Annual Report on the Statistics of Railways in the United States, the Interstate Commerce Commission for the Year Ending ...

Front Cover
U.S. Government Printing Office, 1880 - Railroads
0 Reviews
1921-1942 contain abstracts of periodical reports.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Popular passages

Page 2 - ... property, franchises, and equipments; the number of employees, and the salaries paid each class; the amounts expended for improvements each year, how expended, and the character of such improvements; the earnings and receipts from each branch of business and from all sources; the operating and other expenses; the balances of profit and loss, and a complete exhibit of the financial operations of the carrier each year, including an annual balance sheet. Such reports shall also contain such information...
Page 2 - Act, prescribe (if in the opinion of the Commission it is practicable to prescribe such uniformity and methods of keeping accounts) a period of time within which all common carriers subject to the provisions of this Act shall have, as near as may be, a uniform system of accounts, and the manner in which such accounts 'shall be kept.
Page 1 - That the Commission is hereby authorized to require annual reports from all common carriers subject to the provisions of this act, to fix the time .and prescribe the manner in which such reports shall be made, and to require from such carriers specific answers to all questions upon which the Commission may need information.
Page 1 - Such annual reports shall show in detail the amount of capital stock issued, the amounts paid therefor, and the manner of payment for the same ; the dividends paid, the surplus fund, if any, and the number of stockholders; the funded and floating debts and the interest paid thereon; the cost and value of the carrier's property, franchises, and...
Page 6 - Congress to assure it a trustworthy estimate of the relation existing between the present worth of railroad property and its cost to those who are proprietors of it. It was felt that the estimate of social agitators on the one hand, and of men interested in the present status of the property on the other, might be far from the truth.
Page 18 - All expenses which are naturally chargeable to either freight or passenger traffic should be entered in their respective columns in the report; expenses which are not naturally chargeable to either traffic should be apportioned on a mileage basis, making the division as between freight and passenger traffic in the proportion which the freight and passenger train mileage bears to the total mileage of trains earning revenue. The expenses incurred in connection with mixed trains, not herein specifically...
Page 15 - The same general law obtains, and always has obtained throughout the world, that such properties (as railways) are always built on borrowed money up to the limit of what is regarded as their positive and certain minimum value. The risk only — the dubious margin which is dependent upon sagacity, skill, and good management — is assumed and held by the company proper who control and manage the property...
Page 6 - ... their right to the property absorbed. But of greater significance is the fact that in many instances the books of railway corporations do not go beyond settlements with construction companies; that is to say the investigation demanded by Congress is pushed back into the realm of vest-pocket bookkeeping and a conveniently failing memory.
Page 6 - ... the basis of further legislation. Under such circumstances the need of an estimate by competent authority, free from outside influences, and clothed with ample power for the investigation was recognized as imperative. Such without doubt was the purpose of Congress in demanding information respecting the " cost and value of the carrier's property, franchises, and equipment." This office therefore is placed under the legal obligation of making inquiry into the "cost and value
Page 14 - ... leaving 4.87 per cent, in the form of current liabilities. The significance of the facts thus disclosed will be readily seen if the peculiar nature of each form of property is held in mind. In theory stocks represent the property of the responsible owners of the road, and bonds are an iucunibrance on that property.

Bibliographic information