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nnua epoftmiddot 10
Panoramic view of the east apshyproach to the Milwaukee Roads new freight car repair facility in the Bensenville III yards showshying the shop building service tracks and counterweight towers
Closeup of one of the inbound car pullers which by means of a cable draws freight cars into the encloseq repair area
Inside view of the shop buildshying Clear plastic panels in the roof and walls of the building admit maximum natural light infra-red ray heaters above the work areas provide comfort in winter weather
Ii
Outbound facilities west of the shop include the components of the small car pu Ilers At rig ht is the modern office and welfare building
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY General Offices-516 W Jackson Boulevard Chicago 6 Illinois
Terms Expiring 1961 1962 1963
E AINSWORTH EYRE ARTHUR S BOWES JOHN D ALLEN ] PATRICK LANNAN JEROME C EpPLER JAMES M BARKER JAMES D NORRIS JOHN B GALLAGHER LEO T CROWLEY WILLIAM 1 OBRIEN JOSHUA GREEN WALTER] CUMMINGS PHILIP W PILLSBURY ARNOLD B KELLER WILLIAM] FROELICH FRANKLIN B SCHMICK WALTER T MAHONEY WILLIAM] QUINN JOHN P WAGNER LOUIS QUARLES ARTHUR M WIRTZ
WILLIAM] SINEK
] PATRICK LANNAN Chairman JOHN D ALLEN WILLIAM] FROELICH WILLIAM] QUINN LEO T CROWLEY JOHN B GALLAGHER WILLIAM] SINEK WALTER] CUMMINGS ARTHUR M WIRTZ
WALTER] CUMMINGS Chairman JOHN D ALLEN JEROME C EpPLER ] PATRICK LANNAN JAMES M BARKER WILLIAM] FROELICH LOUIS QUARLES LEO T CROWLEY JOHN B GALLAGHER JOHN P WAGNER
ARNOLD B KELLER ARTHUR M WIRTZAlternate Members
1 T CROWLEY Chairman of the Board CHICAGO W] QUINN President CHICAGO W W KREMER Vice President-Traffic CHICAGO E R ECKERSALL Vice President and General Counsel CHICAGO F G MCGINN P H DRAVER
Vice President-Operation Vice President-Industrial Development
CHICAGO CHICAGO
R S STEPHENSON Vice President-Finance and Accounting CHICAGO 1 H DUGAN Vice President and Western Counsel SEATTLE E O SCHIEWE General Solicitor CHICAGO R F KRATOCHWILL J] ROCHE C T LANNON
Comptroller Secretary Treasurer
CHICAGO CHICAGO CHICAGO
The Chase Manhattan Bank New York 15 NY The First National City Bank of New York Room 732 Union Station Chicago 6 Ill New York 15 NY
Continental Illinois National Bank and Trust Company of Chicago Chicago 90 Ill
May 9 1961 Chicago Illinois
This Annual Report is not and must not be considered as proxy soliciting material or as a report or document filed pursuant to the Securities Exchange Act or any rule or regulation thereunder
1960 1959
Operating revenues $230362902 Operating expenses 187929803 Taxes Federal State and Local 20137000 Net railway operating income 9654308 Other income-Net 3588037 Income available for fixed charges 13242345 Fixed charges 5677502 Contingent charges 6241780
$242041825 198851581 19415000 13651274 4047361
17698635 5471962 6351497
Net income Net income per share-Series A Preferred
-Common Times fixed charges earned
$
1323063 255
o 233
$ 5875176 1133
155 323
Dividends paid Series A Preferred-$500 per share Common-$150 per share
Total dividends paid Number of stockholders as December 31
Series A Preferred Common
Out of earnings of the prior year
$
2593260 3184872 5778132
5015 10649
$ 2593260 3184871 5778131
5089 9902
Gross capital expenditures For road property improvements For equipment
Total
$
6123291 13966899 20090190
$ 5940814 21733124 27673938
Traffic statistics Net ton-miles of revenue freight (thousands) 13605766 Freight revenue $189560907 Passengers carried one mile 627831562 Passenger revenue $ 15174969
14123258 $201536333 648200824
$ 15282171
Total amount of payroll $121135807 Average number of employees 20229
$128399667 22243
Gross ton miles per train-hour Gross tons per train Net ton-miles per train-hour Net tons per train
(Indices of freight-train performance)
66674 3305
29255 1450
64565 3228
28570 1428
2
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shy -I -~tmiddot - I ~i ~ I III t I I II 111 11 I I I
-shy
In the face of a general recession which sharply reduced railroad revenues in 1960 the Milwaukee Road successfully effected a balshyanced reduction in expenses and built securely on a strong foundation for the future Improveshyments were introduced to provide the public with the best in service and the property was maintained in condition to take full advantage of the business upturn anticipated for 1961
The general reduction in railroad carloadings as business slowed intensified the problem of underutilization of plant and equipment
The actual extent of the decline in earnings and revenues came as a disappointment The reduction in earnings was due entirely to lower revenues which amounted to $230362902 compared with $242041825 in 1959 a reducshytion of $11678923 Through rigid economies operating expenses were likewise reduced by $10921778 from the 1959 level It was not possible however to completely offset the efshyfect of the decline in revenues with the result that net income in 1960 amounted to $1323063 compared with $5875176 in 1959
On February 23 1961 the Board of Direcshyrors declared a dividend out of the 1960 earnshyings or out of the accumulated earned surplus of the Corporation for prior calendar years of $500 per share on the Series A preferred stock payable in four installments of $125 per share each on March 30 June 29 September 28 and November 30 in 1961 to holders of record at the close of business March 10 June 9 Sepshytember 8 and November 10 1961 respectively
Declaration of a dividend on the Common Stock has been deferred until a better appraisal can be made of future business conditions both generally and in the railroad industry
The outlook for 1961 is more favorable There is already indication that housing starts will be up to some extent and we can reasonshyably expect some improvement in the moveshyments of lumber and other forest products In this freight category which is of major imshyportance to the Milwaukee Road our 1960 revenues were down 162 from 1959
3
Other unfavorable factors in 1960 were the slump in the iron and steel industry resulting in decreased revenues from the smaller traffic in many manufactured products and the disshyappointing showing of the grain movement The latter situation developed despite a good grain crop in Milwaukee Road territory beshycause of a decline in government grain releases particularly in the last months of the year
Improvement in any of these three major freight categories could result in a welcome upturn in 1961 A very substantial volume of small grains and corn remains in farm and country elevator storage on the Milwaukee Road for eventual movement to market The Milwaukee Road is in a strong position to take advantage of the better business conditions now generally predicted for the months ahead The improvement program of the last several years has modernized plant and equipment We have the tools to render improved service to shippers and to meet competition
Another noteworthy feature has been the aggressiveness of the campaign to develop new freight traffic and win back business from comshypeting forms of transport Many of these acshytivities should make themselves felt in still greater measure during 1961
For example the Milwaukee Road has moved ahead in providing rail-truck delivery by a single carrier to remote heavy construction sites such as power and irrigation dams and other government projects We are actively seekshying business of this kind and it should add appreciably to revenues in the next year or two
Transport of automobiles is another example of Milwaukee leadership in winning traffic to the rails As a consequence revenues from auto shipments were up $2760468 in 1960 These and other developments of the year illustrate the alertness with which new facilities equipshyment and services are being employed to build business This creative approach to railroading will be decisive as the economy turns up again to insure that the Milwaukee Road takes full advantage of new opportunities
Joint merger studies with the Rock Island Lines begun in 1959 were continued and inshytensmed in 1960 Toward the end of the year however it became evident that effecting a merger of the two systems would be a timeshyconsuming project in the face of the unforeseen obstacles that had been encountered
Since then merger discussions have been initiated between the managements of the Milshywaukee Road and the Chicago and North Westshyern Railway As of the date of this report the roads have not yet reached an agreement
Railroads continue to form the backbone of the common carrier system Their ability to move large tonnages of raw materials and manshyufactured goods at low cost on equal terms to all shippers is a necessity if we are to keep this continent one great mass market
In light of these facts there is urgent need
to review public transportation policy We must face the reality that no form of transport today has anything like a monopoly and regulations based on conditions of half a century ago are dangerously out of date Instead of artificial restrictions transportation companies should be given every encouragement to use the most modern devices and equipment for moving goods and people by whatever combination of methods is efficient
Nothing could be more important to the future of the Milwaukee Road or any other common carrier than a basic understanding by shippers and the public of the urgency of these problems It is time to clear away the misconshyceptions and outmoded regulations that bar the way to progress so that we may enter upon a new era of transportation efficiency and profitshyability
Chairman of the Board
By order of the Board of Directors March 16 1961
4
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
Panoramic view of the east apshyproach to the Milwaukee Roads new freight car repair facility in the Bensenville III yards showshying the shop building service tracks and counterweight towers
Closeup of one of the inbound car pullers which by means of a cable draws freight cars into the encloseq repair area
Inside view of the shop buildshying Clear plastic panels in the roof and walls of the building admit maximum natural light infra-red ray heaters above the work areas provide comfort in winter weather
Ii
Outbound facilities west of the shop include the components of the small car pu Ilers At rig ht is the modern office and welfare building
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY General Offices-516 W Jackson Boulevard Chicago 6 Illinois
Terms Expiring 1961 1962 1963
E AINSWORTH EYRE ARTHUR S BOWES JOHN D ALLEN ] PATRICK LANNAN JEROME C EpPLER JAMES M BARKER JAMES D NORRIS JOHN B GALLAGHER LEO T CROWLEY WILLIAM 1 OBRIEN JOSHUA GREEN WALTER] CUMMINGS PHILIP W PILLSBURY ARNOLD B KELLER WILLIAM] FROELICH FRANKLIN B SCHMICK WALTER T MAHONEY WILLIAM] QUINN JOHN P WAGNER LOUIS QUARLES ARTHUR M WIRTZ
WILLIAM] SINEK
] PATRICK LANNAN Chairman JOHN D ALLEN WILLIAM] FROELICH WILLIAM] QUINN LEO T CROWLEY JOHN B GALLAGHER WILLIAM] SINEK WALTER] CUMMINGS ARTHUR M WIRTZ
WALTER] CUMMINGS Chairman JOHN D ALLEN JEROME C EpPLER ] PATRICK LANNAN JAMES M BARKER WILLIAM] FROELICH LOUIS QUARLES LEO T CROWLEY JOHN B GALLAGHER JOHN P WAGNER
ARNOLD B KELLER ARTHUR M WIRTZAlternate Members
1 T CROWLEY Chairman of the Board CHICAGO W] QUINN President CHICAGO W W KREMER Vice President-Traffic CHICAGO E R ECKERSALL Vice President and General Counsel CHICAGO F G MCGINN P H DRAVER
Vice President-Operation Vice President-Industrial Development
CHICAGO CHICAGO
R S STEPHENSON Vice President-Finance and Accounting CHICAGO 1 H DUGAN Vice President and Western Counsel SEATTLE E O SCHIEWE General Solicitor CHICAGO R F KRATOCHWILL J] ROCHE C T LANNON
Comptroller Secretary Treasurer
CHICAGO CHICAGO CHICAGO
The Chase Manhattan Bank New York 15 NY The First National City Bank of New York Room 732 Union Station Chicago 6 Ill New York 15 NY
Continental Illinois National Bank and Trust Company of Chicago Chicago 90 Ill
May 9 1961 Chicago Illinois
This Annual Report is not and must not be considered as proxy soliciting material or as a report or document filed pursuant to the Securities Exchange Act or any rule or regulation thereunder
1960 1959
Operating revenues $230362902 Operating expenses 187929803 Taxes Federal State and Local 20137000 Net railway operating income 9654308 Other income-Net 3588037 Income available for fixed charges 13242345 Fixed charges 5677502 Contingent charges 6241780
$242041825 198851581 19415000 13651274 4047361
17698635 5471962 6351497
Net income Net income per share-Series A Preferred
-Common Times fixed charges earned
$
1323063 255
o 233
$ 5875176 1133
155 323
Dividends paid Series A Preferred-$500 per share Common-$150 per share
Total dividends paid Number of stockholders as December 31
Series A Preferred Common
Out of earnings of the prior year
$
2593260 3184872 5778132
5015 10649
$ 2593260 3184871 5778131
5089 9902
Gross capital expenditures For road property improvements For equipment
Total
$
6123291 13966899 20090190
$ 5940814 21733124 27673938
Traffic statistics Net ton-miles of revenue freight (thousands) 13605766 Freight revenue $189560907 Passengers carried one mile 627831562 Passenger revenue $ 15174969
14123258 $201536333 648200824
$ 15282171
Total amount of payroll $121135807 Average number of employees 20229
$128399667 22243
Gross ton miles per train-hour Gross tons per train Net ton-miles per train-hour Net tons per train
(Indices of freight-train performance)
66674 3305
29255 1450
64565 3228
28570 1428
2
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shy -I -~tmiddot - I ~i ~ I III t I I II 111 11 I I I
-shy
In the face of a general recession which sharply reduced railroad revenues in 1960 the Milwaukee Road successfully effected a balshyanced reduction in expenses and built securely on a strong foundation for the future Improveshyments were introduced to provide the public with the best in service and the property was maintained in condition to take full advantage of the business upturn anticipated for 1961
The general reduction in railroad carloadings as business slowed intensified the problem of underutilization of plant and equipment
The actual extent of the decline in earnings and revenues came as a disappointment The reduction in earnings was due entirely to lower revenues which amounted to $230362902 compared with $242041825 in 1959 a reducshytion of $11678923 Through rigid economies operating expenses were likewise reduced by $10921778 from the 1959 level It was not possible however to completely offset the efshyfect of the decline in revenues with the result that net income in 1960 amounted to $1323063 compared with $5875176 in 1959
On February 23 1961 the Board of Direcshyrors declared a dividend out of the 1960 earnshyings or out of the accumulated earned surplus of the Corporation for prior calendar years of $500 per share on the Series A preferred stock payable in four installments of $125 per share each on March 30 June 29 September 28 and November 30 in 1961 to holders of record at the close of business March 10 June 9 Sepshytember 8 and November 10 1961 respectively
Declaration of a dividend on the Common Stock has been deferred until a better appraisal can be made of future business conditions both generally and in the railroad industry
The outlook for 1961 is more favorable There is already indication that housing starts will be up to some extent and we can reasonshyably expect some improvement in the moveshyments of lumber and other forest products In this freight category which is of major imshyportance to the Milwaukee Road our 1960 revenues were down 162 from 1959
3
Other unfavorable factors in 1960 were the slump in the iron and steel industry resulting in decreased revenues from the smaller traffic in many manufactured products and the disshyappointing showing of the grain movement The latter situation developed despite a good grain crop in Milwaukee Road territory beshycause of a decline in government grain releases particularly in the last months of the year
