1,046.330 1,724.882 27,619 41,240 59,01189.669 _ 579.384 848,261 1,139-;188 1,858,897 58.134 130,530 122.494 242,736 254,305 493.526 540.930 950,627 11,756 17.731 27,710 32,760 232,903 378,688 484,212 807,432 589,995 1,051,680 1,238,333 2,102,413-10,611 =203-.-415 =99.148-2401-5 32,700 16.525 65,400 33,050 189 14 193 20-43 500-219,958-164,738-276 01-16,270-119,746-121,852-80,5A 225 225 225 225

APRIL, 1922.] RAILWAY EARNINGS 5 Expenses-MaInt.way Malin. of equipet... Net from railroad Uncollectible revenue. Netafter taxes. &c. _ - Maint. of equipet _ Tot.ex p,inci.oth. Net from rallroad Net after taxes. itc_ Tot.. Incl. other rev. Expenses-MaInt.way Maint. of enuipm t_ Traffic ex penses _ Net from rallroad.. Uncollecti hie revenue_ Net after taxes, &c. Aver. miles of rd oper. Tot.. Incl. other rev. Expenses-Maint. way Maint. of eouipm't Transportation, xp_ Tot.exp..incl.oth. Net from railroad _ Uncollecti hie revenue. Net after taxes. &c_ Maint. of equipml..-. Transportation, xp- Tot.exp-incl.oth. Net from railroad - - Net after taxes. acc.. Expenses-Ma I n t. way Traffic ex penses To tam p I nel.oth. Net from railroad...... Tot.exp-inci.oth. Net from railroad. Aver. miles of r'd over. Bingham & Garfield -Menthol February--Jan. 1 to Feb. 28- I 1922. 1921: 1922. 1921. 1 S 9,364 18,754 19,151 39.187 569.011 664.573 1,048.441 1,264.995 549 2 1,872 17,091 24,776 36,616 52,442 9.618 20,575 19.500 44.087 18.170 15.365 36.404 26.089 3,108 4.875 5.725 10.830 910 1.207 2,547 3.891 4,495 10.342 7.769 23,466 31,156 36,976 61.261. 73,798-21.538-167401 -47,761-29,711 5,762 4.044 12,091 8.117 --27,300 --20.445 --53.852 --37,828 --21T482 35 --44.466 35 35 --8,341 35 Boston & Maine -Month of February- 1922. 1921. -Jan. Ito Feb. 28-1922. 1921. 3,760,802 3,552,196 7.217,043 7,285.760 1.608.048 1,728,923 3,359,748 3,622.712 5.925.754 5,778.757 11.695.299 11.899,020 821.608 1.347.637 1,691.477 2,543,937 1,105.275 1,626,505 2.329.232 3,227.272 48,825 73,184 103.688 132.442 2,947,260 3,504.033 6,041,918 7.515,374 5.151,146-6,825,177 10,660,589 14,033,489 774.608-1,046.420-1-.034.716-72,134.-4-80 163.291 253.446 326.682 506.362 12 490 30 537 611.305-1,300,356 708,098 '&4k3-346.846 =147778.56 182,549-3,027.757 2,287 2,300 2.287 2.300 Brooklyn Eastern District Term. -Month of February- -Jan. 1 to Feb.28- i 3 118.698 95.810 226.811 172.153 127,168 6,167 11,198 338 54,428 103.034 5.204 22.634 354 42.221 242.078 10,592 35.344 438 96,370 189.501 10.095 36.497 796 84,722 76.608 74,715 151,999 144.195 =- 50.560 6.349 28,319 6.889 90.070 12.698 45.306 1:3,133 44.211 21.430 77.38k 32,173 44,211 21,550 77,381 32,293 9 9 9 9 Buffalo & Susquehanna RR. Corp 182.636 200.790 343,878 417,017 6.126 7,230 12,780 15.953 192.347 210.715 364.195 28.178 438.262 3:3.510 58.281 75.219 48.:393 109.553 111.328 226.675 2,673 3,224 4.758 6.495 60,023 70,409 118.701 160.934 147.618 226.10/. 311.101 489,609 44.729 3.250-15.392 6.000 53,094 6.500-51.347 10.450 41,479-21.392 ---- 46,594-61,797 '=-62.996.---26,072 91.656' -43.670 253 253 253 253 Buffalo Rochester & Pittsburgh 1922.1921. 1922., 1921. ' s 1.114.603 932.995 2,169.604 2,085,124 123,984 149.500 264,719 322,782 1.297.711 1,112.440 2,51-5,139 2.481,157 101.199 119.837 227.225 286,064 373,809 344.980 755.9:37 725,711 13.530 16,838 29,601 36.562 484,918 576,048 954,618 1.263.122 1,010,195 1.103.614 2,044,239 2,404,400-287,516 8,826 470.90d -76.757 35,000 35.000 70.000 70.000 446 237 252,516-26,174 400,454 6.520 270,303 161,633 430.981 375,077 589 689 589 589 Carolina Clinchfield & Ohio 54:3.331 456.650 1,098.224 1,053.782 31.902 39.288 ' 68,316 88.090 583,132 509,812 1,182;212 1,172.856 67.642 99,274 137,648 195.366 134.811 156.857 26:3.848 336,516 21,464 22,992 44.332 47,219 155,645 174.259 318.800 399,303 395,400 473,719 795.921 1,021,709.=-187,732 36.093 386,291 151,057 40,000 30,000 80.000 60.000 22 :362 129 429 147,710 5,731 306.162 90,628 --'---191,188 110,90i 383.-41T "71272-66 291 291 291 291 Central of Georgia 1,109,877 1,136,761 2,061.425 2,191,552 389.824 494,435 795,004 1.057,202 1,647.207 1,786.366 3,154,094 3,575,211 225.825 300.730 444,346 616,408 312.417 387.892 640.434 789.949 85,382 59.474 130.392 122.085 658,101864.905 1,30,820 1,807,173, 1,340,362 1,892,951.732,962 3,503,449 306.845 93.349 421,132 71,762 84,701 89,612 164,304 172,558 1,319 285 2,467 432 229,825 3,452 254,361-101,228 251,433. 1,304 310,227' -79,288 1,913 1,913 1.913 1.913 Central New England 615.168 713.604 1,143.242 1.374.217 72.486 82,468 144.293 184.785 70,190 98,020 171.038 229,674 5.023 3.745 9,054 7,589 183.043 256.467 410.824 551,327 343,213 466,262 760.283 1,005,706 271.955 257.34 382.954 368.511 22,073 20,875 44.131 41,750 59 6 72 249,882 236,408 338,822 326.689 228.595 146.346."-284,354-186359 295 301 295 301 Central Railroad of New Jersey -Menthol February- -Jan. 1 to Feb. 28-3,231,678 3,001.048 6,290.741 6,291,902 607,232 638.012 1,249.585 1,328,731 4.045.016 3,807,710 8.014.923 8,012.381 384.238 358,239 790.093 753.380 1.339.446 888,367 2,538.986 2.251.843 30,562 35.497 64.657 66.947 1,597.352 1.800,340 3.321,443 3,844,637 3,460,559 3,219,990 6.952,642 7.202,741 =5847457 587.720-1.062.28l 809.640 242,870 325.985 515.625 548.256 227 6 226 8 541.354 261,720 546.430.. 261,376 =314.013 322.947 508.012 424,031 685 685 685 685 Central Vermont -Month of Feoruary- -Jan. 1 to Feb. 28-364.780 316.384 85,543 103,764 Charleston & Western Carolina 189.410 194.488 382.385 383.566 36,562 43.353 72.303 93,061 239.102 253.566 33.604 64,597 44.582 65.458 6.120 6.642 115.567 148,982 Chicago & North Western I 6,909,316 6.853.601 13,487,592 14.460.217 2.077,869 2,868,927 4,390,385 5.956.345 9.897,064 10,656,697 19.871.881 22.446.293 1,053.122 1,110.623 2.085.172 2.482.217 2.247.216 2.944.008 4.722.559 6,522.063 145.854 155.072 311,124 333.687 4,961.198 5.629,316 10,199,259 12,183,854 8,772,645 10 288,109 =. 18,078.605 22,174,9.2-1.124;419 368.588 1,793.276. -28.640 729.220 780,000 1,460,000 1,560,000 9,306 614 11,449 2,589 385,893-412,026 321,827-1.591,229 -='309.797-425;61-5 8,402 8,402 158.-493 11.705,176 8,402 8,402 Chicago Burlington & Quincy 3 9,321.477 8.64,784 17,861.628 18.721,101 1.911,520 2,474,590 4,051,431 53?5.487 12,082,472 12,126,673 23./44,016 26.126.472 888.536 852.158 1.960.879 2,188.579 2,687,105 2,725.223 5,457,590 5,649,275 182,579 168.868 359.561 364.590 4.593,265 5.265.032 9,558.623 12,000.198 8,750,997 9.535,863 18.z31,092 21,3,18,686 3,331.47A 2,-691.811 5.513.52T 4.817,784S 922.744 875.386 1,835.819 1.600,858 Cr15 1.424 5.518 8.456 2,408,746 1.714,000 3,676.187 3.408.474-72-,101.61,1t 1.494.333 3,555.701 2,806,19T 9,393 9,389 9,393 9,389 Chicago Great Western 687.463 645,588 1,30.5,038 1,289,818 2,465.61E4 2,717,550 179,397 214,571 313,297 404,807 660.706 872,437 491.309 457.272 951.546 924.278 1,745,349 1,812.643 3,375.837 3,848,940 45.314 65,327 98,971 131,378 147,253 164.996 294.250 365,619 100.625 123.636 199.974 281.544 441.109 468.346 941.460 1,002,886 13.809 9,493 24.328 21.638 64.527 68,811 128.366 140,263 263.425 359.255 549.981 736,064 804.962 823.171 1.666.078 1.829.590 451.663 579.733 928,301 1,210,754 1.5t3.208 1.601,350 3.165,572 3,504,511 39.646-122.461 23.241 --286-.476 222.141 208,2-3 210:7X 9-44,426 16.950 20.900 33.900 41,800 90.400 83,202 173.709 164,955 4 27 57 28 284 686 577 721 22,692-7143,388-10,714. -328,304 131.457 124,405 35.979 178,753-3,961-146.691 --57.:-067 3-23-,-650-W231 54.752-181,97""--1-6-71-613 413 413 413 413 1,496 1,496 1,496 1,496 Chicago Indianapolis & Louisville S 905,518 767.517 1.719.501 1.620.667 205,274 230.109 443,940 507.356 475.596 508,050 1,204.058 1,090.648 2,350.550 2,320.443 79.025 127.279 119.216 107.171 234.191 215.043 90,004 133.442 256.290 307.514 512.509 657.134 12.826 14.266 37.135 32.479 68.107 64.831 230,386 301,504 450,090 490.288 921.468 1,064,163 206,160 293,198 424,728. 591,370 907.459 984,665 1,830.009 2,102.490 32.942-39.632 50-.868-83.320-298:608 105.983 520.541 217.955 11.000 10,000 22.000 20,000 53.858 46.209 105.137 92,418 80 46 174 55 205 14 205 120 21,862-49,678 28,694. -103.375 22,113 342-52.192 342 21,456-110,514 342 342 Chesapeake & Ohio Lines a 6.081,352 4,141.136 10,945.290 9,853,739 649.082 857,707 1,414,890 1,898,469 6,980.645 5,271.089 12,870.187 12.397.187 725.669 862,994 1.325.682 1,734,368 1,642,641 1,749,281 3,158.344 3.867.441 71.408 62.483 1:36.096 133.265 2.66:3,078 2,529,076 5.039.890 5,668,184 5,267,702 5,395.098 10,004,689. _ 11,784,691 1,712.943-124.009 2,865,498 612.496 267.500 229,810 535,000 459.620 1,823 1,420 2,110 3.497 1,443,620-355.239 2,328,388 149,379 --- 1,439,885-556.638 2,468.036-64.902 2,548 2,542 2,548 2,541 Chicago & Alton -Month of February- -.Ian. 1 to Feb. 28-1.975.214 1.53.5.678 3,777.416 3.371.582 423.991 516,536 911.562 1,121.944 2,561.439 2.184,527 4,988.919 4.784.527 161.913 262,235 394,765 54:3.012 6:31.627 709.387 1,255.957 1.471.297 54,893 51.156 114.513 104,780 942,552 1,072,552 1,939,121 2,323,910 1,848.538 2,175.530-712.901-8.997 75.000 60.000 303 3.320 637,598-754,323 471,007-198.234 1,050 1,050 3,837,184 4,596.189 1,151,735 188,338 150.000 120.000 614 3,622 _1,001.121 64.716 6-44,736-233:466 1,050 1,050 Chicago & Eastern Illinois 1,636,725 1,483,542 3.159.033 3,386.544 332,192 426,648 717,562 926.754 2,085,918 2,119,674 4,141,553 4,673,616 198,554 230.664 411.924 514,791 490,732 878,512 1.02:3,631 1,804,311 44.609 34.425 81,955 71,759 815,813 991.657 1,671,698 2.197,286 1,627,396 2.219,390 3,344,073 4762,i39 -.458,522-99,725 797,480-88,523 85,000 85,000 170.000 170,000 203 365 802 664 373,319-185.090 626.678. -259,187 317,427-239,393 945 1,130 677,921-192,413 945 1,130 _ 242,545 _... 59,760 415,199 125,415-4.008 220.638-32,662 136.100 657 654 657 654 Chicago Junction 434.342 372.645 826.794 796.205 39.008 59.675 75.664 119.734 37,986 49,058 77.804 97.390 607 212 1.371 439 202,785 194.997 4'14.279 427.113 290.572 314,722 579,003 668.634 =143.770 57.925 247,791 127.57f 54.173 3.503 79.733 7.006 3,414 3,414 89,597 51,006 168.058 117.1-61 168,396 12 117,204 12 328.541 12 266,754 12 Chicago Milwaukee & St Paul Incl. Chic. Terre Haute & Southeastern -Month of February- -Jan. i to Feo. 28-- 1922. 1921 1922. 1921. 7.773.932 7.115.596 15.728.834 15.127.808 1,620.974 2.056.291 3.496.290 4,428,604 10.402,775 10.152.245 21.275.022 21.7-3-9.901 1.436.124 875,226 2.580.581 2.082.851 3.059,999 2.98:3,243 6,302.071 6,567.995 197.098 171,266 367.321 333.112 5,072.445 5.733.021 10,328,079 12,054,134 10,109.667 10,202,433 20,344,754 21,951,840 293.108-50.188-930.268-211.930 798.704 719.401 1,597.408 1,438.802 5,287 1,119 10.031 2,453-510,883 --770 708-677 171 -i.65394-877,018-1,083.047-1,343,805-4-297,051 11,030 10.606 11,030 10,606 Chicago Peoria & St Louis 169.7,16 i1.597 32%.836 263,757 20.550 26,236 42.481 56,288 202,943 21,094 47,113 4.358 113,528 150,123 17,685 52.613 4,596 104,007 394,120 38,921 89.414 9.082 231,087 334.063 46,847 124,784 10,028 231,066 196,447 190.125 392.682 435.484 n=,7 714 --40,662 1.438 --101,421 9,500 7,119 19,000 14,281 3 16 42 --3.007 --47.121 --17.578 --115,744 --26,441 '="-41M-3 --169516 246 247 246 247

6 RAILWAY EARNINGS [vol. 114... Tot.. Ind. other rev. Expenses-MaInt.way Tot.exp..incl.oth. Net from railroad. Chicago Rock Island & Gulf 329.114 405,872 680,196 858,218 Colorado & Southern (Concluded) Wichita Valley 69,232 90,944 146,141 206,929 17.259 26.695 39.847 60,090 Detroit & Toledo Shore Line 359,159 176,267 625,566 381,577 72.357 104,436 150,814 225,341 436,801 538,187 907,113 1,142.066 92.929 122,549 198,810 279,812 361.397 181,460 629.256 390.844 43,981 75.929 108.860 177,563 20,154 17,991 47,326 66,432 16,910 16,455 34,529 31,717 71.558 91,113 174,011 203.523 11,255 14.599 22,846 27,170 22,738 28.602 40.581 55,895 13.088 12.514 26.805 26.491 54 25 145 158 2,064 2,556 4,546 6,619 202.963 268,169 421,940 602.642 42,182 62.727 87,656 137,417 98,525 79.629 187,133 123,660 346,678 464,648 761,532 1,045.961 75.037 96,798 158,105 234,275 147,25Q 134,653 280,342 231,404 90,123 =73.530-145,581 96,105 --".57761 0:70g -45T537-214.147 46,807-348,914-459744d 11,150 13.700 25,300 27,400 5,840 6.074 12,190 10.857 14,000 10,000 28,000 20.000 550 104 534 372 51 88 60 119 78,423 59,735 119,747 68,333 12,001 19.589. 28,455 34.561 _200,147 36,807 320,914 139.440-62,820--357190 ----82T4213 =30.140 2,660 9,313 10,82' 9,680-116,82i 10,696-184,74g--86.9513 461 461 461 461 256 255 256 255 61 61 61 61 Chicago Rock Island & Pacific Cumberland Valley &Martinsburg Detroit Tole do & Ironton -Month of February--Jan. 1 to Feb. 28-3 6.121.492 6.511.895 12.031.841 13.538.553 96.163 110.000 186.648 232.300 598,624 163.897 1,020,031 385,082.. 1.794.187 2,251,519 3,820.468 4,873,001 5.866 3.189 12.419 9.748 8.730 14.848 18,232 29,025 Tot.. ine.l. other rev. 8.532.715 9.395.340 17.100.951 19.835.567 104,369 115.517 203.558 248.701 616,586 190.172 1,056,022 438,597 1.187.147 1.179.228 2.473.654 2.819.586 5.346 10.014 11.990 20.767 71,356 72,249 117,511 175.839 1,821.865 2.034.654 3.847.396 4.461.729 16,099 23,896 33.079 53.479 106.233 74,729 187,358 155,661.. 164.763 174.911 344.813 352.738 615 656 1.577 1.319 7.131 6,529 11,491 13.951 3.874.315 4.397.476 8,027.859 9.647,683 30,992 41,186 60.821 96,764 220.137 126.741 412.483 285,967 Tot.exp..ineloth. 7,275.544 8,094,261 15,181.492 17,910.033 55.285 77,726 112,098 175.968 422,437 295.094 764,464 665.100 Net from railroad.. _ T257:171 1,301:076-1.9197459- -1:925.534 40.0rt 37-.79i -917-4-6o' =72.733-194,140 =-104.922 =291-.55g =226,50 525.736 469.955 1,040.608 927.828 3,199 2.774 7.492 6,498 14.900 9.770 28,428 19,540 552 1.425 2.109 2.221 2 2 15 230 Net after taxes. &c_ 730.883 829,699 876.742 995,485 45.883 35.017 83,966 66,235 179,249-7114,707 263,130-146,273 4897346.