The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1879-07-31

Railway Statistics Showing q Very De-
cided Improvement in Our Trade.
Poor's Manual of the railroads of the United
States during 1878 says: eve are able for the
first time in several years to report very de-
cided recovery of the railway interest of the
country from its recent exceedingly depressed
condition. During the year ending December
81, 1873, 1854 miles of new line were opened,
the total mileage in operation in the United
States at that date being 1911 miles. The
construction of these routes has again been en-
tered upon with renewed activity and spirit
and is likely to continue. AS not one-half OF
our public domain is yet occupied, it is fair to
assume that not one-half of our future railroad
mileage has been built. Its construction will
proceed rapidly, till we have mileage exceed
ing twice its present extent. 1t is certain to
keep ace for long time in the older States
with the increase of their population and of
their commercial and industrial development.
Iu the new States and Territories the progress
of our railroads keeps pace with that of our
people, supplying the avanues through which
new lands are reached and their products sent
to market.
"a remarkable feature in tie railroad oper-
atoms of the country for several years past has
been the enormously increased tonnage in the
face of large falling off of earnings. The de-
cline in earnings has been due to very great
reductions in charges for transportation. With
in the last decade the tonnage traffic of our
railroads longest in operation has been fully
doubled, while there has been only an incon-
siderable increase in earnings from this source.
Since 1873, the year in which the earnings of
our railroads reached their maximum, the in
crease OF their tonnage has equalled 80 per cent,
although the period has been one of unexam-
pied business depression. Another favorable
feature connected with our railroads is the re-
organization of the affairs of great numbers of
those that had become pecuniarily embarrassed
Their reorganization has, as rule, been upon
plan or scheme to reduce their interest-bear-
ing securities to a sum the interest on which
could in all probability be met by the accruing
incomes, leaving dividends ON common or pre-
ferred stock to be paid as earned.
''There have been constructed in the United
States since the great crash in 1873, and with
in period of five years, II 1858 miles of rail-
road. In the same time the increase of popu-
lation in the country has equalled fully 7,000,-
0OO The greater part of this increase has
been in the extreme Western and in the min
ing States and Territories. A corresponding
demand has been created for the products of
manufacturing and commercial industries of
the Eastern States Labor is in fact more pro-
ductive in the new States and Territories than
in the older States. With the general recov-
OAy WIoilOooCu vi CNCIy dIu WIFI du 6IOr-
nous balance of trade with foreign countries in
our favor, there is every reason to believe that
the country, and particularly its railroads, are
entering upon career of unwonted prosperity.
The gross earnings of all the roads whose OPP
erations have been reported have equalled
$3.50, 103, 361, against $472 909,272 for 1877,
$497 PSI 1853 for 1876 and $685. sos for 1875
Classifying the States by their geographical
position as usual it will be seen that the gross
earnings for the New England States were
$41 ,260, 203, against $4,000, 465 for 1877. The
dividends paid amounted to $7,566,655 against
$6,977, 726 for 1877. The gross earnings of the
railroads in the Middle States We're $3.50, 1885,
1858, against 1856, 121 for 1877 The divi-
dends paid amounted to S21, 14S ,442 against
$4 1896, 4S0 for 1877. The gross earnings of the
railroads in the Southern States were $40, 797,-
2S4, against 3$9S12 1853 for 1877 The dividends
paid amounted to $2,So5, 799, against 80, TAO 1893
in 1877. The gross earnings Of the railroads of
$193, ,516 for 1877. The dividends paid
amounted to 1884, 222 against $14, 800, 462
for 1877. The gross earnings for the railroads
in the Pacific States were $10OS2, 491 against
~ 1922 for 1877. The dividends paid were
SQ30 000 auainct G0d0 900 for 1877