Michigan Railroads

Tüc tittli annual report ol tne jommissionev of Riilroads for Michigan has jf.st beeti isStted, nít3 is fttll o iptorosting facis, Uñé n't a fttf stiggeations. The followiug vcry brieíiy gi-V'e'Sii fintfp'ÍS 01 the repoit, whioll is a very lengtñy ono : In regard to railroad freights, tbe 3ommissioner aays that., from tlio active otöpëtröoö between cotïipetitive lines, hé fröirfhfö lrnVe líeeíi mo fecliiced tlint, b'f fhe preéeüèj the interftoÉElfOT f Mie" aw-rnafciiig jtifWexilM beeft uflriecessary, fl ordet fo give the peopíc íí-r tateá. ÍÜ tó the nrÜouöt of business dön'è, the report says that the roturüfí fróïtf the rnilroad companies show a dedlded improvement over any previous year and on the busineSÍS ff hi previous year. As to Uie number of tiiii rnilnwlg, there are now doiug business in Michigan tlürty-six corporatious. Four of these roads are in the hands of receivers; siá leased; tl (fee with only a nominal existence. Ihëre ÍS ctne He catptirai ion - the Glencoe, Iinconning aüd Imke Shore - hicli has cotíimenced dding business during tlie ea, tnd -whieh has reported to the office for the iifot time. On railxoad mileage and constructioü the report says that the thirty-six corporatious own a total of 5,252.35 miles of road, and opérate a total of 5,690.28 miles - a net gain over the preceding year of 25.30 miles. Of tiiis total there uro in this State 3,360.67 miles of operated road, to wbich must be added that of the Chicago and Northwestern, from Lansing to Flint, 50 miles, which was completed in the closing days of 1876, and which, with the above total, gives 3,410.67 miles of completed road in Michigan. A table, giving the itemized increase for the year in this State, shows that the Lake Shore and Michigan Southern railroad has had an increase of only .09 of a mile, the total increase being only 18.46 miles. The roads show a decrease from remeasurement of four miles, making the net increase for Michigan only 14.46 miles, which, adding 50 miles for the Chicagc and Northwestern, makes a tota] net increase of 64.46 miles for the jrear 1876. The report further shows that in 1838 there were only 63 miles of road in the State; increasetl in 1848 to 326; in 1858 to 703; in 1868 to 1,124; intheneit four years (1872) to 2,822, and in the last four years (1876) to 3,410. The year of greatest activity in railroad building appears to have been 1871, during which 559 miles of road were completed. Only two of the roads, however, report any doublé track, namely, the Michigan Central and the Lake tihore and Michigan Southern railroads, which have together 3C8.15 miles. Of siding there are 1,192.07 miles - a gain for the year of 16.88 miles. There were 1,820.11 linies of road laid with steel - an iucrease over the previous year of 346.02 miles. Of the capital stock and debts, the re1 port says that thé total paid-up capital iuvested in Michigan roads, amounts to $142,033,233.44, or an average of $27,041.84 ; an increase, in the aggregate, o $93,965.80, or 66-100 of. 1 per cent. over the previous year. The funded debt is reported at SÍ5C,594,090.64, and the uu funded debt at $13,952,028.12, making a 1 total of debt ]iability of $164,546,118.76 oran average per mtle of $31,227.90 These totals show an increase o $1,158,507 24 for funded debt, and ' $1,059,778.60 for the uufunded debt, or a total increase of 1.92 per cent. The ararecrate of stock and debt amounts to $306,579,352.50, or au average of 858, 369.74 per miio, or an increuse of $4, 051,251.64, or 1.33 per cent. over the previous year. The cost of roads anc cquipments amoimts to 5287,022,838.27, an iuorease of 82,008,207.51, or 72-100 of 1 per cent. over the previous year this total cost being equal to $54,835. 4i per mile owned ; of which there is iu vested in Michigan $160,321,132.12, an iucreaso ior the year of 85,788,406.40. As to the earnings of the road, the report shows that the. total earnings for ! the year were $40,383,219.88, a decrease oí 702,000.66 from the previous year Tbo proportion of tho above grand tota to bc credited to Michigan is $17,704, 006.92, the earnings per mile of road be 1 ing $7,094.39. Of these the passenger earnings wero 27.9 per cent. of the 1 whole ; the freight carnings, 67.8 per cent. ; i'roia muil service, 2.3 per cent. ; aud froui other sources, 2.7 per cent The ineftne iu addition to earnings amounted to $241,789.95, tlie total in come for the year being $40,625,009.83 or $660,416.18 less than for tho year preeediug. The total ainount ex pended fol the operation of the roads being $26,885.103.25; the average expense of operation per mile being $4, ; 687.88; a sum less by $2,700,517.90 than that of tho previuns year. Not withstanding tliis large reduction, how ever, the i"oads have not been abïe to ai rive at a paying standard, five roads hav iug been unable to m;ike their earnings eq'ual the expenses of operation. Onl; four eompames report dividends, namo ly, the Chicago and Nortkwettem ruil ruad, the Lake Bhore and Michigan Southern raihoad, tlio M. A. L. R. R. and the Mineral Range railroad; the to talamountof dividends paid being $2, 212,588.3-1, of which the Chicago and Northwestern railroad (iu Michigan paid $538,111.56, the Lake Kliore anc MiobigaB Koutnern $161,011.25, and the Michigan Air Line $7, 890. 53. Of tho traffie, the report snys tha 10,538,718 pnssengers weTd carried; : (fecrense of 117,509 from the preceding year: nmount of freight carried 16,474,721 tons, plus that carried by two roads not reported. Tlis avernge rato receivec pêï ton lier mile for the year's business was but 1.15 cents, or excluding the mileage and freight earüings of the Chicago and Northwestern ruilway, whioh has but 170 miles in Michigan, the average rate received was but 9.82 milis per ton per mile, out of the 1,500 miles which tho State operates, while in Connecticut the avejage rece.iy{4 is 6.5 cents. The following-named companies have flled theil nrticles of assixïiation in tlie oíHco oí the Seoretary of State, siuco the lat(v of tho last report: . Orgauization - Alpena and Bouthwestern Bailway Company ; capital stock, $1,050,000;' line of road, from Alpena to some point on tho J., L. & S. R. R. ; nrticles of associntiou flled Jan. 31, 1877. St. Joseph Couuty División of the Toledo and South Haven Kailroad Company ; capital stook, 830,000 ; line of road from Ontcrville to some point on the G. R. & I. R. R. ; articles of association flled April 30, 1877. Saginaw and Clare County Railway Company; capital stock, $60,000.00; line of road from some point on the Flint and Pere Marquette railway, between Clare andFarwell.toLnke George articles of association filed Sept. 4, 1877. Reorganization - Detroit, Lansing and Northern. The Detroit, Lansiug and Lake Michigan Railroad haviug been s hi on a mortgage foreclosure, the puribasers organized under the above name. Aïtides of rcorgauizatiou flled Dec. 27, 1876.