constructions could be fairly placed as follows, putting
electricity as 1, by taking the average of the three methods at $16,732:
Horse road, 0.53; cable, 2.09.
Unquestionably a great majority of roads of the past have not been
constructions of engineering, and of all places requiring care, skill, and
engineering, the street roads are the places.
5th. Cost of operation.
A fair figure for cost of one horse for one year is $220.
For electricity, allowing 35 per cent. loss in transmission, etc., 1.54
horsepower would be the work done by engine to get 1 horse power on
the track. There are to-day plenty of steam plants producing 1 horse
power for work at from $30 to $50 per annum. Take the average, $40.
With electricity then $65 would well represent the price of producing
1.54 horsepower.
With cable these figures would hold true, but more work is required. A
greater loss is entailed. Since but 32 per cent. is recovered, the figure
for 1 horse power on the track would be 2.86 horse power. At the above
rates this would be $110 per horse power per year.
Our ratio here is: Electricity, 1; cables, 1.71; horses, 3.38.
This is by no means the whole of the story, for just here must we
compute the depreciation and hence repairs due to time. Let us take the
road figured on heretofore, and make three tables.
In the following I have under each system taken the estimated costs,
allowed a fair per cent. for depreciation, summed up and obtained the
ratios.
Any figure then like interest, etc., which would not affect ratios, I have
omitted.
ELECTRICITY.
Conductors, 1 per cent. $160.00 Engine and dynamos, 5 per cent.
525.00 Cars, 10 per cent. 5,280.00 Roadway, 10 per cent. 2,007.00
----------- Total. $7,972.00
HORSES.
Horses and appurtenances, 20 per cent. $7,780.00 Cars, 10 per cent.
2,880.00 Roadway, etc., 10 per cent. 3,500.00 ----------- Total.
$11,740.00
CABLES.
Cable, 50 per cent. $7,500.00 Engine and boiler, etc., 5 per cent.
1,000.00 Cars, 10 per cent. 4,320.00 Roadway, 10 per cent. 3,500.00
------------ Total. $16,320.00
These totals put in ratio are as follows: Electricity, 1; cable, 2.04; and
horses, 1.47.
Placing all the ratios obtained in a table, we have the following:
Electricity. Horses. Cables. Depreciation. 1 1.47 2.04 Operating
expenses. 1 3.38 1.71 Construction of tramway. 1 0.53 2.09 Motors,
cars, etc. 1 1.63 1.21 Cars. 1 0.54 0.81 --- ---- ---- Totals. 5 7.55 7.86
Average. 1 1.51 1.57
Now this table must stand by itself for what it represents, and no more.
It will be noted that I have not introduced the subject of men. This
would unquestionably show favorably for both electricity and cable.
Again, note, please, that this table does not represent your profits
exactly as per ratios. I have to get them operated the same number of
cars and under the same headway. Now with either electricity or cable a
higher rate of speed can be maintained with but a very small
proportionate increase of cost. This means quicker time, more trips, and
greater receipts.
Evidently, as a financial investment, even if cost of maintenance and
operating is greater, the cable is to be preferred to horses.
How is it with electricity? The ratios of expenses, etc., stand for
themselves, the law of speed is far simpler than with cable, bringing
even greater receipts, and again in practice the saving of coal in
proportion to work done on track day or night is immensely more
economical than with the cable. This point will be touched upon later.
6th. Individual characteristics and advantages.
Under this head a few of the salient features of each system will be
mentioned. As the possibilities and limitations of the horse railroad
system are, however, so well known, it is needless to go over them. I
therefore will confine myself to the electric and cable systems.
With electricity single track lines, crooked streets, all descriptions of
turnouts, crossings, branches, etc., are as easy to construct and operate
as with horses. With the cable system they are either impossible or
enormously expensive.
With electricity the line is not a unit, so that the complete stoppage of
the whole line is absolutely impossible. With cable it is a unit and it is
possible.
With electricity the life of the conductor is infinite; with cable, two
years.
With electricity, and the improvements now being made in traction
wheels, etc., the heaviest grades are as easily surmounted as with the
cable; although it is true that for grades exceptional in character, such
as 20 per cent. grades or over, I should be willing to give the contract to
cable.
With electricity any speed can be attained by the individual cars. They
are absolutely independent. Lost time can be made up, etc. With cable
the
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