. American railways as investments : a detailed and comparative analysis of all the leading railways, from the investor's point of view . 2 7,855 59,135,086 7,528 1902-3 7,965 62,350,397 7,828 1903-4 8,180 68,171,200 8,333 1904-5 8,305 68,375,837 8,233 1905-6 8,433 78,044,347 9,253 This handsome increase in earnings did not result from anyadvance in freight rates, as has been the case with the Pennsylvaniaand other eastern roads, but was in the face of a distinct though novery considerable decline. The average rates per ton mile receivedby the Atchison have been: Year. Cents. 1892 1896 1.


. American railways as investments : a detailed and comparative analysis of all the leading railways, from the investor's point of view . 2 7,855 59,135,086 7,528 1902-3 7,965 62,350,397 7,828 1903-4 8,180 68,171,200 8,333 1904-5 8,305 68,375,837 8,233 1905-6 8,433 78,044,347 9,253 This handsome increase in earnings did not result from anyadvance in freight rates, as has been the case with the Pennsylvaniaand other eastern roads, but was in the face of a distinct though novery considerable decline. The average rates per ton mile receivedby the Atchison have been: Year. Cents. 1892 1896 1900 97 1906 93 As the Atchisons territory steadily develops in railroads, theserates may be expected to decline still further, but it is obvious thatthey are not now very high, for the west, and that the natural gainin business ought more than counterbalance any possible reduc-tions in rates that would be required. Maintenance. From the following table it will be seen that the total appropri-ations per mile for maintenance have increased in six years 70%,while the traffic density in the same, period has increased onlyabout 40%.. Extra main track, 309 miles. 76 ATCHISON, TOPEKA & SANTA FE RAILWAY Traffic Density Maintenance per mile Total Way Equipment Nor. Pacific- 729,102 $1,300 $ 791 $2,091 Sou. Pacific. 594,898 1,446 1,246 2,692 Union Pacific 739,206 1,173 1,049 2,222 Rock Island. 462,106 1,022 759 1,781 580,024 1,104 1,032 2,136 It will be seen from the above comparisons that the amountsexpended by the Atchison per year compare very favorably with theSouthern Pacific and the Union Pacific, the former of which es-pecially has been heavily charged for improvements in its operatingexpenses. That the Atchisons charges are high is evidenced in the itemsfor maintenance of equipment. These amounted in 1906 to $3,101per locomotive, $888 per passenger car, and $103 per freight are very high figures, and can only mean that large additionswere made to the r


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