Democratic Sentinel, Volume 18, Number 34, Rensselaer, Jasper County, 7 September 1894 — RAILWAY BUILDING FALLING OFF [ARTICLE]

RAILWAY BUILDING FALLING OFF

The Boom Days of Railroad Construction and Extension Seem to Be Over. In a general way Jhe facts pertaining to the financial standing of railways are known. Accepting railway construction as an indication of the condition of the railway Industry, the period through which we are now \ssing shows greater depression than

a!>y pre vices period, says the Review of Reviews. The increase in new mileage brought into operation daring the fiscal year 1892 was less than during any year since 1880, while the percentage increase stood lower than for any previous year since the beginning of railways in this country. Thus the rate of increase from 18«6 to 1887 was 9.08 per cent.; from 1887 to 1888, 6.05 per cent.; from 1888 to 1889, 3.82 per cent.; from 1889 to 1890, 4.78 per cent; from 1890 to 1891, 2.94 per cent; from 1891 to 1892, 1.188 per cent; and from 1892 to 1893, 2.80 per cent. These figures show a remarkable depression in the business of railway construction. Another fact emphasized bv railway writers is the large amount of mileage placed in the hands of receivers during the last eighteen months. Thus 43,000 miles of line have been under the protection of the courts, an amount equal to 24 per cent of the total length of line.