| From the Charleston Courier |
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| December 2, 1862 |
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| Our Rail Roads |
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| The report of Comptroller General Black,
gives a clear statement of the relations of the State to Rail Roads. The
statement, of the bonded debt, of Rail Roads endorsed by the State, is
as follows: |
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South Carolina Rail Road |
$2,000,000 |
|
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Charleston & Savannah Rail Road |
505,000 |
|
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Arrears of interest, October, 1862 |
57,075 |
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Northeastern Rail Road |
92,000 |
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Interest paid to September, 1862 |
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Laurens Rail Road |
75,000 |
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Spartanburg & Union Rail Road |
350,000 |
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Greenville & Columbia Rail Road |
500,000 |
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Interest regularly paid |
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| President Walker, of the Wilmington &
Manchester Rail Road was not able to report in time to the Comptroller,
on account of the sickness of many of his clerks at Wilmington. |
| His report has been presented and
published, and gives the following figures: |
|
Wilmington & Manchester Rail Road |
| The Abstract of Receipts will show that
the earnings for the year have been as follows, from the following
sources: |
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Through Travel |
$297,214.53 |
|
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Way Travel |
103,842.15 |
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Freight and minor sources |
225,200.54 |
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Mails |
31,051.36 |
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Total |
$657,307.58 |
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| As compared with the
same sources for the previous year, it will exhibit a gain from |
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Through Travel |
$108,086.16 |
|
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Way Travel |
45,986.87 |
|
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Freight and minor sources |
43,577.97 |
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Total |
$197,650.50 |
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| The Abstract of Expenditures shows that
the total cost of operating the Road for the year has been $230,995.91,
leaving a net revenue amounting to $426,351.67 -- being for operating
35.13 per cent. of total receipts. |
| This is a very considerable reduction in
the per centum of cost in this respect, much below what it has
heretofore cost to operate this Road, and much below what it costs to
operate rail roads generally. Fifty per centum of receipts is regarded
as an economical average cost of operating. This ratio, however, for
this year must not be considered as one that can be maintained in
ordinary times. For though the prices of all rail road supplies have
greatly increased, and we have had to pay these high prices for what we
have purchased, yet there were many things which it was desirable to
purchase and much needed, but they could not be procured. Had they been,
the proportion of operating expenses would have more nearly reached the
above indicated standard. |
| The foregoing shows an increase of gross
receipts for the past over the previous year of $183,843.73. An increase
of net receipts, under a like comparison, of $167,410.07. |
| The net earnings have been 17.14 per cent.
upon the entire cost of the road. After deducting interest paid, they
have been 15.88 per cent. Upon the Capital Stock they have been 37.27
per cent. Deducting interest paid, they have been 34.53 per cent. upon
the Capital Stock. |
| The number of Through Passengers carried
during the year has been 67,359. The number of Way Passengers has been
65,105. |
| We recur to the Comptroller's Report: |
| South Carolina Rail Road |
| Length |
242 miles |
| Capital Stock paid |
$5,819,275 |
| Total cost |
8,552,961 |
| Speed of Passenger Trains |
20 miles |
| Speed of Freight Trains |
12 miles |
| Earnings |
$1,695,792 |
| Expenses |
781,101 |
| Nett earnings |
914,691 |
| Failures in connection |
29 |
| Casualties
17 persons injured and 8 persons killed |
| Passengers -- full seats |
63,197 |
| Passengers -- half seats |
120,098 |
| Greenville & Columbia Rail Road |
| Earnings |
$368,962.89 |
| Expenses |
185,000.00 |
| Failures in connection |
6 |
| Speed of Passenger Trains, excluding stoppages |
21 miles |
| Speed of Freight Trains |
12 miles |
| Number of Passengers, reduced to full seats |
94,021 |
| Charleston & Savannah |
| Capital paid in |
$958,110 |
| Capital subscribed |
1,036,700 |
| Total cost, including interest to October, 1862 |
3,179,957.17 |
| Passenger Trains |
16 miles |
| Freight Trains |
10 miles |
| Earnings |
$401,626.32 |
| Expenses |
189,994.46 |
| Nett earnings |
211,631.86 |
| Casualties
3 killed and 1 injured |
| Northeastern Rail Road |
| Capital paid in |
$899,500 |
| Total cost |
1,920,286 |
| Passenger Trains |
16 miles |
| Freight Trains |
9 miles |
| Earnings |
$306,292 |
| Expenses |
137,000 |
| Nett earnings |
169,292 |
| No casualties for the year ending October 1st, 1862 |
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| We shall recur to the reports for other
facts. It will be profitable to examine the ration of expenses to
earnings, for the year of the war, as compared with former years. It
will be found that in some cases the rate of expense has been largely
reduced. Has the reduction proceeded from the want of needful supplies,
or a proper economy in expenses that can be constantly avoided? The
casualties reported to the Comptroller sum up eleven persons killed, and
eighteen injured. We fear the list will be enlarged in the next annual
report unless unusual precautions are enforced. |
| The following shows what has been done by
two rail roads in Virginia: |
| The report of the President of the Orange
& Alexandria Rail Road shows that the receipts of the road for the past
twelve months were $747,000, the expenses $220,000, showing an excess of
receipts over expenditures of $527,000. |
| The report of the President of the
Virginia Central Rail Road shows that the receipts of the road for the
past twelve months were $1,016,157.77, the expenses $371,809.90, showing
an excess of receipts over expenditures of $644,347.81. |
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