The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-27

me Assistant Treasurer reports sAs week y fol-


Repayment on account Of the navy ...... 1o2o3l o3
We have received full and very interesting report Of
the La Crosse and Milwaukee Railroad Company. Ngves
an account Of the land grant made by the Legislature,
and the prospective operation that great The
purchase OF the Watertown road Ia satisfactorily
planned, and its Importance duly considered. The La
Crosse Company assume the debts and liabilities Of the
WAiertown Company the greater part Of which Ihave
been paid, and means provided to discharge the re-
mander in short time, and receives iss property,
rights, powers, privileges and franchises, thereby ab
sorbns the corporation SUCH which has been formally
dissolved by the resignation Of IL directors officers
all Of which proceedings have been subsequently ratified
and approved by An act Of u . legislature
The La Crosse company commenced the LIST OF July
last creditng TO operating account the gross recepts
and the aggregate from that time TO Nov. SPA
sos n. November and December estimated at $780,
900, making total for the six months Of ts24, o00 De-
ductng the current operating expenses from this and
have balance OF sl947 "A constitute the dividend
fund after deductng the interest funded debt Out OF
this cash dividend Of Ave per cent will be paid the
LIST Of January and the surplus reserved future dis
position. On the LIST of January the road win be opened
TO Portage City, when the whole Of the first division will
be brought into use making distance Of % miles from
Milwaukee, or nearly half way to the Mississippi river
The most important feature in connection with the pro-
gress Of his road 10 the land grant from Congress-
title to which through the Legislature Of the State
In relation to these lands their future value &c. the
port says
The classification and valuation Of these lands be
deter by actual after the aa veys
made but information 10 sufficiently accurate to
enable rs TO make approximate classification and vau
alton. which will not vary materially from the results
based precise data The region OF land through
which these lines will il Of superior quality gene
rally for agricultural purposes Astounding Ia water
courses large and SMALL among which are tue Wisconsin
and innumerable lesser streams, aiordng hydraulic
pc wer generally distributed 10 the purposes
OF the whole country and afford numerous village stes,
which will be speedily occupied by enterprisng peo
pe Some valuable iron miues are also touni in this re-
no doubt geological survey will develope extensive
mineral resources Of great value.
More Of these lands VII % offered Tor sale until the
year. which viii be about four five years from this time.
But In the meantime, the lands remaining TO the
upon throughout the whole distance and the country
generally progressing in improvements The land then
market, and viii readily command The highest
prices. These being sold on long time, with small an.
nusi payments will enable the better class Of actual SOL
tiers purchase them at fair prices and thus produce
sinking fund for the liquidation Of funded debt Sales
made In this subject TO the payment Of per
Of years win readily produce the following results
10000 acres embracing village sites valuable w.ssr
ZOO acre. STss c::: ~ 1ns sUd IN he
line, With smaller water powers and other o ..o
farming aad. &c. sss i isca
$4,000 acres farming land: At ssli srssssr '
-, distance Int from the road per acre 1850
l23 eco acres inferior lancs per acre, OLD, 600
These land: are among the mos. v.ina5: in he Wss
tern country and instead Of falling below, their value
win, beyond doubt greatly exceed the above estimate
ment Of the West can entertain doubt that when hess
lands sba have extended to tnem the facilities and I'd
price far above thss contained n This estinste But
object 70 show only that for the purposes OF this
company these lands win furnsh ample security for the
tenn Of roads 70 the Mississippi river. In addition 70 The
security thus provided proposed 70 supSradd len
upon the road ITSELF whereby not only sufficient but
superabundant security 10 provided.
The length Of road rom Madison 10 st. Croix above
ioi miles from which deduct So mlies which in CON-
with the other leaves 66 miles 10 complete the road
TO La Crosse this add 20 miles 70 be constructed from
Co umbus 70 the intersection with the La Crosse road,
gives . total Of 3ll miles 70 be constructed In the
pletion Of our system.
win be shout s2e 900 per mile but In order that
Inmates should be high enough 70 every possible
contingency We will Get down the cost a. $50 600 per
the road This would give grand total Of $40 2so 600
which sasss, 900 isss .has The value Of the land
IT, a anticipated, these lands shall command the sum
Of or upwards. win DO mere than sufficient
pay The Whole s q the Company = x be
Of The Company q this time ID - folows:-
First mortgage bonds East DIV. L. and Nil.
Naukio n ~ vsou,VVV
Milwaukee City bonds do. ACKNOWLEDGEMENTS. $4,000
Convertible per cont bonds, do. do. 500 900
Total. SCI, 900
frat mortgage Nil. and WAtsrtown BIDS,
nom Junction 10 watertswn. 49,. $4,000
Second mortgage do, from Junction 70
Columbus, Tor City bonds ........... 200, 600
Tnird mortgage do, from Junction 70 VS.
tcrtown, $3.50, 600, less go, 000.. :. lis, 600
WATERFOWL Oy bonds, eso, 900, les
30o0. Io,tW
Columbus and other toUn bonds $4,000,
7ss, 400