-3-96T151 3-5-6-740 242.691 41.769 2r351-53-47 54,524-131,538 154,691 '=311,370 Aver. miles of r'd over. 7,661 7,662 7,661 7.662 33 33 33 33 454 454 454 454 Chicago St Paul Minn & Omaha Delaware & Hudson Duluth & Iron Range -Month of February--Jan. 1 to Feb. 28- -Month of February--Jan. 1 to Feb. 28-3 1.370.685 1.382.708 2,745.527 3.028,222 3,208.578 3.150.653 6,018.922 6.7E37.317 6.417 201.727 13.127 34.141 _ 442.086 559.352 914.721 1.188.279 253.423 275.535 551.638 592.750 15.127 27.844 31.883 61.321 1.921.077 2,064.651 3.893.668 4,464.836 3.807.685 3,578.416 7,221.609 7.660.763 93.282 260.618 193.070 459,268 Expenses--MaInt.way 241.536 184,392 525.545 391.845 359.005 480.277 744.340 892,954 46.551 64.362 88.450 132,443 Maint. of equipml.. 322.939 621,421 749.095 1.100.870 868.318 1,132.480 1,762.309 2.346.295 86.942 125.900 168,917 237,233 _... 31.645 36.812 66.764 72.232 42.537 42.041 ' 84.822 79.363 883 1.853 2.0132.861 1.011.120 1.234.713 2.098.547 2.555.413 1,361.044 1,755,824 2,761,421 3.673.215 103.869 192.865 213,151 380.525 Tot.exp..incl.oth. 1,685,943 2.169.737 3,598,907 4,398.841 2,823.573 3.589.378 5,747,475 7,358,143 255,065 410,328 504,446 799.517 Net from railroad =235:134-105:08g-294767f 65:995 984,112-1-079n 1,474.137 --302:820-0E181-149.7147-1-1173-7' -=-340724-3 129.268 127.321 253.852 262.481 85,674 84,087 154.874 226,800 6,207 21,008 12.748 33.164 tincollectible revenue_ Cr189 3.495 654 4.725 12 Cr3 35 63 Net after taxes. &c.. 106,055-235.902 40,165-201,211 898,438-95.049 1.319,248 75.823-167,9.90-170,753-324,124-373.476-70.508 `=301.-60d =147895 =-281,849-9347231 888 i38 1,384.3? 136002 =-1.6373n =1767006 71:32100S 7:-=-3861-33 1,749 1,749 1.749 1.749 887 880 887 880 294 291 294 291 Cincinnati Indianapolis & West Delaware Lackawanna & Western Duluth Missabe & Northern -Month of Feoruary- -Jan. 1 to Feb. 28-3 3 3 3 3 287.918 184.817 541.566 401.897 4.456.779 4.599.371 8.83.523 9.719,089 51.107 131.248 121710 268,103.. 44.638 52.369 94.062 115.383 963.252 1.031.842 2.042.286 2.206,955 34.925 53.124 73.112 113.068 349.416 245.671 669.495 542.562 6.072.949. 6,168.813 12.266.540 13.103.861 98.430 208.037 224.685 425,180 Expenses-Maint way 32.424 33.007 69.315 73.825 505.135 656.367 1.064.243 1.227.468 79.941 183.663 147.356 300,295 Maint. of equipm't_ 72.305 81.288 142.739 165,085 1.342.247 1,636.461 2.714.680 3,316.899 112.191 210.146 238.092 426.518.. _ 12,745 14.378 22.740 28.333 107.077 103.722 218.162 209.012 2.493 3.344 5.636 5.389 161.920 142.351 321.369 302.515 2.512.5110 3.114,876 5.2'37.611 6.539.161 141.191 197.322 288.292 382,299 Tot.exp Ind.oth. 304,349 296.888 602,688 626,222 4,671.284 5.747,533 9.678.260 11,768,602 356,879 617,542 723,375 1,160,473 Net from rallroad.. 4506 5i21 67807 -=83.660-1774017681 421728d 27588286 T335.259-25-8, --4,4-4007505 -498.69-35.293 13.542 15,343 29.016 32.963 476.495 380.126 952.990 760,253 63,108 14,581 108,282 29,212 UncollectIble revenue.. 17 17 666 56 1.314 ' 63 5 6 Net after taxes. 31,525-66,577 37,791-116,640 924.504 41.098 1,633.976. 574.943-321.562-424,086-606,978-764.505 7,304-68,951-4,27f 7=114.894-925,515 89.080-1,609,478-660.649-323,7i)' -42L23-66-87256=7. 68,85f 321 321 321 321 994 994 994 994 405 406 405 406 Colorado & Southern System Denver & Rio Grande Duluth South Shore & Atlantic Colorado & Southern -Month of February- -Jan. Ito Feb. 28-781.325 724.080 1,474.862 1.840.763 1,727.008 1,808.866 3,542,963 4,095.891 155,688 2747,039 310.662 510.008 _ 126.133 203.640 273.105 377.957 351,187 454,877 712,403 980.699 65,545 85,148 152,455 197,587 978.526 993.525 1,880.358 2,372.722 2,214,113 2.413.107 4,546.092 5,394.486 247,795 388,237 515.586 771,07-3 Expenses-Malnt.way 64.516 92.518 170.962 211.479 306,556 254,239 585.456 564.546 47.467 48,991 91.439 126,151 Maint. of equipml_ 220.601 328.029 486.672 663.660 374.325 853,825 741.680 1.716,833 63,296 98,128 121,099 228.569 Traffic expenses_- _ 14,836 12.150 32,004 23.306. 46,557 37,445 88,479 83.987 6,262 8.502 14.048 15.651 380.615 391,362 751.714 854.004. 787,031 918,865 1.640,890 2,006,735 167.898 230,765 351.431 479,258 Tot.exp..Incl.oth 730,436 882.518 1,544,344 1,874,968 1,626,668 2,189,927 3,291.287 4.636.434 300,249 407.691 611,065 893,5N Net from railroad... 248:401 111-.--0-01 336-,---ou 497,7a 587,445 223.180-1,254,80d - 758.052-52,454-19.354-45.479' =122,48d 64.182 83,908 128,365 157,268 155,000 150,000 310,000 284,000 27,000 25.000 54.000 50,000 118 93 379 780 251 80 474 244 Net after taxes, dtc_ 183,790 27,006 207,276 339,706 432,194 73.100 944.331 473,808-79,454 --44,354 --149,479 --172,486 16373-01 "--1-1374-01 189.43T 4347394 461.368 143.710 1,016.385-590,783 --80,660-64-A84 7=152.53g 774202,591 1,099 1,099 1.099 1,099 2.593 2,585 2,593 2,585. 591 591 591 591 Fort Worth & Denver City Denver & Salt Lake Duluth Winnipeg & Pacific -Month of February--Jan. 1 to Feb. 28-.. 3 500.627 571.816 962,822 1,284.966 113,316 140.715 205,772 314,441 126.545 274.052 265,978 548,403 142.844 194.607 319,441 438.669 13.720 17,742 28,583 38,256 16.747 41.775 37,427 85,764 Tot.. Ind. other rev. 679.007 799.292 1,351,838 1,805,505 134,881 167.639 249.450 369,610 148,250 322.054 316.427 649,147 Expensee-Maint.way 68,576 76,882 149.589 170.911 20.745 41.364 40.056 88.708 22.947 27,533 45.320 55,070 142.781 162.653 292.024 401.438 39,267 74,616 63.183 159.972 43.740 58.892 78.204 95.784 9.642 10.661 21,678 23,149 911 940 1.756 2.142 5.868 5.908 11,296 11.391 239,393 323.926 502,568 773,168 53,889 90,620 100.361 207,768 79.655 155.645 160,841 309.798 Tot.exp.,Inci.oth. 502.699 620,509 1,050,579 1,459,323 120.786 215,709 217,586 473,761 157,824 258,585 306,789 499,243 Net from railroad --T78780-8 178,7 1 3-01:2-59 3457182 14,095 77--48.070-31.864 =104,151-97571 =63:464 9,63' =1-49.90i 32,077 31.663 63,718 63,326 9.000 8,000 18,000 16,000 7.416 16,102 15,827 32,458 48 195 66 468 7 6 111 1 11 7 54 Net after taxes. Ac.. 144,183 146,925 237.475 282.388 5,095-56,077 13,858-120.262-16,991 47,356-6,196 117,392-1,-,-66-1 175,871 249,155-315-,758 9-,597-2151-;664-23,07g =118,024 46-,51/ =:--10,420' =115.74d 454 454 454 454 255 255 255 255 178 178 178 178 Trinity & Brazos Valley Detroit & Mackinac East St Louis Connecting -Month of February--Jan. 1 to Feb. 28-3 294.017 15 1,096 720,116 318,533 61.821 86.622 127.286 161.067..._ 20,635 14,812 44,942 37,158 22,074 25,431 52.410 62,785 327,787 172,913 791,599 420,871 91,953 120.943 195.217 241.227 131.302 115.445 263.115 256,775 Ezpenses--Maint.way 72.898 47,741 181,103 105.298 19,726 27,598 38.990 48.304 10,082 19.977 25,092 43.491 Maint. of equipm't.. 57,362 49,761 137,973 109.420 46,708 36.363 98.260 90.824 8.207 9,478 11.942 18,090.. 2,983 3,295 6,356 6,747 2,177 3.421 4 719 5 894 291 338 635 674 109,118 83,214 268,809 204,985 51,664 72 222 113.444 146,321 56,109 69.165 117.051 159,168 Tot.exp..incl.oth. 254,431 194.591 617,309 447,056 125.668 146,151 266,635 305.495 77,239 102,505 161,029 229.231 Net from railroad.. -73,35-d "---- -21,678' 174,29d -=26,185-33,716-25.20d =-71.418-64.268 4.0t1 12.9-1132-.61-27:M 7.000 6,700 14,000 13,400 11.000 9,223 22,004 18,613 5.054 2.665 10,108 5,329 TJncollectible revenue.. 11 15 ór40 66,345-28,378 160,275, -39,585 --44,715 --34,431 --93.422 --82.881 49.000 10,275 91,978 22,255 Net after re tts -18.037-37,751 --25,618 --63,565-48715-1-2876a -6025-654 7r= Aver. miles ;fed over. 368 368 368 368 385 374 385 374 1 3 1 3

6,469 APRIL, 1922.3 RAILWAY EARNINGS. ; 7.... Tot.. Wel other rev. Maint. of equipml_ Tot.exp..incl.oth. Net from railroad.._ - Tot., incl. other rev. Exioenses-Maint.way.. Tot.exp..incl.oth. Net from railroad.,..._... Expenses--Maint.way Maint of equipm't-... Transportationexp. -- Maint. of equipm't. -- Tot.exp..incl.oth. Net from railroad.... Maint of equipm't.... Transportationexp_...-. Net from railroad..., Aver, miles of r'd open Tot., Incl. other rev. Expenses--Maint.way... Net from railroad... - Avemiles of I'd oper.r. Elgin Joliet & Eastern -Month of February- -Jan. Ito Feb. 28-1,512,753 1,948,763 2,875,370 4.215,100 4 3 0 1.644,366 2,156.699 3,112,006 4,759,320 110.100 166,129 225,713 358,078 302,044 474,644 630,670 1,004.803 13.990 14,404 26,362 28,885 474,771 713.070 955,713 1,565,950 932,624 1 407,275,j 04.26i 3,041,617 =-711,742 749,424 1,207745 1.717,703 82.573 71,419 165,146 138,874-1,324 285 630.493 678,005 1,04_2599, 1,578,544-534-;076 572,646 860,175 1,271,665 839 836 839 836 El Paso SI Southwestern 567,200 742,077 1,105,890 1,501,186 173,143 234,185 337.845 497,401 786.549 1,029,579 1,540,490 2,117,348 139.872 228.802 271,043 507,635 141.853 200,991 252,913 477,493 25,643 32.285 56,159 62.114 191,513 304.767 405,847 665,004 550,241 83233 1,683,257 1,843,874 236.306 197.546 4-57.233' 273.474 99,174 104,355 192.040 208,710 207 411 310 137,13292,984 264,782. 64,454 130.027 94.789 251,813 57,860 1,139 1,027 1,139 1,027 Erie System Erie 1922. 921.1921. 6.273.640 6.573,049 11,895,504 13.193.212 920,169 1.044,535 1,971,425 2,242,062 7.658.078 8,085.395 14,835,328 16.485.014 655.110 776.219 1.359,546 1,672,031 2,104.830 2,461.445 4,155,331 5,309,016 126.764 128.770 270.462 259,657 3,221,873 3,838.520 A,780,091 8,497,867 _6,417,957 7 547,052 13.203,933 16,451.733 Net from railroad.. -1,240.121 I-538.34i -1,631.395' - 33,281 273,775 309.591 460,687 599,474 2,620 936 7,679 2,142 963,726 227,814 1,163,029..== -568,335-987.142 360,409 1.480-.17f 104,024 1,989 1,989 1,989 1,989 Chicago & Erie 758,920 694,008 1,504.821 1,446.845 39,712 58.283 91,921 133,610 842,658. 796,328 1,692.916 1.671,959 88.005 98,757 193,231 218,006 115.709 134,865 248,337 320,173 17.969 18,951 38,131 37,809 426,899 540,787 859,035 1,192,146 685.062-142 A-5-1,410,808 1851,263 157,476-37.657 282.108-179,304 53,668 43.750 101,218 87,500 2 4 3.103,806-81,407 180,886-266,807 249,245-372,342-373,979' -895.336 269 269 269 269 New Jersey & New York 1,301 1,583 2,517 63,233 70,891 135,828 146,885 98,16Q 111,084 206_,687 220,879 Net from railroad...-. -15,391-3,976 21,826 f,041 3,000 2,916 6,000 5,8363 6 10 12,393-6,898 15,810-4,798-13:687-42,667 Aver. miles of r'd open -29;22-g -61,987 47 47... 47 Florida East Coast -Month of February- -Jan. 1 to Feb. 1922. 1921. 28-- 1922. 1921. 3 681,773 768,655 1,340,131 1.633,531 615,695 674,126 1.059,448 1,214,667 1,443.149 1,640,765 2,652.685 3,190,212 160.955 206.861 334,832 419,562 179,615 200,568 391.987 431,965 17,532 15,325 42,957 43,618 391,337 519,466 806,522 1,088,584 802.906 999,623 1 656,340 2,981,788 640:246 64111-42 99634g 17108,424 46.719 47,519 95:8352 2 95,037 2,209 49 591,315 593,623 897,661 1,013,338 =-544,018 54-57854 804,611 921.561. 764 764 764 764 Fort Smith & Western. 1912. 1921. 1922. 1921. 81,980 14,372 163,802 249,011 17,865 24,507 36,281 54,995 107,493 141,172 216,844 326,242 25,265 34,633 47,850 80.938 23,323 41,765 48,504 97,800 434:388287 5,044 9,777 10,567 68,336 89,823 145,460 104,527 160,599 211,719 356,123 2,966 "'"=-175:42/ ''''''-5711-23' :=4-5Tar Galveston Wharf 101,041 192,170 205.938 444,302 56,698 33,496 113,664 75,115 4,365 5,450 8,780 11,537 669 647 1,525 1,337 25,075 33.808 56.945 81.367 108.026 98,763 226.481-224,807-6,985 ".----01:407-20,543' 216,495 17,000 17,000 34,000 34,000 2,032 2.032-26,017 76,407-56.575 185,495-25,684 T5831i -56,174 P847303 13 13 13 13 Georgia 230,832 280.557 460,109 537.550 79.427 107.687 172,833 245.626 333.723 418,763 675.041 846.974 34,138 52,123 70,409 119.624 61,573 126,932 133.144 250.381 19,850 21,894 40.100 43,179 185,269 243.506 392.278 527.451 320,728 463,150 674,854 981.153 12.996 "- - 187 7-1.34.179 7,020 5,950 13,694 11,949 367 105 382 105 5,608-50.442-13.889-146,233 10, "=-73774-84 -158 --110,0-5 328 328 328 328 Georgia & Florida 82,420 70.836 153,381 142,912 11.277 16.616 24.453 37.937 101.480 16.975 20.376 7.082 40.944 95.343 27.756 17.105 6.966 57.281 193.152 34.619 40.665 16.259 86.483 196,420 64.703 45.356 14,287 119.784 92,112 117.288191.424 262,141,..._...- 11:368-21945 1.72-8 -657721 6,249 7,680 12,445 15.459 36 10 85 19 3,083-29,635-10,802-81,199-4,599-34,651-22,958-88,533-405 405 405 405 Grand Trunk Western Atlantic & St. Lawrence RR -Month of February- --Jan. 1 to Feb. 28-277.722 276,773 505.864 593.850 32,615 42.336 67.704 85.373 323.222 24.825 43.296 2,944 151,999 337.160 36,839 50.064 3.955 215.768 600.250 53.021 94.534 6,658 308.797 713.133 73.172 133.513 6.640 442.943 239,080 327.603 490,866 686.931 ===-847142 957.=-131T4 26.202 16,900 19,204 33,800 58,409 44 44 67,198-9.647 75,540-12,207-07466 -105780 =f r7:488-1877030 166 166 166 166 Chicago Detroit & Canada Gr Trunk Jot. 1912. 1921. -Month of February- -Jan. 1 to Feb.28-1922. 1921. 21.142 17,840 38,558 29,148 161,322 141189 329,097 322,169 88,630 86,355 180.842 183.981 7.348 14,467 21.885 26,467 113.553 107,108 228.507 221,920 180,694 182,461 382.305 12,032 16,068 25.818 25,710 10,954 12,359 23.097 19.053 10,760 36:662026 2 40,765 14,849 16,177 20.868 3.374 1.942 7,413 59.448 70.099 126.789 5,80204 5,500 11,600 11,000 104 92 314-2,858-25,031-6,567-41,195-21,081 --46,047 249 253 249 253 -iato 718T..."1467435 Great Northern -Month of February- -Jan. 1 to:feb. 28-, 1922. 1921. 1922. Illiii11921. ail 4,139,638 4,024,378 937,216 1.215.411 8,35'7,134 1.998.558 v 8.249,483: 2.593.728-5,703,628 5,864,482 11.599,845 12.143.727 772,946 813,797 1,400,065 1.752.819' 1,205,483 1,592,988 2.650.115 3,426,661 118,518 143,705 238,578 fr 280.473: 2.916.897 3.233.486 6.035.656 6,833.887 5,261,582 6,048.384 10,913.747 12,785.608 442,046 --183,901 686,098' -641.884 491,830 761,425 1,067,968 1,825.945 2,110 1,995 3,526 4.219-31.895-947,322-385,396-2.472,050 12,397-894,649-241:747-2,440A 8,265 8,170 8,265 8,170 Green Bay 8; Western 386.704 1,058,942 699.838 1,997,237 1.652.821 28.356 94.392 131,237 196,082 280.410 45.833 209,557 413.939 395.822 962.115 4,233 13,378 11,912 24.886 23,148 146.571 363,439. 332.5E8 718.868 782.159 92,670 104,943 185.866 239.146 710,129 924,916 1,396,550 2,120.200 147.558 348,81J -22-57- )76 600.681-4671373 7,231 4,596 14,462 9,193 90,603 85,091 181.205 171.576 1 4 82 134 29 80,792 72,922 181,973 138.365 258,128-310.169 419.348-638.984 54,461 And.-111,547 93,120-282750 -2A7196 40C9kei -42/.24 350 350 350 350 62 62 62 62 Detroit Grand Haven & Milwaukee 1922. 1921. 19,22. 1921. 