The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-05-08
Valuahle RallWar Fact..

railway statistics, and draws therefron
certain inevitable conclusions that com.
mend themSelvesto all men, and especial
ly to those people Of the agricultural sec
tons ofour country who are clamoroul
Tor increase Of railways. The returnl
from tWenty-oner railway companies from
January 1st to March 1st this year show
q falling of in earnings Of $s46s20.
The only companies that exhibit an In.
crease are the Burlington, Cedar Rapids
and Minnesota; Chicago and Northwest
ern; Indianapolis, Bloomington and West.
ern Michigan Central; Missouri, Kansas
and Texas; 81. Louis and Southwestern,
and Toledo, Peoria and WarsaW. The
companies that exhibit a decrease are the
Atlantic and Great Western; Central Pa.
cifc; Cleveland, Columbus, Cincinnati
and lndianapolis; Etie; Illinois Centrak
Kansas Pacific; Lake Shore and Mich
igan Southern; Mobile and Ohio; Ohio
and Mississippf 81. Louis, Alton and
Terre Haute; 81, Louis and Iron Noun
tain and Toledo, Wabash and Western.
The net decrease for March is 81 ,8Gl 81.
! By railway returns made for 1872 It
seems that the railways of the Middle
States paid twelve millions Of dollars
more money in dividends than those Of
the West, although eighteen thousand
miles shorter. 'o.i-!'-' ''t'
The highest precentage Of dividend is
paid BY the New England lines, 9 65; the
next by the Middle States lines, $40; the
next by the western, 2 s3; the southern
paying but Ito. Looking, however, at
the percentage OF net earning TO the cost
Of the line, the case Is different, being 6 40
In the Middle States, 6,26 In the New
England States, 6 in the Pacific States,
457 In the western States, and A 10 in the
southern.
These statistics serve to show that the
weak points Of the whole system are at
the south and west. The returns for the
present year, being chiefly from the west,
agree with this, and the only southern
line east Of the Mississippi from which we
have returns-the Mobile s. Ohio-shows
q decrease for the quarter OF $156SG0 in
net earnings; Most Of the Missouri lines
chow decrease also, so that the southern
railways generally, except the Baltimore
q Ohio, would probably do the same. ri
the building OF competing lines ut the
west should cease all the existing comps
MES would soon be prosperous, but Con-
gress seems TO be busy with absurd
schemes 10 construct now lines from Chi.
cago to New York, and the grangers at
the west have fairly upset the public mind
OF that section by their clamor for new
lines. ..-,
These statistics settle very clearly that |
agriculture cannot maintain railroads nor |
give profitable employment to railway
capital. For the sections where agricul- |
ture Is predominant are those where rail. |
ways yield the poorest returns, and the |
whole system seems TO rest upon the sub
stantial basis Of the commercial, mining
and manufacturing interests. Yet while |
these elements give the most profitable |
to railway capital, the agri-
cultural States make the greatest and |
most imperious demands Tor increased ia
cilities, although they have disproportio.
nate amount of railway mileage. Our
readers will observe that during this quar-.
ter, when the decrease in earnings has |
been so marked, the southern and the
western products have been enormous
and have foated toward Europe in a
steady stream. But the depression in the |
commercial, mining and industrial inter-
ests has been great, and hence the falling
of In railway business. This Is the main
cause and all others are but subsidiary.