487317 INTERSTATE COMMERCE COMMISSION HUGH M. TATE, CHAIRMAN CLYDE B. AITCHISON JOSEPH B. EASTMAN FRANK MCMANAMY CLAUDE R. PORTER WILLIAM E. LEE CHARLES D. MAHAFFIE CARROLL MILLER WALTER M. W. SPLAWN MARION M. CASKIE GEORGE B. MCGINTY, Secretary. INTERSTATE COMMERCE COMMISSION WASHINGTON, D. C., December 1, 1935. To the Senate and House of Representatives: The Interstate Commerce Commission has the honor to submit herewith its forty-ninth annual report to the Congress. The period covered by this report extends from November 1, 1934, to October 31, 1935, except as otherwise noted. A statement of appropriations and aggregate expenditures for the fiscal year ended June 30, 1935, is contained in appendix H to this report. RAILWAY EARNINGS AND TRAFFIC The operating revenues of the steam railways have in 1935 continued above the lowest level of the depression, but there has been lacking the pronounced improvement which was necessary to absorb the increased level of wages and material cost. However, in the four weeks ending in September of this year, carloadings exceeded by 5.2 percent the corresponding total of 1934; by 2.5 percent that of 1933; and by 14.1 percent that of 1932. If coal and livestock loadings are excluded, the percentages of increase for September are 11.2 percent 1935 over 1934; 6.2 percent 1935 over 1933; and 18.8 percent 1935 over 1932. The trend of traffic and revenues in the freight and passenger services is shown by the following four series of percentages which have been adjusted for seasonal variation. They are based on the period 1923-25 taken as 100. The latest figure in each column, although below the highest figure of 1934 is well above the lowest figure of 1933. Index numbers of traffic and revenues of class I steam railways, seasonally |