Improvement in any of these three major freight categories could result in a welcome upturn in 1961 A very substantial volume of small grains and corn remains in farm and country elevator storage on the Milwaukee Road for eventual movement to market The Milwaukee Road is in a strong position to take advantage of the better business conditions now generally predicted for the months ahead The improvement program of the last several years has modernized plant and equipment We have the tools to render improved service to shippers and to meet competition
Another noteworthy feature has been the aggressiveness of the campaign to develop new freight traffic and win back business from comshypeting forms of transport Many of these acshytivities should make themselves felt in still greater measure during 1961
For example the Milwaukee Road has moved ahead in providing rail-truck delivery by a single carrier to remote heavy construction sites such as power and irrigation dams and other government projects We are actively seekshying business of this kind and it should add appreciably to revenues in the next year or two
Transport of automobiles is another example of Milwaukee leadership in winning traffic to the rails As a consequence revenues from auto shipments were up $2760468 in 1960 These and other developments of the year illustrate the alertness with which new facilities equipshyment and services are being employed to build business This creative approach to railroading will be decisive as the economy turns up again to insure that the Milwaukee Road takes full advantage of new opportunities
Joint merger studies with the Rock Island Lines begun in 1959 were continued and inshytensmed in 1960 Toward the end of the year however it became evident that effecting a merger of the two systems would be a timeshyconsuming project in the face of the unforeseen obstacles that had been encountered
Since then merger discussions have been initiated between the managements of the Milshywaukee Road and the Chicago and North Westshyern Railway As of the date of this report the roads have not yet reached an agreement
Railroads continue to form the backbone of the common carrier system Their ability to move large tonnages of raw materials and manshyufactured goods at low cost on equal terms to all shippers is a necessity if we are to keep this continent one great mass market
In light of these facts there is urgent need
to review public transportation policy We must face the reality that no form of transport today has anything like a monopoly and regulations based on conditions of half a century ago are dangerously out of date Instead of artificial restrictions transportation companies should be given every encouragement to use the most modern devices and equipment for moving goods and people by whatever combination of methods is efficient
Nothing could be more important to the future of the Milwaukee Road or any other common carrier than a basic understanding by shippers and the public of the urgency of these problems It is time to clear away the misconshyceptions and outmoded regulations that bar the way to progress so that we may enter upon a new era of transportation efficiency and profitshyability
Chairman of the Board
By order of the Board of Directors March 16 1961
4
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY General Offices-516 W Jackson Boulevard Chicago 6 Illinois
Terms Expiring 1961 1962 1963
E AINSWORTH EYRE ARTHUR S BOWES JOHN D ALLEN ] PATRICK LANNAN JEROME C EpPLER JAMES M BARKER JAMES D NORRIS JOHN B GALLAGHER LEO T CROWLEY WILLIAM 1 OBRIEN JOSHUA GREEN WALTER] CUMMINGS PHILIP W PILLSBURY ARNOLD B KELLER WILLIAM] FROELICH FRANKLIN B SCHMICK WALTER T MAHONEY WILLIAM] QUINN JOHN P WAGNER LOUIS QUARLES ARTHUR M WIRTZ
WILLIAM] SINEK
] PATRICK LANNAN Chairman JOHN D ALLEN WILLIAM] FROELICH WILLIAM] QUINN LEO T CROWLEY JOHN B GALLAGHER WILLIAM] SINEK WALTER] CUMMINGS ARTHUR M WIRTZ
WALTER] CUMMINGS Chairman JOHN D ALLEN JEROME C EpPLER ] PATRICK LANNAN JAMES M BARKER WILLIAM] FROELICH LOUIS QUARLES LEO T CROWLEY JOHN B GALLAGHER JOHN P WAGNER
ARNOLD B KELLER ARTHUR M WIRTZAlternate Members
1 T CROWLEY Chairman of the Board CHICAGO W] QUINN President CHICAGO W W KREMER Vice President-Traffic CHICAGO E R ECKERSALL Vice President and General Counsel CHICAGO F G MCGINN P H DRAVER
Vice President-Operation Vice President-Industrial Development
CHICAGO CHICAGO
R S STEPHENSON Vice President-Finance and Accounting CHICAGO 1 H DUGAN Vice President and Western Counsel SEATTLE E O SCHIEWE General Solicitor CHICAGO R F KRATOCHWILL J] ROCHE C T LANNON
Comptroller Secretary Treasurer
CHICAGO CHICAGO CHICAGO
The Chase Manhattan Bank New York 15 NY The First National City Bank of New York Room 732 Union Station Chicago 6 Ill New York 15 NY
Continental Illinois National Bank and Trust Company of Chicago Chicago 90 Ill
May 9 1961 Chicago Illinois
This Annual Report is not and must not be considered as proxy soliciting material or as a report or document filed pursuant to the Securities Exchange Act or any rule or regulation thereunder
1960 1959
Operating revenues $230362902 Operating expenses 187929803 Taxes Federal State and Local 20137000 Net railway operating income 9654308 Other income-Net 3588037 Income available for fixed charges 13242345 Fixed charges 5677502 Contingent charges 6241780
$242041825 198851581 19415000 13651274 4047361
17698635 5471962 6351497
Net income Net income per share-Series A Preferred
-Common Times fixed charges earned
$
1323063 255
o 233
$ 5875176 1133
155 323
Dividends paid Series A Preferred-$500 per share Common-$150 per share
Total dividends paid Number of stockholders as December 31
Series A Preferred Common
Out of earnings of the prior year
$
2593260 3184872 5778132
5015 10649
$ 2593260 3184871 5778131
5089 9902
Gross capital expenditures For road property improvements For equipment
Total
$
6123291 13966899 20090190
$ 5940814 21733124 27673938
Traffic statistics Net ton-miles of revenue freight (thousands) 13605766 Freight revenue $189560907 Passengers carried one mile 627831562 Passenger revenue $ 15174969
14123258 $201536333 648200824
$ 15282171
Total amount of payroll $121135807 Average number of employees 20229
$128399667 22243
Gross ton miles per train-hour Gross tons per train Net ton-miles per train-hour Net tons per train
(Indices of freight-train performance)
66674 3305
29255 1450
64565 3228
28570 1428
2
-
shy -I -~tmiddot - I ~i ~ I III t I I II 111 11 I I I
-shy
In the face of a general recession which sharply reduced railroad revenues in 1960 the Milwaukee Road successfully effected a balshyanced reduction in expenses and built securely on a strong foundation for the future Improveshyments were introduced to provide the public with the best in service and the property was maintained in condition to take full advantage of the business upturn anticipated for 1961
The general reduction in railroad carloadings as business slowed intensified the problem of underutilization of plant and equipment
The actual extent of the decline in earnings and revenues came as a disappointment The reduction in earnings was due entirely to lower revenues which amounted to $230362902 compared with $242041825 in 1959 a reducshytion of $11678923 Through rigid economies operating expenses were likewise reduced by $10921778 from the 1959 level It was not possible however to completely offset the efshyfect of the decline in revenues with the result that net income in 1960 amounted to $1323063 compared with $5875176 in 1959
On February 23 1961 the Board of Direcshyrors declared a dividend out of the 1960 earnshyings or out of the accumulated earned surplus of the Corporation for prior calendar years of $500 per share on the Series A preferred stock payable in four installments of $125 per share each on March 30 June 29 September 28 and November 30 in 1961 to holders of record at the close of business March 10 June 9 Sepshytember 8 and November 10 1961 respectively
Declaration of a dividend on the Common Stock has been deferred until a better appraisal can be made of future business conditions both generally and in the railroad industry
The outlook for 1961 is more favorable There is already indication that housing starts will be up to some extent and we can reasonshyably expect some improvement in the moveshyments of lumber and other forest products In this freight category which is of major imshyportance to the Milwaukee Road our 1960 revenues were down 162 from 1959
3
Other unfavorable factors in 1960 were the slump in the iron and steel industry resulting in decreased revenues from the smaller traffic in many manufactured products and the disshyappointing showing of the grain movement The latter situation developed despite a good grain crop in Milwaukee Road territory beshycause of a decline in government grain releases particularly in the last months of the year
Improvement in any of these three major freight categories could result in a welcome upturn in 1961 A very substantial volume of small grains and corn remains in farm and country elevator storage on the Milwaukee Road for eventual movement to market The Milwaukee Road is in a strong position to take advantage of the better business conditions now generally predicted for the months ahead The improvement program of the last several years has modernized plant and equipment We have the tools to render improved service to shippers and to meet competition
Another noteworthy feature has been the aggressiveness of the campaign to develop new freight traffic and win back business from comshypeting forms of transport Many of these acshytivities should make themselves felt in still greater measure during 1961
For example the Milwaukee Road has moved ahead in providing rail-truck delivery by a single carrier to remote heavy construction sites such as power and irrigation dams and other government projects We are actively seekshying business of this kind and it should add appreciably to revenues in the next year or two
Transport of automobiles is another example of Milwaukee leadership in winning traffic to the rails As a consequence revenues from auto shipments were up $2760468 in 1960 These and other developments of the year illustrate the alertness with which new facilities equipshyment and services are being employed to build business This creative approach to railroading will be decisive as the economy turns up again to insure that the Milwaukee Road takes full advantage of new opportunities
Joint merger studies with the Rock Island Lines begun in 1959 were continued and inshytensmed in 1960 Toward the end of the year however it became evident that effecting a merger of the two systems would be a timeshyconsuming project in the face of the unforeseen obstacles that had been encountered
Since then merger discussions have been initiated between the managements of the Milshywaukee Road and the Chicago and North Westshyern Railway As of the date of this report the roads have not yet reached an agreement
Railroads continue to form the backbone of the common carrier system Their ability to move large tonnages of raw materials and manshyufactured goods at low cost on equal terms to all shippers is a necessity if we are to keep this continent one great mass market
In light of these facts there is urgent need
to review public transportation policy We must face the reality that no form of transport today has anything like a monopoly and regulations based on conditions of half a century ago are dangerously out of date Instead of artificial restrictions transportation companies should be given every encouragement to use the most modern devices and equipment for moving goods and people by whatever combination of methods is efficient
Nothing could be more important to the future of the Milwaukee Road or any other common carrier than a basic understanding by shippers and the public of the urgency of these problems It is time to clear away the misconshyceptions and outmoded regulations that bar the way to progress so that we may enter upon a new era of transportation efficiency and profitshyability
Chairman of the Board
By order of the Board of Directors March 16 1961
4
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
1960 1959
Operating revenues $230362902 Operating expenses 187929803 Taxes Federal State and Local 20137000 Net railway operating income 9654308 Other income-Net 3588037 Income available for fixed charges 13242345 Fixed charges 5677502 Contingent charges 6241780
$242041825 198851581 19415000 13651274 4047361
17698635 5471962 6351497
Net income Net income per share-Series A Preferred
-Common Times fixed charges earned
$
1323063 255
o 233
$ 5875176 1133
155 323
Dividends paid Series A Preferred-$500 per share Common-$150 per share
Total dividends paid Number of stockholders as December 31
Series A Preferred Common
Out of earnings of the prior year
$
2593260 3184872 5778132
5015 10649
$ 2593260 3184871 5778131
5089 9902
Gross capital expenditures For road property improvements For equipment
Total
$
6123291 13966899 20090190
$ 5940814 21733124 27673938
Traffic statistics Net ton-miles of revenue freight (thousands) 13605766 Freight revenue $189560907 Passengers carried one mile 627831562 Passenger revenue $ 15174969
14123258 $201536333 648200824
$ 15282171
Total amount of payroll $121135807 Average number of employees 20229
$128399667 22243
Gross ton miles per train-hour Gross tons per train Net ton-miles per train-hour Net tons per train
(Indices of freight-train performance)
66674 3305
29255 1450
64565 3228
28570 1428
2
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shy -I -~tmiddot - I ~i ~ I III t I I II 111 11 I I I
-shy
In the face of a general recession which sharply reduced railroad revenues in 1960 the Milwaukee Road successfully effected a balshyanced reduction in expenses and built securely on a strong foundation for the future Improveshyments were introduced to provide the public with the best in service and the property was maintained in condition to take full advantage of the business upturn anticipated for 1961
The general reduction in railroad carloadings as business slowed intensified the problem of underutilization of plant and equipment
The actual extent of the decline in earnings and revenues came as a disappointment The reduction in earnings was due entirely to lower revenues which amounted to $230362902 compared with $242041825 in 1959 a reducshytion of $11678923 Through rigid economies operating expenses were likewise reduced by $10921778 from the 1959 level It was not possible however to completely offset the efshyfect of the decline in revenues with the result that net income in 1960 amounted to $1323063 compared with $5875176 in 1959
On February 23 1961 the Board of Direcshyrors declared a dividend out of the 1960 earnshyings or out of the accumulated earned surplus of the Corporation for prior calendar years of $500 per share on the Series A preferred stock payable in four installments of $125 per share each on March 30 June 29 September 28 and November 30 in 1961 to holders of record at the close of business March 10 June 9 Sepshytember 8 and November 10 1961 respectively
Declaration of a dividend on the Common Stock has been deferred until a better appraisal can be made of future business conditions both generally and in the railroad industry
The outlook for 1961 is more favorable There is already indication that housing starts will be up to some extent and we can reasonshyably expect some improvement in the moveshyments of lumber and other forest products In this freight category which is of major imshyportance to the Milwaukee Road our 1960 revenues were down 162 from 1959
3
