Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1895-06-20
ABOUT RAILROADS.
REPORT OF THE INTERSTATE
COMMERCE. COMMISSION.
On June 80, 1894, 8 Roads, Repre-
senting One-Fourth OF the Total
Railway capitalization, were In
the Hands OF Receivers.

Washington, June 1S.-The seventh
statistical report of the interstate COM
MERGE commission for the year ended
June 80, 1894. has just been sub
mitted. In the introduction special at
tention is called to the peculiar con-
ditions 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 cover n period Of
widespread and unprecedented bust
ness depression: Third. on June 80,
1894, one hundred and n~inety-two
! roads , operating upward of 1900
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, 1894. was
It's. 7OS, 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
1 w HUH ltlbclts nave bNNi lll'INiN NhN
! commission. and it is not probable that
the year ending June 80, 1890, will
show much Improvement. The mum
Der of roads abandoned was sixteen.
| The total mileage of all tracks was
233. 533 miles. The total number Of
railway corporations on June 80. 1894.
was 1924. an increase during the year
of 22. The number of roads not in
| -,. III. -
consolidation during the year on the
basis of mileage involved has been
| greatest in fOur years previous: -
roads representing 1,13i miles. have
| been merged; - roads, representing
2.352 miles.
Have Been ReOrGnnized
and II roads. representing $50 miles.
| having been consolidated. A Classif-
cation Of railways on the basis of OPP
! Grated mileage, shows that A roads,
each with a mileage of over 1000
miles, operate 10O.547 miles Of line,
or $3.50 per rent of the total mileage
Of the country. Ninety roads operate
1890 per cen 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 1,21S,O7S.
/ The increase in the number of cars
| during the year was 4.13T, as against
| an increase of 1861 during the pre-
viOus year. This falling off in the "a
| 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 1919 loco
motives and JO.3SG cars were fitted
with train brakes. and 1877 loco
motives and 34.1S cars were fitted
with automatic cCuplerS. Seventy
four and e~ighty-One hundredthS per
cent of the total equipment is Still
without train brakes. and 72.U per
cent without automatic cOuplers.
The total number of railway en-
| 1lOyeS on June 30. 1891. was 7T9.GOS, a
decrease as compared with the number
on June 80. 1913. of 1891. OF 10. I6
per cent. This is a 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
railway employees for 1892, 1893 ana
1894. The total amount of
Reported Railway Capital
on June 80. 1894. was $40, 796.4T3.S13,
or S62, $50 per mile of line. This is an
increase in the amount of outstanding
capital during the years of $40. 23S, 4O3.
| The amount Of capital stock was 81
| S24.O7j.GJ9. of which 81 03 ,5S4. 166
was common stock and $3.50 9l .493
was preferred stock. The funded debt
was $5,35G. 5S3, O19. The amount Of
current liabilities was $GO5.Sl5, 135.
The amount of railway securities held
by the railways as an investment was
S1.544.OJS.61O, Il decrease during the
year of S1S.963. 563.
The amount of stock paying no divi-
dend was $3.066. 15O.O94, or 63.43 per
CEN of the total amount. The total
amount of dividends was S9J,5TJ,976,
or an average rate OH the dividend
paying stock of 5.41 per cent. The
amount Of bonds paying no interest
was S650,573,7S9. The amount of
miscellaneous obligations paying no
interest was S53,426. 264. and the
amount Of income bonds paying no III
terest was 500, 1854.
The number Of passengers carried
was 619,6SS. 100, an increase over the
previous years Of &c, 1877 .5S7, 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 7~45.119,4S2 in 1893,
a decrease Of 106,932, 929 tons.
The gross earnings of the railways
for the year were were S1,073, 1861, 797,
a decrease as compared with the pre-
viOus year of STAT ,390,077. Passenger
revenue decreased S16,142.2 5S, and the
revenue from freight traffic decreased
S129,5 62, 94S. The amount of operating
expenses was 1871, ,322, a decrease
of SOC. 506.977. The largest percentage
of decrease was in the operating ex-
penses assigned to maintenance of
way and structures, and to mainten-
ance or equipment, which show, re-
spectively, a decrease Of 1912 and
17.T2 per cent. The net earnings were
1911, 947, 475, a decrease of S50,SS3, 100
as compared with the previous year.
The income derived from sources out
side of operations was S142,S16,S05.
J The amount of fixed charges and other