Mileage of roads not reporting earnings, etc, consisting chiefly of new roads not yet brought into full operation, 7,855.28 miles. In 1889 the greater portion of the new mileage was built in the last six months of the year, and consequently had not been brought into operation until the year 1890. Miles operated, 152,689.04. Passenger train mileage Miles. 279,620,145 430,719,737 13,432,260 723,772,142 495,124,767 11,965,726,015 619,137,237 68,604,012,396 $259,640,807 666,530,653 66,865,396 *Other receipts, including rentals, received by lessor companies... Total available revenue.... Payments from available revenue Interest on bonds Other interest. Dividends *Rentals Miscellaneous $ 30,526,520 Total.... Balance, excess of available revenue over actual payments therefrom for the year... * In all cases where the operation of leased railroads are separately reported, the lessors' income accounts have been omitted, a duplication of amounts under these heads being therefore avoided. For the above statistics we are indebted to Poor's Manual of Railroads for 1890. REPORTS OF COMPANIES. Reports have been received from six companies, as follows: Chicago & Northwestern, Chicago, Milwaukee & St. Paul, St. Paul, Minneapolis & Manitoba, Minneapolis, St. Paul & Sault Ste Marie. We would call attention to the fact that on January 31, 1890, all the roads controlled by the St. Paul, Minneapolis & Manitoba Railway Co., which included the main line, branches and spurs of that road represented by capital stock, together with the Willmar & Sioux Falls railway and the Duluth, Watertown & Pacific railway, whose entire capital stock was owned by the St. Paul, Minneapolis & Manitoba railway, and the Montana Central railway, which was operated under a lease, were leased to the Great Northern Railway company to be operated for a specified sum, for the term of 999 years, and that the following properties and securieties were transferred to the the Great Northern Railway company by the St. Paul, Minneapolis & Manitoba Railway company as subscription to capital stock, the same being made for the benefit of the St. P. M. & M, railway stockholders. St. P., M. & M. railway consolidated mortgage bonds These securities being represented upon the books at $19,250000. Interest on funded debt of the leased roads assumed by the Great Northern Railway company. In the following compiled tables the St. Paul, Minneapolis & Manitoba Railway company reports business covering seven months, from July 1st, 1889, to January 31, 1890 and the Great Northern Railway company reports for five months from February 1, 1890, to June 30, 1890, the end of the fiscal year. To avoid duplication of the mileage, stock, funded debt and debt per mile of these two reporting companies are given as that of the Great Northern Railway company. The gross earnings of the Northern Pacific Railroad company, as given in the table, is only for rail lines, and does not include $126,648.29 earnings of Coeur d'Alene lake and river water transportation. The total mileage reported by the Minneapolis, St. Paul & Sault Ste. Marie does not include 160 miles of line in North Dakota graded but not yet completed for operation. The capital stock of the company, however, covers this uncompleted road. FREE TRANSPORTATION OF FREIGHT. The subject of free transportation of freight to destitute parties of our State is a difficult problem. The several railroad companies have done a large amount of free business, and, while we commend their generosity, we recommend that this business be based strictly on actual necessity. It is demoralizing in its effects and interferes with the establishment of permanent cheap rates, which would be of far greater benefit to the State than so large a free business. The total mileage operated of the several railroads reporting, whose lines are partly within the State, is as follows: Name of Railroad. Northern Pacific Railroad company. Chicago & Northwestern Railroad company. Chicago, Milwaukee & St. Paul Railroad company Great Northern Railroad company. Minneapolis, St. Paul & Sault Ste. Marie Railroad company Total mileage operated by roads reporting The mileage of the railroads in operation within the State is divided among the several roads as follows: Name of Railroad. Northern Pacific Railroad company. Chicago & Northwestern Railroad company Chicago, Milwaukee & St. Paul Railroad company Great Northern Railroad company. Minneapolis, St. Paul & Sault Ste. Marie Railroad company Total mileage in the State.. Miles. 