The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1912-04-18
Railroad Capitalization.

We have frequently heard il said
that the American railroads as a
whole, are greatly over-capitalized,
due to improper financial methods in
the past. or to announcement, or
some other equally indefensible cause.
The capitalization per mile OF railroad
In Germany. as last reported, was
100000, in France $4,000 per mile,
in Belgium $4,000 per mile. in Eng
land s274.O00 per mile. and in the
United States 100000 per mile. so that
In spite OF alleged stock watering COM
planned OF, IL appears that the capitali-
cation OF American railroads Is less
than onefourth what il is in England.
and less. on the average. than one-half
what II Is in the other European coun-
tries which I have mentioned.
In the matter OF charges, we find
in the last published report of the
interstate commerce commission that
the average rate per ton per mile
charged by American railroads, is
7.53 mills. II Is impossible TO find
out precisely what the charges are for
similar service on European roads. but
! believe ] am conservative in saving
that the rate per ton mile in England
Is from two to three times as great
as IL is In America. II Is frequently
stated that passenger fares are
cheaper in Europe than they are in
America. and that Is undoubtedly true
as TO certain classes. but when the
character OF the service is considered.
together with the fact that on Amer
lean railroads $50 pounds OF baggage
per passenger Is carried free. while
In Europe there Is no such free ser
Vice. Il will be found that the cost OF
travelling in this country is az least
no greater than II Is under similar con-
ditions abroad
In connection with this same mat
ter. II Is also interesting to note that
the wages paid railroad employees I'm
this country are from one 70 three
times as great as they are In the Euro
pean countries above mentioned
In conclusion, the Baltimore g. Ohio
Railroad Company has been subjected
with the railroads generally 70 all the
Influences which 7 have above re-
ferred 20. We have gone along with
our improvements. however. during
the last two years. firm in the belief
that IN time a better understanding
would come about
West Virginia Benefited.
West Virginia. with It's SO 1000 600.
900 tons % coal still in the ground. It's
petroleum and cheap natural gas.
With its 800 oO0 acres 81 virgin Tor.
eet. lts limestone. cay. farm and
Ernzlng lands and its delightful eli
mate. is veritable storehouae Of
framc The Baltimore & Ohio com.
pany appreciates that the interests 81
The railroad and ~ your State should
be and arc Identical Tho production
~ coal in West Virginia has already
reached the enormous sum ~ IS 900 4.
600 tons per annum. second only 10
tho production Of tho state 81 Penn.
ryivanla. and soon believe 10 h. In
excess ~ that Tho vaatneaq 81 the
Industrial possibilities Of West Nlr.
Einia is dimcuit 10 comprehend. and
the Baltimore a Ohio company o. not
only willing. but anxious. % help Dc
velop Them. Very shortly after Z
came ~ the baltimore a ohio Rail
road a. its president. might almost
cay before Z had actually reached my
once ] vas waited upon By commit.
toe ~ distinguished gentlemen from
West Virginia. urEinE the necessity
Tor nddfional facilities % meet the ln.
dustrial requirements % your state
After very FUN discussion % tho
question. 7 promised, subject % the
approval ~ the board. that efforts
would b. made 20 start af once i'm.
provements ~ such character as
would Increase the carrying capacity
% the company into and ont ~ West
Virginia nifty per cent above what ~
WIS at that time. and : ON happy 90