The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1852-10-08

COtttUOto "a Giuuf"e, ~ BOtunB W. ,EO1
can do so, and in short, money will be
plenty and times easy. They are now
paying one dollariper day in cash fol
labor in the Dayton and Michigan road
Howis Putnam County to obtain this
road2 Simply by becoming stockhol
der iolihe amount Of sevcnty-fye thou
sand dollars--and here we are met with
objections that expects to be answered
Briefly then, if Putnam county does sub
scribe sevenly6ve thousand dollars to
the capital stock Of the Dayton and Mi
chigan Railroad Company; County Bonds
will be issred 10 that amount, under the
supervision Of ihe County Commission
ers, bearing interest at a rate not 10 ex-
ceed seven per cent per annum,- land
here arises the great item Of objections;
a tax to pay the interest on the County
Bonds. II is perhaps superhuous 10 say
that the tax payers will never be called
upon to contribute one cent towards pay
ing principal Of these bonds. The
reason Of this is, that as soon as the
road is in running order or perhaps be-
fore tits all completed, the stock that
the county will own will be worth as
much or more than will be required 10
redeem the county Bonds. The reasons
why we say the stock will be more Than
sufficient TO liquidale The county bonds,
are that the superior advantages Of this
road, for doing good paying business,
are such that we are induced 10 believe
that the stock will sell above par. We
are not aware of a single railroad in the
State Of Ohio, the stock Of which is moi
now selling above par.
Tie City Of Cleveland short time
since made a handsome speculation by
subscribing ona hundred and twenty five
Thousand dollars 10 the Lakeshoro Rail
road, they sold their bands for one hun
dred and twenty-five thousand five hun
dred dollars in cash, before they were
called upon to pay one cent Of interest.
Stock in the Lakeshore Road was selling
fifteen per cent. above par-lhey sold
their stock at this price-redeemed their
county bonds and made nett gain Of
fifteen thousand eight hundred and se-
twenty-five dollars, aud had the road be-
sides.
Now, the Lakeshore road has no. the
facilities for being as good paying, as
the Dayton g. Michigan Road will have;
the former having formidable rival in
the Lake navigation, and the chances
are that stock in the latter will be worth
much more than in the former.
1t is no. probable that The county
would have 10 pay interest on the Bonds
in case of subscription, for more than
one year, for the road will probably be in
running order by the first Of January,
1854, and our bonds wouldnol be issued
much before nextispring.
But in case, the interest on those
bonds must be paid by direct taxation,
there will be large amount Of additional!
taxable capital. According 10 the tax
law Of last winter all railroads are taxed
in the township and counties through
which they pass the same as other pro-
perry is taxed. If the road is located
Though Putnam county, the length Of
The road in The county will be some 20
miles a,leasi, at the lowest estimate this
length Of road will be appraised at two
thousand dollars; add TO this
fifty thousand for The worth Of railroad
warehouses and other fixtures, and we
have Two hundred and fifty thousand dol
lars which the railroad alone will add 10
our tax, duplicate, then allowing an equal
Of additional business capital,
which this road will call into our county,
and we win have total additional taxa
bic capital Of 6ve hundred thousand dol
lars, which according 10 oul present rate
of taxation would bring about six thou-
sand dollars into opr county treasury
more than sufficient to pay the interest
on the county bonds-so that 10
the event Of taxation, The present capital
would pay trife less tax than it now
Does
We have now viewed the dark side Of
the picture OF taxation, lei US briefly look
at the fair side, and see what additional
facilities. this road will afford towards
raising this tax,
All present after having carried our.
wheat 10 FindIay Tor 70 some other mar
set Of noway superior advantage) at an
expense Of about ten cents per bushel,
We have an additional cost for freight,
handling &C., Of thirteen and one half
cents before we get it on board vessel
II Sandusiy City, thus making the cost
i getting our wheat TO market not as
,ood as Toledo, twenty-three and a
lalf cents per bushel.
Il is ascertained by consultation with
he Board Of Directors and business men
,f Perysburgh, Toledo, &C., that wheat
san and will be transported upon this
road from any point in this county to
Toledo, for Ave cents per bushel-add TO
his five cents as the aggregate cost Of
getting our wheat upon the road, and we
iays our wheat in the best market on
he Lake AKA cost Of only ten cents per
,ushel; thus making nett saving Of
lirteen and halfcentS on everV bushel |