The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-17

From the annual report of the directors of the
Boston and Maine Railroad we learn that its total
cost has been 22l GIL At, exceeding the capital
stock $94 696 95. The capital has been decreased
100000 during the year by the payment out of the
earnings of loan to that amount to the State and
also by the settlement and payment from the earn
ings Of the claim of Mr.. Hazen, amounting to
$55 000 The gross receipts of the road for the year
ending May 81 1858, were $770 s0l 81; expenses of
every kind, including renewals, depreciation and i'm
provements $465 300 43. Net earnings 1905 sol 81
two dividends of three per cent were paid, leaving
surplus Of $5e 1859 81 For the year ending May >
1857, the receipts were $905 ,9l4 "a, and the ex
penses $472l75 26. The net income OF 1857 was
therefore about $95 900 greater than in 1853. The
expenses reduced in 1853 about $40 600, there
being saving in the wood department Of s. 900,
repairs of road $1,000, &c.
The Commissioners of the General Land Office
recently addressed letter to Governor Randall, of
Wisconsin, enclosing one received by the department
from N. p Stanton, President of the Milwaukee and
La Crosse road, in which letter Mr.. Stanton asks
the department to confirm to the company the title
of 307 200 acres, for which it has Governor Bash
fords certificate which Governor Randall refuses to
do. Mr. Stanton adds" The course of the Governor
views l have had with him (Gov. r. during the past
few months he has furnished, I may say, no reason
for it," On these statements of the letter of Mr.
Stanton, Commissioner Hendricks requests that the
Governor will make known at length to the depart
ment his objections to proceeding with the adjustment
of the grant" The Governors reply, which covers
over two columns of the Madison State Journal con-
tains the following
fDe act Of Congress did not fix any point Of
ment for estimating and selecting the lands granted by
Congress- but the act Of the Legislature dxed at Msdi
son, and the first hundred and twensy sections included
within twenty continuous miles, 70 be selected within
the first twenty miles and the hunired and twenty
sections for the first twenty mes completed making two
hundred and forty sections the rst twenty continuous
miles completed and 70 be selected within the frot twenty
miles Of raid road and within six sections width each
the read II the az Of the Legislature had simply dxei
Madison the POM of commencement OF ssd road for
the purpose Of estimating the lan1s granted might
authorize different construction II thai the ouly
ground for Construction But Msdison vas hxs1
the point OF commencement OF said rosd only
for The purpose OF estimating, but also for toe pur
gress. Ny predecessor. in my Judgment, gave his
certificate errspeons,y. submit that this is rot alter
Of difficulty between the United States aud railroad
papy, but matter between this State and the Ia Crosse
N~ aukie Railroad Company to he settled and deter
mined by the authorities and courts Of this Safe. The
general government deals with the State through Us
properly constituted auihores In regard 70 the grant
the State, 10 the government stands the light OF
trustee The State bound the lands properly dis
possd S Sy the my ~hc ate S,nd
Crosse Company must settle this matter between them
selves, and by the act OF legislature the deeds
ties 10 the company, fast Is entitlei 10 them The
policy adopted IN the Vest for building railroads. been
had Building roads TO make business, instead Of 10
tenn Directors grow rich, the roads nsush, and stock
holders suffer