Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-06-21
Observation-Disclosures
ONE HUNDRED AND NlNETY-TWO
RAILROADS INSOLvENT.

ONE HUNDRED AND NiNETY-TWO
RAILROADS INSOLvENT.
Some Idea of How Widespread the
Hard Times Have Been, aud
Facts Which Show How ssGrnsp-
Ing COrporations'' Have Felt the
Stagnation In Business.
The seventh statistical report OF the
Interstate Commerce Commission for
the year ending June 80, 1894, has
just been submitted. In the introduc-
ton special attention is called to the
peculiar conditions affecting the
operation of railways in the United
States. 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 wide
spread and unprecedented business
depression. Third, on June 80, 1894,
one hundred and ninety-two roads,
and operating upward OF $4,000 miles
of line and representing about one
fourth of the total railway capitaliza-
ton, were in the hands of receivers.
The effect of these conditions is ap-
parent in nearly all the figures pre-
sented. The total railway mileage in
the United States on June 80, 1894,
was 1892, an increase during the
year of 2,247 miles. The increase
during the previous year was 1897.
The percentage of increase for 1894
was less than for any preceding year
for which reports have been made to
the commission, and it is not proba-
BILE the year ending June 30, 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 cor
porations on June 30, 1894, was l 1924
an increase during the year of twenty
two. The number OF roads not in
operation was seventy-seven. The
movement OF consolidation during the
year on the basis of mileage involved
has been greater in but four previous
years; fifteen roads representing l.
734 miles, have been merged; twenty
two roads, representing 1882 miles,
have been reorganized; and fourteen
roads, representing 1880 miles, have
been consolidated. A classification
of railways on the basis of operated
mileage shows that forty-four roads
each with mileage of over 1000
miles, OF Grated 100,574 miles of line
or $500 per cent. of the total mileage
OF the country. Ninety roads operated
1890 per cent. of the entire mileage.
On June 30, 1894, the total number
OF locomotives was 1892, an increase
during the year of 704. The total
number Of cars reported was l,27S ,O7S.
The increase in the number of cars
during the year was 4 4,132, as against
an increase of 1864 during the prev.
ious year. This falling off in the
ratio OF increase is due to the fact that
the railways have during the year
used large number Of old, worn-out
cars. During the year 1879 loco.
motives and 34.1S6 cars were fitted
with automatic couplers. Seventy
four and eighty-one hundredths per
cent. of the total equipment is still
without sir-brakes and 1877 per cent.
without automatic couplers. The
total number of railway employees
June 30, 1895, was 779 1908, a decrease
as compared with the number June
80, 1893, of 1894. or 1915 per cent.
This is smaller number than in any
year since 1890. This decrease is due,
the report states, to the heavy falling
off in traffic and the endeavor OF the
railways to economize.
The net earnings were $34l ,947 ATS,
decrease OF $50,sS3, 100, as compared
with the previous year. The income
derived from sources outside of opera.
tions was $142, 2,SI6,S05. The amount
of fixed charges and other deductions
from income was 1929 ,OOS, $40, leaving
net income of $55,755,9 $40 available
for dividends, and a decrease as COM
pared with the previous year OF nearly
80 per cent. The amount of dividends
paid was $95,795,976, q decrease of
only $5,353 ,907 from the amount paid
the previous year. The fact that
nearly the normal amount OF dividends
was paid notwithstanding the great
decrease in income available for them
and that the payment of the amount
stated entailed deficit from the oper-
ations of the year of $45,9l2,O44 is
noted.