PASSENGERS.

As shown in the foregoing statement the number of passengers injured on the steam roads within this state during the year covered by this report has been 54, being 21 more than for the previous year, four of whom were fatally injured, three more than last year. Two of these were injured on the New London Northern Railroad and four were killed and forty-eight injured on the N. Y., N. H. & H. Railroad. One passenger was killed and 21 injured in a collision at Sandy Hook on October 9, 1902. Two passengers were killed and six injured in a collision at South Norwalk on May 2, 1903. Nine passengers were also injured in a collision at Waterbury on March 31, One passenger was killed in jumping from a moving train at Pomperaug Valley Station.

1903.

EMPLOYEES.

The number of employees injured has been 181, 61 less than the number reported last year. Of this number 44 were fatally injured, nine more than for the previous year. Fortyeight were injured in falling from trains or engines, 21 in coupling or uncoupling engines or cars, 10 from overhead obstructions, and 102 from other causes not named.

The casualties and loss of property resulting from the collision of trains have been large, in common with the experience of the whole country, the most important of these occurring at Sandy Hook on the Highland division, at Waterbury on the Naugatuck division, and at South Norwalk on the New York division, the first two resulting from disobedience of orders and the last from a disregard of block signals.

The Inter-State Commerce Commission, in view of the appalling loss of life and property from this cause, have, in their report just issued, recommended the passage of a law requiring the adoption and use of the block system (unless some better device can be secured) similar to a law in force in Great Britain and Ireland. The proposed bill provides that each railroad company be required to adopt a block system on onefourth of its passenger lines by Jan. 1, 1906, on another fourth

by Jan. 1, 1907, another fourth one year later, and on the whole by Jan. 1, 1909. The conditions of the railway system of Great Britain and Ireland are vastly different from those which exist in this country. There the limited extent of territory to be served, the density of population, the shortness of the subsidiary lines, all of which are busy and profitable, present a condition in marked contrast with the American railway systems, many of which comprise thousands of miles of local roads extending through rural districts sparsely settled, and which barely pay the cost of operation. To require this class of roads to install and maintain a block signal system would seem to be unwise and impracticable, while such safeguards should be provided on all important and busy lines over which a large amount of indiscriminate traffic passes. It would seem, therefore, that some discretion should be used in the enforcement and application of such a law, and that it should not be made universally applicable to all roads irrespectively. The work of the Inter-State Commerce Commission in securing the adoption of various safety appliances in the operation of railroads, such as automatic couplers, train brakes, and grab-irons on freight cars, etc., has been important, and could only have been accomplished by a national commission endowed with national authority.

TRESPASSERS.

The injuries resulting from trespassing upon the tracks have been 139 compared with 126 for the previous year, of whom 87 were killed, six more than the number reported last year.

INJURED AT HIGHWAY CROSSINGS.

The number injured at grade crossings of highways has been 23, one less than last year, nine of whom were killed, five less than for the previous year. The total number of grade crossings in the state is 984, three more than last year. Two on the Northampton division, heretofore disputed, have been decided by the Superior Court to be public crossings, and one more

is reported in New Britain. No grade crossings have been eliminated during the year, although a number are in process of elimination, but were not completed on June 30, 1903. The number of highway crossings under the tracks is reported as 273, and the number passing overhead 225. The number protected by gates is 113, with flagmen 36, and with signal bells, 31.

FINANCIAL STATEMENT OF THE CONDITION AND OPERATIONS OF THE STEAM RAILROADS FOR THE YEAR ENDING JUNE 30, 1903.

CAPITAL STOCK.

The total capital stock issued by the companies reporting to us on the date named above was $119,658,468.38, an increase of $16,311,900.00 over the amount reported last year, consisting of the stock of the East Granby & Suffield Railroad Company amounting to $100,000.00, and an increase in that of the N. Y., N. H. & H. Railroad Company amounting to $16,211,900.00. The capital stock issued per mile of road is $78,062.23. The amount held in the State of Connecticut is $53,739,900.00, compared with $48,699,000.00 as per last report. Number of stockholders in Connecticut 4,482, as compared with 4,148 reported last year.

