Los Angeles herald., 1892-01-24

differences in the capitalization of rail
way property in various sections OF the
country. In the middle states, group
III, for example, railway capital is cut
standing to the amount of $117,002 per
mile OF line. In California, Oregon,
Washington, and other states and terri
torities constituting group X, railway
capital is outstanding to the amount OF
$S7 ,1O4 The roads which converge in
Chicago, lying east of the Missouri
river, that is, group vi, are capitalized
at $47, ,645 per mile Of line, which fairly
represents the capitalization in the other
sections of the country, exclusive OF the
Middle states and the Pacific slope.
The capitalization of railway property
is largely in excess of it's market value.
The interest on railway bonds and the
final net earnings available for dividends,
may be accepted as the amounts accru-
ing to the owners of railways on their
investment. The amount paid in in
terest was 1929 ,614. 40; the final net
earnings were $10l, ,75S ,5S7. If the sum
of these amounts be capitalized at 5 per
cent, it shows that the value of railway
property, considered as an investment,
estimated on the operations of railways
for the year ending June 30, 1890, was
SO. .627 .46l lao, which is equivalent to
$40, ,374 per mile of line.
PUBLIC SERVICE OF RAILWAYS.
The number OF passengers carried by
the railways of the United States during
the year was 492, ,43J J,S65. The NUMBER
of passenger miles, this is to say, the
aggregate number of miles travelled by
all passengers, was IL ,S47 ,7S5.6l7 This
ch0wo on oyoraUo io1rpau Nf ne ~, ilac
per each passenger. Passenger train
mileage for the same period was 1885,
565, 800, showing the average number of
passengers carried in train to be fl.
The number OF tons of freight carried
by the railways OF the United States
during the year covered by the report
was 636 ,541 ,6l7; the number of tons car
ried one mile was 76,20O 047 1898. This
shows the average haul per ton to have
been 1l9 72 miles. Freight train mileage
was 435, l60,Sl2, showing the average
number of tons per train to have been
175 II.
The number OF passengers carried one
mile per mile of line for the railways of
the entire country was 1881. The
number of tons of freight carried one
mile per mile of line was 4S7 ,245. These
y u.
If corresponding figures be given for the
various groups into which the territory
of the country is divided, it shows that
the number of passengers carried one
mile per mile of line in the New Eng
land states, group L, was 233, $50, and
in the Middle states, group III, 1S3, ,121.
This shows the greater density of pas
senger traffic in the districts named.
The number of tons of freight carried
one mile per mile of line in the Middle
states was 1,34S, l07, and in Indiana,
Ohio and the southern peninsula OF
Michigan, group Ill, it was 1872
1885, in the Gulf states, group
V, 1T was 3O4 1886; and on
the Pacific slope, group Y, it was
l91 ,S06. These figures show how diverse
are the conditions, so far as density of
traffic is concerned, under which the
railways in the various sections are
operated.
The revenue by passenger per mile of
line for all the railways in the United
States was 2 1877 cents; the average cost
of carrying one passenger one mile was
1.9l7 cents. The revenue for carrying
ton OF freight one mile was .941 cent !;
the cost OF carrying ton of freight one
mile was 1904 cent. The revenue from
a passenger train run one mile on all
the railways in the United States was
81 0S041 the cost of running pas
senger train one mile was S09S4 cents.
The revenue from a freight train run
ming one mile was 81 65434; the aver
age cost OF running a freight train one
mile was $1.05.711. These figures show
the margin from which railways must se-
cure their profits in the business of trans
porting passengers and freight. The
revenue per ton per mile and per pas
senger per mile differ greatly in the va
rious sections of the country. The low
est receipts per ton per mile are in the
states of Indiana, Michigan and Ohio,
group III, being .695 cent. The highest
rate OF revenue is found on the Pacific
slope, groupe X, it being 1.651 cents. The
lowest receipts for carrying passenger
one mile are found in the New England
states, group |, being 1912 cents. The
highest receipts for carrying passenger
one mile are found in Louisiana, Texas
and New Mexico, group IN, being 2 $50
cents. These figures represent the av-
erage of charges and not the rates on
any particular commodity or for any
particular trip.
ACCIDENTS.
The total number Of persons reported
by railways as killed during the year was
1894, and the total number reported as
injured was 29,O25. OF the total num-
Der killed 245l were employees, 2S6 pas
sengers and 3597 were classed as ''Other
persons" In this latter figure are in
cluded the large number of suicides. OF
the total number injured 22, 1914 were en-
ployees, 2425 passengers, besides 1906
unclassifed. If the number of employees
killed be assigned to the total number.
it appears that one death occurs for
every 500 men employed on the rail-
ways, and one injury occurs for every 33
men employed. The largest number of
casualties occur to men engaged directly
in handling trains. Thus, while train
men represent but 20 per cent of the
total number of employees, the casual
ties sustained by them account for So
per cent of total casualties. A passen-
ger riding continuously at rate of 80
miles an hour might expect immunity
from death by railway accident for l5S
years.
Strong Witnesses.