Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-30
American Railroad statistics for ISIS.

From advance sheets of POOr's Railroad
Manual for 1878 we CLEAN the following, de-
rived from returns of American railroad
companies the last year: the depression of
the three previous years still continues. Not
only has there been considerable decline In
the construction of railroads, but the earn
ings also show a larger relative decrease
than at any period since the first publication
of the Manual. The number of miles of
railroad opened during the year 1877 was
2l77, against 1857 for 1876, 1858 miles for
1875, and 2305 miles for 1874. The largest
number of miles built has been in New York
and Pennsylvania, and in the narrow gauge
lines in Ohio, Iowa and Texas. No new lines
of any considerable magnitude have been
undertaken. The gross earnings of all the
roads whose operations have been reported,
have equalied S472, 9O9, 272, against $751;
257. $50 for 1876, and $503, 065, sos for 1875.
The gross earnings have fallen off S24.348,-
687, and the net earnings l5,476, 055, as
compared with 1876. The ratio of gross to
net earnings was Is per centum, as against
37.5 per centum for 1876, equal to an in
crease of 1.36 per centum in the opera
ting expenses compared with the pre-
ceding year. The decrease in earnings from
freight has amounted to SIS, 278, I54; and IN
passe 1ger traffic, 5000, 533; the percentages
OF decrease being respectively 9.5 and 81
per centum. The dividends have fallen off
So. 4S3 1856, and are less than for any year
since 1871. The total amount of capital stock
on which dividends were actually paid was
1886, OLE, 1896, giving an average rate Of per
centum. No dividends were paid on any of
the railroads IN the States of Arkansas, Colo
RADIO, Florida Kansas, Louisiana, Mississippi,
Missouri, Nebraska, Oregon, Texas, and Yer
mont-nor, excepting on leased lines, in wa
aid Minnesota. In the New England States
the net earnings were $l3, 735, 746, against
SIS. 379,072 for 1876, SIS 1924 654 for 1875,
aad $16,73, 1873 for 1874 The dividends
PAID amounted to S6977, 726. against ST.
607, 1913 for 1876. IS, 788, 040 for 1875. and
$S,5ll ,97l for 1874. Ia the Middle States
500. 382.5l7 for 1876, S65, 609.4lS for 1875,
and $40, ,972 for 1874. The dividends
paid amounted to $24, 800, 480, against S33,-
69O,11 for 1876, $39, 357, 1876 for 1875. and
$37 900, l54 for 1874 in the southern States
the net earnings were $l2 664 346, against
81. 1l9,03l for 1876, $l6,74l, 900 for 1875,
and $l7,269,3S2 for 1874. The diyi-
against $l,860,351 for 1876. 81 1876, 906
for 1875 and 81, 068, Ass for 1874. The rail-
roads In the States of Arkansas and Texas
are this year grouped with those of the west
ern States, thus causing a greater apparent
than Tsal decrease in the earnings in the
southern States. Including these States, the
net earnings would be 1921 1877. In the
western States the net earnings we're $685.
OS5, 243, against $63, 9l2, 1858 for 1876, SIS
604, l04 for 1875, and SIS ,546, 695 for 1874
The dividends paid amounted to $l4 ,556, 462
against ST.. 1894 $50 for 1876, SIS, 230, 51l for
1875, and SIG, sos, S32 for 1874 PIior to the
present year, the operations Of the railroads
in Arkansas and Texas were aggregated with
those OF the southern States. Making the
necessary deduction for those States, the
gross earnings for 1877 would be $1S4, $780,
49S and net earnings $50, 47S 200
1t will be seen that the principal decrease
in earnings has been in the middle States,
due partly to the depressed condition of the
coal trade, and partly to the falling off In
passenger earnings, as compared with 1876,
the centennial year"