FUNDED DEBT.

The total funded debt of the companies is $37,643,000.00, compared with $39,144,000.00 for the previous year. The funded debt of the Naugatuck Railroad has been increased $274,000.00 and that of the N. Y., N. H. & H. Railroad reduced $1,775,000.00. The funded debt per mile of road is $24.557.35.

The current liabilities of the companies amounts to $7,915,548.86, being $1,277,954.56 more than for the preceding year. The liabilities of the Boston & New York Air line have been increased $10,444.95, the Hartford & Connecticut Western $30,692.46, the Naugatuck Railroad $332,660.75, the N. Y.,

N. H. & H. Railroad $931,772.64, the Norwich & Worcester $579.00, and the South Manchester $730.37, while the liabilities of the Central New England have been diminished $23,250.03, the New England $70.00, the New London Northern $5,071.58, and the New Haven & Northampton $534.00, making the net increase as stated above, $1,277,954.56.

GROSS EARNINGS.

The total gross earnings of the year have been $48,988,685.72, compared with $45,125,648.70 for the previous year, showing an increase of about 8 per cent., amounting to $3,863,037.02. The passenger earnings were $23,489,094.18 and the freight earnings $25,051,029.01, the balance, to wit, $448,562.53, being the revenue from other sources. The gross earnings per mile operated were $20,748.42, and per mile run $2.02292.

OPERATING EXPENSES.

The operating expenses for the year were $36,470,434.03, an increase of $3,842,930.68 over that of the previous year, and constituting 74.45 per cent. of the gross earnings. This large increase in operating expenses is principally due to the increased cost of fuel, wages, and change in demurrage charge methods.

NET EARNINGS.

The net earnings have been $12,518,402.96, being $20,257.61 more than for the preceding year, and were $5,301.98 per mile operated and $.51697 per mile run.

TAXES.

The amount paid for taxes was $2,455,604.57, which is $24,921.55 less than the amount paid the previous year. The amount paid to the State of Connecticut was $1,032,173.36. The entire amount paid on this account was about five per cent. of the gross earnings.

DIVIDENDS.

Dividends amounting to $5,637,112.00 have been paid on capital stock amounting to $89,399,300.00, and no dividends paid on $30,259,168.38 of capital stock. For a detailed statement of dividends paid and the amount of stock upon which they were and were not paid, see table No. 7, page 83.

PASSENGERS CARRIED AND PASSENGER REVENUE.

The number of passengers carried during the year was 64,918,472 as compared with 60,045,221 for the previous year, showing an increase of 4,873,251 or about 8 per cent. more than the number carried last year. The average length of each passenger trip was 17.44 miles, being 0.09 miles more than for the previous year. The passenger revenue was $19,702,008.77 as compared with $18,275,183.82 for the previous year, being an increase of $1,426,824.95. The amount received per passenger was $0.3035 compared with $0.30436 for the previous year, the average receipts per passenger per mile $0.01739, the passenger earnings per mile of road $9,948.45 as compared with $9,296.38 for the preceding year, and the passenger earnings per train mile $1.44171 compared with $1.39112 for last

year.

FREIGHT CARRIED AND FREIGHT REVENUE.

The number of tons of freight carried was 20,034,889 compared with 18,730,512 tons for the previous year, showing an increase of 1,304,377 tons. The average haul was 85.61 miles, as compared with 81.28 miles for the previous year. The total freight revenue was $24,139,372.99 in comparison with $22,088,944.40 for last year, showing an increase of $2,050,428.59. The average amount received for each ton of freight handled was $1.20486, and the average receipts per ton per mile $0.01407. The freight earnings per mile of road were $10,609.99 compared with $9,815.14 for the previous year, and the freight earnings per train mile $3.04963.

R. R.-B