Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1844-11-14
VI. and 4. Rail Road.

VI. anu i. tk0lb btO:sO.
From late report of committee of the Madison
and indianapolis Rail Road Company to the stock
holders and others interested We make the fJllowing
extracts:
The Madison and indianapolis Raj Road was one
of the works. embraced in the general system of In
ternal improvements, adopted by the the year
l-3j. II was then located from Madison to Column
bus A miles, and afterwards to Edinburgh Ii miles
fuTther The expenditures Of the Safe on the rad,
between the years ashland -i2 81 ,62i,29l 93,
of which Sj2.I93 II were received from tolls, and
the balance from the State Treasury.
The money expended by the State completed the
road 10 GrIiiiths. - miles, and paid for about one
half Of the grading and bridging y niles further
the ground for tie Depot IN Madison. the work
shops va the bill, two locomotives, and the cars nc
cessary of tie road then finished were also purchls
ed constructed for the State. Without doubt there
was great waste Il money, especially the Madison
Plane and the Bridges south Of Vernon, but tie fin
ished part generally WELL done, and the best
quality of the 7. Raj procured for 1t.
Tire Road continued under the care OF the officers
Of the Satc. until the both Feb. lSi3 but the profits
30 little exceeded the expenses Of management and
repairs that IN the year before it surrendered to
the com pany. the surplus only 81 l52 Oh.
Tie Legislature Of ISL, finding the public works
Improbable and expensive, with m fund, to complete
them, and dull prospects of profit from them, if
pletcd, passed the act providing for their extension
socltion has been organized BY virtue Of its rroyi
sons about $1,000, mostly III land at cash prices,
subs ,ribcd stock in Apr,l and May, 1912. In
June Directors were chosen and the Board organized
in July the first IL miles north Of Griffith, put
under contract and soon after the next four TO Co.
lum5us.
The Road was completed. June l. 1913, 3 miles to
|S-Pio; Sept l. further, to Ezabcthtown; Feb. l.,
1911, - miles to City and July g. - miles fur
der, 10 Columbus.
The to the Company Of the grading, bridging and
structure for the IL miles 50 far as settled $4,000 90
The amount unpaid is estimated at 400
Fla; bal lion, spikes, &e. foI Tack, 26,2si rs
peiot at Columbus, 90
Total, slIO.467 81
The amount paid for work north Of Columbus 1896 80
Ca,h ID be paid on contracts made 81 Sept inst.
for the biiige Flat Rock and the grading
and sulelstructure 10 Edinburgh, 1880
Estimated cost of n Il bar Iron for | miles, $4,000
Depot at Etinbu Oh, damages aud contingencies 1850
So that for about siJ2 90 g the Road it is believed,
by the first Of Feb. next VIII be completed - miles
from Grtii,h's and J6 from Mad son.
The present debt of the company Is 10. quite :l0,-
0Ga. of which $3.50 is balance on the lron viii n
becomes due in October and November. After pay
ing expenses and keeping the Road in repair all the
profits, hy the assent of the SoG hholders, are be
applied to complete it to Edinburgh, and until the
debts contracted for tbs purpose paid, dividends
will b made IN stock only. The States share of pro-
fits Si,lJ2 oi year until 1Sl6 is also to be con-
vercd into stock. The present capital stock, OK
elusive of the ownership 10y tic Stale of - miles af-
ter lol6, is $l05, =, Of which : per cent was
derived from the dividends of last year.
If sufficient new stock TO complete the Road to In
diana oli' could now be had, regular cash dividends
might be made every SIX months; bat under present
crcHm anccs, the only resort Is the profits realized
and temporary loans, for which. such arrangements
have been made, that there will b, unavoidable de-
lay in extending the Road 10 Edinburgh.
The Ca,nnauv to,k NOSES lion of The Road on ti,,
Goth Feb. 1913, from winch until the 3D. Feb Il II
tie receipts from tolls were SD 10 81, of whcl
S5.9IS % paid for expenses of transportation
1892 y for repairs of road, s26ll II for repair.
of machinery. Sll9 - for contingencies. and in,
balance. s-53S 10. was profits applied to the con
struc.on of the Road and added to the capital stock
The comparative business in 1913, and ISL, Il
this time Is as follows