266,666 22/295 525,671 4747.295 31,764 38,847 70.684 93,847 319,848 294,107 645,284 636.954 24,170 27,492 62,731 87.735 46,479 45,813 67,056 124,276 8,108 6.630 15.057 14.164 204,273 172,345 395.160 399,089 300,869 267,413 576,975 673.951 18,976 "'"' 26,694.-.68,308-3A7S0.7 7.070 3,088 14.141 6.177 90 Cr21 272 27 11,819 23,627 53,895-43,201-500 ' -28,938-73,854-146,921 194 194 194 194 Grand Trunk Western 884,264 683.840 1,683.552 1,763,637 122,253 157.968 280.351 369,518 1,080,641 902,160 2,093,422 2,266.100 61,446 114,870 167,314 251,493 280,021 206,805 481,601 601,551 25,382 24.140 57,254 54,807 534,817 520,878 1,111,535 1,171.549 961,115 927,831 1.934,063 2,276,045 119526-251371' 62,930 51,084 125,859 226 Cr13 374-9.945 102.168 83 56,370-76,742 33,126-112,196-10,124 ra-mg l'=1487881' --6567660 351 352 351 352 -Month of February- -Jan.1 to Feb. 28-73,642 84,137 152.595 177.100 16,785 18,266 36.884 40.038 97,939 111,539 203,498 234.030 17,130 12,962 33,049 27.110 15,952 22,929 32.092 55.238 2.223 1,887 4,003 3,982 39,003 46,562 85.866 97,398 77.323 87.451 160,691 191,969 20,616 8,000 24,088 7,000 42,807 16,000 42.061 14,000 12.616 17,088 26,807 28.061 8,284 11,902-177485 20,494 262 252 262 252 Gulf & Ship Island 169,806 163,957 331475 331.001 33.421 40,428 72.607 95,506 215,650 220,094 434,944 457,027 41,612 44.206 85,663 89,712 37,947 40,679 78.782 91.929 6.715 7,643 13.933 16.817 65,946 91,143 140,885 187,136 163.465 196.271 342.612 412.874 52,18g 23,823 92,332 44,153 20.757 20,847 41,769 41,695 44 74 42 31,384 2,976 50.489 2,416 25,497.--- 39,428 18,51 307 307 307 307 Gulf Mobile & Northern i 270.164 282.969 551.019 599.788 32.174 43,085 69.309 97.668 314.137 339.544 643.965 7277121 50.470 68,796 107,422 145.121 54.966 69,111 108.518 144.112 12.341 11,907 26.891 23.085 110.452 169.259 232.216 243.312 335.616 508.656 _40_5_6 315. 703,253 6825 3,923'--1-35-.3-01 23.874 17,281 15,810 33,279 29,363 5 9 5 53.535 --11,887 102,021 ---5,493 431284 --071l ---13-4.t0o -101880 438 436 436 463 Hocking Valley 940,686 76,891 560,069 107,353 1,752.721 163,548 1,348.115 222.525 Illinois Central 9,066.687 7,902.930 17.731382 17.684.690 1,761,343 2.034,678 3.670.942 4.405.245 11.516.003 10,787,230 22.715,101 23.665.429 1,248,589 1.385,441 2,610.779 2,813.021 2.254,591 2.341,500 4,706,007 4,977.598 180.448 159.576 387,858 312.434 4,166.665 4,562.972 8.503.678 10.112,741 8,183.616 8.823.878 16.872,843 18,974,317-272-3/730 1,963-.MT22-0, 1.023,952 584,012 1,951.019 1.422.024 2,163 514 3.779 733 2,306,272 1,378.826 3.887,460 3,268,355 2,302,36i 1,519,83g. 3,936,103 31573.363 4,784 4,799 4,784 4,799 International & Great Northern s s 7f2.583 1,0413,241 1,459,146 2,325.352 180.131 247,251 372.238 561.696 1,001.660 1,406,563 2,038.020 3,157.911 144.668 225,129 314,158 447,060 177,895 277,925 350.356 713.085 25,796 26.653 51.620 52,130 476.996 841.716 1,006.327 1,850.975 883.864 1,435,417 1,833,182 3,189,772 11716A `--0178-Tg -31:861 32.500 31,480 64.863 61.480 548 1.293 4.520 1,373 84.748-61.627 135.455-94.714 36.156 =1891386 26.1T1'-356,f& 1,159 1,159 1,159 1,159

8 RAILWAY EARNINGS [VoL. 114. Maint. of equipm's.. _ Tot.exp.,Incl.oth. Net from railroad _ Tot., Incl. other rev. Expenses--Maint.way.. Tot.exp..incl.oth Net from railroad... Net after taxes. &c.. Aver, miles of r'd oper. Expenses--Maint.way Tot.exp.,IncLoth. Net from railroad Net after taxes, itgc_ _ Tot., Ind. other rev. Toexp.,ine.1.oth. ket from railroad._ " Net after taxes. &c_ Aver. miles of r'd over...._ Tot., Ind. other rev. Tot.exp.,incloth. Net from railroad Uncoliectible revenue_ Net after taxes. Sze_ 'Tot., Incl. other rev. _ Net from railroad -_ Aver. miles of r'd over. Tot.. Ind. other rev. Expenses--Maint. way Tot.exp-incl.oth. Net from railroad.._. 17ncollectible revenue_ International Ry. Co. of Me. 2347,205 241,884 444.734 539,673 30.552 52,838 66,454 120.763 285,117 311,474 544.922 694.321 22.929 33.184 44,545 66,519 65,536 47,326 117.543 103,469 4,025 3,495 8.503 7,290 157,800 166,887 296,677 372,333 254,180 254,712 474,022 557;768-3079-31 56.762 70,900 136TW3 16,000 15.000 32.000. 30,000 14,937 41,762 38,900 106,553 1,080 27,87/ ' 4,744 76,872 233 233 233 233 Kansas City Mexico & Orient RR 95,939 107,840 185,845 216,132 7,975 10,758 18.001 23,450 113,317 24,193 26,870 2,513 58,788 126,568 28.063 50,625 5,271 61.967 220,759 51.429 53.894 7,408 123,908 254.720 62,752 105.109 10.182 143,414 119,060 158,810 249,521 347,831-5, 4 - -28.762 -T=WITT 8,320 8,040 16,640 16,080 3 30 3 30 --14,066 --40,312-45,405-109,221-11,971 --23758i ' --407344-92,676 272 272 272 272 Kans City Ilex & Or Ry of Texas 98,261 124,351 187,605 259,255 8,310 12.847 19,616 31,554 144.325 219,718 303,640 39.850 54,790 93.807 59,496 76,364 94.379 5,375 8.499 10,799 104.852 152,762 197,251 113,087 25,919 29,501 3.935 76,756 142,448 214,967 304,941 415,050 --29,3AT --=70,642 --MAW 6,000 6,150 11,987 12,300 39 25 39 25 --35,400 --76.817-97,249 --123,735 --4170 =-1-=0747853-124,371. -141,34-8 465 465 465 465 Kansas City. Southern System Kansas City Southern - 1922. 1921.. 1922. 1921. 1,127,956 1,343,777 2,210.052 2,777.022 149.341 178.604 300,605 395,001 1,386.829 1,640,061 2,715.925 3,406,400 154,052 184,819 307,114 373.727 269,487 258.645 532,412 536,226 35.578 34,518 74,013 71,899 515,697 630,348 1,006,960 1.340,325 1,039,403 1,477,092 2055 253 2,460,671 3477-42-6 482-.960 660,672-945,729 100,219 76,019 200,437 153,667 331 526 1,117 742 246,876 386,424 459,118 791,320 230,677 3587,-878 463.974 762,283 779 779 779 779 Texarkana & Fort Smith 117,262 146,479 292,709 325.392 Lake Superior & Ishpeming 1,033 6,041 2.569 14,219 89 270 212 613 7,646 2.987 17,701 19,722 48,667 40,743 23.607 15,744 46,931 253 414 516 9,821 18,004 22,298 1,088 33,671 8,106 209 9.109 53,560 56,433 88,324_ 119,603-52.473-48,786-85,337-101.902 5,358 5,196 10,717 10,130-57,830-53,982-96,054-112,032-55,607-52,973-93,897- -108,791 33 33 33 33 Lake Terminal -Month of February- -Jan. 1 to Feb.28-33 242-2.564 5442 2,316 41,722-602 77,888 1,470 13 13 13 13 IIMIN1111 1 MCM912112 M 1111.====x11,1 Lehigh & Hudson River 211,211 244.117 402.636 488.019 3.723 3.948 8.253 8,355 223,984 256,370 428.902 513,415 21,627 25.266 50.354 59,533 46,762 55.216 96,639 112.918 1,631 2.068 3.013 4 391 1 63,952 31,808 81.444 _40,213 42,797 12.065 3-044 -5,201 96 96 96 96 Lehigh & New England 380.876 340,770 725,970 595.572 2,013 2,160 4,268 4,321 Louisiana & Arkansas 1912. 1921. 1922. 1921. S 201,297 199.974 381,771 507.006 30.523 31.967 62,934 72,548 237,518 249,137 455,940 603.835 52,615 49,795 98,220 119.494 45920 63.040 95.097 125.567 7,256 6.760 14,454 13.030 81,727 99,311 163,715 231,935 194,648 227,894 386,664 508,503 42.870 21.243 69.276 95.332 19,015 17,106 38.505 34,758 8 55 282 489 23,547 4,082 30,489 60.087 21,873 4.348-30-,135 50;398 302 302 302 302 Louisiana Railway & Nay Co 2047,957 199,647 400.459 533,769 29,210 31.334 60,846 62.974 87,524 124,995 169.370 276,749 249,944 254,758 489.144 641,113 4,487 14,587 8.591 35,087 64,045 86.690 106,363 176,639 6,811 29,926 14,128 57,155 33,052 37.478 70.419 108,551 8,074 9,980 17,429 20,027 36.625 75,914 74,457 169,869 110,070 136,429 225,665 331,125 47,946 121,435 97,255 262,286 226.602282,792 442,405 661,388 39.578 3.560 72.115 14-,-463 -inn -28,034.--77-2-0-72- 6,336 6,124 12.673 12,147 16,000 16,000 32,000 32,000 36 91 54 135 7,306-44,125 14,685-52,410 ===ilicnti -5'-i7.07-21,578-9T3750 343 343 343 343 Louisville & Nashville - 6.998,231 6,249.630 13.511,185 13,429.496 1,650,100 1,816.341 3,374,909 4.212,658 -.078,606' 8,520,179 17,678.068 18.662.361 1,402.111 1.262,853 2,825.872 2,753.990 2,306.831 2,913,433 4,505.315 6,219,726 231.527 216.006 453.699 439,592 3,653,645 4,778.061 7,412,873 9,732,143 7,853.938 9449,589 15,796,698 19,728,922...---. L224.668-929.410 1,881,370-1,066-.561 303,165 304.301 606,336 607,242 460 2,595 1,409 2,713 921,043-1.236,306 1.273.625-1.676,516 088 136-1,402.035 1,335.964-71--,-986.458 5,038 5,043 5,038 5.043 Louisville Henderson & St Louis 150,388 147,878 287,704 298,599 49,143 54,154 105,106 120,935 209.915 244,648 413,158 478,867 40.934 43,109 86,962 96,882 45,644 37,095 85.587 77.172 6,147 6.256 11,882 13.024 73,090 118,413 163,678 255,533 75,668 95,446 155,182 192,608 149,854 208,860 327,102 448,900 176,280 191,035 355,84 398,010 74.130 47.510 101.806 64.515-33,6-3 53.613 8-7,331 "- 80,844 10.178 15,702 20.356 24,302 8,750 7,368 17,500 14,736 20 29 29 38 24,865 46,216 ' 39,8?,2 66,074 15,61 30,774 23,422 :4,798 199 199 199, 199 Maine Central s s s s 1,166,919 1,295.631 2,272,115 2.787,621 290,887 331.121 602,035 705,624 13,086 17,739 27.057 37,939 161,770 176,474 313.832 388,950 388,969 354.909 741.835 626,444 1,550.834 1,731,083 3,073,446 3.700,052 11,813 7,725 28,460 29,168 33,617 40,547 62,736 75,324 210.143 251,623 483.536 531.408 24,747 15,754 53,676 32.807 188.175 67,927 424.897 151,564 361.154 420.949 667.767 858,801 4,918 4.996 11.025 8,975 7.762 3.427 13.096 9,225 10,575 12.774 22,817 29.534 48,301 89.916 101,989 164.082 138,263 133 869 266,448 276,507 735,295 1.036,554 1,486,249 2,254,072 97,724 125,754 211,137 250,486 64,04 50;720 12,605 173:c.-i--.-464 10,524 7,353 21,047 14,706 94 24 97 24 53,428 43,343 111,551 123,731 41,084 ----376Dg 8f,-37' 41,907 93 93 93 93 Kansas City Terminal. Gr17 Cr35 Cr17 Cr35 27,715 371 26,510 55,591 35 53,020-27,698-26,475-55,574-52,985 197,bn 192,76-6 T2 2727 27 27 27 Kansas Oklahoma & Gulf Formerly Missouri Oklahoma & Gulf -Month of February-7 -Jan. 1 to Feb. 28-1922. 1921. 1922. 1921. 171,727 202,227 358,940 445,735 10,450 18,680 23,695 43,435 189,556 228,786 397,836 507,506 36,769 55,242 79,974 119,685 23,257 50,307 49,377 103,656 4,719 4,352 9.950 8,934 75,503 94,932 157,539 212,641 150,089 215.528 316.710 467,050 1,23g 81,12' 40,456 9,187 8,500 18,373 17,000 8 6 9 17 30,272 4,752 62,744 23.430-2V MI -1- - Z -5 - Ii/ 4407 -Iti:iriti 314 329 314 329, 382,691 202 253 797,924 545,967 6,278 92.656-587089 80,477 15,453 15,453 30,006 30.906-9,175 77,203-86.995 49,571 7,037 237 87,115-53,576 237 237 101,074 237 Lehigh Valley 4,638,326 4,597.551 8,907,433 9,568,124 446,898 531.418 966,737 1,159,358 5.392.208 5.517.829 10,528,299 11,553,790 486,860 525.926 995,819 1.196.333 1,431,490 2,281.858 2.786,449 4,467,090 102,629 104,262 205,951 205,526 2,350,! 67 2,791,792 4,832.609 5.950,703 4.510,486 5.838,942 9,100,026 12,130,441. _ 881,722 ---3-2-1:413 1,419,273 ---576.651 239,507 214,000 464.507 428,000 141 97 Cr18,166 566 642.074-535,210 972,932, 7_1,005,217 561,165-402,242 883,979 =923;484 1,448 1.448 1,448 1,448 Los Angeles & Salt Lake 3 932,416 916,989 1,890,809 1,895,404 311,993 438,401 696,496 1,027,486 1,367,178 1,482,154 2,840,718 3,195,308 249,096 300,453 512,132 603,148 345,449 326,120 674.795 717,116 40,554 46,544 84,083 114,907 515,146 542,245 1,076,378 1,234,761 1,229,832 1,298,572 2,510,245 2.932,610 1 f,/,-3-17) 183,582 -,16:71 22,168 110,617 91,600 217,944 193,824 19 94 19 226 26.710 91,888 112,510 68,618-24,790 67,200 ----rars 15,537 1,159 1,168 1,159 1,168 1,366,829 1,767,434 2,745,577 3,787,789 184,005. --36,351 327,866 --87.73/ 99,051 105,559 198,103 214,379 33 82 43 82 _ 84,921-7141,992 129,723-302,198 -=-62.060-2007736 103-;-611-405-.974 1,215 1,215 1,215 1,215 Midland Valley 1922. 1921. 1022. 1921. 257,139 244.690 502,803 562.897 55,871 78,651 119,557 177,661 323.985 337,067 643,481 773.371 39,312 79.471 83.978 190,225 39,665 67.468 95.164 150,514 4,634 4,596 9.129 9.919 107.651 129,098 221.717 288,444 204,573 296,852, 434.144 605,080 119.413 41.115 209,337 78.291 11,740 8,161 23,480 16,321 117 18 117 43 107,556 32,936 185,749 61,927 103,404-25,941 171,977 46,992 383 388 383 388 Minneapolis & St Louis, s 1,090.640 918.004 2,166,940 2.111.072 140,291 204,638 309.453 430,154 1,288,166 1,177,752 2,585,494 2,655.646 161.133 137,206 327,211 282,333 230.322 335,603 469,616 712,118 23,965 21,450 47,913 46,793 606,836 679,484 1,213,351 1,479,818 i.062,279 1,218,392 2.138,645.,g,613,004 225,887-40.640 446,84-9 42,642 61,569 74,739 124,577 147,60 73 72 90 223 164,245-115,451 322,182-105.=._.. 106 88.425-132,137 211.626 1,649 1,650 1,649 1,650

