Transportation and communication in the United States 1925

Bibliographic data

Monograph

Identifikator:: 1767626746

URN:: urn:nbn:de:zbw-retromon-195828

Document type:: Monograph

Title:: Transportation and communication in the United States 1925

Place of publication:: Washington

Publisher:: Gov. Print. Off.

Year of publication:: 1926

Scope:: III S., S. 508 - 549

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Finances

Collection:: Economics Books

524 COMMERCE. YEARBOOK Foreclosures and Receiverships. The mileage operated by receivers at the end of 1925 totaled 18,039 as compared with 10,487 miles in 1924. According to the compila-~ tions made by the Railway Age the number of roads in receivers’ hands at the close of 1925 was five less than in 1924, numbering 48, Only five companies went into receivership during the year, and over 99 per cent of the mileage involved was that of the Chicago, Milwau- kee & St. Paul, with its 11,007 miles of line. Because of the great extent of the St. Paul there have been but two years since 1876 during which the mileage of roads going into the hands of receivers was greater than in 1925. Foreclosure sales covered 6,151 miles in 1922, 637 in 1923, 3,992 in 1924, and 638 in 1925. The sales in 1925 comprised six companies, Regional Consolidations. Negotiations and plans for consolidation have been under way, although little actual progress toward unification of the carriers into a few large systems has been made. During the 12 months ending October, 1924, 33 out of 34 applications for authorization of one carrier to obtain control of another were granted, while in the same period in 1925 there were 39 applications filed, 26 authorizations issued, and 3 applications withdrawn. The Interstate Commerce Commission expressed doubt as to the wisdom of the provisions of the law requiring the preparation of a complete plan of consolidation. A recommendation was sent to Congress, also, that the law be amended to authorize consolidations ander the supervision of the commission, Hearings were held on the application of the Norfolk & Western to acquire control of the Virginian, among other cases, and the com- mission concluded its hearings on the Van Sweringen so-called Nickel Plate unification plan. The decision in the latter case, in March, 1926, denied the application for control of some 9,000 miles of line under the New York, Chicago & St. Louis Railway Co.; the trans- portation plan was generally approved, but the financial structure was disapproved, considerations, terms, and conditions of proposed acquisition of control not being found just and reasonable. PLANT AND EQUIPMENT New Motive Power and Rolling Stock. A smaller amount of new motive power and rolling stock was put into service in 1925 than in either of the two preceding years, although greater than for several years preceding 1923. The previous large additions to equipment, and the more efficient care and handling of the existing equipment, permitted the smaller purchases to satisfy all needs. Care has been exercised in purchasing to secure the best iy

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