Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-01-07
REcEIvERsHIPs FOR THE YEAR.

HECEIN ERSHlPS FOR THE YEAR.
Hsilvay Age.
~ A1<h ougn lSJt was by no means n pros
perotis year for the railways. yet II was
much less disastrous than its two lmme-
date predecessors. and the number of
sotupanies which were compelled to de-
t81<H on their obligations, as well as the
Wtten2e and capital involved. indicate I'M
4 prpved financial conditions. Compared
Win the terrible yenr 1899, when seventy
fotr roads, aggregatinE 1890 miles, be-
!, emo insolvont. involving Sl,7Sl 900 900 of
1tcurities. the totals for 1895 appear small
sad vet they represent vast properties
nusl manifold interests, for even In this
/ ynar OF good harvests and increased traf-
3 nc thirty-one railways were placed in
the hands OF receivers, covering iOs1 miles
of fond, with aggregate funded debt of
h MI 2ll 900 and $500. 100000 OF bonds and
stock.
Two companies out of the thirty-one
contrlbuted Go per cent OF tho mileage
and u per cent of the capitalization Ia
this list which otherwise would not have
been especially significant OF present con-
d1tiofs as for most of the roads named
bankruptcy has long been inevitable. The
fnilufe. In February. OF the Norfolk and
Western, with nearly 1900 miles of road
nd4elmost s1l5,000. 900 OF securities. was n
great disaster, the results of which arc
4 gtili no organization plan
having been adopted. But the transfer
.4pea<'the close of the year Into the hands
Il ~ acourt OF the Now York. Pennsylvania
And Ohio, with 600 miles of operated lines
I, aud PIC enormous capitalization OF nearly
= 4ilAVp. O00 can not be regarded as a ca
ylondty, ns II was IN pursuance of the
i long pending plan for the reorganization
V,ofitM property and it's complete CONSOLE
dauon Into the Erie railway system. This
- the fourth time that the New York.
!; Fenr6ylvnna and Ohio and its prsdeces-
urYIIEa Atlantic mn Waetp hrq
1 been placed In the hands of receivers, II
x ~ 10 be hoped that II is also the last
l.: or tho other large companies in the
\ ut The ST. Joseph and Grand Island and
4 ~ leased line. the Kansas City and
]. Qmeba, representing together ii5 miles
4ud VI, 00D.0 900 OF securities. were part OF
0xtQniOn Pacific system when II failed
but their interest obligations were
p time and II was not until late
year that separate receivers were
ted fer them. -Four OF the roads,
4 Plumbia and Puget Sound, Seattle
7 en Prthern, Port Townsend and South
eru 49, southern and Pacific Coast. n.y.
Erx4png 30 miles. are owned by the
OREGON Improvement company, which
coniessed bankruptcy In October last. The
. wichita ana Western and Alma Manhat-
Z. tan and Burlingame are part of the wreck
age OF the Atchison, Topeka and Santa
4 Fe system. The other important lines in
4 clndinr the Columbus. Sanduskv and
=, Hooking, Ohio Southern. Humeston and
Z. Gfl4nandoah and Beiiaire. gainesville ana
..cincinnati. were Independent legitimate
I<dterrrses whose failure can not be
u1}arred to the falling In pieces OF great
jnysterns.
q 81 large n share Of the railway COM
p1n1es Of this country have now gone
fthrough the process OF reorganization or
13Flawaltlng II In tho hands OF the courts
rfbhf the record OF new receiyershins will
11o1onbtedly show n steady annual de-
E&<4ee for some yesrs at least. About
@ffpads are at present being onernted
N Receivers, but the sales and reorgan-
1<(pns are outnumbering the failures
<1(d the profitable occupation OF managing
&1IIVnys taken out OF the hands OF their
11r<rs by the courts promises to becoms
I<j1<h loss CONN on than now.
*|I1c following table summarizes the sta
K<t<ts OF recelvershrs for the twelve
|xF4f during which It hiss been kept by
/. IA Railway Age: