Good call Eng Dave.
I didn't notice that the question was about the reading at the transmitter terminals, in which case your reading would be different.
Interestingly though, from the negative transmitter terminal to ground you often see the same voltage that you would across receiving devices input terminals.

Togol,

Many instrumentation current loops actually drop the 4-20 mA current across a 250 ohm resistor to supply a 1-5 VDC input signal to the controller or recorder.