Other unfavorable factors in 1960 were the slump in the iron and steel industry resulting in decreased revenues from the smaller traffic in many manufactured products and the disshyappointing showing of the grain movement The latter situation developed despite a good grain crop in Milwaukee Road territory beshycause of a decline in government grain releases particularly in the last months of the year
Improvement in any of these three major freight categories could result in a welcome upturn in 1961 A very substantial volume of small grains and corn remains in farm and country elevator storage on the Milwaukee Road for eventual movement to market The Milwaukee Road is in a strong position to take advantage of the better business conditions now generally predicted for the months ahead The improvement program of the last several years has modernized plant and equipment We have the tools to render improved service to shippers and to meet competition
Another noteworthy feature has been the aggressiveness of the campaign to develop new freight traffic and win back business from comshypeting forms of transport Many of these acshytivities should make themselves felt in still greater measure during 1961
For example the Milwaukee Road has moved ahead in providing rail-truck delivery by a single carrier to remote heavy construction sites such as power and irrigation dams and other government projects We are actively seekshying business of this kind and it should add appreciably to revenues in the next year or two
Transport of automobiles is another example of Milwaukee leadership in winning traffic to the rails As a consequence revenues from auto shipments were up $2760468 in 1960 These and other developments of the year illustrate the alertness with which new facilities equipshyment and services are being employed to build business This creative approach to railroading will be decisive as the economy turns up again to insure that the Milwaukee Road takes full advantage of new opportunities
Joint merger studies with the Rock Island Lines begun in 1959 were continued and inshytensmed in 1960 Toward the end of the year however it became evident that effecting a merger of the two systems would be a timeshyconsuming project in the face of the unforeseen obstacles that had been encountered
Since then merger discussions have been initiated between the managements of the Milshywaukee Road and the Chicago and North Westshyern Railway As of the date of this report the roads have not yet reached an agreement
Railroads continue to form the backbone of the common carrier system Their ability to move large tonnages of raw materials and manshyufactured goods at low cost on equal terms to all shippers is a necessity if we are to keep this continent one great mass market
In light of these facts there is urgent need
to review public transportation policy We must face the reality that no form of transport today has anything like a monopoly and regulations based on conditions of half a century ago are dangerously out of date Instead of artificial restrictions transportation companies should be given every encouragement to use the most modern devices and equipment for moving goods and people by whatever combination of methods is efficient
Nothing could be more important to the future of the Milwaukee Road or any other common carrier than a basic understanding by shippers and the public of the urgency of these problems It is time to clear away the misconshyceptions and outmoded regulations that bar the way to progress so that we may enter upon a new era of transportation efficiency and profitshyability
Chairman of the Board
By order of the Board of Directors March 16 1961
4
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
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oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
In the face of a general recession which sharply reduced railroad revenues in 1960 the Milwaukee Road successfully effected a balshyanced reduction in expenses and built securely on a strong foundation for the future Improveshyments were introduced to provide the public with the best in service and the property was maintained in condition to take full advantage of the business upturn anticipated for 1961
The general reduction in railroad carloadings as business slowed intensified the problem of underutilization of plant and equipment
The actual extent of the decline in earnings and revenues came as a disappointment The reduction in earnings was due entirely to lower revenues which amounted to $230362902 compared with $242041825 in 1959 a reducshytion of $11678923 Through rigid economies operating expenses were likewise reduced by $10921778 from the 1959 level It was not possible however to completely offset the efshyfect of the decline in revenues with the result that net income in 1960 amounted to $1323063 compared with $5875176 in 1959
On February 23 1961 the Board of Direcshyrors declared a dividend out of the 1960 earnshyings or out of the accumulated earned surplus of the Corporation for prior calendar years of $500 per share on the Series A preferred stock payable in four installments of $125 per share each on March 30 June 29 September 28 and November 30 in 1961 to holders of record at the close of business March 10 June 9 Sepshytember 8 and November 10 1961 respectively
Declaration of a dividend on the Common Stock has been deferred until a better appraisal can be made of future business conditions both generally and in the railroad industry
The outlook for 1961 is more favorable There is already indication that housing starts will be up to some extent and we can reasonshyably expect some improvement in the moveshyments of lumber and other forest products In this freight category which is of major imshyportance to the Milwaukee Road our 1960 revenues were down 162 from 1959
3
Other unfavorable factors in 1960 were the slump in the iron and steel industry resulting in decreased revenues from the smaller traffic in many manufactured products and the disshyappointing showing of the grain movement The latter situation developed despite a good grain crop in Milwaukee Road territory beshycause of a decline in government grain releases particularly in the last months of the year
Improvement in any of these three major freight categories could result in a welcome upturn in 1961 A very substantial volume of small grains and corn remains in farm and country elevator storage on the Milwaukee Road for eventual movement to market The Milwaukee Road is in a strong position to take advantage of the better business conditions now generally predicted for the months ahead The improvement program of the last several years has modernized plant and equipment We have the tools to render improved service to shippers and to meet competition
Another noteworthy feature has been the aggressiveness of the campaign to develop new freight traffic and win back business from comshypeting forms of transport Many of these acshytivities should make themselves felt in still greater measure during 1961
For example the Milwaukee Road has moved ahead in providing rail-truck delivery by a single carrier to remote heavy construction sites such as power and irrigation dams and other government projects We are actively seekshying business of this kind and it should add appreciably to revenues in the next year or two
Transport of automobiles is another example of Milwaukee leadership in winning traffic to the rails As a consequence revenues from auto shipments were up $2760468 in 1960 These and other developments of the year illustrate the alertness with which new facilities equipshyment and services are being employed to build business This creative approach to railroading will be decisive as the economy turns up again to insure that the Milwaukee Road takes full advantage of new opportunities
Joint merger studies with the Rock Island Lines begun in 1959 were continued and inshytensmed in 1960 Toward the end of the year however it became evident that effecting a merger of the two systems would be a timeshyconsuming project in the face of the unforeseen obstacles that had been encountered
Since then merger discussions have been initiated between the managements of the Milshywaukee Road and the Chicago and North Westshyern Railway As of the date of this report the roads have not yet reached an agreement
Railroads continue to form the backbone of the common carrier system Their ability to move large tonnages of raw materials and manshyufactured goods at low cost on equal terms to all shippers is a necessity if we are to keep this continent one great mass market
In light of these facts there is urgent need
to review public transportation policy We must face the reality that no form of transport today has anything like a monopoly and regulations based on conditions of half a century ago are dangerously out of date Instead of artificial restrictions transportation companies should be given every encouragement to use the most modern devices and equipment for moving goods and people by whatever combination of methods is efficient
Nothing could be more important to the future of the Milwaukee Road or any other common carrier than a basic understanding by shippers and the public of the urgency of these problems It is time to clear away the misconshyceptions and outmoded regulations that bar the way to progress so that we may enter upon a new era of transportation efficiency and profitshyability
Chairman of the Board
By order of the Board of Directors March 16 1961
4
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
Joint merger studies with the Rock Island Lines begun in 1959 were continued and inshytensmed in 1960 Toward the end of the year however it became evident that effecting a merger of the two systems would be a timeshyconsuming project in the face of the unforeseen obstacles that had been encountered
Since then merger discussions have been initiated between the managements of the Milshywaukee Road and the Chicago and North Westshyern Railway As of the date of this report the roads have not yet reached an agreement
Railroads continue to form the backbone of the common carrier system Their ability to move large tonnages of raw materials and manshyufactured goods at low cost on equal terms to all shippers is a necessity if we are to keep this continent one great mass market
In light of these facts there is urgent need
to review public transportation policy We must face the reality that no form of transport today has anything like a monopoly and regulations based on conditions of half a century ago are dangerously out of date Instead of artificial restrictions transportation companies should be given every encouragement to use the most modern devices and equipment for moving goods and people by whatever combination of methods is efficient
Nothing could be more important to the future of the Milwaukee Road or any other common carrier than a basic understanding by shippers and the public of the urgency of these problems It is time to clear away the misconshyceptions and outmoded regulations that bar the way to progress so that we may enter upon a new era of transportation efficiency and profitshyability
Chairman of the Board
By order of the Board of Directors March 16 1961
4
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
The Milwaukee Road is the railroad of the Creative Crews The sum total of the efforts of these crews-out on the line in the shops and in the offices-is a smooth working closely knit effishycient transportation unit
The services and operation of Carscope established late in 1959 were expanded substantially during 1960 The original function was centered on the tracing of the movement of all carloads over the system to provide up-to-the-minute information on the location and movement of all carload freight for shippers and receivers anyshywhere in the United States Since the center started operations other uses of the data provided have been developed through additional sorting and assembly of punched card data
The program of conversion to an electronic data processing system moved ahead in 1960 toward an operational goal in the second half of 1961 Major accounting processes are being redesigned to integrate related functions simplify procedures speed the flow of data and in general achieve maximum benefit from central processing on new electronic equipment Testing of programming for the IBM 7070 computer was started late in the year
The last of nine regional data offices was recently established completing a program started in mid-1960 to provide a means of moving basic information more rapidly from dispersed source points to the central computer Each office will gather freight revenue payroll and material data in its area and transmit over telephone lines to Chicago In addition freight billing and collection operations are being transferred to the regional offices from the hundreds of local agencies with attendant advantages from concentration and specialization of functions
The computer center at Chicago will also use freight movement information fed in hourly by teletype from 36 key yard offices equipped with punched-card and transmission equipment In addition to accounting outputs and control statistics the computer will develop from such input all reports needed by Carscope as well as reports designed to aid in the distribution of empty freight cars
New types of sales kits unique in the railroad industry provide traffic solicitors with visual aids in the form of pictures maps diagrams and colored leaflets graphishycally presenting the services of the railroad
New traffic department offices opened in 1960 were sales and service units estabshylished in Birmingham Ala and Memphis Tenn
5
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
Trailer-on-flat car services to shippers were broadened substantially in 1960 by the use of Flexi-Van conventional piggybacking and containerization The Flexi-Van fleet has been expanded four times since the inception of that service a little over two years ago In order to widen its piggyback service the railroad joined in 1960 the national equipment pools of Trailer Train Company and North American Car Corporashytion which provide flat cars for piggyback movements
The transcontinental piggybacking of automobiles which the railroad started early in 1960 expanded greatly during the course of the year
Deliveries of new Flexi-Van equipment to the Milwaukee Road and its subsidiary - The Milwaukee Motor Transportation Company-were substantial during 1960 Early in the year the railroad added 25 new Flexi-Van 85-foot flat cars and the Milwaushykee Motor added 75 new vans and 60 new bogies (wheel assemblies) The 85-foot flat cars were the first Flexi-Van cars of that length to be put into service in the industry
In mid-year Milwaukee Motor received delivery of 25 new mechanically refrigershyated Flexi-Van units equipped with dual temperature controls so they also can be heated for wintertime shipping of perishable commodities In addition 12 Milwaukee Motor insulated vans that already were in FIexi-Van service were converted into refrigshyerated trailers with the addition of mechanical refrigeration units
The deliveries of Flexi-Van units brought the Flexi-Van fleet to a total of 64 special flat cars and Milwaukee Motors fleet to a total of 221 vans and 142 bogies
Additions were made to the fleet of conventional piggybacking cars in 1960 by the conversion in the Milwaukee shops of a total of 121 flat cars to that type of operation Important in the speeding of transcontinental piggybacking of new automobiles by the Milwaukee from Chicago to the Pacific northwest was the lowering of the track through the eighty-five year old tunnel at Tunnel City Wis by 26 inches providing clearance for the automobile shipments
The larger clearance created by the project permitted the railroad to step up its schedules for the auto piggybacking and for other high dimension loads on the Chicago-Milwaukee-Twin Cities route The project which was completed in record time involved the re-Iaying of 3200 feet of track
