Cost, capitalization and estimated value of American railways; by Thompson Slason 1849-1935

Author:Thompson, Slason, 1849-1935
Language: eng
Format: epub
Tags: Railroads
Publisher: Chicago, Gunthorp-Warren printing company
Published: 1908-03-25T05:00:00+00:00

1880— Passenqeb Coaches— 1905.

but if it had to be replaced today its cost might safely be estimated at the prices given in the following computation:

Number and Cost of Equipment in 1905.

From which it is evident that the cost of equipment as given in the official balance sheet is less than one-third what it should be. The estimated cost of the several items in this table could be reduced to' $10,000; $S,ooo; $800 and $400 respectively and the total cost would still be $2,100,561,800, or nearly 170 per cent, more than the total given by the official statistician.

Unfortunately, it is not permissible to correct the official balance sheet by substituting an estimate, however reasonable, in place of an error, however palpable, or the cost of construction would read as follows:

Digitized by

Google

Cost of road

Cost of equipment.

Total cost of construction.

$11,170,458,581 2,100.561,800

$13,271,020,381

But railway accounts have been so lacking in uniformity and have come through so many vicissitudes and reorganiza-

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