The Washington critic., 1888-09-08
WASHINGTON, SEPTEMBER s, 1888,
OUR RAILWAY SYSTEM.

INC INTRODUCTION 10 IOOT MuHuHl
of the Railroads of the United States for
1883" has been received, and although
but a preface, as 1t were, to the Manual
itself, it contains n mine of information
relative to the railroad development of
the country during the past year, and in
general way covers the whole subject
concisely and instructivcly.
The showing made, taking the various
groups of States and Territories together,
is highly satisfactory-to many people,.
no doubt, will be found surprisingly so;
but the tendency to improvement that
was predicted by the Manual in 1886,
following the depression of 1885, has
continued In marked decree, and the
further prediction is now made, based
upon comparative earnings of series of
years, that "the country is about to enter
upon an era of prosperity which can be
checked only by some extraordinary and
unlooked-for industrial or political con-
vulsion."
The most marked gains in railway de-
velopment have been in the middle
group of States. comprising New York,
New Jersey, Pennsylvania, Delaware,
Maryland and West Virginia, the net
earnings of this system of roads showing
an increase in 1887 of $7S71 AGO over
1856 and $29, ,25S, ,2S7 over 1885.
Returns from the South continue to be
remarkably gratifying and encouraging
the mileage of roads in operation having
iporooooJ 1 900 ovor tha total 80 1OQn ooI
their net earnings exceeding those of the
year before by over $4,000,00O.
In the West there are S2,367 miles of
railroad, an increase in one year of s.
712 and the net earnings of these roads
have risen from S149,035,711 to $751;
462,07S.
Referring to the New England group,
where conditions are likewise reassur-
ing, we are informed that the relatively
large increase in net, as compared with
gross earnings, demonstrates notable
progress in the science of railroad man
agcment.
In the Pacific States there has been an
increase in mileage of 2,066 and in net
earnings of $4, 607, 1913.
The capital stock of all the roads in
the United States in 1886 aggregated
about four billions of dollars, of which
5S per cent. was classed as non-produc-
tive, and the dividends paid that year
were only $S0.094, 1873, or 2 per cent. of
the entire capital The renewal of divi-
dend payments is becoming noticeabl
the past year. showing an increase of
per cent. in total amount paid.
The bonded debt the same year was
$3.50, ,402, $50, 80 per cent of which is
given as productive and on which inter
est was paid to the amount of $175 594,-
900, or little over per cent. The
amount paid for interest in 1887 averaged
per mile trihc less than in 1886, but
this is ascribcd to the large amount of
new securities issued during the year on
which only portion of interest accrued
and was paid
The total length of track laid up to
December, 81, 1887, was l49, ,912 miles, an
increase of 13,0S0 miles for the year
There were 4aS, ,225, ,5l3 passengers car
ried who paid an average fare of 2.276
cents per mile, or an aggregate of $240,
542, ,S76, ,-25. 50 per cent Of the total earn
ings of the roads; while freight receipts
amounted to $636, ,666, 223.
All which are stupendous and interest
ing figures, and the more they are
studied the greater grows their interest,
and one ceases TO wonder that the rail-
road system of the country has become
TO great extent the barometer of its in
dustrial system and an influence of in
calculable possibilities for the future.
The report now is that Mr. Clcvelond
intends to give his letter of acceptance to
the rress on Saturday night, but the fact
that such a report Is cut gives reasonable
cClor ID the belief that the President will
not verify it, Various suIniscs are in
dulged in as to the character of the letter;
but we see no necessity of surmising any
thing about it, II is very CERTAIN that the
letter will reiterate the views that have
been already so tcrsely expressed, both as
10 the tarif and the retaliation policy.
SOMETHING is the matter with the Gin.
cinnati Commercial Gazette in its edito-
rial department Its issue of Thursday
contained two reports of the Thurman
reception in New York, one signed Col.
Fred. Mussey and one unsigned, and they
were in adjoining columns. Colonel
Mussey stated in his that Judge Thur
mans reception was funeral process
sion; that the ''silence could be cut in
Slices" that only several large Demo.
Gratis rode in the carriages" and that
the Judge was pale and weak" In ap-
pearanoe and his steps feeble and tot
tering." The other report. headed "Thc
Old Roman Arrives in New York in
Good Form" states that enthusiastic
citizens crowded about the car" ga crowd
of two or three thousand blocked the way
at Jersey City and cheered continually;
"a crowd of shouting men and boys KEEP
pace with the carriages as they drove VI
town." "the Judge stood the trip in TIT
way he seems to stand travelling, benl
fresher az the end Of the day than til,