The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-04-09
s57s,345 90
.43, $40 64.1OO

March last year-ls55-ths sales amounted to only
sls7 ess a. in April 1885, to $3.50 s47 Co. and May to
sS73,2l 0s. In April and May this year, we have
doubt the sales will be nearly double those for the
months Last year. There has been good beginning this
year both IN railroad receipts and in land sales during
the rigor Of which almost enough to arrest
all operations of the kind As the weather improves and
the in that section disappears there will be greater
aotivity in AL outdoor business, and settlers viii be
seeking sssrms for locations interssctsd BY railroads
opening Communication with markets at once Illinois
has advantages Of this kind SUPERIOR 1T present. to any
State west Of the Mssisaipp river. With population
already numbering more than MILTON the annual In
must be very large, and the value Of lands must
rapidly increase It appears to that the true policy
Of the Illinois Central Railroad Company is to bring their
lands Int the market gradually and spread the sales
long period possible ~ to derive IS much bone
at o. possible from the annual increase in value.
Some OF the holders Of the bonds OF thu Ohio and Mis-
sssippi Railroad Company making efforts to induce
capitalists to embark in the enterprise Of completing the
eastern division Of this extending from Cincinnati
about 90 miles, vincenres With what their
efforts may be crowned remains to be seem but 1t 10 to
be hoped that their plan other scheme will be
presented in Light sufficiently plausible to bring out the
to finish tho work and make the existing bonds
of value. The proposition Ia said to be for the
holders Of the 900 FIRST mortgage bonds to
der the due coupons and those maturing for while
to come and to take obligations Of the company in
stead and for the holders of the present second mortgage
bonds TO surrender the and take for them and for the
due coupons part OF an issue 500 bonds 10 be
secured by mortgage which viii then be the second lien
upon the work. Should AL Of the bond holders into
tbh Arrangement 1t is expected that there vii remain
enough Of these second mortgage bonds relieve the
company from its floating debt third Issue of g. $780,,
NJ Ia ~ Anish tho
road and supply the working stock This PLAN if could
be carried out would leave the road charged with over
$50 per mile Of bonded debt would require clear
net annual earnings Of 1856 per mile to pay the interest
the first mortgage bonds, and further amount Of
earnings Of 665 per mile to pay the interest the
second mortgage bonds, or the OF 32410 net per
nile after paying ell expenses Of working before the hold
Of the third mortgage bonds could receive anything
their bonds. For the purpose of comparison, 70
annex statement Of the earnings Of the Little Miami
and the Cincinnati and indianapolis, showing how much
per mile the Ohio and Mississippi company would have
to earn to pay merely the interest on its debt
The Little Miami Railroad. .83K miles
And the Columbus ana Xenia Railroad ......54x do.
Are worked together. ...................l38 DO.
Cost, fully equipped, about s45 900 psr mile.
1865. Na per mile
kecefpts.. .,.,,................> l,Ut0,0OW
Expenses. ..............,....... eoo,Wo
For stock and bonds, net .. $50 600 or 81, e9s
This road has been open for years. It con.
adered to be well and economically managed 1t Ia In
good location and probably enjoying than the
average traffic of the Southern Ohio Railroads It's
cent dividends have not been paid in cash.
Tho Indianapolis and Cincinnati Railroad 81 miles,
pretty well equipped -
1855 Net pr mie
Recetpu... ...,,.,.......,........t 4l8 66S
fIPsnsse. .s.sst't,s sssss.stst,'.'. zbiDp
Net receipts including net earnings
ovsr 10 miles Of other road work.
ed By tbb company 5000 ,652 S2,2N
This model railrosd-has been open alb 5ut three
years 1t very economically Managed and 10 In very
favorable location. It traffic receipts comprise the
whole business between Cincinnati and Chicago, and
those between Cincinnati and st. Louis over the Tsrre
Hauts and Alton Railroad
Tho Ohio and Mississippi Railroad, Eastern division
100 miles, has Arst mortgage of o. o0o the annual
interest On which sl4S Soo-equAl to e753 per mile
Il "a proposed 70 The second mortgage - $780,
600 the annual ineres. on which would b S3l6 600
eoual TO o. e6s Der mils mailing total Of s24l0 per
mia Thus this road must psr mile than ths
I. dsr polls and Cincinnati Railroad before can pay
the 6rst end second mortgage bonds
The following extract frou . letter dated TsIsdo
March "a 1885, gives interesting information rsiA-
,,ye to the railroad operations Of that poa Toledo il
fast becoming the centre Of . great railroad business
fbs completion Of the Toledo Apd Detroit Railroad W.