Marshall County independent. (Plymouth, Marshall County, Ind.) 1894-1895, 1895-08-22
An Interesting Study.

"A vi CC'itiitiOIl- pAoeSiIoo anu
prospects Of the railroads OF the world
reveals facts and tendencies Of interest
not only to those engaged in transpor-
tation, but to Ill students of economic
science. Our country now possesses
nearly half the railway mileage of the
world, and il is Il fair estimate that
5000 miles Il year Of new road can be
added to this mileage for the next
twenty years. The population or this
country to-day is 1OGU0.0G0. and Its
wealth is about $1,000 for each person
of the population, or SIO,000,OOO,OOO,
and this wealth is increasing 1T the
rate of $6.GoO.0o Il day. The railway
capital of the country is now about SILL
Boo. 000. coo or One-sixth of the total
valuation of the property Of the coun-
try. The capital stock OF the railroads
Is now $5.G.0.000.OO0 Git WAS $4S34.-
100000 Il year ago). and of this $780,
600. 900 is preferred stock. The funded
debts amount to $500. 100000, of which
bonds constitute 81 900. 100000. A year
ago the miscellaneous obligations
amounted to $i56 100000; income
bonds, S243. 100000. and equipment
trust obligations to SOL 900. while
the amount OF current liabilities was
$780,. 000 900. The obligations of today
differ but little from those of year
ago. The railway securities held by the
best roads as investments amount to-
day 10 81 500 900. goo. Sixtythree per
cent. or more than threefifths of the
whole amount of railroad stock, paid
no dividends during the year ending
July /. 1891 OF the stock which did
pay dividends, the average rate was
only five and four-tenths per cent. Ten
per cent of this stock paid dividends
ranging from > to q per cent. The
amount of bonds paying 10 interest was
SOL 100000. The miscellaneous OBJ
legations paying no interest amounted
to S53.500.00 and the amount of in
come bonds which paid no interest was
$2l1 ,OO0. 900. The railroads of the
whole world have cost about $3J,OOO.-
100000, and their gross receipts last
year were $4,000. 100000. and their eX-
penditures were 81. 600. 1000, leaving
$i,VcO,VOo.OOp ~ III d!blblltN ~ pay
ment of debts and dividends.
Earnings and Expenses,
During the year ending July /. 1894.
the gross earnings of the railroads OF
the United States were reported at
$l013, 100000 a decrease of $50, OOO,-
OOO from those of the preceding year.
This is accounted for by the panic and
the partial StasnatiOn Of business. Pas
sdflger traffic fell Off over per cent.
and freight traffic nearly 16 per cent,
though this period includes much of the
travel to and from the Worlds Fair.
The depressing effect of the panic is
seen in the decrease in operating OK
penses over the preceding year of $780,
100000 The largest decrease in these
operating expenses was in the matter
of keeping tracks and station houses
In repair and in permitting railroad
equipment to run down. The decrease
for the year in the expense of keeping
rolling stock IN repair was nearly Is
per cent. The net earnings of the roads
were S3i2. 100000 a decrease of SOL,
100000 over the preceding year. The
income derived from sources outside of
operating the roads was $i43G00, 600.
After paying fixed charges of S429, 000,-
000 there remained 500 100000 for divi-
dends. IL decrease of 30 per cent from
the amount available for that purpose
at the close of the preceding year. The
fact that S96.000.000 was paid in diyi-
dends shows that there was q deficit
from the operations of the year of $46,-
OOO,O 900. The money derived from car
rying passengers was $2S, 100000, or
carrying freight S1GO ,OOO, coo, or about
two million dollars Il day.
Railroad mileage of the World.
From the best authorities accessible
we find that the railroads of the world
July l. 1890. are 436,2I1 miles long
Adding the length of second, third and
fourth tracks, and the length of sidings
furnouts. shop tracks and all yard
tracks, which aggregate 129,005 miles
we have a total length Of all tracks to-
day of 56J,36 miles. This distance is
twenty-five and three-fourths that OF
tne clFctinl ference OF the e1ftn. an0
sixty million tons OF iron and steel have
been used for the rails alone
The following tabular statement OK
hibitS by continents the present rail
road mileage of the world at this time
and also the mileage, inclusive of al
kinds OF tracks:
Length oil
Continents Mileage track
IN The Unit.d States and
Territories ........ lS1,2O0 236,6st
IL other portions OF
North America ...... $3.50 30. ION
In South America. $50. 22.S1J 2S51!
In Europe. ........... .15G,3S0 20J, 20
In Asia . 2S.229 3J.39,
In Africa ......... S,212 1910
In Australasia. ... 1868 IL, Ion
1921 800
AOf all railroads July |. 1890.
An inspection of this table shows tha
the United States has more miles o.
~,;Iroad than all ErrODo and that I