New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-07-26

II will be seen from the foregoing statement that the
constr con and equipment Of the lines of road already
In oreration have cost this date - 2s6 500 TO- while
sns 457 have been invested in STEAMBOATS,, deemed
necessary for perecng the business connections OF the
tom, any upon Lake Erie. Ii also appears that up to
this date 81 5o9256 A have been expended upon toe new
works Of the Company, while the corporation owns bonds
and mortgages and stocks 10 the amount Of over $40 0OO
The actual amount of stock Of all kinds issued by the Com
panes ON July s5 49 800 81. Ofths amount It ap
eers hat the old capital stock oftho Companies
Ing 10 81 500 held by 52 different shareholders
and the construction stock of the Companies amounting
81 s94 600, owned by 632 shareholders the issue
of NAV 10 not being included in these The SUN
then remaining due and unpaid upon the May issue
s444 o. II 10 these add the issue of August
of 1881 800 the aggregate capital stock OF tpe Com
pany will amount 10 S6ss760O This sum OF s4ll 69 o.,
together with the amount to be realized from the
stock be distributed the LIST day of August cons
flutes the fund upon which the Company TO complete
and bring into their unfinished works.
These works in an advanced state OF forwardness
The work upon the jackson Branch has been let in small
sections Fifteen miles of the line completed and in
use. Fifteen miles more Of 1t are ready for the rails
which are being laid down. ThirtytwO out of the
forty miles of the Branch will be completed by fall and
the remainder nj an early DAY thereafter.
The Goshen Line let in larger contracts Messrs.
Il Folsom, Curtis & Thomas having contract for the
20 miles Of the road to be completed by the LIST
day Of September next; and Messrs. Allen Daniels &
Grant having the contract for remainder of the lne
20 be completed by the LIST day OF January next Over
40 miles of the road is already finished and the compile
ton of the whole of may be confidently expected soon
after the time named in the contract.
IL cannot be necessary here to enlarge upon the impor
lance the prospective value of these lines. Upon this
point the last annual report Of these Companies full
and explicit.
But Il NAV not be out of place at this time to suggest
for the consideration of the stockholders data which
establish beyond all doubt the value OF the stock which
is offered for distribution.
The ease earnings of road for the first year of its
operation were 81 92h IL FOR the second year 81 3d.
s33 49, thus showing increase of 90 cent Ii we as
that the increase of business for the third year viii
be only 25 cent, the total earnings from eur ATc as 49,
will Tor the year ending July, 1855 ~ 600
II em this deduct So p for expenses lbs 900
viii leave net earnings rs So
Deduct from this the ueres, OF loooooo.. $4,000
aud will leave for dividends $50 OOO
Equal to over Il 4 cent. upon 5000 CO., ofs.ock.
These estimates, it will be remembered, b1sef upon
Inc as The Board entertans doubt whatever
that the 100 miles of road in process Of consGc
tOn VIII prove Smunerative of themselves, and add
largely q our earnings Without attempting to fix the
precise aount Of the probable business of the Company
the Board from past experience and from their See
of the country raveTsed by and tributary their road
feel justified in expressing their confident opinion that
81 500 coo is the of the gross earnings of this
Company within one year from the time when It's new lines
shall be completed and brought into II 80 3 cent is
allowed for expenses and interest upon 100000 is de-
Quoted there would still be left 500 GOO for dividends
equal about II cent upon $1,000 geo OF capital stock
Here is margin wide enough for satisfactory resu in
any probable contingency and dismiss this subject with
the single remark that heretofore all published es
Of profit have been exceeded by the sexual results
and believe in similar vndicatOn OF opinion in
this
construction of railroad communication between Lake
Erie and Chicsgo-we have aimed, not be diverted
from tits oRsrai purpose, drawn into other and
traneous enterprises We have acted steadily upon this
policy and have only departed from it 10 few Instances
where important considerations the opinion of the
Beard justified and demanded such course. For cyan
ple In the early history Of the Rock Island Railroad
Compsny this Company aVaed itself Of the charter of
that Company procure the right of way through pOr
ton of Illinois, and by arrangement with il, subscribed
for its stock the OF $50 O00 portion this
subscription expended in constructing line in
Illinois and portion Of il was invested IN the stock OF
that Company which is now held by This subscrp.
tion was the time of very great Importance TO that
Company Il enabled e perfect It's organization, aud
aided essentially in giving that impetus which has car
Tied IT, within two years TO prosperous completion The
completion of this important line hes not only rendered
the stock which took in good propert, but It has
also opened TO nearly two hundred miles OF railroad
communication from Chicago 10 the Mississippi River,
which Is now daily sending large railroad traffic, which
gathers from the Far West line from Chicago
70 Lake Erie.
Having, by means of the Rock Island Road secured
connection with the direct West the Company deemed II
sable TO strengthen and their communications
with the Southwest and for this purpose and upon
tracts securing them desirable business they
have within the past year. extended limited amount of
assistance toward the completion Of the lines which point
to the Mississippi and ST. Louis The moderate aid thus
rendered upon ample securities has essentially FASTENED
the completion of continuous railroad communication 10
st. Louis BY these arrangements, this Company by a
moderate outlay has secured and within short time viii
different roues-drect and continuous
railroad communication from Toledo over their line