In 1960 a coordinated rail-truck operation was developed in Washington The operation involves the transporting of bulk cement and of steel special equipment and machinery
This service is provided by a subsidiary-The Milwaukee Motor Transportation Company-which uses tractors and semi-trailers for the major part of the hauling Cranes transfer heavy equipment from rail cars to the motor carrier units
During 1960 Milwaukee Motor hauled a substantial number of carloads of cement steel special equipment and machinery from railheads to construction sites
This is an excellent example of how a railroad has tailored its services to meet the needs of shippers and consignees and retain business that otherwise would have been diverted to competitors In this instance the Milwaukee provides the link between the railhead and off-track construction sites thus handling the entire movement to the satisfaction of the contractors involved The efficiency of the operation is enhanced for the contractor because he has to do business with only one carrier
6
_ ~ I I
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
II I
A one million dollar spot system facility for repairing freight cars was placed in operation at the Bensenville Ill yards early in November Its completion marked another advance in the adoption of ultramodern techniques for speeding freight moveshyments for shippers and at lower cost to the railroad
The facility is one of the largest of its type in the country and the first to be inshystalled on a railroad serving the Northwest region The so-called one-spot repair system new in concept and practice is based on the principle of moving cars to men and material rather than men taking material to cars
The system is a compact layout featuring a 120 by 120 foot shop building with four servicing tracks Each of the tracks is equipped with two electric power winches that pull the cars to and from the shop building by means of between-the-rail cables attached to axle engaging devices known as rabbits The operation is controlled from a push button panel located at trackside in the building
Tools parts and equipment are assembled in one sheltered location to which cars are brought in a continuous flow All repairs are performed in the building with work going forward on the cars one at a time on the individual tracks The facility can be operated in all kinds of weather 24 hours a day
In 1960 the Milwaukee purchased new freight cars to meet the growing demand for longer and larger capacity rolling stock at a total cost of $9994400 A total of 775 new cars of various types was added to the fleet including 500 new wide door box cars 100 new covered hopper cars 100 general purpose flatcars of 60 foot length 50 damage free freight cars and 25 gondola cars
The 500 new box cars featuring doors which can be opened to a width of 15 feet 2 inches brought the Milwaukees total ownership of this highly versatile type to 1500
All the new freight cars purchased in 1960 had a capacity of 70 tons each and were equipped with roller bearings
An upgrading program carried out in Milwaukee included the rebuilding of 50-ton refrigerator cars 70-ton mill type gondola cars and 70-ton hopper type cars along with various other types of changes and additions to provide a wider and better service to shippers The major project in the Tacoma shops was the upgrading and repair of double door cars of 40 and 50 foot lengths
Delivery will start this spring on 40 new double-deck passenger cars ordered for suburban service from The Budd Company Philadelphia Pa at a cost of approxishymately six million dollars
The order for the new cars placed shortly after the approval of a fare increase last spring by the Illinois Commerce Commission was the first big step in the commuter service modernization program which looks toward the eventual replacement as earnshyings permit of all the present suburban cars with new double deck coaches
7
~- I II I j I III 1II~JII I ~ ~ I III~ I II I1III
11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
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11
Negotiations last year with the railroad brotherhoods both on a national and systemshywide basis resulted in a number of wage agreements In June mediation agreements were reached which granted a 2 per cent wage increase effective July 1 1960 and an additional 2 per cent increase on the same base effective March 1 1961 to the conshyductors engineers trainmen and firemen The cost-of-living provisions were eliminated
A mediation agreement was reached in August with 11 nonoperating employe groups granting 5 cents an hour increases in wages effective July 1 1960 Also welfare benefits were liberalized and life insurance provided effective March 1 1961 The cost-of-living provisions were also eliminated in this agreement
In September agreement was reached with the train dispatchers granting a wage increase of 2 per cent effective July 1 1960 and welfare and life insurance benefits effective March 1 1961 The cost-of-living provisions were eliminated Also in Sepshytember agreement was reached granting supervisors below the rank of general foreman in the mechanical department whose duties are exclusively supervisory a wage increase of $1217 per month effective July 1 1960 and a similar increase effective March 1 1961 with cost-of-living provisions eliminated
An agreement reached in November granted sleeping car porters a 5 centsan hour wage increase effective July 1 1960 and modification of health and welfare benefits including life insurance in accordance with the nonoperating agreement in August The cost-of-living provisions were eliminated
In December an agreement was reached granting parlor car conductors a wage increase of 2 per cent effective July 1 1960 a 2 per cent increase on the same base effective March 1 1961 and cost-of-living provisions eliminated
The 3 cents an hour wage increase made November 1 1959 in accordance with agreements providing for semi-annual adjustments for changes in the Bureau of Labor Statistics Consumers Price Index extended through the first 10 months of 1960 after which it was incorporated into the basic wage rates An additional 1 cent an hour cost-of-living increase was made in May 1960 which also became part of the basic wage rates in November 1960
Costs in the aggregate were increased approximately $3289000 in 1960 as the result of the wage and cost-of-living boosts and the effect of 1959 increases in the tax rates for unemployment compensation and for railroad retirement purposes
A 13 per cent increase in mail rates granted to the western lines in November 1960 will result in approximately one million dollars additional mail revenue annually for the Milwaukee The new rates became effective December 1 1960 and were retroshyactive to September 1 1960
8
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
The Interstate Commerce Commission is expected to make a final ruling in 1961 on exceptions filed to an adverse recomm~ndation by an examiner for the Commission on the first agreed charge rates ever published in the United States The Milwaukee and three other midwestern railroads are parties to the rates which apply on steel pipe shipments from Sault Ste Marie Ont to Chicago The examiners report held that such rates are unlawful under existing statutes
An examiner for the Interstate Commerce Commission in December 1960 recomshymended increases for Official territory and Midwestern lines on joint line traffic between (1) Official and Mountain-Pacific territories and (2) Midwestern and Mounshytain-Pacific territories If the examiners recommendations become effective it is estishymated that the Milwaukee Roads revenues from such traffic would increase more than $1600000 a year
The United States Supreme Court last year granted review of a decision adverse to the Milwaukee Road in the Spokane Gateway case and its ruling is expected in 1961
In order to be competitive with the Great Northern and Northern Pacific railroads for the long haul on traffic to and from points in Washington and Oregon served by the Spokane Portland and Seattle Railway system the Milwaukee Road instituted a proceeding before the Interstate Commerce Commission seeking joint rates to apply when such traffic moves over the Milwaukees line between Spokane and the Twin Cities the same as rates which apply when the traffic moves via the Great Northern or Northern Pacific
The Interstate Commerce Commission in 1957 denied such relief and in 1960 this decision was affirmed by the United States District Court in Milwaukee Wis
The second session of the 86th Congress in 1960 extended the 10 per cent travel tax to June 30 1961 Full removal of this burdensome tax is needed
The railroads pressed in Congress for passage of bills to permit them to diversify their services allow them to create a construction reserve fund and grant them accelshyerated depreciation None of these efforts was successful in the 86th Congress but renewed efforts for their adoption will be made in the 87th Congress
Several make-work proposals faced the railroads in the 86th Congress including one described as the track motor car bill and a measure making it more difficult to discontinue passenger trains the latter to be accomplished by amendment to the helpful Transportation Act of 1958 None of these efforts was successful
The voters of North Dakota in the general election held November 8 1960 apshyproved by a 3 to 2 margin repeal of a law on the North Dakota books since 1919 which required employment of an additional brakeman on freight trains of more than 40 cars The requirement claimed to have been made for safety reasons became obsoshylete many years ago through the modernizing of railway plant and equipment Imshyportant is the fact that the electorate in approving the Act expressed its opposition to provisions compelling employment of men where not needed
9
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
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b
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oz
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
Two large industrial real estate transactions were among those made in 1960 by the Milwaukee Road One was the sale of a 28 acre tract on Chicagos west side to Zenith Radio Corporation It was one of the largest vacant pieces of industrial land within the City of Chicago The other was the sale of approximately 15 acres of propshyerty in the Menominee River valley in Milwaukee Wisconsin to Great Lakes Coal and Dock Company
A total of 119 new industries located along the lines of the Milwaukee last year and 59 existing industries along the railroad expanded
The purchase of 391 acres of strategically located land during 1960 brings to 2100 acres the total acquired by the Milwaukee in the last several years to assure available sites for future industries served by the railroad
In 1960 with the approval of the Interstate Commerce Commission passenger trains between Madison Wis and Canton S D Milwaukee Wis and Channing Mich and LaCrosse Wis and Austin Minn were discontinued resulting in an annual saving of 523128 train miles
The City of Los Angeles and the City of San Francisco operated by the Milwaukee in conjunction with the Union Pacific railroad between Chicago and Omaha were consolidated with a saving of 78080 train miles in the period from late September to mid-December 1960 making an over-all total of 601208 train miles eliminated in that year
A series of Interstate Commerce Commission hearings was held in February 1961 on the application for authority to discontinue the Olympian-Hiawatha trains between Minneapolis Minn and Tacoma Wash representing 1318380 annual train miles Final action will await the decision of the Commission
The passenger service deficit determined in accordance with the rules of the Intershystate Commerce Commission was $2652726 less in 1960 than in 1959
Abandonments of line in 1960 and early 1961 included 257 miles between Seymour and Westport Ind 726 miles between Limestone Junction and Glacier Wash and 224 miles between Bridge Switch and Ramsey Minn
A decision from the Interstate Commerce Commission is expected soon on the application for authority to abandon 157 miles of line between Prairie du Chien Wis and Marquette Ia including two pontoon bridges over the Mississippi River The examiner for the Commission made a favorable report to which exceptions were filed by the City of Prairie du Chien Wisconsin
During 1960 the Milwaukee with the approval of State regulatory agencies closed 26 stations dualized 3 agencies and discontinued 8 custodian stations Although 26 other dualizations were approved by the Minnesota Railroad and Warehouse Comshymission they are being held up because no decision has yet been given on a court appeal by the Order of Railway Telegraphers in opposition to the move In addition discontinuances of 15 agency positions are pending before various State regulatory bodies
10
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
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b
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oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
In 1960 mortgage bonds and debentures in the principal amount of $2492600 were acquired and cancelled or are held in the Treasury
The following table shows that in the period from the consummation of the Plan of Reorganization on December 1 1945 to December 31 1960 $49797400 of mortshygage bonds were acquired and cancelled or are held in the Treasury This amount is more than 26 of the original issue In addition $1800000 of Five Per Cent Income Debentures have been acquired and cancelled or are held in the Treasury The resulting reduction in annual interest requirements is $2294246
SurrenmiddotCancelled Decreasedered ro Held Iorer-Through inITEM Trusree In Toral estSinking Annualfor Canmiddot Treasury RareFund Interestcellation
Chicago Milwaukee St Paul amp Pacific RR Co
First Mortgage 4 Bonds Series A $ 3450700 $2280100 $ 346300 $ 6077100 4 $ 243084 General Mortgage 4Y2 Income
Bonds Series A 22741400 610000 408500 23759900 4Y2 1069196 General Mortgage 4Y2 Converrible
Income Bonds Series B 16726300 733100 17459400 4Y2 785673 Five Per Cent Income Debentures
Series A 1500000 300000 1800000 5 90000 The Bedford Belt Ry Co
First Mortgage Bonds 17000 44000 61000 44 2593 The Sourhern Indiana Ry Co
First Mortgage Bonds 51000 256000 307000 44 13047 The Chicago Terre Haure amp Southeastmiddot ern Ry Co
First and Refunding Morrgage Bonds 536000 536000 44 22780 Income Mortgage Bonds 1597000 l597000 44 67873
Torals $44418400 $2958100 $4220900 $51597400 $2294246
As of April 1 1960 the record date for the 1960 Annual Meeting there were 5123 holders of Series A Preferred Stock and 10099 holders of Common Stock who resided in every State of the Union and in US territories and possessions The distribution by major classifications is as follows
Series A Preferred N umber of
Holders Shares Number of Held Holders
Common Shares Held
135292 4097 87956 3201 42307 2017
253097 784
Men 1935 Women 1908 Joint accounts 743 Fiduciaries institutions and foundations stock brokers nominees and others 537
568388 272599 164994
1117233
Total 5123 518652 10099 2123214
11
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
Long-term debt and equipment obligations due within one year outstanding in
the hands of the public as of December 31 1960 amounted to $273690700 compared
with $277397977 as of December 31 1959 a net decrease of $3707277
Increase
Equipment obligations covering purchase of equipment
Decreases
Mortgage Bonds and Debentures
Purchased and cancelled during the yeat through opetation of sinking funds-
First Mortgage 4 Bonds Series A
Less Bonds held in Treasury at December 31 1959 delivered to Mortgage
