The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-12-18
RAIL AND CROssTIE.

W. A. Sumter of tho auditing depart
mont of the Savannah, Florida and Western
railway OF this city, will leave Savannah to
accept similar position with the same COM
pany at Albany. Mr.. Sumler gave an en-
tainment this week at his residence on Jones
street.
The negotiations for the purchase by the
Louisville and Nashville of the Kentucky
Central, which have been progressing for
several weeks, says the Cou rieT-Journdl
have finally been co lcluded, and on Jan. /,
1891, the road will pass under the control OF
its new owners.
The Birmingham Netos says: The many
friends of Dave G.. Hail, passenger agent of
the Central railroad of Georgia in Bir-
mingham for the past few months. will
regret TO hear that he has left permanently
for Atlanta, his old home, where he ex-
changes places with H. 8. McClesky.
Trains on the Georgia, Carolina and
Northern railroad are now running to the
Savannah river. The foundations of the
bridge across the river are completed, and
the iron bridge will be put up as soon as the
workmen can do it. TIE road will be in
working order to Elberton in a short time
General Manager Gabbett of the Central
railroad has returned from Atlanta. To a
MORNING News reporter he said yester-
day that he knew nothing of the reported
changes In the Central railroad except what
he had seen i'll the newspapers, and he knew
of no foundation for the rumors. He said
Gen. Alexander would probably return
from New York Friday.
The American BGnlcer of last week has
some interesting and highly important
statistics in the shape of q summary of the
earnings of the railroads of the country as
set forth in the annual report of the
interstate railroad commission la
the report before u.s. says the Banker,
the total network of our railroad system
which is officially reported amounts to 1884,
$50 miles. This is represented by SO, 1897. 600
600 Of securities of various classes OF which
SITS, COG. 900 belong to the holders of bonds,
and 80, 62l, 900, 900 to the stockholders, who
own the 1,7o5 distinct roads Of which the
great network is composed. The total ag-
gregate Of the dividends and in erest
paid last year on this extensive railroad
property amounted to 1882 100000, of
which SSS, 900, 900 were divided by the stock
holders, and $l94, 000, 900 were paid as i'm
terest to the bondholders. No less than
$50, 900, 900 Of our railroad shares earn div
idends of 10 per cent, or over to 10 per
cent. is paid on $l07, 000, 900; from to s
per cent. on $3690)0. 900; from to 6 per
cent. on 1897 100000. and from 3 TO 5 per
cent. on S427 100000. Ii we turn to the
bonds we find that interest is paid at 10 to
Ii per cent On S2S, 000, 900; at 3 to 10 per
cant. on 1900 900; at to per cent on
81, 273, 900 900; at TO 6 per cent. on sl.095,-
900: and at to 5 per cent. on $685.. 000, 600
On the whole S4,251, 900, 900 Of stock the
dividends we're $50, All, 095, and on the
whole 81, 261 ,000, 900 of bonds the interest
paid amounted to s194. 500. 023. Now what
strikes the observer Is. first the unequal dts
tribution of this vast annual sum OF $685.
0O0.0J0 a year among the owners OF
railroad property in the United
States. OF the whole s., SIS. 900, 900 OF stocks
and bonds there are So. 397, 0J0 900 on which
nothing is paid. On the remaining s., 49,
0oo,000 es we have seen, a return in tue
shape OF dividends or Of interest ia paid
yearly ranging from less than per cent. to
II per cent. aud above. IL the entire sum
Of s282, 900 900. which is distributed among
the owners OF the property, were equally
divided among the owners OF shares and
bonds Ia proportion 10 the value OF their
holdings, what would each receive. An
sasF cal9u alton shows that the po rata
distribution would be 3. 81 per cent. ysar.
This would be the result Of distributing b
tho ss,el5, ,0Ob Of bonds and stock al Az
edual rate, the whole earnings Of our rail
road network. II we distribute the tss.-
000, 900 OF dividends ca the stock equally %
all hshers Of shares Zach person would ges
207 per cent.