| Show WHY VIS RAILROADS AUK alle NOT THEIR LINKS INNS AND NOT EQUI WITH H E NOUGH ANH AND CARS for tho the year ending december 31 1916 tho the railroads ot of california earned carried a net return oil an their investment in that state of oc only per c cent c n t that Is tho the testimony ony ot of pr arcs william sproule of the southern pac itic before tho the state railroad commission lul salon speaking of tho the railroad situation in general president sproule said tile tho situation which confronts the carriers ot of california la in in ren gen oral fral tho the same as that which confronts the carriers of the untied united states operations erat ions of the railroads of the united states for the first three months of his year show khow a gross revenue reven I 1 I 1 0 increase of 0 ove ra co corresponding period ot of tuai lust year with an increase in taxes of this means notwithstanding increased increased gross earnings that operating income for such periods decreased or per cent in california taking the property investment for 21 roads which embrace about all the rall rodas in the state tor for tho year ending december 1916 their investments amounted to their gross revenues to their operating expenses to and their taxes to leaving their not operating revenue that Is a ratio ot of return on oil investment ot of per pa cent in 1910 the investment of the southern pacific was and in 1916 it had risen to an increase ot of tho the net operating revenue exclusive of taxes hire of equipment and rental of oe joint facilities in fit 1910 was and in 1916 it was 42 this means that with an increase ot of tit in the property investment front from 1910 to 1916 tile the net operating revenue practically remained stationary but tile the taxes increase ed cd from in 1910 1010 to in 1916 1016 after payment ot of the charges and taxes in 1910 the net operating income amounted to something over while in 1916 it amounted to something less leas than guthat notwithstanding increased business busl nesa and gross earnings the increase in fit wages and cot of material supplies and fuel oil and taxes re results stilts in a decrease tit in the net revenue anti and it Is the net that counts whether in railroading or other lines of business |