Trustee for sinking fund and cancelled during the year
General Mortgage 41 Income Bonds Series A
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
General Mortgage 41 Convertible Income Bonds Series B
Less Bonds held in Treasury at December 31 1959 sold to Mortgage Trustee
for sinking fund and cancelled during the year
Five Per Cent Income Debentures Series A
Less Debentures held in Treasury at December 31 1959 deposited with
Trustee for sinking fund and cancelled during the year
Purchased in the open market during the year and held in Treasury-
First Mortgage 4 Bonds Series A
General Mortgage 41 Income Bonds Series A
General Mortgage 41 Convertible Income Bonds Series B
Five Per Ceoc Income Debentures Series A
The Bedford Belt Ry Co First Mortgage Bonds
The Southern Indiana Ry Co First Mortgage Bonds
CTH amp SE Ry Co First and Refunding Mortgage Bonds
CTH amp SE Ry Co Income Mortgage Bonds
Equipment Obligations
Payments of Equipment Trust Certificates
Less Certificates Series]] held in Treasury at December 311959 and cancelled
by Trustee
$ 7650000
$ 349800
275000 74800
$1520100
895400 624700
$1296100
1296100
$ 300000
300000
346300
408500
577300
300000
21000
28000
77000
35000
6823000
125000 6698000
Payments of Conditional Sale Agreements covering purchase of equipment 2166677
Total Decreases $11357277
Net Decrease $ 3707277
12
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
The following is a summary of the capital expenditures made during 1960 Road property $ 6020662 Improvements on leased property 270 New equipment $10285197 Improvements to existing equipment 3681702 13966899
Total transportation properties 19987831 Miscellaneous physical property 102359
Total properties $20090190
Equipment delivered during the year 500-70-ton steel box cars with plug doors 100-70-ron flat cars 85 -70-ton steel covered hopper cars 50-70-ron DF steel box cars with roller bearings 25-70-ton gondola cars 15-70-ron steel covered hopper cars with pneumatic outlets
200-50-ron refrigerator cars (rebuilt) 68-70-ton gondola cars (rebuilt) 50-70-ron ballast and 1-70-ron hopper cars (rebuilt)
The source of funds for these expenditures was Equipment obligations issued for equipment delivered during the year $ 7597065 Depreciation amortization and retirement charges 5605313 Salvage from road and equipment retired 3380316 Donations and grants 246395 Moneys from property sales deposited with Mortgage Trustee
withdrawn or to be withdrawn 2990119 Other sources 25252 Unexpended funds carried over from year 1959 245730
TotaL $20090190 The amount of capital expenditures was 20090190
Remainder of funds $ 0
An estimated expenditure of $6515600 chargeable to capital account is planned for improvements to road property in the 1961 budget The improvements scheduled include provision for improving clearances in tunnels on the western lines depressshying certain tracks in South Minneapolis Minn laying of new and secondhand rail replacing renewing and strengthening of bridges and the purchase and installation of communication facilities for Electronic Data Processing
Estimated expenditures for new equipment and improvements to existing equipshyment provided for in the budget chargeable to capital account total $18599400 The new equipment to be delivered includes
750- 50-ton steel box cars with roller bearings 40-gallery type coaches 6-2400 HP Diesel-electric passenger locomotive units
The equipment improvement work scheduled for 1961 is a continuation of the Milwaukee Roads program of rebuilding upgrading and repairing rolling stock to provide patrons with suitable equipment and good service This program includes the installation in certain types of freight cars of loading devices designed to preven~
damage to ommodities
13
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
PEAT MARWICK MITCHELL amp CO CERTIFIED PUBLIC ACCOUNTANTS
111 vEST MONROE STREET
CHICAGO 3 ILLINOIS
ACCOUNTANTS REPORT
The Board of Directors Chicago Vulwaukee St Paul and
Pacific Railroad Company
11e have examined the balance sheet of Chicago Hihraukee St Paul and Pacific Railroad Company as of December 31 1960 and the related statement of income and retained income for the year then ended Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we conshysidered necessary in the circumstances
In our opinionthe accompanying balance sheet and stateshyment of income and retained income present fairly the financial position of Chicago Hilwaukee St Paul and Pacific Railroad Company at December 31 1960 and the results of its operations for the year then ended in conformity with principles of accounting prescribed or authorized by the Interstate Commerce Co~~ission applied on a basis consistent with that of the preceding year
We also have examined the statement of available net income and application thereof and it is our opinion that such statement presents fairly the computations of 1f ava ilable net income 1f for the year ended December 31 1960 in conformity with the provisions of the indentures
Chicago Illinois February 24 1961
14
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
YEAR
OPERATING REVENUES Freight Passenger mail and express Other
OPERATING EXPENSES Transportation
ANNUAL REPORT FOR 1960
STATEMENT OF INCOME AND RETAINED INCOME ENDED DECEMBER
Maintenance of way and structures Maintenance of equipment Traffic General and other
NET REVENUE
TAXES AND RENTS Federal income taxes (Note 3) Payroll and other taxes Equipment and joint facility rents-net
31 1960 WITH COMPARATIVE FIGURES FOR 1959
1960 1959
$189560907 $201536333
27623958 27324943 13178037 13180549
TOTAL 230362902 242041825
93769244 97849648 33691970 37430224
39048693 41862784
6581454 6749065
14838442 14959860
TOTAL 187929803 198851581
FROM RAILWAY OPERATIONS 42433099 43190244
(502073)
20137000 19917073
12641791 10123970 1---------------shy
TOTAL
NET RAILWAY OPERATING INCOME
OTHER INCOME Gain on sales of properties-nee Dividends and interest Miscellaneous-net
Fixed interest on long-term debt including amortization of discount
Contingent interest on long-term debt
Retained income at beginning of year
DIVIDENDS Preferred-$500 per share Common-$150 per share
Discount less premiums on mortgage bonds and debentures reacquired Estimated refundable federal income taxes Miscellaneous credits (charges)
TOTAL
NET INCOME
32778791 29538970
9654308 13651274
1405780 645275 1309234 2465529
873023 936557
3588037 4047361
13242345 17698635
5677502 5471962
7564843 12226673 6241780 6351497
1323063 5875176
84767002 83363306
86090065 89238482
2593260 2593260 3184872 3184871
1-------1------shyTOTAL 5778132 5778131
80311933 83460351
617791 767620
645105
98517 (106074)
716308 1306651
RETAINED INCOME AT END OF YEAR $ 81028241 $ 84767002
( ) Denotes contra Items See accompanying notes to financial statements 15
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
ASSETS 10 1959
CURRENT ASSETS
Cash and temporary cash investments $ 19954357 $ 30195945
Accounts receivable 19417396 18093197
Material and supplies at cost 18430319 20337088
Other current assets 1428952 1927262
TOTAL CURRENT ASSETS 59231024 70553492
SPECIAL FUNDS 2199299 852639
INVESTMENTS at cost (Note 1)
Affiliated companies 18688869 17028887
Other companies 670601 728437 1--------1-------shy
TOTAL INVESTMENTS 19359470 17757324
PROPERTIES (Notes 2 amp 3)
Road and roadway structures etc 674537236 671347422
Equipment 341373463 335072250
Acquisition adjustment and donations and grants Cr 177733674 Cr 177532805 1--------1-------shy
TOTAL TRANSPORTATION PROPERTIES 838177025 828886867
Less allowances for depreciation and amortization 257547044 248599089
NET TRANSPORTATION PROPERTY 580629981 580287778
N on-operating property less depreciation 4892692 5049887
NET PROPERTIES 585522673 585337665
OTHER ASSETS AND DEFERRED CHARGES 6238239 4387539
TOTAL ASSETS $672550705 $678888659
See accompanying l9r~s ~Q linancial statements 16
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
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oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
ANNUAL REPORT FOR 1960
BALANCE SHEET
DECEMBER 31 1960 WITH COMPARATIVE FIGURES FOR 1959
LIABILITY AND SHAREHOLDERS
CURRENT LIABILITIES
Accounts payable
Accrued payroll
Accrued taxes (Note 3)
Other current liabilities
EQUIPMENT OBLIGATIONS DUE WITHIN ONE YEAR (Note 4)
LONG-TERM DEBT
Mortgage bonds
Five per cent income debentures
Equipment obligations
RESERVES FOR VACATION PAY ETC (Note 4)
OTHER LIABILITIES AND DEFERRED CREDITS
SHAREHOLDERS EQUITY
Capital stock
EQUITY 1960 1959
$ 27388427 $ 25922119
6658943 6920679
8923827 8751185
1153008 1329939
TOTAL CURRENT LIABILITIES 44124205 42923922
8843552 8544193
140269800 142462400
58200000 58500000
66377348 67891384 1--------1-------shy
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
Common stock-no par value (stated value $100 per share) Authorized 2637450 shares (including 514221 shares reserved for conversion of General
Mortgage Bonds Series B) issued and outstanding 2123214 shares
Preferred stock-par value $100 per share 5 participating Authorized 1150000 shares issued and outstanding 518652 shares
Capital surplus
Retained income Appropriated bull Unappropriated
TOTAL SHAREHOLDERS EQUITY
CONTINGENT LIABILITIES (Note 5) TOTAL LIABIl1T1ES AND SHAREHOLDERS EQUITY
17
264847148 268853784
6909745 7204096
2582297
327306947
2380145
329906140
212321400
51865200
264186600
28917
44020761 37007480
81028241
345243758
212321400
51865200
264186600
28917
44006983 40760019
84767002
348982519
$672550705 $678888659
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
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b
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lt
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oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATEMENT OF AVAILABLE NET INCOME AND APPLICATION THEREOF
YEAR ENDED DECEMBER 31 1960 WITH COMPARATIVE FIGURES
--
Income available for fixed charges bull
FIXED CHARGES Rent for leased roads and equipment Interest on long-term debt
On First Mortgage 4 Bonds Series A On modified Terre Haute bonds On equipment obligations
Interest on unfunded debt Amortization of discount on long-term debt
TOTAL FIXED CHARGES
INCOME AFTER FIXED CHARGES
Add charges to operating expenses represeuting rhe service value of nondepreciable roadway propert y retired and nor replaced
AVAILABLE NET INCOME-as defined in the First Mortgage and General Mortgage indentures
ApPLICATION OF SUCH AVAILABLE NET INCOME Appropriated for sinking fund for retirement of First Mortgage 4 Bonds Series A Contingent interest on General Mortgage 412 Income Bonds Series A Contingent interest on modified Terre Haute bonds Contingent interest on General Mortgage 412 Convertible Inrome Bonds Series B Appropriated for sinking fund for retirement of General Mortgage 412 Income Bonds Series A
and Series B
REMAINING AVAILABLE NET INCOME
Deduct charges to operating expenses representing the service value of nondepreciable road way property retired and not replaced
AVAILABLE NET INCOME-as defined in the indenture relating to Five Per Cent Income Debentures Series A
ApPLICATION OF SUCH AVAILABLE NET INCOME Contingent interest on Five Per Cent Income Debentures Series A Appropriated for sinking fund for retircment of Five Per Cent Income Debcntures Series A
REMAINDER AVAILABLE FOR PAYMENT OF DIVIDENDS OR ANY OTHER PROPER CORPORATE PURPOSES
See accompanying notes to financial statements
18
FOR 1959
1960
$13242345
420
2145645 535706
2884166 233
111332
5677502
7564843
102024
7666867
286816 1513512
290487 1534382
543393
4168590
3498277
102024
3396253
2903400 182626
3086026
$ 310227
1959
$17698635
300
2159542 540833
2677184 565
93538
5471962
12226673
235185
12461858
272824 1572435
293457 1568105
543393
4250214
8211644
235185
7976459
2917500 203255
3120755
$ 4855704
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
ANNUAL REPORT FOR 1960
Notes to Financial Statements
December 31 1960
1 Investments in affiliated companies include $7023010 pledged as collateral to mortgage bonds The Companys equity in the retained income since acquisition of unconsolidated subsidiaries (as shown by their unaudited financial statements) amounted to $1731352 at December 31 1960 of which $376282 represents 1960 net income
Other income includes dividends of $400000 in 1960 and $1500000 in 1959 from Milwaukee Land Company
2 The road and equipment property is stated at original cost or estimated original cose as determined by the Interstate Commerce Commission plus additions and betterments at cost less retirements and depreciation Consistent with the practice generally followed by Class 1 Railroads the Company had not provided for deshypreciation on road property prior to 1942 however a provision for past depreciation was recorded at 30 of original cost as of January 1 1944
3 In determining the Federal income tax liability for 1960 the Company deducted approximately $6345000 from income for amortization of emergency facilities declining balance depreciation and various differences in depreciation bases and rates in excess of recorded depreciation As a result no provision is required for Federal income tax and the loss carry forward is increased by apptoximately $4753000 At December 311960 the total loss carry forward is $6997000 which may result in future tax reductions of $3638000
The accumulated tax reductions resulting from amortization of emergency facilities and declining balance depreciation amounted to approximately $23178000 at December 31 1960
The Federal income tax returns of the Company through the years 1951 have been examined by the Internal Revenue Service and the Companys tax liabilities have been settled through that year For the years 1952 1953 and 1954 the Internal Revenue Service has proposed additional assessments which are being contested by the Company and in final settlement are not expected to have a material effect upon the financial position or results of operations
4 Reserve for vacation pay of approximately $5500000 payable in 1961 and debt due within one year are not included in current liabilities
5 The Company was liable as guarantor jointly with other railroads of certain obligations of affiliated companies amounting to approximately $111845000 at December 31 1960
19
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
INVESTMENTS-DECEMBER 31 1960
EXTENT OF DESCRIPTION
NUMBER OF SHARES
CONTROL PER CENT
LEDGER AMOUNT
AFFILIATED COMPANIES WHOlly-OWNED SUBSIDIARIES
CAPITAL STOCKS Milwaukee Land Company A 5000 100 500000 The Milwaukee Motor Transportation Company A 500 100 50000
TOTAL CAPITAL STOCKS 550000 NOTE
Milwaukee Land Company A 100 2652000 ADVANCES
Milwaukee Land Company 100 905640 The Milwaukee Motor Transportation Company 100 1335353
TOTAL ADVANCES bullbull 1 ~2~24~0~9~9~3---TOTAL INVESTMENTS-WHOLLy-OWNED SUBSIDIARIES 5442993
JOINTLY-OWNED TERMINAL SWITCHING AND OTHER COMPANIES CAPITAL STOCKS
Chicago Terre Haute amp Southeastern Railway Company 4075505 5398 1 Chicago Union Station Company A 7000 25 7000 Davenport Rock Island amp North Western Railway Company A 15000 50 1750000 Des Moines Union Railway Company A 1000 50 100000 Des Moines Union Railway Company B 1000 50 26000 Indiana Harbor Belt Railroad Company A 15200 20 1520000 Kansas City Terminal Railway Company C 183333 8~ 183333 Minneapolis Eastern Railway Company A 625 50 15475 Packers Car Line Company 306 956 3060 Railway Express Agency Incorporated 26 26 2600 The Minnesota Transfer Railway Company A 913 11yg 91300 The Pullman Company 9426 128 348762 The St Paul Union Depot Company A 1036 12Y2 130475 Trailer Train Company 500 294 98860
TOTAL CAPITAL STOCKS 4276866 NOTE
Railway Express Agency Incorporated 26 751804 ADVANCES
Chicago Union Station Company 25 4786146 Davenport Rock Island amp North Western Railway Company 50 1292103 Des Moines Union Railway Company 50 855112 Kansas City Terminal Railway Company 8~ 647294 Packers Car Line Company 956 72464 The Minnesota Transfer Railway Company 11yg 353014 The St Paul Union Depot Company 12Y2 211073
