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July 7, 1909. 1
SOME STARTLING FIGURES.
Marvelous Story Told by the Statistics
of American Railroads.
The new edition of Poor's Manual, just
published, fixes the records of the American
railroad system at last year's higuwater
mark. The figures are staggering.
There were 228,lz8 miles of road in the
United States on June 30, 1907, which
was more than the mileage of all Europe,
over six times that of any single
European country, and three times that
of the entire British Empire. The American
rail highways would have girdled
the globe nearly ten times, or stretched
from the earth to the moon. The new
lines built in the single fiscal year 1907,
amounting to 5,372 miles, exceeded the
total existing mileage of Japan. The
capitalization of the lines had amounted
to the dizzv asrerp^nte nf SIS KKS QS1 457?
about twbnty times the bonded national
debt. If Adam had lived until the present
time and had begun saving money
from the moment of creation he would
have had to save about three hundred
and fifty dollars an hour ever since to
be in a position now to buy out the
American railroad system. Evidently
the office of Secretary of the Treasury
would be no sinecure if the government
undertook to 'acquire the railroads.
The total income of the roads both
gross and net, in 1907, exceeded anything
ever known before. The gross
earnings were $2,602,757,503, or about
three times the income of the govern
uieni, ana nveniy-six times tne nominal
and four and a half times the actual capital
of the Standard Oil Company. This
is to say, the earnings of the railroads
would buy out the entire capital stock
of Standard Oil In less than three
months. The net income of the roads
was $961,354,681?just about enough to
run the government of the United states
for a year.
The figures help us to understand why
the ralroad managers last year so bitterly
resented attempts to subject them
to the regulation of the State and national
governments. They were doing so well
as they were that they naturally objected
to any interference. The net
oarnincfl nor mUo o taa
? 0w j/vt (U11V TTCIC f Utl VV ill llic
year ending June 30, 1907, against $3,580
in 1900 and $3,129 in 1905, both boom
years; $2, 668 in 1901, another boom
year, and $2,272 in the very prosperous
year 1899. Net earnings per mile increased
steadily every year, without a
break, from 1895 to 1907 inclusive. The
figures in 1907 had never been matched
before, and it may be a long time before
they are matched again.?Collier's
Weekly.
Blessed is the blunderer who profits by
having his blunders kindly pointed out to
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