73

NOTES APPLYING TO TEN-YEAR INCOME ACCOUNT

Note C—Prior ro January 1, 1942, similar items included in profit and loss account.

Note D—Prior to January I, 1943, designated as profit and loss.

Note E—Beginning with the year 1935, rates for depreciation were changed to conform with the composite rates a pproved by the Interstate
Commerce Commission for the New York Central under Docket No. 15,100, which for the year 1948 were: Steam locom otives, 3.39%; Other loco¬
motives, 3.52%; Freight-train cars, 3.20%; Passenger-train cars, 3.03%; Floating eciuipment, 2.73%; Work equipment, 3.60%; and Miscellaneous
equipment, 15.39%.
 

TEN-YEAR PERIOD 1939 TO 1948, INCLUSIVE (Note A)

1942                                1943                                1944                                  1945                                  1946                                  1947                                1948

$174,468,421.11   S201,606,204.74  S2S3,486,928.19   J276,384,152.73   S290,786,934.30   $263,030,739.62   $265,627,623.95
 

$22,717,325.86       $11,646,885.27       $13,052,573.15          $11,686,830.64          J 29,768,439.10          $   2,989,376.02
 

$49,082,182.48        $ 62,734,050.00        $ 35,789,938.93          $ 24,412,525.22                     —                    $   2,306,081.78          $ 14,727,096.12

51,972.14                  _                            _                              _                             _                                         _                         _

15,891.64                  _                            _                              _                             _                                         _                         _

705,063.23                793,558.72                159,858.76               1,677,086.99          $   2,012,244.42               3,280,178.57              2,577,114.79
 

$ 49,855,109.49       $ 63,527,608.72       $ 35,949,797.69         $ 26,089,612.21          $   2,012,244.42         $   5,586,260.35          $ 17,304,210.91
 

—                                —                           —                              —                    $ 10,449,267.67                              —                           —

$   6,447,393.95        $   9,671,090.93        $   9,671,090.93         $   9,671,090.93                    —                                         —          $   3,223,696.98

97,958.38                123,736.14                 26,904.09                   45,521.51                  131,515.21          $      914,255.15                  141,415.34

3,532.832.69                  _                           _                              _                              _                                         _                           _

—                             279,615.33       Cr.   279,615.33                    —                              —                                         —                           —
12,639,140.84             1,572,442.87              3,634,193.46               1,970,218.20             19,187,656.22               2,075,120.87                  918,059.11
 

$201,606,204.74        $253,486,928.19        $276,384,152.73         $290,786,934.30         $263,030,739.62         $265,627,623.95          $278,648,663.43
 

Note E—The years 1939 to 1941 inclusive, represent ledger value, less net salvage recovered, of roadway property not required for trans¬
portation service retired. For the year 1942, charges represent loss on retirements of other than owned depreciable roadway property. Effective
in 1943, retirements of all depreciable roadway property {owned and used) were charged against depreciation reserve, and nondepreciable property
to operating expenses.

Note F—The year 1941 includes loss of $26,842,642.94 representing difference between this Company's investments in The Securities Cor¬
poration of the New York Central Railroad and the estimated market value ol the assets taken over; $2,526,075.42 previously carried as invest¬
ment advances to the Boston and Albany Railroad Company, representing the net of accrued depreciation from date of lease to June 30,1927, on
certain fixed property of the Boston and Albany Railroad; $1,079,828.77 loss on the sale of 12,720H shares of Rutland Railroad Company
preferred stock. The year 1942 includes difference between appraised value of leased equipment retired from January 1, 1935, to December 31,
1940, and depreciation accrued thereon: Michigan Central Railroad $3,963,700.68 and Cleveland, Cincinnati, Chicago and St. Louis Railway
$7,449,699.34. The year 1946 includes $18,000,000.00 and the year 1947 includes $1,645,063.00 prior service accrual—Funded Contributory
Retirement Plan.