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 existed. Omitting the bottom of the chart makes the dividends appear a smaller percentage of net earnings than they really were. Fig. 223 could have been considerably improved, also, if the line showing net earnings were made much heavier than it is seen in the illustration.

Union Pacific Railroad

Fig. 222. Passenger Service and Traffic on the Union Pacific Railroad and Auxiliary Companies

This chart shows by years the per cent of increase over the year ended June 30, 1898, in the gross revenue from the transportation of passengers, the number of passengers carried one mile, and the number of miles run by cars and locomotives in passenger-train service. Locomotive miles include revenue passenger-train miles, all mixed-train miles and helping passenger-train miles, but do not include miles run by motor cars

Here the reversed arrangement with the latest year at the top gives the erroneous impression that passenger business is decreasing. A chart like this does not assist greatly in conveying information to the stockholder

What figures for an annual report should always be shown in chart form to make comparisons most clear is hard to determine, but it will doubtless be agreed that, if possible, the charts should