The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-08-26
STATUS OF THE RAILWAYS.
..-r,,psTATE COMMERCE COMMITS
SLOWS ANNUAL REPORT.


0.or-Oyer 1S3, 900 Miles of Rail-
nv in the United States-The Cap
-, stock of Roads Over $10,0OO,OOO.
n.orIV 500 900, 600 Passengers Car
ID a Decrease of $4,000, 600 Conn
,-cd with the Preceding Year.
sslOoO.O0O Net Income for the
v.,r-ovcr G,OOO People Killed and
$4,000 Injured.
From summaries which will appear in
,.s zenith statistical report of the Inter
..+. commerce Commission it appears
,t..t On June 80. 1897, there were 12S roads
Il, The hands of receivers. These roads
ooar,,ed a mileage of 17,S61.6s miles, the
.,;r.s-e owned by them being HS94.57
miles.
Tb,se figures, as compared with those
a.. 1Sq6 show that there was a net de-
1850 - 126lSn miles in mileage oper-
.ta5 and S.622.S9 miles in mileage owned
- roads in the charge of receivers. Dur
tho fine wear ending June 80, 1897, 81 roads
more removed from the control Of receiv-
.-s and % roads were placed under their
management.
II is not always possible to secure COM
,lete returns for railways operated by re-
eivers. but the following figures may be
accented as practically correct with re-
soocr 10 railways of this class: The CAPT
al stock represented by these railways
m June 30, 1897, was $4S6,064,6lO; funded
abt. S591. 407, 100; and current liabilities,
,2 GAG 34S. A comparison of these figures
NTH those corresponding for the preced-
me wear shows a decrease in capital stock
rsnresented Of over $256,OC0,C0O, and in fund
ed debt of over $46S, 100000.
The total railway mileage in the United
s,aies on June 30, 1897, was 1874, 42S.47 miles,
hero being an increase of 1,651.S4 miles, or
$50 per cent during the year.
on June 30, 1897, the amount of railway
cantal outstanding was $10,635, OOS,04
which assigned on a mileage basis, shows
capital Of $50 $50 per mile of line The
amount of capital stock was $5,S64,6 255,
of which s4.S67 ,657 was common stock,
and 1897 5S5. 59S preferred stock. The
amount of funded debt was $500 ,365,S19.
The classification of funded debt shows
that it consists of mortgage bonds, $685.
g1. 5g5: miscellaneous Obligations, $3.50 49,
az, income bonds. $3.50. SAT, 154 and equip
ment trust obligations, $S9, SSS,767. The
amount of capital stock paying no divi-
jend was $3,76l O92, 277, or 1910 per cent.
Of the total amount outstanding.
The amount of funded debt, excluding
equipment trust obligations, which PAID
no interest was $3.50, $50, $40. OF the stock
having dividends, 5.37 per cent. Of the to-
tal stock outstanding paid from l to per
cent, 6.53 per cent. outstanding paid from
to per cent, $50 per cent. outstanding
from to per cent, 3.5S per cent. out
standing from to per cent, and 4.62
per cent. outstanding from 20 per cent.
The total amount of dividends was $751;
nO599 which would be produced by an
average rate of SAB per cent. on the
amount of stock on which some dividend
was declared. The amount of mortgage
bonds paying no interest was $6l5 259 $3.50,
or 10 50 per cent; of miscellaneous obi
cations, $37, S45, $40, or SGT per cent, and
income bonds, $215, 944,972 or 81 81 per cent.
The amount of current liabilities outstand-
ing on June 30 1897, was $57S, sol 6S5, or 49,
l56 per mile of line.
The number of passengers carried dur
ing the year ending June 80, 1897 as re-
ported, was 4S9, AS, 1888, there being a de-
crease of o, 327, 539 as compared with the
year ending June 80, 1896. The number of
tons of freight carried during the year
was 741,705 946, which is "a, 1S5, 4S9 less than
for 1895.
The gross earnings of the railways of
the United States for the year ending June
49, 1897, as reported for an operated mile
age of 1S3,2S425, were 81, 122 089,77S. In COM
parsOn with the preceding year this
amount shows a decrease in gross earnings
Of $2S,O1S,603 The sources of income com
prsed in gross earnings from operations
Tor the year were, Passenger revenue,
e5l 1892, decrease as compared with the
previous year, $15 426, SOC; mail 1913, 754, 466,
Increase, a,94,647; express, $24,9 ,O66,
Increase $40, 6S3; other earnings, passenger
service, $500 $3.50 freight revenue, $772, SAG, =
a4, decrease, $19, 766, 523; other earnings,
freight service, $4209, $751; increase, 1925, 767 ;
other earnings from operation, including
small amount of unclassified items, $685.,
G9363.
The expenses of the operation of rail-
ways for the fiscal year covered by the
report, We're $52. 764. This amount is
GJ,i64,2S0 smaller than the corresponding
amount for the year ending June 30, 1896
NE operated mileage for that year being
1882 "a miles.
Inc income from operation, that is, the
amount OF gross earnings remaining after
the deduction of operating expenses, COM
monty termed net earnings, was 1858, $780,
w'' This amount is %6l5, 1923 less than the
corresponding item for the Previous year.
ii+NChic IiOu1 OtHeE sources, manly
utfiVed from the leases and investments in
sloo Ks and bonds, was $125,O9O0lO, which,
aa4ed to the income from operation,
SHOWS that the total income of the rail-
ways as a whole was $i94 ,655, 019 The cor
responding amount for the year ending
June 80 1895, was $500, 2O5, O6S The total
ueGuction from incomes were SAB, 1897, 513.
IahlhS this amount from total income
.saysS $ol257, sos as the net income for the
year available for dividends or increase of
Sul Pius. The total amount of dividends
declared, including 1857, 800 other payments
rom net income, was $S7, S77, 989, the result
uelhs deficit from the operations of the
year Of $6,120,4S3.
ne total number of casualties to per-
SI''s on account of railway accidents for
cue . year was 43 Jos. OF these casualties
S'.' resulted in death and 36,731 in in
suilgs OF varying character OF railway
ttp'pioyes, 1893 were killed and 27,667 were
,LyDled curing che year According to the
ace S-ieS general classes these casualties were
Tl,.aIeH as follows: Trainmen, 976 killed
200 injured; switchmen, fiagmen and
,.Iii'lNen, POI killed 2l23 injured; other
NtNI'ItNtS. ais EiI1aH A rst.1