RAILWAY TRANSPORTATION 519 
The total operating revenues of Class I carriers in 1925 amounted 
to $6,120,000,000, 3.4 per cent more than the 1924 total and 91.6 
greater than in 1913-14, but very slightly less than in 1923 (Table 
10). The operating revenues of the southern district increased 8 
per cent over 1924, a decidedly greater ratio than shown by the other 
districts. 
The total operating expenses in 1925 were $4,536,000,000, or about 
$27,900,000 greater than in the preceding year. In the western 
district there was a decrease in operating expenses, and in the eastern 
and southern districts a greater increase appeared in operating 
revenues than in operating expenses. 
The operating ratio in 1925 was reduced to 74.11 per cent from 
76.14 in 1924 and from a maximum of 94.32 per cent for 1920; the 
ratio had been 72.83 in 1913-14. The ratio for the southern dis- 
trict was lower than in 1924 by over 8 points, and for the first 
time since 1918 was less than the ratio for the western district. 
Table 10.—Operating Finances of Class I Railways! by Districts 
{Millions of dollars] 
Operating revenues 
Operating expenses 
Year 2 
912-14 (average)..... 
An EHR Tv 
emer 
NY) ctcaanmen——— oan 
a 
994. je 
O25 or ccacammaae 
Per cent change 
from 1024. 
[912-14 (average). .... 
B18: ne necmmmmmimmen 
1917 me eeecmamn 
“IR emma 
Ie: SR 
01%, mwas 
1 SN 
Per cent change 
from 1924 
Total 
Eastern 
Southern | Western ' 
2,982 
3, 697 
014 
{881 
5,145 
3, 178 
"517 
5, 550 
3, 200 
5, 921 
5 120 
L, 324 
, 622 
1785 
2 207 
2 282 
% 747 
2, 461 
> 517 
& 
151 
523 
306 
85 
306 
377 
877 
1F 
1,207 
1, 452 
1,623 
1, 890 
> 057 | 
2, 454 
9,179 
% 127 
209 
3, 231 
«261 
+1 4 
Ja 
o 
Net railway operating income ? 
719 
{, 040 
934 
339 
i 
Ir 
-fy 
1 
282 
117 
324 
192 
"25 
“tr 
10 
167 
171 
‘39 
328 
'56 
: 
x 
233 
% 
+15 0 
dy 
fd edt 
Total | Eastern | Southern | Western 
817 
915 
1,078 
1,479 
L, 672 
2, 187 
1,740 
i, 646 
1,764 
1,671 
1, 659 
+.7 
Ratio of expenses to revenues (per cent) 
2,112 
2, 357 
2,829 
2,082 
4, 400 
A, 828 
* 563 
elf 
“805 
“0f 
970 
1,102 
I) 338 
1, 892 
), 023 
2.728 
“N83 
c0 
ny 
325 
3¢n 
41” 
=H 
70. 84 
65. 54 
70. 48 
81. 58 
85. 52 
04.3% 
‘2.71 
73.28 
87.97 
74.97 
85.76 
8. 66 
9, 90 
Tt 5 
&i 
72.07 
65.02 
68. 04 
77.76 
87.35 
3.42 
La 
42 
67.70 
63. 01 
66. 46 
78.30 
31. 32 
10.12 
9. 86 
77.38 
6. 39 
74.90 
ag Om 
6s 
bY: 
1 
PP 
: Excluding switching and terminal es . 
gars ended June 30, 1912-1914; others calendar years. CL . . 
® Obtained by deducting from railway operating revenues the following items: Railway Spomng ex- 
benses, railway tax accruals, uneollectible railway revenues. aud net eauipment and ioint facility rents, 
¢ Deficit, 
Source: Interstata Commerce Commission. 
The net railway operating income for 1925, $1,120,000,000, was a 
record figure and 15 per cent greater than in 1924. The increases