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At a General Session of the INTERSTATE COMMERCE COMMIS
SION, held at its office in Washington, D. C., on the ist day of June, 1908.
[Figures in brackets on right-hand side of pages indicate folios of original issue.]
The subject of a Uniform System of Accounts to be prescribed for and kept by carriers being under consideration, the following order was entered:
It is ordered, That the Classification of Operating Expenses for Express Companies and the text pertaining thereto, prepared under the direction of this Commission by Henry C. Adams, in charge of Statistics and Accounts, and embodied in printed form, to be hereafter known as First Issue, a copy of which is now before this Com. mission, be, and the same is hereby, approved; that a copy thereof duly authenticated by the secretary of the Commission be filed in its archives, and a second copy thereof, in like manner authenticated, in the office of the Division of Statistics and Accounts; and that each of said copies so authenticated and filed shall be deemed an original record thereof.
It is further ordered, That the said Classification of Operating Expenses, with the text pertaining thereto, be, and is hereby, prescribed for the use of express com. [5 panies, subject to the provisions of the act to regulate commerce, as amended June 29, 1906, in the keeping and recording of their operating expense accounts; that each and every such carrier and each and every receiver or operating trustee of any such carrier be required to keep all operating expense accounts in conformity therewith; and that a copy of said First Issue be sent to each and every such carrier and to each and every receiver or operating trustee of any such carrier.
It is further ordered, That the rules contained in said First Issue of the Classification of Operating Expenses are, and by virtue of this order do become, the lawful rules according to which the said operating expenses are defined; and that each and every person directly in charge of the accounts of any such carrier or of any receiver or operating trustee of any such carrier is hereby required to see to, and under the law is responsible for, the correct application of the said rules in the keeping and recording of the operating expense accounts of any such carrier; and that it shall be unlawful for any such carrier, or for any receiver or operating trustee of any such carrier, or for any person directly in charge of the accounts of any such carrier, or of any receiver or operating trustee of any such carrier to keep any account or record or memorandum of any operating expense item except in the manner and form in said First Issue set forth and hereby prescribed, and except as hereinafter authorized.
It is further ordered, That any such carrier or any receiver or operating trustee of any such carrier may subdivide any primary account in said First Issue established as may be required for the purposes of any such carrier or of any receiver or operating trustee of any such carrier;. or may make assignment of the amount charged to any such primary account to operating divisions, to its individual [6 lines, or to states: Provided, however, That a list of such subprimary accounts set up or such assignments made by any such carrier or by any receiver or operating trustee of any such carrier be first filed in the office of the Division of Statistics and Accounts of this Commission subject to disapproval by the Commission.
It is further ordered, That in order that the basis of comparison between the fiscal year ending June 30, 1909, and previous years be not destroyed, any such carrier or any receiver or operating trustee of any such carrier may, during the twelve months ending June 30, 1909, keep and maintain, in addition to the operating expense accounts hereby prescribed, such portion or portions of its present accounts with respect to operating expense items as may be deemed desirable by any such carrier, or by any receiver or operating trustee thereof, for the purposes of such comparison; or, during the same period, may maintain such groupings of the primary accounts hereby prescribed as may be desired for that purpose.
It is further ordered, That any such carrier or any receiver or operating trustee of any such carrier may, in addition to the operating expense accounts hereby prescribed, keep any temporary or experimental accounts the purpose of which is to develop the efficiency of operations: Provided, however, That such temporary of experimental accounts shall not impair the integrity of any general or primary account hereby prescribed; and that any such temporary or experimental accounts shall be open to inspection by the Commission.
It is further ordered, That July 1, 1908, be, and is hereby, fixed as the date od which said First Issue shall become effective.
Interstate Commerce Commission,
Washington, June 16, 1908. To Carriers Concerned:
This Classification of Operating Expenses for Express Companies, with the text pertaining thereto, is issued in accordance with an order of the Interstate Commerce Commission, a copy of which will be found immediately preceding this letter.
It may be proper to state in explanation of some of the accounting principles to which this Classification conforms, that it is the purpose of the Interstate Commerce Commission to secure a uniform system of accounts for all transportation agencies, so far as this may be done consistently with the different commercial and physical conditions that pertain to these several agencies. In two particulars this Classification makes quite important concessions to the current practice of express companies; thus, the accounting rule that rent is a proper charge to Income rather than to Operating Expenses is but loosely applied, and the use made of the annual inventory in the maintenance account is peculiar to this Classification. It seemed best in these cases, as also in certain minor questions, to permit the accounts to develop in the light of accumulated experience.
[9 It is hoped that Accounting Officers will correspond freely with the Division of Statistics and Accounts in case doubt should arise with regard to the correct interpretation of any account, since in no other way will it be possible to insure uniformity in the interpretation of the accounting rules here prescribed.
Henry C. Adams,
PRIMARY ACCOUNTS. 1. Maintenance 1. Superintendence...
13 2. Buildings, Fixtures, and Grounds.
14 3. Office Equipment.
16 4. Cars-Repairs. 5. Cars-Renewals.
17 6. Cars--Depreciation.
17 7. Horses.
18 8. Vehicles-Repairs.
18 9. Vehicles-Renewals.
18 10. Stable Equipment..:
19 11. Transportation Equipment.
19 12. Other Expenses...
19 13. Maintaining Joint Facilities-Dr..
22 14. Maintaining Joint Facilities--Cr..
23 II. Traffic Expenses15. Superintendence..
23 16. Outside Agencies.
24 17. Advertising..
24 18. Traffic Associations.
24 19. Stationery and Printing.
25 20. Other Expenses...
(11 III. Transportation Expenses21. Superintendence..
26 22. Office Employees.
26 23. Commissions....
26 24. Wagon Employees.
27 25. Office Supplies and Expenses.
27 26. Rent of Local Offices.
28 27. Stable Employees...
28 28. Stable Supplies and Expenses.
28 29. Train Employees... 30. Train Supplies and Expenses.
29 31. Transfer Employees..
29 32. Transfer Expenses..
30 33. Stationery and Printing.
30 34. Loss and Damage-Freight.
31 35. Logs and Damage-Money.
31 36. Damage to Property....
31 * Numbers refer to folios in brackets on right-hand side of pages, which are inserted to preserve page numbers of original issue.