REPORT. To the Honorable General Assembly of the State of Rhode Island, at their January Session, A. D. 1882: The Railroad Commissioner takes great pleasure in submitting the following report: The general volume of business of the year shows a marked increase both in the number of passengers and amount of freight transported, yet while the total receipts are increased very materially, their total expenses are increased to a still larger amount, making their net earnings even less than that of the previous year. This very peculiar result is explained in detail in the financial summary. Many prominent persons speak of the condition of railroads in our country as yet in its infancy, yet when statistics show us there were, in 1879, over 86,000 miles of track, we must admit the infant has already attained a very visible growth. During the past year very many new roads have been projected, and I doubt not but what the coming year will show a further decided increase of mileage of tracks. Improvements in matters connected with railroads have fully kept pace with the improvements in the surroundings, commencing at the track, but a few years since, when the ends of the rails were all fastened in chairs, plainly marking by the noise, when travelling, the precise location of each end, the same being now so connected, making almost an endless rail, and noiseless; and from this, so trifling in itself, but so important, we go over the road-beds, examine the stations and the cars, with all their modern improvements, and we wonder if it is possible that the next twenty years can possibly show such proportional improvements again. An experiment is about being practically tested in the West, the success of which is watched with the closest interest. It is to apply electricity as the motive power for railroad use, and if this should prove practical, it must be a new starting point, and all must commence again, and then proceed with this previously unknown agent. There has been quite an interest shown lately, in Connecticut, to commence operations, in securing stockholders under the charter granted some time since to the Ponagansett Railroad Company, with a view to very promptly commencing building it. A meeting is called there for next month, and when another report is called for I hope this corporation will be included, because by it an important part of our State will then receive the railroad facilities necessary develop it. to I now present tables in detail, showing the result of the work of the year. REPORT OF NEW YORK, PROVIDENCE AND BOSTON RAILROAD COMPANY. For the Year ending September 30, 1881. Capital stock actually paid in.. Discount on bonds.... Total amount of receipts from passengers.. Total amount of receipts from freight.. Total amount of receipts from all other sources.. Total receipts..... Total running expenses, including interest and taxes. Total net earnings.. Rate of dividend paid to stockholders.. Total surplus after paying dividend. Total surplus at commencement of year. Expended during the year for new rolling stock... bridges, depots and ferry..... What amount of last amount was charged to construction account ?. $3,000,000 00 1,300,000 00 None. 73,304 18 73,304 18 6,000 00 522,763 87 366,071 65 68,882 10 957,717 62 657,772 03 299,945 59 8 per cent. 59,945 59 47,194 70 49,430 69 No account. No account. 149,214 57 None. What amount of same was charged to expense, or profit and loss account?.... All. Balance of construction account at commencement of the year. 1,460,183 58 1,499,323 70 67,454 38 Total number of passengers carried during the year. Aggregate cost of the same as the account now stands.. Number of passenger cars owned, wholly 32; proportion of 26.. |