MICHIGAN. 



503 



the miles of road lying in the State was $63,- 

 529,917.86. 



The total debt liabilities of these roads were 

 $156,468,863.46, of which $95,674,237.07 is 

 applicable to the miles of road in the State, or 

 $30,128.56 per mile. 



The combined stock and debt amount to 

 $56,862.77 per mile of road. 



The cost of these railroads and the equip- 

 ment with which they are operated amounts 

 to $54,453.91 per mile. 



Earnings and Expenses. The gross earnings 

 of the thirty-four roads were $45,899,289.74, or 

 $8,179.94 per mile of road operated. Of this, 

 27 per cent, was from passengers, 2 per cent, 

 from mail, 1-fo per cent, from express, 69 per 

 cent, from freight, and ^ per cent, from mis- 

 cellaneous sources. 



The total of operating expenses was $30,543,- 

 249.13, or $5,442.52 per mile of road. This 

 shows a decrease, as compared with the previ- 

 ous year, of 8-$& per cent. 



The earnings per train per mile were, for pas-- 

 senger-trains, $1.59 ; freight-trains, $1.71 ; or an 

 average, for all trains earning revenue, of $1.65. 



The average expense for operating, per train 

 per mile, was, for all trains, $0.91.7; and for 

 trains earning revenue, $1.10. The interest 

 expense per revenue earning train per mile, 

 was 39 cents ; or a total of train per mile ex- 

 pense of $1.49. 



The interest liability of these roads for the 

 year was (approximately) $10,904,490.46, of 

 which $2,231,044.76 remained unpaid. Eight 

 companies failed to pay any part of their in- 

 terest, and seven companies paid but part of 

 their interest. 



The operating expenses and interest of 

 twenty-three companies exceeded their gross 

 earnings by a total of $2,469,977.26. 



The net earnings for all the roads show a 

 total of $15,356,040.61, or $2,737.42 per mile 

 of road operated. 



The above amount is equal to 5^ per cent, 

 on the total cost of roads and equipment, and 

 5^ per cent, on the investment represented by 

 the paid-up stock and debt. 



But one company paid any dividends during 

 the year the Lake Shore & Michigan South- 

 ern having paid one of 10 per cent, on their 

 preferred stock, and one of 3^ per cent, on the 

 common stock. 



The train mileage for the year was 9,352,272 

 miles for passenger-trains, 18,119,684 miles for 

 freight-trains, 257,173 for mixed trains, and 

 6,068,199 miles for construction and other 

 trains : a total train mileage of 33,824,000, 

 or of trains earning revenue, 27,155,802 miles. 



The number of passengers carried was 10,- 

 268,373; and the passengers carried one mile 

 were 430,392,230. 



The aggregate tons of freight moved were 

 14,318,317, and the tons carried one mile, as 

 reported by twenty-two roads, were 1,932,955,- 

 796. 



The character of the business done may be 

 seen from the following table : 



CLASSES OF FREIGHT CARRIED. 



Per Cent. 



Cereals 15.15 



Agricultural products, except grain 1.94 



Flour 3.98 



Provisions 2.87 



Manufactures 2.18 



Animals 5.17 



Lumber and forest products 17.17 



Coal 6.61 



Iron and other ores 9.77 



Stone and brick 1.46 



Merchandise and other articles 29.54 



There were in the State 759 stations, or one 

 for each 4 miles of road. The thirty-four com- 

 panies employ in the State 15,608 persons an 

 average of four men to each mile of road. 



Mr. Samuel H. Eow, the State Insurance 

 Commissioner, furnishes the following abstract 

 of the insurance within the State for the last 

 five years preceding 1875, the returns for that 

 year not being yet received. 



FIEE INSTJKANCE. 



The mutual fire-insurance companies of the 

 State are limited in territory to two counties, 

 contiguous to each other ; said companies num- 

 bered, December 31, 1874, thirty-five separate 

 organizations. Abstracts of annual reports 

 show (December 31st) : 



The aggregate Michigan business of stock, fire, and fire-marine insurance companies for 

 the same term of years is as follows : 



