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REGULATION OF RAILROAD RATES. THE following statement explains important provisions of the "Act to Regulate Commerce," as amended by the acts of June 29, 1906, and June 18, -1910:

The act to regulate commerce requires all rates to be reasonable and just; prohibits preferential rates for transportation service performed under like circumstances and conditions; prohibits undue or unreasonable preferences or advantages in rates or facilities and the charging of a higher rate for a shorter than for a longer haul, over the same line, in the same direction, the shorter being included within the longer haul. It is provided, however, that the commission may, in special cases, after investigation, authorize carriers to charge less for longer than for shorter distances. The commission is authorized to require carriers to establish through routes and joint rates. The commission is also authorized to require carriers subject to the act to construct switch connections with lateral branch lines of rallroads and private sidetracks. The act provides that where two or more through routes and through rates shall have been established shippers shall have the right to designate in writing vla which of such through routes the property shall be transported to destination.

The commission has jurisdiction, upon complaint or in a proceeding Instituted upon its own Initiative, and after full hearing, to determine, and prescribe reasonable rates, regulations, and practices; to award reparation to injured shippers and to require carriers to cease and desist from unjust discrimination or undue or unreasonable preferences.

The commission has authority to suspend tarif's naming new rates or regulations, pending Investigation of the reasonableness of the proposed new rate or regulation. This suspension may be made either upon the commission's own motion or upon complaint, prior to the eflective date of the new tarifi or schedule.

FILING OF SCHEDULES OF RATES. Every common carrier subject to the provisions of this act shall nle with the commission created by this act and print and keep open to public inspection schedules showing all the rates, fares, and charges for transportation between different points on its own route and between points on its own route and points on the route of any other carrier by rallroad, by pipe line, or hy water when a through route and joint rate have been established. Il no joint rate over the through route has been established, the several carriers in such through route shall file, print, and keep open to public Inspection, as aforesaid, the separately established rates, fares and charges applied to the through transportation. The schedules printed as aforesaid by any such common carrier shall plainly state the places between which property and passengers will be carried, and shall contain the classification of freight in force, and shall also state separately all terminal charges, storage charges, Icing charges, and all other charges which the commission may requlre, all privileges or facilities granted or allowed and any rules or regulations which in anywise change, affect, or determine any part of the aggregate of such aforesald rates, fares, and charges, or the value of the service rendered to the passenger, shipper, or consignee. The commission may suspend new rates or regulations before they become effective for a period not exceeding ten months, pending Investigation.

DISCRIMINATION FORBIDDEN. No carrier, unless otherwise provided by this act, shall engage or participate in the transportation of passengers or property, as defined in this act, unless the rates, fares, and charges upon which the same are transported by said carrier have been filed and published in accordance with the provisions of this act: nor shall any carrier charge or demand or collect or recelve a greater or less or different compensation for such transportation of passengers or property, or for any service in connection therewith, between the points named in such tariffs than the rates, fares, and charges which are specified in the tariff fled and in effect at the time; nor shall any carrier refund or remit in any manner or by any device any portion of the rates, fares, and charges so specified, nor extend to any shipper or person any privileges or facilities in the transportation of passengers or property, except such as are specified in such tariffs.

REBATES. The wilful fallure upon the part of any carrier subject to sald acts to file and publish the tariffs or rates and charges as required by said acts, or strictly to observe such tariffs until changed according to law, shall be a misdemeanor, and upon conviction thereof the corporation offending shall be subject to a fine of not less than one thousand dollars nor more than twenty thousand dollars for each offence, and it shall be unlawful for any person, persons, or corporation to offer, grant, or give, or to solicit, accept or receive any rebate, concession, or discrimination in respect to the transportatlon of any property in Interstate or foreign commerce by any common carrier subject to said act to regulate commerce and the acts amendatory thereof whereby any such property shall by any device whatever be transported at a less rate than that named in the tarifs published and fled by such carrier. as 1s req ured by sald act to reg'late commerce and the acts amendatory thereof, or whereby any other advantage is given or discrimination is practised. Every person or corporation, whether carrier or shipper, who shall, knowingly, offer, grant, or give, or solicit, accept, or receive any such rebates, concession, or discrimination shall be deemed guilty of a misdemeanor, and on conviction thereof shall be punished by a nne of not less than one thousand dollars nor more than twenty thousand dollars: Provided. That any person, or any officer or director of any corporation gubject to the provisions of this act, or the act to regulate commerce and the acts amerratory thereof, or any receiver, trustee, lessee, agent, or person acting for or employed by any such corporation, who shall be convicted as aforesaid, shall. In addition to the fine herein provided for, he liable to imprisonment in the penitentiary for a term of not exceeding two years, or both such fine and imprisonment, in the discretion of the court.

