The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-17
Deficit of Sf5,0f2,Of4 EntaiIed in Or
der to Maintair the Normal
Dividend Payments.
GROSS EARNINGS FOR 1894
DECREASE OF s147.30O,O77 CUT
DOWN BY REDUCED EXPENSES.
One EmpIoyc Killed Ont of Every 42S
and One Injured Out of Every
Thirty-rhree.

| WASHINGTON, June l6 - The seventh
statistical report of the Interstate COM
nerce Commission for the year ending June
30, 1894. has just been submitted. In the
| introduction especial attention Is called to
the peculiar conditions affecting the opera
| ton of railways during the year. First, the
1 report covers the last four months of the
| Columbian Exposition. during which time
| there was an increased passenger traffic.
| Second, it covers a period Or widespread
and unprecedented business depression.
| Third. on June so. 1894. 1872 roads, operating
upward of 1900 miles of line and represent
inb about one-fourth Of the total railway
| capitalization, were in the hands of re-
| ceivers. The effect of these conditions is
| apparent in nearly all of the figures pre-
| sented.
The total railway mileage in the United
States on June 30 1894, was 17S,70S, an in
crease during the year of 2.2i7 miles. The
increase during the previous year was
! 1891 The percentage of increase during
1894 was less than for any preceding year
for which reports have been made 10 the
| commission, and it is not probable that the
year ending June 80, 1895. will show much
| Improvement. The number of roads aban-
doned was sixteen. The total mileage. of all
| tracks was 233,JS3 miles,
The total number of railway corporations
on June 30. 1891, was 194, an increase dur
ing the year of twenty-five. The number of
roads not in operation was seventy-seven.
The movement of consolidation during the
year, on the basis of mileage involved. has
been greatest in four years previous; fif-
| teen roads, representing 1,73f miles, have
been merged; twenty-five roads, represent
4 ing 2,352 miles, have been reorganiZed, and
| fourteen roads, representing 1880 miles,
| have been consolidated. A classification of
railways, on the basis of operated mileage,
shows that forty-four roads, with mileage
1 16f over 200 20 miles. operate 1Oo5 "a. miles Of
| or the country; ninety roads operated l2.9D
per cent. of the entire mileage;
June 80 1884 the .ns total number , OF loGoo CO.
year of 70i. Total number of cars re-
| ported was 1,27S.0e0. The increase in the
number of cars during the year was 4,lS2,
! as against an increase of is S64 during the
| previous year This falling off in the ratio
of increase is due TO the fact that the
railways have during the year destroyed Dyed
| ing the year 1873 locomotives and 30SSo
! cars were fitted with train brakes. and
11g locomotives and S4,ls6 cars were fitted
| with automatic couplings. There is 74.S1
! per cent of the total equipment still with
! out train brakes and 7e.77 per cent. without
The total number of railway employees
| on June 80. 1884, was 1868 q decrease as
compared With the number on June 80.
1898. of 1924, or 1916 per cent. This is
| smaller number employed than in any year
since 1880. This decrease is due. the report
states, to the heavy falling off in traffic
| and the endeavor of the railways to econo-
! mize. A new feature in this report is
! table giving a comparative statement of
| the average daily compensation of the va
| riouS classes of railway employees: For 1892,
1898 and 1894 il was Sl0 1876. 1858, or S6295l
| per mile of line. This is an increase in the
| amount of outstanding capital during the
n
stock was $ S2i 075 $50. of which A, ,103. .5S41 146
was common stock and $3.50. 491 493 was pre-
ferred stock. The funded debt was sS.356-
5s3.0l9 The amount OF current liabilities
| was s6C5. .S15. 1885, The amount of railway Sc
| cvrities held by the railways as an invest
| ment was 81 54. .05S.67O, a decrease during
| the year of $1S,96S 563.
! The amount of stock paying no dividend
! was 50, ,066, ,150094. or 64.43 per cent. of the
was s95.575976, or an average rate on the
dividend-paying stock of 5.4 per cent The
| amount of bonds paying no interest was
| S65O,573,IS9. The amount OF miscellaneous
| obligations paying no interest was $53 49,
2s4. and of income bonds paying no interest
was s2lO, ,757,554
e1e.6sS 1a9 an increase over the previous
| year of 2s,127,5S7, and was occasioned by
the worlds fair travel. There was large
| tons carried being $780, 1858, as against
745,11s,4S2 in 1893, decrease of l06, 1923
tons.
The gross earnings of the railways for
| the year were s1,073, ,36l 1871. a decrease as
| compared with the previous year of S147,-
l42,25S, and the revenue from freight traf-
fc decreased a29. siS I'll The :, amount am of
G sGs @ q was S ner cen ae
of decrease was in the operating expenses
assigned to maintenance of way and struc-
tures; and and to antns~ maintenance Oh equipment; IT,
1512 and 17.72 per cent. The net earnings
were sa4l ,s47; as. decrease of $50 sss 100 as
compared with the previous year. The in
come derived from sources outside of opera
tions $142.S16s05: The amount of fixed
charges and other deductions from income
1890 available for dividends. a decrease
as compared with the previous year of
nearly 80 per cent; T The s.. amount Of div,
only s5,353sOs from the amount paid the
previous year. The fact that nearly the
withstanding the great decrease in income
available for them 49,, ana that that
stated entailed deficit from the
operations of the year of SIS. .9l2 0ii, is noted
The revenue derived from the carrying of
passengers was s2S5. 3i9, aSS and the revenue
During the year 1923 railway employees
were killed and 23.422 were injured COM
pared with 2.72I killed and Sl,l79 injured in
1893 This marked decrease in casualty is
part due, the report says, to the decrease
in number of men employed and decrease
in the volume OF business handled. The in
creased use of automatic appliances on
railway equipment also may have rendered
railway employment less dangerous. The
crease OF Twenty-Five, and the number in
jured was 1904. a decrease of 1e5. To show
the ratio of casualty. it may be stated that
one employe was killed out of every 42S in
service. and one injured out of every thir-
ty-three employed.
In concluding the statistician renews the
recommendations made i'm previous reports
in regard 10 the desirability of requiring
annual reports from express companies,
coz porations, companies and persons own
ing rolling stock used in interstate COM
merce; corporations, companies and persons
owning depot property, stock yards and ele-
vators used by interstate carriers and from
carriers by water that compete with rail-
ways for traffic. Reference is also made
to the question of requiring the railways
TO report freight earnings by commodities.
on account of the present depressed finan-
cial condition of railways it has been de-
cided TO let this matter rest another year.
although there is no question to the
desirability of such reports
THE RESERVE CRAWLING UP.