Middletown transcript., 1878-05-11
Report afLate Committee on Freights'
Made TO the Peach Meeting at Mid
dIetovvn. Del, Feb. 18th, 1878.

Mr.. CHAIRMAN The former committee on
frelghts, from their investigations having OBJ
tanned some insight into the affairs of the
producer and transporter of the Peninsula,
believe that it is for the general interest that
their views be produced, in order that, if
sound, there may be further extension, and
perhaps leading 10 some practical means be-
ing agreed upon to better our condition.
At first, we wish to institute comparison
between the pecuniary condition of the busi-
ness and landed interest of this Peninsula,
and that of the railroad whose interest it is
claimed, officially, is identical with our own.
We believe there can be made out the
most clear case of extortion against the P.
W. & B. R. R. Co., towards its customers
generally, as well as towards the peach grow
ing interest.
Under the broad light of the events of the
past few years, when men, cities, states and
nation forget the simple rule of honor in re-
gard to obligations, under the urgent temp
tation of suffering and well-nigh necessity
when debt everywhere threatens TO envelope
and extineush titles all over our land, we
ask that the corporation which exacts from
impoverished business and burdened real es-
tate six times the average earnings of capital
in the United States, shall not be held light.
" excused
As evidence of the suffering of our own in
terest we assert, Notwithstanding the report
of correspondents greatly to the contrary, that
ten trees in our section are being taken up
for every one planted.
| So demoralized are business affairs upon
our Peninsula that called loan of half the
value of property carries change of posses
sion, and from the multitude of such occur
rences there is surplus of real estate upon
the market The merchant, the local manu-
facturer, The laborer, all suffer identically
with the owner of the soil
After having slightly outlined the terrible
picture existing of estates crumb;ng as Gin
the air" under the solvent ofruin, let US look
for like indications into the very bowels of
this soulless embodiment, whose talk is of
"kindred interests but whose relations tru-
ly are made selfish and much less than kind
From Poor's Railroad Manual, the most
important private statistical work on the
globe, which is in every general business Of
fee and in the hands of every public man.
quoted and authority everywhere, we collate
some general remarks before opening to the
report of the company in interest.
\ Speaking in gross of railroads the manual
Estates "That while the total earnings from
all sources have fallen off in the last five
years S., S07. .546 the net earnings have in
creased S946, ,3l4." This increase "has been
due chiefly to the great economies practiced
in conducting operations"
1t can be shown that the P. W. & B. R. R.
towards this satisfactory aggregate, has con-
tributed more than an average amount, per-
haps the highest in the whole list
To show that reductions in charges upon
the general shippers have been the general
order Though, as we are aware, not the
course of the P. W. & b., we quote from the
same authority;
1.-THE earnings from transportation of
freight, mails, etc, were upon 197, ,082, 900
tons. As compared with the previous year
the tonnage transportation shows an increase
of6, O72, 900 tons, while the earnings show a
decrease of, So, ,822, 1858. This decrease is
wholly due 10 the great reduction in the rate
of transportation. In New York, " hich fair
ly represents the Middle States, the earnings
per ton, per mile have decreased from cts
LII in 1871, to cts. l 10 in 1876"
Consequently, shippers generally have been
relieved about 40 per cent.
'Since 1871 $500, 900, 600 have been invest
ed (uselessly and prematurely) in the United
States. Yet with this vast increase of capi-
tai and enormous reduction in the rates Of
transportation the railroad have yielded for
1876 net return of over 8 per cent. on the
amount invested.
By reason of these immense general reduc- |
tions in freights the eastern farmer has seen
his profitable market for grain, etc, taken
away from him, and although by means ofin-
enables transportation charges to be so much |
lessoned, yet the P. W. & B. R. R. Co., Weld |
to US so needful corresponding advantages,
such as the western farmer has of a reduction |
of expenses. The charge on bushel ofgrain
from Chicago to the East, is a little less than
two freights from Middletown to New Castle,
twenty miles, our nearest shipping point
Pcor's report further says in behalf ofrail-
roads 'tIn the meantime the depression it
self has not been without its uses. It has |
necessarily led to the utmost economy in the
management of our railroads, and to the |
adoption of every method by which cost of
transportation has been reduced nearly one
halt within period of FIVE years"
This general statement, if found to be par
ticularly true in regard to the diminished
cost of services to the P W. B. R. R. DEM
onstrates the injustice of the inconsiderably,
or not at all diminished charges to our op-
pressed industries
Opening at page 287 we find the annual re-
port Of the P. w. & B. R. R.
Aggregate Earnings So, ,456. 1876
" q l875............ 3,o46, OIL
l96S............ 2,45l, 959
A comparison running through ten years,
giving the lowest as well as the highest fig
ure. Showing much larger sum earned of
late, and, as we will show, at continually re-
duced expense.
We note that in 1868 their lowest exhibit,
taking ten years, that there was to-
tai failure 1.-THE only one) of our Peninsula
crop.
Net income accouut-Balance Sur-
Plus cocoon S795, 382.59
Deduct Renewal Fund $50, 600. 90
ourpius''''''.. -. S545, ,3S2.50
While among the charges against receipts
are: Equipments and Improvements, $685.
s36.l3; Dividend of per cent, $923, 800.
Poor's manual says; "The unusual expen-
ditures S365 836 IA wnrn chsroad to rave |