584 THE POPULAR SCIENCE MONTHLY. 



The most conspicuous difference here shown is that between the 

 tonnage of the Central Pacific and the Eastern roads. This must be 

 considered in noticing the rates charged ; for the revenue depends not 

 so much upon what rate is charged as what it is charged upon. The 

 average rate of these Eastern roads is -fo of a cent, while the Central 

 Pacific charge is 2^- cents. But, on the other hand, the Eastern lines 

 hauled upon an average, to each mile of road, 1,989,851 tons ; which 

 is a rather strong contrast to the 229,050 tons hauled by the Central 

 Pacific. While the average rate of the Western company is two and 

 a half times greater, the tonnage is eight and a half times less than on 

 the Eastern lines. The difference in the rates thus seems to be more 

 than counterbalanced by the great disparity shown in the traffic. 



Among other inequalities which command consideration in any 

 comparison of the rates of different roads is, in addition to the amount 

 of traffic, the miles of road on which the traffic is carried. There must 

 clearly be a great difference between the expenses of two lines, the one 

 having 100 miles of road with a traffic of 10,000,000 tons, the other 

 having 1,000 miles of road with the same amount of tonnage sup- 

 posing, of course, that the average distance each ton is hauled to be 

 the same in either case. Many of the expenses, in connection with 

 stations, etc., are nearly ten times as great in the latter as in the 

 former case, while all the expenses of maintenance and operation are 

 much greater with the longer than with the shorter line. 



There is, of course, added to this, the consideration of the value 

 of the property. A line, for instance, of 100 miles, representing 

 $5,000,000 of value, would make, other things being equal, ten times 

 the profit of a road of 1,000 miles, representing $50,000,000 of value. 

 An equal amount of traffic upon roads between which such disparity 

 exists places the shorter road at a great advantage in any comparison 

 it would make a larger net profit, though having a smaller capital. 



Any approximation to an equality of conditions must thus recog- 

 nize, in addition to the amount of traffic, the miles of road operated. 

 Taking this into consideration, we find further that the average net 

 earnings per mile of road operated, from the freight traffic on the 

 above Eastern lines, is $7,285 ; and upon the Central Pacific it is but 

 $2,949. We should consider, on the other hand, that, although the 

 Central Pacific system of roads twice crosses the Sierra Nevadas, has 

 many expensive tunnels and snow galleries that cost $40,000 a mile, 

 yet the Eastern lines represent more value, as a portion of each road 

 has double tracks, and the New York Central, for a distance of 286 

 miles, has even four parallel tracks.* Fully considering these differ- 

 ences, however, there still appears no such difference in the values as 

 exists in the net earnings. The conclusion, therefore, seems fully 

 justified, that, although the rates on the Central Pacific are greater, 

 the net receipts are less, than on the Eastern lines ; and the difference 



* " Report of the New York Central Railroad to State Engineer," 1880, p. 9. 