Any person, corporation, or company who shall dellver property for Interstate transportation to any common carrier, subject to the provisions of this act, or for whom as conslinor or consignee, any such carrier shall transport property from one State, Territory, or the District of Columbia to any other State, Territory, or the District of Columbia or foreign country, who shall knowingly by employé. agent, omcer, or otherwise, directly or indirectly, by or through any means or device whatsoever, receive or accept from such common carrier any sum of money or any other valuable consideration as a rebate or offset against the regular charges for transportation of such property, as fixed by the schedules of rates provided for in this act, shall in addition to any penalty provided by this act forfeit to the United States, a sum of money three times the amount of money so recelved or accepted, and three times the vallie of any other consideration so received or accepted, tole ascertained by the trial court; and the Attorney-General of the United States 18 authorized and directed, whenever he has reasonable rounds to believe that any such person, corporation, or company has knowingly recelved or accepted from any such common carrier any sum of money or other valuable consideration as a rebate or offset as aforesald, to Institute in any court of the United States of competent jurisdiction, a civil action to collect the said sum or sums so forfelted as aforesald; and in the trial of sald action all such rebates or other considerations so recelved or accepted for a period of six years prior to the commencement of the action may be included therein, and the amount recovered shall be three times the total amount of money, or three times the total value of such consideration, so received or accepted, or both, as the case may be.

SWITCH CONNECTIONS. Any common carrier subject to the provisions of this act, upon application of any lateral, branch line of railroad, or of any shipper tendering Interstate tramc for transportation, shall construct, maintain, and operate upon reasonable terms a switch connection with any such lateral, branch line of rallroad, or private side track which may be constructed to connect with its rallroad, where such connection is reasonably practicable and can be put in with safety and will furnish

sumcient business to justify the construction and maintenance of the same; and shall

furnish cars for the movement of such trame to the best of its ability, without discrimination in favor of or against any such shipper,

LONG AND SHORT HAUL CLAUSE. That it shall be unlawful for any common carrier subject to the provisions of this act to charge or receive any greater compensation in the aggregate for the transportation of passengers, or of like kind of property, for a shorter than for a longer distance over the same line or route in the same direction, the shorter belng included within the longer distance, or to charge any greater compensatlon as a through route than the aggregate of the intermediate rates subject to the provisions of tbls act; but thls shall not be construed as authorizing any common carrier within the terms of this act to charge or receive as great compensation for a shorter as for a longer distance: Provided, however, That upon application to the Interstato Commerce Commission such common carrier may in special cases, after Investigation, be authorized by the commission to charge less for longer than for shorter distances for the transportation of passengers or property; and the commission may from time to time prescribe the extent to which such designated common carrier may be relieved from the operation of this section: Provided, further, That no rates or charges lawfully existing at the time of the passage of this amendatory act shall be required to be changed by reason of the provisions of this section prior to the expiration of six months after the passage of this act, nor in any case where application shall have been Aled before the commission, in accordance with the provisions of this section, until a determination of such application by the commission.

Whenever a carrler by rallroad sball in competition with a water route or routes seduce the rates on the carriage of any specles of freight to or from compe*itive points. It shall not be permitted to Increase such rates unless after hearing by the Interstate Commerce Commission it shall be found that such proposed increase rests upon changed conditions other than the elimination of water competition.

