The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-04-16
sOuTHERN PACIFIC RAILROAD.

We have been favored with some facts and
statistics regarding the progress and pros
poets Of this road its magnificent land dona-
zion from the State of Texas and the ulti-
mate large profits its now assured completion
will yield to the stockholders, which we tS a.,
pleasure in spreading before the public. we
doubt not the data furnished US Is reiSoie'
for it comes from a reliable source. O
The President of the company, Geo D
Ierger, Esq, has but recently reeu'nsT tn no
the line of the road of the company ih leHaS'
whittier he proceeded on tour oil lnVestlga-
t;on He reports a very satisfactory condl'
t;on of afFairs The progress oil the road IS
:. mpch ns could be reasonably desired; and
a. foeI;no among prominent and substantial
.;,i,ans h sminestiy favorable. Many of the
S;g;.nIties that have embarrassed this mighty
work-the only one at all feasible to open
railroad communication between the Atlantic
and Pacife-have disappeared before the ac-
tive labors Of its immediate friends, until the
most serious obstacles may be looked upon ms
surmounted. Further, we are informed that
the road is becoming very popular in our sis
ter State, and that it now receives the strong
support Of the strongest and most substantial
people there, who are prepared to extend to
Il the fullest aid their time, influence and
means will enable them to bestow.
An office of the company will, we under
stand, be shortly established at Marshall,
Texas. The annual election of Directors, by
the stockholders, will be held ia the city Of
New Orleans on the first Monday in June
next, at which time a full report will be made
which, we have good reason to believe, will
satisfy the stockholders, the advocates of the
enterprise, and the State of Texas.
The lands granted to this company are
valuable aud muniicent beyond parallel, a
fact which seems not to be duly impressed
upon the public mind. They consist Of sight
millions OF acres of the richest and most fer
tile soil on the surface of the globe, unsur-
passed in climate and production. When
this vast domain, belonging to the company,
shall be put under cultivation, as it will be
as soon as the progress of the road enables
its products to reach market, its productive
capacity will become stnpendous. All it
requires to become the wealthiest and heavi
est producing section on earth is a railroad
and population, and the railroad it will
have in few short years, and population will
flow IN along with the rilroad. OF this there
can be no question. And. of course, the
price Of the company's land will be enhanced
sorrespondingly.
Speaking of these lands and their pros
psctive value, let us assume, by way of Illus
tration, the Illinois Central Railroad as a
standard by which to make orr calculations,
and then glance at the mighty results to be
realized by the stockholders Of the Southern
Pacific Railroad Company, from the compile
ton Of the work-results of infinite magni
tude flowing from comparatively trifling
investment.
Basing our figures upon the statistics of
the great Northern road referred to, which
are founded upon realities, we think we can
that tho land m tho paaiHn
Railroad are superior to those granted the
Illinois road. The Illinois Central Railroad
cost about $4,000 per mile. Its lands, on
sale, averaged about SIS per acre, not specu-
lators, but to actual settlers. Now, let us
apply these figures to the Southern Pacific
Railroad, and for a moment, contemplate the
results. We opine they will prove astound
ing to men who have not duly investigated
the matter. Eight hundred miles of road, il
10 estimated, will cost the Pacific Company
t24,000,000; but, to get to the maximum of
cost, let us state it at $40, 900 per mile. The
cost, then, will be S32,OOO,O0O. Now, esti
mate Che land donation of Texas to this en-.
terprise according to the values realized in
Illinois---and the lands are infinitely more
productive and valuable--and we have the
enormous sum of 1920, 100000 as the gross
receipts from the sales thereof. True, these
Ttsulbb are Hob tAptCbtu W Ot TeullLtu WltnlH
day or a year. but if we look at what has
been achieved elsewhere, we may approx.
mate correct estimate. Then deduct the
cost Of the road, say S32,000,000, and the
company will possess the road completed to
E Paso, eight hundred miles. with land or
monied surplus of SsS,00O,000.
There appears to be misunderstanding in
regard TO the issuance of stock. 1t is the in
terest Of the stockholders and the company
to issue as little as possibe-the smaller the
amount, the larger the dividends-and the
policy adopted is to raise the necessary means
by the issue of the bonds of the company,
secured by mortgage upon the road and lands,
the lands. to be sold only for the bonds,
through which, process it is expected the
bonds will soon be absorbed, and the road
freed from debt, leaving the company with
something like the enormous surplus above
mentioned. Now. who will own this surplus,
who will own this road, who will exclusively
realize the immense profits expected to ac
cruel Why the stockholders, and nobody
but the stockholders. II any one doubts, let
him 20 10 figuring at once, and then the
doubts will be removed.
We have founded our estimates upon re.
suits known TO have flown from similar en-
terprise in a Northern State, from a land
donation, and think them worthy consdera.
tion, in connection with the stupendous Texas
grant to the Southern Pacific Railroad, which
we view as of ten fold more value. Hence
we regard investments in the stock, at the
present low rates, as good to be laid away
and realized upon in due season-in a few
years
Occasionally we hear cries of ''moonshine'
and 'humbug" raised against this company.
These sentiments are evidently founded in
misconception and error. Surely 10. $40 acres
of land to the mile, and a loan of $4,000 in
cash per mile, as completed, from the State of
Texas, all Of which is absolutely guaran-
teed, is not "moonshine" nor does the ire.
meudous donation of 5000, 900 acres of splen.
did Territory SAVIOR much of "humbug."
With the submission Of these remarks. we
here take leave of the subject for the present.
~ o. Crescent, april 2.
GREAT LUCK $50, 900 PRIzE SOLD IN SAvAN.
SAB.-lt appears there are other lotteries be.
sides matrimony, which prove essentially TO