Daily Kennebec journal., 1873-07-17
R1uR0ADS OFTHE UNITED STA TEi

n
interesting and valuable summary OF the
workings Of this colossal interest for the
mast year. 1t shows 67,1o4 miles OF rail-
road to be in operation, Of which 6,421
miles were opened the past year, and 33.-
es4. or more than one-half, since 1868.
Extended statements of the cost. earnings,
expenses, &C., of 426 different companies
are given. embracing 81 1923 miles OF line
the balance of the mileage, 1881 miles
being made up Of roads only recently OF
partially completed, and which, conse-
quently, made no returns OF their opera,
tions. The cost of the mileage (57'3z3
miles) of the roads whose operations are
given, is $3. 159, 423, ,O57, made up OF 81
647.s44,11 share capital, and sl,5ll,3'o'-
944 of various forms Of indebtedness.
Their carnings-of which sl32,U9,27o
were received for transportation of passen-
gers, and $40. .93l,7s5 for freight
amounted to $473,241 ,05j, being fifteen
pcr cent. on the whole investment. The
operating expenses for the year were s3o1,-
4s6, ,682, or sixty-fve per cent. of the gross
receipts. The net earnings were $780,
754,s73, or thirty-fve per cent. OF the gross
receipts, equaling 5.2 per cent. OF the
whole investment. The cost of the roads
averaged s5j,ll6 per mile; their earnings
&s,e56 per mile, and sll 76 per head OF
population, estimated at 40, 232, 900.
The earnings of the roads OF the differ
ent sections, of course, differed greatly.
the most productive roads being those OF
the six New England States, the earnings
of which, the past year, were StS, ,5l9.S35.
or 22.l0 per cent. on cost of $3.50, 500,
794. The cost per mile Of the roads o.
j74 miles) was S50,4lS; the earnings per
mile, SIC. $50; the earnings per head OF
population, estimated at 1856 900. Sl3 53.
The number of inhabitants to each mile of
road was 109.
The cost OF the / l,6l7 miles OF road in
operation in the six Middle States equaled
1922, ,70O.774, or $79,427 per mile. Their
earnings were Sl69, ,205,702, Or 80 per
cent. OF their cost. The earnings per mile
were $l4;565. and sl5 Sc per head of pop
ulation. The number Of inhabitants tt
each mile of road was 792.
For the ten Western States aud their con
tiguous territories, the cost of the 2s,77'
miles Of railroad in operation was 2l,472,
625, ,232, or $50, $50 per mile. Their earn
ings equaled $l93,S26, ,25s, or 1910 pc
cent. of the cost. Their earnings pei
mile were $6.735; per head Of population
Sl3.76. The number of inhabitants to thu
mile Of road was 400.
The earnings of the railroads of the New
England States were 21.1o per cent. of tn
gross cost those Of the Middle States SO
and those of the Western State 1910 pc
cent. The comparatively unfavorable re
suit for the West is due simply to an eN
cess of mileage to population. Should n
more roads be constructed there for tn
next five years, the investment woul
probably show rs well in the Yves, as j
the East.
The population OF the United States
now increasing at the rate of ! 900, 900 al
nually. The greater portion of this il
crease is in the West, where it amounts
100000 annually. No considerable eX
tent OF line should he built there for tn
next hve years, although il is probabl
that considerable extent will be con
structed, "a railways, no matter what ma
be the return on their cost. will be con
structed until they everywhere become tn
highways of the country.
The excessive mileage in the Wester
States has arisen very largely from the a,
lion of leading railways in that section
prompted by spirit of competition, an
probably in many cases by the opportur
ties il afforded to rings inside the boar
Of direction to make money by an int,
est In contracts Tor construction IN su
plying materials, or in negotiating secu
ties for the new lines. Among the col
panies that have sinned most in the co
struction Of uncalled-for and unprodt
tive branches, is the Chicago and Nor
Western. This company has increased
mileage to nearly if not quite 1900 mile
the cost Of which, capitalizing leas'
roads, cannot be less than 800, 900, 90
The earnings Of this vast sum only equal,
about eleven per cent, or tour per cen
less than the average for the who
country. While immense additions to III
mileage have been going On, the earning
OF the concern were actually less the pa,
year than In 1868. The Milwaukee an
st. Paul have not been much behind in thl
vicious system ef seeking for business a
over the West. while the adoption of son,
OF the worthless branches which are no,
incorporated in its main line can by n
means be accounted for simply by a mi
take Of judgment. The Michigan Ce:
trail Railroad has been obliged to fores
its customary dividends. its earnings ba
ing been exhausted in supporting its wea
er branch lines. Even the Chicago, Bu
Jington and Quincy has, through the sar