The record-union., 1896-08-02


2,039, the increase during the year being
731, but as there We're 20.O12 locomotives
in freight service the deficiency in re-
On June 80, 1895 the number of pas
senger cars in service was 49, 3112, of
which 32.3S4 were fitted with train
brakes. and 31,911 with automatic cou-
piers. The number of freight cars in
service was 1886 119. of which 295.0 .073
were fitted with train brakes, and &c.,
$50 with automatic couplers. 1t appears
that the passenger service is we'll
equipped with automatic safety applian-
ces, but that the freight service is great
ly deficient in this respect
EMPLOYEES
The number of men employed by rail-
ways shows an increase of ), t26, as
compared with last year, the number of
employees being 1S3,034 on June 80,
1895. 1t appears there was an Increase
in employees in Group l., Group H.,
Group Ill, Group V. and Group TX,
but decrease in the other five groups.
Group V. shows the largest per cent of
Increase. In last years report it was
mentioned that the effect of CONNER
cial depression upon the pay roll Of
railways fell most severely upon main
tenance of way and structures and next
to this upon maintenance of equip
ment. The comparative figures pre-
sented in the report also show that such
is the case. The returns for the present
year show that 12S men were assigned
to maintenance of way and structures
per 100 miles of line, against 123 in
1894. The number of men correspond
ingly assigned to maintenance of equip
ment also shows a slight increase. be-
ing 8S for 1895 and Sc for 1894.
CAPITALIZATION AND vALUA-
TION OF RAILWAY PROPERTY.
The amount of railway capital on
June 30, 1895, IS shown to be S10.9S5,-
203, 125, or S6:', $50 per mile of line. The
increase during the year was S1SS, l29,
312. Railway capital was distributed as
fellows: The amount of capital stock
was S4,961, 25S, ,656, of which S4.201,-
691 ,351 was common stock, and SI59,
561 800 preferred stock; the funded debt
was So, 5,401 114, ,313, classified as bonds,
81 COS, $40, ,54S; miscellaneous obliga-
items, $445. 221 ,412; income bonds. S2i6,-
103,966, and equipment trust Obliga-
tions, $50, 5,915.32I; the current lahili
ties amounted to $G16,S30, l56. Of the
capital stock outstanding, 81, 1901,
1IS, or 23.o1 per cent, was owned by
the railway corporations, as we'll as
S431, ,50S, ,S41, or 9.39 per cent, of bonds
outstanding. These figures show an in
crease in the corporate ownership of
securities, probably rather due to rail
way consolidation than to the strength
ening of reserve funds.
Stock to the amount Of S3,415,f40 2O3,
or 10.0o per cent Of the total outstand
ing, paid no dividend. and S9O4, ,436 300,
or 1890 per cent. Of funded debt, ex
elusive of equipment trust obligations,
paid no interest during the year COW
cred by the report. In no other year
since the organization of the Division of
Statistics has so large a percentage of
stock passed its dividends, or, except
in 1894. has so large a percentage of
funded debt defaulted it's interest. OF
the stock paying dividends, $50 per
cent. of the total stock outstanding
paid from to per cent; 5.39 per cent.
Of this stock paid from to 6 per cent
al per cent. paid from to per cent,
and 800 per cent. paid from to s per
cent The total amount of dividends
was $50, ,2S7 ,543, which would be pro-
duced by an average rate of "A per
cent on the amount of stock on which
some dividend was declared. The
amount of bonds paying no interest was
1924, 702, ,293, or 13.41 per cent; of mis-
cellaneous obligations, $54 ,49S. 2SS, or
1924 per cent; of income bonds, S225,-
90, ,619 or 81 so per cent.
PUBLIC SERVICE OF RAILWAYS.
The number of passengers carried by
the railways during the year ending
June 30, 1895, was 507 ,421 1862, which
shows a decrease of SO, 266, S37. The
number of passengers reported as car
ried one mile was II, 1SS, ,446, ,271, a de-
crease of 2,100999, ,622 being shown
when compared with figures for the
previous year. The number of tons of
freight carried as reported by railways
was 696, 761, III, which gives an in
crease of 5S, ,574, ,61S for the year. The
number of tons carried one mile was re-
turned as 81. .227 .515, ,S91, indicating an
increase of 4, ,S92, Al, ,1S9.
EARNINGS AND EXPENSES.
The gross earnings of the railways of
the United States for the year ending
June 80, 1895, We're S1,O75. 81 462, an
increase of $1,000, 665 for the year be-
ing thus shown. Passenger revenue
was $252, 246, 1S0, showing a decrease of
S33, ,103,37S, or 11.60 per cent for the
year, Freight revenue increased $50
502, $40, or 4.36 per cent, being $729,-
993, ,462 for 1895.
The expenses of operate for the
same period were S125, ,720, ,415, which
Were So, ,693, ,907 less than for 1894. The
unit in railway statistics des-
ignated as the coefficient of operating
expenses, that is the percentage of op-
Grating expenses to opera ting income,
for 1895, was GAS per cent; for 1890,
$3.50 per cent. The income from opera
ton, $349, ,651 ,O47, though S1,703,5 ,512
greater than it was in 1894, was yet less
than for any other year since 1890. The
income accruing ito railways from in
vestments and sources other than op-
Grafton, amounted to S132, 49,, 1888
These figures, compared with the cor
responding ones for the previous year,
show a decrease of SIC, 1884 612 The
amount of money at the disposal of
railways for fixed charges and divi-
dends is the aggregate of income from
operation and income from other
sources. This amount for 1895 was
S4S2, ,OS3, $50. Fixed charges for the
year amounted to $425, 1866, ,921. In 1894
they were $3,041,3S9 greater. The de-
duction of fixed charges leaves $56,-
116,259 as net income from which to
pay dividends. The amount of divi-
dends, including $673,957 other
payments from net income, was SS5,-
961 500, from which 1T appears that the