Delaware gazette and state journal., 1900-01-25
Statistic. Of Railways.

In the Interstate Commerce Commits.
sion's eleventh ANNUAL report on the
statistics of railways in the United
States for the year ended June 30th,
1898, the statistician renews his recon-
mendations that reports should be Sc.
cured from express companies engaged
in interstate traffic, from corporations
aud companies owning rolling stock
which is used in interstate traffic, and
also special reports fiom corporations
and companies owning depot property,
stock yards, elevators and the like, and
from carriers by water, so far as their
business is interstate traffic. The
opinion is repeated that bureau OF
statistics and accounts, under the di-
recJion of the commission, should be
established. The advisability Of pro-
viding for monthly reports of earnings
and expenses from operating railways
is also suggested.
An abstract of the preliminary report
on the income account of railways in
the United States for the year ending
June 3Uth, 1899, prepared by the statis-
tician to the commission is also con-
tained in the report. 1t presents in a
concise manner the results of the opera
tions OF the railways during the past
fiscal year. This report embraces the
returns from 691 lines which were made
to the commission prior to November
Oath. The mileage covered is lSo, 2i5. 50
miles, or about 9S Fer cent of the ag-
gregate mileage in operation at the
close of the last fiscal year. The total
gross earning of the railways included
in the preliminary report for tho year
named were 81. 30T, 253, 4S4. Comrared
with the figures submitted in che final
report for the year ending June 3Oth,
1898, 1T appears that the gross earnings
for the year under consideration were
$50, 927, s63 in excess of those of the
previous year. The operating expenses
for the year covered by this report were
Ss52, 42S, lO5, heing an increase as com
raied with the operating expenses de-
clared in the final report of the previous
from operation during the year was
s454, s25, 379. This is the sum from
which interest on bonds, taxes, perma
nent improvements charged to Income
account, dividends, and other analogous
items must be taken. .s
The surplus arising from the
ps,ation of the railways ombsaoed in
the report during the year ending June
Both, 1892 was $50, 76S, 209. When 1T
is recalled that the year ending June
30th, 1886, showed deficit of s3l, ,075,
OBJ, the financial betterment of the
railways Of the country may be properly
appreciated. The dividends declared
by operating companies during the
year ending June Both, 1880, we're
$50. 214, $50, a figure considerably in
excess of the dividends declared the
previnus wear. IL must be remembered
/ tnat this figure does not include tie
dividends paid through the agency Of
subsidiary lines. Inasmuch, however,
as this class of dividends is nearly
constant yeat by year on account oi
the fact that they are commonly
guaranteed in the torn of a lease or oi
a rental contract, the fact that the
dividends declared by operating roads
are not far from Sl7,000,000 in excess
of those declared by the roads in the
previous year may be accepted as Q
fair indication of the increased returns
10 the holders OF railway stocks.