The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1891-12-02
ANNUAL REPORT
Of the Interstate Commerce Com
mission on
UNITED STATES RAIL WAYS.
Total Length Of Tracks, Iucluding Sid
ings and Spurs, is 100000 Miles.
THE CAPITALIZATION OF.
STATES RAILWAYS.
THE CAPITALIZATION OF

1 i
Il sex Market Value.
WASHINGTON, Nov. 80 Tho third an
nual report from the Interstate com
merce commission on the statistics o.
railways in the United States" which
covers the operations Of railways
for the year ended June 80, 1890
was given to the press last night II
shows that railway mileage in the
United States on June 80, $780, was
168,5s7 miles; the increase in railway
mileage brought into operation during
the year was 6,03O miles The total
length Of track for the United States,
including all tracks, sidings and spurs,
is 100000 miles.
The number Of railway corporations
on June 80 1890, was 1,797, OF these 81
are classed as private roads with total
mileage of SIG miles Nine hundred and
twenty-seven of these corporations are
operating companies, and 1856 are sub
sidiary companies Twenty-Five com.
panies, representing mileage of 1,646
miles, were reorganized during the year,
and 80 companies representing mile
age OF !, 1,905 miles, merged their corpor-
ate existence into other corporations
Fifty companies, representing mile
age of 6,l96 miles, were consolidated
with other companies. Thus 8, 1o1 miles
OF line during the year disappeared as
independent companies
The 1856 404 miles OF line which is
made the basis of statistics in this re-
port is represented by railway capital
TO the amount of 50, 459, ,444, l72, which is
equivalent to $50, 4s1 per mile of line.
Assuming that the remaining mileage
is capitalized at the same rate, the total
capitalization Of railway property in
the United States would be 50, 89x, 483,
400 The increase in railway capital for
the year ending June 80, 1890. over rail-
way capital for the previous year, IL
s444.2os, 79S OF this amount $3.50, 0o0. 900
at least Ia due 10 the increase in capital
ization on lines already In existence.
The capitalization Of railway proper
~ Is largely in excess Of its market
value. The interest on railway bonds
and the final net earnings available for
dividends may be accepted as tho
amounts accruing 70 the owners of rail.
ways on their investment The amount
paid in interest was s226, All, 937; the
final net earnings were Slo6, ,967. os4 II
the sum Of these amounts be capitalized
at per cent II shows that the value Of
railway property considered as an In.
vestment estimated on the operations
Of railways for the year ending June
80, 1890, was s8,667, Tia 40, which is
equivalent to $40, ,6sl per mile Of line.
The number Of passengers carried by
the railways Of the United States dur
ing the year was 492, 4So,SeS The num-
Der Of tons Of freight carried by the
railways Of the United States during
the year covered by the report was
e3e,44i,6l7, the average carry per ton
having been 11a "A miles
The total number of persons reported
by railways as killed during the year
was $3.50, and the total number re-
ported as injured was 1904 OF the
total number killed 2,45l were en-
ployes, 2S5 passengers and 1854 were
classed as ''other persons" OF the total
number injured 81 800 were employees,
e,444 passengers, besides 1900 unclassi-
fed
The report suggests that the law be
amended so far as statistics are con-
cerned in three particulars. II suggests
first, that statistics be collected from
express companies, which under the
present Interpretation OF the act are
free from control That the commits
sion should have the right to call for
reports from corporations engaged in
the transportation Of passengers and
freight by water. In 1889 the great
lakes carried freight which was the
equivalent of 81 per cent Of the ton
mileage on all railways That reports
be called for from all companies fur
nishing rolling stock 10 railway COM
panies anu from all companies pro-
viding terminal facilities These com.
panies own an enormous amount Of
property. which is properly devoted TO
the business OF transportation. II is
impossible TO make a complete exhibit
Of the business OF transportation except |
that they make report.