APRIL, 1922.] RAILWAY EARNINGS 9.-- Tot.. Incl. other rev. Expenses-Maint. way Melia. of equlpm't_.. _ Tot.exp.,inci.oth. Net from railroad.. Net after UMW, &C. Aver. miles of r'd oper -. Traffic expenses.." - Net from railroad_ Net after taxes. Ac.. Netafter rents... Expenses-Maint. way Malta of equipm't- Tot.exp.,Inci.oth. Net from railroad... Net after taxes, Ac.. Netafter rents _ Tot., incl. other rev. ' Expenses-Malnt. way.. _ Tot.exp-incl.oth. Net from railroad_ Not after taxes, &c_ Netafter rents Passenger rev'enue Expenses-M Mut. way Malta of equiptn't_ -... Tot.exp..incl.oth. Net from railroad_..-- Uncoliectible revenue_ Net after taxes, &a.!relight revenue... Tot., Inc!. other rev. Expenses-Mai n t.way Maint. of equiptn't_. Tot.exp..incl.oth. Net from railroad..._.. Net after taxes. -- Tot.. Incl. other rev. Exp_enses--Maint.way Maint. of equipml... - - Transportation exp Tot.exp..incl.oth Net from railroad...- Net after taxes, 4te. Blinn at Paul & Sault Ste Maxie 3 3 1.763.192 2.270,097 3.646.353 4.572.018 448.683 578.704 939.883 1.230.239 2.427.119 3.055.789 5.089.248 6.268.303 493.107 502.230 777,770 1.008.416 499.390 1,047.327 1,334.338 2.105.414 52.124 42.100 109.231 101.486 1.444.742 1.666.811 2.922.518 3.643.752 2.600,995 3,380,573 5,363,833 7.116,150 ---17317 -...-32477M =274'7585 =847,-847 243.509 267,916 486.487 660,529 1.188 617 1.633 4,177-423,573-593,317-762.705-1,512.553-445-.005-630,324 =705.96-4=1,612.841 4,383 4,242 4,383 4,242 Mississippi Central 94.409 61.590 1847.730 127.706 15.172 17.379 32.586 40.219 113.879 82.295 228.854 174.123 15.909 12,717 31.325 31,377 29.338 28.012 66.043 57.814 6.266 2.408 11.723 5.586 41.998 31.062 83.483 69.605 100.345 80.639 207,017 178,126 1-7654 --now --4.003 6.255 6,108 12,514 12,215 11 5 17 6 7,268-4,157 9,306-16,224 -- = -914 --r-tai 7764g 259 164 265 164 Missouri & North Arkansas -Jan. 1 to Dec. 31- -Month of January- 1921. 1920. 1922. 1921. 411.730 1.321.372.-515 80.512 191.277 619,827-14 43.911 661.973 2,136.369 --521 135.358 249.122 717.189 2.086 55.051 281.157 477.562 3.452 34.356 24.686 44.942 553 4.191 458.111 963.457 2.945 80,218 1,074.520 2.307.604 12.566 180,995 --412.547 --171.242 --13.08F -45.637 49.145 52.724 3.694 5.488 87 298 99 1-461.779-224.264-16.880-51.126 7-1-728-27855 -19.289-51.798 364 364 364 364 Missouri Kansas & Texas RR 1.478.392 1,751.846 2,9 47.166 3.716.376 417.900 593.746 890.185 1.3:33.740 2.116.922 2,486.64671,Tgic.175' -5.412.478 176.597 303.331 448.012 645.332 341.413 712,271 938.787 1,645.820 49.312 46.521 97.973 38,956 658.872 945.852 1.392.722 2.038.333 1,329.157 2.1417.510 3.031.481 4,682.728-737.765.--31131:136 1T17ciiT'-'729750 120.873 109.583 243.057 219,041 424 437 1,492 891 666.468 259416, 930.262 509,813 6-9-M3 =377400 1,026,832 '=-786.001 1,670 1,715 1,676 1,715 Missouri Kans & Texas Ry of Tex - 1,006.018 1.4(15.724 2,041.290 3.021.929 370.651 536,226 799.953 1,208,628 1,510.108 2,098,301 167.256 284.636 181.752 345.674 40.254 42.334 641.711 961.264 1.102.450 1.737.973 ft-- 44751S-4 3667-3-2 48.562 48.295 439 Crl 3,093.835-4,560.762 455,697 650,312 468.780 759,790 86.235 87,577 1.352,504 2.096,661 2,521.169 3,809,817 5727E766 ft-75045 101,388 90,054 1,391 439 358,657 312,034 409.887 660.452 ' 34,06. -117,71:7-45,058 1,738 1,739 1,738 1,739 Missouri Pacific -Month of February- -Jan. 1 to Feb.28-5.614.683 6.254.979 s 11.161.236 12.832,817 1,223.801 1,587,412 2.555,803 3.449,984 7.420.605 8.350,6-13 14.889,935 17.908.983 1.194.594 1.293.709 2.352,954 2,758,179 1.507,:302 2,098,644 3,028,714 4,384,034 148.383 177.700 303,581 363,323 3,171.068 4,096.706 6.564,169 8,678,809 6.299.191 7.971.758 12,819.?i9 16,803.988 1.121.414 381:814-5 388.700 203.809 777,439 470.873 1.999 2,720 4,685 6,415 730,715 178,356 1,287,882 627,707 441:37.5 53,974 7833'' 3917-)-01. 7,300 7,300 7,300 7,300 Monongahela Connecting -Month of February- -Jan.1 to Feb. 28-3 Mobile & Ohio System Mobile & Ohio 1.081.570 1,239.037 2,224.577 2.715,770 124.689 152.314 264.235 337.919 1.268.393 1,455.102 2.617.955 3.199.098 150,614 226.325 316,374 452.001 251.634 452.778 546.039 954.358 37,518 46.964 82.144 90.246 507,150 687.112 1.074.170 1.464.370 994,412 1,465.509 2,120.152 3,070.305 27381-1-070 497.803-128.793 64.000 60,425 129.596 120,850 157 245 21 209,824 70,832 367.962 7.922 166.817 1.601 2787530 1,165 1.165 1,165 Columbus & Greenville Formerly Southern Ry. in Mississippi 65.268 107.669 146.560 229.010 25.011 28.799 58.138 69.127 95.704 24.279 13.854 4.204 44.451 145.032 43.985 20.705 3.781 83,143 216.852 50.050 25.240 6.741 96.201 315.860 87,479 45.865 6.682 169.447 96.129 158,001 195,077 322.240 --425 --12.969 5,650 13.250 5.650 26.500 20 210-6,095-26,219 15.915-32.880-16.827-41,20S -16,90-817207 226 278 226 278 Montour 89,185 99.232 163.937 211.365 801 1.085 1.574 2,410 102.157 167.434 22,309 30.312 62.541 63.502 1.044 1.915 33.644 49.959 90.652 15.131 31,750 943 23.187-24.48911.32 79,324 126.646 158,457 2,825 2,845 1 8.502-27.334 11,793 56 9-,069 56 217.831 43.174 121,264 2.387 73.733 255,634 8,977-37,803 5.299 7,007 1 3.677-44.810 2074/4 56 56 Nashville Chattanooga & St Louis 1,064,166 1.108.124 2.053.129 2,196.066 345,674 420.506 719.681 926.440 1,501,493 1,627.123 2,957.616 3,383.452 224.260 242,221 439.572 474.915 416.165 417.429 845.413 902.308 66.889 75.261 135.452 154,242 620.778 848.307 1,296.725 1.764.300 1,392,527 1,641,011 2.854,676 3.419,208 108.966-13,888 102.946-35,756 35.000 31,110 70.000 81.110 153 44.752 98 73.813-45.042 32,188-116.964 101,888 35,30? 81,635 40,799 1,258 1,258 1,258 1,258 Nevada Northern -Month of February- -Jan. 1 lo Feb. 28-1922. 1921. '1922. 1921. s 14,292 3/7.609 25.328 79.586 3,250 6.309 6.080 13.520 18,890 47.a43 3). 70 101,1)28 8,315 11,594 17.714 23,63.) 4,054 9,799 8,557 19.431 347 585 811 1,310 6,610 20,651 13.032 43 115 22,066 45,869 46.1o.s r,1 --3,176 1.6/4-9,83; 6,177 6,124 9,741 12,229 19,602 4-9,300 --8,067 --22,067 --13 5-5,713-4,402 --15.33/ --6,611 165 164 16.5 164 Newburgh & South Shore 169,045 116,111 268,529 277,356 6,302 12.943 11.246 26.219 30,563 30,830 54.798 70.648 66,423 59,659 117,339 149,090 106,784 108,165 190,264 255,390 6_2i31 7,046 78.263 21,966 12,233 9.171 22.649 19,310 11 11 50,028-1,236 55.616 2.645 44,9-78 7 8,064 7 49.0-51 7 4.483 7 New Orleans Great Northern 156,717 151,842 309.065 318.103 31,830 37,003 65.931 82,008 107,803 53,305 200,989 144.383 194,261 200,193 388,484 420,803 10,910 10,756 19,460 29.720 35,305 30,455 69,538 67,612 19,690 16,307 38,077 46,277 77,523 30,323 126,416 68,431 507 562 1,089 1,151 4,632 5,769 9,308 10,648 46,222 35,555 85,101 95,236 68,239 91,959 138.993 190.618 82.419 70.346 vasl 2.087 1,896 23.297-18,937-25-,3571-23,25'2 7 7 153,912 186.621 47.ö7 2238 4,043 4.149 43.034-46,387i 4-4tr -50-āa 7, 196,617 168,386 365.231 358.016-2.31 ThiErf 23.216 62,757 15,018 15,300 30,014 30,404 37 5 49 18 --17,411 16,502-6.843 3)335 if:w) 18,378-26,704 =364 274 274 274 274 21 Orleans Texas & Mexico System New Orleans Texas & Mexico 183,600 27.100 202.769 41.389 336.670 53,927 452.889 86,646 216.868 30.059 46,408 6,051 55.535 249.868 42.019 41.049 7.512 69.486 434.486 62,683 84.949 11.679 109.212 551.130 92.660 110,164 14.607 149,753 145,674 165,425 284,181 382,111 71.01 84.443' 150.30-5' 169iii, 16,775 17.128 32.350 32,994 9 54,419 67,306 117.955 136,016 53.542 61.826 55,981 135.804 110,906 1,165 191 191 191 191 Beaumont Sour Lake & Western 151,540 223.288 273.373 432,772 20.525 33,747 42.968 73.348 179,959 264.615 333.753 520,347 35.970 35.504 81.942 83.199 16.785 22.890 39.470 54,042 4,928 5.526 9.096 10,852 53.881 71.012 108.518 146,603 118.497 144.514 251,948 312,170 61,462 120.104 81.805 208,177 3,880 3,157 6.860 6,007 57.582 116,947 74.945 202,170 45.666. 102,019 51,290. 175,086 118 118 118 11 St Louis Brownsville & Mexico 339.620 263.699 659.836 688.174 91,824 136,291 188.696 306,863 454,112 83.285 77.587 13.294 134.869 427.464 96.396 85.308 17,066 199.883 905.123 1,058.14 164.764 227,419 158.543 182.564 26,335 34.033 259.216 405.613 _ 326,759 425,066 646,585 898,936 127.353 2.398 258.538 159.210 16,270 14.866 29,155 28.741 3 111.083-12,468 229,383 130,466 82,170-45,976 182,747 7-8,468 550 550 550 550 New York Central System New York Central RR 16.127,378 14,819.804 30,673,455 31,992,071 5,838.236 6,359.648 13.016,114 14.034,632 24.612,557 23,599,010 49.182,905 51.017.937 2.552,906 2,965.842 5.18.5.213 6,042,525 6.359.993 5,994.402 12.110.949 13.598.785 300.245 308.385 584.588 624.176 9.373,036 11.600.911 19.166.879 25.317.360 19,621,786 22.015,407 39.231,088 48.061.587 4.990.771 1,583.663 9.951.817 2.956.350 1.545.791 1,554.900 3.072.515 3,171.719 2,402 2,418 12,440 7.096 3,442,578 26,28* 6,866,862-222,40 3-6-2 163.498 7,056.512-64,370 6.098 6,078 6,098 6.078 Cincinnati Northern -Month of Febluary- -Jan. 1 to Feb. 28-1922. 921. 1922. 1921. 279,056 212,643 503.959 439.418 13.379 19,289 29.873 38,335 299,389 39.902 34.984 4,845 101.688 238.380 36,333 51.311 5.773 117,648 547,075 84.707 80.033 9.691 189,907 491.861 81,948 115.675 10.589 232.557 188.715 218,002 379,369 456.016-110:674 20.378 167,706 35,845 22,247 14,612 37,687 29,224 2 5 88,427, 5.766 130,017 6.616 75,238 244 12,929 245 98,70S 244-313 245 Cleve Cin Chic & St L (Inc Peoria & Rant) -Month of February- -Jan. 110 Feb. 28-4.967,063 4,034,053 9,251.912 8.939.797 1,061.659 1,301.659 2.362.033 2.834.565 6.478,725 5.763.703 12,516.845 12.724,395 584.047 534.323 1,295.611 1,362,358 1,654.608 1,382.065 2.996.846 2,700,122 97.571 126.055 209.248 246,340 2,510.633 2.868.724 5.099,993 6,236,139 5,036.529 5.119.676 10,010,006 10.985,782 1.442,196 644.027 2,596.839 1,738,6-13 354,691 315,335 659.837 630.671 340 371 650 673 1.087,165 328,321 1,846,352 jjqz269 963,388 110.800 1,534.010 555,4-4f 2,415 2,424 2,415 2.424 Indiana Harbor Belt -Man.th of February- -Jan. 1 to Feb. 28-728,092 68.140 46,998 4,373 326,050 462,966 680.662-265,126 3,462 34,616 10,686 684,124 1,407,499 1,521.216 100.417 128.391 245.075 157.707 141,257 314.916 4.126 7.618 7,444 394.319 645.325 937.147 963.495 1,556,375 444,004 --35.I59 59,626 21,373 2 230,510-7,224 384,378, =56,534 140,297-89,559 237.665 =-7250,306 119 120 119 120

10 RAILWAY EARNINGS [Vora. 114, Tot., Incl. other rev. expenses-maint.way Maint. of equipm't _... Tot.exp..Inci.oth. Net from railroad Tot., Incl. other rev. Mahn. of equipm't_.. Transportation exp Net from railroad_ Net after taxes. &c.. &ver. miles of r'd oper. freight revenue Maint of equipm't.- _ Transportation exp Tot.exp..incl.oth. ffet from railroad Uncollectible revenue Net after taxes. &c.. freight revenue.._ Expenses-Maint.way - Tot.exp.,incl.oth. kret from railroad.._-.. Aver. miles of r'd over. 'night revenue.._.. Exp_enses--Maint.way Maint of equipml. -. ffet from railroad TAMS Netafter taxes, ate_ et after rents Aver. miles of r'd over. _.._ E xpenses-m a in t. way Maint, of equipm't_. Net from rallroad.. Net after taxes. &c.. /get after rents Aver. miles fed oper. Expenses-MaInt.way.. Transportation erp. et from railroad_.. taxes ncollectible revenue.. New York Central Sys. (Coml.) Kanawha & Michigan 283,921 222,090 333.399 511,526 40,738 55.987 86.986 121,769 New York New Haven & Hartford! 4,252,660 3,639,535 8,182,056 7,121.209 3,357,090 3,707,623 7,252,289 7,935,592 338.216 287,505 650,357 653.492 8,577,023 8,157,805 17,301,526 16,813,851 36,493 72.254 89,926 146,405 881,977 1,335,333 1,814,432 2,589,524 70.486 174.580 169,269 357,549 1,680,678 2,306,892 3,211,855 4,903,402 4,324 4,746 8.277 9.113 51,068 59.681 101,999 116,188 120.655 136.965 238.922 300,669 3,802.208 5,042,578 7.913,540 10,391,144 234,772 400,638 528,383 832,553 6,855,819 9,275,492 13,903.113 19,076,483 94.444-113,133 121,974-179.061 27,196 35,656 53,535 71,312 67,248-148.789 68,439-250,373 73T860-59,351 176 176 75,418-98,510 176 176 Lake Erie & Western -Month of February- -Jan. I to Feb. 28-643,615 662,660 1,268,059 1,242,238 32.206 62.052 67.642 128,391 700,451 106.216 145,874 17.184 297,445 648,378 1,382.707 1,431,023 124.240 213.344 288.987 194,450 267.572 497,227 17,757 35,953 39,898 328,788 605.346 728.603 595.777 692,663 1,183,987 1,612,925 104.614-44,285 198.720-181-:902 45,088 44,668 85.176 89,336 18 14 118 59 59,568-88,967 113,426-271,297 58,871-84,402 113.191. -276.712 718 738 718 738 Michigan Central -Month of February- -Jan. I to Feb. 28-3,954,056 3,043,160 7,276,560 6,653.122 1,083.113 1.305,915 2,504,824 3,313.389 5,532,241 4,715,548 10,809,285 10,844,045 554.933 638.629 1,182,290 1,390,623 1,532,944 1,040,963 2,677,757 2,446,527 94.943 95,049 184,859 206,977 2,150.554 2,489,819 4,329.274 5,257,260 4,536,436 4,478.342 8,802,645 9,764,692 995,805 237,206 2,006,640 1,079,353 225.000 225.000 465,000 450,000 584 2.097 877 2,453 770,224 10,192 1,540,853, _526,900 641.726-30,115 1,319,004 476.952 1,862 1,865 1,862 1,865 Pittsburgh & Lake Erie 1,574,667 1,749.404 3,067.714 4,192.966 187.221 257,349 402,286 568.176 1,832.315 2,189.814 3,608,588 226.684 360,004 465.454 1,131,435 534.403 2,212.422 17,390 24.207 38,910 671.209 907,110 1.331.076 2,108,054 1.902,511 4,180,462-276,039 287,303-571.874 78,368 225,100 156,617 1 164 5.165.380 808.679 1,462,560 51,426 2.049.369 4,535,367 630.013 450,200-354,348 62,203-728,655, 179,813-231,160 277,200-501,121 677,458 227 224 227 224 Toledo & Ohio Central 761.251 657,180 1,463,865 1,436,317 57.754 76.455 123,300 155.714 843,063 106,381 215,251 12.549 325.788 687.311 155.752 55,026 1 756,292 1,633,471 1,643,767 107.568 227,688 256.289 171,688 390,128 447.240 11,559 23,278 24,301 352.688 660,251 812,944 675.433 1,357,988 1,613,605 80,859 275.483 30:162 55,855 110,052 111,710 1 1 2 100.725 25.003 165.430-81,550 104,539 503 84,999 503 17.278 503-9,333 503 New York Chicago & St Louis 1922.' 1921. 1922. 1921. 2,147,405 1,823,204 4,059.599 3,936,965 84.035 93,117 162,889 193,636 2,279,555 1,945.662 4,313,290 4,210,699 200.022 195.164 424.563 384,482 362.641 438,266 766.269 725.946 52,878 52.934 107.763 106,948 833,677 935,699 1,734,469 2,030,645 1.524,951 1,695,602 3,187,171 3,402,294-754.604 250.060 1,126.119 808,405 125,099 104,000 243,755 208,000 7 18 22 629,505 146,053 882,346 600.383 600,841 523 174,391 523 808,640 523 644,852 523 New York Connecting 242,136 283,484 445,812 564.883 250,406 292,296 465.599 584.113 Cr395 7,277 3,667 26,375 8,032 14.453 55,977 29,281 42,540 56,753 83,993 123,458 51,615 79,950 147,000 180,946 198,791 212,346 318,599 403,167 38,592 33,000 76,392 64,870 160,199 179,346 242,207 338,297 116,717 19 123.866 19 153,331 19 223,300 19 1,721,204-1,117,681 3,398,41S-2,262,632 386,086 395,000 771,686 790,000, 1.118 986 2,774 3,878 1,334,000-71,513,673 2,623,953-3,056,510 906,208-1,858,788 1,798,773=3,654,629' 1,986 1,986 1,896 1,986 New York Ontario & Western 8 719,856 719,203 1,259,103 1,389,622 110,192 121,697 236.180 263.227' 959,926 87,018 207,217 14.446 465.042 969,341 1,766,229 1,928,868 103.250 188.638 236,111 248,389 408,735 514.226 13,955 27,859 30.115 503.674 947.292 1.052.597 801,375 910.621 1.630,476 1,899,173 158.551 68,726 135,753-29,695 38,000 35.500 76,000 71,000 2 Cr22 7 3 120,549 33,242 59,746-41,308 75,097 37,00/ -17-,-322-28,549' 569 569 569 569 New York Susquehanna & West S. 234,529 167,497 455,707 493,493 56,117 62,608 115.385 127,420 337,200 32,621 52.588 3,333 181.266 276,165 32,625 50,791 3,173 249,605 661.640 58,916 108.579 7.425 375.824 711.993 93,781 116,241 6.162 530.225 279,243 346,319 571,292 765.031 57,957-70.154 90.348-53.038 25,151 26,018 50,984 51,851 128 12 134 13 32,678-96,184 39,230-104,902 20,316-110-.--6-61. 