. Extension of tenure of government control of railroads. Hearings before the Committee on Interstate Commerce, United States Senate, sixty-fifth Congress, third session, on the extension of time for relinquishment by the government of railroads to corporate ownership and control . per cent in 1913. While equip-ment maintenance increased proportionately, no proper provision was made forequipment depreciation, as the rate used was one-fourth of 1 per cent, whichassumes that the equipment has a life of 4(H) years. The ratio of interest on funded debt to net earnings increased from per
. Extension of tenure of government control of railroads. Hearings before the Committee on Interstate Commerce, United States Senate, sixty-fifth Congress, third session, on the extension of time for relinquishment by the government of railroads to corporate ownership and control . per cent in 1913. While equip-ment maintenance increased proportionately, no proper provision was made forequipment depreciation, as the rate used was one-fourth of 1 per cent, whichassumes that the equipment has a life of 4(H) years. The ratio of interest on funded debt to net earnings increased from percent to per cent in the same period. The Interstate Commerce Commission (vol. •_><), p. 159) finds the surplus oftlie (!hicagO < o., after payment of dividends, to have been as follows : Year. Surplus. Deficit. 1902 $607,,261, 757, 1903 1904 1905 $80, 1906 37,692. 27418, 1907 1908 115, 1909 20,, 28,, 1910 1911 1912 1913 to May 27 976, The funded debt, revenues, and expenses of Chicago & Eastern Illinois Kail-road Co. are reported by the Interstate Commerce Commission (vol. 29, p. 162), as follows : Funded debt, revenues, <ni<l expenses of Chicago d- Eastern Illinois /. /,. 1964 INTERSTATE AND FOREIGN TRANSPORTATION. Funded debt, revenues, and expenses of Chicago & Eastern Illinois R. Continued. R. Co. Fiscal years endedJune 30— 1913 to May 27 70,072, Total fundeddebt (includingequipmenttrust) out-standing onJune 30. 823,975,,909, 25,940,,593,,,015,,,,409,,830,,549,,277,,739, Net interest deductions on funded debt. Totalmileage owned on June 30. 81,224, 1,245,1,612,1,356,1,506,1,829,2,043,2,087,2,136,2,197,2,231,2,9562,954 SSS. tiS in467. 74, TIM715728
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