We may now return to the more general considerations affecting Central Pacific finance which characterized the years from 1870 to 1879. There is a good deal of evidence that the years during which Mr. Colton was connected with the Central Pacific enterprise were years of financial difficulty for the associates, due in part to general depression, in part to a disproportionate amount of new construction, and in part to the continued inability of the Huntington-Stanford group for many years to interest eastern capital in western railroads. During the years from 1869, when the Central Pacific was first opened to Ogden, to 1874, the earnings of the Central Pacific main line, both gross and net, steadily increased. The following table sets forth the facts relating to this progress, as well as figures for the succeeding years from 1875 to 1881. EARNINGS AND EXPENSES OF THE CENTRAL PACIFIC RAILROAD, 1874-81(*) Period Gross Earnings Operating Expenses Net Earnings (Calendar years) November 6 to December 31, 1869 $ 1,024,680 $ 777,348 $ 247,332 1870 7,519,983 6,009,426 1,510,557 1871 8,862,054 5,937,890 2,924,164 1872 11,963,641 8,645,276 3,318,265 1873 12,867,600 7,822,638 5,044,962 1874 13,726,561 6,468,145 7,258,416 1875 15,665,082 9,937,465 5,727,617 1876 16,994,216 10,970,599 6,023,617 1877 16,471,144 12,761,639 3,709,505 1878 17,530,859 12,005,535 5,525,324 1879 17,153,163 11,126,298 6,026,865 1880 20,508,113 12,814,121 7,693,992 1881 24,094,001 14,546,899 9,547,102 ——————————— ——————————— —————————— $184,381,097 $119,823,379 $64,557,718 ═══════════ ═══════════ ══════════ (*)Report compiled by the Commissioner of Railroads, 47th Congress, 1st Session House, Executive Documents No. 123, 1882, Serial No. 2030.