11,294-88:089 135 135 135 135 Norfolk & Western 5,478,697 4,673,931 10,621,860 10.943.571 583,239 743.579 1.249.494 1,731,309 6,325,621-5,659.621 12.353,292 13.096.337 818.201 842.665 1.669,604 1.873,803 1,486.190 1,535,961 2,935.237 3,273.175 70,572 75,279 144.151 151,565 2.064,606 2,590,615 4,236.496 6.000.988 4,583,507 5.214,476 _9,318,183 11,645,797 --1-,742,114 445,145-3,035,109-1,450,540 450,000 390,000 900.000 780,000 476 215 1,347 457 1,291,638 54030 2,133,762 670,083 1,510,807 256,631 2,509,152 1,258,917 2,237 2.220 2,237 2,220 Norfolk Southern 497,949 483,761 884,249 842,487 95,807 114,222 206,987 " 253,694 620,240 630,510 1,140,105 1,168,197 96,877 88.187 194,096 185,207 91.734 85,644 197.141 172,267 21.208 25,748 43 527 49,877 277,517 317,685 559,262 642,803 518,406 549,435 1,056,046 1,117,477 101.834 81.075 84,059 50,720 25,434 32,075 50.867 63,349 2 30 2 76,393 48,398 33,162-12,631 54,945 33,212 --3,331-23,250 930 944 930 944 Northwestern Pacific -Month of February- --Jan. 1 to Feb. 28-._ 274,388 240,506 551,037 468,532 148,341 176,843 319,343 369,308 475,870 93,775 70,766 4,939 228,047 412,324 63,546 45,093 122 474,403 117,268 90,690 5,226 245,776 983,269 198,836 155,519 10,819 475,601 953,924 269,148 179,168 11,348 516,128 477,419 872,136 1,012,698-3,01d 111,133-58,774 30,611 90,186 61,059 17 185 17 18,331-33,644 20,762-119,850 5,44g -31,690-7,204-118,835 507 534 507 534 Northern Pacific 1922. 1021. 1922. 1921. 4,342,706 3,982,286 8.610,828 8,414.698 1,022,993 1,254,953 2,166,337 2.690,196 5.859,499 5,770.156 11.847,325 12.230.250 759,520 845,488 1,495,686 1,679,172 1,564,467 1,604.906 3,438,342 3,343,644 123,151 115,026 256.759 233.348 2,789.474 2,978.221 5.734,570 6,210,840,539,835 5 5,899,608 11,553,243 12,220,002 319,664-129:452 294,082 10,248 750,000 771,946 1.500.000 1,542,653 8,328 967 10,890 2.139 --438,664 --902,365--1,216,808-1,534,544 --196,712 --690,581 --821.275--1,122,897 6,659 6,655 6,657 6,655 Pennsylvania Sys-Eastern Lime and Pennsylvania Company -Month of February- -Jan. Ito Feb. 28-26.355,515 24.530.473 50,611,114 53,619,125 8,339.007 10.103.705 18,183,256 22,079,318 37,359.660 37,506.975 74,681,823 82,224.787 3.288,128 4.555,039 6.958.641 9,172,830 9.849,996 12,274.312 19.641.206 26,011.801 359,510 409.601 862,159 904,778 14,548,049 18,711,438 29,595,707 40,997,460 29,784,682 37.771,j22 60,636,985 80,854,341 7,574,978-264,747 14.044,838 1,370,446 817,000 837,195 1.905,667 1,972.025. 4,610 2,034 6,120 7,246 6.753,368-1.103.976 12,133,051, -608,825-6.394.720-1.831,348 11-.360,817-1,793:492 7,323 7.322 7,323 7,322 Baltimore Chesapeake & Atlantic 55,704 78.215 104,423 135,565. 17,971 24,365 37.819 51,846 77.662 104,506 148,946 6,217 6,307 14,875 23,169 24,296 56.513 1,108 1,073 2,872 63,001 74,382 120.607 193,305. 19,604 74,241 2,606-140,486 96,809 109,480 201,671, 244,435. -19,147-4.974-52,725-51,130 4 8 4-19,151. -4,982-52,720 =51,138 --18,863 --5.078-51,051 --52,483 87 87 87 87 Cincinnati Lebanon & Northern' 44,337 85,000 99,957 159.200. 6.845 10,155 13,708 19,051 67.015 97.478 144,154 183,695 9.577 12.059 24.226 30.492 14.514 21,174 33.367 41,845. 1.597 1.561 3.263 3,324 51,585 51,479 106,733 119,517 79,766 88,978 172,770 202,551-12,751 8,566-287616 -18,858. 3,403 3,867 8,267 9,493-16,154 4,633-36,883-28,351 =15,902 3,526-32,785-30,72-76 76 76 76 Grand Rapids & Indiana 402.963 320,900 777,956 828,200. 128,497 221.661 296,621 406,944 571.158 581,690 1,159,628 1,336,343 61,723 62,281 129.419 141.669. 176,473 176,920 360.681 372.041 12.699 10.506 24.560 24,440. 344,647 378.907 695,251 824,200-621.575 657.487 1,267,715 J.,420,i-27 =50,417-75.79/ -108.087-83,784 10,599 10,106 30,362 29,332 29 47-61,04-5 -85,903-138,496-113,116-79,520 - --105,686 =173,933 144,477 575 569 575 569' Long Island 619.357 531,591 1,215.730 1.073,003-1,065.039 1,029.709 2,208,438 2,090,642 1.863.172 1,720,822 3,784,475 3,495,703 208,482 236.580 439,888 478,528 375,431 394,089 768,321 822.267 14,076 12.709 29,216 33,992 987.397 1,103,715 2,026,269 2,327,501 1,657.900 1,826,190 3,410,430 3,834,636 --205-,-272-105,368 374.045-338,932 17.809 16,908 56,805 53,931 1,295 278 3,751 303 186,168-122,554 313,489-393,166 131-,555. -13-77556 200,531-448.000 398 398 398 398 Maryland Delaware & Virginia 41,107 52,275 82,167 100,004 11,405 14,921 25,022 37,151 55,415 69,839 112,373 142,260 4,769 8,176 11.334 17,329 25,365 15,255 43,149 27,850 1,211 693 1,709 1,509 50.191 56,917 97,961 119,173 83,803 83,735 158,443 171,077-28,388-13,896-46,073-28,81-7 6 3 --28.394 r -13,896-46,079-28,820 ---29,866-14,824-49,594 ---29,497 82 82 82 82 Monongahela 3 401,852 244,489 7347,752, 679,589 28,799 35,360 60,305 76,251 436,038 285,909 806,668 766,187 37,634 65,737 82,456 146,106 42,893 47.334 88,840 120,603 1,027 3,196 2,255 5,062 101,194 83.298 199,642 224,467 195,053 207,639 240,980 8,000 78,270 6,500 232,985 117,601 106 393,885 512,139 4112:7-i-d 254,041 16,000 13,000 71,770 396,783 241,048 50,51S 292,990 --T5T,72/ 106 106 106

APRIL, 1922.] RAILWAY EARNINGS 11 _ - _ Net from railroad - - - Maint. of equipml. _ Net from railroad Tot., incl. other rev _ Net from rallroad... Net after taxes, Ste _ Tot.exp..inci.oth. Net from railroad.. - - Net after taxes..itc - _ Tot.exp..incl.oth. Net from railroad..._ Net after taxes, &c. _.. - Maint. of equipmet.... Tot.exp.,Incl.oth. Net from railroad..... Expenses-Maint. way Maint. of equipm't_... Tot.exp.,Inc.I.oth. Net from railroad... Aver. miles of r'd over, Pennsylvania System (Concluded) New York Philadelphia & Norfolk 421,224 374,600 714.505 793,000 57,933 70,607 129.359 193 32i 513,801 40,361 136,012' 6,639 272,448 484,463 47,159 136,023 7,941 318.943 919,699 1,013,146 92,313 99.706 286,219 263,30 15,745 16,407 544.081 646.680 476,818 536.350 981,994 1,977.716 36,953-5-178-0 -64,495-4,399 7,768 7,388 19,598 19,580 2 2 2 8 29,183-59,275-84,095-23 897 19,11 1----67TgIg'-----106T23-40,067 1 122 121 122 121 Pittsburgh Cincinnati Chicago & St Louis S S 4.856,587 4,503,100 9,448.009 11,232,400 1,367,822 1,107,246 3.057.620 3 335.473 6,900,167 6,060,812 13,883,337 15,8 i3,331 533,842 787,556 1,092,524 1,7?9,4 /.0 2,018,738 2,762.768 4,044,306 5,779,665 93,353 107,874 200,603 249,4.'0 3,049,691 3,849.881 6,202.407 8.724,638 5,958,401 7,831,104.12.095,173 17,133.. 35 941,75A-1,773,262 1,788,167-04 246,517 248,217 595,361 632,058 300 615 694.939-2,021,479 1,192,1u1-1,91.6 530,56d-i,374,054 828,947-=2-31.R1A 2,412 2,383 2,412 2,383 Toledo Peoria & Western 96,529 81,265 14,191 172,315 42,311 51.029 86.962 112.608 146,904 19,857 31,312 3,071 68,515 129,779 143,368 270,031 301,757 42,928 42,276 74,568 18,881 72,565 69,528 3.983 5,584 6,867 87,068 146.137 191.40 160,958 281,456 358.877 --=-17:0-0-6-11.417 10,000 10,000 20,000 80 84,--- --a7,1,0 20,000 7.045 --27,600-31,501 --77,1.:0 1,126-2072174 -0= -58,40 247 247 247 247 West Jersey & Seashore 333,510 209,977 616,045 513,613 395.726 472,642 765,038 905,242 794,765 738,131 1,515,097 1,577.439 138,718 177,547 274,839 318,701 182,913 182,430 381.685 389,078 11,889 10,759 29,095 22,081 443.303 510,402 899.815 1.050.741 814,235 912,054 1,660,096 1,881,050 --19,476 --17072-6 --144,999 --3037611 Peoria & Pekin Union 1%7,360 11,851 3 1,094 26,025 2,926 2,507 5.723 5,569 172,398 132,693 316.766 306.381 9.149 19,125 16,916 36,714 21,472 32,382 44,481 73,514 89 65 173 119 65.626 84,861 133.170 196.687 101,358 142.303 213,46,1 319,397 fo3.56 15,000 14,000 26,500 25:000 53.010-23,610 77,002-37,986,7673a -,37o 128,266 19 19 19 Perkiomen 74,480 113,989 151,729 250,892 6,662 8.149 14,072 16,654 84.419 125.917 172,046 4,997 6,310 13,031 3,867 3,617 8,372 107 13 213 42,509 35,167 88.841 275,599 12,086 7,804 28 75,026 52,392 45,480 112,330 95,820 ""727627 "----W7r64 179,770 4,449 3,144 8,743 6,288 27.578 77,293 50,973 173,491 "-WM '---72701 WSW 1-64,665 41 41 41 41 Pere Marquette 2148,298 1,640,745 3,988,285 3,TP9,429 '328,085 383.805 731.931 853,556 681,081 2,175,860 5,7,091 11 4,580,414 2' 223,060 260,301 432,027 583,029 528,639 450,748 988,489 1,099,451 46,864 58,745 102,012 104,510 1,182.182 1,213,245 2.367,300 2.682,101 2,097,226 2,094,144 4,117,387 4,709,222 584,7ao 81,716.---00r/ITT -128,808 125,846 115,893 257.215 197,255 1,075 54 1.538 516 457,834-34.231 740,951-326,579 5,424-5216 -237710 2,222 2,238 2,222 2,238 Philadelphia & Reading s s s 5,946,688 5,4,12,973 10,915,900 11,987,84( 719,366 866.913 1.565,458 1.874.817 6,923,568 6,593,456 13,014,3,6 14,467,017 598,253 679,077 1,512,490 1,438,81, 1,552,718 1,984,516 3,310,576 4,471,789 51,105 55,755 111,459 111,198 2,537,676 3,185.726 5,037,022 6,940 35, 4,883.208 6.101,439 10,263,35 13.3,8.1.4r- 2,040,3M 492,6i 2,781,091 1,098,92, 191,370 241,357 385,039 482,713 41 2,476 Cr116 1,818.949 250,660 2.393,576 616.33 1,641,367 111-,24-72-:01.070e7 288,705 1,127 1,126 1,127 1,126 Pittsburgh & Shawmut 3 124,608 124,730 218,717 260,624 5,838 6,520 11,659 14.198 131,342 26,785 29,368 1.527 35,356 101.127 30,215 13.317 27,073 43 337 1,310 47.771 23,147 51,601 60.282 2,037 65 711 1 7,806 201. 31 115 4,541 145 `'.2-1,216 223 278, 31 58.819 87,026 5,157 100.0 30,100 4,396 30,993 4.671 377 3871-33 -- 3-.170- - 81,282 102 102 102 102 Pittsburgh & West Virginia 218,341 165,086 403.703 385,550 8,156 11,180 17.498 24.008 257.706 208.825 23,070 33,385 82,127 76,244 2,996 2,742 60,494 86.658 483.378 46,465 180.941 5.687 119,371 190,452 225,807 39.5,726 67,254-16,0g1 87.652 28,110 21,640 48,720 39,144 --38.662 38.93! 41,3ig 85 85 85 475,560 85,292 158,005 5.621 184,818 Rutland 255,358 243,233 465,126 558.874 102.674 105.709 226,697 234,153 422.507 82,370 81,299 7,859 211.500 414,811 89,736 110.242 7,566 240,669 834.373 171.064 177.557 16.598 434.477 926,372 183,080 230.043 15.382 501.974 396,948 462,676 828.763 963,075 25'.V54-47786 6:6-rfS 367 20,324 23,659 40,824 47,473 1.5,235-71,524-35,215 --84,176 16,1129-49,87-g -13,208-39,908 415 415 415 415 St Louis & San Francisco System St Louis-San Francisco -Month of February- -Jana to Feb. 28-4.186.085 4.370.304 8,201,092 9,018,101 1.242.959 1.686,914 2,613,923 3.595,868 5.819,865 6.674.945 11,700,998 13.710,160 631,207 733.920 1,315.552 1.459,677 1,151.166 1,160,531 2,258,616 2,582,037 71,385 95.752 155.886 182.986 2.226,723 2,839.603 4,604.904 5,842,743 213 3' 4,237,799 5.014.427 8,683.159 10,500,963 5,001 1,582,066 1,660,518 3,017,839' T,209.191 330 326.073 265,420 590,948 530,839 5.726 1.896 9,409 4,510 1,250.267 1,313.204 2,417,482 2,673,848 1,280,775.1.73T-fil. 33-27527J138 2,6237a 4,760 4,760 4.760 4,760 Fort Worth & Rio Grande 61,362 70,706 130,715 151,775. 22,681 40.015 49.683 99,110 93,033 43,236 21,428 2.661 50.317 120,164 27,320 24,001 3.299 81,881 198,277 80,547 43.306 5,359 103,618 270,916, 78,761 49,584 6,487 181,070 483331 121.872 142,926 243,206 330,717-7.771-28,830-22,762-44,919 40,045 3,538 3,679 7.076 7,359 115 1.374 79 1.395 79 --47,931 2772-0 85 Pittsburgh Shawmut & Northern -Month of February- -Jan. 1 to Feb.-28-99.106 82,475 183.061 182.155 6.930 7.901 14.440 16.455 108,485 91.323 202.954 201.052 14,010 20.477 28.904 53.635 54,602 58.077 83.490 120.391 1.437 1.832 3.626 3.135 45,043 49.918 80.332 100.562 121.005 135,580 223,275 298,776-44,25't 2032i' 97724 338 39-2,187 2,229 375 4.464 4.462 62-19,808-173,959-145 374-3.)3.673-14,707-46,486-24,785-102,186 -a-rm -186,1M - =1-74-q3-5j - ' --32-3 359 359 -.-=13-72741 -157623"21084-35-,956 359 359 210 209 210 209 Port Reading -Month of February- -Jan. 1 to Feb.28-155,453 151,620 288.102 346,262 227,242 204.116 405.471 464.296 20,660 12.268 35.509 28,137 4,816 1,986 13,605 13,472 229 18 458 36 65,202 84.746 129.3,18 193.368 92,185 99,286 181,468 235.643 135,057 1-04:830 224T003' "228t853 14,373 13,163 28.746 26.326 120.684 91,667 195,257 202,327 1,725 19 59,520 21 33,06I 21 677201' 21 69T788 21 Quincy Omaha & Kansas City -33.751-26,5M -53 310-67,239-34,217 235 2 3T0-58,777-101,032 235 235 235 St Louis San Francisco & Texas 100.318 103,565 218,279 262,091 13.303 18.881 28.250 43.654 119.454 28.441 18.037 3.724 53.572 149.066 38.080 30,732 3.353 91.679 258.351 55.740 49,110 6,502 100.581 324,765, 98,844 77,071 6,536 207,387 109.411 170,621 233.249 403.573, 10,043-41.55g -80,80 1.865 1,990 3,729 3.980' 2 119 297 120 8,176-43.664 21.075-84.908. -11,081 '.---7 7- -47074 ' -21.99-156,221 134 134 134 134 St Louis Transfer i i a 105.000 88.725 212.087 222.261 7,954 8.921 19.176 19.220 4.573 4,369 6,941 9,118 168 199 370 391 32.994 37,704 68,406 88,336 47.349 53,069 98.598 121,252 =57,651 ' -3565g =37489 10f.;006 891 362 1,783 716 73 124 Cr60 56,687 35,294 111.582 100,353 48715g 31,686 Th980-917,72f 6 6 6 43. St Louis Southwestern System St Louis Southwestern -Month of February- -Jan. Ito Feb. 28-1,067.254 1,095.415 2.201.152 2,373,690, 121.860 151.960 259,270 333.147 541,981 4,707 93.911 143.178 20,992 27,499 42.870 55.499 80,078 107,163 152,895 212,684 1.233.551 1,296.889 2,555,358 2,816.535. 40,426 17,284 62,060 50,182 217.434 153.257 441.657 365.605. 18,013 16,386 35,336 38,967 190,448 262.745 400,723 521,089 795 853 1,709 1,679 42.672 52,864 88.944 102,330, 41,619 51.537 89,454 132.435 336.185 421.895 690,721 895.067 106,298 --672726 4,415 87.961 191,414 227,754 10,202 L-=M--ff --15,070 4,150 7,849 8,299-30,635 15,052-46,368-23,369-10-.-3-74 - -7-4J88..-3L73' 252 252 252 253 Richmond Fredericksb & Potomac 356,317 442,766 651.108 868.408 289,743 308,996 619,949 685,610 776,431 70,411 108.870 8,165 304,143 816,316 1,527.588 1,711,811 146,264 153,332 296,468 142,923 219,958 291,487 8,365 15.437 16,336 379,230 611,414 793.026 541,082 712,165 1,095,577 1,462,032 235,344 --INTIM 4 gwir 37782 39,963 37,007 75,423 76,469 126 127 195,260 67.144 356.461 133,000 29,70S.--24-1-,314 117 117 117 843.513 953.992 1.738.6.33 2,011,565 390.038 '---3-427807" -8167725-804.970, 48,654 43,375 103,526 88,199 493 143 917 443 340.891 299.379 712.482 716.328 310,-35g '----2887004-0.41.2871. W-2-W; 968 968 968 968 St Louis Southwestern By of Texas 415.844 494,887 916.485 968.364 79,105 89,314 171.136 205,765 526.597 141,317 144.770 19.116 283.450 626,431 1,150.110 1,259.200 147.264 303.875 304.314 194,473 307.817 392,820 21,579 38.874 42.559 343,419 605.602 707.812 618,533 743,901 1.317.982 1,521.787-91,98 --117.470 7:8-72 -262,581 24,000 24.006 48,000 48,011 74 55 94 63 173.313 --116_,060 --141,531 --215,966 --310.661 93,608-120.574 217,210 =212,993-274,049 117 807 807 807 807