HEARING OF COMPLAINTS. Whenever, after full hearing upon a complaint made as provided in section thirteen of this act, or after full hearing under an order for investigation and hearing made by the commission on its own Initiative (elther in extension of any pending complaint or without any complaint whatever). the commission shall be of opinion that any individual or jolt rates or charges whatsoever demanded, charged, or collected by any common carrier or carriers subject to the provisions of this act for the transportation of persons or property or for the transmission of messages by telegraph or telephone as defined in the first section of this act, or that any Individual or joint classifications, regulations or practices whatsoever of such carrier or carriers subject to the provisions of this act are unjust or unreasonable or unjustly discriminatory, or unduly preferential or prejudicial or otherwise in violation of any of the provisions of this act, the commission is hereby authorized and empowered to determine and prescribe what will be the just and reasonable individual or joint rate or rates, charge or charges, to be thereafter observed in such case as the maximum to be charged, and what individual or joint classification, regulation, or practice is just, fair and reasonable, to be thereafter followed, and to make an order that the carrier or carriers shall cease and desist from such violation to the extent to which the commission finds the same to exist, and shall not thereafter publish, demand, or collect any rate or charge for such transportation or transmission in excess of the maximum rate or charge so prescribed, and shall adopt the classification and shall conform to and observe the regulation or practice so prescribed. Burden of proof to show reasonableness of increased rates Is on carrier.

ESTABLISHMENT OF THROUGH ROUTES AND JOINT RATES, The commission may also, after hearing, on a complaint or upon its own initiative without complaint, establish through routes and joint classifications, and may establish joint rates as the maximum to be charged and may prescribe the division of such rates as hereinbeiore provided and the terms and conditions under which sich through rates shall be operated, whenever the carriers themselves shall have refused or neglected to establish voluntarily such through routes or joint claszlocations or joint rates: and this provision shall apply when one of the connecting carriers is & water line. The commission shall not, however, estabilsh any tl:rough route, classification or rate between street electric passenger rallways not engaged in the general business of transporting freight in addition to their passenger and express business and railroads of a different character, nor shall the commission have the right to establish any route, classification, rate, fare, or charge when the transportation is wholly by water,

RIGHT OF SHIPPERS TO DESIGNATE ROUTING OF EHIPMENTS. In all cases where at the time of dellvery of property to any rallroad corporation being a common carrier, for transportation subject to the provisions of this act to any point of destination, between which and the point of such delivery for shipment two or more through routes and through rates shall have been established as in this act provided to which through routes and through rates such carrier Is a party, the person, frm, or corporation making uch shipment, subject to such reasonable exceptions and regulations as the Interstate Commerce Commission shall from time to time prescribe, shall have the right to designate in writing by which of g'ich through routes such property shall be transported to destination, and it shall thereupon be the duty of the Initial carrier to route said property and Issue a throurh bill of lading therefor as so directed, and to transport said property over its own line or lines and deliver the same to a connecting line or lines according to such through route, and it shall be the duty of each of sald connecting carslers to recelve said property and transport It over the sald line or lines and dellver the same to the next succeeding carrier or consignee according to the routing instructions in sald bill of lading: Provided, however, That the shipper shall in all instances have the right to determine, where competing lines of railroads constitute portions of a through line or route, over which of said competing lines so constituting a portion of sald through line or route his freight shall be transported.

COMMODITIES CLAUSE. From and after May 1, 1908, It shall be unlawful for any rallroad company to transport from any State, Territory, or the District of Columbia, to any other State, Territory, or the 1 Istrict of Columbia, or to any foreign country, any article or commodity, other than timber and the mannfactured products thereof, manufactured, mined, or produced by'it, or under its authority, or which It may own in whole or in part, or in which It may have any interest, direct or indirect, except such articles or commodities as may be necessary and intended for its use in the conduct of its business ag & common carrier


WASHINGTON, D. C. James S. Harlan, of Illinois, Chairman; Judson C. Clements, of Georgia; Henry C. Hall, of Colorado; Edgar E. Clark, of lowa; Charles C. McChord, of Kentucky; Balthasar H, Meyer, of Wisconsin; Winthrop M. Daniels, of New Jersey; George B. McGinty, Secretary.

