The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-24
RUMBLINGS OF THE RAIL.
REPORTED EARNINGS NOT Crafty
ING IN THE EXTREME.
They Show an Increase Of Only Per
Cent, While the Mileage Went For
ward at the Rate of o la Per Cent
Miscellaneous.

The monthly statement OF gross earn
ings Of that part of the railways OF the
country which make their earnings public
has not been on the whole gratifying so
far this year, although quite number OF
the companies have shown gains. For the
month OF June l04 roads, as reported by
the Financial Chronicle, give gross earnings
of S25, Ia, 704 against S2l, 49, 07 in 1887,
an increase OF 5000, l97, or a little over 4
per cent, while the mileage covered had
increased from 5S,09l to 6l,S52, an in
crease OF nearly 6! per cent. But this is
not as good showing as that OF May,
when 100 roads gained Sl,4S6, 40, nor as
that of February, when 1903 roads gained
sl,90S, s37, but it is better than the figures
for January and March. Still, OF these l04
roads forty earned less money than year
ago in the same month, although several
OF them had considerably increased their
mileage.
The statement, compiled by the same
authority, OF gross earnings for the six
months ended June 80 OF course gives
much better idea OF the condition Of bust
ness than the figures for any one month,
and this is not as gratifying as could have
been hoped. The earnings Of los roads
for the six months appear TO have been
Sl67, LOG, OIL, an increase OF So 7S5, SIS, or
about 81 per cent, siXty-eight OF the roads
showing gains and forty losses compared
with the same period in 1887. The greatest
gains are as follows: Northern Pacific,
Sl,069, 300 Canadian Pacific, Sl,0i3,G0l;
st. Paul, Minneapolis & Manitoba, $780,
9S5; Mexican Central, 1870; Norfolk d
Western, SI4l, ASP; Chicago, st. Paul 4 Kan
sas City (mostly new road, S364, 202; Texas
& Pacific, S2s2.0il; Richmond & Danville,
500, 2l3; East Tennessee, Virginia d Geor
mostly new road, S257, 3GS; st. Louis,
Arkansas * Texas, S22S, 406; Louisville 4
Nashville, S2l2, $50. The largest decreases
are as follows: Grand Trunk OF Canada,
S7l3, $780, Chicago, Milwaukee & St. Paul,
S640,07l; Chicago & Alton, Sj62, $685. Wa
bash Western, S32S, 522; Milwaukee, Lake
Shore 4 Western, S272, 763; Kansas City,
Fort Scott & Memphis, 1855, 2l3; st. Louis
& San Francisco, sol 1888. II the Can
adian and Mexican companies which are
included in the list are deducted, as they
properly should be, the earnings OF the
roads in the United States for the six
months appear TO have been sl4S, 362, 40,
against Sl43, 6l3 600 last year, an increase
oi SI,7i0,779. As usual, 1t is TO be borne
Il mind that many Of the most prominent
companies in the country are now
represented in this list, but the figures
arc suggestive rs indicating the
comparative earnings Of perhaps 80 per
cont Of the total railway mileage Of the
United States, emitting the foreign roads,
and they indicate that while some compa-
mics are doing well the great majority pre-
sent an unfavorable showing compared
with the unusually large figures OF the
previous year and that the great increase
-of mileage in 1887 has naturally, not yet
begun 10 make the returns which may
eventually be expected from il. While II
Is true that good many roads have re-
duced expenses 80 that the net earnings
will make better relative showing than
the gross, still on the other hand increased
mileage means increased expenses and
there il no likelihood that the net earning.
Of the six months Of our railways as q
whole will be nearly as large as they were
in the preceding year.