The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1894-06-21
RAILROADS IN MEXICO.
SOME OF THE DIFFICULTIES THEY
LABOR UNDER.
Their Investments are All on Gold
Basis, While Their Receipts are in
Badly Deprecated Silver-The
Tchauntepec Railway.

WASHINGTON, June ia chapter
on Mexican railways, compiled from
information derived from various
sources, forms an interesting feature
of the report of the staIiclan OF the
department of agriculture for June.
The number of miles of railway con-
structed in Mexico Is put down at
1887. Their present condition Ia re-
ierred to in the recent report on the
effect of silver in Mexico by Lionel
Garden, British consul at the capital
city. He says that the bonded in.
debtedness of the Mexican Central
and Mexican National railways alone,
without taking into consideration any
of the others, is greater than the total
reign debt of the republic.
AS this represents gold investment,
while the earnings of the railways
are all in silver dollars the deprenia-
ton OF silver very seriously affects
the interests of the bond holders. The
depreciation of silver has also been
felt by the railway companies in the
increased cost of that part of their ex-
penditure which has to be paid at
gold prices and which Is estimated on
most of the lines to constitute about
one. third of the gross expenditure.
BY comparing the returns of these
two railways for the year 1892 with
those of 1889, the consul says there ie
an increase in gross earnings of ~ per
cent and in net earnings OF 80 per
cent, both in Mexican currency.
"Taking everything into considera'
tion,u he continued, "We shall be
well within the market in considering
the increase of 33 l-2 per cent in net
earnings in four years, or say about .
per cent per annum, which may be
counted ON from year to year and
which is attributable to the general
progress of the country and the de-
velopment of its resources. Such an
annual increase would more than
compensate rise in the premium on
gold of 10 per cent in each year.
Concerning the railway across the
Isthmus to Tehuantepec, the statisti'
cian's report says that the concession
for it's construction is now held by Ed
ward McMurdock of London.
The popularity of this concession is
that instead of passing into the bands
of the government at the expiration
of 80 years from certain fixed date
like other railway concessions in Mex
leo it becomes tho property OF the
government as soon as completed
The line will be completed In few
months. 1t is destined to connect the
Atlantic and Pacific oceans by cross
ing the Isthmus of Tehuantepec from
Coetzacolos on the Gulf Of Mexico 10
the port of Salina Cruz, on the Pacific
coast. Some 20 miles in the center OF
the isthmus still remain TO be con
structed.
When the important work at the
port of C0aiZacoalcos, on the gulf, are
finished, which are now under way
at On estimated cost of $4 300, 600, with
a view to accommodate maratimC
commerce and the completion OF the
building of long iron peir at Salins
Cruz, on the Pacific, it 10 expected
that within four years seagoiDg yes.
sells of large class will be able t
anchor in the port and that the mara
time of the United States and Mexico
now carried on by way of Panama
will be saved distance Of more thar