12 RAILWAY EARNINGS [vol.. 114. _ Tot.. Incl. ocher rev. _ Tot.exp-incl.oth. Net from railroad_ Net after taxes. &c Tot., Inei, other rev. Expenses- Maint way Maint. of equlpm't_.. Tot.exp..incl.oth. Net from railroad Tot.exp..inci.oth. N'et from railroad _.. Tot., Incl. other rev. Maint. of equiprn't Tot.exp..Inclath. Net from railroad.. _ Tot., Incl. other rev. Expenses-Maint way. Tot.exp.,Incl.oth. Net from railroad Tot.. Incl. other rev. Maint. of equiprn't Tot.exp..inel.oth. Net from railroad. Uncoil ectible revenue.. Net after taxes. &o_ Aver. miles of r'd over.. Tot.exp-inc].oth. Net from rallroad..._ Net after taxes, &e_ Aver. miles of edaper. San Antonio & Aransas Pass Southern Railway System (Cond.) New Orleans 14 Northeastern RR Solitlimi Pacific System (Cowl.) Houston East & West Texas -MonthofFebruary- -Jan. 1 tofeb. 28-364.025 449,880 735.768 842,272 167.728 160,453 335,005 339,850 68.132 91.379 143.982 191.242 34,398 41.338 70.959 96.686 i 36 314.301 32 3 4,704 593.144 677.008 52,210 70.248 115.333 166.907 388.790 422.895 753.599 900.414 85.238 111.205 181.101 276,683 100.378 106.470 211.819 200.391 9.905 10.543 19.075 21,359 473.305 576.779 964,066 1,135.006 212,452 212.584 428,107 463.810 71,283 95.824 134.719 202,738 45,757 39,804 92.624 79,106 90,182 97.242 184.771 248.336 43,227 35.629 99.535 76,783 11.985 13.409 23.920 26.730 3.103 4.181 6,705 8.017 189.439 274.617 389.441 554.136 216,113 281,706 461.673 586,738 94.850 106.631 207.377 252.006 410,106 526,405 851,031 1,097,860 409,995 510.967 848.556 1.112,295 195,711 193,896 422,641 432,143-21.316 --103,510 --07.432 --197.446 13,882 13.299 27,512 26,534 47 15 851 90 --35,245 --116,824 --125.795 --224,070 --45.902 7:=100.949 --140,526 --195,828 739 738 739 738 Eitt11 Antonio Uvalde & Gulf. a 45.640 45.625 847.687 9%.683 14,541 24.158 32,400 52.852 66,z59 80,904 132.083 175,066 10,248 11,279 24.219 25.006 10,262 16,426 20,577 35.015 2,857 2.443 5,484 4.646 29,899 37.483 61.542 83.590 63,310 65.812 115510 22.711 43,551 38.189 87,102 76.762 1 2 35 842 16,741 18,688 5.466 31.667 7,519 7.939 15.038 15,878 95 16 114 212 19,758 27.621 28,373-54,893 9,127 10,733-9,686 15.577 2,20f. --24-,-519 7.04-4 -133.012 207 207 207 207. Northern Alabama 3 71,175 55.206 142.600 146.792 9.830 13.972 21.138 31.414-4,812 191-5,6-51 -44.34-17 191 191-21,568 191 Louisiana Western 3 3 271,054 213,702 505,099 478,097 81,213 94.312 171,540 208,978 82.921 71.349 167.987 183.031 374,439 349,660 719,231 736,370 16.185 18.872 32.151 34.871 67,682 53.283 131,023 107,909 4.774 3.959 9,222 11.577 72,010 105,882 137,481 186.515 1.128 1.741 2.988 3.760 9,508 12.857 17,621 24,841 32.591 41,229 70.367 102.792 96.956 134.365 208,824 241.586 59,503 74,457 124,499 161,840 57,150 69,732 120.573 160,198 268,494 346,195 510,456 602,312 6,756 7.584 13,226 2,819 2,772 5.820 5,580 241 265 16 25.771 1.617 47.414 22.833 105, 4 3,46d 178.778 134.65g 4.047 3,814 8.094 9,019 27,274 27,985 54,548 51.651 23 46 706 58 979 Cr181 3,696 3.725 1,499 7,530 21,701-2,197. 39,274 13,814 77,965-24,578 123,251 82,598-5,081-17,887 --12,317 317 317 317 317 Seaboard Air Line 3 3 2,355,908 2.756,114 4,632.690 5,427,075 812,303 849.071 1,811,239 2,084.918 3,409.446 3,860.117 6,997.815 8,195,463 398,121 504,980 849.803 990,779 663.080 752.709 1,298.995 1,307,832 106.773 132,566 233.389 257,079 1,565.201 1,930.539 3.173.709 4,033,761 Southern Railway System ' Southern Rail way 6,305.982 6.551.171 12.357.843 13.324.757 2.036.258 2,409.264 4.480.450 5.375.983 12,913-1,522 11.09S -17-:426 110 110 110 110 Southern Pacific System Southern Pacific 7.336,407 8.419.913 15.181,240 17.006.239 3.046.115 3.962,535 6,432,093 8.498.867 ---7-6-,731i -21,054 WM 82,224 207 207 207 207 Morgan's Louisiana & Texas RR 43 3 5.445 54,443 84,518 1,049,689 145,842 159,964 300,472 313.520 11.363.771 13.041.649 23,795.506 28,332,729 627,047 702,706 1,435,437 1,494,884 1.884.214 1.581.611 3.836.785 3,718,469 131,355 156.303 275,750 353,931 2.266.959 2,193.242 4.783,259 5.069.418 149,669 123,338 303,302 343,565 220.740 224.134 456.862 451.268 16,157 19.371 32,931) 37,660 4,419.246 5,709.773 9,218.549 12,214.403 251,862 330,852 5?6.557 693.527 2,925,975 3,518,381 5,917.693 6,990,743 9,437,691 10.453,006 19,641,857 22,955,103 589,720 664,570 1.413,750 1,499,103 4832! "3U.734.73o 1,080.122 1,204,520 1.926.080 3,191.613 4,153.649 5.377,626 37,327 45.ia --72-1W -6,2113 165,000 150,000 330,000 300,000 1,235.340 911.854 2,465.297 1.823.708 45,024 38.901 90,048 83,465 271 3.533 559 4.158 4.244 8,610 10.682 11.151 514 494 577 725 318.000 188,403 749.503 900,354 636,496 2.271.179_, 1.677,670 3,542 767-8,211 5,738-68,938-90.409 43.161-77616 255.956 5-6-3,426 658.516 1,939.752 1,6C7,315 3,171.377 --2603 --23T50-1 7:76177-Iff -161,13 3,563 3,503 3.563 3,563 7,119 7.110 7.115 7,110 400 400 400 400 Arizona Eastern Texas its New Orleans. 9.019.687 9.798.330 18,237.219 20.491.259 1,393.798 1.919.564 2.651.226 3.884.365 1.721.203 2,149.018 3.438.000 4.539.157 199.340 191.332 403.414 423.199 3.824.008 4.995.942 8.007.928 10.612.195 -Month of February--Jan. 1 to Feb. 28-3 163,335 221,575 308,971 483,152 28.314 44,822 55.945 102,828 543,295 522.948 1,176,217 1.102.937 140,499 141.319 292.240 314.510 200,007 220,904 364,u02 63,),900 720,825 685.061 1,549,639 1,486,342 23.270 51,828 52.772 108,625 149.288 130.311 265.262 290.680 24,657 46,270 50,353 96.982 167,922 182.237 343,952 430.465 2,502 5.001 5,251 8,489 11.133 12.272 24.252 24.372 61.481 111,611 125.003 230,413 262.818 333,408 557,333 678.020 7,527.984 9,678,829 15,290,253 20,349.097 132,371 241,943 277,985 500,481 625,137 692,429 1,257,982, 1,489,535 1.491.703 119,504 2.946.966 142,162 433.661 361.428 850.206 741.377 5.709 5.529 11.179 9.066 1,052,333-247.453 2,C85.581-608,281-701.855-868,479 1,441.051-1,494,534 6,971 6,971 6.971 6,971 Alabama Great Southern 008.599 611.859 1,012.788 1.223.687 113.414 157.708 249.850 349,99C 655.982 811.967 1,329.400 1.684.029 83.540 136.797 161,695 278,714 118.839 154.485 268.280 368.149 21.316 23.294 42.247 40.978 274.086 336.375 583.671 854.717 08.06 10-C-9157 136,424 24,280 26,742 48,560 53,484 18 9 51 83 43,898 21,020 56,356 84,857 8 rt AO 10,164 ''=74-7-,-6--i-T 382 382 382 382 Atlantic Steamship Lines 901.985 813.882 1,701.193 1,483.666 52,613 69.589 99.586 128.946 996.091 924.390 1,888.314 1,693,449 10,175 10,743 20.886 28.747 156.783 157.856 288.991 313.897 15,658 15.108 30.263 33.202 557.471 643.641 1.099.129 1.322.120 95,688-7,359 291.657-3.193 24,238 20.011 48,398 40,022 111 277 339 909 71,339-27.647 242.920, -44.124 38.721 --55,266 1677534 --123Tgig 507 475 507 475 Spokane International -Month of February- -Jana to Feb. 28-68,498 72,070 145,890 158.458 8,335 15.158 17,716 35,130 80,137 90,817 170,966 201,1168 8,456 12,954 18,065 27,774 7,227 7,854 14,055 15.488 3.225 3,302 6,445 0,563 31.307 30,345 73.168 75,455 527,212 723,499 1,117,528. 1,906.775 764,970 856,624 1088.588 1,748.114 60,493 67 145,908 138,890 128.770 88.468 211,872 77.254 --231.121 67.766 309.726-54.665 19,644 23,44g 4570g" 62,7 29,391 26,497 57.857 50.528 11,893 11.524 23.786 23.046 5,473 7,766 10,946 12,891 36 6 2,365 120 918 5 10 12 99,343 61.965 151.650., 26.606 219,228 56,242 375,022-77,716 14,161 15,481 31,050 49,887 219,708 56,212 375.50i -75,802 72,733. 105,388 154.128 33,912 313 313 313 313 Cincinnati New Orleans & Texas Pacific 971,531 1,032.089 1.884.017 2,092,850 235.950 277,597 562,597 688,587 1,261.953 1,385.848 2,566,559 2,950,7(.7 145.448 195,592 275.901 427.373 328.304 387.232 639.467 874,429 28.417 31.119 56.849 62.746 449.722 659.296 935.366 1,403.377-1,001:044 Galveston Harrisburg & San Antonio 8 1.227,288 1,463.573 2,397.081 3,412,838 334,171 419,364 693.865 915,040 1,655.847 2.051.596 3.285.439 4,669.161 316,841 317,013 035.520 647,461 295,181 508.776 654.173 1,018.529 38.834 48,580 81.179 96.686 651.213 852.948 1.364.810 1,858.9C5 1,327,905 2,008,369 2,881,757 1.360.621 1,816,279 2,883,935 3,813,533 260.909 57.943"t58.199 68,950 295.226 235,317 401,504 855,628 54,322 46.568 108.711 93,130 51.586 42.726 103.041 85,453 608 21 663 24 832 858 1,626 1,753 205.979 11,354 448,825-24,210 164,662 21,886 431,121 - -=79.889. 338 338 338 338 Georgia Southern & Florida 223,478 250.579 490.534 529,178 84,306 89.100 198.108 195.277 2.12,808 191,734 296.837., 768,422 206.447 1.379 44,654 1,380 224,323 1.379 453,873 1,380 Houston & Texas Central 754,658 678,634 1,791.845 1,459,370 275.436 186.333 591,367 431.210 5,63-6 1-6,863 -NW ---3-87ga 195 165 165 165 Spokane Portland & Seattle 3.13 3 1.983 335,308 700,5.17 696,168 105,781 129,897 225,033 284.549 486,542 510,959 1,919,295 1,075,738 45,907 80.172 94,237 163,923 77,683 92,377 175,691 199,973 8,727 8,147 16,446 17,490 175,401 216,460 374.781 462,635 331,385 426,161 715,340 908.972 152, 15/ 71. MTāl' T66, tti 84,100 80,830 168,200 161,636 26 127 48 336 68,031 3,841 135.707 4,794 62,8a -9 ;TA 13572-6 -ff,21"g 549 ' 549 549 549 Staten Island Rapid Transit -Month of February- -Jan.1 to Feb. 28-- 78,744 81,807 140,963 164.396 74.019 823063 158.075 168,568 337.019 369.775 748.765 798,851 1,090,348 919,228 2,504,229 2,025,437 166,508 177,067 325,194 66.951 89,005 362.086 124.787 189.087 207.837 190,942 408.926 409,659 29,881.33,472 73,294 57.924 97,920 127.793 73.851 188.118 206.533 193,105 458.042 385.978 27,108 41.016 77.777 7.876 8.224 16.779 74.756 17,220 21,654 22,422 45.992 44,409 2,140 1,656 3,502 169.946 218.266 3,328 543.639 467.601 413,927 431.577 917.381 905,437 103,940 118,522 218,344 254.125 317,201 430,613 643,838 896.855 886,389 869.964. 1,908,215. 1.810,484 175,687 208,042 399.497 432,015-19.818-60.838 104,927-98.004 203.959 49.264 596,014 214;95-4 -=9,176-36:676-7.00-662 6.936 17,086 24,518 34,182 44.211 43,845 88.383 87,689 15,000 12,000 30.000 133 Cr23 133 Cr20 560 90 894 24,000 263 426 320 2,882 348 12,749-77,901. 80,276, -132.166 159.188 5.329 506,737 12_7,002-24.605-43,301 _-107.185-94,277 1,236-82,082 46,064-167,058 127,588-24.740 405,307 67.5d -477825-54,100-13i79A5 402 402 402 402 923 923 1i010 923 923 23 23 23 23

APRIL, 1922.] RAILWAY EARNINGS 13.. Tot., incl. other rev. Transportation exp Tot.exp.,incl.oth. Net from railroad.._ Uncollectible revenue.. Tot., incl. other rev. Expenses-Maint. way _ Tot.exp.,incl.oth. Net from railroad... - - _... Expenses-Maint. way Maint of equipm't. Traffic expenses..- - Tot.exp..1ncl.oth. Net from railroad... Uncollectible revenue _ Tot., Incl. other rev. Ex_penses-Maint.way... Transportationexp Tot.exp..incl.oth. 112,820 124.658 229.336 1,895,631 2,587,095 _, 4,094.162-5,631.218 199,463 215,287 401.978 487,440 Net from railroad..._.. -342.276-331,643 717.256 826,016 125,000 127.616-39,032 30,11J 70.828' 250,000 15,909 255,232 130 391 244 17,767 13.488 35,588 27,228 657 217.146 203.636 Net after taxes, 467,012 &c. 570,127 134,553 72.889 21,265 16,625 35,240 =11,319 258.457 255.064 Aver. miles of r'd open 1,952 1,946 16,885 5,320 '-26,592' =33.695 1,952 1,946 258 258 258 258.. iliipe n sea-main t.way Maint of equipm't-... Transportation exp Tot.exp.,inci.oth. Net from railroad... Uncollectible revenue Net after taxes, arc.... Maint. of equipml....._ Tot.exp.,incl.oth. Net from railroad.... -... Transportationexp. Tot.exp.,incl.oth. Net from railroad Uncollectible revenue._ Net after taxes. &c_ Tennessee Central 127,254 130,628 242,503 247,617 34,702 44,657 75,213 97.450 174,836 185.702 342,370 367,853 22,773 39,246 63,983 79,430 24,479 44,974 67.803 90,304 4,483 4,795 9,701 9,601 85,950 105,397 170,188 238,447 144,891 205,582 329,463 440,515-29,94-8 -10.980 12,90' `=72,662 4,004 4,599 8,014 9,205 20 2 93 61 25,921-24,581 4,800-81,928 --1-6-,565-44,830-25,079-123,029 292 292 292 292 Terminal RR Assoc'n of St Louis Terminal Railroad Association of St Louis 1 1 104.897- --12,221 188,039 15,834 12,815 31.667 215 175 217 88,848-25,212 156,155-106,640 --12,721 195,215 9 9 9 Texas & Pacific Union Pacific System Union Pacific 5,269,734 4,947,081 10,249,862 10.946.878 1,048,229 1,365,990 2,279,720 3.019,449 6,957,254 6,948,387 13,770,287 15,441,691 472.448 559,264 1,032,908 1,435.477 1,506,804 1.768,177 3,040.478 4,030.594 111,618 119,084 238,256 256.683 2,282,676 2,516,426 4,726,754 5,680,526 4,801,834 5,456,981 9,918,382 12,461,100 1355,420 1,491,466 Th-,-851-.906-2,980,591 566,949 569,108 1,134.034 1,736,716 799 3 805 29 1,587,672 922,295 2,717,066 1,843,846 1,560,886 801-,891-2,619-.956 1,562.306 3,665 3,614 3,665 3,614 Oregon Short Line 8 S 2,046,450 1,696.771 4,036,853 3,645,131 349,564 456,255 744,721 1,001,415 362,718 343,298 753,931 742,920 2,584,141 2,349,798 5,151,500 5.083,385 56.832 87.640 126.466 172,164 286,301 273,632 555.071 897,183 34,111 33,522 70,566 75,728 491,233 550,109 1,026,657 1,264.663 1,028 949 2.020 1,916 45,220 42,708 87,349 84.931 121.650 135,351 252.841 313.400 878,489 921,908 1,796,396 1.987,541 222,895 268,966 473,134 587,545 119.828 '-'"---74.13-2 280,79/ 155,375 55,342 42,931 110,685 85,861 20 67 7 84.461 31.401 170.045. 69,507 196,778 =407271-396570 298,311-420,941 'fl'=64,016 37 37-749,266. M163.483 37 37 2,359 2,359 2,359 2,359 St Louis Merchants Bridge Terminal Oregon-Washington RR & Navigation 311,255 266,143 615.926 591.411 36.811 50,146 81.016 112.431 22,913 47.207 40.341 77.368 907 948 1,861 1.864 142,872 172.975 294,956 388.465 206358... 278.365 427,887 594,453-3.042 25,631 175-28,848-5,015 9 3 1,563,384 2,055,025 3.355.386 4.394,560 512.654 702,672 1,134.067 1,574,321 2,237.907 2,918.738 4,811,418 6.457.234 381,938 448.643 821.618 991,245 485.052 645.790 1.021.038 1,370,924 45,078 55.726 92.101 109.440 888.380 1,311.711 1.938.028 2,896.123 Toledo St Louis & Western -Month of February- -Jan. Ito Feb. 28-682.591 644,805 1,346.586 1.328,358 21,011 27,229 46.393 ' 61,038 735,320 698,023 1,455.468' 1,453.875 80.061 92,771 147,982 212.087 126,420 183 379 260.324 385,132 20,071 20,680 40,964 40.389 244,423 285,225 507,470 586,276 484.677 596.339 989.879 1,253.783 250,648 161,684 465.589 200.092 46,000 31,000 92,000 62,000 503 204,643 70,1384 373.086 138.092 179,267 48,809 317,823 100,882 454 454 454 454 Ulster & Delaware 43.112 34,895 82.335 78,211 17.876 15,396 38,848 32.938 83.201 70.924 170.263 15.889 13,745 153,105 32.154 29,744 18,265 15,396 42,206 1.850 1,808 39.353 3.693 50,724 55.815 3,982 107.373 123,061 95,080 96.01q 202,281 214.677-11.879 --25,091 --32.018 6.021-61,672-6.255 12.024 12,506 218 218-18,118-31,346 --44.260-74,678 7:1:19,726-3-2.165-48 956 --75,260 128 128.. 