MONOPOLY OF TRANSPORTATION. 



569 



of the railroads of the United States for the year 1887. 



The following table shows the capital stock, the gross 

 and net earnings and dividends paid on the American rail- 

 ways for the years named: 



For each 100 miles of railroad operated in the United 

 States there are 21 locomotives, 15 passenger cars, 5 bag- 

 gage, mail, and express cars and 675 freight cars of all 

 kinds. 



The capital stock per each mile of completed road is 

 129,935. 



The bonded debt to each mile is $29,062. 



The total cost of construction and equipment per 

 each mile, $54,301. 



Gross earnings per mile of road in operation $6,570. 



Net earnings per mile of road in operation, $2,376. 



Interest paid on bonds per mile of completed road 

 $1,461. 



Dividends paid on stock per mile of completed road, 

 $640. 



The above figures are, also, taken from Poor's Manual 

 of American Railroads. As great as the improvement in 

 railways and their equipments is, it is perhaps not more so 

 than the manner of constructing and operating the same. 

 In the early days of railroading the projectors of the 



