The daily morning journal and courier., 1899-03-29
THE CONSOLIDATED.
Only Important System Where the Passenger Receipts Exceed Freight Receipts.

Passenger Receipts Exceed Freigh, l Receipts.
 | The preliminary report of the inter- state commerce commission on the in come account of railways in the United States for the year ending June 30, 1898, just issued, contains some very inter- esting statistics. The report covers 72O different railroads, representing a total mileage of 1S1, ,23362 miles. The total gross earnings amounted to s1, ,23S, ,523, 3SO, divided as follows: Passenger service, $S32, 1892, 7S2; freight, sS74,S65, 4S7; other earnings, $30,765,111 The operating expenses of railways during the year covered by this report were $S11, ,241, 45S, being an amount in ex- cess of corresponding expenditures of the previous year of $5S, 716,694 The net earnings for the year were $427 ,2S1, : 992, being a. sum in excess of the net earnings of the previous year of $57,- 716716913. The fact that operating eX- penses did not increase in proportion to the increase in gross earnings is of great significance so far as the mar ket value of railway stocks and railway
 
 ties are much more sensitive to the financial showing of corporation than to the amounts paid as interest on bonds or as dividend on stocks.
 The report divides the railroads into territorial groups and gives the total mileage operated, the passenger, freight, gross and net earnings, total received, dividends and surplus and deficit of each road In the New England group the New York, New Haven and Hart ford road is ahead of all others in the matter of earnings. Its report is as fol- lows: Total mileage operated, 1,4642 miles; passenger receipts, $15, ,901, ,669; freight, ,$14, 0S1 ,856.69; operating expenses, $20, ,S91, ,6S6; net earnings, $9, ,O52; total net income $l0,033, 120;j total deductions from income, $6,112,4S2 dividends, $3,- S09616; surplus from operation of the year, $109,s22 The only New England road which approached the Consolidated road in point of earnings was the Bos- ton and Maine with mileage of 1,715. 22; gross earnings of $19, ,850 9S4, and net in- come of $6751, ,435. The Boston and Maine, with mileage of only 39395, had gross earnings of $9241,65S, net in- come of $3, 153, 499, and a surplus of ESQ., 5Si.
 The only roads in the country which exceed the New York, New Haven and Hartford in gross earnings are the Pennsylvania s65, 5,744 ,6S9 the New York Central and Hudson river, S45, ,240; the Chicago and Northwestern, $36,329, 3S6; the Erie. system, $3O, ,7S1, ,29S; the ino ntlin 553, PIP, and the Southern Pacific $41, ,S43,- 397. In the earnings of the passenger service the New York, New Haven and Hartford road is third in the country, it's receipts for that branch being ex- ceeded by those of the Pennsylvania and the New York Central. The Pennsylvania passenger receipts are $3,- 900, ,000 more and the New York Central S2 900, 000.
 The New York, New Haven and Hart ford is about the only important rail- road in the country in which the pas senger receipts exceed the freight re- ceipts.
 THE GROTON EXTENSION NEAR
 LY READY.
  York, New Haven and Hartford rail- road is nearly completed and Superin- tendent c. c. Elwell makes announce nent that in April through trains from New York to Worcester, and probably | 10 Boston, will be operated over the l lew stretch of rails. Nearly two months | nave been consumed in laying tracks l ,ver what is agreed to be the most per- ! olexing stretch of territory ever en- | ,ountered in the< history of New Eng | and railroad construction.
 The active preliminary steps looking | o the building of the extension were | begun a year ago. The cost was esti- mated at S400,000 and it was expected | hat trains would be moving in six | months. Already $S00,000 has been ex- ,ended, it is believed, and the delay in ompletion has confused all schedules. The work progressed satisfactorily, and ails had been land to within a few feet f Allyns Point, when one hundred feet f track myteriously vanished The sec ion stretched through an arm of the Thames river. There had been no ap- 'arent difficulty in laying the founda- ion and roadbed. A dozen similar ! mall bodies of water had been encoun- cred and successfully coped with.
 Investigation revealed a quicksand ottom more treacherous than ever be- ore encountered by the Consolidated oad in this part of the country, and 1ore time and expense were involved ] subduing it than the entire remainder l the road caused. Three times again was thought the yielding soil had cen mastered, only to have the same xperience of entire submersion. Thou