Demoine courier., 1856-04-03

recurring '"eH' ""'iou' SiVius any {
quivalent, Of $1,000, 600. These are the
incidental advantages which will flow TO
Wapello county by reason of the com
ple,ion of the B. s. NJ. r. X. to Ottum-
wa. What reason then can be offered
against aiding in the completion of this
road. at once. Surely none. But this is
n%o,lall. When they ge. The road i, will be
a paying road. The capital actually In
vested. will pay a, least IA per cent.
Upon this point !e, igures demonstrate
The fact.
The Gslena e. Chicago Union road is
l2l miles long. and during the las. year
her gross earnings were $2,272. G O.7sc.
Tine Chicago and Burlington road, 2lO
miles, (of which ours is a mere ex,en.
sion.) reports of her gross earnings for
the last year at Sl.22 5.s54,39. The
Chicago & Rock Island road ISL miles
in length. reports her gross earnings for
last year at 81. 1897. O2s, 95. These fig
ures are made, no, from conjeclures bu,
from the actual business of the roads.
They are official and authentic, | refer
TO The, earning, Of these roads, because
they are western roads. abou. which we
all know something, and with which we
may safely compare our road when COM
rle:ed, with entire confidence tina, the
figures liz reference TO ours will range
much higher, and much more favorably
for the company than do those to which
have just referred. For the correc.
ness Of the foregoing statement with re-
gard+ o the three Illinois roads ma med, |
refer the reacer 10 The "American Rail.
road Journal for March 9Th 1856, and
to a Review Of the Commerce Of Chi.
cago" published january ls5esbv d B.
Cooke & Co., Of Chicago.
Then refer TO the figures above. and
you will find SIP miles of railroad in our
sister ssase Of Illinois, earning in the
past year an aggregate sum of 81. $685..
494. IL or at the rate Of $9,424,79 per
uile. Can any man who is acquainted
with The country and business which will
b d.6aary to or road and that which
is tributary 10 those roads- above named,
doubt with reference to the road being a
paying ,road!.
Take these figuEss as a basis of caIcu-
la,ion with reference to the Burlington
and Ottum wa road-and l know no fair
er way to Approximate the business of the
latter road-aad what will they lead US
to? Our road is a very small fraction
less than rs miles in ~leng,h-sey Is
miles for the purpose of the calculation.
Then we have as the yearly earnings
on the lllinois>roads par4mile S9,424,.
70. Multiply this sum by the length of
the road, rs miles and we hsve the gross
earnings efour road s7O6, s59,25. From
this SUN should be deducted the expenses
attending the running and management
of the road, which range from As to Is
per cent of the gross earnings, say SIS
per cent; or 1888 ,772. SO, and. we have
as net. earnings $3ls.Os6,67. Now
suppose-ihe cost Of The road in running
order 10 be S2,25O,0o0s and no one claims
that the total cost will be over this sum.
The interest on this sum at 8 per cnt, the
mount Of interest agreed upon. IS $780,
600 per annum. Take this sum from the
net. earnings of. the road as above. $3Is,
0s6,3T, and we have the sun OF $685..
0s6,67, to be divided among the stock.
holderr which will pay a dividend on the
entire cost of the road of over 6 per cent.
Will might thu contractors agree to
lake the road for the first l3 months o,
It's existence, keep j. in good order and
pay the entire. interest. on the bonds. l,
will be seen by the above calculation that
they will nett for the l3 mon,ha they
have the road about $l5O.OOO.
Let me then say tina. any man who
will take The facts and figures which be
can find in the "American Railroad
Journar'-for March 1856; and the IRE
view of the commerce Of, Chicago for
January ls56-look over them. and &C
quaint himself with The relative condition
Of things as connected with our road and
those referred 10 in Illinois, and can then
doubt as to the propriety of voting in ia.
vor of The county Of Wapello taking an.
other $4,000 of stock in the B. e. Nj.
r. r. will be governed by wild iceas Of
profitable fnanciering. ST.
April I'd. SO.
SCHOOL MEETINe.-It is with exceed.
ting pleasure that we are enabled TO an
nOunce the very important, but too long