The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1895-06-20
ABOUT RAILROADS.
NEPORT OF THE INTERSTATH
COMMERCE. COMMISSION.
On June 80, 1904, 1872 Roads, Repre-
sentfng One-Fourth OF the Total
hallway Capitalization, were in
the Hands OF Receivers.


statistical report of the interstate COM
merce commission for the year ended
June 80, 1894. has just been sub
united. In the introduction special at
tention is called to the peculiar con-
dltlons affecting the operation Of rail
ways during the year. First, the report
covers the last four months Of the
Columbian exposition, during which
time there was an increased passenger
traffic. Second, it covers a period Of
widespread and unprecedented BUSH
ness depression. Third, on June 80,
1894, one hundred and ninety-two
roads operating upward OF $1,000
miles of line and representing about
one,fourth of the total railway capital
iZation. were in the hands of receivers.
The effect of these conditions is ap-
parent in nearly all of the figures pre-
scented.
The total railway mileage in the
United States on June 30. 1891. was
ITS OS, an increase during the year Of
2,247 miles. The increase during the
previous year was 1897. The per-
centage Of increase during 1894 was
less than for any preceding year for
which reports have been made to the
commission, and it is not proba BILE that
the year ending June 80, 1895, will
show much improvement. The num-
Der of roads abandoned was sixteen.
The total mileage of all tracks WAS
233.533 miles. The total number of
railway corporations on June 30 1884,
was 1924, an increase during the year
of %. The number of roads not in
operation was II. The movement Of
consolidation during the year on the
basis of mileage involved has been
greatest in four years previous; Is
roads representing 1,134 miles. have
been merged; % roads, representing
1852 miles,
Have Been Reorsnnized
and II roads, representing 1880 miles,
having been consolidated. A classifi-
cation of railways on the basis Of op-
Grated mileage, shows that II roads,
each with mileage Of over 1000
miles, operate 10O.547 miles of line
or $500 per cent of the total mileage
of the country. Ninety roads operate
1900 per cent of the entire mileage
On June 80, 1894, the total number of
locomotives were 34,492, an increase
during the year of 4O7. The total
number of cars reported was 1,27S,O7S.
The increase in the number of cars
during the year was 4,137, as against
an increase Of 1864 during the pre-
vious year. This falling off in the ra-
ito Of increase is due to the fact that
the railways have during the year de-
stroyed a large number of old, worn
out cars. During the year 1879 loco
motives and 5O,3S6 cars were fitted
NJ no in 1,rD1 yno Nd
motives and 34,1S6 cars were fitted
with automatic ccuplers. Seventy
four and eighty-one hundredths per
cent of the total equipment is still
without train brakes, and 72.77 per
cent without automatic couplers.
The total number of railway en-
decrease as compared with the number
on June So 1893, of 1884. or 1916
per cent This is smaller number
employed than in any year since 1890.
This decrease is due, the report states,
to the very large falling off in traffic,
and the endeavors Of the railways to
economist A new feature in this re-
port is a table giving the comparative
statement of the average daily COM
pensation of the various classes of
AdiiNr. rs 1OI lCC-, 1895 ana
1884. The total amount of
Reported Railway Capital
on June 80, 1894. was $40, ,473,S13,
or $685. per mile Of line. This is an
increase in the amount of outstanding
capital during the years Of $29, 23S, 4O3.
The amount of capital stock was 3d.
624,O75,659, of which $4.1O3, 5S4,166
was common stock and $3.50, 491. 493
was preferred stock. The funded debt
was S5,356,5S3, O19. The amount of
current liabilities was $6O5,815,135.
The amount Of railway securities held
by the railways as an investment was
$l.a- +,O3S.67O, a decrease during the
year of $1S,963, 563.
= The amount Of stock paying no divi-
dend was $3.OG6.15 O94, or 63.43 per
cent of the total amount The total
amount Of dividends was 500, ,976,
or an average rate on the dividend
paying stock Of 5.41 per cent. The
amount Of bonds paying no interest
was S65O,573, 7S9. The amount of
miscellaneous obligations paying no
interest was $50, 426,264, and the
amount of income bonds paying no in
terest was $21O,757,554.
The number of passengers carried
was 1865, 1919, an increase over the
previous years Of 90, .587, and was
occasioned by the worlds fair travel.
There was a large decrease in freight
traffic. the number of tons being &C.,
1868, as against 745, 1194S2 in 1893.
decrease of 10G,932, 929 tons.
The gross earnings Of the railways
Tor the year were were $1,O73,361, 797,
decrease as compared with the pre-
vious year of $147, 39O,O77. PASSENGER
revenue decreased $16,142,25S, and the
revenue from freight traffic decreased
$l29,562,94S. The amount of operating
expenses was $731 ,414, 322, a decrease
OF $96,oO6,977. The largest percentage
OF decrease was in the operating ex-
penses assigned to maintenance Of
way and structures, and to mainten-
ance OF equipment, which show. re-
spectively, decrease of 1912 and
1872 per cent. The net earnings We're
$3341 ,947, AIS, a decrease of $50, $50. 100
as compared with the previous year
The income derived from sources out
side Of operations was $142,S16.SO5.
The amount Of fixed charges and other
deductions from income was S42o OOS-
80, leaving a net income Of $55,755.-
100 available for dividends, a decrease
as comma rod with tho ,,rov;o,,e --o...