St. Paul daily globe., 1885-08-20
Comprehensive Statement of the Work and
Earnings of American Railroads
During Last Year.
4 Superabundauce Of Capital, and not Its
Lack the Evil of the Pres
ent Time.
Number of Miles of New Track Laid
by Railroad Companies in the
Northwest.
The Next Meeting OF the Transconti-
mental Association to be Held
in st. Paul.
P0or,S Manual.


OF which has just been received by the
GLOBE, contains large amount of informa-
tion in condensed form relative to Amer
lean railroads, from which the following
items OF general interest are taken:
The total number of miles of railroad in the
United States at the close OF 1884 was I25,Ss9,
OF which 3.s11 were constructed during the
year-the rate of increase being 3. Il per cent
Inc number OF miles making returns OF their
snare capital and funded ami floating debts
equaed 10, l52, against l2O,5j2 for 1883, the
increase being 4,59S, the rate OF increase
being 3-S per cent.
The share capital OF the mileage I'm opera
ton in lsS4 equaled IS, 762, ,6I6, $50, against
sS, S,'OS,Oo0,5S3 in 1883, the increase equaling
Ia per cent.
The funded debts of all the lines at the
close or the year aggregated s., 669. II511 a
sum os,235,S5S in excess Of the total OF
1853 (sS, ,oOO,S's,9l4), an increase of nearly
per cent.
The other forms OF Indebtedness Of the
several companies at the close OF the wear
eGuaied s=2i. $50, 5e5, against S26S 925 2S5 for
1853, the decrease being S24,25S,6Sg. The
total share capital and Indebtedness of all
KINDS or all the roads making returns eguaIed
q 'he close or the year S1,s56, 3qs, ,p54. u net
increase in the year OF si9S,5S3,272 over the
tOlul OF 1854 Si,4's,SG5, sS2l, the rate of in
crease Tor the year being about 20 per cent.
Inc cost per mile of al the roads making
return Is measured by the amount of their
s., Icas i and Indebtedness eQualed very nearly
S6I,aUO, against Sol, 500 for 1883.
THE GROSS EARNINGS
OF receipts from Gll lines from which returns
were received for the year euualed S71O. Isl
SIC o. which S@O6, 40, 10l were received Tor
transportation OF passengers; S5U2, ,SG9, 90
from transportation OF freight: S1464 Os9
OS Lines, the returns or which were so incoul-
O. - a. In IL eNa.e a.
giVlng the general reSUltS-thes sources of in
eOire, amount OF tonnage moved etc. and
So5, i49.9gI from the transportation of mails
ana express matter, from investments and
from the sales OF lands applicable TO the pay
ment OF interest or dividends
The gross earnings of all the line. FOR the
year ending Dec. 81, 1883, equaIcd SS23.-
i.2,SSi, exceeding those Tor 1854 by S55.OSs,-
OIo' the falling OF for the year equaling about
6.4 per cont.
The net earnings OF all the lines for 1885
equaied S26s, ,lOG,25s, against S2g3 S61, ,2S5 for
lSS3, the falling OF equaling $50 .O27. the
rate oi increase being about per cont.
The number or persons transported in 1884
10y AL the lines was 33i, SI4, SEQ. against 3I2.-
bS6.6il for lsS3, the increase for the year be-
ing -, l2s,sSS, the rate of Increase equaling
as per cent
mile equaied 2.356 cents in IsS{, against 2 3.2
cents in lsS3.
The number OF tons of freight transported
on our railroads IL lsSl eQualed S9O,O14.T49
against 4OO, ,45S,43S tons in 1883, the falling or
ogualing 1855, $50 tons, the rate of decrease
being about 219 per cent. The value of the
tonnage moved in 1854, estimating its value at
10 per ton, eQualed -. 15l, SOS. 125
Ihe rates per ton per mile for 1884 of
freight transported equaled LIZA cents, against
lS35 cents for lss3, the falling OF equaliug
liz mills per ton per mile. II viii thus be
seen that the decline In the earnings for the
past year was due wholly 20 the reduction in
rates charged.
