550 



MICHIGAN. 



LIABILITIES. 



Capital $797,40000 



Surplus 231,836 00 



Due banks and bankers 74,487 21 



Due depositors 3,541,812 92 



Profit and loss 98,051 86 



Kediscounts 57,011 78 



Interest and exchange 66 62 



Total $4,795,666 39 



In 1881 fifteen banks reported, with total 

 resources, $4,869,714.72. 



The reports of the fifteen savings-banks 

 cover the quarter ending October 2, 1882 : 

 RESOURCES. 



Loans and discounts $9,143,104 29 



Bonds and mortgages 1,708,738 15 



Cash and cash items 1,278,405 40 



Real estate and fixtures 844,186 66 



Due from banks and bankers 1,214,673 52 



Expenses 34,229 89 



Overdrafts 25,44800 



Total $13,748,785 91 



LIABILITIES. 



Capital $1,262,100 00 



Surplus 138,787 98 



Due banks 111,459 84 



Due depositors 11,905,000 79 



Profit and loss 139,891 57 



Interest and exchange 191,545 78 



Total $18,748,785 91 



The increase over the preceding year in loans 

 and discounts is $1,489,130.53, and in the item 

 of due depositors, $1,609,975.43. 



PUBLIC LANDS. The annual report of the 

 Commissioner of Swamp Lands showed but 

 49,668 acres subject to appropriation at the 

 close of the fiscal year. Subsequent to that 

 date, and prior to December 31st, the Board of 

 Control had appropriated 13,980 acres, and it 

 was estimated that existing contracts would 

 exhaust the remaining 35,688 acres, or leave 

 none of any value. 



The Commissioner of Immigration, in his 

 first, concise, and valuable report, classifies the 

 State, United States, and railroad lands sold 

 during the year, and unsold at the close of the 

 year, as follows: 



State lands 



United States lands. 

 Eailroad lands 



177,450 

 474.879 

 226,796 



683,735 

 1,232,367 

 2,857,397 



Of tbe United States lands unsold or subject 

 to location 1,004,140 acres are in the Upper 

 Peninsula, or Marquette district, and 1,875,961 

 acres of the railroad lands are also in the Upper 

 Peninsula. 



RAILROADS. The tenth annual report of 

 the Commissioner of Railroads bears date No- 

 vember 30, 1882, but is principally compiled 

 from the returns made for the year ending De- 

 cember 31, 1881. At that date the number of 

 railroad corporations doing business in the 

 State was 54, and the number of separate man- 

 agements 32, with a total mileage in the State 

 of 4,252. This mileage was increased in 1882 

 (though the detailed statistics of the increase 

 are not included in the report) to 4,545, exclu- 

 sive of 47 miles of ore and forest roads. The 



commissioner says: "Ten years since the rail- 

 road system of the State was confined almost 

 entirely to the southern third of the Lower 

 Peninsula, the business under the control of 

 only thirty corporations, and the whole value of 

 their property represented by a stock and debt 

 account of $259,271,228.40. Now of all the 

 counties in the Lower Peninsula there are but 

 eight Alpena, Alcona, Benzie, Gladwin, Leela- 

 naw, Montmorency, Oscoda, and Presque Isle 

 without railroad facilities. In the Upper Penin- 

 sula the 216-80 miles of railroad in 1872 have in- 

 creased to 397-33 in 1881, and all its counties 

 but three are now connected by rail with the 

 outside commercial world, and the total amount 

 of stock and debt now reported to this office is 

 $507,710,593.69. The capital stock paid in, as 

 shown by the reports for 1881, was $239,505,- 



422.14, being an increase for the year of $78,- 

 925,102.09, or 49'77 per cent. The large in- 

 crease both in stock and mileage is principally 

 credited to the Chicago and Northwestern; 

 Detroit, Mackinac, and Marquette; and Wabash, 

 St. Louis, and Pacific Companies. The stock 

 per mile is reported at $20,890, being a decrease 

 of $6,486.48, or 20-02 per cent. The funded 

 debt was increased during the year from $142,- 

 212,896.73 to $245,907,462.77, and the floating 

 debt from $11,159,142.17 to $22,573,142.02; a 

 total debt increase for the year of $115,128,- 

 295.89. Notwithstanding this aggregate in- 

 crease, the decrease per mile was $2,739.54. 

 The total cost of the properties is put at $487,- 

 560,525.79, being $42,520 per mile of road, 

 while the total stock and debt aggregates $507,- 

 710,593.69, or $44,275.71 per mile. The 

 amount of stock and debt chargeable to mile- 

 age operated in Michigan is $188,257,300, the 

 cost of which was but $173,682,876.96. Excess 

 of stock and debt over cost of road-bed and 

 equipment, $14,474,423. The total receipts 

 for the year were $76,322,484.14, and the total 

 operating expenses, including taxes, $50,454,- 



951.15, an excess of receipts of $25,867,332.99. 

 Against this excess is chargeable : interest on 

 funded debt, $13,825,472.46 ; on floating debt, 

 $310,675.67 ; for rentals, $3,001,321.75 ; leav- 

 ing to the credit of net income account, $8,- 

 730,063.11. Nine roads failed to earn enough 

 to pay their ordinary operating expenses, their 

 deficiencies being $109,965.50. But ten com- 

 panies paid dividends, the amount being $9,- 

 055,250.60. The deficiency in the year's busi- 

 ness, after paying expenses, interest, rentals, 

 and dividends, was $325,187.49. Tbe total 

 number of passengers transported during the 

 year was 18,914,933. Excess over previous 

 year, 5,317,733. The entire passenger mileage, 

 or passengers carried one mile, was 824,103,330, 

 an increased mileage over 1880 of 262,120,506. 

 The average distance traveled by each passen- 

 ger was 43'57 miles, for which he paid 98 cents, 

 or an average rate per mile of 2'238 cents. The 

 tonnage of freight of all kinds during the year 

 was 37,779,555, an increase over 1880 of 10,- 

 949,005, or 40-80 per cent. The total freight 





