The sun., 1894-12-10
RAILROADS FELTTHE HARD TIMES.
Decrease In Net Earnings OF About S5o-
100000 During the Past Year.

WASHINGTON. Dec. 0.-The Interstate Com
merce Commission has just issued preliminary
report on the income and expenditures OF rail-
ways in the United States for the year ending
June 30, 1894. The report contains the returns
from $40 operating companies. whose reports
were filed on or before Nov. %, 1894, and covers
the operations Of l49,559.2l miles OF line, or
about IS per cent. OF the total operated mileage
in the United States.
The gross earnings from the operation OF the
l40,559.2l miles OF line represented were So40
039,075. of which 5000. l37, ,l42 from passenger
service, SBl7 sos, ,i9S were from freight service
and S22,+2O 20S were other earnings from
operation, covering receipts from telegraph, use
OF cars, switching charges, dc. The operating
expenses were $643, 3,42s,33l, leaving net earn
ings OF S300,2l074+. Reduced to n mileage
basis, the earnings from passenger service were
S2.Od7 per mile of line: from freight service
s4.l3?: total. SG,350; operating expenses,
S4,3O2; net earnings, s",O4s per mile. A COM
psrison Of these items with the previous year
shows decrease per mile of line in earnings
from passenger service OF $50. In earnings from
freight service OF S774, in total gross earnings
OF $50, In opSrssting sd.g expenses OF s574 and In
The number of passengers carried was 5O5,-
2S0,44O; passengers carried one mile, l2.SSg,-
o30,5IS. Number Of tons carried was SCI ,O55-
s42 tons carried one mile. 20, i26. .3+4 OB5. In
order To slow the volume OF traffic for all the
teen or fifteen per cent. To mpare the density
or traffic with the previous year these figures
are reduced 10 mileage basis, which shows the
number OF passengers carried one mile per mile
or line TO be SB,253, as compared with 81 800
in 1893. That there has been an increase In
passenger traffic, regardless OF the commercial
depression, is due to the unusual amount nf
travel u July, August September, and Octo-
Der, 1893, on account OF the Worlds Coum bian
Exposition. The number OF tons carried one
mile per mile OF line was 40, 1893, as compared
with 55l, ,232 for 1898. These figures show the
decrease in the volume OF freight traffic occa-
stoned by the decentralization of business
throughout the country.
The net earnings available for the payment OF
fixed charges and dividends was S3O6, 6,9lO, 744
as against $3.50, 1O6, ,GO7 for the same roads for
the previous year, decrease Of $44, $50, ,StI. IL
Is probable that the decrease In net earnings OF
all the railways will exceed $50. .OOO. 900. The
dividends paid were Sh2, ,I6i. .90l as compared
with 500 100 for 1893. After the dcduc-
tion of dividends 10 Is found that there is n de-
hclt OF S2S,O32, ,O2l. This fact shows that part
Of the dividends were either paid out OF the ac-
cumulated surplus OF past years. or that their
payment necessltated an increase in the current
Indebtedness.
Regardless OF the decrease in traffic there has
been decline In rates during the year. the
average receipts per passenger per mile being
1.Ol6 cents as compared with 2,l0S cents in
1893 and the average receipts per ton per mile
1866 cent as compared with .S7S cent In 1893.