FALLING OFF IN EARNINGS.
The falling of of the earnings of the
railroads of the country is something phe-
nOmenal. 80 far at least aS their recent his
tory is concerned. In four years, ending
Dec. 81, 1888, the increase of earn
mgs OF all the roads eQualed S29S. 1872, 347,
the average rate of increase being over S75.-
oOO,O00 annually. This vast increase was
due very largely 10 the enormous expen-
diture in the period Of five Years ending with
1883 IN the construction OF railroads, within
which about 10. coo miles Of line were con-
stTucted at cost OF at least 81, POO. 600. 600.
The expenditure was well distributed
throughout the country. and gave an ex-
traOrdinary impulse 10 trade and production
OF every kind. In 1884 only about 1000
miles Of new line were constructed, the
cost of which did not exceed 5000 per
mile, and perhaps not over $4,000 per
mile. OF gross SUN OF from 500. 900. GOO 70
To $40. 1000, 600. From such q decrease In
an expenditure which, In a single wear.
1852, reached $3.50, 600. 600 It was inevitable
that violent shock should be given To all
the great interests of the country.
The following table gives the gross earn
inSs nom freight % six great western lines
entering Chicago for the year 1854:
Road. Gross Earnings
ShiGaso x alton n-----...-....-----. td013,G15
ChicEsO. Burlington & Quincy 1854 4s2
CliessO, Nil~aukee st. Paul. l6,I2S, g64
Onicaso NOrthWeSte IN. .......... l7.617,sG8
Chicago = Rock Island. SO5gslS
Illinois Central. 2l....--............ T,gJ2,Oi3
Aggregate of .S7l. .353. .2g6
The total number of tons of freight car
ried o. the above six roads in 1854 was 81
$40, 5lS. and number OF tons carried one
mile 5,940. no. the rate per ton per
mile being 1.25l cents. The cause of the
falling OF in the earnings of our railroads
was reduction in rates equal TO only a lit
tie over 1 mill per ton per mile. An ad-
ditiaual charge OF that sum per mile on all
the tonnage transported by the railroads of
our country for 1884 would have added
over S44, ,000 600 10 their net earnings.
The most striking feature of the causes
of the long period Of depression which toll
lowed 1873 was the lack of money. The
most striking feature which so far has fol-
lowed the period ending with 1888 has been
the abundance of money. The earnings
Tor our railroads in 1855 will not be much
below those of 1881, and there is every rea-
son TO believe that in 1885 they will reach
their lowest eb0, and that
in 1856 they will show
decided increase over the current year. or
even over those Of 1854. The evils under
which the country now apparently labors is
plethora. not an absence, of capital. and
the problem now before the people is not a
restoration of the waste of the past. but
some disposition of its vast accumulations.
In 1880 there were but % miles of
road in operation in the United States; In
1S4O, 2.Sls miles; in 1850, 9,O21 miles; in
1860. so, 635 miles; in 1870, %. 914 miles;
in 1850, %, $40 miles, and in 1854, 125, $40
miles.
y statement has been prepared by Mons.
Paul TTaSeuSter. showing the lengths in
kilometres ON Dec. 81, 1855, of all rail-
roads in the world, OF which the following
is a statement:
| America. .230, eos Australia. 10. .967
Europe. .1sS,sSi
l ASH -----.--.. 4e,-tfI IOtd IN the
Africa. 5,49I world ..45o, ,36i
During the year ended Dec. 81, 1884, the
number Of miles constructed in Minnesota,
/ Wisconsin and Dakota is shown by the fol-
/ lowing tables, giving the number OF miles
accredited TO each line:
! MISNESOTA.
Miles
Burlington, Cedar Rapids Northern
| Iowa line TO Minnesota line. 55. .A3
/ Duluth and Iron Range-