STATE RAILROAD COMMISSIONERS. Alabamn Railroad Commission-Mont Minuesota Railrond and Warehouse gomery

Uhas, Henderson, President; Leon Commission--St. Paul. Ira B. Milis, Chairman; McCord, Frauk N. Juliau; S. P. Kennedy, Secre- C. E. Elmquist, O.P.B. Jacobsou; A.C. Clausen, tary.

Secretary. Alnska Railroad Commission-William Mississippi Railroad Commission--Jackc. ldes, Chairman; Frederick Meurs, Thomas son. F. M. Sheppard, President; Gev. K. kuRiggs, Jr.

waris, W. B. Wilson; James Galcera, secretary. Arizona Corporation Commission-Phoe

Missouri Public Service Commissie nix. W. P. Geary. Onairinan; A. W. Cole, F. A.

Jefferson City. John M. Atkinson, Chairman;!. Joues: Frank De Souza, Secretary,

A. Wightmail, Wm. F. Woerner, John Kinnish,

Howard B. Shaw; T. M. Bradbury, Secretary, Railroad Commission of Arkansas - Little Rock. W. F. McKuight, Chairman; George T.

Railroad Commission of Moutava-llel

en&. Breckenridge, J. S. Rowland; Ernest Tipton,

D. Boyle, Chairman; J. H. Hall, E. A. Secretary.

Morley; R. F. Mclaren, Secretary.

Nebraska Ntate Railway Commission-Railrond Commission of California-San

Lincoln. H. T. Clarke, Chairman; H.6. Taylor, Francisco. John M. Eshk-mun, President; H. D.

Thos, S., Hall: A. B. Allell, Secretary. Loveland, Alexander Gordou, Max Thelen, E. O.

Nevada Public Service Commi-sion-CarEgerton; Chas. R. Detrick, Secretary.

son City. H. F. Bartine, Chairmall; W. H. SinPublic Uuilities Commission of Colorado mons, J. F. Shaughnessy;E, H, Walk r, Secretary. -Denver. A. P. Anderson, ('bairman; Sheridan

New llampshire Public Service ComS. Kendall, George T. Bradley; John W. Flint. mission-Concord. Edward C. Niles, Chairman; ham, Secretary.

Thos. W. D. Worthen: John E. Benton, Clerk. Counecticat Public Utilities Commission Bonrd of Public Utility Coninissioners -Hartford. Richard T. Higging, Chairma; T. B. for the state of New Jersey-Trenton. Ralph Ford, John 11. Hale; Henry F. Billings, Secretary. W. E. Douges, President; Thos. J. Hillery, Johu

Public Utilities Commission of the Dis- J. Trency: A. N. Barber, Secretary. trict of Columbia- Washington, D. C. Lieut. State Corporation Commission of New Col. Chester Ilaring, Chairman, Frederick L. Mexico-Santa Fé. M. S. Groves, Chairman); Siddons, Oliver P. Newman; Capt. Julian L. Hugh H. Williams, O. L. Oweu; Edwin F. Coard, Bchley, Executive Officer.

Clerk. Railrond Commissioners for the State New York Public Service Commissionof Florida - Tallahassee. R. Hndson Burr, First District (Greater New York) New York Chairma; N. A. Blitch, Royal C. Dunn; J. Will City. Edw'd E. McCall, Chairman; Gieo. U.S. WillYon, Secretary.

iams, J. Sergeant Cram, Milo R. Malthie, Roberi Railrond Commission of Grorgin- c. Wood; T. H. Whitney, Secretary. Second Atlanta, C. M. Candler, Chairman; George Hill District (All of State outside (reater New York) yer, Paul B. Trammell, J. A. Perry, Joseph F. Albany, N. Y. Seymour Van Santvoord, Chair. Gray: ('amphell Wallace, Secretary.

mun; William T. Knimet, Frank Irvine, Martin Idaho Public Utilities Commission-Bolsé. s. Decker, D. P. Houson; Frauk H. Mott, SecreJ. A. Blomquist, President; Axel P', liamstedt, tary. D. W. Stand rod: E. (1. (allet, Secretary

North Carolinn Corporation Commis.. Public Utilities Cominission of Illinois-sion - Raleigh. Edward L. Travis, Chairman: Springfield. Juines E. Quan, (hairinan; 0). P. Geo. P, Pell, Wm. T. Lee: A. J. Marwell, Clerk. Thompson, Richard Yates, Frank H. Funk, North Dakota Coinmi wioners of Rail. Walter A. Shaw; R. V. Prather, Acting Sec roads - Bismarck. W. H. Statsman, President;: retary.

