Income Account

The NEW YORK CENTRAL RAILROAD COMPANY
 

I94S
 

Earned Surplus Account
 

A)
 

Railway operating revenues;

Frci.,;hl......................................................        5561,361,243         $496,734,880

Tasseiigcr....................................................          136,168,197           133,187,777

Mail........................................................           23,536,655            20,618,542

Express  .....................................................            11,983,561             10.717,836

Other.......................................................           46,791,099            42,081,492

Total (Note G)..................................        $779,860,755         $703,340,527

Railway operating expenses:

Maintenance of way and structures (AWe HJ........................        $110,194,416         $ 96,276.653

Maintenance of equipment (Note I)...............................          158.922.978           145.933.566

TraHic  ......................................................            12.334.617             11.177,010

Transportation................................................          349.151,141           319,631,654

General and other.............................................            .36.7.39,814            33.517,974

Tolal (Xole C)..................................        $667.342,966         $606,536,857

Net revenue from railway operations................................         $112,517,789          $ 96,803,670

Hallway tax accruals:

Federal income taxes .....................................             1,647,016        Cr. 6,072,223

Other taxes  .............................................            52.514.577            58.507,725

Et|uipmeut and joint facility rents - net debit (Note J)...............           21.1.34.605             19,848,607

Net railway operating income......................................        $ 37,221,591     _  $ 24,519,561

Oilier iiicomo (Nolo J):
Dividend income:

AlBlialed companies ......................................             5,223,694              5,473,003

Other companies.........................................              1,392,869              1,219,462

Intere.st income.............................................             5,533,331              5,351,016

Miscellaneous rent income, less expenses .......................             5,735,660              5,788,943

Net profit from separately operated properties....................             2,024,531               1,458,476

Miscellaneons income (net)...................................                168,679                   14,553

Income available for fixed charges..................................         $ 57,300.355          $ 43,825.014

Fixed charges:

Rent for lea.sed roads :md equipment (Note I)....................        5 20,132,441         $ 19,575,066

Interest on funded debt, including amortization of disei)u:il.........            21,454,384            21,192,893

Other interest expense........^..............................                986.434                 750,973

S 42.373.239"        $ 41,518,932"

Net income......................................................        $ 14,727,096        $    2,306,082
 

Balance at January 1, 1948..........................................                                            $263,627,624

\et income h)r the \c:u- 1948, as :d)0\e............................        $  14,727.096

Miseelhmeous rescr\es Inmsfeired IVom :ipproprialcd surplus..........              1,701,055             16.428,151

$282,055,775

Di\ idend ;i]ipn)prialion - $..50 per share  ..........................        $     3,223.697

Sundiv dehils (net)   ...........................................                183,415              3.407,112

Balance at December 31, 1948 ......................................                                            $278,648,663

For notes pteti.se see page 22

21