RAILROADS. 

 TABUS V. Mileage, Capil.iluation, and Cott. 



TABLE \ I. Railroad <iriiiiig$. Expense*, Interttt, and Dividend* 



ctiue train mileage, passenger and freight traffic, and 

 cross traffic earnings of all the railroads in the United 

 States for six years, 1882-87. inclusive. 



Tables V. and VI. show the length, capitalization, 

 debt nnd cost of the railroads of the United States at 

 the close of recent years ; the average length of same 

 operated during such years, and the earnings, ex- 

 penses, interest and dividend payments thereof. 



An examination of the statistics of capitalization 

 and debt (see Table V.) shows the following aver- 

 ages per wile of railroad for the past six years : 



Capital stock Bonded debt Cost of mad 



Year. per mile. per mile. per mile. 



1887._ $28,321 $28,290 $52,699 



1886 29,925 29.062 54,301 



1885 29,867 29,4. r ,3 .>:, 



188J 30,064 29,317 6,1,329 



1883 3" 28.650 55,401 



1882 30,674 28,268 62,726 



The steady decrease in the average cost of road 

 and equipment per mile during the past five years is 

 the must striking feature of this table. It is due 

 larecly to the fact that the new lines of railroad 

 built within that period for the most part run through 

 sections of the country which present no extraordi- 

 tiiiry engineering difficulties ; and in no small degree 

 t<i the wnnderful improvements that have been made 

 in the manner of constructing railroads the great 

 speed secured by the massing of veritable armies of 

 workmen at various points of the road, and the ex- 

 traordinary reduction in the cost of the chief articles 

 that enter into the construction of such work. 



A comparison of these statistics bv the eight groups 

 into which the country has been divided thows the 

 following relative averages for 1 887 : 



Capital Mock 

 Group*. per mile. 



New England $.1.1.801 



Hid. Me Atlantic 57.982 



Central Northern 23.688 



South Atlantic 19,888 



Booth Central 23,7.19 



South-western 23.470 



North-western 22,368 



Pacific _ 80,443 



Bonded debt Cost of road 

 per mile. per mile. 

 $52,613 

 97.043 

 M.SM 

 36,014 

 48,809 

 4.1.429 



$20,911 

 57,451 

 24.868 

 19,911 

 27.640 

 22.594 

 SMM 



IS -M 



4S I -.'.-, 

 61,054 



The following Mntement shows the relative earning 

 capacity of the railroads in the several groups dur- 

 ing 1887 : 



Passenger Freight Gross Net 



earnings earnings earnings enrning* 



Gronps. . per mile, per mile, per mile, per mile. 



New England $4,168 $4.801 $9.4!i.i $2,758 



Middle Atlantic 3,373 9,696 13,560 5,067 



Central Northern 1,563 4,509 6.479 j,'_'.-4 



South Atlantic 9,17 2,4.11 3,740 1,163 



South Central 1,247 3,710 6.274 1,817 



South-western 1,135 3,3>3 4.873 1,676 



North-western 1,079 .1.320 4,720 1,844 



Pacific 1,699 8,820 6,205 2,455 



Whole U. S., 1887..... $1,756 $4.649 $6,861 $2,444 



United Statea, 1886.... 1,693 4,397 6,570 2,376 



" 1885 1,612 4,219 6,265 2,185 



During the past six years the relation of passenger 

 earnings to freight earnings in the whole country has 

 varied but slightly ; passenger earnings usually aver- 

 aging about 26 per cent, of gross earnings, while 

 freight earnings have averaged about 67 per cent 

 Comparing the groups, however, wide differences arc 

 shown. In New England passenger and freight ap- 

 proach nearest to equality, the former being 43.89 

 percent of the gross, and the latter 50.56 per cent 

 The greatest disparity is in the North-western States 

 and in the Middle States, the proportion for passen- 

 ger earnings in the former case being 22.86 percent. 

 of gross as against 70. 33 per cent for freight earnings, 

 while in the Middle States the respective percentage* 

 of passenger and freight earnings were 25.18 

 and 72.36. The following statement shows the 

 relative proportions of passenger, of freight, and of 

 miscellaneous earnings to gross traffic earnings in the 

 several groups of the United States in 1887 : 



Pa,senirer 

 earnings. 

 Groupi. Percent. 



New Knglnnd 4.1.89 



Middle Atlantic 25.18 



Cvntnil Northern 24.12 



South Atlantic 2506 



South Central 23.65 



South -western 2.1.29 



North-western 22.86 



Pacific 27.38 



Freight 



earnings. 



Per eent. 



BOM 



72.36 

 69 59 



United States 25.82 



7ii:t4 



69JI2 

 70.33 

 61.56 



M.M 



Other 

 earnings. 

 Per Cfiit. 



.-,:.-, 

 2.46 

 6.29 

 9.93 

 6.H1 

 7.69 

 681 

 11.06 



5.80 



In this connection the following statement of pas- 

 senger traffic in the several groups of the country 

 fi.r is7 and of the whole United States for the 

 years 1883 to 1887 w instruct ive : 