0. P. V. Anderson, W.H. Mann; Walter F. CushPublic Service Commission of Indiana-ing. Secretary, Indianapolis. Thos. C. Dincan, ('huirman; John Public Utilities Commission of OhioF. Meclure, Jas. L. Clark, Charles A. Edwards, Columbus. 0. H. Hughes Chairma11: Exlward W. Chas. J. Murphy; J. L. Heiley, Secretary.

Doty, e, C. Marshall; (!, A. Radcliffe, Secretary. Lowa Bonrd of Railrond Commissioners Corporation Commission of Oklahoma -Des Moines, C. Thorne, Chairman; N. S. Ket Oklahoma City. J. E. Love, Chairman; A. P.Walchun, David J. Palmer; Geo. L. McCaughan, son, Geo. A. Henshaw; J. H, Ilyde, Secretary. Secretary

Railroad Commission of Orgon-Salem. Kansas Public Utilities Commission Frank J. Miller, Chairman: Thos. K. Campbell, Topeka. C. F. Foley, Chairmani; James A. Clyde B. Aitchison; H. H. Cores, Secretary, Cable, John M. Kinkel; W. P. Feder, Secretary. Public Service Commission of the Com

Kentucky Railroad Commission - Frank monwenlth of Pennsylvania - Tarrishury. fort. Laurence B. Finn, Chairman; Wm. F. Samuel W. Pennypacker, Milton J. Brescht. Klair, H. G. Garrett ; Richard Tobin, Secretary. S. LA Rue Tone, Emory R. Johnson, Charles F.

Railrond Commission of Louisiann Wright, Frank M. Wallace; Archibald B. Millar,
Baton Rouge. Shelby Taylor, Chairman; John Secretary.
T. Michel, Burk A. Bridges; Henry Jastremski, Public Utilities Commission,P.I.-Manila,

Marino Cuni, Chairman;

Vephe, Bonsal, Clyde A. Railroad Commission of Maine-Augusta. De Witt: Clifford C. Mitinell, Secretary. Elmer P. Spofford, Chairman; John A. Jones, Rhod: Bland Public Uti ities' ('ommis. Frank Kizer; (ieo. F. Giddings, Clerk.

sion-Providence, Wm. ( Blix, Chairman; Maryland Public Service Commission Samuel E. Indison, Roht. F. Rodman; John W. Baltiniore. Albert G. Towers, Chairman; W. L. Rowe, Secretary. Henry, E. Clay Timanns; B.T. Fendall, Secretary. South Carolina Railrond Commissjon.

Massachusetts Public Service Commis. ers-('olumbia. John(i, Richards, Jr., Chairman; sion-Boston, Frederick J. Macleod, Chairinan: B. I. Caughman, G. McD. Hampton; J. P. Darby, Clinton White, George W. Anderson, Everett Secretary. E. Stone, John F. Meaney; Audrew A. High South Dakota Railroad Coin mission lands. Secretary.

Pierre. F. C. Robinson, Chairm:1; J. J. MurMichigan lailrond Commission-Lansing. phy, W.G. Smith: T.E.(assill, Secretary. Lawton T. Hemuns, Chairman; (. s. Cunning. Tennessee Railrond Commissio 1 - Nashham, O. L. Glasgow; Willard N. Sweeney, Secre ville, B. A. Euloe, (hairman; Frnik A veut, H. tary

1 H. Handah; Miss Willie Fields, Secretary.

RAILROAD COMMISSIONS-Continued. Railroad Commission of Texas-Austin. / Ison. John H. Roemer, Chairman; David Harlowe, Allison Mayfield, Chairman; Karle B. Mayfield, Halford Erickson; Lewis E. Gettie, Secretary. W. D. Williams; E. R. McLean, Secretary.

