New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-12-27

In the foregoing comparisons the same feature is as
prominent those in the reports OF other ana
to which TIE TRIBUNE has before called attention. To-
wit large reduction the cost Of maintaining the road
way and track With large increased mileage for both
passengers and freight and partially proportlona'e III
creased cost other items the maintenance OF roadway
and track reported at 676l6 or 2l6l per cent less
than last year. Investigating the superinendenps re-
ports however reveals the secret There was phccd OF
ell kinds ofrais in track for the last year but 16Sos
tons aganst 1900 in 1875 and an average OF about
$4,000 for previous years The superintendent ID
his report to the president remarks upon the subject that
tho total amount laid In 1875 and 1876 IL less than pre-
yIo years. your adoption Of the use Of steel Iapay
made the requirements less" But in this case steer
rails can hardly be accepted satisfactory explanation
for large reduction as 2l6l per cent III cost o. mann
nuuce because the beginning OF the last hsca yeas
tine Eie Railroad had only 245 miles OF steep IN all It's
track which was increased TO 81 miles at date Of re-
port The folio wing tho same authority, oilers
much more satisfactory explanation Of what has grown
TO be a phenomenon with ali railroads:
The ballast has not at any time been sufficient IN guam
INV or of approved quality and is much worn
and in need renewal. The track will require for MS
proper maintenance during the current 20 nS
steel rails $500 ons reroled iron rais' ana oooooo
cfOssties.
note at foot Of report says the amount charged for
expenses includes S580671 81 for new equipment to re-
place old numbers, viz: Renewals OF locomotives
1921 ia 74 passenger and baggage cars $23ll 40,
and freight cars Slli09l %. Upon tue equipment INC
superintendent says:
Durng the year twenty (2o) Grst-olass locomotives
were purchased OF the Brooks Locomotive Works, at
cost OF $4,000, and four W new locomotives OF tbe
Mogul pattern consruct. in the conpanSs Shops
sugquehanna. &c cost OF about TilOOo lhese tre
thc only locomotives placed IN inc revenue serce
on the line of the road since August 1877 ana nave not
made good depreciation Of the intervening period
The car equipment Increased by 43 passenger
baggage, . express, and G3 freight.
The President in his remarks upon the extremely low
rates for transportation which have prevailed during the
past year, says;
The average rate during The hseal year OF 1879 W,s
extremely low the general COHESION 81 Jus ,i l
OF rates before anticipated, ana below
the point which t supposed woud be reached duihg
any future year had the rates OF that year, es low
as they were prevailed during the fiscal year Just cosr
would have been 81 i75 II more than WIS realized
Orer branches OF traffic would nave been IN excess oi
the earnings OF the preceding year.
Here Mr. Jewett seems 20 forget that but for the eX
trr,ne low rates of which he complains very large ton
mage which the railroads enjoyed during the Summer
would have followed the water al the way to Ncfork
So that 80 far AS gross receipts were concerned what
was lost BY the low rates might otherwise have been
loo, IN tonnage as 10 was during TIE Winter months en-
account OF tho cheaper rates to Baltimore and Phiade
pha.
TIC floating debt Of the company at tho respective
dates compares "a FOLLOWS;
Sept ls78Foaing debt ineludins receivers GO oso
Add coupons in June l, 1875 Ss75128
Sent 30 is7G-ToaI of unfunded debt. I2s s06
June l. lS75-Floang deOt as per "audit0r'' sh-hfoZ
Sept 80 ls7G-Incrcaso. lOi
Aucxamnation Of the foregoing condensed statements
OF the operations and financial results Of the past two
wears will enable reader arrive at approximate
idea Of the practicaby OF any OF the yet proposed
scaemes for the reorganization Of the Erie Railway
While New-Yort has deep interest in early recon
sruetion OF the company 1t is OF tho hrSt Importance
that it shall be basis OF real value and earning
conucty Better remain 10 is than start anew with
debts aud capital which have no representation In its
actual cost