. Electric railway journal . e not difficult to explain. In the first placetrack built for dense traffic is generally, and should be,of heavier and more expensive construction. The elec-tric line for distributing the power along the trackmust be of greater current carrying capacity and con-sequently requires more copper. These railways withdense traffic are almost always in the large cities andtowns where expensive paving is required which is notnecessary in rural districts. Fully as important is thefact that the denser traffic requires more cars and powerplant equipment for each mile of track
. Electric railway journal . e not difficult to explain. In the first placetrack built for dense traffic is generally, and should be,of heavier and more expensive construction. The elec-tric line for distributing the power along the trackmust be of greater current carrying capacity and con-sequently requires more copper. These railways withdense traffic are almost always in the large cities andtowns where expensive paving is required which is notnecessary in rural districts. Fully as important is thefact that the denser traffic requires more cars and powerplant equipment for each mile of track operated. Cost of Road and Track Construction. Including: Road & Track; Materials & LaborPaving Bridges. Trestles and CulvertsElectric Line, Poles, Wires,Conduits, etc. O: -1 r- rr> l „ i _ • • • OlfcJIlUl a Engincc a uiutmuuu oysbeins ring & Superintendence, Taxes, etc., duringtruction. Interest Cons • \ • \* ■.\ \» P • *« • • Revenue Passengers per Mile ot Single .Main Track per Revenue Passengers per Mile of Single Main Track per Annum. FIG. 2—RELATION BETWEEN COST OF ROAD AND TRACK CONSTRUCTION AND DENSITY OF TRAFFIC. FIG. 4—RELATION BETWEEN TOTAL INVESTMENT PER MILE AND REVENUE PASSENGERS PER MILE 60 ELECTRIC RAILWAY JOURNAL [Vol. XLVIII, No. 2 It is not to be supposed that these general statisticscan be used to make any definite or final decision as towhether a given companys capitalization represents afair investment value or not. Obviously there can beno absolute statistical standard for determining in-vestment or fair value. If in any given case the unit capitalization falls abovethe average curve it is by no means a proof of over-capitalization. All the conditions and local circum-stances as well as the past history of the up-buildingof the system must be given due consideration. Indeed,the mere fact of the data falling exactly upon the aver-age curve is not in itself a demonstration that a com-pany is not over-capitalized for the
Size: 1939px × 1289px
Photo credit: © Reading Room 2020 / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookdecade1900, bookpublishernewyorkmcgrawhillp
