Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-07-12
SOUTHERN PACIFIC RAILROAD.


1t will be seen from an advertisement in another
column, that the books for subscription this place
will be finally closed the 1st day of August next
as the company have made arrangements for having
all the stock taken, not otherwise disposed of before
that time. The object and desire of the compan y,
in opening the books in a number of the principal
cities of the Union, has been to have the sockhold
ers as much distributed possible the ooun-
try, and not from any difficulty in getting it all
taken
The peculiar advantages of this enterprise were
given some time since through our paper, in letter
or publication from its President, Mr. Yerger. Re-
ferring to the first annual report of the Directors
we find that they have run parallel between the
advantages of the Southern Pacific and Illinois
Central roads. The latter enterprise, it will be re-
membered, has been of immense profit to the par
ties concerned and yet will be by the follow
ing extract that the inducement which it held out
to capitalists were by equal to the induce
ments offered by the Southern Pacific:
''The Illinois Central received a grant of $40
acres of land to the mile. The Southern Pacific
receives grant of 10, 240 per mile The Illi-
nOis Central is required to pay 20 the State tax of
Z per cent. on the gross earnings of the road,
which is nearly equal to IA per cent on its net
earnings, which is large income for any railroad
to make.
1.-The Southern Pacific pays no tax on its income
to the State of Texas but it receives from the State
loan of 200 per mile, at six per cent interest
for tenyears for every mile of railroad finished and
put in running order fast sections of ten miles
shall be thus completed.
''The total amount of land to which the Illinois
Central Railroad became entitled, was 1856. 900
acres for 704 miles of road. The Southern Pacific
l. IL
but 783 miles in length, as surveyed-to S,O17, 800
acres.
1.-The report of the Illinois Central Railroad Com
pany dated March 18th, 1856, page 8, states that
SO, 446 Al, had then been expended on 7O4
miles of their road, which shsws average cost of
SOS, $40 81 per mile. The estimated cost of the
Southern Parifc Railroad for 783 miles is but Sl4,-
63l, l3o ShOwinga difference in favor of the latter
of s. 743 sos.
THE next step would be to estimate the value of
the lO,24O acres per mile of Texas land granted to
the Southern Pacific Railroad Company, as COM
pared with the 3,S40 of Illinois land granted
to the Illinois Central Railroad Company There
cannot be doubt on the mind of any man who is
well informed that were the grants equal in guam
tity, the Texes grant would be much the most vau-
able per acre. 1t is estimated that the Illinois
Company will pay for the entire construction of
their work with funds received from the sales of
their lands, and have large surplus. If they can
do this, with their comparatively small grant, what
may not the Southern Pacific Railroad Company
expect to accomplish"
GREAT RALLY OF THE DEMOCRACY OF SUM-
NER COUNTY.
There will be grand rally of the Democracy of
Sumner county, at
FOUNTAIN HEAD, JULY so.
A banner will be presented to the indomitablc
Democracy of that district, and speeches will be
made by
GOV. ANDREW JOHNSON,
HON. ANDREW EWING,
GEN. S. R. ANDERSON,
and others.
The Democracy of Sumner and the adjoining
counties are invited to be present.
Ia Hon. W. NJ. Barksdale has been nominated
by the Democracy for reelection 10 Congress from
the third district, Mississippi