The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-12-20
A YEAR WITH
THE RAILROADS
DIVIDENDS HAVE INCREASED.
INTERSTATE COMMERCE. COMMITS
sION'S ANNUAL REPORT.

sION'S ANNUAL REPORT.
A Review of Railway Operations
During 1904-The Gross Earnings
of 80 Per Cent. of the COuntry's
Mileage Were Close to S2,O0O-OOO
OOO-The Dividends S23,JOO,0 O0
Greater Than in I9O3-Increase in
Number of Passengers Killed
64I-2 Per Cent.-6,OOO Collisions
During the Year-The Need of Eff
fective Measures for Preventing
Accidents.
Washington. Dec. 19.-The annual re-
port of the Interstate Commerce Com
mission was submitted to Congress to-
day. After an opening statement con-
corning railway operations during the
year, the commission proceeds direct
ly to discuss the regulations of rates and
the amending legislation deemed neces-
sary to enforcement of the statutes.
1t deals with the use of private cars
in freight traffic terminal railroads, the
various Investigations it has held and
the complaints it has heard, its de-
cisions in various cases, etc.
As a concise presentation of the re-
suits of railway operations, the COM
mission publishes each year a prelimi-
nary report on the income accounts of
operating roads. This report issued
as soon as practicable after the close
of the fiscal year, and thus it precedes
the final and voluminous report on rail-
way statistics prepared by its statisti-
can. For the year ending June 30, 1904,
the preliminary report embraces re-
turns for roads representing 2O9,0O2
miles of line, or about SO per cent. of
the mileage that will be covered by the
final report.
Earnings of Railroads.
The following statement gives the
principal items in this preliminary re-
Eort:
On the mileage stated the gross earn
ings of the railways were $1,966, 6SS, S21.
The gross earnings for the previous
year, on 205,913 miles, were 81 800, SAG, 9O7,
as shown in the final report for that
year. For 1904 passenger earnings
dAiAVdAASNd ~ 9oO1stAosOf1 lE6lRnI earn
ings to Sl,377, 6S4,976. and miscellaneous
earnings to 49,520,471. The average of
gross earnings per mile of line was
$9,410. This average exceeds that for
1903 by $l52, and is higher than the
corresponding average for any previ-
Gus year since the organization of the
commission. OF gross earnings per
mile, $2,581 were assignable to the pas
senger service and $6,592 to the freight
the railways for the year ending June
80, 1904, as shown in the preliminary
report, amounted to 1882, 49,, 94S, being
equivalent TO $6,375 per mile of line,
or $3.50 more than for the year 1903.
The ratio of operating expenses to
earnings was 67.75 per cent. This
item, as shown in the final report for
the previous year, was .16 per cent.
The net earnings of practically the
same roads. as included in the present
statement, were. for the year 1904,
$G34, $50, S7S, and for the year 1903, $780,
644,13S. The total income of the roads
covered by the preliminary report was
$735. 037 ,557. This amount includes
500, 1864, derived from investments
in securities of railway and other cor
porations and from various other
sources.
Increase in Dividends.
The aggregate of all the deductions
from income chargeable against the
total income was $3.50, 95S, $40. These de-
auctions chiefly were interest on fund
ed debt, rents of leased lines, perma-
nent Improvements charged to income,
taxes (Which were $56, Ara 1867, and div
idends. These figures indicate th~t
the surplus resulting from the opera
tions of such roads as are embraced
IN the advance report was So, 07S, 947 |
The final report for the year ending
June 80, 1908, covering both operating
and leased roads. showed a surplus of
Ss9,227, 1859. According to the prelimi-
nary report, the operating companies
included in it declared dividends sdur-
ing the year amounting to 1884. 49,
446. 1t appears also that the dividends
declared by essentially the same roads
during the year 1903 were $160, S56. 307.
thus showing an increase of 1923. 594. 1919
in dividends for 1904 AS the report
under consideration Is confined to the
returns of operating companies, it does
not include any statement of the divi-
bends declared by subsidiary COM
panies, the property of which is leased
TO others for operation. The income
which these companies receive is sub
stantially the rent paid to them Nv
TIE lessee companies from which their
own corporate expenditures, includ-
ing dividends. are made.
Railroad Accidents
The article in the report on railroad
accidents opens with a table giving the
principal totals for the years ending
June &c. 1902, 1908, 1904. There were
1886 employees injured and 1857 killed
IN 1904, as compared with S3.71l iniur-
ed and 2,516 killed in 1902. The figures
Tor 1903 are intermediate between those
for 1902 and 1904. In 1904 there were
S,0I7 passengers injured and APO kill
ed; in 1902 6,0S9 injured and 300 killed:
IN 1903 there were 6,973 injured and S2l
Killed. The increase in the number
OF deaths of passengers in train ACCT
dents In 1904 compared with 1909 Is
641s per cent. The fact that there
We're ten unusually disastrous acct
dents during the year is mentioned.
with the statement that notes concern
ing the causes of these accidents will
be found in the appendix to the report
Inc number Of deaths resulting from
these ten accidents. eight OF which
were collisions. is about % per cent.
OF the total number killed In ali the
train accidents of the year. which
comprise over 5000 collisions and 4.sOO
derailments.
Means for Preventing Collisions.
Although there has been earnest dis
oussion OF the subject In the press. II
- noticeable that the very magnitude
OF the questions involved appears to