The St. Louis Republic., 1906-01-02
RAILROADS
R[CEV[RSH|PS Of
YEAR Instructive
Ten Roads. Representing 4l15..
34,:NOO Of Securities. 60 Into
COurt-Except for e., II. 4 ID.
Record ls Good.

New York. Jan 1.-The Rail: cad Gazette
Offers the following interesting inIOsma'
.; ,;sn :. aeSas the railroad reeeivership res'
The hst Of railrosj receiverships dur
Ing the year 1876 Is OH lts face q remark
able one. IN that during the most pros
in this country. ten roz0s have confessed
their inability 70 meet chaSgeo-a Ia.Gel
number tiaan in any Of the previous .ou.
years. These ten bankrupt Companies rep.
! 90 Of total capital. which is more mile
eee and capital than has ,,eme under The
tu1:sd!etic, Of the courts in any y; the
Preceding nine years.
last year rich in !ec~tSershilss Ut the dis
as':ous 1ss; period. Hhsn over 5ty mile.
Of r.i!rosi. With 4 total capitalization
VI over S:.a."S.uss failed. &c fad what
Anne r:can yas!f eac.. This result. wi1c.
!y - vpriance with Tie actual fact. r..
nt course. due solely Z" the Cincinnati. i.
receivsr.hiI=: these the resni;. M, os
iari, times. !.ut Of high tinan.e. which
losdet! the properties involved with some
<.ocs.11 nj new debt.
Leaving these :wO companies o..t 81 the
account. tine other eight railroad. chow
a total mileage of s:s miles and total
Iaiaiixation stock and bonds, "f $.s.-
:s"": against roads viii, = mileage of
about sss. 6."s. that failed In lsss. There
fore. !isi-garding :he two exceptional rs-
cetvefsEips u the year. the record Is q
thoroughly satisfactory onc.
The list OF railroad .ecetveyship< dur
ing the currcn. calendar year IL as fol-
Ohio EIver 1 Western. Ill miles. ssea-
Rans"hy: :, miles. s,s"S bonds. $s.4..
miles. 81 "'' - si.. siqees, .,ock.: Pontiac,
Sxs1rj :ihe,n. lti miles. saeo
: miles. 1850 bond.. ssi6"s, stock: PITTS
hnry. SEawmU, & Northern. ~ miles,
E;*:", bonds. HI; s".oe riock: wi.ca.-
set; SEX ~ Wsts.s.hs % >, & Fsrm!nE'on; 2: miles
Suet.s Northern. - miles. sssl.ss
bonds. 1850 stock: Cincinnati. Hamilton
Z DaysSn lei: miles. Pere Marquette.
Total. ten r,s,I.. s.Ss: siss:ss s y. ,.nls. Ss
1850 sicck. Total BOMBS and stock.
Since the dark days OF 1876: when - rail-
Of line cane '"r the jurisdiction Of the
l.S ,osss asxre. Ai,ns $50 % miles 81 %. % i;n-.
in tn. succeed'as three years. It has come
bankrupt systems have been brought To
condition of stable prosperity and ii.. rail-
road rece:v"rshir' has been ,practical:y
has f.ma!n.i largely 10 he taken a,isam-
tag" 81 by a few scattered. xy1a all aN.. pooT-
~ situated railroads which hmv. not found
a. place in any of the constellation. AMI
ais" as u convenien; means II clearing rp
&c implicated legal situations.
During the four years previous 20 1876
only % railroads. With an average mileage
cf about 20 ~ each. s-,!feTa? r.-.,.iVer-
ship. Through. =. sirs1 seven months
q: tn" current y. q record II failures
Shows little "hase. from this satisfactory
Result. five railroads. with an average. ~
loss than tN miles each. going into recc!,-
eYs' i.aEds.
II - the lasf five ,..on: hs-:.s most urss-
porous Of the year- which have Siack.ne.i
the record. Or August i receiver was
appointed for the Pitfsburs. Shnwi..,., &
Northern. sOii-S0sl rc.sd In Northwest
ern Pennsyivsnia. Operating over 81, miles
OF nne- fr to this date il could b.. SID
that mo- railroad ~ mere than l2s miles
vas under the jurisdiction ~ the courts
fariy IN llec.'inlser caG,.. :hc climax OF the.
Cincinnati. Hamilton 4 Dayton iiasc".
follow I'd by rec-,v. rsi,!p for this normal
~ Prosperous property. and for lis :a..
4 scSlulsiti":'. :he rers Narnne;te. Tneet..-
'hes. tw, railroads !m-iui. e.ms. $50
miles OF line. = total IN .:scif IA rxer shsn
the nii-lx. "i railroads which went ir,o
receiver. hands In any Of IN. iast nr:,-
years. This In itself shows how far IN.
past years rec"i> -rsi,iy. sotai comes from
the Present prosperity vf fh..
OF .hs country