The miners' express. (Dubuque, Iowa) 1849-1854, 1851-09-17
For the EyprcSS


gentleman who has recently passed over the
Ogdensburgh Railroad, says there are more
buildings going up along the line than have
been built IN the last fifteen years. The raluc 81
reat estate has almost doubled since fA,s railroad
enterprise commenced and business HIS rscettsa
q great impulse A. the western terminus OF
| the road, noble wharf, mile in length, has
been constructed, and among the improvements
upon il is floor shed 1870 feet long, freight
house 400 feet long, and an elevator building
containing AZ bins, which have the capacity Of
holding l65 zoo bushels of grain. The elevator
is worked by steam engine, and can raise from
vessels hold into the bins 1900 bushels Of
gram IN an hour.-ChtcGg0 Herald
The above extract shows one source of profit
to be derived to this city and the country through
which it is to run, from our Council! Bluffs Rail
road. Suppose real estate should be doubled in
| value, lend why should it not be here as well
as everywhere else, where railroads have been
made y it will be seen that every landholdrr
would be no loser, if he sunk every cent invest
ed In the railroad stock, to the amount of half the
present value of his real property. II he has a
lot worth 5000, or house or store worth $1,000,
or farm worth $1,000, and he should subscribe
in the former case 800 to the railroad, aud in
the latter $780, and lose i: all, he would make
! money. In the first case he would lose the
| 300, and his property would advance to the
| value of $500, giving him profit of 800; in
| the latter cases, he would lose $500, and his
property would advance to $2aO0, giving him
profit of $500 So that, if every real estate
owner would borrow money to half the value of
his property, and invest in the railroad, and lose
it all, he would in fact in the rise of his estate,
make Jftty per cent pratt. This is looking at
the subject in the worst possiGts aspect. But
he would not lose his stock. 1t will be good
property, aud pay well by and by.
We see, then, that every man that owns from
800 worth upwards Of real estate in the city
or country, can we'll afford to subscribe to the
amount of half its value to the railroad, and if
he has not the money, to borrow it and pledge
his real estate. | presume the directors would
be wiling to make an arrangement to take the
notes OF real estate owners, bearing interest at
- per cent, secured by real estate in city or
country, and payable some time hence. Then
the subscribers could BY and by sell out their
stock if they chose, and redeem their notes. or
pay the money and hold their stock Ey" Would
it NOT be sceH for the Directors to mature some
plan Of this Kind, to take farmers notes.
! The above extract also shows how much it
will De for the interest of The county to sub
scribe for railroad stock. 1.-THE taking of SIS 900
worth will cause the road to be built at once,
that act would raise the value of the real estate
of this county fifteen times that amount! The
taxable value of the real estate of this county is
in round numbers, city lots $60o,00U, and other
lands $9o0,0O0, total $l,5OO,OOO. Now sup
pose half Of this (including city property were
raised to double lts present value, the advance
would be 81 GOO.
Then suppose the remainder were raised only
half a. nucl, $50 per cent? the advance would
be 1875, 900; making grand total of 81 1885,
900. The taking, then, of $4,000 stock by
the county would increase thevaue of the real
estate of the county $l,l25,o00, or Is times the
amount subscribed. Besides which, the county,
,oould opn the stock. The ,caole advance of
real estate, then, would be clear gain, simply
| from the county ioaning its e.sust Cons
| pany for that small sum. The taxable real pro-
perty would be- much increased, to sag nothing
Of the increased personal property and the ratue
IF nco Improvements ,chich ,could be made in
consequence Of the construction Of the railroad.
The additional taxes, in fact, which would be
raised i'll the county in the ten years from this
time, because of the railroad, would over and
over again pay the whole $4,000 subscribed
For instance, saying nothing of ne,o improve
ments, the taxes for ten years, at the present
rate (94 per cent.) on the additional value given
to the present real estate, viz JOS, goo, would
amount tn $l06,87o, or one third more then the
whole amount ($7o,O0O) subscribed! If to
this be added the increased taxes accrung from
increased business and personal property, what
gamer would the county be!
Real estate owners, then, will be blind to
their own interest, if they do not come forward
one and all, and subscribe for stock, and vote to
have the county do SO too Every man, by the
making of the road, will have his farm or lot
advanced from so to 100 per cent. NJ
P,S. If any one thinks the calculation too
large, and that some of the lands in the county
would not rise much as | have estimated,
answer, other lands, including city lots, would
rise much more, and thus make the calculation
good.