855.20 14.28 118.21 997.92 99.13 2,084.74 The capital stock of the several corporations is reported as follows: The funded indebtedness of the several railroads in operation in this State for the year ending June 30, 1890, was as follows: Name of Railroad. Northern Pacific Railroad company Chicago & Northwestern Railroad company Chicago, Milwaukee & St. Paul Railroad company Great Northern Railroad company-No funded debt, but has as sumed interest on debt of St. Paul, Minneapolis & Manitoba Railway company on Minneapolis, St. Paul & Sault Ste. Marie Railroad company. Amount. $109,219,778 72 104,985,500 00 125,693,000 00 52,785,000 00 19,601,021 40 The stock of each company operating railways in the State per mile of road operated is as follows: Name of Railroad. Northern Pacific Railroad company. Chicago & Northwestern Railroad company. Chicago, Milwaukee & St. Paul Railroad company Great Northern Railroad company Minneapolis, St. Paul & Sault Ste. Marie Railroad company. The funded debt of each company operating railways in the Name of Railroad. Funded Debt per Mile. State per mile of road in operation is as follows: Northern Pacific Railroad company *Chicago & Northwestern Railroad company. $34,576 45 24,700 26 Chicago, Milwaukee & St. Paul Railroad company. 22,219 69 Great Northern Railroad company-Interest assumed on debt of St. Paul, Minneapolis & Manitoba 19,023 89 Minneapolis, St. Paul & Sault Ste. Marie Railroad company 26,765 38 The total stock and funded debt of each company operating railways in the State per mile of road operated is as follows: The grand total cost of construction, equipment and permanent improvements of each company operating railways in the State is as follows, reported to June 30, 1890: *This apportionment of debt per mile does not include a total floating indebtedness of the Chicago & Northwestern Railroad company of $2,775,088.23. Chicago & Northwestern Railroad company. Chicago, Milwaukee & St. Paul Railroad company Great Northern Railroad company Cost to St. Paul, Minneapolis & Manitoha Railroad company. Amount. $180 484,350 05 155,328,489 99 185,631,301 37 78,555,469 49 34,235,145 42 The number of passengers carried by each company on the entire line for the year ending June 30, 1890, was as follows: Name of Railroad. Northern Pacific Railroad company. Chicago & Northwestern Railroad company Number. 2,214,704 12,213,627 Chicago, Milwaukee & St. Paul Railroad company. *St. Paul, Minneapolis & Manitoba Railroad company +Great Northern Railroad company.. 7.505,946 I,429,444 796,605 Minneapolis, St. Paul & Sault St. Marie Railroad company. 222.506 The amount of passenger earnings by each company for the entire line for the year ending June 30, 1890, is as follows: Name of Railroad. Amount. Northern Pacific Railroad company. Chicago & Northwestern Railroad company. Chicago, Milwaukee & St. Paul Railroad company. *St. Paul, Minneapolis & Manitoba Railroad company †Great Northern Railroad company Minneapolis, St. Paul & Sault Ste. Marie Railroad company The number of tons of freight carried by each company for the entire line for the year ending June 30, 1890, is as follows: Name of Railroad. Northern Pacific Railroad company. Chicago & Northwestern Railroad company. Chicago, Milwaukee & St. Paul Railroad company *St. Paul, Minneapolis & Manitoba Railroad company +Great Northern Railroad company Minneapolis, St. Paul & Sault Ste. Marie Railroad company. The amount of freight earnings by each company for the entire line for the year ending June 30, 1890, is as follows: Name of Railroad. Northern Pacific Railroad company Chicago & Northwestern Railroad company. Chicago, Milwaukee & St. Paul Railroad company. *St. Paul, Minneapolis & Manitoba Railroad company +Great Northern.. Minneapolis, St. Paul & Sault Ste. Marie Railroad company. Amount. $15,355,112 53 19,864,151 89 18,337.009 51 4,538,691 10 2,533,096 61 1,475,264 63 The amount of gross earnings from operations by each com pany for the entire line for the year ending June 30, 1890, is as follows: *For seven months. +For five months. |