TOTAL ADVANCES bull middot1 __--c~8~2~1~7L2~0~6c--_ TOTAL INVESTMENT-AFFILIATED COMPANIES 18688869
OTHER COMPANIES STOCKS
Miscellaneous 7676 DEBENTURES
Century 21 Exposition Inc 25000 NOTE
C H Lien Construction Company 1500 SALE AGREEMENTS
Best Built Company 35750 CargiIl Incorporated 390000 General Warehouse amp Transportation Company 24000 J K Fiddes 59200 J Lentin Lumber Company 39900 Monarch Warehouses Incorporated 27360 Steven] Kipper Jr 34039 Thisted Motor Company 11520 Other companies and individuals 14656
TOTAL SALE AGREEMENTS 636425 TOTAL INVESTMENT-OTHER COMPANIES
TOTAL INVESTMENTS
670601 $19359470
I--------=-=-=c--=-=--shy
A-Pledged under Chicago Milwaukee Sc Paul and Pacific Railroad Company First Mortgage except Directors qualifying shares B-Deposited with IowamiddotDes Moines National Bank Des Moines Iowa under Stock Trust Agreement dated June 14 1948 and pledged
under the First Mortgage C-Deposited with First National Bank of Kansas City Mo under Stock Trust Agreement dated June 12 1909 and pledged under the
First Mortgage except Directors qualifying shares
20
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
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t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
ANNUAL REPORT FOR 1960
INVESTMENT IN PROPERTIES
ACCOUNT BALANCE AT JANUARY 1
EXPENDITURES DURING THE YEAR
CREDITS FOR PROPERTY RETIRED DURING THE YEAR
BALANCE AT DECEMBER 31
J
ROAD Engineering Land for transportation purposes Other right-of-way expenditures Grading Tunnels and subways Bridges trestles and culverts Ties Rails Other track material Ballast Track laying and surfacing Fences snowsheds and signs Station and office buildings Roadway buildings Water stations Fuel stations Shops and enginehouses Storage warehouses Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous structures Roadway machines Roadway small tools Public improvements-Construction Other expenditures-Road Shop machinery Power-plant machinery
$ 19526006 39048637
381312 143144397
9833072 76929583 34650264 68850190 47424085 26425043 33120819
5401156 26590033
2113899 1091355
746608 19544030
64349 1607522 6300222
21437281 1612483 9737209
673072 8486729
321671 14661137
335 7212584 5500804
$ 80269 $ 47281 105987 319878 77192
258951 255767 114819 42593
1013757 304057 116894 47625 251013 51045 471429 50791
90866 25183 196827 57265
13843 2672 450470 826144
7026 37792 15021 69162
3325 173 537467 38753
29057 58332
564767 157799 360010 104017
612 13590 5060
79 5656 588388 61627
1042 270 232514 59940
422650 96923
3149 20334
$ 19558994 38834746
458504 143147581
9905298 77639283 34719533 69050158 47844723 26490726 33260381
5412327 26214359
2083133 1037214
749760 20042744
64349 1578247 6707190
21693274 1611871 9745739
667495 9013490
322443 14833711
335 7538311 5483619
TOTAL ROAD 632435887 6020402 2746751 635709538
EQUIPMENT Locomotives Freight-train cars Passenger-train cars Floating equipment Work equipment Miscellaneous equipment
124658042 169559340
31348424 278731
6893714 2333999
248407 598587 13410931 6445607
237485
91258 221157
216303 162850
124307862 176524664
31110939 278731
6763815 2387452
TOTAL EQUIPMENT 335072250 13966899 7665686 341373463
GENERAL EXPENDITURES 38292664 260 84367 38208557
r IMPROVEMENTS ON LEASED PROPERTY 618871 270 619141
TOTAL OPERATING PROPERTIES 1006419672 19987831 10496804 1015910699
MISCELLANEOUS PHYSICAL PROPERTY Non-operating property Track material loaned
7007150 206040
102359 6922
141991 7926
6967518 205036
TOTAL MISCELLANEOUS PHYSICAL PROPERTY 7213190 109281 149917 7172554
TOTAL PROPERTIES BEFORE RECORDED DEPRECIATION $1013632862 $ 20097112 I $ 10646721 $ 1023083253
21
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
CONTINGENT LIABILITIES WITH RESPECT TO SECURITIES OF OTHER COMPANIES AS OF DECEMBER 31 1960
ITEMS AMOUNT
CHICAGO UNION STATION COMPANY 1 First Mortgage Bonds 3Ya Series F due July 1 1963 $ 13718000 2 First Mortgage Bonds 2Ys Series G due July 1 1963 34030000 3 Note 5ri due September 1 1961 2500000
50248000 Principal and interesr guaranteed jointly and severally by the Railroad Com~any and 3 other proprietors at time of issue The
Railroad Company with other proprietors has agreed that gross rental to e paid bJ them for use of Chicago Union Station faciliries shall include a sum sufficient ro pay interest on all of these securiries an the payment into the Retirement Fund for First Mortgage bonds beginning in 1955 and to advance amounts requited to pay at maturity ptincipal of Item 3
INDIANA HARBOR BELT RAILROAD COMPANY 1 First Mortgage Bonds 5Ya due June I 1982 7235000 2 Equipment Trust Certificates 2 due annually Segtember 15 1961 to September 15 1964 772000 3 Equipment Trust Certificates 2ri due annually Fe ruary 15 1961 to February 15 1965 600000
8607000 Principal and interest on the 5Ya Bonds is guaranteed jointly and severally by the Railroad Company and 3 other proprietors
The Railroad Company and other proprietors severally guarantee in proportion to their stock holdings the payment by the Belt Railroad of the principal of and dividends on equipment obligations Items 2 and 3
KANSAS CITY TERMINAL RAILWAY COMPANY 1 First Mortgage Serial Bonds due annually October 1 1961 to October I 1974 38602000
Under a certain operating agreement the Railroad Company and 11 other proprietors are obligated to pay to the Terminal Company or in case of default to the Mortgage Trustee in equal shares the principal of these bonds as they mature in the nature of nonmiddot interest bearing advances and interest thereon as rental
PACKERS CAR LINE COMPANY Conditional Sale Agreements 298272
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-956
THE MINNESOTA TRANSFER RAILWAY COMPANY 1 3yeni Sinking Fund Promissory Notes dueJune 11976 1461600
Under provisions of the bymiddotlaws of the Transfer Co the Railroad Company and 8 other proprietors are required to conmiddot tribute on an ownership basis to (a) an annual sinking fund for these Notes equal to $41412 payable on or before May 20 of each year and (b) semimiddotannual installments of interest on the Notes
THE ST PAUL UNION DEPOT COMPANY 1 First and Refunding Mortgage Bonds 3Ya Series B due October I 1971 10891000
Guaranteed jointly and severally by the Railroad Company and 7 other proprietors each of which is also obligated to advance its ownership proportion of amounts required for Sinking Fund payments and to pay its proportion based upon use of the interest on the bonds
TRAILER TRAIN COMPANY Conditional Sale Agreements 1736741
The Railroad Companys portion of principal guaranteed based on its proportion of stock ownership-294
TOTAL $111844613
22
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
ANNUAL REPORT FOR 1960
LONG-TERM DEBT DECEMBER 31 1960
DESCRIPTION DATE OF
ISSUE DATE OF
MATURITY
AMOUNT ORIGINALLY
ISSUED OR ASSUMED
AMOUNT AS OF
DBc 31 1960
AMOUNT HELD BY COMPANY
AMOUNT ACTUALLY
OUTSTANDING RATE PER
CENT
INTEREST
PAYABLB ACCRUED DURING
YBAR First mongage bonds Series A General mortgage income bonds
Series A General mortgage convertible inmiddot
come bonds Series B Five per cent income debentures
Series A The Bedford Belt Ry Co Grsr
mongage bonds The Southern Indiana Ry Co first
mongage bonds Chicago Terre Haute and 5ourbmiddot
eastern Ry Co Firsr and refunding mortgage
bonds Income mortgage bonds
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
I 1944
11944
11944
11955
11946
11946
I 1946 I 1946
Jan
Jan
Jan
Jan
Jan
Jan
Jan Jan
11994
12019
12044
12055
11994
I 1994
11994 I 1994
$ 59515100
57256600
51422100
60000000
350000
7287000
9571000 6335800
$ 53784300
33905200
34640400
58500000
333000
7236000
9571000 6335800
$ 346300
408500
733100
300000
144000
256000
2051000 1597000
$ 53438000
33496700
33907300
58200000
189000
6980000
7520000 4738800
4
41
41
5
4~
44
4~ 4~
J amp J
April
April
MampS
JA amp J
JA amp J
JA amp J JA amp J
$ 2145645
1513512
1534381
2903400
7961
296938
320161 201133
Eb~ro~)nt obl~gati~~~ ~~ederails 163723218 75220900 75220900 2884166 Totallongmiddotterm debe $415460818 $279526600 $ 5835900 $273690700 $11807297
$100000 pledged undet ChIcago Terre Haute and Southeastern RaIlway Company Fust and refundmg mongage $1515000 pledged under Chicago Milwaukee St Paul and Pacific Railroad Company First mongage
EQUIPMENT OBLIGATIONS DECEMBER 31 1960
INTBRESTDATB OF DATB OF ORIGINAl AMOUNT AMOUNT PRINCIFAL
DESCRIPTION LBASE OR FINAL COST OF ORIGINALLY OUTSTANDING PAYABLB RATE ACCRUBD AGREEMENT MATURITY EQUIPMENT ISSUED DBc 31 1960 DURING 1961 PER PAYABLB DURING
CENT YEARI EQUIPMENT TRUST CERTIFICATES Series HH Apr 11949 Apr 11964 $ 8112742 $ 6060000 $ 1414000 $ 404000 2Ji AampO $ 37260 Series JJ Sept I 1949 Sept 1 1964 7604384 5640000 1504000 376000 2li MampS 34846 Series KK Oct I 1949 Oct 11964 ~026868 4500000 1200000 300000 2~ AampO 30375 Series LL June I 1950 June 1 1965 289514 4650000 1395000 310000 24 J amp D 36038 Series MM Nov 11950 Nov I 1965 7251863 5430000 1810000 362000 2n MampN 48554 Series NN June I 1951 June I 1961 7254678 5300000 265000 265000 2Ya JampD 17776 Series 00 OCt I 1951 Oct 11966 10053530 7500000 3000000 500000 2Ya AampO 93437 Seties PP bull Mar 11952 Mar 11967 3215855 2400000 1040000 160000 2Ya MampS 31817 Series QQ Sept I 1952 Sept 1 1967 5441323 3990000 1862000 266000 3Va MampS 61651 Series RR Jan I 1954 Jan 11969 10379112 7650000 4335000 510000 3Va J ampJ 139454 Series SS July 11954 July 11969 9931620 7800000 4680000 520000 24 J ampJ 132275 Series TT Nov 1 1954 Nov I 1969 9141903 7200000 4320000 480000 2Ya MampN 132250 Series UU Jan 11956 Jan 11971 9655380 7500000 5250000 500000 3raquo J amp J 181407 Series VV (1st Install) Feb I 1957 Feb 11972 3000000 2300000 200000 4 FampA 94667 11745718 Series VV (2nd InSltaII) Feb I 1957 Feb I 1972 6000000 4600000 400000 4Vs F ampA 207084 Series WW Jan 11958 Jan 11973 6814810 5400000 4500000 360000 4gtil J amp J 189338 Series XX Feb I 1959 Feb 11974 7419495 5850000 5265000 390000 41 FampA 242775Series YY (1st Install) Feb I 1960 Feb I 1975 3000000 2900000 200000 4Ya FampA 121878 Series YY (2nd Install) Feb 11960 Feb I 1975 9683950 4650000 4495000 310000 4~ FampA 128844 CONDITIONAL SALE AGREEMENTS
The FitS( National Bank of Chimiddot ca~o Assignee of the Sellers
Paci c Car amp Foundty Co May I 1956 Nov I 1964 1843205 1428400 731357 182916 395 FMAampN 32094First Wisconsin Narional Bank of
Milwaukee and Northwestmiddot ern National Bank of Minneshyapolis Assignees of tbe SeUers
General Motors Corpn (Electro-Motive Div) Feb 25 1953 May 11961 1543977 1155000 80558 80558 3 FMAampN 4594
Fairbanks Motse amp Co July 15 1953 Nov 1 1961 531102 396000 54830 54830 3 FMAampN 2380American Locomotive Co July 15 1953 Nov 1 1961 529935 396000 54830 54830 3 FMAampN 2380Baldwin-LimamiddotHamilton
Corporation July 15 1953 Nov 1 1961 357568 264000 36553 36553 3 FMAampN 1587Seattle-Fitst National Bank Asmiddot
Bai1i~e_~i~Sfa~il~~n Corporation SePt I 1953 Nov 1 1961 357568 264000 36979 36979 335 FMAampN 1791
General Motors Cotpn (Electro-Motive Div) Sept I 1953 Nov 1 1961 1670914 1236000 173128 173128 335 FMAampN 8385
American Locomotive Co Sept I 1953 Feb 11962 529935 396000 69048 55008 335 FMAampN 3135Continental Illinois National Bank
and Ttust Company of Chishycago Assignee of tbe SeUers
Pullman-Srandard Car Manumiddot facturing Co May 11958 Nov I 1973 4920125 4920125 4245616 328008 440 MampN 195836
General American Transpotta tion Corporation May I 1958 Nov I 1973 6165438 6165438 5296389 411029 440 MampN 244862
United States Railway Equipment Co May 11958 Nov 1 1973 570706 570706 494612 38047 440 MampN 22740
General Motors Cotpn Jan 15 1959 Mar I 1974 8680000 8680000 7812000 578666 5 MampS 402656 Total equipment obligations $163723218 $129391669 $75220900 $ 8843)52 $ 2884166
PAYMENTS MATURING IN YEARS ENDING December 31 1961 $ 8843552 December 31 1966 $ 6151751 December 311971 $ 3465751December 31 1962 8108041 December 31 1967 5571751 December 311972 291751December 311963 8101627 December 31 1968 )225751 Decembet 31 1973 bull 2370271Decembet 31 1964 bull 7862066 December 31 1969 4970751 Decembet 31 1974 994335December 311965 6668751 December 31 1970 3715751 December 311975 _ 255000
Total $75220900
23
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILES OF ROAD BY STATES DECEMBER 31 1960
ROAD OPERATED
STATE OWNED SOLELY OWNED JOINTLY TRACKAGELEASED TOTALMAIN BRANCH MAIN BRANCH RIGHTS
LiNE LINE LINE LINE
Idaho 11276 11083 9middot11 23270 Illinois 43296 11755 240 14 13231 68536 Indiana 15591 3679 19270 Iowa 119993 51468 08 04 10 6706 178189 Kansas 705 705
Michigan 5782 11978 25 583 18368 Minnesota 75531 35154 503 2270 19410 132868 Missouri 13002 944 1651 15597 Montana 74753 47322 2999 46 125120 Nebraska 562 562
North Dakota 10250 26329 110 36689 South Dakota 104314 69528 173842
31469 47426 2688 5000 20110 106693i~~~~J~n 103928 47228 1634 7051 159841
Total 609185 362950 4383 12056 10 70966 1059550
Includes 97 mile owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contraCt
MILES OF TRACK DECEMBER 31 1960
OWNED OWNED TRACKAGEITEMS LEASED TOTALSOLELY JOINTLY RIGHTS
Miles of Road (First Main Track) Operated 972135 16439 10 70966 1059550 Not operated 362 362
Additional Main Tracks Operated 69332 1424 41 31329 102126 Not operated
Yard Tracks and Sidings Operated 321153 25542 219 47997 394911 Not operated 228 2626 2854
I-----f------f-----middotI-----I----shyTotal operated 1362620 43405 270 150292 1556587
Total not operated 590 2626 3216 I-----f-----Imiddot-----I-----I----shy
Grand Total 1363210 46031 270 150292 1559803
Miles of Road operated includes 97 mile Yard Tracks and Sidings operated includes 124 miles owned by C M St P amp P R R Co leased to Des Moines Union Ry Co but used by C M St P amp P R R Co under contract
24
ill ~ It
I I I i I I I bull II III
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
Cumln~ l Jl I (I I
lt lt
b
t ltJ
lt
t
oz
cq32-TT
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
ANNUAL REPORT FOR 1960
DETAILED STATEMENT OF RAILWAY OPERATING REVENUES AND EXPENSES
RAILWAY OPERATING REVENUES
1960 1959 INCREASE DECREASE TRANSPORTATION
Freight $189560907 $201536333 middot0 $ 11975426 Passenger 15174969 15282171 107202 Baggage 79806 86066 middot 6260 Parlor and chair car 83476 91957 8481 Mail 9418410 8862116 $ 556294 Express 3030579 3180656 150077 Other passenger-crain 107746 100303 7443 Milk 18260 30216 middot 11956 Switching 5979910 6591066 611156
1------1------1-------1------shyTOTAL TRANSPORTATION REVENUE 223454063 235760884 12306821
INCIDENTAL
Dining and buffet 1521218 1527536 6318 Station crain and boat privileges 57552 56068 1484 Storage-Freight 8015 11196 - 3181 Storage-Baggage 3631 3837 - 206 Demurrage 1240131 1248537 8406 Communication 55650 72541 16891 Rents of buildings and other property 257841 246697 11144 Miscellaneous 461149 507969 middot middot0 46820
TOTAL INCIDENTAL OPERATING REVENUE 3605187 3674381 69194
JOINT FACILITY
Joint facility-Credit 3315646 2620693 694953 Joint facility-Debit (11994) (14133) (2139)
TOTAL JOINT FACILITY OPERATING REVENUE 3303652 2606560 697092
TOTAL RAILWAY OPERATING REVENUE $230362902 $242041825 $ 11678923
( ) Denotes concra items
RAILWAY OPERATING EXPENSES
1960 1959 INCREASE DECREASE MAINTENANCE OF WAY AND STRUCTURES
Superincendence $ 3108012 $ 3388761 $ 280749 Roadway maincenance 2861659 2867371 5712 Tunnels and subways 10889 11354 465 Bridges trestles and culverts 986082 1198575 212493 Ties 1793766 1827106 33340 Rails 592902 894914 302012 Other track material 1336407 1996881 660474 Ballast 217365 408471 middot 191106 Track laying and surfacing Fences snowsheds and signs
6515560 319315
7505265 398716
989705 79401
Station and office buildings 828484 1014046 185562 Roadway buildings 55448 86514 31066 Water stations Fuel stations
12115 26908
21831 16802 $ 10106
9716
Shops and enginehouses 574222 542976 31246
25
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPAfjY
