A Report Upon the Proposal of the Philadelphia Rapid Transit Company for the Equipment and Operation of City-Built, High-Speed Lines, as Embodied inby Philadelphia Dept of City Transit
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 Excerpt: ...conditions and other factors, all now unknowable. The base estimate from which all other figures must be derived is the estimate of the gross earnings year by year, and hence great care must be used to insure that Electric Railway Journal, March 17, 1917, page 496. whatever probable error exists in the estimate shall be on the safe or conservative side. The company has not supplied the Department with any official estimate of future gross earnings on the basis of the unified system. Consulting Engineers' Estimates of the Financial Results of Operation. The report of the Consulting Engineers, Messrs. Ford, Bacon and Davis, herewith attached as Appendix "A," contains two estimates of the financial results of operation designated as Estimate "A" and Estimate "B." Estimate "A" is based on a conservative and probable rate of growth in population and riding habit predicated on statistics of the past twenty years. Estimate "B" has been reached by estimating the gross revenue from the rate of increase in the immediate past. Estimates of Gross Revenue. Upon the fundamental estimate of gross revenue all other estimates rest. The estimates of gross revenue as made by the Consulting Engineers is based on the following formula: Passenger Revenue per Year = Population X Number of Revenue Rides per Capita per Year X Average Fare. Thus, for the year to June 30, 1916, the gross revenue of the company appears as follows: $24,871,000=1,792,000 X 271.6 X $0.06163. In these estimates the fare is assumed as fixed at a flat 5 cents, with universal free transfers, and an allowance is made for miscellaneous earnings. The variable factors in this formula are the population and the riding habit of the people. This recent rate has aver...