Omaha daily bee., 1895-12-08
STATE RAILWAYS.
The Australian Experiment Claimed
to he Success.

The Australian Experiment Claimed
to he Success.
According to an Australian letter. the last
annual report Of the New South Wales Rail-
way commissioners (Messrs. E. NJ. G. Eddy,
chief; C. Oliver and w. NJ. Fehon> shows
that. not wthstandsng the adverse influence
of prolonged commercial and industrial de-
preston and the destructive effects of periods
of flood and drouth the railways of New
South Wales have been worked at con-
siderable profit, after defraying the heavy
expenditure oecasioned by maintaining the
permanent way and rolling stock in the
highest state of efficiency and keeping up
the current rates of wages. The report.
which is dated September 9, 1896 states
that the continuous decrease of 'n railway
traffic which has bsen experienced since
June, 1892. had been arrested, and that tha
year ended June 80, 1895, had shown an i'm
provement in this respect, the proceeds of
the combined railway and tramwsy traffic
during that period being f316052O, and the
total expenditure f1,79S,5S2 leaving a net re-
turn, after paying working expenses, of
f1,36l, 1888, being an increase in net profit
over the previous year of f91 32S and max
ing an accumulated increase in net profits
paid into the New South Wales treasury
during the past ssven years of e. 1872 1882.
The net profit of f91 1928 represents an in
crease of revenue to the amount of f6S, 1856,
and saving by economies in working to the
extent Of f22,543. This result was obtained.
not only after charging siXty-two and a half
miles of relaying to working expenses, but
also debting the latter with the cost of a
number of works which might have been
fairly charged to capital. The nst profits
show return upon the total capital ex-
pended on lines open for traffic of $50 per
cent and upon capital on which interest hau
TO be paid upon lines open of 1888 per cent.
The percentage of working expenses has
been reduced by over IL per cent since the
commissioners took Office In 1888, and at
the same time the railways have been very
materially improved in value out OF work
ing expenses. The result of the working
since 1888 has been an additional net profit
OF tl41 per mile of line open, the net profit
per train mile being increased since 1883
from 2s 3lad to IS 5lsd, or Is I'd per train
mile, the net earnings per train mile repre-
senting a saving of f433 900 upon .he years
mileage, as compared with the 1et earnings
per train mile before the commissioners took
office. The total railway and tramway earn
ings in 1888 amounted to c., ,53l ,643; in 1895
they had risen to f3, 160, 800 an increase of
f62S,S77, and of this increase f5S0,042, or
1928 per cent has bssn paid as profit into
the New South Wales treasury. The re-
turns would be even more favorable but
for the heavy burden of lines which, how
ever useful in opening up fresh country, are
at present Improbable. There are now
2531A miles of railway open for traffic in
the colony, and light lines are to be con-
structed In various places feeders to the |
main system. The cost of the lines open for |
traffic on June 30, 1895, amounted to 1885, |
Gil 1866; OF this amount $685. 565 has been |
provided out Of the consolidated revenue and |
iebsntures of the value of Fl 26614 have |
been finally paid offsIleaving f34 AL 655, as |
he amount upon which interest has to be |
paid. The absolute block system of working |
and the interlocking of points and signals |