locked Re: Cleaning out the accounting books

Bill Schafer


Those who live in glass houses . . .😜


Another iPhone-generated message

On Dec 23, 2019, at 14:23, rwbrv4 via Groups.Io <Rwbrv4@...> wrote:

Oh my, I just realized that went out to a group, and not the SRHA group.
Sorry folks.

-----Original Message-----
From: Bill Schafer <bill4501@...>
To: main <main@southernrailway.groups.io>
Sent: Mon, Dec 23, 2019 2:20 pm
Subject: Re: [SouthernRailway] Cleaning out the accounting books

Excellent explanation. I expect those wood boxcars were nearly all ghosts. I remember when I was in the training program in Greensboro the mechanical Dept used a wood boxcar - sans trucks, in the weeds behind the rip track - as a storage room. The genl fman told me it had been years since he had seen one in service, MOOW. That was 1971. 


Another iPhone-generated message

On Dec 23, 2019, at 13:08, Kevin Centers <klcenters@...> wrote:


We refer to cars that still have an accounting record but do not physically exist as ghost cars.  They have soul, but their mortal bodies have left this earth. Movement records are generally researched by Mechanical and Equipment Planning, and if a car is found to not be moving, field personnel try to find it. If it can’t be found it is recommended for retirement as a ghost. 
To do a little more of a dive into boring accounting, Capital Accounting processes the retirements without salvage.  As you may or may not be aware, under group depreciation, an asset generates depreciation expense until it is retired, regardless of its intended life. As a result, it is important to get non-existent assets off the books to avoid overstating expenses and understating net income. This situation can also cause some concern during depreciation study time if there is a large number of ghosts. Fortunately, we only have a handful nowadays. During the Conrail acquisition, though, it was very common to see large numbers of cars being retired as ghosts since CR’s records weren’t that good at times. 


On Dec 23, 2019, at 12:16 PM, George Eichelberger <geichelberger@...> wrote:

The project to record data on Southern Railway rolling stock has been continuing for more than 20 years. The project's spread sheets include more than 300,000 entries (when cars and locos were acquired, rebuilt, modified and scrapped). Sometimes, an entry in the SR records will say something like "car interchanged to Mexico, never returned" other entries will have no idea what became of the equipment.

We recently found information on thousands more freight and passenger car dispositions (approvals to retire and scrap) in Presidents' file boxes 579 and 580. A July 10, 1972 memo to Graham Claytor recommending retirement for 31 40-ton wood sheathed box cars (attached) is unusual. The Southern accounting or audit folks must have wanted to clear their books?

<1972-7-10 31 40T wood sheathed box cars cars recommended for reirement _cannot be found_ Pg 1.jpg>

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