The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-01-23
RaiIroad Earnings for 1877.

Commercial and Financial Chroniele.
We have nov the reports Of twenty-five
railroads for the year 1877 with the ex.
ception Of the last week in December on
two minor roads,, and their gross earn
ings aggregate S~77,7l2,196, against ST..
$780, s in 1876, n net decrease Of only
SAT-, 1t Ia hardly necessary 10 call
attention TO the fact that the gross de.
crease in earnings Is quite uueyenly dis
tributed, and Is made up in great part by
a considerable decline In earnings on
few roads-Thus 1t appears that four
roads in the table below show a total de.
crease in the gross earnings Of 1874 95,
which Is balanced on the other side oil
the account by an increase, Of more or
less Importance, on thirteen roads.
In taking a general glance at the trans.
actions OF the year we find that the first
seven months were quite unfayorable as
compared with the same period OF 1876,
and the only roads which, u q class,
showed an increase in earnings were
those running west and southwest from
81. Louis, with some Of their connections.
As 10 the other ailroads-embracing the
western gra~ln-carrying roads in n
group; the east and west trunk lines in
another, and the Union and Central Paci.
fc in n lhird-it was only upon the I'm.
ion Pacific that there was any increase In
earnings, and OH the rest the decrease
was considerable. Although it Is proba.
bic that the Central Pacific main line had
then made no loss on earnings, the de-
crease Of that company being attributa-
BILE 10 its branches, wherein a large de.
cline has taken place during the year,
owing 10 the exceptional drouth and fail.
urc OF crops in some parts oil California.
What then were the principle circum-
stances affecting railroad earnings in the
year 1877 Without particular regard
10 the order Of naming them, the follow
ing were salient points OF the year:
First-The exceedingly low rates on the
trunk lines during the greater part ofthe
wear, and n moderate decrease in the vol
ume OF business on those lines. Second
The Diminished crops Of 1875 in the
West and Northwest, leaving q small vol.
ume Of freight for the railroads in the
first half OF 1877, which had to be car
ried at the low rates previously ruling,
in CONSCIENCE Of the Ct granger decisions
against the railroads, and the sharp COM
petition for business among the various
lines. Third-The exceptional prosper
ity and increasing population in North
ern Texas, Arkansas and Missouri, which
helped the railroads running into those
sections. Fourth-The steady business
on the main line Of the Pacific railroads.
Fihh-The great crops Of 1877, which
changed the entire situation when they
began to come 10 market. Sixth-The
agreement among trunk lines, both Wes-
tern and Southwestern, which were made
in the fall for the maintenance Of bet
ter rates for freight.
Unfortunately, we have very little in.
formation during the year as TO The vol
nme OF freight passing over the different
roads, and 1t il only alter the annual re-
ports come Ont. one by one, that il is pos.
sible TO ascertain whether an increase or
decrease in earnings is due to a variation
in the tons OF freight and number Of pas
sengers carried, or to a change in CON.
pensation received.