The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-11

Street halfway Reseivrr,hips.
An interesting exhibit showing the
general prosperity of the street railways
of the country appears in this weeks
issue Of the American Wool and Cotton
Reporter. The Reporter publishes a
tabulated list of all street railway corpo-
ratlona which have fallenln the hands of
receivers since october, 1884, period OF
three years, together with the date of
the eceivershp, amount of bonded and
floating Indebtedness, miles of road own
ed, and when obtainable, the latest gross
earnings and name OF the receiver
The entire country is covered by the
table, which includes elxty-four roads,
with an indebtedness OF %O,GOS,S26, own
ing 95s miles OF road, Most Of the lines
are small systems, but there are several
Important ones, The important feature
OF the exhibit, as having q bearing on the
street car business In general, showing
It's condition, is that the total debt OF all
the roads in receivers hands Is only a
little more than six per cent Of the bond
ed indebtedness of all the street railways
In the country, and that the track mile
age is less than six per cent. The Re
porter is of the opinion that this is not a
bad showing, "and should not serve to
disturb anybody" THE comparison"
says the Reporter, between street rail-
way bankruptcy and that of steam rail-
ways Is indeed favorable, and with some
other forms of Investment is not odlous,"
While this is true, our contemporary
admits that the showing should be sim
better and points out the reason that it
is no. betcr as follows'
The Increase in the street railway
mileage in this country during the past
five years has been phenomenal and the
amount Of Investment capital which has
been attracted TO such construction has
been astonishing. The natural result has
been that here and there bad men and
bad methods have crep' in and over
capitalization. overh0nding and misman-
agement have resulted, The basis for
many of these recelverships lies in the
paying of an excessive price for old
horse railways, paying an unnecessarily
high price for reconstruction and re-
equipment of such lines; the extension of
branch lines into territory which did not
warrant anything like Il fair return for
such expenditure; the construction and
development of lines In towns whose
population and business could not sup
port street railway system, and fur
thermore land most frequent reason
for trouble), the profits Of CONSTRUCTION"
companies, promoters, bankers and
brokers,
These are faults that doubtless will be
corrected in lime. In the meatlme, the
future of the street railway business in
the country is bright with promise, and
investors in such stocks are apt to re-
celve good returns. With the adoption
of new methods Of motive power and the
doing away with the horse and mule
power a new era dawncd Tor the street
railway. They have furnished rapid
and comfortable transit for the public
and have received their reward In the
tremendously Increased patronage.
In many elites cheap fares have been
accompanied with stIll further increases
ofpatronage and consequent increases of
earnings, The street railways are DEM
onsiratIng that cheap fares popularize
the railways to the cxtcn. that they, the
railways, are greatly benefited. In
Wheeling the sIx-tlcket for a quarter
system Is not yet in vogue, but the pat
rons Of the street railway get good long
ride for nickla, and so far there has
been little complaint