128 Union RR (of Pennsylvania)..... 646.296 892,602 1.306,995 1,903,299 40,258 37.769 95.384 160.802 108,760 215,623 322,615 411.583 156 218 358 302.690 503 485,828 619.138 1,083.856 511,14_5,,,747,236 1 051,729 1.621 919 '-`135.151 145.366 255.266 8F3-0 13.000 10.666 26,000 21.332 122,15i 134,700._2_g_9aita 260.048 188-.304 172,244 340,259 347,270 45 45 45 45 1,863,441 1,969,22-3.796,781 4,619,139 720,700 "--380,566-1;354,716-464,246 274,258 297,568 548,516 579,651 83 1,843 134 446,359 82,998 804,360-115,539 -Month of February- --Jan. 1 to Feb. 28- S s s 1,423,246 1,406,067 2,891.878 2.715.198 363,205 454,565 767,604 1.005.452 1,944,622 2,019,882 3,982.76-2- 4.060.36-7 304,681 383,605 579.989 954.898 375,847 450,619 771,993 1,001.645 54,947 60,406 112,906 114.070 929,883 986,823 1,918,871 2,081,150 1,808,985 2,05-0.688- -3-.876,872-4,488.66-7 135,637-30.804-302.890 7=-428.300 180,878 180,938 362.557 362,425 84 6 126 35 --45,325 --211,748-59,793-790,760-122;316-285.526 --219311-942.787 2,218 2,223 2,218 2.223 St Joseph & Grand Island 5 204.122 202,961 402.190 410,779 22,663 31,546 45,931 67.911 238,495 28,029 44,249 2.781 245.400 23.724 50,003 2,875 Utah 472.806 55.466 87.902 5,392 503.349 70.382 111.361 5.013 266,549 1922.. 1921. 1922. 1921. 138.738 96,969 243.968 210.151 924 513 1.694 959 140,757 10.164 37.043 359 33,580 98,102 7,507 30,449 334 27.180 85,554 69.224 55.203 6,769 28.878 4.138 48,434 24,740 35,728 104 20,681 98 247.436 22,083 66.902 679 67.099 165,651 81.785' 13.360 212.481 19.623 71.200 804 57.336 156.413 56.068 8.264 68,425, 47.804 42.618 104 45,736-98 Vicksburg Shreveport & Pacific 1922. 1921. 1922. 1921. 182.610 233.684 360.715 492,166 78.574 80,643 172.516 173.915 279.562 330,283 569.626 703.865 39,576 56.180 82.230 108.465 49.347 77.240 121.034 181.931 9.247 9.784 18.381 19.636 111.694 125,996 235.917 290 674 225,012 284.547 488,644 633 987 54.550 45.736 80.982 17.640 7,826 34,795 47 209 61 36,863 37,701 30,687 171 46.126 45,079 28,-465-31-.776 171 171 23.919 171 Virginian 1,38S,581 960,129 2,652.481 2,482,470 56.183 68,645 118.777 154,214 1,537.133 1,130,397 2,052,293 2,023.532 159,505 172,002 334,946 400,706 371,444 338,167 693,203 717,192 12,002 9,831 24,531 21.458 331,053 432.953 693,453 992.928 904,793 986.545 1,808.250 2.202,835 Wabash 3,67S8,132 3,318,047 7,043,075 6,831,722 590,235 759,711 1,271,439 1,620.671 4,532,121 4,430,804 8,834,612 9,147,821 554,342 592,313 1,155.325 1.217,373 862,380 965,346 1,788,101 2.047,967 140,375 110,254 229,222 221,042 1,961,597 2,079,740 3,964.666 4,556,644, 3,687,091 3,965,100 7,481,963 8,481,246 845,036-465,704 U52,644; 666,575 188,556 136,828 377,112 273,188 158 128 499 274 656,316 328,748 975.038 393,113 401,241 1-106,598 171,201-38,518 2,472 2,472 2,472 2,472 Western Maryland 1,316,157 1,32 8,204 2,622,693 2,843.043 67,623 87.382 144.882 188.738 1,504,040 1,500.824 2,982.306 3,202,105 206,663 189,285 401.866 407,917 285,948 383.112 569,797 862,758 28.473 25.299 60,584 52,254 529,866 630,508 1,061,245 1.332,829 1,118,966 1,301.867 2.227,338 2,811.219 85,074 195.957' 754,968 340,886 50,000 50,000 100,000.130.000 335,074 145,957 654.968 260.886 Th8;818 I'"" 231,786 532,570 468,380 804 797 804 797 Western Pacific -Month of February- -Jan. Ito Feb. 28-601.397 622.935 1,221,628 1.344.600 86,445 148.265 208,861 325.090 737,297 119,277 164.518 28,574 359.753 814.507 1,527,737 1,766.081 106.975 225,237 246.879 177.524 312.428 384,865 30.511 56,958 59.547 361,558 696,217 790.000 733,045 737.777 1,406,487 1,608,458 4,252 '-=-6.78-6 121,256' `=-1 57.62-1 86,117 69,169 172,240 136,588 3 216 87 300-81.868 7,345-51,077 20,735-57.238 80-361 -7,846' 170,21 1,042.1,011 1,042 1,011 Western Ry of Alabama 4,558 101.632 191,261 198,950 47.347 55,693 113.901 155.723 161,078 24.361 44.362 7,464 63.620 173,376 26,892 57,909 8,024 68,156 313.011 48.096 93.578 15,229 133,058 388.485 59.140 113,732 15.560 161,743 151.467 174,908 317.711 377.545 7,211 --1.532 25,200 10.946 5,747 8,960 13.450 17,601 1.464 --10,492 11,840 ---6,661 2,707 -,144 1317 ---5,-57 133 133 133 133 Wheeling & Lake Erie 961.172 680,804 1,788.228 1,562,825 60.042 77.068 131,085 161.618 1,064,541 815,638 2,031,913 1,873.274 119,361 135.151 248.018 280,224 225.245 238,411 421.118 530.783 18.675 13.921 35,767 29,933 381,315 431,282 791,996 985.869 786,035 867,552 1,573,397 1,917,063 278,506-41.014 458,-43780 97,963 71,413 187,926 151,826 113 190 180,430-113.327 270.400-195.615 140,751. -3-3. T6-971 201,81.5-245,361 511 511 511 511 Wichita Falls & Northwestern 82.809 148,451 181.529 328,405 19.276 29.726 41.409 64,286 110.040 185.418 239,610 409,794 15,107 29,358 38,659 57,419 20,759 33,953 51.280 68.925 882 692 2,816 2,016 51.586 70.688 105.589 159,874 96.410 143.177 212,441 305,722 69.878M63 42,241 71i1W 104071 24.387 12,029 10.866 24.059 21,732 412 69 24 801 88 632,346. raggl 1J-44-m 620.697-707476 -364961' r --4 518.381 98,316 94,641 197,059 189,282 45 1 49 2 535,979 49,210 946.935 431,413-34783-6 126,447 526 528 526 526 1.532 31,351 2,309 82.252-13,802 18,457-3i.16' '54,08% 329 328 329 328 Yazoo & Mississippi Valley 937.404 1,276.391 1,943.738 2.623,512 289,316 337.376 633.328 771,858 1,391.284 1,731,010 2,710,869 3,612,194 313,018 291,129 621,156 602,239 256,851 304,384 549,523 634.688 25.278 22,899 52.787 54.904 589.437 756.993 1,253.322 1,674,435 1,230,814 1,430,049 2,559.895 3,095,812 118.443 105,329 236,886 210,659 84 31 183 71 --48,057 195,601 --86J095 305,652-7=8-670 193-.06 --ROM -"WM 1,381 1,381 1,381 1,381

14 RAILWAY EARNINGS [VOL. 114. COMPANY RETURNS All the figures in the foregoing pages are transcripts of the monthly returns as filed with the Inter-State Commerce Commisdon at Washington. A few railroad companies also issue monthly statements of their own, and sometimes these company statements go beyond the requirements of the Commission and give added items of information. Besides this, a number of companies -notably the Pennsylvania Railroad-issue consolidated statements, showing results for the system as a whole, whereas the Commerce Commission requires returns from each constituent road separately. It is our purpose that each issue of the "Railway Earnings Section" shall furnish an absolutely complete record of all monthly returns, in whatever form issued, that may be put out by any steam railroad in the United States. Accordingly, we bring together here all the company statements where they differ in any way from the returns to the Commission, or where they embrace more facts than are contained in such returns. It should be distinctly understood that where the company statements are identical with those rendered to the Commerce Commission, and do not include any additional items, we do not undertake to repeat them here. In such cases the reader must look for the figures among the detailed statements on preceding pages, which include every steam road that is obliged to make monthly returns to the Commission. grperating088 revenue expenses Net revenues Operating income Bellefonte Central -Jan. 1 to Dec. 31- -Month of January- 1921. 1020. 1922. 1921. Gross receipts 74,668 124.028 47.101 47,445 OlTratIon 83.050 111,790 5.800 10.764 et Interest and taxes -8,381 2,412 12.237 1.332 1.301 120-3,319 201 Surplus -10,793 10.905 1,181-3,420 Canadian Pacific Gross earnings 11,303,693 12,768,986 22,641.667 27,934,417 Working expenses 10.640.205 11 05 -;.504 21.503 703 25.779.600 Net profits 654,487 813.391 1.137,964 1,454,816 Fonda Johnstown & Gloversville Operating Income-!height revenue -steam division Passenger rev.-electric division.._ All other rev, from transportation_ Rev, from other railway operations Total operating revenues Railway open exp. (not incl. taxes) Net rev. from railway operations Railway tax accruals Railway operating income oper. income (or loss) Total operating income ragstriztantg Income Deduct-Rents for leased roads Other rents accrued-debits.. - Interest on funded debt Interest on unfunded debt Risco'. inc. charges (Fed. taxes) Total deductions from gross Inc_ 44,447 31.921 78.776 62,429 2,587 2,409 5.233 5,203 70,037 64,874 145.853 140,804 2.799 1.391 6.219 3.588 844 1,238 1,762 2.522 120,716 101,834 237,845 214.547 66,418 71.548 136.914 155,022-55 --70-57 --72 54,298 30.285 100,931 59,525 5,775 5,575 11,550 11,150 48,523 24,710 89,381 48.375 --467 --1.092 --1,182-2.113 48,055 23,618 88.198 3,095 3,052 6,106 51,151 26,671 94,304 675 675 1,350 4.414 3,487 8,284 26,549 26,604 53,098 849 785 1,400 32,487 31,552 64,133 Net income 18,663-4,881 Illinois Central System (Including Yazoo & Mississippi Valley) Average miles operated 6,166 6,181 6,166 6,181 Railway operating revenues 12,81,288 12,518,240 25,425.970 27.277,623 tty. op. exp. & uncoil. ry. revs 9,416,678 10,254,470 19,436,700 22,070.932 1,142.395 689.342 2,187.906 1,632,684 Railway operating income 2,258.215 1,574,428 3,801,364 3,574,008 Equip. & joint facility rents net,.. -12,300 139,364 33,133 303.446 Net railway operating income-- 2,245,914 1,713,791 3,834,498 3,877,454 The Kansas City Southern (Including Texarkana & Fort Smith) S 1,548,599 1,813.267 3,059,757 3,777.056 1,137,127 1,327.850 2,266 390 2.743,153 411,472 48.5,417 793.366 1,033,903 110.741 83.372 221.483 168.371 300.730 402,045 571,883 865,530 Missouri Kansas & Texas Miles operated (average) 3.737 3,784 3.744 3.784 Operating revenue 3,737,071 4,770,364 7,589,737 10,383.035 Operating expenses 2,5.!8,018 3.998,659 5.815.092 8.798.267 Net operating revenue 1,209,053 771,705 1,774,645 1,584,767 accrued 181,465 168,743 368,503 330.826 Operating income 1,027,587 602,961 1,406,141 1,253.940 Deduc. from income, less other inc 116,190 165,140 229,873 347.801 Balance 911,396 437,721 1.176.268 906,139 St. Louis-San Francisco (Including Subsidiary Lines) Mileage 5,165 5,165 5,165 5,165 3 4,350,867 4,546,840 8,559,150 9,474,024 1,283,947 1,745.384 2,734,287 3,748,964 Miscellaneous revenues 417,076 652.390 905,192 1,124.309 Total operating revenues 6,051,890 Maintenance of way and structures 722,178 Maintenance of equipment 1,194,705 Transportation expense 2,341,751 Miscellaneous expenses 245,713 Total operating expenses 4,504,347, hire of equip, joint facility rents (less other Income) 309.655 Balance available for rentals, sink. funds, fixed charges, acc 1,237,887 6,944,614 12,198,629 806,083 1,490,284 1,224.198 2,357,612 3,029,372 4,838,224 298 727 540.484 5,359,380 9,226,604 343.832 504,050 1,241,401 2,467,975 14,347,297 1.653.789 2,721,459 6,267,288 663.887 11,306,413 683.721 2,357.163 Pennsylvania System Revenues- Freight 33,24,370 31,834,887 63,949,315 68,74,618 Passenger 11,483,708 13,154.519 24,910,354 29,322,782 Mail 810,148 762,607 1,672,112 1,963,878 Express 789,012 479,339 1,724,505 1,556.177 All other transportation 949.714 855,076 1,951,672 1,805,532 Incidental 1,247,550 1,552,612 2,848.033 3,260,803 Joint facility-credit 40,046 44,514 82.825 92,076 Joint facility-debit 31.285 17.650 47,644 37,440 Railway operating revenues 48,562,263 47,665,904 97,091,172 106737,426 Expenses- Maintenance of way and structures 4,332,894 5,944,034 0,124,754 12.151,434 Maintenance of equipment 12,855.208 16,037,944 25,720,929 33,906,612 Traffic 503,637 564,237 1.172.718 1,262,306 Transportation 19.955,912 25,222.332 40,602,122 55,319,732 Miscellaneous operations 709,816 801,165 1,526,700 1,708,866 General 1,470,043 1,537,993 2,976.717 3,123,301 Transp'n for Investment-Credit.. 605 2,725 1.661 19,947 Railway operating expenses 39,826,907 50,104.950 81.122.279 107452,304 Net rev, from railway operations 8,735,356-2,439,046 15.968,893-714,878 Railway tax accruals 1.133.398 1,175,954 2,664,927 2,798,952 Uncollectible railway revenues 6,586 3,560 11,177 9.336 Railway operating income 7,595.372-3,618.560 13,292,789-3,523,166 Equipment rents-net debit 625.074 888,204 1,285,279 1,565,318 Joint facility rents-net debit_..- Cr859 Cr181,925 27,653 284,168 Net railway operating income 6,971,157-4,688,689 11,979,857-5372,652 St. Louis Southwestern (Including St Louis Southwestern of Texas) 3 3 Operating revenues 1.760,148 1,923.319 3,705,468 4,075.734 Operating expenses 1,462,095 1,697.892 3,056,615 3.533,352 46,262 Net revenue 298,052 225,427 648,852 542,382 5,800 Deduct tax accr. & uncoil. ry. rev.. 73.221 67.578 152.336 136.715 52,062 Railway operating income 224.831 157,848 496,516 405,667 1.350 Add non-operating income 67,923 86,604 139.847 151,715 7,087 Gross income 292,754 244,452 636,363. 557,382 53,208 Deduct interest, rentals. &c 280,468 260,692 571,877 534,838 1.860 Net income 12.285-16.239 64,486 22,544 63,506 30,171-11,443 Southern Pacific Average miles of road operated-- 11,225 11,184 11,221 11,184 Revenues- Freight 11,858,001 13,055,362 24,344,167 26,924,524 Passenger 4,151,896 5,134.477 8,737,245 11,078.023 Mall 283.065 342.650 569,156 637,100 Express 236,331 200,211 589,971 797,909 All other transportation 360,519 502,936 778,901 967,944 Incidental 438,568 600.334 932,885 1,307.326 Joint facility-credit 14,651 8,096 22,734 23,383 Joint facility-debit -4,679 --3.893 --7,055-6,923 Railway operating revenues-- -17,332,355 19,840,167 35,968,006 41,729,284 Expenses- Maintenance of way and structures 2,870,275 2,579,690 5,779,160 5,821,295 Maintenance of equipment 3 396,392 3,557.827 7,149,746 7,946,850 Traffic 340,140 365,030 702,930 730,996 Transportation 6,845,379 8,684,808 14,296,636 18,491,140 Miscellaneous 288,606 352,477 587,985 754,145 General 647.111 701.811 1,343,859 1,394,874 Transp'n for investment-cr,... -40,857 32.438-51.562-23,572 Railway operating expenses---14,347,049 16,209,209 29,808,757 35,059,730 Income - Net rev, from railway operations 2,985.305 3,630,957 6,159,248 6.669,543 Railway tax accruals 1,483,230 1,145,036 2,960,768 2,290,999 Uncollectible railway revenues.. 7,079 10,631 16,187 15,139 Equipment rents (net) 174,266 293,798 450,801 680,843 Joint facility rent (net) 2,379 308,648-26,176 350,700 Net railway operating income- 1,318,349 1,872,842 2,757,667 3,384,223 Railway operating expenses for August 1920 included back pay account of Labor Board award amounting to 6,029.000, also the amount of reserves set up in the accounts for that month account of various unaudited liabilities applicable to the guaranty period. Union Pacific Average miles of road operated- 9,403 9,366 9,403 9,366 Operating Revenues- 9,668.977 8,959,014 19,0/7,700 10,1/5,384 2,072,358 2,713,823 4,487,305 6,049,888 Mail revenue 351.753 352,484 666,751 719,966 Express revenue 247,334 203,687 488,197 559,303 All other transportation 292,509 322,255 615,143 691,417 Incidental 220,264 248,959 430.171 574,793 Railway operating revenues,.,.12,853,195 12,800,222 25,745,267 27,780,751 Operating Expenses- Maintenance of way and structures 1,312.525 1,516.954 2,680.100 3,980.705 Maintenance of equipment 2,719,333 3,095,025 5,513.923 7,014,019 Traffic 252.338 268,743 522,593 570,590 Transportation 4,606,195 4,967,401 9,518,400 10,983,981 Miscellaneous operations 242.195 293,095 499,369 659.030 General 578.564 638.081 1,185.400 1,306.676 Transport'n for investment-cr 7.058 3,827 14,505 13.455 Railway operating expenses. 9,704,092 10,775,472 19,905,280 24,501,546 Income - Net rev, from railway operations- 3,149,103 2,024,750 5,839.987 3,279.205 Railway tax accruals 1,132,703 1,139,213 2,263.051 2,272.615 Uncollectible railway revenues_.- 983 103 2.792 424 Railway operating income 2,015.417 885,434 3,574,144 1,006,166 Equipment rents, net 136,093 167.270 291,872 426.347 Joint facility rent, net 44.595 70,577 113.553 139.370 Net 1,834,729 647.587 3,168,719 440,449 Oper. ratio (revenues over exp.)..., 75.50 84.18 77.32 88.20