Manitoba Public Utilities CommissionVermont Public Service Commission-Winnipeg, Canada. H. A. Robson, Commissioner; Bruttleboro. Robert C. Bacon, Chairman; Wm. A. W. Sniith, Secretary. R. Waruer, Park H, Pollaru; Neil D. Clausson, New Brunswick Public Utilities Com. Clerk.

mission-St. Joha, N. B. Geo. 0. Dickson Ouy, State Corporation Commission of Vir-Chairman; A. B. conuell, Felix Michaud, Fred . ginja-Richmond. Robert R. Prentis, Chairman; Robinson, Clerk, P. 0. Box 647, Fredericton. William F. Rhea, J. R. Wingfield; R. T. Wilson, Nova Scotia Board of Commissioners of Clerk.

Public Utilities-Halifax, N. S. John U, Ross, Public Service Commission of Washing- Chairman; R. T. MacIlreith, Vice-Chairmau; ton-O.ympia. Charles A. Reynolds, Chairman; Parker R. Colpitt; Laura B. Taylor, Secretary. Arthur A. Lewis, Frank R. Spinning; J. H. The Ontario' Railway and Municipal Brown, Secretary.

Board -Toronto, Ont. D. M. McIntyre, ChairWest Virginia Public Service Commis. mau; A, B. Ingram, Vice-Chairman; H. N. Kiusion Charleston. Lee Ott, Chairman; Howard son, Corinissioner; H.C. Small, Secretary. N. Ogden, C. H. Bronson, W. C. Kilmer; R. B. Quebec Public Utilities Commission-QueBernheim, Secretary:

bec, (anula. F. W. Hibbard, President; Sir George Ruilroad Commission of Wisconsin-Mad-Garneau, F.C. Laberge; M. Jos. Aheru, Secretary.

RAILROAD STATISTICS. (From Report of Interstate Commerce Commission for fiscal year ending June 30, 1913, and made from the annual reports of carriers having gross operating revenues

of $100,000 or more for the year. ) On June 30, 1913, the roads covered by this Expenditures for additions and betterments report represented 244,418.49 miles (single track) and for new lines and extensions during fiscal of line operated, including 11,162.97 miles used year 1913, $680,084,873. under trackage rights. The aggregate mileage of railway tracks of all kinds covered by these roads 495,571; adjustments, $5,058, 790; difference

Credits-Property retired or converted, $79,was 369,579.80 miles, an increase of 8,628 36 between record value of granitor und purchase miles over corresponding returns for 1912.

price of grantee in case of roads sold, merged, of the total number (63,378) of locomotives, consolidated, etc., $118,470,872: total, $203, 14,396 were classified as passenger, 37,924 freight, 025, 233; net increase during yoar, $477,050, 640, 9,834 switching, and 1,224 unclassified.

Passengers carried, 1,033, 679,680; passenger The total number of cars of all classes was mileage, 34,575,872, 986; tons of freight moved, 2,445,508 (or 76,566 more than on June 30, 1912), 2,038,035, 487; ton mileage, 301,398, 752, 108. as follows: Passenger service, 51, 700; freight, Traffic earnings Passengers, $695,987.817; 2,273,564; companies' service, 120, 244.

freight, $2,198,930,565 and including reveone Investment in road and equipment-The figures from miscellaneous sources, making total operatinclude returns for investment in road and quip- ing revenues $3,125,135,798. ment, shown by the operating roads, as well as Operating expenses- Maintenance of way and by their subsidiary non-operating roads (leased, structures. $421.232,395; maintenance of paninoperated under contract, etc.).

ment, $511,561,363; tratticexpenses, $62,850,113; Investment to June 30, 1912, 815,874,579.626; transportation expenses, $1,096,252,745, generad investment to June 30, 1913, $16,351, 639,266; expenses, $78,072,308; total operating expenses, increase 1913 over 1912, $477,059,640.


