The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1874-06-26
OUR RAILROADS.
Statistics Down 10 the Close OF 1873.

sneetS OF " POOr'S Manual, Whlcn
brings the railroad statistics of the
country down to the close of 1873
Referring to the proof-sheets, We find
that there are 6,096 miles of railroad
in the United States, of which the OPP
erations are given, against 81 1923, miles
in 1872 and Al, GA miles in 1871. Near
ly ali the new road built in 1873 was
during the first quarter of the year,
building since that time having practi-
cally stopped, at least so far as new
railroad lines are concerned. The
aggregate cost of the several roads at
the end of 1873, was SO, 761, 973, 1922, or
nearly double the amount of the nation
al debt. The increase of cost for 1873
1871 was 81, 0S5, S31, sos. OF the total
cost at the end of 1873, 81, $40, 63S, 5S4
was represented by share capital, and
81, 81 1874, 73S by various forms of debt,
chiefly bonds maturing at a distant day
The total gross earnings for the year
1873 were 1927, 291 1898, against $685.
241 ,055 for 1872, and $403, 1913, 20S for
1871. The increase of earnings for 1873
was $50, $50, 26S; for 1872 1914, 911 1857
the total for the two years being Sl23,-
962, 115. The percentage of increase
for 1873 over 1872 was ia per cent ;
for 1872 over 1871, IA per cent. OF the
total earnings or'the year 1873, $751;
$40, 7S9 were received from freights and
$139, 74S,5 1874 from passengers. The
current operating expenses were $751;
437 ,52S, or 65.2 per cent of the gross
earnings The amount paid in divi-
dends was $50, 500, 316, or 3.07 per cent
on the aggregate amount of share capt.
tai. The ratio of total mileage to in
habitants in 1878 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 1873 was 4. 90
against $40 for 1872 and 5 80 for 1871.
The increase of mileage in 1872 and
1873 was II, 667, while the increase of
the cost of the roads in the same time
was 81 ,085, 1881 1908. AS explaining this
point we quote Mr.. Poor, who says :
50 1t was hardly possible that the earn
ings should increase in ratio to such an
enormous expenditure, as two or three
years often elapse after its opening be-
fore railroad is in position to do much
business, for the want of adequate equip
ments, or from the unfinished condition
of its tracks, or from the want of suitable
connection, or from pecuniary embar-
rassment On the other hand, the earl
ings of these works, per head of popu-
Sl1. 63 for 1872, and S9.S0 for 1871
This is a most encouraging feature in
connection with these works, as it
shows that under ordinary conditions
their earnings must increase, for an in
definite period, in a very rapid ratio,
more clearly settled-the increase 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 popu-
lation is increasing at the rate of
/ 100000 annually. BY 1880 the earn
ings of the roads now in operation will
probably exceed 1000, 900, 900. The
percentage of their earnings to their
cost will come fully up to 20 per cent
sufficient to render the whole investment
reasonably remunerative.
Classifying the railroads of the coun-
try by sections, we find that the mileage
Of railroads in the New England group
of States for 1873 was 5,303. against
1914 for 1872. Their cost was $685.
G97, IT'S, against $3.50. 900, 794 in 1872,
aud was made up of Sal, Alb, 800 of
share capital, and 500, 224, 449 of debt.
Their average cost per mile was $lS,-
$50, against $50, AIS for 1872. Their
gross earnings were S51 $40, 6S8, against
S4S. 519, $50 for 1872. OF the gross
earnings S29,31O,043 were received for
the transportation of freight, and
SO, 1858, 645 for the transportation of
passengers. The percentage of gross
earnings TO the cost of the roads was
10. per cent. The net earnings were
SO, OGl, III, and equaled 2.92 per cent.
of such cost. The earnings per head
head of population equalled $14.30,
against $13. 80 for 1872 The dividends
paid amounted TO $9,004, 4SS, and
equaled $50 per cent on the total share
capital. The ratio of total mileage to
population was one mile of line TO every
go inhabitants, against 100 for one
mile in 1872.
The mileage of the railroads in the
Middle States for 1873 was 2,4l1
against ] l, GIT for 1872. Their cost was
81, 126, 702, 10Y for 1873, against 1892
700, 776 for 1872. Their gross earnings
were 1914, 052, 300, against Sl69, 20j, 307
were derived from freights, and S42,-
675, 900 from passengers. The net earn
ings were $50, 800, 900, or g. % per cent.
of cost as it stood at the end of 1878.
The dividends paid amounted TO $780,
54S, 225, or t. per cent. on the share
/. capital.
The miles of railroads in the Western
States for 1873 were 32,SS9, against
%, rs for 1872. Their cost was ST.
700, 15S, 522, against 81, 472, 625, 232 for
1872. Their gross earnings were $2l1,-
III, 7S1, against S173, S26, 252 for 1872.
OF these $157, 900, 900 from passengers.
The dividends paid amounted to 3d.
055, 347, or 2.26 per cent. on the share
capital of the roads.
The mileage of railroads of the
Southern States for 1873 was 1851,
against 10, 1856 for 1872. Their cost was
500, 324, LOG, against $401, 913, 267 in
1872. Their gross earnings were $751;
666, 400, against $47 1888, $50 for 1872.
] OF the EARNINGS S3S 3S5 400 wara do