NET INCOME UNDER GOVERNMENT CONTROL AS COMPARED WITH THE GUARANTEED RENTAL. From tabulations prepared by the United States Railroad Administration we have compiled the following statement showing for all of the Class 1 roads that is, all roads whose gross revenues from railway operations exceed 1,000,000 per annum the Net Federal Income for the calendar years 1919 and 1918, in comparison with the "Standard Return," or Government Guaranteed Rental. The compilation enables any one to see whether during the period of Government control any given road was operated at a loss or profit to the Government and the extent of such loss or profit. It will be observed that only in a few exeeptional cases did the Government derive a profit from the operation of the roads. The Standard Return represents the average net income for the three-year "test" period, that is, the three years ending June 30 1917, this being the income which the Government agreed to pay to the roads as compensation for the use of their property. The 1919 and 1918 figures of Federal Net Income, the Railroad Administration states, have been taken from the monthly returns which the roads are required to file with the Inter-State Commerce Commission and which are given from month to month in this publication. The figures referred to represent only the last item in these returns. Any one desiring the full details for the different roads, including gross revenues, expenses, &c., will find them in the issue of this publication for Maroh 13 1920. Eastern Region. of New England District Bangor & Aroostook Boston & Albany Boston & Maine Central New England Central Vermont Grand Trunk in New England Maine Central N. Y. N. II. & Hartford Rutland Total Central District Ann Arbor Buffalo Rochester & Pittab Delaware & Iludson Delaware Lack. & Western Detroit & Mackinac Detroit & Toledo Shore Line_ Erie (incl. Chicago & Erie)_.. GrandTrunk Western Lines_ Lehigh & Hudson River Lehigh & New England Lehigh Valley Michigan Central Monongahela New York Central N. Y. Chicago & St. Louls N. Y. Ontario & Western_ N. Y. Susquehanna & Western (Inc!. W. B. & E.) Pero Marquette Pittsburgh & Lake Erie Pittsburgh & Shawmut Pittsburgh & West Virginia Ulster & Delaware Wabash Total Ohio-Indiana District Chicago Indianapolis & Louisv Cincinnati Indianap & West_ CincinnatiNorthern (Neve. On. Chicago & St. L.._ Detroit Toledo & Ironton Hocking Valley Kanawha & Michigan Lake Erie & Western Toledo & Ohio Central Toledo St. Louis & Western Wheeling & Lake Erie (incl. Lorain & West Virginia) Total Average Net Federal Income Miles Road. 1919. 1918. 3 632 107,731 607,177 394 1,951,199 2,232,916 2,376 3,577.108 1,895.400 301 def163.138 57.768 536 def871.205 def689.469 172 def768.5/4def1,105.677 1.216 def1,212.203 def.58/.78f 1,986 6,929.382 7,769.005 415 223.058 42,165 Standard Return Entire Year 1,555,775 4,063,131 9,832,491 1,468,124 828,625 def4,271 2,955,697 17,173,367 1,023,883 8.008 9,775,418 10.227,504 38,901,093 301 575,137 175.013 526 883 590 der/.075,870 1.086,378 3,276.410 875 2.054,575 2,451.695 7,409, 600 996 11,809.921 15.973,193 15,749,477 382 def89.596 34.304 310,664 62 916.852 467,808 456,512 2,259 1.036.370 def2,s46.853 15,729,068 1.002 2.309,600 203.930 1,076,017 97 395,718 363,664 519,371 232 927.354 1,197.761 1,135,761 1.436 3,776.291 6.821,131 11,318,714 1.862 16,969.157 13,692.236 8,052,127 108 1,041.104 650.615 583,086 5.682 48.201.701 46,035,695 51,739,500 574 4.048,631 3,893.167 2,218,857 569 795.047 576,100 2,103,589 228 de f185,871 524,551 999,942 2.232 6.717.880 3,851.485 3,748,196 225 3,501.821 9,880.183 8,980,219 103 der/ 77.302 130.435 613,261 63 def948.908 def3/9.83/ 237,010 129 deff52,754 def57,775 128,009 2,504 864.445 3.714,172 5,826,810 22.511 103,611.503 109,099,456 142,739,083 657 322 252 2.397 456 350 177 903 436 454 415,931 def590.797 493,591 12,981,513 def710.545 1.444,287 171.233 def39.034 den/7,097 760,549 537 1,099.856 747.799 def/58,387 257,750 14,751,312 def7/7,087 2,614,670 1,658,827 397,292 826,951 1,248.218 1,192.764 1,620,259 422,213 317,628 9,938,597 225,895 2,637,167 1,295,141 1,548,542 1,086,651 994,294 1,723,315 6,941 15.909.487 22,820.109 21,809,702 Grand total. Eastern region 37.460 129,296.408 142.147,069 203,449,878 Allegheny Region. Baltimore & Ohio (incl. Coal & Coke) liessomor & Lake Erie Buffalo & Susquehanna Central of Now Jersey Cumberland Valley Grand Rapids & Indiana &ems Island N. Y.. Philadelphia & Norfolk Pennsylvania East Pennsylvania West Philadelphia & Reading Pittsb. Cin. Chic. & St. Louis Staten Island Rapid Transit Western Maryland West Jersey & Seashore Total Pocahontas Region. Chesapeake & Ohio (incl. & O. of Ind) Norfolk & Western Virginian _ Total Central Western Region. Arizona Eastern 378 Atch. Topeka & Santa Fe - 9.444 Chicago & Alton 1,051 Chicago & Eastern Illinois 1,131 Chicago Burlington & Quincy (Incl. Q. 0. & K. (1.) 9.621 Chicago Peoria & St. Louis- _ - 247 Chicago Rock Isl. & Pacific (Incl. 0. R. I. & G.) 8.055 Chicago Terre Haute & S. E..- 374 Colorado & Southern 1,100 Denver & Rio Grande 2,593 Denver & Salt Lake 255 El Paso & Southwestern 1,028 Fort Worth & Denver City 454 Los Angeles & Salt Lake 1,168 Northwestern Pacific 530 Oregon Short Line 2.348 St. Joseph & Grand Island 259 Southern Pacific (Pacific Sys.) 7.048 Toledo Peoria & Western 248 Union Pacific 3,614 Western Pacific. 1,027 Total 5,152 5,066,914 225 2,005.600 297 def409,326 685 1.408.865 164 447,030 570 455.093 398 2,445,212 122 648,692 5,381 8,042,568 1.755 5,786,456 1.629 5,431.888 2.384 def2.505,510 24 68.655 698 deff3/,285 361 11.927 7,193,1 31 4.940,006 113,043 6,375,183 1.848.302 254,425 3.915,059 990.008 19.952.680 4,464,444 11,298,842 2.878,717 33,941 def479.293 deff43.998 28,031,146 4,713,564 591,613 9,352,301 1,228,967 929,385 3,221,949 995,051 51,416,782 14,992,785 17,057,230 11,334,094 356,824 3,079,593 952,682 19.845 28.772,799 63,634,490 148,254,966 2.506 7.523.378 17,060,651 13,266,983 2.088 10,133,638 18,804.782 20,634,142 523 2,555.230 1,952,872 3,247,603 5,117 20,212,246 37,818,305 37,108,728 588,433 40,060.757 def244,395 def423,466 25,428.088 def868,05/ 9,067,41ss def277,580 1,644,897 6,113,737 def945,793 2,993.415 2,912.058 3,353,127 1.103,594 10.754,273 def48,318 32.877,799 dais 17,656 32.873,256 3,575,968 1.479,821 41,709.480 1,817,094 1,560,808 25,089,199 def528,860 9,217,002 769,487 2.868.352 5,492,884 def961,458 4.945,206 1,824,785 2,791,315 1.485,017 10.723,916 clef/ 03.787 34,016.787 def4,377 35,629.321 2.604,528 1,242,475 39,867,072 3,178,315 2,946,001 33,390,080 127,540 15,880,681 922,785 2,481,212 8,319,377 353,290 4,145,102 1,891,386 3,414 751 1 338,000 10,204,619 373,811 36,171,354 159,740 23,670,741 1,900,350 1.973 170.121,574 182,426.498 191,978,682 usss==, == Average Miles of Road. Northwestern Region. Chicago & North Western.. 8,090 Chicago Great Western 1.496 Chicago Milw & St Paul_ 10.647 Chicago St. Paul M. Se 0 1,749 Duluth & Iron Range 289 Duluth Missabe & Northern_ 411 Duluth South Shore & Atlan_ 599 Elgin Joliet & Eastern 829 Great Northern 8,219 Mineral Range 101 Minneapolis & St. Louis 1.647 Minn. St. Paul & S. S. Marie_ 4.243 Northern Pacific 6,593 Oregon-Washington RR. & N. 2,070 Spokane Portland & Seattle 538 Net Federal Income Standard Return 1919. 1918. Entire Year 12,771.197 12.498,939 23,201,016 1,126.605 61.009 2,953,45C 3.250.887 3,933,874 27,945,819 2,698.776 2.631.520 4,934,790 3.082,978 3.824,716 2,355,241 11.401,721 12,495.342 5,122,051 def20.5/7 267,704 562,346 3.322,507 4.781.037 2,862,177 12.827,280 12.368,069 58,666,681 def107,15* 10,827 144,008 def3/4.698 238,577 2,706,994 5,057.635 3,925,862 10,578,977 18,450,790 28,317.433 20,057,760 3,224,299 4.490,859 4,491,88/ 1.652,116 2,694,420 1,871,081 Total 47.521 78,422.402 92,540,188 143,454,271 Southern Region. Alabama & Vicksburg 141 264,097 Alabama Great Southern 312 1,498.327 Atlanta & West Point 93 539,640 Atlanta Bit-m. & Atlantic 640 def948.438 Atlantic Coast Line 4,867 7,213.015 Carolina Clinchfleld & Ohio 291 1,497,782 Central of Georgia 1,918 1,583.989 Charleston & Western Caro 343 171,233 Cincinnati N. 0. & Tex. Pac_ 337 525.956 Florida East Coast 765 1,444,349 Georgia 329 1,328.143 Georgia & Florida 348 def.44/.538 Georgia Southern & Florida 402 62,593 Gulf & Ship Island 306 def8f,384 Gulf Mobile & Northern 438 def98,977 Illinois Centralr - 4,793 4,479,526 Louisville & Nashville 5,013 11.884,568 Louisville Henderson At St. L_ 200 510.724 Mississippi Central 165 def184.901 Mobile & Ohio 997 def1,025,823 Mashville Chatt. & St. Louis_ 1.247 1,242,397 New Orleans & Northeastern_ 204 187.064 New Orleans Great Northern_ 285 14.593 Norfolk Southern 908 163.670 Northern Alabama 113 64.343 Richmond Fred. & Potomac 82 2,763.900 Seaboard Air Line 3,563 1,867,961 Southern 6.983 10.642,549 Southern ItR in Mississippi 278 def70,887 Tennessee Central 293 def536,188 Vicksburg Shrev & Pacific 171 454.510 Washington Southern 36 1.875,153 Western of Alabama 133 569,354 Yazoo & Mississippi Valley 1.382 4.475.913 345.074 2.062,786 660.606 def572,922 11,685.220 1,162,282 3.917,977 549.209 3,092.982 1.633.983 2,256.504 def1w538 351,763 364.779 200.289 12,981,324 19,568,935 848.071 310,921 244,315 4.145,298 990.248 407.939 291.453 192.542 3,025.529 3,658,391 29.512.206 def40.397 deft.488 342,116 1,736.088 621,916 4,499.924 322,854 1,703,188 252,991 480,008 10,180,911 1,627,961 3,408,809 466,921 3,541,048 2,042,849 838,621 88,000 511,457 595,881 558,336 15,282,374 17,310,490 343,918 308,521 2,597,478 3,182,085 1,204,999 519,904 1,266,871 150,581 1,136,974 6,497,021 18,653,895 6,990 162,734 337,948 467,230 288,238 3,862,318 Total 38,374 53.937,173 110.740.325 102,020,391 Southwester Region. Fort Worth & Rio Grande 235 20.514 def6(994 1,30] Gulf Coast Lines 920 1.270.855 1,928.596 1,140,678 Gulf Colorado & Santa Fe.. 1,936 2,466.881 2.854,270 2,828,21e International & Great North_ 1,160 def/.404.787 1,378,645 1,394,946 Kansas City Mex. & Or. Sys_ 737 def1.244.673 6ef692.245 150,000 Kansas City Southern (incl. T. & F S.) 862 2.189,359 3,128,053 3,535,827 Louisiana & Arkansas 302 def146,63.; 36,232 359,362 Midland Vailey 389 343.136 786.580 444,346 Missouri & North Arkansas 365 def664.377 1ef115.861 175,000 Missouri Kansas & Texas 1.714 4.562.769 5,215,538 5,853,831 Missouri Ran. & 'rex. of Tex_ 1,796 deft.4/3.445 def790,996 621,773 Missouri Oklahoma & Gulf 332 def1,041,628 def529,613 def83,603 Missouri Pacific 7.205 4,363,698 11,821.976 14,206,814 St Louis-San Francisco 4.761 14,695,141 11,247,194 13,690,213 St. Louis-San Fran. & Texas_ 134 def179,720 def117,899 def332,951 St. Louis Southwestern 940 3.070.880 3,681.615 3,355,70 St. Louis Southwest. of Texas 815 def1,608,721 def358.255 555,16: San Antonio& Aransas Pass_ - 737 def1,141,723 def126.023 456,684 Sunset Lines (incl. H. & T. C. and H. E. & W. T.) 3,814 9,208,659 13,836,811 8,503,126 Texas & Pacific 1,947 3,621,573 3,719,146 4,107,432 Trinity & Brazos Valley 369 def612,360 6ef430,238 53,158 Wichita Falls & Northwestern 329 def400,256 def488,895 145,2411 Total 31,599 35.055.171 55,972.636 61,588,461 Grand total all r eons 231.889 515.817.773 685,279,511 892,855,396 s Total Now England district 8,008 9.775.418 10.227.504 38,901,093 % of standard return 25.1 26.3 Total Central District 22.511 103,611.503 109.099.456 142,739,083 % of standard return 72.6 76.4 Total Ohio-Indiana District 6,941 15.909,487 22,820.109 21,809,703 % of standard return 72.9 104.6 Total Eastern Region 37.460 % of standard return Total Allegheny Region 19.845 % of standard return Total Pocahontas Region_. 5,117 % of standard return Total Southern Region 38.374 % of standard return Total Northwestern Region,,47,521 % of standard return Total Central Western Region51,973 % of standard return Total Southwestern Region,,,,3I.59) % of standard return 129.296.408 63.8 28,772.799 19.4 20.212,248 54.5 53,937,173 52.9 78.422.402 52.8 170.121.574 88.6 35.055.171 56.9 Grand total all regions _231,889 515.817.773 % of standard return 57.8 142.147,069 69.9 63.634.490 42.9 37,818,305 101.9 110.740.325 108.5 92.540.188 62.3 182.426,498 95.0 55.972 636 40.9 203,449,87/ 148,254,966 37,10E1,728 102,020,398 148,454,277 191,978,689 61,588,468 885.279.511 892,865,89'

B LA IR &" CO. INCORPORATED 24 BROAD STREET NEW YORK Boston Cleveland Milwaukee Rochester Buffalo aiicado Detroit Los Andeles Philadelphia Pittsburd San Francisco St. Louis Syracuse INVESTMENT SECURITIES J11111111011.