The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-01-24

expense OF railroads under this head.
The superstructxre of Of the eArliec OF the
modern railroads made BY placing thH nat bar OF
IRON ON longitudinal timbers, which rested stone
blocks, protected from displacement BY frost by fitting
the trenches below them with small broken stone. In
sills.
The rst change made was the substitution of bars OF
greater thickness then succeeded Via rail Of nearly
the present form, weighing fifty pounds per laeal yard
resting longitudinal siils subseesenty, the weight
Of the iron rail successivey Increased I, sixty,
seventy and seventyave pounds cross ties we're used
sis removed, and gravel balsating substituted
The hrst used coach bodies Of the ordinary
| form placed four-wheeled frames; Afterwards the
bodies were enlarged the form changed and finally
the bodies adapted to contain sixty passengers,
bodies so as to permit them separately to adapt them
selves to the curves and inequalities OF the track
The motive power at FIRST was horses, and on steep
| inclipstions stationary steam power.
The first used weighed but six tons,
these have been successfully increased to ten six
teep twenty and twenty six tons, while on some OF the
freghtiDg roads engines Of forty tons weight (ncludng
the tenders) have been intro iuced.
The foregoing list Of changes shows how imperfecta
machine the railroad when many OF them Ia this
country first commenced, and how oany radical
changes have seen necessary in the construction OF their
The present state of perfection in the machine rem
ers it proba substitution its important
and expensive parts will annually become rare but yet
it may be saey assumed that some expenses OF this
character will continue 70 accrue and must be provided
for in estimating the cost Of railroads their value
The experiences OF some of the older railroads for
considerable period proves that the sttutoc OF the
character mentioned have cost equal TO from
to two per cent per annum on the original cost Of the
road.
The interests which call for the protection of the gov
| eminent are
ton and management of railroads., and in their adapta
ton TO convenient and economical for travel and
trade
Second That OF the stock bondholders the f.h-
full application Of their investments and the management
| Of their property.
Much injury has been caused to both Of these inter
by the detective construction and pre- open
ing of many of railroads. The most serious acct
dents, involving the destruction of both life and pro-
perty, have been caused by opening them for public
travel before they have been fully completed when
they have been imperiectly built. The public have
OF ascerainlng the condition OF these works. and
compelled to leopard their lives and property upon
them without any assurance that their safety been
provided By and vehicles su Gent
rules and precautions, and judcous and experienced
Before any road is used by public should be sub
ecec in all its parts to the careful examination OF some
responsible puoic officer, who should also determ
whether proper provisions and regulations had been
established to prevent accidents.
Under the head the power Of supervision
and examination by public officers should be given
those which extended other corporations,
and authority 10 compel the publication OF full and
authentic statements of their condition aud operations
The present depreciation In the rail interest may
be chiefly attributed to the di nished rates Of fares
and the increased expenditures for operating and enlag
ing the WORKS.
The charges Tor transportation have been reduced to
the present low rates from mistaken opinion that it
was necessary to show to the pubi large receipts to
accomplish which it to enter into com
petition with rival roads and water lines, which
carried to an injurious extent in consequence OF the fall
lacious statements of the expenses Of transportation
| which the Published reports exhibited
These REPORTS by exaggeratng the net profits Of the
business have prevented the managers they
discovered the error from increasing their charges to
compromising rates by the fear OF public opinion and
| legislative interference.
Upon any given line Of railroad there is a certlin
amount Of trav. and feigh, which would in any event.
be transported by it in preference to the water lines
In almost every case the capacity OF well equipped
single track road provided with frequent passing places
fap h4A utnia
for the performance Of this legitimate business, Which,
if economically conducted, would yield tue minimum
profit which could be earned, and would in most cases,
be ample to either i'm mediate early
ftable return for the investment.
To divert from other any of this class OF bust
requires reduction in the charges, which must
necessarily be extended further than merely to that por
ton which is diverted and the rate OF cost Of doing
the business be materially diminished, this
ducton in the charges, is taken directly from the
sness 10 Weld the same amount Of profit az was afford
| ed before any reduction 10 the charge was made.
This redo ction is sometimes continued until profit
| whatever 10 realized.
The rival road from which the business is thus divert
ed will soon reduce its charges for the purpose OF re-
claiming its business, and feelings Of rivalry will thus
be engendered, which wi II continue the competition
| til the rates become evidently unrsmuneraive that
conventions must be held to terminate the controversy
and establish equitable prices ami conditions each
pany will then only be restored to its original position
with the disadvantage of having, in the meantime, per-
susded the public that the 10 prices sufficient
| remuneratiye.
The alleged necessity Of showing large receipts stin
ed from rival roads beng abandoned competition with
the water lines is commenced for the transportation Of
the heavy and cheap articles of freight which only
be maintained by rates nearly quite low those
charged upon the akes rivers aud canals and too low
will presently be shown, to give fair remuneration
| to the railroads.
If Of railroad transportation could be deter
mined with toerable accuracy by dsnerested and
official authority it would be great step taken to-
wards the correction OF Of the most serious evils to
| winch allusion has been made.
The sophstry OF the argument that 1t is ever the true
interest Of the stockholders to increase receipts by
rying any portion Of the business under cost, is too
palpable to merit discussion. The public will always
| look with distrust upon the management which main
| tans 30 falacous q doctrine.
The returns Of the railroad corporations show con-
tinued large additions every year TO the construction
account of oldest and best built roads The
ported ncvease of cost during the past chiefly in
of extension Of the double track larger
equipment and station facilities for the accommodation
! OF the increased freig hit traffic.
The increase OF the cost OF the road the New York
and Erie has been twenty per cent during the last two
years. and the Central It has been than twenty
| i've per cent during the same period.
The reported earnings and net earnings Of these roads
have increased BY much larger per sensase than the
cost Of the roads as stated while the
penses Of operating have increased BY about the
| per centage as the earnings.
The freight earnings have increased than the
passenger earnings but tho average receipts ton
mile have bee less this year than the preceding
pecay the Central road although the rates Of charge
have bee increased both roads, The
per ton per mile for the last year two and half
cents the Erie and little than three cents
the Central while the average the preceding year on
the latter was nearly three and one half cents The
freight tariff has been nearly alike each of these
roads for the last two years. il therefore evident that
the business of the Erie road larger portion
than that of the c. nra Of those articles which pay the
least rates and that the latter road has been performing
mach larger proper OF its business at low rates
| this year than formerly.
comparing the reported receipts expenses and bu
siness Of our three principal freighng roads, it viii be
hat the passenger business the Brie Is reported
giving net profit Of forty.seven per cent, with
average charge of and enths cents per passed.
ger per mile the Central net profit OF forty four
per cent and charge Of one and nine-tenths cents
and the Northern Railroad, q ret profit Of two per
cents passenger PER mile ~ and that the freight
business on the FIRST reported giving net profit Of
fifty one per cent, with average charge Of two aud
six tenths cents per ton per mile the second net