The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1875-11-23
EARSrSos AND EXPENSES PER rRAIs

The earnings per train mile run were
} for passenger trains S1.69, for freight
trains S1,7l, and the average for all
trains earning revenue Sl.65. The OPP
Grating expenses per train mile mile
run, for all trains, were 3091.7, or 1913
cents less than for the previous year;
but this expense when applied only to
trains earning revenue, is S1.10. The
expenses per train mile are divided as
follows: Maintenance OF way, 26.2
cents; maintenance Of motive power
and cars, 26.6 cents; and miscellane-
GUS expenses 63.2 cents. The interest
expense per revenue-earning train mile
run was 80 cents, making total of train
mile expense OF Sl.49.
INTEREST.
The total interest liability OF our
roads is approximately $40, 904, ,490, of
which SS.673, AS was reported as paid
during the year, while 81, ,23l ,045 re-
mained unpaid. III, now, we add to the
expense of operating, the interest which
accrued during the year, We have as the
total cost OF operation and investment,
81, ,457, 1876. But of the "a corpora
tions doing business in this state IA
failed to pay the whole or part of their
interest. Eight companies failed to
report any part of their interest as paid
which, for these companies amounted
to $3.50, 900.
NET EARNINGS.
The gross earnings when compared
with the total expense OF operation,
show as the net earnings for the year
sl3, $50. 040, or 81, 737 per mile OF road
operated. This is an increase above
the net earnings Of 1874, Of s759, ,263, or
So per cent. This amount is equal to
5.4 per cent on the total cost of roads
and equipment, as reported by the COM
panies, and five and two-tenths per
cent on the investment represented by
the paid mp stock and debt. This lat
ter item is a decrease from the previous
year OF four-tenths Of one per cent. Al
though there has been considerable
increase OF earnings, the increase in the
total amount Of debt has been such as
to more than overbalance tho gain in
earnings, and to produce the lessened
per cent above neted.
NET INCOME.
The gross earningsfor the year being
rs before mentioned, s45. .S99, 2S9. the
total OF operating expenses $50, 543 ,249,
and the total OF interest $40, ,905, 290, we
have as the net income resulting from
the years business si,45l ,549,-a sum
equal to S795 per mile of road operated
aud 40 Tor cent nn the naid up capital
stock. As compared with the previous
year, the net income shows falling of
OF Sl2S, ,565. or 2.S per cent.
Dividends.
But one company reports dividends
paid during the year, namely, the Lake
Shore & Michigan Southern, one Of 10
per cent on preferred stock, amounting
to S53, $50, and one OF 81 per cent on
common stock, amounting to 81, ,607,-
661; total 81 ,66l, oil. This total OF div
idends is equal to liz per cent on the
paid up capital stock Of all the COM
panies doing business in this state.
MILEAGE.
The train mileage for the year, was
9,2i1 ,272 miles for passenger trains 49,
1l9, ,6S4 miles for freight trains, 227. l63
miles for mixed trains, and 6,06S. l99
miles for construction and other trains;
making n total train mileage for all
trains, of 80, ,s24, 600 miles. The miles
run by trains earning revenue was 27,-
155, ,S02. As compared with the previous
year, this shows an increase Of 206, ,S22
miles for passenger trains. or 2. .26 per
cent-a decrease OF ,299, 1S6 for freight
trains, or 6,69 per cent, and an increase
for other trains Of I, ,s32. 1876 or 40. ~ per
cent. Twenty-nine roads report total
number OF passengers carried OF TO-
26s, ,373,--an increase over the number
carried in 1873 Of 629, s26, or 722 per
cent. Twenty-six roads report their
total passenger mileage, or passengers
carried one mile, giving IN aggregate
of 430, ,392, $50. But 90 roads report
their freight mileage, or tons carried
one mile. The total for these amounts
to 1882, ,955, 796 tons.
TONNAGE.
The aggregate tons OF freight moved
during the year was IA, ,31S, S,3l7,-an in
crease as compased with 1873 OF 2,0i7,-
4l2 tons, or 1868 per cent. Six roads
failed to report this item, but for pur-
poses OF comparison the amounts for
the previous year have been inserted in
the table for four OF the roads, no data
having been furnished for the other
two roads for either year. The character
of the business done has varied but lit
tie from that OF the previous year.
EQUIPMENT.
The equipment reported for the vari-
ous roads consists OF ,45S locomotives
Of all sizes, and a total of 81, ,254 cars;
OF which there were GOA passenger cars,
262 express and baggage cars, 1867
box freight cars, 1898 platform cars,
and SAG ore and other cars. OF loco
motives equipped with the air-brake
there are l25, besides those OF the
Lake Shore & Michigan Southern, where
all passenger trains are thus furnished.
There are 4S2 passenger cars thus
equipped. The Westinghouse air
brake" is in use one IA roads, aud the
"Ward air-brake" on seven, while one
OF our roads, the Chicago, Detroit &
Canada Grand Trunk Junction, uses
the "Smith vacuum brake" Six roads
still use the common mandrake, their
general business being done by means
Of mixed trains.
The total number OF stations for all
our roads is 1853, Of which 759 are in
this State. This gives an average OF
one station for each At m lies Of road.
PERSONS EMPLOYED
The 81 corporations reporting to this
Office employ, in the various branches
of superintendence and work, 22,675
persons, of which 10, COS are employed
in this State; being an average OF four
men to each mile OF road.
FREIGHT TARIFF RATES.
As was surmised by the commission
er in his report for 1873, there has been
general and steady reduction in
rates OF freight during the year, among
the most notable OF which will be found
the reports of the Lake Shore a Mich
igan Southern and the Michigan Gen.
tral; and while il has been usually
considered that the cost of canal trans
portation has been less than by rail, il
will be seen by the average OF rates on
the Erie canal that at least one of our
roads has been doing its business at a
rate equally low. When we consider
that the class of freight usually trans
ported by canal is that which is always
carried at the lowest rate, while the
business by rail is general, including
all classes Of freight, il will be seen
that the rates by rail, upon the same
class OF business, have been really less
than by canal. The result Of this re-
duction Of rates may be seen by even a
casual observer Of our railroad system.
! First, IL has the effect TO deprive the
sf<ck hol1ara of anv Iswitox,ds nm thatx