Adams Express Company 48,602
American Express Company 73,289
Southern Express Company 34,918
Wells-Fargo and Company 115,521
All others 35,070
Cost of Land, Buildings and
Equipment on January 1, 1918 $44,160,773
Land and Buildings 20,811,830
Equipment 23,348,943
Inventory Value of Equipment
owned on January 1, 1918 $13,735,058
Total Express Charges $222,860,373
Other Operating Revenue 6,594,815
------------
Total $229,455,188
Operating and Other Expenses $229,639,493
_Deficit from Operating_ 184,305
Other Income 4,471,292
Gross Income 4,286,987
Deductions from Gross Income 1,538,481
------------
Net Income $2,748,406
Dividends 2,508,044
Profit and Loss Balance $24,294,792
Total Investment, Including
Real Property and Equipment $123,484,515
Capital Stock $59,008,600
Funded Debt Unmatured 20,736,500
Money Orders Issued:
Number 16,035,002
Amount $145,934,982
C. O. D. Checks Issued:
Number 8,612,106
Amount $143,832,226
Limited and Unlimited Checks Issued:
Number 236,071
Amount $108,798,279
Telegraph and Cable Transfers:
Number 88,146
Amount $136,809,746
Travelers' Checks Issued:
Number 1,608,037
Amount $34,923,816
Letters of Credit Issued:[1]
Number 1,539
Amount $4,126,154
Revenue from the above six items and other
sources, other than Express Charges $6,594,815
Maintenance Expenses $6,527,766
Traffic Expenses 925,033
Transportation Expenses $98,583,724
(Employees' Wages) (55,820,701)
General Expenses 7,684,534
(Salaries and Personal Expenses) (4,161,299)
[Footnote 1: Including 569 Postal remittances to the amount of
$39,435, issued by the Canadian Express Company.]
NOTE:--Of the above figures the Adams, American, Southern and
Wells-Fargo Companies accounted for 89% of the mileage and for
94% of the total operating revenues.
One feature of the above figures stands out pre-eminent. With a capital
stock of $59,000,000 and a funded debt of $21,000,000, the express
companies performed express operations bringing in an annual revenue of
$223,000,000. (Of this latter sum, one-half went to the railroad,
steamship and stage lines for transporting the packages entrusted to
their care by the express companies.) On January 1, 1918, the cost of
the land and buildings owned by the express companies was slightly more
than $20,000,000 and of the equipment slightly more than $23,000,000. It
is therefore immediately evident that the most valuable asset of the
express companies is to be found, not in their tangible property, but in
their contracts with the various railroad companies giving them the
exclusive right to have their packages transported by the railroads on
passenger trains--in a sense, their charters.