Washington telegraph., 1853-05-04

175 miles, the length Of, .,k-1sss por-
ton Of this railroad is 2S5l les.
In order to give an appropriate and def
mite name to the Arkansas portion Of
this railroad, which will apply with exact
fitness both to the United States Survey and
the grant Of Congress; as township %, range
Z, east, through which the line of the sur
vey and the line of the grant both run aia
Little Rock to Fulton, is near the western
base Of Chalk Bluff, we viii call the Ar
kansas portion of this road CHALK BLUFF
AND Fulton RAILROAD
Chalk Bluff and Fulton Railroad is there
fore, by the authority of the agent of the
government, shown to be be 2S5 miles in
length; and the cost of construction of the
Ch0lk Bluf' and F'ulton RaI Road
is, therefore also, by the same authority
shown to be $4,802, 101.
BY referring to the law of Congress making
the grant of land to Arkansas and MIssou-
ri, we find the amount to be contingent
mainly on the length Of the road, which
lands" in the words of the I'd Sec. of the
law are definitely described as "being equal
in quantity to one-half of six sections in
width on each side of said road" There
fore the quantity of land granted to the
Chalk Bluff and Fulton Railroad is equal
to six sections in width, in solid body, and
to as many sections in length as there are
miles on the road
Now tie Chalk Bluff and Fulton road, is,
as above stated, on the the authority of the
agent OF Of the o. S. 285 miles in length
Therefore by multiplying 2S5 and 6, We ind
that the number Of sections granted to the
Chalk Bluff and Fulton road is 1710; and
as there are 640 acres ina section, therefore
l,094, 400 acres are granted to the Chalk
Bluff and Fulton road
Here we viii assume what will, no doubt,
be readily acknowledged, by the knowing
ones" In this business, as a reasonable posi-
ton, that the lands granted are worth, on an
average, So, 80 per acre, as they can be dis
posed Of only after the route is located and
''as the work progresses. - and therefore the
prospective price must be a necessary ele-
ment in tie consideration Of the present-yal-
ue.
Taking then this position OF $3.50 per
acre, as the average value Of the land
for the purpose Of being applied in the
construction of said road and as the law
declares they shall be applied to no ether
purpose whatsoever it follows that the
value Of the 1904, 400 acres is $780,
coo.
But the u S. Survey declares that the
cost Of construction of this road is S4,S02,-
l01, and therefore it follows that the value
OF the land is worth more than one half the
cost of the construction of the road by
S334950.
Referring again to the report Of the sur
yey, We find that Capt. Barney says:
CAS- the cost Of construction Of depots,
station and engine houses, workshops, ETC.,
must depend upon the nature and extent Of
the business on the road, no provision has
been made for them in the above esti-
mates"
The cost here mentioned is called the
cquipnze,st Of the road, and includes the
cost of locomotives, cars, etc.-every thing
necessary for the practical operation of the
road
The equipment of main leading trunk
roads, costs on an average, according to the
opinion of the most experienced engineers,
$1,000 per mile; and as the Chalk Bluff
ard Fulton road is considered, by the law
of Congress, such trunk road, and as its
length is 2S5 miles, therefore the cost of
its equipment is sS55.000.
BY adding the cost of construction to the
cost Of equipment, we find the road ready
for operation at total cost of 1851, ,101.
But the value of the land granted to the
road was proved to be S2,726,G ,G00j there
fore the cost Of the Chalk Bluff and Fulton
Railroad, in complete running order, ex-
ceeds the value Of land granted to it only
$2,921, ,101
We maintain the above as a demonstra-
ton Of this problem. and challenge any cav
iler against our conclusion to find any
error in the above calculation, excepting on
ly what would be produced by the addition
of three -fourths Of mile to the length Of
the road.
Such being the state of this enterprise,
and the Cairo and Fulton Railroad Co.,
having been incorporated last winter, by
the Legislature of Arkansas; all the stock
necessary for that Company to obtain is
taro miILion, nine hundrcd and ttrenty-
one thousand, one hss,sdred and one dol
lars. in order to finish the whole work, and
put it into operation from Chalk Bluff ato
Little Rock to Fulton.
Though the stockholders in the Cairo q
Fulton Railroad may realize 0ri,scely yet
the State of Arkansas viii realize an aznpe-
rial fortune from this enterprise.
Missouri is less fortunate than Arkansas,
though none the less reioiced at the brilliant
fortune that is now realized, (and yet it can
be scarcely reaEzed) by her warm-hearted
sister State
The Missouri Railroad forks at Chalk
Bluff, on the boundary line between the two
States. The General Government applied
the survey to one prong, and then applied