The matter of rentals may now be considered. “The extent of the reduction in rentals from reorganization,” says one authority,[716] “is seen where the reduction of this item of fixed charges for the entire country is considered. The net reduction in lease rentals from 1892 to 1898 was $24,527,000, and of this sum $17,768,000 appears in the South and West where the failures where most numerous and extensive. The reductions of rentals are most conspicuous in the Northwest and Pacific coast railroads. It is true that a part of this decrease in rentals is to be ascribed to the steady movement in the direction of consolidation which is constantly converting lease into purchase; but coming so close together, the difference between the figures of 1892 and those of 1898 is sufficiently marked to warrant the conclusion that most of the reduction is due to the numerous reorganizations which intervened.” This conclusion is at first sight borne out by the following tables, which show the decreases or increases in absolute rentals and interest for thirteen reorganizations, of which six fall within the period covered by the quotation: KEY: _D_: _Decrease_ _I_: _Increase_ FIXED CHARGES _Six Reorganizations, 1893–8_ _Interest_ _Rentals, etc._ _Total Charges_ _D_ _I_ _D_ _I_ _D_ _I_ Atchison 40.6 13.7 31.1 B. & O. 19.7 77.2 11.7 Erie 33.3 62.7 5.9 N. Pac. 14.2 88.9 51.0 Reading 20.8 U. Pac. 21.8 78.2 43.7 Average ---- ---- ---- decrease 4.7 58.8 25.7 _Six Reorganizations before 1893_ Atchison, ’89 39.0 17.3 34.9 Atchison, ’92 38.7 3.9 31.0 Erie, ’75 13.4 .5 11.0 Reading, ’80 15.9 98.1 49.1 Reading, ’83 13.3 .6 7.9 Rk. I., ’80 11.9 25.2 16.3 Average ---- ---- ---- ---- ---- ---- decrease 1.0 9.9 5.3 _One Reorganization, 1902_ Rk. I. ’02 139.0 29.0 119.3[717]