The times. [volume] (Richmond, Va.) 1890-1903, 1891-03-15
Railway Empire.

Prior ~ 1854 the last year of the great civil
war the United States had never collected m
a single year so large revenue as the Penn
svlyania railway system collected during the
calendar year 1890. It's gross earnings We're
sl33.5 SOB. while the revenue Of a nation Of
over thirty millions of inhabitants had never
been more than about Sll2OOO, 600 until l7di
even during the years OF civil war, and prior
10 the war had in only three years Of It's
whole history been half as large as the earn
ings of the Pennsylvania railway lust year
In these statements are included all parts If
the Pennsylvania system, west as well as east
of pittshurg. The system is an empire IN IT.
self. vastly more important than many en-
pirc- in the work which n performs IN the
part which IL plays IN the business and indus
ny of tie world. IN the wealth It represents
controls and has accumulated. and In the rev
euuc 10 collects. II Is scarcely necessary 10
add that this system Is lucOucelvably better
managed that most empires.
Considered n one great property this is in
some respects the most remarkable known
among men. What other property under a
single management anywhere returns ~ Us
owners net earnings of "a. jlS2jS for a single
year. after paving y OO3. 325 for expenditures
of the year, What other property anywhere
transports ina single year 81 900 600 Of persons
and l37 900 600 tons of freight. It's ton mile
age reaches the enormous aggregate Of
1868 millions tons per mile, having increased
nearly 81 per cent. NlL4ll lIlr past lbuI NtdA -
It's passenger traffic includes 1893 O0O. 900
passengers one mile m a single year, and The
increase in four years has been about % per
cent. At the end Of the year this corporation
held in actual cash over slO.0000O0 which
seems a pretty large sum 20 have idle.
especially If one remembers that only little
while ago grave statesmen We're complaining
because the United States Government would
not leave itself with an available cash balance
only about a. large. But il IS to be observed
that when a road spends about 500 600 600 IN
a single year its monthly payments must re-
qure very large sums on hand. and II l. stated
that the pay rolls and vouchers due in the
month Of January amounted to no less than
s735242j
President Roberts observes that net earn
ings on this great system have been lncreas-
lng at a much smaller rate than gross cam
ings. particularly east Of PittsbuIg and Erie.
and attributes this result 10 the lower rates
received for transportation during the year
1880. The average charge for all freight east
of Plttsburg and Erie was but $50 thOusandths
of a cent per ton per mile, and the average
cost of moving a ton is said 10 have been but
.4G3 thouSlndths OF cent per ton per mile.
There has been revolution in modes Of
transportation. and in devices for economic
ing the movement OF freight since that time.
and 1t is perhaps not more clear now than II
was then that the end has been reached.
though the experience and opinion OF Presi-
dent Roberts are unquestlOnably worth more,
as authority on such points, than the decara-
tons of almost anybody else.-New York
Commercial Bulletin.