The business of the central station has a constantly growing diversity factor. The revenue of one leading system in 1916 was derived as follows: Commercial lighting, 37 per cent; power for industrial and general pur poses, 22 per cent; residence lighting, 18 per cent; power for electric railway -use 23 per cent. The item of residence lighting reveals one of the large opportunities before the cen tral station, and includes an endless variety of apparatus and appliances, ranging from the curling iron to the electric range for cooking. In other cities than the one quoted the propor tion of commercial and domestic service would average higher, although taking the country as a whole perhaps only one house or family in every five has electric service. However, very few new houses, even in remote rural districts, are built now without electrical wiring.
Electric Railway Statist:ca.—Herewith are given the latest available official statistics for the electric street railways of the United States, in this case, as in those of electric lighting, being the Census Office figures for 1912, the next compilation not being made by the gov ernment until 1917 and not available before 1918-19. The present figures serve, however, as a safe basis from which to estimate the advance in the succeeding five years in almost every respect at an average rate of increase not in excess of 8 per cent. It is a well-known fact that, as to surface traffic, street railways have been subjected to a serious competition from the automobile *jitney?' but this element of loss has been largely reduced; while on the other hand it has stimulated the street railways to develop many types of new and better service, adding to the return on the investment and to the satis faction of the public. While the surface trac tion lines — trolley or slot-conduit — have been working out their own salvation through this strenuous period, elevated, subway and steam railroad electrification have undergone a mar velous expansion as indicated by other statis tics. The gross income of operating street railways—virtually all electric —is given for 1912 as $520,000,000. The income of all electric service, urban, interurban and main line, is esti mated for 1917 at not less than $800,000,000.
Telephony stud Telegraphy.— The general statistics of the telegraph and telephone indus tries of the country are shown both comprehen sively and comparatively in the following table. These two branches of the great modern art of the communication of intelligence are separate and distinct, yet are very closely interwoven in their physical relationships; and at various times and in various ways have been largely con ducted financially as one business. The economic reasons for such a combination are not far to seek and are recognized in the existence in most countries of a united telegraph And telephone governmental administration; whereas in the United States such a policy, under the pre vailing private ownership, has been declared illegal. American telephone and telegraph sys
tems as to apparatus used and results obtained are in general infinitely superior to anything prevailing elsewhere. A point to be noted in the accompanying table is the relatively dis proportionate magnitude of the younger art, telephony, in all respects, particularly invest ment and earnings.
depots, being placed at 30,000. The annual re port of the Western Union Telegraph Company for 1917 is a sufficient indication of revived prosperity now and in recent years. The report The extent to which the condition of the times affect electrical utilities is strikingly shown in the fact that while for the period of eight months in 1917 the American (Bell) Tele phone and Telegraph Company's earnings rose from $171,608,490 to not less than $194,337,712, the operating net income was but $47,439,392 as compared with $47,586,666. The whole gain of nearly $23,000,000 was thus negatived with $150,000 more thrown in; but the gain was there all the same, and in due time the larger interest charges due to rapid increases of capital will work out to advantage. On the basis of total operating revenues of the Bell system of $270,000,000 the year 1917 will show at 10 per cent increase an amount well in excess of $290,000,000. For telephony as a whole, includ ing the independent systems, a total of, say, $425,000,000 might be set down. The physical statistics of the Bell telephone system and its growth are strikingly shown in the accompany ing table.
As an industry the telegraph showed a remarkable recovery following the outbreak of the European War, and at the end of 1917 there were no fewer than 60,000 tele graph operators engaged at telegraph centres, local offices, brokers' offices, etc., the number of distinctively telegraph offices, including railroad showed that the company in 1917 experienced the most prosperous year in its history. The earnings available for common dividends were equal to $12.79 per share as against $12.42 in the previous year. This amount was earned on almost $100,000,000 stock. During 1917 the company paid 6 per cent dividends, compared with 51/2 per cent in 1916. The statement for 1917, with comparison, follows: – These significant figures are matched by those with regard to wireless telegraphy. .Thus, gross earnings of the Marconi Wireless Tele graph of America have nearly doubled during the period of the war, while expenses, including taxes, were less during 1917 than in 1914. The company's net income for 1917 was $609,430, and undivided profits and reserves on 31 Dec. 1917 amounted to $2,150,000. The capital stock is $10,000,000.