The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1902-01-22
The Railroads of The World.

Some interesting statistics have re-
Gently been printed concerning the
railroads of the world, and especially
the railroads of the United States. 1t
is shown that of the total mileage now
open to traffic North America has
226. e57 miles, Europe 1853, sos, Asia
s.. $50, South America 2S, 364, Africa
$3.50 and Australia 15, 202. Mexico,
which in 1873 bad but one railway
> 264 miles long, from Vera Cruz to the
capital city, now as network Of 9, 6O3,
miles. while the Canadian systems
now cover II, ,657 miles of track.
This shows that America is we'll in
the lead in railroad building, and it
is also we'll in the lead in the opera
tion of railroads. In an article in
the December number of Traction
and Transmission, the monthly sup
plement to the London Journal, Engi
neering, is an article by Robert 2.
Porter, which is reviewed in the
Sunday issue of the New, York Sun.
Mr.. Porter draws a striking contrast
between the condition of railroads in
this country now and five years ago.
He points out that at that date nearly
one-half of the enormous sums invest
ed in railways, amounting in the ag-
gregate to about twelve thousand mil,
lion dollars, brought no returns: that
the loss of railway revenues by the re-
duction of rates between 1890 and
1895 was in round numbers 800, 600, 600
of which s5, 600. 600 was due to reduc-
tions in passenger rates and $50, co.,,
600 to reductions in freight rates. He
says that 10 per cent. of outstanding
shares paid in 1895 no dividends, and
that this was true also as to the inter
cts on II per cent. of the bonds Of
these companies, which means that
Eve thousand million dollars worth of
these investments were non-produc-
tive.
But the situation is very different
today. According to this writer the
payrolls of the railway companies of
the United States have increased from
$40, 900, 600 in 1895, to s577, 600, 600 in
1900. Machinists, carpenters and
other skilled workmen classified with
them got s2s, COO, COO; trackmen got
s21, 600, 600: engine drivers and fire
men got ss1S. 600. OC0; conducutors got
$500, 600, switchmen, fagmen and
watcbmen got over S., 600, 600, whereas
the total sum paid to officers of these
companies was something less than
1925. 600. It is further pointed out
that while s577, 0C0, 600 went on the
pav-roIls, the stockholders and bond
holders received 1892, coo, 600.
But the railroads Of this country
are becoming more and more prosper
Gus and more and more renumerative
to those who own stock, and 1t must
be remembered that the stockholders
are bv no means confined to the rich
class. Railroad stocks and bonds are
held very largely by men and women
in moderate circumstances, which
means that they are regarded now IS
good and safe investments, wnlle IN
former DAYS their value was for the
most part speculative. These good
results have been brought about by
better management and by enlarge
ment Of the principle OF community
Of interest, % as it is called. Railroads
have been incorporated into systems.
and the systems have been operated
in harmony. thus avoiding in rgeat
degree disastrous rate c1tting.
We do not know it to be fact, but
it is said by those who have made a
study Of the subject that in the Uni
ted States, where tie railroads are
owned and operated by private corpo,,
rations, the people have better and
cheaper facilities than are afforded II
other countries where the government
is in control. A great deal has been
said and is being said about the dan
ger of railroad consolidation, but for
our part it seems to US that the bene-
fits of consolidation have been far
greater from every point of view than
anv disadvantage that has come either
to the railroads themselves or to the
general public.-Richmond Times.