Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-08-22
BILLIONS INVESTED
Conditions of the Railways Of the
Country.
FIVE HUNDRED MILLION PASSENGERS
Over Seventy Per Cent of STOCK
Paid No Dividend.
SE IN MILEAGE

From summaries which will appear in
the tenth statistical report of the inter-
state commerce commission, prepared by
its statistician, the following advance fig
ures are obtained:
The total railway mileage in the United
States in the year ending June 80, 1897,
was 1S4,42S miles, there being an increase
of 1851 miles or 0.90 per cent during the
year. -.
Ninety-five per cent of the railway mile
age of the country is laid with steel rails.
The total number of locomotives in SER
vice was 1885, an increase of SO for the
year The number of passenger cars was
o5,626 and of freight cars 1.221, $50.
of the total number of cars $50 .2S6 were
fitted with train brakes, the increase be-
ing l6,432, and 67S,725 were fitted with
automatic couplers, an increase of 133, f42.
Inc number of men employed by the
railways of the United States on June 80,
1897, as reported, was S23, 476. These fig
ures, assigned on the mileage basis, show
that 49, men were employed per 100 miles
OF line. The corresponding figures for the
year 1896 were slightly larger.
:. regarding the year ending June 30, 1897,
1t appears that the amount of wages and
salaries paid was s465, 601, 5S1. This amount
represents 61-S7 per cent of the total oper-
atlng expenses of railways, or $3.50 per
mule OF line. The total compensation for
1876 was 1850 greater.
Over Ten Billions Invested.
On June 80, 1897, the amount of railway
capital outstanding vas $40, oos. OLA.
which, assigned on mileage basis. shows
capital of $4,000 per mile of line. The
amount of capital stock was 1864 642, 2555,
of which s4,367,056,657 was common stock
and 1907 .5s5,5os preferred stock
The amount of funded debt was So 2TO-
S65,s19. The classified ton of funded debt
shows that it consists of mortgage bonds,
s4,,39,91 .595; miscellaneous obligations,
$50, 1855; income bonds, 1853, SAT ,154 and
equipment trust obligations, $50 SSS 1877
The amount of capital stock paying no
dividend was So. 761 o82, PIT, or 20. 10 per cent
of the total amount outstanding. The
amount of funded debt, excluding equip
ment trust obligations, which paid no in
terest was 1867 .95O,S40. The total amount
of dividends was sS7. 500, which would
be produced by an average rate of 5.43 per
cent on the amount of stock on which some
dividend was declared. The amount of
mortgage bonds paying no interest was
s615, ,0S9 or 1850 per cent; of miscelia-
neous obligations. S37,345, SO or SGT per
cent, and income bonds $215.3A,9I2 or
S2.S7 per cent. The amount of current la
blities outstanding on June co. 1897, was
S57S, 50l. 1856 or S315S per mile.
The number of passengers carried dur
ing the year was $50, AS, 19S a decrease OF
q, 1927, $50 The number of tons of freight
carried was TAI. T05, 916, which is "a, 1So, i39
less than for 1895.
Decrease in Gross Earnings.
The gross earnings of the railways Of the
United States for the year ending June 30,
1897, as reported for an operated mileage Of
1s3. 2s4, were s1.122, 0S9,773 In comparison
with the preceding year this amount shows
~, ,i,,crS Of
The sources of income comprised in gross
earnings from operation of the year were:
Passenger revenue, s25l .135, 927; decrease as
compared with the previous year, SO, 1876 :
COG; mail, 1913. 754. 486; increase. $1,374, 647;
express, S24eol .o66; increase. $40, 6S3; other
earnings, passenger service, S6,629, $50;
freight revenue. $T12, S43,314; decrease, $l3,
166523; other earnings, freight service, "a,
203, 65T; increase. 1913, 187; other earnings
from operation, etc, $2S6G9.3 1863.
The expenses of the operation of railways
for the fiscal year covered by the report
We're SI52, 5A, T64. This amount is $40, 464,
$50 smaller than the corresponding amount
for the year 1885, the operated mileage for
that year being 1S1 ,9S2 miles.
The operating expenses of 1897 were dis
tributed as follows: Maintenance OF ways
and structures, $3.50. 434, 403, decrease as
compared with the preceding year, $780,
al maintenance of equipment sig 7G2,
portation, S432, 525, S62, decrease - 1891 100;
general expenses, $50, 4S1 .269, increase 1897 :
Ssi gross earnings per mile of line
operated averaged Sc ID; operating ex-
penses 81, JOG. These amounts are, respec-
lively, S19S and $142 less than the averages
for 1896
The income from operation, that is, the
amount of gross earnings remaining after
the deduction of operating expenses, COM
monty termed net earnings, was $500 565 :
600. This amount is 81 615 1913 less than the
corresponding item for the previous year.
The total amount of dividends declared in
Guiding $261 $3.50. other payments from net
income, was SS7 ,3T7 9S9, the result being
deficit from the operations of the year of
st, 120, 4S3.
Over 6,0Oo deaths.
The total number of casualties to persons
on account of railway accidents for the
year ending June 80, 1897, was As 1853 OF
these casualties 6,437 resulted in death and
36.131 in injuries of varying character. OF
railway employees 1893 were killed and 81,
667 were injured during the year.
From summaries showing the ratio Of
casualties, it appears that l out of every
4S6 employees was killed and / out of every
80 employees was injured during the year.
One passenger was killed for every 2 2tlI
10S carried and l injured for every Ito, liz
carried.
In Receive.s' Hands.
On June 30, 1897, there were 12S roads in
the hands of receivers. These roads oper-
ated a mileage of Ii, SCI miles, the mileage
owned by them being ii 1874 miles. These
figures. as compared with those for 1876
show that there was a net decrease of L,
613 miles in mileage operated and S,62a
miles in mileage owned by roads in charge
OF receivers. During the year ending June
80, 1897, 81 roads were removed from the
control of receivers and % roads were
placed under their management
The capital stock represented by railways
in the hands of receivers on June 80 1887
was S4S6,064 610; funded debt, $53I 407, 79O,
and current liabilities, S1l3,S00,34S. A COM
parison of these figures with those cores
ponding for the preceding year shows a de-
crease in capital stock represented of over
S256,OO0,000, and in funded debt OF over
cS ftDa 600