Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-01-18
MASSACHUSETTS, RAlLRoADs.

WASSACuCSEIISR AILROADS.
The fourth annual report of the Massachu-
sets Railroad Commissioners states that at
the close Of the last railroad year, September
3Oth, 1872, there were belonging to railroad
corporations reporting to the commissioners,
2l9A.44 miles of main line and branches, with
524!S5 of sidngs, and 534 10 of double track,
equivalent in all to 1858 All of single tracks.
OF this amount l657.s7 miles were in the
State, or one mile of railroad to each 400
1000 square miles of territory, or to every S19
inhabitants. This proportion as regards
square miles is greater than anywhere else in
America, and not exceeded by the average
Of any country of Europe. Returns were re-
ceiyed during the year of SO corporations, but
really under sc boards of direction. The av-
erage cost of the roads has been ISL, $50 a
mile, exclusive of equipment, which has
amounted to S6s75 mile. The average cost
per mile of an equipped road is about $780,
900. The entire amount directly invested in
the railroads reporting to the board is in
round numbers, S135 900 900, represented by
ISL 900, 900 of stock and S54, 200, 900 of debt.
Of the '55 corporations making returns, 80
paid dividends ranging between two and ten
per cent, and average on the entire capital of
all the roads represented by stock 97lo0
per cent.
Nine corporations divided 10 per cent, two
divided per cent, seven divided less than G,
and twenty-five made no dividends. The
gross income of the roads during the year was
90 $40 per cent. of their entire cost, but the
cost of operation was 1872 per cent. of their
gross earnings, leaving an average net income
from the years doings of $40 per cent. on
the investment. This is believed to be as
large return on cost as is made by the rail-
road system Of any community, and much
larger than the average. The capital stock
Of these corporations appears to be owned by
about 1860 persons, the average amount
held by each of whom is $3.50; of the whole
number of stockholders "A per cent. are resi-
dents of Massachusetts, controlling GO per
cent of the entire capital stock, or an aggre-
gate of nearly S57 ,000, 900. The stock of the
several companies is held in very different
ways, that Of the Old Colony, for instance, in
average lots of only SlG45 each, and SO per
cent, of the whole in Massachusetts, while the
| Boston 6 Albany, with an equal proportion in
Massachusetts, is held in average lots of
! $4,000. The ma GRITTY of the stock the Bos
ton Maine, on the other hand, appears to
be held out Of the Commonwealth and in lots
of about S24O0 each The Boston and Prov
| idence is held in lots of about $4,000 each, and
! 10 per cent of the whole is owned in the
State. The Duxbury & Cohasset is held by
only four parties, the Holyoke Westfield
by fourteen of the leading roads the Hart
ford & New Haven appears to be in fewest
hands, the average amount held by each
stockholder being in the neighborhood Of
$500.
The total earnings returned for the year,
are $50 ,s7S, 542,70, being an increase OF S.
coz, SCI over the previous year, of which in
crease $685., 59l was derived from the passen-
ger business, So, 305, S3S from freight, and the
remainder from miscellaneous sources. Of
the entire gross receipts, about ~ per cent
were derived from the passenger business,
and 81 per cent. from freight; and during the
year the receipts from freights had increased I
per cent. while those from passengers increas-
ed but seven per cent. Upon fifteen roads the
receipts from passengers were in excess Of
those from freights, while the reverse was the
on each mile of road operated was Sl2,76S.-
81; the amount varying from S205S on the
Duxbury & Cohasset to S34, 500 on the Boston
& Albany. The cost of operation has amount
ed 10 1922. 81 to each mile of road but from
this result no safe inference can be drawn.
The total mileage of passenger trains run
during the present railroad year exceeded
those of the last by 767,9l9 miles, and the
number of passengers carried was 3,242,S45
greater; as regards freight, the train mileage
increased 1857 i ~, and the number of tons
carried 2 1888, 44G. The average fare charged
per mile on all the roads was 2.426 cents,
ranging from 4,-10 mills per mile for season
ticket passengers for long distances, to Al
cents per mile for single trip passengers on
certain branch roads. 1t is satisfactory to
know that the increased freight tonnage has
been due to the increased volume of Western
produce seeking shipment to Europe. Pre-
vious to the Revere disaster in August 1871,
the train brake was used only on single road
in Massachusetts,. AT the close of the pres
ent year it had been applied to ninety-three
locomotives, and AIS out of l0l5 passenger
cars. Ten roads have adopted it on locomo-
tives. Of the thirtyfour crossings Of one
railroad by another all but eight are at grade.