Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1855-07-28
Difference in distance

DlllcTcHCc Ill ulSluuCO OA
in favor OF Baltimore; thus securing all the
travel and traffic between the South and the
Northwest, with its great population and
resources, which now goes 232 miles out of
its way via New York. At Wiliamsport,
moreover, it will obtain fair proportion of
the immense lumber trade of that region, the
product of which now finds a market by the
tedious and precarious method ofrafting, and
the Pennsylvania canal
The sources of revenue then, for this road,
are the connection with Pittsburg and the
West-the coal trade oe the Susquehanna
region-the lumber trade of Williamsport,
and the agricultural product of the rich and
fertile country through which it passes and
the passenger travel between the South and
the North diverted from its present circui-
tous route. Either one of these three sources
would yield sufficient revenue to maintain
the road and the combination of all of them
upou its completion, leads to serious doubt
whether the capacity of the road will suffice
for the business that will at once be offered
nnd for Its sources of revenue there is no
competitor.
To secure the payment of the bonds we
Will give brief view ofwhat the property and
present business which the road offers. The
estimated value of the property Of the CON-
pany, consisting of S4 miles of road between
ioitihoic uliu Dulft Ill lHc iuUSb
substantial manner, ironed with rail of 60
lbs. to the yard, in the best condition of re-
pair bonds and stocks of the Wrightsvile
Railroad; real estate in Pennsylvania and
Maryland, q large portion of which, upon the
completion of the road to tide water at
Canton, could readily be sold for the valua-
tion, equipment, machine shops, materials
sinking fsnds and cash, amounts to $4, 74l, 1885,
as per statement enclosed. d.-Amount expend-
ed for grading and masonry on the road be-
tween Bridgeport and Sunbury, SS00,000
making together the. sum of S5,544, 133
Against these assets the liabilities arc
founded debt OF the company 6 per cent.
$2630,000.
The actual receipts of the road for the first
live months Of the presently year were $16S, 500
Expenditures S8l ,5l3, leaving as profit $751;
2O6, under the very disadvantageous circum-
stances OF the general depression in the trade
and manuiactures-an extraordinary def
cheney in the crops and revision of the toll
sheet imposing higher rates of fare and
freight, and correcting may abuses which, at
the outset, with strenuous resistance upon
the Part OF those living and travelling upon
lhe line oil the road, and which they have
gradually become reconciled to.
Since the first of May the recepts of the road
have largely increased, making it certain that .
the profits for the current twelve months will
mol be less than 5000 The present funded
ueol s2,03o,OOO
Amount proposed to be issued for completing the
road to Sunbury and to tide water at Canton
and additional equipments for new Ioad 250o Ooo
Total 5laoO0c
Interest on which at per cent. per unnum 3O7 soS
thus showing the extraordinary favorable re-
suit that the Road now in operation for the
present year with earn net nearly sufficient
not nnlu IN ba int IL 49,
now owes, but on all the debt it proposes to
make for the completion to tide water snt
Sunbury, by which the receipts will be nearly
trebled the first year. Let US not forget t
mention here that the Canton Company hav,
donated right of way through their proper
ty and wharf front at point where tn,
deepest water is found in the harbor of Bal
timore and from which its position is tn,
most eligible place for depot. AS for tn
increase of receipts after this completion shal
have been effected, the following is al esti
mate far within the limits
On the road between Baltimore Bridgeport,
81 miles are now in successful operation $4,000
This estimate is made on the revenue Of the pre-
sent mouth from which is very moderate
Revenue from through passenger and local ira
vel from Bridgeport to SuISury 275,OO
hevenue from general and through tonnage, in
Guiding local tonnage and Coal trade 5000
Mail pay at 5000 per mile, price now paid by
government for SIS miles Inn
Revenue from Express goods om
25o,ooo tons Of Coal carried to Canton over 100
miles of road at . cent? per mile 5ooOo
n.a,., 80" sI,63s 90
percent s0e2 500
Interest on existing deb, of 90, 6se,OoO
oper cent i6a,sOO
Interest ON proposed debt of g., 900
aopsr cent 10000
- 81 ,205, sc
Leaves for dividend on stock Of the company sa,9 A
We have been careful to avoid an ove
estimate OF the resources OF the road. and a,
confident that the result will Ear nxeaAI - ~ ~