The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-16
Railroad Earnings 1924.

ENAAAA0-4 r Earnings IN $50.
The Financial Chronicle regards the
Tremendous lossess" In railroad earnings
in the year iss4 as the most remarkable
incident - 7hat unsatisfactory years
record J. is believed that no other great
interest suffered so severely from the
hard times. The returns for twelve
mc-ths from u roads ard for eleven
months from siXty-nine roads show that
the falling on for tho 1874 roads. represent
ing l-l-'s, miles. was sll2. 425.52L This is in
comparison with the returns OF ls3 roads,
representing 1900 miles, in 1893. The
ratio IF decrease in 1894 is given at liz
per cent. In the year 1885 the decrease in
earnings. the Chronicle thinks. must have
been S1.oooe0. and in 1884, 100000.
making a total Of $3.50. m. OOO for the two
years To appreciate fully the loss OF
this $3.50 0o0.g00 it must be borne in mind
that under normal conditions gross earn
iugs keep steadily rising from year to
year. Fifty millions year would prob
ably he fair estimate of the yearly ad-
dtion IN normal state Of affairs Hence.
there should have been a gain Of 10000
90 in the two years. instead Of a loss of
$4,000 ooo-a total difference of $4,000
On
While the percentage Of loss for the
country. taken as whole. was about 1lIz
per cent. the decrease suffered by the
southern group Of roads was only about
per cent. Indeed. the southern group
Jared better thar any other group. just
as the southern section suffered less Sc
verely from the financial strnsency
and the attendant trade depression than
any other section of the country. In 1898
the ten great systems IN the southern
group earned $6s 2o2,12i. in 1894 the came
systems earned S66.99S 955, a decrease of
S2.2o3 l69-a little more than per cent.
The southwestern group showed in 1891
a decrease Of about II per cent: the north
western group "A decrease Of a little less
than "a per cent. the east and west
trunk lines a decrease of a little over 13
per cent. ana the middle and middle
western roads a decrease Of over 70 per
cent
During December there seemed 20 be
some revival in the railroad business
though the Chronicle is not greatly
encouraged by the outlook.
The stausucian Of the New York pro-
duce exchange gives some statistics of
grain exports that ought to prove of in
terest to American shipowners, and to
all others who are Interested in the re
Mobilization Of the American merchant ma
rine. During the year of 1894 there were
shipped TO Europe l61 cargoes of grain
aggregating 96760i2 bushels. in the YES
sells of five lines. each line of which was
owned entirely or in the controlling part
by Americans; yet not a bushel of this
grain went under the American flag one
rSpical American-owned lined is the So
ciete Anonyme de Navigation Belge-Amer-
icaine, operating eight ships and carry
ing last year siXty-siX cargoes. During
the same year British-owned ships flying
their own flag, carried 10000. 600 bushels of
grain, and other foreign owned ships car
ried about 100000 bushels American
owned ships flying the American flag do
not appear to have been engaged in the
trade at all The Americans who took
part in the carrying were forced to do so
under the flag of foreign country. If
congress would smash the discriminating
protective shipping laws and give Amer
leans the right of free ships, it prob
ably would not be many years before
American grain would so to Europe in
American bottoms under the American
flag.