Susquehanna and Tide-water, 13 m. in Md. Columbia, Havre de Grace, Md.. 45.00 Wisconisco... Beaver and Erie. French Creek Feeder.... Clark's Ferry, Millersburg. 13.00 . Beaver, Erie City... 136.00 .Meadville, Evansburg.. 21.00 Penn. and Ohio Cross Cut, 68 m. in Ohio.. Newcastle, Akron, Ohio..... Monongahela Navigation.... Bald Eagle and Spring Creek Navigation. Bellefonte, Lockhaven.. 78.00 25.00 Conestoga Navigation.... Youghiogeny Navigation. .Lancaster, Safe Harbor.. 18.00 18.00 1,349.00 DELAWARE. Chesapeake and Delaware, 4 m. in Md.... Delaware City, Chesapeake City 13.50 13.50 MARYLAND. Chesapeake and Ohio, 3 m. in D. of C......Georget'n, D. C., Cumberland... CANALS VERSUS RAILROADS-FREIGHTS. The following table, says the Buffalo Courier, shows the amount of toll paid on a barrel of flour, bushel of wheat, and 100 lbs. of other produce and merchandise, passing through the entire length of the canal, under the tariff of tolls in 1857 and 1858, together with the reduction of tolls in 1858 : In 1857 the average of cargoes of boats going to tide-water was about 125 tons, and the up cargo from 35 to 45 tons. The average cost of running a boat round was in 1857 about $400. The cargoes this spring will range, each, from 160 to 175 tons down, and the up from 80 to 95 tons. The only additional cost this season in transporting to tide-water the increased tonnage, is in handling the property at either end of the route; for it requires no more hands to manage, or horses to tow, a 175-ton boat than it does a 125-ton boat. The increased capacity of the canal this year is, therefore, fully equal to $100 over toll, on a round trip, in the cost of running a boat, as compared with last year. The Western Transportation Company are now consigning goods and merchandise from New York to Chicago for 40 cents per 100 lbs., or $8 a ton; while the railroads from New York to Buffalo, and by steam on the Lakes, charge on the same description of goods, which they divide into three classes, 55 cents, 70 cents, and 80 cents per 100 lbs. The canal is now bringing goods to this city in nine days, and delivering them into Chicago in thirteen and fourteen days from New York. The result is, that while the railroads have formerly carried two-thirds of this description of goods, the canal has now over two-thirds, and the railroads scarcely one-third. The returns show an aggregate slight diminution in general business for the month. MASSACHUSETTS RAILROADS. The American Railway Times contains some comparative details of the operation of the Massachusetts railroads that are of interest. The railway system is in its infancy, and if it cannot be called a financial failure, is evidently not a success. The collateral benefits of railways are immense. If they had all been built by the community at large for the general benefit, the success would undoubtedly have outweighed many times the cost, but while the public have been thus benefited the individual enterprises are not successful. Their re ceipts do not cover wear and tear and expenses. It is only by the application of the largest experience to the management that remedies can be applied, and this experience can be generalized only by the collection of all the details of management hitherto. These details have been best furnished by Massachusetts, and some of the results are as follows: There have been eight years of connected reports in Massachusetts, from 1849 to 1857, inclusive. The results are remarkably uniform, and we give those of the first and last year, as showing all the changes which have occurred :— This table affords room for some deductions of interest. The increase of gross receipts is 56 per cent. The increase of gross expenses is 90 per cent, but the increase of net income for the benefit of shareholders is about 31 per cent, or $930,000. The railroads of Massachusetts are probably managed with more scrutiny into expenses than elsewhere. It appears that the total expenses are 58 per cent of the whole receipts. In 1849 they were but 50 per cent. This is a confirmation of the opinion that the economy of the roads is for some reason less. At least, such is the obvious bearing of the figures. Another general fact of interest is the relation of the roads and their business to the surface and population of the State. These relations may be thus expressed : Comparing this with the railroads of Ohio, we find that, in proportion to surface, the roads of Massachusetts are to those of Ohio, as 14 to 6; and in proportion to population, just about the same. The deduction from these facts is just what we should infer naturally would be the case, viz., that the capacity of a State or country to sustain railroads, is in proportion to its people and no! its surface. It is the people who furnish the freight as well as the passengers; and, hence, it may be stated as a general truth, that if one million of people would afford sufficient income to a given number of miles of railroads, two millions will support double as many. Nor do we see any definite limit to this principle. Another general deduction from these facts is, that at the ratio of 800 persons to a mile of railroad, the roads will pay over six per cent per annum, and be perfectly secure. Although this is not a speculative interest, yet it may be regarded as enough for safe stocks. The distribution of net income is, of course, by no means even. One short road pays 13 per cent,; three pay 8 per cent,; six pay 7 per cent, and three pay six. The residue pay smaller rates, and several only two or three per cent. These differences will always occur, according to the more or less favorable localities, and good or bad management. |
