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| Re: Should the city take back its buses and subways? (1507092) | |||
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Re: Should the city take back its buses and subways? |
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Posted by Stephen Bauman on Fri Mar 15 18:22:03 2019, in response to Re: Should the city take back its buses and subways?, posted by William A. Padron on Fri Mar 15 14:36:35 2019. When during the IND's early years of operation, and with the five cent fare, it was costing the BoT fourteen cents per riding passenger, thus losing nine cents.Sounds like a good story. If one looks at the 1941-1945 BOT report (available on the web), the income statement tells a different story. Between 1941 and 1945, the revenues from passenger and freight operations exceeded the operating costs by quite a bit. In 1945, passenger and freight revenues were: $717M and $317M respectively, Operating expenses were $886M. The total passenger and freight revenues were $1.034B and the surplus was $148M. There was additional income advertising and rents that brought total revenues up to $1.268B. The operating expenses included: maintenance of way and structures; maintenance of equipment; depreciation; power; operation of cars; injuries and damages expended; injuries and damages reserved; general and miscellaneous; and operating rentals. The results were similar for the years 1941 through 1944. |
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