The prairie news. [volume] (Okolona, Miss.) 1851-1875, 1859-01-06

equipments OF every KIM, cOSt tSce lUtll
anual report,) four million eight hundred
and ninety-fve thousand three hundred
and forty-nine dollars, ($4,895, ,349.)-
The net earnings of this part of the road,
estimating December at the income of
November,) will be three hundred and
eighty thousand dollars 3SO,OO0) for
the present year. This it will be seen
is over seven and half az per cent.
on the entire cost of this part of the road,
including rolling stock, machine shops
and equipments of every kind. This is
before the road has any through connec-
tions.
While on other roads the largest, and
in some cases the chief income is from
passengers, this road receives nothing
beyond . local travel. But notwith-
standing these disadvantages, as the
country settles up and is being develop
ed, the income of the road is rapidly in
creasing.
The receipts for September of last
year were s43,211 76; for the same
month this year $56,553 rs; for Octo-
Der, 1s57,Ss4,41O64; October, 1858,
$1O5,OS7 20. In November of last year,
S76,615 05; the corresponding month in
1853, $125,764 63, showing an increase
for the three months of $93,166 40.
In the foregoing statement the income
of the southern portion of the road alone
has been referred to. Lately eighty-sevs
en- ISL miles at the northern end has
been finished and put in running order.
The Chief Engineer and General Super
intendent thinks this part of the road will
earn as much as an average per mile of
the south end. If so, this will hereafter
add largely to our income. The city of
Paducah (Ky.) hasl ately voted tax Of
one hundred and fifty thousand $780,
00O) dollars to finish the branch TO that
place. This insures its early completion.
Every indication is that the Iron Noun
tain Road from st. Louis will meet our
road at Kentuckey City. With these
powerful feeders completed, the north
end of the road will be the outlet of an
immense trade and travel.
And when our road is finished and the
mighty work accomplished of connecting
the mouth of the Ohio with the Gulf at
Mobile, the highest expectations of the
friends of this great enterprise will be
fully met.
But to return to eacts and figures
! have shown that the present income
of the south end of the road alone yields
net revenue, after paying all expenses,
of S3SO,00O. This is, of itself, enough
to cover the interest on the entire six
millions of dollars of sterling mortgage
bonds, even if they were all issued
And now that eighty-seyen miles at the
north end are in operation, the income
will far exceed our interest account
With this certain and unquestionable
power to meet our interest account from
the income of our road, even in its un-
finished state, and the certainty that in
come will greatly increase as the road
progresses, can any one doubt the perfect
security Of these bondsl
1t is remarkable fact that the actual
income of the Mobile and Ohio Railroad
has fully equalled the estimate made of
its probable earnings when the enterprise
was first brought before the public. This
cannot be said of any other road ofwhich
l have any knowledge. 4
Having established. as / think, the
unquestionable safety and soundness of
the securities referred to | will now re-
fer to the present wants Of the Compa-
ny.
A contract has been entered into for
all the rails and fastenings necessary to
complete the entire road. including the
Columbus, Mississippi branch.
The contract is, to pay one half in our
sterling mortgage bonds and the other
half in cash. For this purpose, and to
pay freights and duties and for laying
down the iron from the present terminus,
West Point, to the Tennessee line, will
require about seven hundred thousand
dollars (s7oO,00o.)
Since the contract was made rails and
fastenings have advanced in price and
dTt lfhtfy " list thuCll HiguCit anu III
will be to the interest of the vendor to
get clear of his contract. We therefore
desire to sell of our bonds an amount
sufficient to carry but this contract. We
offer SOUND, sale and unquestionably
good investment.
MILTON BRowN, President,
Mobile and Ohio r. Il. Co.
The undersigned have carefully exam
ined ieto the present condition Of the Mo
bile and Ohio Railroad Company, and
believe the statements contained in the
foregoing paper to be correct and we
therefore consider that the bonds referred
to are entitled to a high rank among
railroad securities.
H. A. SCHROEDER,
CHAs. WALSH,
G. ID. DicKEY.
Mohile 18th neeember, 1859.