The morning times., 1896-12-11
EARNINGS OF RAILROADS
Reports Show a General Increase
Over Last Year.
RETURN TO PROSPERITY
Receipts Were About SI13 Per Mile
in Excess of 1S95-Freight Serv-
Dividends Declared Prac-
tically Equal to Last Year.

Tile Interstate Commerce Commission
has just issued preliminary report on
the income and expenditures of the rail
ways in the United States for the year
ended June 80, 1896, prepared by its
statistician.
Under the existing order OF the com
mission, carriers are allowed until the
18th of September TO file their annual
reports, and the commission says: Were
it not for tile remiSsness OF carriers in
filing such reports, preliminary state
ment OF the income ami expenditures OF
railways could he presented TO the public
within ten days thereafter
The report submitted presents the chief
items of an income account by ten terri
torial groups of $500 roads, representing
an operated mileage OF 172, 1863 mikes OF
line, or about 96 per cent OF the total mile
age operated in the United States.
GROSS EARNINGS PER MILE.
The gross earnings upon this mileage
were 81 ,123 ,646 ,562, of which 1923 1861
S9l were from the passenger service, and
$l12,071 ,374 were from the freight ser
vice. AS the operating expenses were
SIol,3Il ,5l5, 1t appears that the income
from operation was 1866, ,675.047.
the figures given in this preliminary
statement indicate, at least, turning
toward prosperity. The earnings OF the
y 1.C
per mile OF line, being an increase of S113
as compared with the previous year
The earnings OF the freight service also
show an increase over last year OF S34S
per mile OF line The gross earnings per
mile Of line We're So, 519 for 1895. and the
operating expenses S4,3SO. leaving a net
income per mile Of line OF So 139, which
is in excess oe that for the fiscal years
1895 and 1894, and compares fairly well
with the net income per mile Of line for
1893 and 1892
The net earnings Of the lie, 369 miles OF
line represented in this income report were
1865. 81 5.047, against S341, ,29S, ,O47 for
the corresponding roads III 1895 This is
the item Increased by income from invest
nentsJ from which fixed charges and divf-
dends must be paid before a surplus is de-
clared.
INCREASE BY GROUPS.
The increase in net earnings is fairly well
distributed throughout the United States
The surplus from tile operations of the
year ended June 80 1896, was So BPS
667. The fiscal year s95 closed with a
deficit of S31 ,075,030. In the case OF
every group in 1898. except Group TX
tmainy Texas and LouSiauab which had
a smaller defiCiUy in that year. there was
either smaller surplus or a greater de-
ficit tina n in S96
The dividends declared by the roads COW
cred by this advance statement were Sol
SS3. .132. icing almost the same as the
amount Of dividends declared by the CORE
spending roads the previous year
Ii should be understood that the amount
stated does not include all of the dividends
paid, since a considerable portion of the
dividen nds paid during the year on railway
stocks is declared from rentals received by
leased roads from the companies that oper-
ate them, such rentals being returned by
the lessons a fixed charges
The report closed with brief argument
to the effect that Congress should so amend
the act to regulate commerce as to secure
the enforcement Of its provisions.