CAPITALIZATION OF RAILWAY PROPERTY. On June 30, 1913, according to the annual reporty siihmitted to the Interstate Commerce Commission by roads having gross operating revenues of $100,000 or more, together with returns made in reports filed in behalf of their non-operating subsidiary lines, the par value of the amount of railway capital outstanding was $19,798,125, 712. This amount incluries capital held by the railway conpanies concerned, as well as by the public. of the total amount of such capital ontstanding there existed its stock $8,610,611,327, of which $7, 231,515,045 was common and $1,379,096,282 was pre ferred; the remaining part, $11,185,514,385, representing funded debt, consisted of mortgage bonds, $8,186, 366, 426; collateral trust bonds, $1,189,636, 796; plain bonds, dehentures, and notes, $1,107,078,783 ; income bonds, $250, 290,655; miscellaneous funded obligations, $82,858, 275, and equip ment trust obligations, 369,285, 450.

of the total capital stock'outstanding for the roads under consideration, $2,836,023,744, or 32.94 per eent., paid no dividends. The amount of dividends declared during the year (by both operating and non-operating companies represented in this statement) was $368,606,327, being equivalent to 6.38 percent. onclividend-paying stock. The average rate of dividends paid on all stocks outstanding pertaining to the roads under consideration was 4.28 per cent. No interest was paid ou $1,128,776,748 or 10,44 per cent., of the total amount of funded debt outstanding (other than equipment trust oblie gations).

PASSENGER RAILWAY RATES IN EUROPE. PASSENGER rates difter considerably in the different countries, Most of the railroads are owned and operated by the state, but in some countries there are both state and private roads, and in England the railroads are all private corporations. The following are approxiinate passenger rates, reduced to cents per mile, in the various Europ-an countries: Class I. Class II. Class III.

Class I. Class II. ClasIII. OWNERSHIP. Cents, Cents. Cents, OWNERSHIP.

Cents, Cerits.
Germany, (State).......

1.74 1.16

Netherlands, (state) 3.30 2.48 1.16 Belgium, (state)..

1.98 1.17

(private).. 3.32 2.50 1.68 France, (site).........

2.36 1.54 Italy, (state).

3.60 2.32
(private).. ...... 3,48

1.54 United Kingdom.(priv.) 4.70 8.18 1.78 In Italy the rate per mille is higher than on any other state-owned road, thongh a differential tariffolers some avantages that iend to reduce the price and to make the long-distance journeys as cheap as in other countries,

Principal Railroad Systems of United States and Canada



SYSTEMS, LOCATION, AND Divisions, Mileage, and Operating

General Officers. FINANCIAL DATA.


President, E. P. Ripley, Chicago

nl.; Vice-Presidents, W.B.Storey, Atchison, Topeka and

Chicago, III.; Edward Chambers, Santa Fe Ry. System.

Chicago, Ill. ; W. E. Honiges, -"Santa Fe,"

Chicago, Il ; General Managers, (Illinois, Iowa, Missouri, Atchison, Topeka & Santa Fé Ry., C. W. Kouns, Topeka, Kan.; A.

Kansas, Nebraska, Colo 8,470.02 m., Rio Grande, El Paso & G. Wells, Los Angeles, Cal, ; F. rado, Texas, New Mexico, Santa Fé R. R., 20.22 m.; Gull, C. Fox, Amarillo, Tex.; W. A. Arizona, California, Okla Colorado & Santa Fó Ry., 1,852.34 Drake, Prescott, Ariz. ; Freight homa, Louisiana, Nevada.) m. ; Grand Canyon Ry., 64.11 m.: Trallic Manager, F. B. Houghton, For yrar ending June 30. 1914. Panhandle & Santa Fe Ry., 748.95 Chicago, Ill. Passenger Traffic Total earnings.....8111,109,769 m.; Kansas Southwestern Ry.,69.30 Manager, W. J. Black, Chicago, Operating expenses 73,469,333 m., St. Louis, Rocky M. & Pre.. 111.; Secretary, E. L. Copeland, Netearnings......$37.640,436

106.04 m. Total mileage, 11,320.98. Topeka, Kan.: Assistant SecreOther income....... 2,174,353 EXPRESS Co.-Wells Fargo & C. tary, L. C. Deming, New York.

