The miners' express. (Dubuque, Iowa) 1849-1854, 1850-06-26
RAILROAD DEPARTMENT.
l From the Chicago Tribune
Galena and Chicago Union Railroad,

Saleha ana chicago Union Railroad.
We desire to call the attention of our citizens
to the Annual Report, which is annexed, of the
PRESIDENT of the above named Road to the Dir
| ectors at their annual meeting at Elgin on the
9Th inst If there are any. who have considered
| the stock of this Road of doubtful value to its
| holders, perusal of this report must change
| their opinions. What has been done. the A.
mount expended for constructing and operating,
and the receipts and results are clearly and
succinctly stated. Not one cent has been char
ged to the expense of construction which legti-
mately belonged to the operating account. On
the contrary, the interest on loan effected to
construct the Road, and which legitimately be-
longed to the construction account, has been put
to the other, thus making the dividend appear
so much less than it really should. The Direc-
tors, however, have an excuse for this in the
fact, that while the stockholders lose nothing
by it, they still get much larger dividend than
they had expected, and far beyond the estimates
on which the subscriptions were based
1t will be seen that the Directors intend con-
tinuing the Road West, as soon as stock shall
be subscribed to the amount of 0000-rely-
ing upon the credit of such subscription to OBJ
tain loan of 100000 more. By such course,
the Road cannot become involved to the detri-
ment of the interests Of stockholders, or be pla-
ced within the reach or control of Eastern CAPT.
talists. The estimate of dividend of 20 per
cent on the stock, for each OF the ensuing three
years, will be fully realized, if, indeed it be not
exceeded, as all previous estimates have been.
Already the best dividend paying Railroad stock
IN the United States, when it shall penetrate the
great and comparatively uncultivated valley of
Rock River, and the immense region on the
border of the Mississippi, we'll as constitute
thoroughfare for the trade and travel of the rich
est part Of Iowa and Minnesota, its business
will be almost without limit
the Galena and Chicago Union Railroad
Company.
JUNE 9th, 1850.
To the Stockholders of the Galena and Chicago
Union Railroad Company.
GENTLEMEN:
With this Third Annual Report, the Board of
Directors Of the Galena and Chicago Union
Railroad Company, herewith present the report
of John Van Norwich, Esq, Chief Engineer
and Francis Howe, Esq: Secretary and Trea-
surer of said Company, containing full and COM
plete statements of the financial affairs Of the
Company and of the progress to completion of
the first division of the road its COST and the
business done upon it, up to the first of May
last, showing the condition and prospects of the
Company to be highly prosperous and encourag.
ing and such, it is believed, as cannot fail to be
satisfactory to the stockholders generally.
The cost IF constructing and furnishing the
first division of the road, (42l-2 miles in length,
and which went into operation in January, 1S50,)
was, up to the first of May last, including cost
of Depot.
Grounds, $4o5,3s2 SO
Other expenditure, for ,O26 acres, chiefly wood
land, and for materials on hand to be used in
construction of the second division of the road
and for wood on hand, to be charged to operating
account of the current year; 35,7l3 q