The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-07-19

computation that should prove 70 be strictly COM O.
nant with the actual condition OF things error can only
be attributed 10 the nexcusable absence al Authorization
which IL The duty and obligation company 70
have contributed for their direction an eminent
While, then, the state would be pref g By limiting
Its claim 10 the rifng per centage alo On the aggre
gate amount OF treasure contained IN tn counaoie re-
ceipts possession of the Commissioners II might be
doing Injustice 10 the company 70 insist tai ng the
per trip Of that aggref ate, comp e the amount
from August 1854 and charging per aud interest
up the time Of the abolition Of It's charter But 10
sumo that It's actual and profitable business OF specie
transportation had its origin with the line steam
in 1858, seems the convictions OF the Commission
ers to accord with fairness and to establish the basis
equitable adjustment Of the respective rights OF
The OF So, ls,es2, the aggregate of specie
traction eleven millions Of dollars only per annam-co
sdering the amount OF treasure exported Cali
ornia during that period and the success which in other
otherwise than approximation 10 the actual
transported. This es innate, as already stated, is
based upon the ascertned average per trio OF the thirty
three trips from November, 1854, to March, 1855.
For transportation of treasure the company
ed half per cent the dollar which rates
al the average OF $issOl3 per trip, receipts ol
he company per steamer on It's specie account
10 81 445, or 81 sec month.
Independent OF the treasure there large amount
of freight conveyed the route, which
nconsderrbe of revenue TO the company. From
th atement OF Mr. Gotte the rasp ration contra actor
the total amount Of freight arriving by the steamships
the company and the stnrlus from January
1854, usye to January 1855, vas III ,zo3 pounds
or a monthly average Of So lIO pounds For the year
1855 amounted TO OBS 332 pounds, or an avsrag u
S. 500 pounds per month. Taking the average OF both
years 50 397 pounds would be the Of monthly
transportation. The weight Of he treasure would not
equal the number OF - 900 pounds, but, assuming the
smallest average and estimating the weight Of the trea
sure at the high nre OF 70 oe6 pounds there would
still remain a balance Of freight per month OF 90 90
po d. which NJ the rate o 10 cents per pound charged
by the company would AID 20 Is monthly receipts the
sum Of 81, 600
freight and passengers arriving By the steamships, but
there was also consan. aocumuistion Of receipts from
the internal travel Of the country, and the Transportation
Of way freight The agency onlces nave preserved 10
books, records, memoranda from which might BE-
teduced the probable amount OF revenue derived from
these sources The agents san Juan del sur Virgin
BAY and Castillo give evidence OF receipts at
times for way freight and passage, bat have pre-
served no Official data upon which to fix aa est
mate Of the amount The testimony of A. Ruggies, who
agent CASTILLO from August 1851, TO December
1862 shows that the expenses Of that agency we're more
than betrayed by received from this branch OF
the business company He states that from 81 800
TO 400 at time have been paid TO him for way freight
aud passage during the period Of his agency at that sta
ton. From November, 1851 to July 1852, Mr. John r.
boy the general agent for the route, and kept his
office al Virgin Bay.
Id relation 10 tie internal business transacted during
his agency, Mr. Cyrenus c. Fitzgerald testines-
recoect distinctly in 1851 the agent At Virgin Bay
saying and showing me from the companys books that
he had received enough money for baggage and
money tickets San Juan del Norte TO pay his
penscs upon the sthmus This statement applies to the
entire period Of Doyes agency Mr.. Doyle the ge
neral and all the other agents were subject 10 his
direction and the expenses generally were paid from the
Office at Virgin Bay
Conserving the same period, Mr.. Henry Gottel says
From the 9th Of November 1851, to March l9, 1852,
was confidential OF Mr. Doyle general agent of
the Transit Company, stationed Virgin Bay; during
the time ] was clerk under Doyle, no drafts were
were sufficient expenses and pay for such i'm
provements were then going on: From the
company. il is evident that frsm August, 1851, 10
November, 1861 period Of more than one year
the company IS Justly entitled 70 NO rom ns
route for the expenses OF the line The way
freight and have been sufficient not only 70 defray
the dsburse nents for keeping the line IN regu
operation but enough also 10 pay tor the improvements
that progressing during that period Ihis reveal
ton Of the OF the comfanys business in those
early years OF i,s existence fully and uses
the basis Of computation hitherto adopted by the Commis
sioners Indeed turing whole existence Of the
pany large pronts have been derived from the internal
travel trade Of the country, but wholly impracti-
cable for the Commissioner by reason o. ne INDEFINITE
satisfactory testimony In relation thereto to es
mate the amount with any reasonable approximfuon 10
accuracy.
