Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1849-01-16
q" tHe EHFNtTtr.
COST OF RAILROADS.

This subject is now attracting much attention
oy reason OF the various applications 10 the Lee
gislatufe Tor aid in the construction OF numerous
lines ol railroads in the STATE. There appears 10
DC great diftelence in the estimated costs OF
several OF these proposed railroads. In recent
puoilcation Inc estimated cost OF The Louisa Rail
road from the Junction 10 tiiewater is placed al
81, l32 80 per mile. This was soon followed m
too, oy an estimate on the scientific basis OF the
average cost Of other railroads, from which il
was inferred that the Richmond and DsnyjIle
Railroad would be built for $40 600 per mile
And now We have the trio estimate Of the Lynch
burg and Tennessee Railroad, with the yeri,a
Die sum OF Si4250 and screen cents per mile
Sii we are far behind our Northern brethren. as
WIN appear from The following paragraph, clipped
rom the money article q The New York Herald
oi me l9lh December, wherein ii is said in con-
ne&lon with some remarks on the issue OF bon.s
by The New York and Erie Railroad COMPANY
mat II may be well for those interested. 10 bear
~ mind The acknowledgment III The company.
lhat u has on land no money; HAT the extension
VI 'ae foac 10 binehampon las exhausted It's re.
source. This j an admission thai orle aundysd
ana Jortp siz miles Of road hare cost u, cash 4,
contractors, az millions IF doiiors, independent Of
the 'ssneoj stuck Jyond the three millions su5ser,b
ea. Inc aggregate cost OF the road from Pier
mont 10 Blnghamrton, including luc grading
west VI olnShamPton IS as follows:
N'w York and Ere Railroaz-I Present Coa.
Amount OF subscription stock S3,O0OOOO
Amount oil Stock issued TO contractors 1000 900
Amount oil mortgage bonds issued 5000 900
Amour, Of old debt, with interest $50 GOO
h'uouht .! consolidated stock $50 600
oos' 10 present stockholders $9,40O,0O0
Amount OF Stale loan and old stock
rellnquished 3,75O,OOO
Total cost OF the road up to Janua.
~ Isl 1919, Sl3l50.OOO
IN return ior Tins immense amount expended,
this company have two hundred mics OF road
single track, completed, which it intends putting
into operation on the Isl January On This 200
miles Of road the company must earn 81 800 900
gross, 10 give them a net revenue OF 5000, 600
an amount necessary TO pay The interest en- Tho
aggregate Indebtedness In the addresses which
The present company have from time 10 time
made within the past three years, il has been
repeatedly stated that only six millions Of dollars
we're necessary TO complete The road from Hud-
son river 10 Lake Erie. When the books for the
three millions subscription were opened. the COM
pany in an address TO the public, showed-no
doubt 10 the satisfaction OF those who became
sHbscEibeIs-thal The road could be completed
lur SIX millions o. dollars, one bali OF which
was 10 be raised by an issue OF stock. and one
halt by an issue Of bonds The six millions were
raised in The manner proposed; bur it has all been
spent and less than halt he road finished"
This single track railroad, built under the Li-
rection Of Yankee managers, with the aid Of the
test skill, experience and science TO be found at
The North, il appears will cost sirty fp. thousand
5. zen hundred and fifty dollars per mile. How
lhenis it possible, that railroad in Virginia,
intended for the transportation of heavy pro.
ducts, such as lime, plaster, salt, iron and lead
can be built for les than one fourth the cost Of
the New York and Erie Ralroad' The slightest
reflection upon the nature Of the country be-
tween Lynchburg and Salem, of the passage Of
the Blue Ridge, and also OF the difficult approach
to Lynchburg, must induce The Legislature 10
pause before embarking the State in an enter
prise based upon such an estimate. II may be-
possible TO construct the Danyillc Railroad and
he Louisa Railroad on comparatively moderate
prices; but it should be borne in mird that these
pass through comparatively level
country, and that they are constructed TO carry.
3r the most part passengers and agricultural
Productions. On the contrary, the Lynchburg
I'D Tennessee Railroad is 10 pass over coun-
bear 10 market n,ns,nct;on and