General Offices, Chicago, Ill.;ToTotal net income. $39,814,789

peka, Kan.; Los Angeles, Cal.; Total payments...... 39,814,789

New York Omices, 5 Nassau St.,

377 Broadway. Atlantic Coast LineR.R. (Virginia, North Carolina,

President, John R. Kenly;. Ist South Carolina, Georgia,

Vice-President, Alex. Hamilton, Florida, Alabama. )

Petersburg, Va. ; 2d Vice-Presi. For year ending June 30, 1913. Virginia, 135.34 m.; North Carolina, dent, C. S. (iadsden, Charleston, Total earnings $36,123,072 1,033.95 m.; South Carolina, 913.41 S. C., 3d Vice-President, Operating expenses 24,635,532 m.; Georgia, 717.03 m.; Florida,

; 4th Vice-President, R. A. Net earnings.....$11,487,510 1,613.58 m.; Alabana, 247.74 m.

Brand : (eneral Manager, W. N. Other income......

Royall; Secretary, II. L. Borden,
Total mileage, 4,661.05.
EXPRESS Co.-Southern.

New York, General Oilices, WilTotal net income.$15,209,448

mington, N.C.; New York Oitices, Total payments.... 11,916,407

71, 407, and 1218 Broadway. Surplus........... 83,293,041

Baltimore & Ohio R.R. (New Jersey, Pennsylvania,

President, Daniel Willard: 1st ViceDelaware, Maryland, Dis

President, George F. Randolph; trict of Columbia, Virginia,

2d Vice-President, George M. West Virginia, Ohio, n

Shriver; 3d Vice-President, Imois, Indiana, Kentucky,

A. W. Thompson; 4th Vice-PresiMissouri. )

dent, J. V. McNeal; Secretary, For year ending June 30, 1914. Lines included in income account,

C.W. Woolford; General Freight Total earnings,... $97,411,441 4,516.22 m.

Traffic Manager. c. S. Wight; Operating expenses 72,054,892 EXPRESS Co.-Wells Fargo & Co.

Manager Passenger Traffic, 0, P. Net earnings..... $25,366,519

Mccarty: General Manager, C. Other income...... 6,017,719

W. Galloway. General Onlices,

Baltimore, Md. ; New York Total net income. $31,374,88

Offices, 3 Wall Street, 377 BroadTotal payments.... 33,613,094

way, 17 State St.
Deficit ........... $2,268,736
Bangor and Aroostook

Brownville to Caribon, 155 13 m.;

oldtown to Greenville, 76.13 m.; (Maine.)

Ashland Junction to Fort Kent,
For year ending June 30, 1914.
Total earnings... $3,795,412

91.87 m.; Caribou to Van Buren, Operating expenses 2,411,889

53.40 m. ; South Lagrange to Sears- President, Percy R. Todd; General
port, 54.1
m. ; Sto hol

to Squa Manager, J. B. Stewart, General Net earnings. $1,383,633

Pan, 48 m.; So. Lagrauge to Pack Offices, Baugor, Me.
Other income..... 171,569 ards, 37.96 m.; Van Buren to Fort

Total net income.$1,535,092 Kent, 43.72 m.; branches and spurs,
Total payments. ... 1.461,714 235.65 m. Total mileage, 784.63

EXPRESS Co.-American.


Boston and Albany R. R.
(Massachusetts, New York.] Main Line, Boston, Mass., to Albany,
For year ending Der, 31. 1913. N. Y., 200 m.; Ware River Br., 49 m.;
Total earnings.. $17,719,361 Athol Br.. 45 m.: Pittsfield and
Operating expenses 1:3,151.423 North Adams Br.. 19 m.; Hudson Vice-President, H.M, Biscoe, Gen-
Vet earnings..... $4,569,141

and Chatham Br., 17 m.; Milford eral Offices, Boston, Mass. Other income.... 359 876 Br., 12 m.; Webster Br., 11 m.;

other branches, 39 m. Total mileTotal net income. $4,928,016

age. 392. Total payments... 6,448,735 EXPRESS Co.-American,

Deficit......... $520,719

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