Nashville daily patriot. [volume] (Nashville, Tenn.) 1855-1857, 1856-02-05


Total cost, track and equipment pr m $4,000 10
The above includes nothing for Sidings and turn
out tracks, which should average about one tenth
the length of main track nd be distributed at
proper intervals TO enable the business of the
road to be carried on with certainty, safety and
economy. A lighter rail than is allowed in the
main track be adyantageously used for SiGings,
for light rail OF SO tons per mile would be more
capable of sustaining the wear in that position than
one of 100 tons in the main track
The cost of the other items would be the same
except that no frogs and switches would be needed
hence mile of Sidlings would cost as follows
80 tons Rail at S73 81 per ton, SIS, eS3 20
Spikes, Chairs, Laying Track, Hauling &c. l,0S2 is
Cost of one mile of Sidings, Sc, 965 35
The State aid is granted to railroad companies to
accomplish a specific object which is to furnish the
iron and equ pments and lay the track, and ia con
sidesation of the amount advanced, the State has
a first mortgage on the road, thereby securing
herself before all other creditors.
This first mortgage effectually prevents the COM
panies from negotiating any securities OF their own,
since no capitalist will invest his money in public
Improvement with prior mort gage upon it to any
that he can obtain-but as the State assumes to do
certain things it seems but reasonable and just that
she should do ALL or, after efectuay and completes
ly securing herself from loss, TO leave the railroad
companies In condition to act for themselves
To show the practical working of the present law
we will suppose a railroad TO be built 100 miles
long, and State bonds to be issued as now provided.
The account would stand thus:
100 miles track and equipment at
$3.50 10 per mile, S1300,0l5 90
10 miles s.dings and turnouts at
1896 So per mile, 60, e6s so
Total cost. . 81 s69 66S so
Deduct State Loan 100 miles at
$4,000, $l,000000 90
Leaving deficiency of S69, 66S so
Here is a large that the Company have no
means of raising without either increasing their
capital stock by that amount, which would in nine
out of ten be impossble-or issuing second
mortgage bonds, that could not be made to realize
more than fifty per cent. OF their value thus SUD-
jecting the company to ruinous sacriice;-or by
creating large floating debt.
Were the State to step forward and furnish all
the means necessary to iron and equip the road,
was contemplated by the original Internal I'm
provement Act, instead of increasing her risk, it
would in reality diminish it, for a road fully
equipped ard free from pressing debts, is certainly
more secure investment than one harrassed by its
liabilities, and with equipment too meagre TO be
operated promptly and economically. The estimate
given ab, We is Tor an equipment enough to do a
small average business only, and not sufficient to
Meet the demands of very heavy traffic From
the report of the State Engineer Of. New York Tor
1854 il appears that the average cost per mile in
that State, was as follows:
For Locomotives and fixtures, s2.7s2 SO
I" Cars. S,lS6 81
" Station Buildings, 1870 81
Total cost Of equipment per mile, $50 81
or 81, 049 81 per mile greater than the estimate
above.
Hence, to place the track and equipment of
Tennessee roads in condition equal To the average
Of those in New York, would require SIC, ss5 as
per mile.
Very respectfully,
Your obedient servant
A. A. ANDERSON,
Engineer and Superintendent T. A. r. r.