Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1875-07-16
Railroad Statistics for 1874.


year reports that the total length of rail
roads in operation in the United States dur
ing the year 1874 was SO ,273 miles, an in
crease 3. .036 miles over the mileage of the year
before. This increase was considerably less
than for several years previous. The num-
Der of miles of new road in 1873 was about
nine thousand and in 1872 more than twelve
tho and. The total cost of the roads at
the close of their last fiscal year was S4.-
22l ,163 59i against SO, 7S4 ,5i3 .03i for 1873
an increase of Si37 600 .000-a great deal of
money for dull year. though much less
than the average for several years preced-
ing. In this cost, the ratio of share capital
to debt was So to 100. The average cost
per mile of all the roads was $50, i25,
against S57 ,ll3 per mile in 1873. The
gross earnings of all the roads for the year
We're S525, ,i66 DIG. OF which the amount
received for transportation Of passengers
was TO that received for freight and mails
as 1913 to 100. The operating expenses
were 63.6 per cent Of the gross earnings,
leaving 36 / per cent for net earnings. The
gross earnings equalled II 3 per cent on the
total cost Of the roads, and the net earnings
were 4 : per cent of the cost. The amount
paid as dividends was SCI ,O42 ,9i2. or 3 -
per cent Of the capital stock. The gross earn
ings for ISL were about six millions less than
for 1873 the net earnings were nearly six
millions greater, q saving Of nearly twelve
millions having been maze in operating ex-
penses. Part of this saving was due to
greater economy and faithfuness of man
agement, and part to decline in the price
OF materials and labor: but something, also.
no doubt. to less thorough repairs. The
receipts from freight were about nine and
halt millions less than in 1873, but the pas
senger receipts nearly three and a half
millions grelter. The amount of dividends
paid was nearly the same as in 1873
Though the freight receipts were less than
IN the previous year. the tonnage transport
ed was greater. The gross earnings of the
roads 10 each inhabitant OF the country
were So -, against Sl2 80 for 1873. and
the ratio OF total mileage to population was
one mile OF road TO each ISL inhabitants
almost exactly the same as that for the
previous year
The mileage of railroads in the New Eng
land states Tor 1874 was } 5,Gl7, an Increase
during the year of 3li miles Their total
cost was $40, ,sli. .26, an increase Of some
what more than seven millions The aver
age cost per mile was SIS 397. The gross
earnings Ot these roads were "A trite over
fifty millions, decrease OF more than
million and a halt from the year preceding
OF the gross earnings nearly twenty-eight
N t..r 81
freight, and more than twenty-five millions
for passenger transportation. The gross
earnings equalled 20 10 per cent of the cost
of the roads. The net earnings we're SIG
III. .lo3. and equalled & - per cent OF the
cost The dividends paid amounted 10
$ oil vi. or 6.3l per cent on the total
share capital. The earnings per head
OF population were Sl375. or fity-
five cents les than in the previous year.
The rate OF mileage To population was one
mile OF line TO every 6.l inhabitants. The
cost of the New England roads was made
up of Sl37. .l2j ,9l5 of share capital. and
Sill ,2le -ll OF debt.
The Middle states added to the length Of
their roads during the year about four
hundred miles, and 10 their cost 1872 mil
lions. The gross earnings of the roads in
these states tell off about seven and u halt
millions; the net earnings equalled ). 32 per
cent OF the cost OF the roads. Inc
dividends paid Cqualled - per cent
on the share capital. The " Western
states increased their railroad mileage by
:, 200 miles, and their cost about 2i0 mil
lions Their gross earnings were increased
about three millions. The net earnings
equalled per cent Of the cost of the
roads. The dividends paid amounted TO
l.93 per cent on the share capital The
Southern states report the total length of
their roads decreased about four hundred
miles. and their cost increased about four
teen millions. Their gross earnings fell off
about million and a half Their net earn
ings were 3.3 per cent of the cost Of the
roads. and the dividends paid amounted to
only one-half OF one per cent on the share
capital. The Pacific state roads increased
their mileage by twenty seven miie-, and
their cost more than five millions. Their
gross earnings increased a million and
halt. and the net earnings equalled per
cent on the cost of the roads
The Mann closes It's review of the year.
railrof business as follows:
Although there was slight decrease IN
tGe gross earning of 1874 from those of
1913. the net earnings were somew hat
greater. This increase has been due, in
part. 10 the better systems of management,
and to the reductions that have taken place
in the price of labor and all kind Of ma
terial. A. prices lower than those which
have prevailed FOR years past must
rule for several years to come. there can
be little doubt that the proportion of net
earnings to gross Will continue to increase.
Notwithstanding, therefore, the defaults
that have taken place in the payment of in
terest. an encouraging view should be taken
of this great investment. as there i none
other 80 firmly grounded in the necessities
and habits of human life. The great crisis
IN our railroads. previous to that which has
lust been suffered occurred in ls57-5S 1T
that time the railroad system OF the country
was only partially completed The tratiic
OF each road. conseq uently, was mainly re-
stricted 10 that of its own route.
At the present time our lines form a vast
and complete system, 50 that not only Is
every section OF the country fully accom-
mOdated. but roads in portions of 1t most
widely separated contribute largely 10 each
Others traffic. The earnings per head of
population. consequently. are now five
times greater than they were in ls5S Oar
foreign markets have, in the meantime,
been immensely enlarged. and these are not
subject to the fluctuations which attend our
own. These are some of the causes which
have maintained the earnings of our roads
during the prevailing depression up to their
present high figures, which far exceed those
/ for any previous year, except 1873. We do
not look !or any considerable falling off in
1873 The tonnage of our roads for 1874
/ was very nearly or fully equal to that of
1873. while that of 1873 is likely to exceed
that of the past year. Should there be a
| speedy restoration OF specie payments, we
| have every reason to believe that the rate OF
| increase OF the earnings. which for the past