The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-01-02
FEWER FAIL URES
AMONG RAILROADS
TOTAL GREATER THAN. FOR. PRE-.
cEDiNe BRIEF PERIOD BUT
FAR LESS THAN jon ANY t2
MONTHS FROM 1881 TO 1900.

From a forthcoming statement by
chez Railway Age it appears that dil-
ring the year 1894 eight railways with
total Of 744 miles and a capiializa-
ton of s3G,GG9 900. $14262.0Oo being
in bonds and SCI .SO7 900 sin stock,
We're placed in the hands of receiY-
ers, says the Chicago Tribune
Compared with 1908 the number OF
roads Is one less. but the mileage is
greater BY SIS and the capital in
yolyed is abou double.
The principal road for Which q re-
ceiver was appointed was the Datfoi
Southern with a length of 329 miles
or more than one-half the total fer
the year, while its bonded debt of 49,
10000 and "a capital stock of sl7-
100000 make a to-al of $25, 1600 600 OF
more than twothirds tine entire cap
itallzation subjected to reeeiyership.
The next largest road on the list is
the Brunswick and Birmingham, 119
miles, bonds s2,1o0,000. capital stock
s1695,000 The receivership was d
preliminary step TO the absorption of
this road into the Atlantic and Bir-
mingham, which was completed by
foreclosure later in the year
Il The only other roads forswhich re.
ceivers were appointed were the
Queen AIMS (Maryland and Della,
ware, 50 miles; Berkeley Is. ca, 10
mllec Texas Southern, II miles; Gin.
cinnsti, Rluffton and Chicago, 20
miles; Chicago. Indiana and Eastern,
A3 miles, and Raleigh and Western, s
miles. The receiver for The last com
pany, appointed in March, was dis
charged in August and the. road was
thus taken out of The list
Compared With 1881 and 1900.
Whi.e the receivership record for
1904 hows greater mileage and cap
italization Than in any OF the three
preceding years. it is much smaller
in respeo. to the number of roads,
mileage aud amount involved than
that of 1900 and of any previous year
since 1881.
Tie record of foreclosure sales in
the year shows that compared with
1903 the number Of roads sold is the
same. The mileage is thirty-fye lest
and the capitalization involved is $12,-
10000 more The roads sold las,
year wpra all Comparatively small,
iae largest beng the Brunswick and
birmingham.
The largest in respect to capitali2a-
fion Is the Denver and Southwestern,
sncccz scr to the Midland Terminal,
Florence and Cripple Creek, Canon
CITY and Cripple Creek and Golden
Circle railroads, which had pagsei
enc reorganization.
The Denver and Southwestern, in.
GLIDING numerous spurs and branches
to mines, operated $50 mileai Of track
ana represented $5,41400O of bondo
and S5.oO000O of capital stock. The
next largest read was the New York
and Ottawa, GO miles; bonds, $3.50.
000; stocks, s2540,000 The other
roads in he foreclosure list are: Una
dilla Valley IN. Y). 10 miles, and
Forest City and Gettysburg, % milesi
Philadelphia and Brigantine, IA miles,
Colorado and Northwestern. 80 miles;
Denver. Lakewood and COLLEEN, "a
miles; Lake and River ashland and
Wooster), % miles; Lehigh ana Lack
awanna. &c miles; Kansas and South
ern. 8 miles; Gainesville, Jefferso9
ana Southern, 65 miles; and Musca.
tine. North and South, 20 miles.
oId Troubles Settled.
The financial troubles OF these
roads date back several years and are
NC. the result OF recent conditions.
Since 1896, when the foreclosure sales
represented Gfiy-eight roads wi h a
length Of 1880 miles of lines and a
bond and stock capitalization of ST.
150.37I000. there has been rapid
decline in tae foreclosure record, and
tae figures for The year. involving on
ly SPA miles and little over $2S,e00.
600 of capitalization, indicate that the
Ions list of roads that went bank
rupt in the disastrous period of the
'90s have nearly all been started on
new and prosperous career.