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E. L. FREEMAN & Co., PRINTERS TO THE STATE.

1882.

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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 to develop it.

I now present tables in detail, showing the result of the work of

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the year.

REPORT OF NEW YORK, PROVIDENCE AND BOSTON

RAILROAD COMPANY.

For the Year ending September 30, 1881.

Capital stock actually paid in..

$3,000,000 00 Total amount of funded debt....

1,300,000 00 Total amount of floating debt..

None. Interest due within the year.

73,304 18 Interest paid within the year..

73,304 18 Discount on bonds......

6,000 00 Total amount of receipts from passengers..

522,763 87 Total amount of receipts from freight...

366,071 65 Total amount of receipts from all other sources..

68,882 10 Total receipts....

957,717 62 Total running expenses, including interest and taxes.

657,772 03 Total net earnings...

299,945 59 Rate of dividend paid to stockholders..

8 per cent. Total surplus after paying dividend..

59,945 59 Total surplus at commencement of year. Expended during the year for new rolling stock...

47,194 70 Expended during the year for repairs of rolling stock.

49,430 69 Balance of rolling stock account at commencement of year.. No account. Balance of rolling stock account at close of the year.......

No account. Expended during year for maintenance of way, including bridges, depots and ferry.....

149,214 57 What amount of last amount was charged to construction account ?.......

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 Balance of construction account at close of the year.....

1,499,323 70 Balance of construction account at close of the year for Warwick Branch.

67,454 38 Total number of passengers carried during the year.

932,936 Total number of tons of merchandise during the year.

373,628 Number of locomotives owned...

29 Aggregate cost of the same as the account now stands.

I No separate account kept.

No separate Average cost of the same

account kept. Number of passenger cars owned, wholly 32; proportion of 26..

58

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