PRINTED IN -SA
RINGLEYmiddotOmiddotSRIEN PRESS CHlCJGO
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
RAILWAY a PERATING REVENUES AND EXPENSES- CONTINUED RAILWAY OPERATING EXPENSES-CONTINUED
MAINTENANCE OF WAY AND STRUCTURES
Wharves and docks Communication systems Signals and interlockers Power planes Power-transmission systems Miscellaneous StruCtures Road property-Depreciation _ Retiremenes- Road Roadway machines _ Dismantling retired road property Small cools and supplies Removing snow ice and sand Public improvemenes-Maintenance Injuries co persons Insurance Stationery and printing Other expenses Right-of-way expenses Maineaining joint cracks yards and other facilities-Debit Maintaining joint tracks yards and other facilities-Credit
TOTAL MAINTENANCE OF WAY AND STRUCTURES
MAINTENANCE OF EQUIPMENT
Superintendence Shop machinery Power-plant machinery Shop and powerplant machinery-Depreciation Dismantling retired shop and powermiddotplane machinery Other locomotives-Repairs Freight-train cars-Repairs Passenger-train cars-Repairs Work equipment-Repairs Miscellaneous equipment-Repairs Dismantling retired equipment Retirements-Equipment Equipmene- Depreciation Inj uries to persons Insurance Stationery and printing Other expenses Taint maintenance of equipment expenses-Debit Taint maineenance of equipmene expenses-Credit
TOTAL MAINTENANCE OF EQUIPMENT
TRAFFIC
Superintendence Outside agencies Advertising Traffic associations Industrial and immigration bureaus Insurance Stationery and printing Other expenses
1960 1959 INCREASE DECREASE
$ 56714 $ 36447 $ 20267 bullbullbullbullbullbullbull _0 bullbullbullbullbullbull
935578 909129 26449 bullbull 0 bullbullbullbullbullbullbull 0 bullbullbullbullbull
bullbullbullbullbullbull 0 bullbullbullbullbullbull bull bullbull 1838913 1653168 185745 31898 33384 $ 1486 301492 355954 54462 9685 11190 middot 1505 5028247 4953681 74566 197350 241483 44133 706168 892299 186131 107360 148842 middot 41482 780012 825073 45061 841898 1093119 251221 736255 713553 22702 0 326277 442052 115775 50816 46225 4591 71268 87971 16703 419344 470012 50668bull bullbull 0 bullbullbullbullbullbullbullbullbullbull
43266 45762 2496
2725332 2842160 middot 116828
(755037) (550863) (204174) 1------1------1-------1------shy
33691970 37430224 3738254
1716762 1720882 41200 bullbullbullbullbullbullbullbullbullbullbullbullbullbullbull
521695 506499 15196
133941 153222 19281
284088 285333 1245
3681 856 2825
12448450 13197294 748844
9119749 10867539 1747790
2844061 3581261 737200
249163 301007 middot 51844
196990 196551 439
110983 91095 19888
(139163) (764585) (625422)
10468468 10143824 324644
245956 297309 51353
66754 68018 1264
42632 59005 16373
477426 563338 85912
292109 629586 337477
( 35052) (35250) (198)
39048693 41862784 2814091
1853253 1775877 77376
3420570 3680896 260326
641695 669595 27900
316941 281954 34987
50793 58011 7218
991 875 116
267539 246898 20641
29672 34959 5287 1------1------1middot------1------shy
TOTAL TRAFFIC EXPENSES $ 6581454 $ 6749065 $ 167611
( ) Denotes contra items
26
ANNUAL REPORT FOR 1960
RAILWAY OPERATING REVENUES AND EXPENSES-CONCLUDED
RAILWAY OPERATING EXPENSES-CONCLUDED
1960 1959 INCREASE DECREASE TRANSPORTATION
Superintendence $ 2981453 S 2814960 $166493 Dispatching trains 737390 807806 $ 70416 Station employees 12568811 13277513 708702 Weighing inspection and demurrage bureaus 307278 325534 bullbullbullbullbullbull 0 bullbullbullbullbullbullbullbullbull 18256 Station supplies and expenses 1091896 1140062 bullbull 0 bullbullbull 0 bullbullbullbullbullbull 0 bullbull 48166 Yardmasters and yard clerks 3991133 4119498 bullbullbullbullbullbull 0 bullbullbullbullbullbull 0 bullbull 128365 Yard conductors and brakemen 9303622 9647318 343696 Yard swirch and signal tenders 730410 755025 24615 Yard enginemen 6155278 6362440 207162 Yard switching fuel 923737 988987 65250 Yard switching power purchased 11946 15258 bullbull 0 bullbullbullbullbullbullbullbullbullbullbullbullbull 3312 Water for yard locomotives 17360 19948 2588 Lubricants for yard locomotives 83523 109472 25949 Other supplies for yard locomotives Enginehouse expenses-Yard
49721 498339
48817 542983
904
44644
Yard supplies and expenses Operating joint yards and terminals-Debit Operatin~ joint yards and terminals-Credit Train engInemen Train fuel Train power purchased Water for train locomotives
466959 5790981 (683719)
9533667 7243332
864933 94310
441246 5978628 (685475)
9966568 7758783
907295 105164
25713 middot bull bullbull 0 bullbullbullbullbullbullbullbullbullbull 0
middot
187647
(1756) 432901 515451 42362 10854
Lubricants for train locomotives 795622 938600 142978 Other supplies for train locomotives Enginehouse expenses-Train Trainmen
210707 1124921
12091384
202708 1222756
12613963
7999 bullbullbullbull 0 bullbullbullbullbullbullbull bullbullbullbull
97835
522579 Train supplies and expenses 6340264 6660876 320612 Operating sleeping cars 715113 526531 188582 Signal and interlcker operation CrOSSIng protectIOn
1049887
721750 1037947
806370 11940
middot
84620 Drawbridge operation 215086 258082 42996 Communication system operation 1060497 1081772 21275 Operating Boating equipment 11796 10985 811 Srationery and printing 412827 392820 20007 Other expenses 817489 848149 30660 Operating joint tracks and facilities-Debit 1170056 1311393 141337 Operating joint tracks and faciliries-Credir Insurance
(786053)
78437 (751937)
92514 (34116)
14077 Clearing wrecks Damage to property
265853 120728
230128 206210
35725
85482
Damage to live stock on right-of-way Loss and damage-Freight
80817
2795442 53816
2942960 27001
147518 Loss and damage-Baggage 5528 722 4806 Injuries to persons 1708733 1714453 5720
TOTAL TRANSPORTATION EXPENSES 93769244 97849648 4080404
MISCELLANEOUS OPERATIONS Dining and buffet service 2855845 2888241 32396 Operaring joint miscellaneous facilities-Debit 149757 207418 57661
J------J------I-------I------shyTOTAL MISCELLANEOUS OPERATIONS 3005602 3095659 90057
GENBRAL Salaries and expenses of general officers 1421416 1331832 89584 Salaries and expenses of clerks and attendants 6821635 6920559 98924 General office supplies and expenses 753564 727092 26472 Law expenses 831662 811940 19722 Insurance 33708 6002 27706 Pensions and gratuities 818190 917286 99096 Stationery and priming 348137 336267 11870 Valuation expenses 53068 59453 6385 Other expenses 501292 520844 19552 General joint faciliries-Debit 258783 241859 16924 General joint faciliries-Credit (8615) (8933) (318)
TOTAL GENERAL EXPENSES 11832840 11864201 middot 31361
GRAND TOTAL RAILWAY OPERATING EXPENSES $187929803 $198851581 $10921778
( ) Denotes contra items
27
bullbullbull
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
ANALYSIS OF INCREASES AND DECREASES IN TOTAL RAILWAY OPERATING EXPENSES 1960 COMPARED WITH 1959
MAINTENANCE MAINTENANCE TRANSshyITEMS OF WAY AND OP ALL OTHER TOTALPORTATIONSTRUCTURES EQUIPMENT
LABOR General wage increases + $ 360933 + $ 323486 + $1370434 + $ 289045 + $ 2343898 Straight time worked - 2213317 - 2135307 - 4273302 - 680973 - 9302899 Overtime worked - 76922 - 10613 - 163702 9398 - 241839+ Time paid for not worked (incl vacations and holidays) - 100783 - 137170 - 123771 33475 - 323249+
TOTAL LABOR - 2030089 - 1959604 - 3190341 - 344055 - 7524089
FUEL Price middot middot middot - 375791 - 375791 Consumption middot middot middot - 204910 - 204910
TOTAL FUEL middot middot middot middot - 580701 middot - 580701
ELECTRIC POWER middot bullbullbullbullbullbull to middot middot - 45674 middot - 45674
MATERIAL-Ocher than fuel Price + 106251 112344 - 1059 17453 234989 Quanticy - 1181388 - 900335 201128 34210 - 1846385
+ + + + +
TOTAL MATERIAL OTHER THAN FUEL - 1075137 - 787991 200069 51663 - 1611396+ + MISCELLANEOUS
Health and welfare benefits - 38735 - 60626 - 57909 - 15652 - 172922 Other miscellaneous - 624726 - 954691 - 405848 19015 - 1966250+
TOTAL MISCELLANEOUS - 663461 - 1015317 - 463757 3363 - 2139172+ TOTAL LABOR MATERIAL AND MISCELLANEOUS - 3768687 - 3762912 - 4080404 - 289029 - 11901032
DEPRECIATION + 74566 323399 middot + 397965+ middotRETIREMENTS - 44133 625422 middot + 581289+
TOTAL DEPRECIATION AND RETIREMENTS + 30433 948821 middot middot + 979254+ TOTAL RAfLWAY OPERATING EXPENSES - $3738254 - $2814091 - $4080404 289029 - $10921778-I $
RAILWAY OPERATING REVENUES EXPENSES TAXES AND INCOME BY MONTHS FOR THE YEAR ENDED DECEMBER 31 1960
1960
RAILWAY OPERATING REVENUES
RAILWAY OPERATING
EXPENSES
NET REVENUE FROM
RAILWAY OPERATIONS
RAILWAY TAX
ACCRUALS
RAILWAY OPERATING
INCOME
EQUIPMENT RENTS-NET
DR
JOINT FACILITY
RENTS-NET DR
NET RAILWAY OPERATING
INCOME
January $ 17336067 $ 15803272 $ 1532795 $ 1670000 $ (137205) $ 422175 S 231113 $ (790493) February 18493440 15151942 3341498 1673000 1668498 490735 234172 943591 March 19025746 15902966 3122780 1695000 1427780 686903 219282 521595 April bull 18042813 15280563 2762250 1684000 1078250 586443 251268 240539
May 18975935 16148830 2827105 1728000 1099105 824503 181449 93153 June 19011723 16297457 2714266 1727000 987266 803292 217671 (33697) July 18796482 15947748 2848734 1728000 1120734 823376 203289 94069 August 23377375 17022049 6355326 1806000 4549326 1420370 316997 2811959
September 20166066 15953895 4212171 1685000 2527171 1100653 248649 1177869 October 20925500 14736878 6188622 1647000 4541622 980838 252319 3308465 November 18549759 14797644 3752115 1620000 2132115 848876 267507 1015732 December 17661996 14886559 2775437 1474000 1301437 791725 238186 271526
Total $230362902 $187929803 $42433099 $20137000 $22296099 $9779889 $2861902 $9654308
( ) Denotes contra items 28
ANNUAL REPORT FOR 1960
REVENUE FREIGHT TRAFFIC STATISTICS-EXCLUDING TRUCK SERVICE
FREIGHT REVENUE AVERAGE
TONS TONSYEAR HAUL- PERCARRIED MILES PER
MILES TOTAL TON MILETON
(CENTS)
1951 51740580 16732323827 32339 $217832219 $421 1302 1952 49522089 16005309995 32320 222648097 450 1391 1953 46810989 15413226569 32927 215622726 461 1399 1954 43123214 14178678856 32879 197712105 458 1394 1955 45481060 95561748530 34216 205993029 453 1324
1956 45351213 15612344863 34425 209886542 463 1344 1957 42915573 14614118553 34025 212631339 495 1455 1958 40117213 13884510331 34610 205489920 512 1480 1959 40199394 14121939599 35130 201705278 502 1428 1960 38305568 13604642301 35516 189750236 495 1395
REVENUE PASSENGER STATISTICS-EXCLUDING BUS SERVICE
PASSENGER REVENUE AVERAGE
PASSENGERS PASSENGER DISTANCE PER YEAR
CARRIED MILES TRAVELED PER PASSENGER TOTAL
-MILES PASSENGER MILE (CENTS)
OTHER THAN COMMUTATION
1951 3341410 776958568 23252 $ 18484470 $553 2379 1952 3346346 739380708 22095 17569369 525 2376 1953 3158639 658842799 20858 15396026 487 2337 1954 3057733 599281006 19599 13582309 444 2266 1955 3003108 571128913 19018 12413340 413 2173
1956 3266663 696906549 21334 15758692 482 2261 1957 2943819 587947230 19972 14064509 478 2392 1958 2889740 549258597 19007 12969955 449 2361 1959 1839572 523514965 28459 12490275 679 2386 1960 1759253 515650913 29311 12095377 688 2346
CoMMUTATION
1951 4186842 94960045 2268 $ 1251058 $ 30 1317 1952 3899249 89299292 2290 1325955 34 1485 1953 3823231 88929041 2326 1316554 34 1480 1954 3920824 93543801 2386 1374494 35 1469 1955 4176751 98901556 2368 1463125 35 1479
1956 4150616 100135407 2413 1474073 36 1472 1957 4074228 98630820 2421 1463767 36 1484 1958 4338777 103055843 2375 1567002 36 1521 1959 5521115 123694172 2240 2818185 51 2278 1960 5036666 111139202 2207 3095340 61 2785
TOTAL
1951 7528252 871918613 11582 $ 19735528 $252 2263 1952 7245595 828680000 11437 18895324 261 2280 1953 6981870 747771840 10710 16712580 239 2235 1954 1955
6978557 7179859
692824807 670030469
9928 9332
14956803 13876465
214 193
2159 201
1956 7417279 797041956 10746 17232765 232 2162 1957 7018047 686578050 9783 15528276 221 2262 1958 1959 1960
7228517 7360687 6795919
652314440 647209137 626790115
9024 8793 9223
14536957 15308460 15190717
201 208 224
2229 2365 2424
BeglOnmg With year 1959 lOcludes cash fares single and round trip tickets sold for travel within suburban area which in prior yeaTS were included in Other than Commutation
29
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
STATISTICS OF OPERATIONS
TOTAL TRANSPORTATIONFREIGHT TRAINS PASSENGER TRAlNS SERVICE ITEMS I
1960 1959 1960 1959 1960 1959
RAlL-LINE Average miles of road operared 1 1deg--589_1---1deg586=_-------34-=68 -1-__394-=-9_1-----=10--597-1---I0-594=-
TRAlN MILES
Ordinary (wirh locomorives) 9554242 10152235 6185162 6740403 15739404 16892638 Ligh t (with locomotives) 1_----27--3-59_ 1__-----_24----42-=5_ 1_middot_-----=--------_1 __---c-_o---=-_ 1_--=-2~73-50-9_1_---2442-5_
Total (with locomotives) 9581601 10176660 6185162 6740403 15766763 16917063 Motor car trains bull middotICmiddotmiddotmiddotmiddot~ ----1----=----middotmiddot_1----------1~7-o1_=_60--1-____=_=65--4_8__7+--=-=-1-721-6_0-1-_________65_--487-
Total train miles 1_ __=9 0-58_1--6_deg 1 1__1deg 176--=66_deg--1 60-2_0_23_22_1 __68_0_5 89_deg_1 __15--7_83-923_1 __16--bull98_2-0-550_
LOCOMOTIVE MILES
Principal 9583849 10180397 6185162 6740403 15769011 16920800 Helper 81260 109822 286 726 81546 110548 Lig~t 104438 151874 35078 49266 139516 201140 TraIn sWItchIng 856137 864118 bull bull 856137 864118 Yard switching 1_ __=5-58757--2_1_--=-58---62-=-6-=48=_1 __~4--28-0-54__=31__--441--949-1 __60161_15_1 __630_4--59-=-7
Total locomotive miles 1-162213--2561----=-17-168859=_1---=6649-deg-=69=-1----723-234-4+2=2c862325_1_---=-24401203=_
CAR MILES
Loaded freight cars 431972870 466352092 517228 101495 432490098 466453587 Empty freigh tears I~26624=2gt490_127-=325-=-3~4~594-1------=--5==-- bull6471=-1------=-=-5o-6_01---266--248gt13--1_ 1-27-3gt5-35-154=-
Total loaded and empty freight cars 698215360 739886686 522869 102055 698738229 739988741 Caboose 1~_9285~9235-=-5-1-~1023=2-=-9-651=-1------=_1~--2101------=-~2~1~1=7--1-~9~86-0--5-6--5-1-=-1=_=0--33__1--7--68--
Total freight car miles 17deg8gtdeg742715-1-7502216233~7 1_----=524-079=-1_---=104172_ 1-7deg825982794=-1 _---750-320509=_
Passenger coaches 4913 3974 22864172 23715856 22869085 23719830 Sleeping and parlor cars (Company) 1812568 1817919 1812568 1817919 Sleeping cars (Pullman) 38383 35410 12685592 13337316 12723975 13372726 Club lounge dining and observation cars 547 bull 4989125 5250522 4989672 5250522 Combination passenger and head end cars 501995 659233 169149 142633 671144 801866 Mail express and baggage cars 2570197 2539863 21120653 22269656 23690850 24809519 Business cars 1---=--3-6~66-41--=-=---44---1-5 133-deg82_ 1_-----1--49-=-3deg8_ 1_--16-=-974-=6_1_-----_193---4657-_ 1_----shy
Total passenger car miles I~--=3215226~99-1-__=__3~282=63=__7_1-63-7--7--4~3--41_1--6-6-6-83-21--0+-66--9-2 65--847shy72deg4deg+-=-=-69--9--Grand total car miles 1 7_11 _227--4_1_4_1 753 498-974_1_6_429_84_2deg---1_6_67_8_7--=3_8_2_ 775 525--8--=34_ __8_2deg_2_86--bull356_
1 1
GROSS TON MILES
Locomotives and tenders (thousands) 1_ __=3-3942655-1 __3450-518--1__2--0_4_22_10---1 __21_6--2 1-13_ _---=5 436--865_ __5--612__=6311 1Freight cars contents and cabooses (thousands) 31409774 32603899 23551 4151 31433325 32608050 Passenger cars and contents (thousands) 1---1632517-1---------=-1670109=-1---41deg29-=-95_1--42999-8--4-1---4--26625o-12=-1------4=467o-O973=-
To tal freig ht and passenger (th0 usands) 1 31 57322-911_----32-- 771degdeg8=_1 41_265_46_ 1__4--=30_4 135_1 35--699--8__=37_ ____=_37-- 075_14__=3-shy1
TRAIN HOURS
Train hours in road service 473544 507565 137163 154436 610707 662001
REVENUE AND NONREVENUE FREIGHT TRAFFIC Tons of revenue freight ~8305568 40199394 Tons of nonrevenue freight middot1middotmiddotmiddot--- middotmiddot-=middot1middot---middotmiddotmiddotmiddot--- middotmiddot-1middotmiddot---middot---middotmiddotmiddot--- cl __ __ middot_middotmiddotmiddot1 _=-=-8421=-=35_ 1-------1_=_deg6--deg-53-7shy
Total tons of freight IC--- I~ +bull--- 1 --- ---1 392147-7deg3_1_---=-41=2-59093-1 Net ton miles revenue freight (thousands) 13604642 14121940 Net ton miles nonrevenue freight (thousands) middot1-middotmiddot--middot-middot=~-c- -1-------------middot1middotc----c_c I_____--_middot~middot-middotmiddotI_=-=---25797-5179c+----=-3_=_81c-0=-36--
