What It Costs

vvnne many peopie clisouss the earnings of railroads, tbe fares and freights olüitged and kindred topics, but few liave any idea of the figures, which represent the business done, the receipts aud expenses. As au inteiesting item of news, the Argus gleans from the auuual report of the ínter State Commerce CommiFsiou received this week the following f acts and figures relating to the two railroads whicb pass through this city. The figures gven are for the year ending June 30, 1894, and are the Jatest contained in auy official imblication. The Michigan Central owned on June 30, 1894, 270 miles of road and operited 1,633.52 miles, including 378.91 miles not in the United States. The passenger reoeipts for the year ameran ted to $5,214,037 or $2,095 per mile of road operated. The reueipts for carryiug the mail were $317,893 ank for express $407,016, while the receipts from l'reight were $8, 202,890, or if in the freight receipts, the amounts received from the stock yards, elevators etc, is included.the total amouuted to $8,242,517. Tbe telegraph rents bronght in $69.025, and there were a few other little items, which brought the entire reven ne of the road up to $14,250,488. The passenger earniügs per train mile figured out $1,251,194, and the freight earnings per ton per mile to .671 cents. j The operatiag expenses of the Central amouuted to$10,312, 160, or .99235 per train mile, or 7236 per cent. of the earniogs. The operating expenses were divided as follows: For miantenance of way aud struccure, $1,661,000; for maiutenance of equipmeut. $1,641,000; 'or conducting transportatioa, $5,764,000; geueral expeuses, $1,244,000. Besides these operating expenses, tlje other expenses of the road weie as followa : Interest on funded debt, $1,067,800; reuts paid tor lease of roads, $1,671,777; taxes, 343,875. This brings the total expenses np to $13,395.612. The road paid its stockbolders a dividend of five aud a half per cent. whlch .unountod to $1,030,601. The cost of the road and equipment is placed at $31,110,257. The capital stook of the road amonnts to $18,730,204 aud ihe fuuded debt amonnts to $18,37G,OOO, iucluding $8,376,000 on the Detroit and Bay City, Grand River Valley, Kalamazoo aud South Haven and Michigan Air Line. The Aun Arbor road at the date of the report was in the bands of areceiver and the figures as to stock, etc., are those of the old company and not of the compaay which at present owns the road. The road owned 298.8 miles and operated 302. 73. lts stock was $6, 500, - 000, and its debt $8,393,413. The revenues for the year were: Passenger?!, $236,167; mail, $38,602; express, $18,000; freight, $688,443, making the total earnings $1,029,624. The passenger earnings pur niiie were.77S05, or abont flfty cents a mile less than the Michigan Centrul. The fieight earn iugs per ton per rüile were 86 cents, or a fifch nf a cent mure thau the Central. The operatiug expeuses of the road were $864,625, divided as follows: Maiutenance of way and strnctures, $255,000 ; maiuteuauce of eqnipmeut, $149,000; conducting transportation, $372,000; general, $88,000. Besides these there was $385,995 interest on bonded indebtedness; $5,963 interest on floating indebtedness; and $24,081 taxes, bringing the total expenses up to $1,260,613. It is needless to say hat the receipts not sniïicing to pay interest, there was no dividend dVclared. The cost of the road was $12,474,409, and of the eqnipment, $1,998,803. These figures are well worth pondering over.