The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-14


some intel ling sta sssttcd have recent
il been printed conce rnfng railrgad 2
& the world. and especially the alffoads
Of the united State is shown maj
the total mileage now open s 20 4 Y yliao
North America has eas .s57 miles, B El'.1.p
1906. Asia $3.50. South AMERICA = sos'
Africa 1880 and australia = Mexico:
which In 1873 had but one IA iItssay "; "
miles long. from Vera Cruz to the CAPT. lI'
tar city. now has network OF 9,osS
miles while the Han systems now now
covers 1867 niles Of track.
THIS shows that america is well In eeef1s
lead In Tailroad building. and II is also
well In the lead In the operation OF OF rall-
roads. in ali article In the December
nrfrt,er az fraction and Transmission
the monthly supplement- to the LONDON 'N'
Journal Engiheerfng! IS AN article f by.
Robert p. Porter, which is reviewed IN
the Sunday issue Of the New York l1s9 Sun
Nj Porter draws a striking CONTRAST be-
tux cen the condition Of railroads In. this
country now. and five years go lie
points out that at that date nearly one
half of the enormous gums invested IN
railways, amounting in the aggre gate 20
about twelve thousand million dollars.
brought no returns: ! that the loss Of rail-
way revenues by the reduction Of rates
between 1890 and 1885 was in round num-
bers $780, 900 Of which is15 100000 was
due to reductions in passengerErates and
SIS, oco, 600 to reductions III freight rates
He says that 20. per cent of outstanding
shares paid In 1895 no dividends and that
this was true also as to- eiinterestS on57
per cent. of the bonds of these companies,
which means that five thousand million
dollars worth OF these Investments We're
non mod ,,cfiye.i .-s& sse~s
BUT the situations Us very different To-
day According to this writer the pay
rolls of the railway companies OF the
United States have increased from $780,
ooeoo In. 1885, to 600 irsa d a
chinists, carpenters and other skilled
worknien classified with: themAfgot szs,-
ooD,ooo;5 trackmen got Es21, coo, COO: engine
drivers and firemen got s1s,o0o0oo: con-
ductors got ss,5oo;uoo; switchinen; fla gnen
ana ;watchnen got over. S, ooo, 600, where
as the total sum paid to officers of these
companies was som etf1.11g less than ss25,-
eeoss-It is further pointed oat that while
s577, d5o. 900 went ~on 5stile pay-rolls, tho
stock holders and abo11dholders- received
ssa2 oS,poa 5.aa!s51a2;; ;sfFs -ts+as .
a:But ttle.s IA iiroaas s. of thisss-country are
becoming more and more prosperous and
more and moro rernunerative to; those
who own stock, and it must be remem-
beref that the stockholders are by no
means confined to the rich class. Rail-
road stocks and bondsEare held very
largely by men and women in moderate
circumstances. which meats that they
are regarded nov as good and safe IN
vestments, while in sformer days their
value was for the most part speculative.
These good results have been brought
about by better mana genent@and by en-
largement of the principle OF "commu-
nifty of interest as it is called. Rail-
rcads-%have been incorporated into sys-
tens; and the systems haye.-been-epe
g =
rated in ifar7neny,St bus avoiding. AZ a
great disastrous -Eate cutting. 80
we do not know lit be a fact, sbut
1T is said by those who have. mad q
study of the subject that IN the United
States where the railroads are owned
and operated by private fcorpera tons the
peopie better-tand cheaper facilities
than are afforded in other countries
where the. government is iii control a
great deal, has been said and being
said about the danger, OF railroad console
dation, but for our part it seems to Jus
that the benefits of consolidate have
| been far greater from every point OF
| view than any disadvantage'Eth has
come either to the RAILROADS themselves
| or to the general public.
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