. Before the United States Railroad Labor Board : argument for a wage increase . ome 1913 §4,714,000,000 $ 47,000,000 ^ 928,000,000 $4,000,000,000 (S) 1914 3,940,000,000 39,000,000 1,217,000,000 2,800,000,000 1915 5,310,000,000 53,000,000 1,027,000,000 4,230,000,000 1916 8,766,000,000 172,000,000 657,000,000 7,937,000,000 1917 10,730,000,000 2,142,000,000 630,000,000 7,958,OOC,jlO 1918 8,362,000,000 3,159,000,000 690,000,000 4,513,000,000 1919 7,100,000,000 2,600,000,000 500,000,000 4,000, OOl., 0001920^^ 7,000,000,000 1,500,000,000 1,000,000,000 4,500,000,000 Total$,000,000 $39,938,000,
. Before the United States Railroad Labor Board : argument for a wage increase . ome 1913 §4,714,000,000 $ 47,000,000 ^ 928,000,000 $4,000,000,000 (S) 1914 3,940,000,000 39,000,000 1,217,000,000 2,800,000,000 1915 5,310,000,000 53,000,000 1,027,000,000 4,230,000,000 1916 8,766,000,000 172,000,000 657,000,000 7,937,000,000 1917 10,730,000,000 2,142,000,000 630,000,000 7,958,OOC,jlO 1918 8,362,000,000 3,159,000,000 690,000,000 4,513,000,000 1919 7,100,000,000 2,600,000,000 500,000,000 4,000, OOl., 0001920^^ 7,000,000,000 1,500,000,000 1,000,000,000 4,500,000,000 Total$,000,000 $39,938,000,000 (3.) In estimating net income in earl^ years, additions are madefor income not reported. This accounts for seeming discrep-ancy in total. (4.) Estimated on the same basis as previous calculations mmm£ m^ hiViqpKins and ADBiTlONSlIOiC-QRPaRAJE_5liaELilS, 1913 - 1921 -i -. j .■■-! ^^.■:- - ! -■ * : .j^LiJ cdrpMatic NSi ■ !■,■ ■ 7 5 0 0 HiSSiBB /y ^/ 7 0 0 0 -: ■ /y /y ^ y - / ■ / \j i^ \j y^ J / / / / / / ,....U- _j40-0 Q ..XftJip,-. 13,13 ISI* 1915 19 16 ISI7 SIB 19131920 1321 \/// I ADDITION TO S D I VI D E N D S 126 Note the trenii2ndoua to uJ„ of U3« i:-ouai& rcjjo-o^^.. xu- u^.<^8 years, $55,9SS,000,000. The sum staggers the imagination. Itmeans an average net income of over $7,000,000,000. After alltaxes have been deducbed, and all deficits have been subtractedthe total net corporate profits remain at approximately§40,000,000,000. Another fact is in teres the years 1913 to 191f; income reported averaged $4,654,600,000- During the latteryears, however, it ran at a rate of §8,591,600,000 or as large. Even with the deduction of war taxes and defic-its, the average net income remaining during the years of in-flation exceeds the average income of pre war years by over$2,000,000^000. Of course, these enormous sums did not all gD. out in divid-ends. Large portions were added co corporate surpl\:e »
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