New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-08-20
totals l4e2e0sso io20al4s4


The foregoing statement shows that the capital
and liabilities per mile of all the railroads for the
respective years were follows. 1879, $57, 100;
1880, $5s,949J 1881. $50, 1906 1882, S61, 342-
showing an in mile for
all the mileage is only single track, The gross
earnings per mile OF operated road for the respect
i've years were: 1879. st. $685. 1880, 81, 437j 1881
1885, 1882, So, 1893. The net earnings per mile
1882, So, 500
ing statement showing by groups of States the
capital and liabilities per mile and the gross and
net earnings per mile operated for the four years.
NEw-ENGLAED GROUP.
1879. 1880. 1851. 1882.
mile So. ~o.~. ~ s55ss7 sS49sl $4,000 sSS5sa
S Sot EARNINGS SaIGDs per nG m R,' oo ssa Ell @
MIDDLE GROUP.
1879. 1880. 1881. 1882.
..-c. s92 so2 slG5Sss sles2os sl1sla7
S S.s pep PER % Ss s5 so 1866 ss sss
SOUTHERN GROUP.
1879 1880 1881. 1882
caBtsl and liabilities per sss ss7 ssssso sssOss sse7.
81 s. siGHSf c!s nis o f 5 FER s j{
WESTERN GROUP
1879. 1880. 1881 1892
Sc :sss5s s. sS$ SIS s5 1891
PACIFIC GROUP
1879 1880 1881 1882
mile anu 11o,','' eo5 s74sos seeos s77Ie5
Scs saasf e Per % T $50 a @
The foregoing classification by groups is as fol-
lows: New -England-NlaIne, New Hampshire. Yer
mont. Massachusetts, Rhode Island and Cobnecti-
MIA Delaware. Maryland and West Virginia
southern--ylrginia, North Carolina, South Caro-
lima, Georgia, Florida, Alabama, Mississippi.
Ohio, Indiana, Michig 81. Illinois. Wisconsin, Min
nesota. Dakota. lGws, Nebraska Kansas, Missouri,
Arkansas, Texas, Colorado and Wyoming Terri
ritOry, Arizona Territory. Utah Territory Nevada,
Oregon ana Washington Territory. We quote:
The Of share capital and indebtedness of the
railroad mpanies for the three year ending December
81. 1882 S2O23 64Gsi2 the average cost per mile
2I e 1 s in be three Years of the fnded debts Of
the several companies has been SsG492GO29 OF their
floating debts SO, 1910; the two amounting
1868 2l5,939. a sum equalng something over $4,000
per mile Of line The cash cost OF all the railroads con-
sucted the United States in the last three years did
not exceed probably $4,000 to the mile or 5000
900 all To this Is TO be added at least l50000
prOyemens OF old lines IL Is saie TO estimate that the
actual cash expenditure upon all the railroads OF the
81 $50 100000 a sum 1913, 646sl2 less than the in
crease in the period named OF capital and Indebtedness
OF the several companies Oh course s1ch an enormous
Increase OF liabilities actual cash outlay ia to be
greatly regretted and is well calculated to dis
states the general railroad laws forbid the issue of
snare capital unless ts full equivalent is paid; but
tain amount ~ stock and bonds il issued In
full payment for the construction of given
against usry be pleaded in avoidance or railroad
bonds They can consequently be Issued and sold in
refusal % the public TO take them. In such
states tOho aud New-Yorkl. consequently. with the
resery atoms made. mileage OF any siderable
extent can be constructed at advantage at all
prn.ating for the unproductlve outlay The same may
BE said OF lines built nomnaly 10 serve carriers
between the west and the east. The existing lines
copabe of transporting twice or thrice the tonnage now
that likely offer itself. The all
such lines will be divide business with. and thus
weaken the old or. unable compete their and
bond. must remain comparativey yalueess. Jhelr
want Will TO check the further
ton Of all undertakings OF the kind Indeed the uncer
tainty which prevails the value OF the enormous
mass stocks amt bonds which has been put upon the
market in the last three years exertng salutary
influence in checking or postponng new enterprises TIL
the results OF the past can be more clearly seem
ADVANCE OF RAILROAD BUILDING.
The construction OF in this country seems 10
proceed in great In recurring periods
the absorbing passion OF our people All this 10 very
natural No enterprise Il so seductive railroad FOR
he influence Il exerts the power II gives and tue hone
OF gain II offers. Every community. matter how well
supplied, eagerly welcomes ne, for the money its
cost brings IT, and the promise it offers OF lower rates of
transportatior. When there has been considerable
pause the construction OF railroads and the traffic OF
old lines which, withou: rivals keeps with the pro-
grcss of the country their predicated every
new nne wherever situated. no matter how wanting IN
public mind the promoters OF new enterprises have for
time everything their way; for the argument
tue other only be presented by the result ITSELF
There neV err period In history IN which, I'm tie
construction and consolidation az railroads. the good
sense OF people thoroughly at fault In the
period 1879 up to and including 1892 There
10 no doubt that the country is vastly richer aud |
stronger than in 1873 and that there reason
apprehend the terrible disasters that followed that
YEAR hut confidence IN vast strength has prODably
led wholly disprop0rtOnate TO our needs
II Is to the credit of the railway interest that far
the bonds OF ralroai companies Their floating debts
thoagh large in the aggregate create embarrassment
II is also remarkable evidence OF tue wealth OF the
country that the endture OF more than 100000
for every day three consecutive yearsnoney almost
wholly supplied by our own peOple-has created NO /
strain IN money markets. THIS perhaps Is not so
much 10 be- wondered at as nations OF the Old World.
having much less wealth IMAM our own spend annually
upon military ana naval expenditures
In one point OF view whoIy greater
than expended annually IN TINS country upon rail-
roads greatly In our favor that by far the greater
extent mileage constructed within the last three years
In territory so that should the investment
In them be wholly sunk the loss would be more than
compensated by the advantage resulting from opening
up vast tracts OF fertile territory 70 settlement The con
,fruction railroads, matter the scale which.
likely to create anything like the widespread disasters
that followed the breakdown OF 1873 however much in
the country are in a sound condition There has been
no undue speculate IN real estate that precursor
whatever they may he. will be that OF single powerful
interest win not, they did in 1878, include every
other in the country.
PASSENGER AND FREIGHT STATISTICS.
The number OF passengers transported IN 1892 the
railroads Of the New England group OF States having
population OF 3,990520 was 90 220934-a number 1863.
times greater than its whole population The number
in Massachusetts, 4S,O63O39, numb
greater than for any other State The number trans
ported In Middle group OF states having population
70 1916, $40 205 Sil 626 Cor deductlng S6l6l,
D29 carried on the New-York city Elevated Railroads.
ll0 $3.50, 597a number very nearly equalllng 10 times
s population The number transported In the Southern
Zroup OF states having population OF l2255,9lO was
0S755ll, number l37o,399 less than the population
Of this group The number The railroads
Of the Western and Southwestern group having popua-
ton of 30, 1928. was s2,o40'33l-a number 4. l
lines greater than its population the low average for
group arising from embracing IN II the southwestern
states The number transported on the Pacific group
having "A population of l,393,sl7 was lO,5lO4lO-a
number times greater than its population. The total
transported all the railroads Of the United
states the past year, not including the NewY0rk Ee
yated roads was $50, 100 1884 number equalng
nearly q times the total population 5O4l2,066, OF the
United States In 1850
The number OF of freight transported the part
~ the railroads the NewEngland group OF States