Connecticut western news., 1874-07-03
American Railroad Statistics.

The following is an extract from the in- troduction to "Poor's Manual of the Rail- roads of the United States for 1S74-75"
 The tabular statements on the preceding pages present full abstracts of the share capital, indebtedness, earnings, expenses, dividends, etc., etc., of the railroads of the United Utates for 1873. The total length of line of which operations are given is 66,- 096 miles, against 57,323 miles for 1872, and A, ,614 for 1871. The aggregate cost of the several roads at the end of the year was $3,76l ,973,322, against S3, ,159, ,423,O57 for 1872, and $2,664, ,627 ,645 for 1871. The in- crease of cost for 1873 over 1872 was $6O2- 55O,2 ,265; over 1871, $1, ,O97 ,345 677. Of the total cost $1 ,94O, 8,5S4 was made up of share capital, and $1,S21, ,334,7 ,73S of various forms of indebtedness, chiefly of bonds maturing at distant day. The propor- tion of share capital to debt was 51.7 to 4o3; The average cost per mile of all the roads was S56,9l8, against $55 l16 for 1872, and $59, 726 for 1871. The total gross earn $468, ,24l ,O55 for 1872, and $4O3, ,329 208 for 1871. The increase of earnings for 1873 was $59,O50,268; for 1872, $64,911, ,857; the total for the two years being $123, ,962, ,115. The percentage of increase for 1873 over 1872 was IA for 1872 over 1871, IA per cent. The percentage of increase in the two years was 30 per cent. Of the total earnings for the year, $3S7, ,542,7S9 were received for the transportation of freight and mails, and Sl39, ,748, ,534 for the transportation of pas sengers-the proportion of the former to the latter being as 73 to 27. The current operating expenses were $344, ,437 ,52S, or 65.2 per cent. of the gross earnings. The net earnings were 82,S53, 765, or 347 per cent. of the gross. The latter equaled 14.- B per cent. of the cost of the roads-the net 4.96 per cent. The amount paid in divi- dends was $59, ,566, ,316, or 3.07 per cent on the aggregate amount of the share capital
 The gross earnings per head of popula- tion equaled $12.S0 against $11.63 for 1872, and $9.S0 for 1871. The ratio of total mileage to inhabitants in 1873 was one mile of road to every 592 inhabitants, against one mile to 600 inhabitants in 1872. The percentage of gross earnings on the total cost of the roads was 14.33 against 15 for 1872 and 15.14 for 1871. The rate is 0.67 for 1871. The percentage of net earnings upon the cost of the roads for 1873 was 4.96, against 5.20 for 1872 and 5.32 for 1871. The increase of mileage in the two years for which returns are given has been 21, ,4S2 miles, The increase of the cost of the roads in the same time has been $1 ,097, 1905, ,677. It was hardly possible that the earnings should increase in ratio to such an enor- nous expenditure, as two or three years often elapse after it's opening before a rail- road is in position to do much business, for want of adequate equipments, or from the unfinished condition of it's tracks, or from the want of suitable connection, or from pe- cuniary endorsements. On the other hand, the earnings of these works, per head of population, in 1873 was $12.80, against | $11.63 for 1872 and $10.22 for 1871. This is most encouraging feature in connection with these works, as it shows that under or dinary conditions their earnings must in- crease, for an indefinite period, in a very rapid ratio, more clearly settled-the in crease per head in the Eastern States being fully as 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 six years without the construction of an additional mile of line. The population is increasing at the rate of one million annually. By 1880, the earnings of the roads now in ope. ration will probably exceed $1,00O,0O0,0OO The percentage of their annual earnings tc their cost will come fully up to 20 per cent "a rate which, with good management, if sufficient to render the whole investment reasonably remanerative. In fact, there seems to be no limit to the increase of earn ! ings, even with a stationary population | provided such population be intelligent, anc provided with all the aids to industry whicI | science and art can supply.