Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-11-21
TINE EMPIRE OF the RAILWAYS.

TINE EMPIRE OF the RAILWAYS.
Advance sheets of Poors Manual are
devoted to statistics of the American
railways and while figures are often
dry there is an incomprehensible mag
uitude about those representing the in
yestYnents and earnings of the railroads
Of the United States that attracts and
interests the ordinary reader. Accord
ing to the Manual. the total resources
Of the Systems representing the 2oS,l5l
miles Of railway trackaga in the United
States are stated to be over 14,03l mill
ions OF dollars. OF which something In
excess of $4,000 millions stands for cost
OF road and equipment and invest
ments. The capital stock of the Ameri-
can railroads is nearly 6,100 millions of
dollars and funded and unfunded debt
n e.775h millions. These roads earned
gross nearly 1,72l millions of dollars,
and their operating expenses amounted
20 1,160s. millions. leaving approx
rnately $50 millions net. In addition
seventy Height millions additional re-
ceipts are reported. making 63s mill
ions net available revenue. In other
words, railway capital earned over 8
per cent last year.
The freight and passenger move
o1p
comprehension. The number of passen-
wers carried vas 655.130,236, and the
passenger mileage was 1906, 600, 00o
This is equivalent to ride of 246 miles
Dor every man, woman and child in the
United States.
The freight statistics are even more
Impressive The tons of freight moved
aggregated 1892, 100000 and the tons
moved one mile reached the stupendous
eotal OF 15s, 900, o0O or course this
Rgure is beyond comprehension. but an
edea OF what 1t means may be gained
Nv saying that 1t repre- sents the pass
oge Of one ton of freight around the
oarth at It's largest circumference
e,265.0O0 times-in other words. 1875
CONS started daily around tie earth APP
proximatesethe freight movement of
the United States.
Counting carload at thirty tons,
which is above the commercial aver
age, 1t would require nearly 600 cars. or
thirty trains OF twenty cars each,
around the globe daily to carry the
freight traffic OF the United States. The
average haul per ton on the railways
a. the United States last year was APP
uroximately 1873 miles. Sirce the tons
Of freight moved were 1,192,200s 900, 1t
follows that IL all this freight had been
loaded at once for its average journey
NO less than 3s,737.ss4 cars OF thirty
tons capacity would have been re-
ou,red. II these cars are figured q:
forty feet each, the total represents
length of S03.050 miles, or train
reaching around the earth more than
twelve times. Every car would have
TO be mo, ed about 200 miles to make
MP the traffic total OF the country.
So much for traffic figures. The gross
earnings Of the railroads of the United
States, as stated. amounted to 1,72l
millions Of dollars annually. This Is
at the rate OF over $l.700.oo0 for every
day in the year. or S3.2S4 every minute
OF the dag of twenty-four hours. The
railways pay annually 1859 LIS mill
ions OF dollars in the way of operating
expenses. interest. dividends, wages,
etc. This means that they distribute
every minute at the rate Of $4,62S,227
daily. or 1924 every minute. to bond
holders. stockholders employees. etc.
And these earnings are accumulated at
the extremely low rate of .764 cents for
hauling ton OF freight one mile. and
2.012 cents for carrying single pas
senxer the same distance.
The average gross earnings per mile
Of railroad last year was $s.696, as
compared with 1920 the year previous,
while the net earnings we're $3.50, an
increase OF $e2 per mile. Operating ex-
penses were s7.45 per cent of earnings.
The average interest rate on bonded
Indebtedness last year was 4.o7 per
cent. decrease of IA perecent, and
the average dividend rate was 2.9s per
cent. an increase Of. 81 per cent.
CWics AND RELIGION.
trio NaRo inooo nonNo-ancn af Ya-.uy