Earnings per Mile.

As applied to the different roads and compared with the previous year, mileage earnings were:

These figures show a very favorable increase in the gross earnings per mile; and as the gross earnings per mile for the calendar year form the basis upon which the annual license fee of the companies is computed, it is interesting to note that every road passing through the state, thus forming a line for through traffic from the west rises high in the first class of roads. The Wisconsin Central and Wisconsin & Minnesota have passed from the second to the first class. During the year the Milwaukee, Lake Shore & Western comes within $36 per mile of reaching the first class, showing an increase of 43 per cent. per mile. The earnings of the last six months of the calendar year will undoubtedly place this company among our first class roads for purposes of taxation. The Green Bay, Winona & St. Paul remains in the second class, and the Fond du Lac, Amboy & Peoria, coming last in the list of earnings, has passed from the third to the second class of roads, leaving no road of those reporting June 30th in the lowest grade, and all showing encouraging increase.

The total operating expenses per mile of road in the state, averaged $3,088.24; leaving net average earnings per mile $2,536.95. The earnings per train mile run averaged for passenger trains $1.29 and for freight trains $1.95 in this state, and on whole line $1.27 and $1.87 respectively.

Freight Traffic.

FREIGHT TRAFFIC.

5,499,321 tons of freight have been carried in the state during the year, equal to 813,414,402 tons carried one mile, at an average charge of a little more than one cent and 6 mills per ton per mile. On the whole line there were moved during the same period 15,866,701 tons, or 2,314,326,762 tons one mile, at an average cost of little over one cent and five mills per ton per mile. The average rate per ton per mile charged on the following lines for several years past has been as follows:

Capital Stock and Debt.

While the three through lines in the state show a steady decrease in charges with but slight fluctuation, the purely local lines have maintained their original charges and all but the last named even show an advance in their rates over some previous years. The rates per ton per mile during the last year in Wisconsin have averaged, on the Chicago, Milwaukee & St. Paul, 1-5 cents; Chicago & Northwestern, 1-3 cents, and Chicago, St. Paul, Minneapolis & Omaha, 1-41 cents

38. 100

68 100

PASSENGER TRAFFIC.

Three million, six hundred and eleven thousand, nine hundred and seventy-three passengers have been carried on Wisconsin railroads during the year, an average distance of little less than fortyfive miles each. The average rate per mile per passenger for several years past is shown in the following table for the whole lines in cents.

The total mileage of all trains in Wisconsin during the year is 14,443,635 miles, as to 12,433,577 the previous year; an increase of 2,010,058 miles.

CAPITAL STOCK AND DEBT.

Capital stock issued by Wisconsin railroad corporations aggregates $68,997,030.83 for this state. Last year the proportion for Wisconsin was reported as being $78,570,880.44, or $9,573,849.61 more than the present year. The amount of stock per mile of road averages in Wisconsin $20,368.60, and on whole line $17,035.28. The total of bonded indebtedness is reported for Wisconsin at

1 In Wisconsin.

Interest.

$70,603,029.36, and on whole line at $190,570,675.00, as to $64,958,022.61 for Wisconsin and $168,325,035.00 for whole line in 1881. The unfunded debt is reported for Wisconsin at $2,802,559.85, and for whole line $7,361,601.30, making the total of capital stock and debt in Wisconsin $142,402,620.04, or $1,399,106.19 more than total cost of road reported. The total debt averages in Wisconsin $21,516.03 per mile, and total of stock and debt $41,884.66, or $2,878 more than the average cost per mile of road. The floating indebtedness, $821.64 per mile, partially accounts for the difference, but leaving an indebtedness on each mile of road, in stocks and bonds, of $2,056.54 more than the value of the property securing it.

INTEREST.

The following companies report interest accrued and interest paid as follows: