. Principles of railroad transportation . into four groups—an eastern, a southern, a western, and a Mountain-Pa-cific—and the express company makes a financial settle-ment with the railroads of each group as a whole. Fromits gross receipts the express company first pays operatingcharges, rentals and other expenses, and deducts an amountsufficient to pay the interest and discount on funds borrowedand expended for additional property and equipment. Thesums thus borrowed, as long as they remain unpaid, arenot considered as a part of the capital value of the expresscompanys property. The sum remai
. Principles of railroad transportation . into four groups—an eastern, a southern, a western, and a Mountain-Pa-cific—and the express company makes a financial settle-ment with the railroads of each group as a whole. Fromits gross receipts the express company first pays operatingcharges, rentals and other expenses, and deducts an amountsufficient to pay the interest and discount on funds borrowedand expended for additional property and equipment. Thesums thus borrowed, as long as they remain unpaid, arenot considered as a part of the capital value of the expresscompanys property. The sum remaining after these de-ductions are made is termed income for division. Fromthis is first set aside 2,y2 per cent for the express remaining balance, designated as net income for divi-sion, is distributed among the railroads in each group,each separate railroad company receiving an amount in theproportion that the gross express transportation revenueearned as its line bears to the revenues earned by all thelines in the Section of Expbkss Map Showing Method of Numbering Blocks THE LIBRARY OF THE UNIVERSITY Or ILUKCiS EXPRESS SERVICE OF RAILROADS 209 Should the 2y2 per cent of the income for division re-served by the express company exceed 6 per cent of thecapital value of the express companys property, the ex-press company agrees to divide the excess profit equallywith the railroads. The one-half accruing to the expresscompany is to be accumulated until it reaches a sum equalto 10 per cent of the capital value of the companys prop-erty, after which the excess profit is to be divided one-fourth to the express company and three-fourths to therailroads. The railroads share of the profit is distributedfirst among the groups and then among the individual car-riers on a stipulated basis. The system of rates and classification used by the ex-press companies on traffic shipped in interstate commerceat the present time was promulgated by the Interstate Com-merce Commi
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Keywords: ., bookcentury1900, bookdecade1920, bookpublishernewyo, bookyear1921
