Evening Republican, Volume 17, Number 287, Rensselaer, Jasper County, 2 December 1913 — COST OF RAILROAD ACCIDENTS [ARTICLE]

COST OF RAILROAD ACCIDENTS

Run of Bad Luck Add* Enormously to the Amount Required to Mainm ' tain a Line. This week’s new low record for New Haven shares following the wreck of Tuesday has raised an interesting point as to how railroads are affected financially by Buch accidents. New York Central’s Park avenue wreck occurred on January 8, 1802. That year the company settled claims for property and personal injuries aggregating $882,000, compared with 8768,000 the year before. By the end of 1903 those settlements, however, reached 81,092,000, and the figures gradually Increased, until 82,466,000 was paid out in 1907. After that there was a gradual decline, indicating- that most of the claims were settled in one way or another within five years. Pennsylvania has a good record, despite Its occasional wreoks. Last year was an average year, with 8666,000 charged *>ff for damage to freight, 819,031 for damage to baggage, 860,654 for loss of other property, and 8173,500 for injuries to persons. For a 4,000-mile system that is an enviable record. For the same period New York Central’s expenditures, including low costs, were 82,068,000. New Haven, with only half of Pennsylvania’s mileage, charged off 81,129,000 for the fiscal year ended June 30, 1912, including 8346,00 for damage to freight, 8574,000 for injuries to persons. The forthcoming annual report for 1913 doubtless will show a heavy increase In those items, as the company has had 11 wrecks during the last year, in which 45 persons were killed and 187 injured. Loss of prestige is the most intangible of any suffered by a railroad as a result of accidents.—New York Evening Post." 1