The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-08-22
GENERAL NEWS
OF INDUSTRIES

Ut lNDU0lnl[0
Writing in the Reviews OF Reviews
about the Financial Standing of Rail-
roads," Professor Adams says: "Ae-
cepting railway construction is an indi-
cation Of the condition Of the railway
industry, the period through which we
are now passing shows greater depres-
sion than any previous period. The in
crease in new mileage brought into
operation during the fiscal year 1899
was less than during any year since
1850. while the percentage increase
stood lower than for any previous year
since the beginning Of railways in
this country. Thus the rate OF in
crease from 1885 to 1887 was 0 OS per
cent from 1887 to 1888, 605 per
cont from 1883 to 1889, % per cent;
from 1889 to 1890, IS per cent; from
1890 to 1891, q 94 per cent. from 1871
TO 1892, SS per cent. and from 1892 to
1893 2 so per cent. These figures show
remarkable depression in the business
of railway construction Another fact
emphasized by railway writer's is the
large amount Of mileage placed in the
hands of receivers during the past
eighteen months. Thus 49, 900 miles
of lines have been placed under the
protection OF sthe courts, an amount
equal 10 "a per cent. of the total length
OF line.
Railway development is now seeking
asouthern cline. The Rochester Post
Express says: IF the ambition OF the
men who are most interesting in the
future development and growth of the
Southern is attained. it will become
the greatest system IN the civilized
world, and completely control all traf-
tic matters in the south. These men
have the power. influence. brains, en-
terprise and determination, as well as
the financial backing, which il the
most important of all. to carry out
their scheme, Notwithstanding its
stupendous character. According to
the latest reports, over 8 900 more
miles of road are yet to be added to
the 4. 1898 miles already In the system.
1t is confidently believed that
the Central of Georgia with
ltb SIOUU ulleS VIII Oo do-
sorbed, although Receiver Corner
has said that it will be operated inde-
pendently, while being controlled by
the Southern. 1t is also said said that
the Queen and Crescent, with ,101
miles of track, so clearly identified Tor
long period with the east Tennessee,
will likewise eventually pass into the
hands of the southern people. The
New Orleans aud Northeastern. with
1876 miles of road; thu Alabama and
V burg, with 14O miles and the
Vlcksuurg, Shreveport aud Pacific with
176 miles, are said to be slated for the
Southern, and It'll certain the Alabama
Great Southern will fall into the hands
of the Southern under the foreclosure
sale which is appointed for Ang. %
The fact has heretofore been noted that
Samuel N. FELTON,, jr,, president and
receiver Of the Cincinnati Southern, has
been offered the position OF the first
vice president of the Southern, which
ls still vacant
In commenting on the business situ-
alton and the decline in prices of el-c-
trical apparatus, the Electrical Re
view, says: six years ago the price for
complete equipment for trolley Car.
inclnding two motors, was about
"a 500 The price held for veer and
half, and then dropped to So $50, SO. 500
aud So. 300 until two years ago IL WAS
about 2 $50. One year ago 81, 900 was
the price of the same equipment.
greatly improved in quality ana eff
cheney. while today the average price
is between 81 900 aud 81, 2OJ. We nave
been told OF an electric railway mana
ger who desired quite recently to
purchase an equipment for a
single car. He wrote to
seven manufacturing companies, and
Immediately was called upon by seven
statesmen, all Of wnom had paid travel
ing expenses to try for the order, The
prices quoted ranged from $1,000 to
SG4O. The manager bought the S640
apparatus. Here we have decrease
in actual selling nrices from 81 500 in
1888 to $640 in 1894, period OF six
years. Iu 1888 there We're seven cleo
trio railways in the United States. In
January, 1890 there were 1862 electric
railways in operation and in process OF
construction. Iu January, 1891. this
number had grown 70 2S1, while today
there are probably over 500 cities in
the United States equipped with cleo
trio roads, many Of them of great
mileage, as in Boston, Brooklyn, St
Paul, Minneapolis and Cincinnati.
This marked reduction in the price
of railway apparatus during the short
period of six years is due largely to
competition between manufacturing
companies. but chiefly to reduction
in the cost Of manufacture, accom-
panied by an increase in the quality of
the product. The margin of profit on
the equipment men toned at 81 500 in
1888. was not as large rs it was on
better equipment at $2,S50, in 1892,
owing to- the reduction inthe cost of
the manufacture. While prices have
been fsarfully cut during the last year
by all the manufacturing companies,
partly due to intense competition and
partly to the business depression, we
do not believe'that any company can
make and sell satisfactory car equip
ment for $640 and clear profit on it, "
MINOR INDUSTRIAL NOTES:
1t isannounced that the Lehigh Valley
shops at Weatherly are to become the
property Of the Baldwins, Of Philadelphia,
These shops ara filed with the finest kind
OF machinery for locomotive work. Since
the strike on the Lehigh Valley road little
work has been, done there.
The Ontario and Western railroad enjoys
the unique position of being able to report
increased earnings for the last fiscal year
in spite OF the hard times. 1t statement
for the year ended June Both, shows an in
crease Of Sl53,9i5 in gross earnings and,
by 1udicious reduction of operating ex-
penses, an increase of !S2l9G3l in net earn
ings.