. Elements of transportation, a discussion of steam railroad electric railway, and ocean and inland water transportation . liQAX or Xsx., XOO». PRIXC3IPAL DUTE 194^8. PAXAf L£ IIV GOLU COEN j TRUSTEES CEUTIFIGVIE. /t/iih/nr/tyMj.^^d/fr/f/ir/iisfy^/ifr/./ii/i/.. //> //,WJ. (fiifi/ /III f/I II iznf. i:i rriilii/fiiii/iMiiiiii /,iJl/irsiii//fi 111/111/11/filfiifiI-^f^--^/jittri/iiiiii/Ei/iiiiiiiifSiiiit/ /// /unnii/. tiiiifl/Niisiii-riSsriX. rfl/niiit/iiin/,isfiifi mihi/iifjiiisr/iii/,iNii/r/r/zi/iifrnif/f^,i„i//iiiiiifiisrs t/irrn/i ninilii/iii//i-^iriiii
. Elements of transportation, a discussion of steam railroad electric railway, and ocean and inland water transportation . liQAX or Xsx., XOO». PRIXC3IPAL DUTE 194^8. PAXAf L£ IIV GOLU COEN j TRUSTEES CEUTIFIGVIE. /t/iih/nr/tyMj.^^d/fr/f/ir/iisfy^/ifr/./ii/i/.. //> //,WJ. (fiifi/ /III f/I II iznf. i:i rriilii/fiiii/iMiiiiii /,iJl/irsiii//fi 111/111/11/filfiifiI-^f^--^/jittri/iiiiii/Ei/iiiiiiiifSiiiit/ /// /unnii/. tiiiifl/Niisiii-riSsriX. rfl/niiit/iiin/,isfiifi mihi/iifjiiisr/iii/,iNii/r/r/zi/iifrnif/f^,i„i//iiiiiifiisrs t/irrn/i ninilii/iii//i-^iriiii /hi///■/it/(iiii/iiiii/l/iiniii s//A/f/iGIRAKD TRUST Bond. 64 ELEMENTS OF TRANSPORTATION and one half billion dollars, of which nine tenths wassecured by performing transportation services and onetenth from other sources. Gross and Net Earnings, Operating Expenses, FixedCharges and Surplus.—The entire revenue of a railroad com-pany constitutes its gross income. The term gross earningsis sometimes used to include earnings from operation andsometimes, though less accurately, it is held to be the sameas gross income. There are three general classes of ex-penses that must be met by every railroad company. Thefirst and largest of these is operating expenses which mustcover the actual outlay for maintenance of way and struc-tures, maintenance of equipment, conducting transporta-tion, and general or administrative expenses. The nextlargest class of expenses is that of fixed charges coveringthe interest on funded and floating debts, rentals, taxes,and the sinking fund, if any. The third outlay is fordividends to the stockholders, thos
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Keywords: ., bookcentury1900, bookdecade1920, booksubjecttranspo, bookyear1920
