The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-06-23
RAILROAD STAUSTIOS


PooR's MANUAL BOILED DOws-MILEAaz,
EARNINGS. ETC -IHE YEARS WORK
The New York Evening Post complies
from Poor's Manual the following array of
facts AID figures: Referring 10 the proof
sheets, We find that there are 90 90 miles of
railroad in the United States, of which the
operations are given against 81 3zS miles i'm
1872, and 44.6I4 miles in 1871. Nearly all
the new road built in 1873 was during the
first quarter or the year, building since that
time having practically stopped, at least so
far as new railroad lines are concerned.
The aggregate cost of the several roads at
the end of 1873, was $, 76l g73 800. or nearly
double the amount of the national debt.
The increase OF cost for 1873 over 1879
was 500, 55A265, and over 1871 was
81 ,0S5, S3l sos. OF the total cost at the
end OF 1873 Sl,9iO, SIS, 5S4 was repre-
sented by share capital, and 81 .S2l,-
334,7Ss by various forms of debt.
chiefly bonds maturing at a distant day.
The total gross earnings for the wear 1871
were s527 POI 32S against sos. PAL ,O55 for 1872,
aud s4O3, POS tor 1871. The increase of
earnings for 1873 was S59.v5O, 2sS: for ISL
S64 9il ,s5I; the total for the two years being
Sl23. S62, ll5. The percentage of increase for
1873 over 1872 was IL 4 per cent; for 1872 over
1871, Ii per cent. OF the total earnings for
the year 1878, $685., $40, $50 were received from
freights, and $3.50 as, 5S4 from passengers.
The current operating expenses were $}a.-
49, OBS, or % per cent of the gross earnings.
The amount paid i'm dividends was $50. 500
$40, or 3.07 per cent on the aggregate amount
of the share capital The ratio of total mile
age to inhabitants in 1873 was one mile of
road to every $50 inhabitants. against one
mile TO every 600 inhabitants in 1872 The
percentage of net earnings upOn the cost of
the roads for 1878 was 4.96, against so for
1872 and 5.32 for 1871. The
INCREASE OF MILEAGE
in 1872 and 1873 was IL 667, while the in
crease OF the cost of the roads in the same
time was Sl,Os5, s3l, sos As explaining this
point, we quote Mr.. Poor, who saws: 1T
was hardly possible that tie earnings should
increase in ratio to such an enormous ex-
penditure, as two or three years often elapse
after its opening before railroad is in posi-
ton to do much business, for the want OF
adequate equipments, or from the unfinish-
ed condition of Its tracks. or from the want
of suitable connection, or from peeuniary
embarrassment. On the other hand the
earnings of these works, per bead of popu-
lation, in 1873, was Sl2 50 against Sll % for
1872, and 80 50 for 1874. This is a most en-
cOuraging feature in connection with these
works, as 1t shows that under ordinary con-
ditions their earning must ircrease
for an indefinite period, in verv
rapid ratio, more clearly settled-the
increase per head in the eastern
states being fully great as in the western
and more sparsely settled states. At the
rate OF the past three years the earnings of
our railroads will double themselves in the
next sin years without the construction of
an additional mile of line: the population is
increasing at the late of l,oOG goo annually.
By 1850, the earnings OF the roads now in Op-
ion, mil nflrr = AZ af1n
The percentage of their earning TO their
cost will come fully up 10 20 per cent, rate
which, with good manag m-nt, is sufficient
to render the whole investment reasonably
remunerative. The miles OF railroads in the
western states for 1873. were - $50, against
2S,77S for 1872. Their cost was 81. 7OS l5S. 522,
against 81 Az 625, 232 for 1872. Their
GROSS EARNINGS
were s2II, III, Isl, against sl73 S26252 for 1872
OF these $50, 100000 were derived from
freighis, and sl57, 600 from passengers.
The dividends paid amounted to Sl9O5j, 347,
or 2.26 per cent. on the share capital of the
roads. Mr.. Poor concludes the introduction
to his book as follows: "WIthin the past
five years p, 7S5 miles of railroads have been
been constructed in this coun-
try at $40 600 per mile: the cost OF these
works has been 81 Ill, 100000. In the mean
time 500, 100000 have been annually eXpeDd-
ed in charging the accommodations and
increasing the facilities for business of roads
already in operation-in other words there
have been expended upon our railroads
500 600 900 annually in the last Two years.
If we have not exceeded our means in the
construction of these works, we have pushed
this great interest out of all proportion to
others. We have only to stop construction
to have the equilibrium speedily restored
The method is q very simple one. The
earnings of the railroads of the westt rn
states the past year equaled eli 81 per head
of population. The present year, bat for ne
effect OF the recent panic, they would equal
SIS 80 per head; and in 1873, $40. 81 per head.
This gain is certain to bs made as soon as
the count V RECEIVERS from the present pros
tration. In the meantime population is in
creasing at the rate OF more than 100000
annually. The contribution oIthis increase
to railroads will add, at the present rate of
earnings, Sl4 $4,000 annually To their gross
receipts. The population of the country in
creases at the rate of about $50 per cent,
annually. The earnings of our railroads in
creases in about skiold greater ratio.
Now here comes a Cohoss NJ " woman
and wants little pocket money out of edi-
tors. Georgiana Putnam is her name, and
she has gone into the libel suit business at
wholesale. The Troy Press, it is alleged,
published an article in which she was spo-.
ken of as procuress. She now commences
an action tor libel against that journal, lay
ing damages at $40, OOO and has also brought
suits against the following papers, into
which the press article was copied: Albany
Argus, for $4,000; Albany Evening Journal,
$40 600; Albany Express, 5000; Albany
Knickerbocser, 5000; Albany Evening
Times. s.. 600; Troy Wing, $1,000; Cohoes
Democrat, 5000; Cohoes News, sl,O0O-$4S,-
600 in all.
How far is there an open field for the cul-
ture of the grape and the production OF light
wines in this country may be judged from
tho fac that the imports of light wines intoS