True American. [volume] (Steubenville [Ohio]) 1855-1861, 1855-07-18
From the stsubenvills Herald. /.

every mans self interest than those there
presented. Before proceeding TO explain
them, will add to what / have already
said, that Eve dollars an acre may be set
down as moderate average advance on the
lands within the limits before indicated.
This will give an actual advance on I 500
600 acres Of land Of g, 500, 600 or $500 on
each quarter section, aneaa-,,
The advance in the, nett proOOeds over
and above the cost Of marketing Of all sur
plus agricultural products sent to market,
will bc at least in equal degree on those
products heretofore marketable. But this
is not all. Many articles which can in Ger :
tain localities, be produced in great abun-
dance, will be added to the list of market
able productions, from which they have
been heretofore excluded by their bulk, or
weightin proportion to their value. Amongst
these are hay, corn, potatoes, oats, coal,
slaves, heading, hoOppOles, boards, stone
from valuable quaries, &c. These, whilst
they add to the productive value of the land
affording them, will also swell the business
and income of the road. Experience has
already proved this as to some ofthe above
articles; and others will in the course of
events be rapidly added to the number.
And now let US look at the stock itself.
l propose hereafter to collect together the
data more fully than l now can from which
to determine the permanent value of the
stock. For the present will state that
Railroad charters, and this amongst others,
are without limitation as to time. A Rail.
road therefore, being once completed, and
the paid stock made equal to the cost and
full equipment Of the road, the stock il as
permanent property as land or any other
property man can have. 1t differs EN-
tirely in this respect from bank stock. Bank
charters seldom have more than twenty
years to run from their creation, and their
renewal is always matter Of doubt and diff
Guilty, besides the many other calamities to
which bluks are liable, from which Rail
roads are free. ... ...-
What dividends the stock will Weld,
must depend upon the cost Of the road, and
the amount of steady, permanent business
in travel and freight it may be able to com
mand.
The present charges for travel are three
dollars and torty-tye cents, from Steuben-
vile to Newark, and twenty five cents from
the Cadiz junction to Cadiz, making three
dollars and seventy cents for the entire
length of the road. The charges for freight
vary according to the character of the prop.
erty to be carried. One-third Of u cent per
mile for each hundred pounds would up.
proximate an average, yet it would give an
imperfect idea, for instance, -four is carried
from Newark to Steubenville for thirty
cents per barrel Of ZIG lbs. A ton Of first
class freight is carried from Newark to
Steubenville, 1l6 miles for $500, second
class do for $500, third class DO. for 81,
so; and intermediate distances at the same
rates. A comparison of the road in some
of the most essential particulars with other
well known roads, will best show what are
itsprospects.
Since writing the above, have seen the
financial statement Of the cost Of road. This
will enable me to make financial compar-
ison at once, which | proceed to do:
The Boston & Lowell road twenty-six
miles long cost $l,956,7l9 or 1888 per
mile. This road divides eight per cent.
and retains large surplus.
The Boston and Maine road seventy three
miles long, cost $3,O21,172 or SAL 1856
per mile. This road divides nine per cent
and has an average surplus to meet casual
ties ofS50,000.
Boston and Worcester read, fsrty FIVE
miles long, cost 81, ,ll3,6O9 or $9l, ,0l3
per mile. This and the Boston and Low
ell road have double tracks. This road d.
vides ten per cent. and keeps large sur
plus on hand a- E5
The Steubenville and Indiana road has
cost as it now stands including all expenses,
$500, ,23O,75 for l24 miles Of road, but
further outlay of 100000 is required for
depots, stations, motive power and ballas-
ting, making total Of 81, 100000 r$222,-
25S per mile. This sun has been raised
as follows:
Stock subscribed and paid l,2lS,827, SS
Earnings of the road on freight 22,997, 0S
On passengers. ...3S,08S, 81
Bills payable and due indi-
viduals. ......,.......... ,2S4, Sc
Loans. s.......... .............."...Z,5U ,5Ul ,USi "
To be provided. 1877, 769, Is
..H.... ~ mn mn m