Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1845-04-03
madison and Indianapolis Roll Read.


Madison and indianapolis Rail BEAD.
The Annual Report of the President of the Madi-
son and Indianapolis Rail Road Company to the Board
of Directors, made the 18th of Feb, lS45, is be-
fore us II is comprehensive and business docu-
rent, setting forth in plain and perspicuous man.
ner the operations the road up to the time of Its
date We cannot, consistent with view to the un-
Outstanding of the hole subject, much condense the
Report, and therefore give it in erteHso.
We however learn that the receipts of the road for
the month succeeding the report averaged about $40
per day, against SO per day during the same time
last year. With the certainty of completion, there
fore, and the increase of business, apparent to
the most casual Observer doubt the anticipations
of the President, founded actual observation, will
be more than realized.
We invite especial attention to the Report in every
detail the tabular statements, and to the law aP-
pended.
ANNUAL REPORT.
The Report of the late President, n. B. PALMER,
Esq, made on the 22d February, 1874 stated amongst
other things that year had then elapsed, since
the Company took possession of the y miles OF Road
finished by the State; that in June lS43 it had been
extended miles to Scipo, in September, miles fur
Their to Elizabeth Town, and February l, 1874, A
miles to Clify that the receipts from Tolls, from
Feb 20, 1913, to Feb g. 1914, so, ITO 80, the
expenses S12,C72 %, leaving balance laid out in
the construction of the Road of Sl0,o37 so. div
idend was then made of per cent by adding to each
persons stock, paid up for year In that proportion
The surplus supposed to be left has been required to
nav the rent then due State and expenses previously
incurred.
This Rail Road, it will be recolected, was COM
menced eight years ago. by the State, and over Sl,-
100000 expended. OF the distance to Edinburg, %
miles, one half was finished with good Rail, and
about half the grading done on the other p
miles. Though there was very great waste, IN the
expenditures of the State, especially the Inclined
Piano. and the Bridges south Of Vernon, yet the work
DONE ought even now, to be worth half the original
cost The State being without funds and the Road
improbable, it yielded only Sl,l52 O4 over the
expenses in 1911; it proposed by the Legisla-
ture of 1872 to be surrendered to the Company, on
condition of keeping it in repair finishing ten add
tional miles of Road every two years, and paying
rent equal to the profits of 1911, until 1916, and a
forwards the profits to be divided between the
State and the Company, according to the length Of
Road finished by each respectively.
The stock subscribed and paid with the profits
allied up to this time, being about ia per cent.
the two years operations, and the allowances
tracts for stock to be made this session, will make the
whole stock that is or should be on the books Of the
Company, amount to Sl2O,274 40.
On the first of July. 1914, the Road was extended
"a miles from Clifty to Columbus. The grading has
been completed to Edinburgh, ii miles further about
miles of this distance is ready for the Iron and the
balance is expected to be made within sixty days.
$50 Tons of Iron, heavy fiat bar have been contract
ed for of which 60 have been received and with
cut any unexpected occurrence the Cars will run to
Edinburgh by the first of June. The Company is now
in debt in the Bank 10000 it must pay this spring
for the new Loco motive 81 500 for the first install
ment the Iron, S. 900; and about 50 800 for the
Bridge over Flat Rock, the wood work to Edinburgh
the Depot at that place. and for laying down the Iron
The whole cost of the Iron will be about $4,000
MORE which is to be paid in six nstaments, running
from three to thirteen months, from the average time
Of the delivery of the Iron. There will be about
$4,000 of debts, principal and interest to be paid
within year, for portion of which, temporary loans
must be made. But if nothing shall out of the
usual of things, the Indebtedness of the Com
pany for completing the Road to Edinburgh, will
with all expenses be paid by the first of September
1916, from the receipts for Tolls alone.
Of the IL miles about being finished 10a miles are
perfectly strait nearly level and without any consid
cradle Cut or Embankment and the remaining part Of
the route Indianapolis, will be almost favoraby
located By the Engineers survey and estimate, the
excavation for the whole distance, 80 miles, amounts
only to 1926 yards, the entertainments 2S6, 73G
yards and the cost of Grubbing, Grading and Bridg
ing S96,927 "a The superstructure complete if a
by 81 inch fiat bar be used VII cost the further
of S96, 1856 So, or S15O,O0O for a good T Rail.
1t has been subject of deep regret to the Compa-
ny, that the 18th of March last by the misconduct
of person in their employ, two passengers and three
others lost their lives, and others were much in
jured on the Inclined Plane Madison. The Rails
being slippery, the Conductor gave positive orders
that until the Passenger Car reached the bottom no
other should be started the Plane. But in viola
ton of these orders heavy Wood Car was almost
Immediately sent down, and the breaks being INSULT
cien in the then state of the Road the Passenger
overtaken, thrown partially from the Track and
crushed. Three-faurths Of the persons on the Cars
not hurt. Though the Company has always
been embarrassed for funds the Directors cheerfuy
donated $3.50 to the Widows Of the deceased, and a
compromise has been made with the persons injured
that there will be recourse to litigation. Nc
sion, and at this time, those who manage the business
both the Plane and the Line are confident that it
free from danger, any other mode of convey
ance.
The expenses of the Road for REPAIRS the last year.
have been large beyond expectations To clear out
the cuts raise the embankments and remove and lev