Total net ton miles of freigh t (thousands) 1_c138530726=_1----=-145021~3=-301--104~35 _1 1646_1-1386421611----=-145deg2976
REVENUE PASSENGER TRAFFIC
Passengers carried 6795919 7360687 Passenger miles 626790115 647209137
MOTOR VEHICLE OPERATIONS EXCLUDED ABOVE Net ton miles revenue freight (thousands) 1124 1318 Passengers carried 995 1914 Passenger miles 1041447 991687
30
ANNUAL REPORT FOR 1960
STATISTICS OF OPERATIONS-CONCLUDED
-ITEMS 1960 1959 1958 1957 1956 1955
FREIGHT TRAIN STATISTICS AND AVERAGES
Gross ton miles trailing (thousands) 31573291 32771008 32413288 34236747 36203655 36228284
Eastbound 17124676 18176737 18125895 18805435 19734331 19787705 Westbound 14448615 14594271 14287393 15431312 16469324 16440579
Steam middot middot 135 133258 Dieselmiddotelectric 29107869 29901296 29705585 31129417 32597742 32536016 Electric 2465422 2869712 2707703 3107330 3605778 3559010
Per cent steam - middot 4 Per cent Dieselmiddotelectric 922 912 916 909 900 898 Per cent electric 78 88 84 91 100 98
Loaded freight cars per train 452 459 443 443 446 434 Empty freigh t cars per train 279 270 277 267 247 235
Total freight cars per train 731 729 720 710 693 669
Gross tons per train - 3305 3228 3157 3117 3070 2969 Net tons per train 1450 1428 1390 1373 1370 1323 Net tons per loaded car 321 311 313 310 307 305 Miles per car per day (serviceable freight) 393 390 357 370 387 377 Net ton miles per freight car-day 736 734 655 673 715 702 Train speed (train miles per train hour) 202 200 196 192 191 190 Gross ton miles (trailing) per train hour 66674 64565 61714 59780 58328 56315
PASSENGER TRAIN STATISTICS AND AVERAGES
Passenger car miles (excluding motor) - 64230016 66525240 69087808 75256765 86613202 72582117
Steam middot 13184 16967 Dieselmiddotelectric 64227781 66502614 65218200 71665998 81157901 66905429 Electric 2235 22626 3869608 3590767 5442117 5659721
Per cent steam middot Per cent Diesel-electric 1000 1000 944 952 937 922 Per cent electric middot 56 48 63 78
Cars per train (excluding motor) 1038 987 960 960 984 891 Revenue passengers per train 1012 952 898 865 894 812 Revenue passengers per car 166 165 161 160 168 175 Train speed (train miles per train hour) 452 441 444 439 447 429
YARD SWITCHINGSTATISTICS
Yard switching hours 1002686 1Oi0766 1063803 1184130 1251620 1274248
Steam middot 7 11279 Dieselmiddotelectric 994370 1038534 1056660 1174874 1235025 1246748 Electric 8316 12232 7143 9256 16588 16221
Per cent steam middot middot 9 Per cent Dieselmiddotelectric 992 988 993 992 987 978 Per cent electric 8 12 7 8 13 13
DENSITY STATISTICS
Per mile of road per day (freight service) Train miles ordinary Net ton miles
Per mile of road per day (passenger service) Train miles Car miles
25 3575
49 507
26 3753
47 463
27 3694
48 455
28 3896
47 450
30 4153
53 517
31 4161
48 425
31
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
REVENUE FREIGHT BY PRINCIPAL COMMODITIES-1960 AND 1959
INCREASE + OR1960 1959 DECREASE shyCOMMODITIES
TONS CARRIED
PERCENT OF TOTAL
TONS CARRIED
PERCENT OF TOTAL TONS PERCENT
PRODUCTS OF AGRICULTURE Wheat Corn Batley and tye Oats shy
Flour meal and mill products Citrus fruits Other fruits fresh and frozen
1708445 1325050
763672 347413
1275613 39049
123945
45 35 20
9 33
1
3
1653685 1281473
738948 298327
1242503 59289
135892
41 32 18 7
31 2 3
+ + + + + --
54760 43577 24724 49086 33110 20240 11947
33 34 33
165 27
341 88
Potatoes other than sweet 0 0 bull 229982 6 264312 7 - 34330 130 Other vegetables fresh and frozen Sugar beets Other products of agriculture
115520 213813
1588516
3
6 41
126388 191132
1480059
3
5 37
-+ +
10868 22681
108457
86 119
73 Total 7731018 202 7472008 186 + 259010 35
ANIMALS AND PRODUCTS Cattle calves sheep and goats 171861 4 198623 5 - 26762 135 Swine 21999 1 33892 1 - 11893 351 Fresh meats 386670 10 427610 10 - 40940 96 Poultry eggs butter and cheese 113551 3 128422 3 - 14871 116 Wool hides and leather 153604 4 161264 4 - 7660 47 Other animals and products 268968 7 265237 7 + 3731 14
Total 1116653 29 1215048 30 - 98395 81
PRODUCTS OF MINES Bituminous coal 4862060 127 5447866 136 - 585806 108 Coke 257305 6 296121 7 - 38816 131 Ores and concentrates Gravel and sand
462461 916755
12 24
385162 1166550
10 29
+ -
77299 249795
201 214
Stone broken ground or crushed Stone rough and finished Asphalt
1291164 77997
195521
34 2 5
1192897 71099
234070
30 2 6
+ + -
98267 6898
38549
82 97
165 Salt 148276 4 165384 4 - 17108 103 Other products of miles 1138894 30 1154731 28 - 15837 14
Total 9350433 244 10113880 252 - 763447 75
PRODUCTS OF FORESTS Logs posts poles and cordwood 1290191 34 1604736 40 - 314545 196 Pulpwood 1028793 27 966773 24 + 62020 64 Lumber and mill products 1845337 48 2434155 61 - 588818 242 Veneer and builtup wood 467827 12 520054 13 - 52227 100 Other products of forests 376413 10 259064 6 + 117349 453
Total 5008561 131 5784782 144 - 776221 134
MANUFACTURES AND MISCELLANEOUS Refined ~etroleum and products 1175165 31 1258601 31 - 83436 66 Sugar ta Ie syrups and molasses Iron and steellroducts
304542 2251993
8 59
293861 2299049
7 57
+ -
10681 47056
36 20
Machinery an boilers 222962 6 230072 6 - 7110 31 Cement Brick building tile and artificial stone
1242018 191608
32 5
1152635 199113
29 5
+ -
89383 7505
78 38
lime and plaster 73696 2 81785 2 - 8089 99 Agricultural implements traCtors and parts 155626 4 206217 5 - 50591 245 Autos trucks parts and tires Beverages
745090 599592
19 16
685152 613561
17 15
+ -
59938 13969
87 23
Ice 32950 1 31716 1 + 1234 39 Fertilizers Paper and paper products
590481 1191363
15 31
535770 1200754
13 30
+ -
54711 9391
102 8
Canned food Jroducts 985346 26 997315 25 - 11969 12 Scrap iron an scrap steel 598594 15 758925 19 - 160331 211 Building paper roofing and woodwork 434465 11 460040 12 - 25575 56 Other manufactures and miscellaneous 4165926 109 4435508 110 - 269582 61
Total 14961417 390 15440074 384 - 478657 31
GRAND TOTAL CARLOAD TRAFFIC 38168082 996 40025792 996 - 1857710 46
ALL lCl FREIGHT 137486 4 173602 4 - 36116 208
GRAND TOTAL CARLOAD AND lCi TRAFFIC 38305568 1000 40199394 1000 - 1893826 47
32
ANNUAL REPORT FOR 1960
NUMBER OF EMPLOYEES AND COMPENSATION
REGULAR EMPLOYEES TOTAL COMPENSATION ALL EMPLOYEES PART TIME
EMPLOYEES CHARGED ToAVERAGE CoMPENSATION
YEAR Noop
EMPLOYEES (MIDDLE
OP MONTH COUNT)
CoMPENSATION
AVERAGE COMPENSATION
PER EMPLOYEE
(NOT SUBJECT TO
CONTINUING AUTHORITY
OP RAILROAD)
TOTAL COMPENSATION OPERATING
EXPENSES
ADDITIONS AND
BETTERMENTS AND OTHER ACCOUNTS
1928 48129 $ 81744769 $1698 $135855 $ 81880624 $ 75548543 $ 6332081 1933 26493 39042823 1474 129469 39172292 36740362 2431930 1938 28988 52830262 1822 100092 52930354 48224635 4705719 1943 35377 90305409 2553 145093 90450502 84109945 6340557 1948 38268 138490345 3619 172016 138662361 126543269 12119092 1950 33668 128201025 3808 167342 128368367 121226784 7141583 1951 33846 143260363 4233 219693 143480056 134493624 8986432 1952 32550 145397263 4467 149515 145546778 138390501 7156277 1953 31138 138117562 4436 145500 138263062 131304863 6958199 1954 27961 126272397 4516 143400 126415797 120564532 5851265 1955 27936 126447937 4526 139330 126587267 120732130 5855137 1956 27408 134534522 4909 123452 134657974 126936601 7721373 1957 26007 133239878 5123 117455 133357333 125221025 8136308 1958 23402 128237334 5480 119269 128356603 123103272 5253331 1959 middotmiddot 22243 128292584 5767 107083 128399667 122031078 6368589 1960 20229 121037664 5983 98143 121135807 114993442 6142365
NUMBER OF EMPLOYEES AND COMPENSATION BY STATES
REGULAR EMPLOYEES PART TIME TOTAL
AVERAGE EMPLOYEES COMPENSATIONSTATE
AVERAGE TOTAL CoMPENSATION TOTAL ALL NUMBER COMPENSATION PER COMPENSATION EMPLOYEES
EMPLOYEE
Illinois bull 5977 $ 35954281 $6015 $18179 $ 35972460 Iowa 2062 12410458 6019 5105 12415563 Wisconsin bull 5272 30334008 5754 21200 30355208 Minnesota 2446 14392068 5884 8726 14400794
122 906621 7431 0 906621~~~~~fmiddotmiddotmiddotmiddotmiddot 346 2035311 5882 10780 2046091 Indiana 289 1726773 5975 9180 1735953 South Dakota 902 5244002 5814 180 5244182 North Dakota bullbull 98 524782 5355 2599 527381 Moncana bull 1060 6740641 6359 22074 6762715 Idaho 94 574143 6108 0 574143 Washington 1412 9145616 6477 120 9145736 All otherbullbullbullbullbull 149 1048960 7040 0 1048960
Total 20229 $121037664 $5983 $98143 $121135807
TOTAL PAYROLLS AND COMPANY CONTRIBUTIONS AVERAGE PER EMPLOYEE
COMPANY CoNTRIBUTIONS STRAIGHT TIME RATETOTAL AVERAGE
PAYROLLSshyYEAR RETIREMENT AND HEALTH AND TOTAL PER AVERAGE INCREGULAR
UNEMPLOYMENT WELPARE EMPLOYEE PER OVEREMPLOYEES TAXES BENEFITS HOUR 1939
1950 $128201025 $7234363 $135435388 $4023 $1580 1179 1951 143260363 7774582 151034945 4463 1754 1419 1952 145397263 7696578 153093841 4703 1852 1554 1953 138117562 7441326 145558888 4675 1895 1614 1954 126272397 7035232 133307629 4768 1945 1683 1955 126447937 7276300 $ 624381 134348618 4809 1959 1702 1956 134534522 8581092 1403449 144519063 5273 2130 1938 1957 133239878 8692650 2106181 144038709 5538 2290 2159 1958 128237334 8420346 1934613 138592293 5922 2465 2400 1959 128292584 9894538 1819163 140006285 6294 2566 2539 1960 121037664 9969699 1646241 132653604 6558 2638 2639
33
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
EQUIPMENT OWNED
ALL OTHBR DBCBMBBR 31 1960 JAN 1 ADDBD INCLUDING
1960 RBTIRBD(NBW) RBCLIISSImiddot NUMBBR FICIITIONS NUMBBR CAPAOrr
LOCOMOTIVBS Tractive Pwr
DIBSBLmiddotELBCTRIC (UNITS) Freight Passenger Multiple purpose Switching
163 83
281 286
- 2 3 + 2
1 middot
161 82
280 286
(Pounds)
9724119 4854420
17452411 16967475
ELBCTRIC (UNITS) Freight Passenger Switching
84 10 4
middot
+ 1 - 1
85 9 4
5392650 834022 179375
TOTAL bullbull 911 middot 4 907 55404472
Tons 25285 550 1578 + 1 24258 1177215
8569 25 335 + 68 8327 475250 4578 100 13 + 1 4666 265080
846 middot 54 + 50 842 58940 794 middot 794 55580
3188 middot 40 3148 125910 3739 100 122 - 54 3663 189220
635 202 +200 633 29785 6 1 5 250
472 7 465 48112 775 2352 +266 46801
PASSBNGBR CARS PassengeJS Coaches 305 305 22203 Sleepers 56 15 41 1054 Pador 14 14 530 Parlor cafe 4 4 160 Dining 31 31 1451 Tap lounge and observation 12 12 1064 Baggage express and mailbull 301 8 293 Passenger and baggage 12 2 10 328 Passenger mail and baggage 4 2 2 48 Rail motot cars 2 2
TOTALbullbull 741 27 714 26838
COMPANY SBRVICB EQUIPMENT
Business cars 10 10 Ballast and dumpcars 86 86 Derrick cars 18 18 Boarding outfit cars 362 34 + 1 329 Snow removing cars 138 1 137 Other company service eqnipment 1297 118 + 75 1254
TOTALbullbull 1911 153 + 76 1834
FLOATING EQUIPMBNT
Car floats 4 4
HIGHWAY VBHlCLBS
Passenger automobiles 199 31 32 198 Trucksbull 413 38 37 414 Otherbull 156 2 10 148
TOTAL 768 71 79 760
LBDGBR V ALUB INCRBASB OR
DECBMBBR 31 1960 DBCBMBER 31 1959 DBCRBASB
Locomotives $124307862 $124658042 DEC $ 350180 Freight cars 176524664 169559340 INC 6965324 Passenger cars 31110939 31348424 DEC 237485 Work equipment 6763815 6893714 DEC 129899 Floating equipmenr 278731 278731 Miscellaneous equipment 2387452 2333999 INC 53453
TOTAL $341373463 $335072250 INC $6301213
RebuiIt
34
ANNUAL REPORT FOR 1960
MILWAUKEE LAND COMPANY INCOME ACCOUNT
1960 1959 INCREASE DECREASE INCOME
TOWNSITE DIVISION SALES
Real estate $ 35060 $ 77376 - $ 42316 (20884) (58838) (37954)Cost of real estate sold -------~-I-----____=_-I------I---=-~___shy
GROSS PROFIT FROM SALES 14176 18538 4362 OTHER INCOME
Rents 56137 32215 $ 23922 Interest 25397 34008 8611 Separately operated properties 83200 83200 bullbullbullbullbullbullbull 0 bullbullbullbullbullbull
(1237) All other I ~~~~II__~~~_I~~~~~~I--~~~_2556 3793 163497 68779 94718 TOTAL OTHER INCOME I-----c----I------I
TOTAL INCOME-ToWNSITE DIVISION 177673 87317 90356 TIMBER DIVISION
SALES Timber land and timber 1110822 2014088 903266bullbullbullbullbullbullbullbullbullbullbull 0
Cost of land and timber sold (75732) (129539) (53807) GROSS PROFIT FROM SALES 1035090 1884549 - 849459
OTHER INCOME Rents and royalties 22354 13786 8568 Interest 16207 19328 3121 All other 3796 3796
42357 33114 9243 bullbullbullbullbullbullbullbullbullbullbullbullbull 0TOTAL OTHER INCOME J----=~=-I--------c---=--I---------I---------shyTOTAL INCOME-TIMBER DIVISION 1077447 1917663 840216
1255120 2004980 749860TOTAL INCOME-TOWNSITE AND TIMBER DIVISIONS 1--------------1-----7--7-1------1-----=-----shy
EXPENSES TOWNSITE DIVISION
Salaries and office expenses 8898 8459 439 Taxes 29914 25053 4861 00 Interest 64044 64044 Separately operated properties 53106 53106
23771 12610 11161 All other 1---~~~--I--~~77-I--_7~~-I~~~~~~ TOTAL EXPENSES-ToWNSITE DIVISION 179733 110166 69567
TIMBER DIVISION Salaries and office expenses 54978 55040 62 Real estate expense 35938 59418 23480 Timber curring contracts expense 50312 42931 7381 FlIe protection 22907 23221 314 Taxes 327333 489237 161904 Interest 95076 95076 All other 5464 9518 4054I----=~~-li---~~~-I~~~~~~I--~~~shy
TOTAL EXPBNSES-TIMBBR DIVISION 592008 774441 182433 771741 884607 112866TOTAL EXPENSES-ToWNSITE AND TIMBER DIVISIONS 1--------I---~-f------I--------Imiddot---7__~shy
NET INCOME $ 483379 $1120373 $ 636994
MILWAUKEE LAND COMPANY STATEMENT OF RETAINED INCOME
1960 1959 INCREASE DECREASE
Balance at January 1 $1649792 $1978906 $ 329114
ADDITIONS Net income for the year 483379 1120373 636994 Miscellaneous credits 100195 60537 $ 39658 1---=----77-I-------------I------=----I----~~~
2233366 3159816 926450 DEDUCTIONS
Dividends declared 400000 1500000 1100000 Miscellaneous debits 3328 10024 66961-----~-I---=-___-7--I------~--I----_s~shy
403328 1510024 1106696 BALANCE AT DECEMBBR 31 $1830038 $1649792 $ 180246
( ) Denotes reverse items
35
CHICAGO MILWAUKEE ST PAUL AND PACIFIC RAILROAD COMPANY
MILWAUKEE LAND COMPANY-BALANCE SHEET
DECEMBER 31 DECEMBER 31 CHANGE 1960 1959 DURING YEAR
ASSETS
CURRENT ASSETS Cash United States Government secutities Accouncs teceivable Notes and purchase concracts
100088 73944
$ 405146 $ 536904 300000 98526 57864
--++
$131758 300000
1562 16080
Interest receivable Separately operated propercies
13682 18094
57132 - +
43450 18094
1------1------1-----shyTOTAL CURRENT ASSETS 610954 1050426 439472
INVESTMENTS Capital srocks 1725 1725 C M Sc P amp P R R Co morrgage bonds 450000 - 450000 Blagen Timber Co morrgage notes 169000 + 169000
TOTAL INVESTMENTS 170725 451725 - 281000
OTHER ASSETS AND DEFERRED CHARGES Timber sale contracts 2160 3250 - 1090 Notes and purchase concraces (noncurrenc) 432968 697529 - 264561 Earnest money deposits on land purchases 200640 357900 - 157260 Other assets 1238 5092 - 3854
TOTAL OTHER ASSETS AND DEFERRED CHARGES 637006 1063771 - 426765
PROPERTIES Timber land and timber 1763656 1692492 + 71164 Real estate buildings and equipmenc 3614094 2178482 + 1435612 Auromobiles less accrued depreciation 10082 9356 + 726 Furniture and fixtures less accrued depreciation 945 1154 - 209
TOTAL PROPERTIES 5388777 3881484 + 1507293
TOTAL ASSETS $6807462 $6447406 +$ 360056
LIABILITIES AND SHAREHOLDERS EQUITY
CURRENT LIABILITIES Accouncs payable $ 205876 $ 168436 + $ 37440 Incerest payable 92820 92820 Unmarured dividends declared 200000 750000 - 550000 Federal income taxes 160000 300000 - 140000 Other taxes 60674 64848 - 4174
TOTAL CURRENT LIABILITIES 719370 1376104 - 656734
OTHER LIABILITIES AND DEFERRED CREDITS Note payable-C M St P amp P R R Co 2652000 2652000 Advances-c M St P amp P R R Co 905640 + 905640 Advances on coal leases and cutting contracts 197136 266014 - 68878 Other liabilities 3278 3496 - 218
1------1------1-----shyTOTAL OTHER LIABILITIES AND DEFERRED CREDITS 3758054 2921510 836544+
SHAREHOLDERS EQUITY Capital srock
Common srock-par value $100 per share Authorized-5OOO shares Issued and outstanding-5000 shares 500000 500000 -
Retained income 1830038 1649792 180246+ TOTAL SHAREHOLDERS EQUITY 2330038 2149792 + 180246
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $6807462 $6447406 + $360056
36
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