The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1895-07-04
RAILWAY CONSTRUCTION.

With the better outlook for a general
as we'll as permanent, improvement in
the business interests of the country, the
average investor and speculator in rail-
way stocks and bonds is beginning to
turn his attention toward a question
which in former years played highly
important part in regulating the course
of values, but which OF recent years has
cut very little figure in the financial or
commercial worlds. This question is
none other than the railway construction
of the country, which. comparatively
speaking, has been practically at stand
still for the past two years. but which
now bids fair to assume much more
active proportions, as the chances for a
lasting revival in general trade and man
ufaeturing industries seem to increase.
1t is well known fact that the year 1894
in the matter Of railway construction was
one of the poorest in the history of the
country, as the new lines built during
that period amounted to only ,948 miles,
which was the smallest total since as far
back as 1875, in which year the construc-
ton only reached the insignificant total
OF LII miles. It is an equally well es-
tablished fact that the heavy falling off
in railroad binding last year was simply
and solely the result OF the depression
into which every class of business had
fallen, so that now that nearly all other
branches of business are affording unmis-
taxable signs OF recovering from the
lethargic state into which they had been
plunged it is but natural to expect a re-
dictionary movement on the part of this
most important industry, which expecta-
ton, it will appear, will be partially, If
not fully, realized between now and the
close OF 1895.
Recently compiled statistics OF a high
ly authentic character says the New
York Advertiser, show that at the begin
ming of the present year there were in
forty-six states and territories 1913 rail-
road companies, representing a mileage
OF 25,547 miles, on which construction
has either been commenced or appears to
be proposed for the not distant future.
In the matter OF proposed new lines Texas
leads with total mileage Of 2,9l3, Cali
fornia and Arkansas come next with
1890 and l ,377 miles respectively, while
the other states and territories follow
with totals ranging from 964 miles in
Wisconsin down to Is miles in Conneti-
cut, the eastern states having compare
lively few miles Of new road either in
course Of construction or contemplated.
OF course, it would be utter folly to
expect that any considerable portion OF
the enormous projected new mileage will
be built during the current year; still,
there is every indication that work in
this direction will not only be somewhat
in excess OF that Of last year, but that it
will in all probability equal, il it does
not surpass, that carried on during 1894,
when the number OF miles constructed
reached 2,5S5. A slight idea of what
may be expected this year in the matter
of railroad building may be cleaned from
the fact that at the opening there were
1888 miles OF new road either wholly or
partly graded or under contract on 10l
lines in different sections of the country,
and it is therefore only natural to sup
pose that with the addition OF other lines
as the season for active work advances,
the number of new miles that will be
constructed during the year will not be
far away from the figures given, with the
possibility of even more extensive
movement in that direction in the event
of the complete restoration OF confidence
among the vast moneyed interests of the
country, such as is now generally looked
for.