It is to be hoped that this great financial operation, which will place the Anglo-Argentine Company at the head of the most important tramway companies of the world, will not fail to benefit the public, and that the Company will also turn its attention to improving its equipment and to lowering its fares to a uniform rate.
On the other hand the number of passengers carried by
the Buenos Ayres tramways is constantly increasing, as may be seen in the following table:—
| Passengers Carried. | Gross Profits. | Total Profits. | |||
| Year. | Horse | Electric. | Horse | Electric. | |
| Traction. | Traction. | ||||
| 1901 | 95,436,421 | 30,088,803 | £848,318 | £294,822 | £1,143,140 |
| 1902 | 92,638,025 | 33,593,734 | 827,979 | 334,060 | 1,162,039 |
| 1903 | 71,048,519 | 62,670,779 | 636,801 | 596,719 | 1,233,520 |
| 1904 | 65,532,745 | 82,746,352 | 587,022 | 805,071 | 1,370,093 |
| 1905 | 34,486,547 | 174,455,022 | 489,741 | 1,049,949 | 1,539,690 |
| 1906 | 24,927,089 | 175,773,158 | 232,903 | 1,565,472 | 1,798,375 |
| 1907 | 7,338,563 | 217,702,183 | 67,659 | 1,926,054 | 1,993,793 |
| 1908 | 293,269 | 254,780,627 | 1,980 | 2,229,547 | 2,231,527 |
These figures go to confirm all we have said as to the enormous development of capital in the Argentine, and of its commercial activity.
Electric Lighting.—In the matter of illumination, Buenos Ayres was early discontented with the old methods; electricity is now preferred both for public and private purposes. Today there are 721 miles of gas pipes and 233 miles of electric cables.
The capital of the electric lighting companies is estimated at nearly £2,000,000, and their output at 30,905 horse-power. The electrical supply is chiefly in the hands of the German Electricity Company, with a capital of £1,850,000, which has already absorbed the two companies previously in existence. Its equipment was furnished by the famous firm of Siemens Halske, which stands in the front rank of German electrical manufacturing firms.
Telegraphs.—Another mark of progress is the continual extension of the telegraphic system. The national, provincial, and private lines together represent to-day a length of 31,215 miles, of which 15,125 belong to the State; twenty years ago the mileage was barely half this figure.
As for telegraphic communication with the exterior, there are two foreign cable companies, one possessing the cable running to the United States via Galveston, and the other that communicating with Europe via Madeira. Communication between London and Buenos Ayres is now established in about forty-five minutes, while a few years ago the average was five hours.