ment Of the STATE 10 exclude from their
calculation Of profits the income obtained from this pro-
The number OF passengers transported monthly
the lsthmus from the Two oceans the Commissioners
have estimated al coo and the amount Of freight es
1851 inclusive The monthly amount OF treasure Is esti
mated At fsss ol3 S. ,mmencing with April 1898 and
ending with the Let Of March, 1850 The gross receipts
Of the company per month from August 1851, to April
1853 rating passengers at S35 per bead and freight
a, is cents per pound amount SIS 0o0 ~ which from
April 1853 be added the half pr cent upon tho
monthly amount OF specie transportation
In order then, definitely TO arrive at the net profits Of
the contrary upon the bases established aud ascertain
the due 10 the state, Is only necessary 10 e
tablish the monthly expenses for transporting
passengers and freight the country from 10
In the prosecution Of this important branch "
their inquiry the Commissioners have succeeded In Oh
tanning very accurate Information The statement ana
the Transit Company stationed al Puna Arenas shows
profgacy Of expenditure incompatible with The idea Of
proitless enterprise.
There are many items or Disbursements however, re-
lang the construction Ct wharves and PIERS and ths
repairs OF roads and other kindred improvement Tor
which expei dtures the government not entitled - 10
charged All works Of this description we're included IN
the original obligation Of the company; and would be
little reasonable 10 charge the state with tie building
Of wharf pier would be the construction 81 any
rorOn Of the canal railroad carnage roai which,
BY the terms OF the charter was imposed upon ae com.
pany The complete establishment or perfection % the
route contemplated by the grant 70 be elected ny
the recipients Of The benefit out q their own capita,
without any deduction therefor from the interest o. TIC
the adjustment Of OUTLAWS and profits Ia prose-
cutting these works the company I only performing
duty which should have accomplished al the beglnns
Of Is enterprise IN consequence Of this incomplete c0nd
ton a the rUu;ehrough the fault ofthe company alone
numerous agcn's employees surerlnendeht an a0grers
the nccesary improvements perfected the necessity II
this proiigal amount 81 expenditure would have been
wholly obviscd 70 allow the company credit 90 these
dbusemcrts world ne Talpate nidst;ce y the state
cortsri the meaning aud Intention ~ t1e charter
by which their mutual rights arc limited aaa defined.
The monthly outlay for Al the EXPENSES Of the route Il
estimated BY CAPTAIN scott - or aeout $1,000 The A.
ea expenses, how ever, tor transporting ifeght aad
passengers from 20 OCEAN and eompenzaing ues 81
sary ard employees the business q trauspora
ton alone fats short III that amount By nearly $1,000.
1hs COMPENSATION allowed 20 the agents has been
dcscd BY the Commissioners 70 the fn extent % toe
tberaly II The company. Considering the number *
secretafies clerks and employe4to whom, also have
been pad large saaresthai have been retained IN TIE
employ service q The company, caunoi BIT be 81
mitted that he reC0mpcnse ~ tie principal agents has
been ony liberal but characterized BY an exhibit IN
q even mupGcent prod raty. some. AMI indeed many,
Of the expenses which have been allowed ~ the Com
missioner ought not a fair aud equitable sense o. ~
charged against the government they have allowed
them, however for the reason that they unwilling o.
from the company The ttrciei iuhiment Of the
conditions nominated IN the bond Y
The necessary legit nate monthly disbursements Tor
transporting frclsbt and passengers across the
route, as made up by the Commissioners from the
testimony Of Captain scott amount o. s10,05s o.;
hut Tor the convenience u round NUMBER
they have estimated them al 2l.0oO dollars. The