Wisconsin tribune. (Mineral Point, Wis.) 1847-1854, 1852-06-24
LETTER FROM HON. NJ. NJ. STRONG.
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Mn. JOHN BRAcKEN,
MINERAL PoINT, }
June Is, 1852. (

Sir-It would afford pleasure to be
here Saturday and Meeting the Citizens
Of the Lead Mines preliminary the organization
Point Rail Road Company but obliged
for La Cross attend the opening Subscription
the La Cross and Milwaukee Rail Road which prevent my
being here. You will however for offering few
geons which my reflection upon and examination Rail Road
enterprises induces beievcay perhaps some useful
results
For several years construction of Rail Roads was
first United States the means to build them
raised almost entirely by Stock subscriptions The
of raising funds has within years, undergone great
change and Rail Roads built great upon
their own credit Aud there difficulty in raising in the
Atlantic cities and in England any desired capital up
roads which knolcn will pay difficulty lies in fur
nishng satisfactory evidence that they aH pay The very
evidence would be to build the road and in operation
let the result furnish the demonstration but that done
without such exaneous aid then the aid is needed The
best evidence subscription by those most in
eresed in the road and whose information will best
enable them judge of its probable pro6abenes accompanied
by ample statistical information the cost the road
and its probable business and income
The suggestions wish will be confined to these two
subjects of Stock Subscriptions the relation to
cost and income
understand that the Capital Stock of the Company is s4oO
OOO with authority to increase 1t $500 600 would
that lawfully done the CAPITAL Stock
should be raised to at least S6O00OO The Capital Stock of
Company ought be much fifty per than it
expected the road will for these and perhaps
st 1t will enable the company issue bonds
ID It will give them surplus applied in part pay
of the road 3d. 1t avoids the necessity Of calling upon
stockholders for large percentage their stock
otherwise be necessary.
The suggestion would make with reference to Stock
subscriptions is that should be distinctly that
Stockholders event, on to pay more than
twenty-five than thirty per their
scrptons Nor will any larger be necessary will
demonstrate
that the can be built and eauppei for sI5 600
per mile exclusive of Depots Station Houses and that it will
pay handsome income its cost and before conclude will
show that this assumption well founded That being the
there no difficulty III finding responsible contractors who will
take tile for the build equip it. and fur
n thing and put in operation in twelve
the date OF the contract the following erms-S4
IN cash93 600 lie in the the company Sc
cured by the first lien the entire road and its equipments
SO 600 mile in the Stock Of the Company.
estimate the distance be thrtytwo miles Mineral
Point to the State Line the point proposed it,
uterect the Chicago and Galena Rail which understand
sn Ranges Three Four, East On the
road would follows:
In Cash, 81 Miles at 81 600 per mile, is s28OoO
nds, 81 $4,000 ESQ COO
" Stock, 80 " " So 600 10000
Total $3.50 Geo
If the Capital Stock to $500 O00 which is 600
shares each 600 shares could be pay Con
tractors and 600 shares up by disposed aid in
carrying the enterprise and if the whole were
subscribed, it would require over 25 on each
{ Precise would be ra.se tie necessary
sum of $4,000 Hence l say that would recommend that
subscribers stock should understand they
be called pay than $25 then
disposed subscribe for four shares
if 81 600 for forty and
Again will probably be found always the case
with similar enterprises that there many persons wish
the Railroad all really be verv
glad constructed but who consequence either of their
ignorance ofhe and income of such work
have but little faith completion yet
willing give something gatuty without expect
ing that any portion of it will be
less that will prove profitable investment 1t is desi
abe that all who this feeling should
the they thus disposed with
and expectation of FORGETTING the stock If disposed to
donate five dollars lehm subscribe for share if
shares if fifty for shares and the subscription for
the stock imposes obligation pay anything than the
first insalmen The thus paid forfeited stock could
be used in deng the expenses of making survey the
stock the company be again subscribed fer by those
having faith used aid in building equpping the
road or in erecting Depots Station Houses
thorough survey route and every
en aud permanent location the best should be
made early day possible under the direction of En-
gner high character and known standing whose report would
carry weight with it wherever read Such survey
road of this length could probably be made for O0O which
would be but twenty share 5000 shares and less
there should be much forfeited stock.
In and road will say few
words
The controlling consideration in the any Railroad of
location and the depends almost
entirely the grade aud the of excavation emban
bridging and cuIverts while the keeping road
repair Influenced very much grade and
The northern terminus of this road the Char
Mineral Point The southern terminus is fixed Nv the oh
and design the Company which nersec the Chiea