New-York tribune., 1876-03-24
ENcOrP1CTyG RAILROAD FIGURES.

Only thirty two railroads, ont OF more than
five hundred in the country. make reports OF
their calnings. Ytt the Importance of these
reports, imperfect IA they are, is everywhere
recognized. and each weekly statement IL
awaited with keen interest IA an evidence OF
the condition Of business. With reason. there
is general feeling of encouragement because
the returns for the first and second weeks III
March show larger earnlngS. in nearly every
instance. than were made during thc CORE
,pondlng weeks last year. Yet the admitted
yalue of the in formation obtained. not merely
to stockholders and dealers, but to the entire
husnc,, community, only sharrrnS the app"-
tie for tho immcGsurably important data
which similar reports from al the railways
Uoud supply. When we sce how easily and
promptly these ,portS are made. hy some roads
hayinga very heavy traffic, long line. ana many
hranchcs. il il not strange that the persistent
refusal Of The majority OF roads 10 make them
rNcitcs considerable impaticncc. IL cannot be
.ild that the regular publication OF earnings
would be irjurious To the companies, ioi the
same Information is necessarily given N a
later date in annual reports il il constantly
auticipatcd by favorable or untayorahlc rumors
" bich are often more injurious than any state
mcnt of facts and among the roads which
now make regular reports are included some
of the most prosperous in the country. But
one reason for rcirsal can well bc given If u
road has fallen into the hands of men who
run il D. .uly for stock gambling purposes,
;hcy may iiud their account in conccalinS
facts from the public, in manipulating reports
about ts business, and in fieccing with i'm
par,iality tho stockholders and the public.
Among the roads reporting, the Central and
Union Pacific. the Illinois and the Michigan
Central, and tho Chicago. Milwaukee and II.
Paul. all show large increase Of earnings since
last year. and the gross earnings of each OK
coed 81 900. 900 for the iiIst two months of
1876. Next to these five roads in magnitude
or earnings. and not behind either of them in
proportion oi increase. is the ~. Louis, Iron
Mountain and Southern. which is now reapins
the fruits of that COURAGE aud energy by which
il was pn,hcd forward into the rich cotton re-
rion above shreveport. The Ohio and Mis-
sissippi, the Chicago and Alton. and the Mis-
souri Kansas and Texas. are also roads of tho
first class in importance, and these also gain
largely in earnings. IL would be exceedingly
interesting to compare these returns, which
show 80 decided an Improvement IN the amount
of traffic at the West, with corresponding
reports by the great Eastern routes. But the
efforts of the stock Exchange have not yet
been successful with either of the Eastern
trunk lines, perhaps because each is waiting
for the other Such is the rivalry between
them that if either should begin Ia make
frank and busincss-iikc Settlements 0f its traf-
fc. il Is probable that the Others would soon
find il advantageous to follow the example.
Wherever the public has freedom Of choice at
equal rates, il is very likely to give the prefer
cnce To roads which. by publishing regular
returns Of their traffic, give u guarantee that
they are not managed for the benefit of "a
! stock -jobbing ring. but are willing to serve
| the public as far as possible. Slr. Vanderbilt
has taken the lead in more than one improve
mcnt. We doubt if he could do more popu-
| lar thing than to cause full returns to he made
of earnings of all roads under his control He
can well afford to court publicity. Whether
all his competitors can as well afford it is for