American Lancaster gazette. [volume] (Lancaster, Ohio) 1855-1860, 1859-04-14

isssed. r4. ft-.l.a
We have made some examination ofpast
returns from these works, to ascertain If
this prs mium is correctly apportieBed
among the different sections, and Tie in
ducemen's they oier it probable profits 70
those who may wish 10 bid /. 4, fs,a. 4 u
Section Ills the Miami aud Erie annals.
which is not to be rented for less than S4o.-
600. The gross reee ipts en- this canal last
year were Sl58, ,655 The contract price,
for keeping inIepairwas 10000. This
was supposed an extravagant price, as
proposals at,$io5, 900 were made by EAR
ties equsily responsible. Assuming this
to be sfpirprice, and the receipts OF last
yea ap average, rent Of $4,000 would
leave the contractors profit of SIS, ,752.-
Taking the contract price and the same
receipts as a basis, would leave margin
OF S3l, 245 the other way, Taking the
lowest responsible bids and the average
receipts ofths last four years as basis,
AMI this rent would leave the lessees a
profit Of S4l, ,346 year. The contract
price would leave a margin the other way
OF $3, ,653 year. On this section the les.
sees are required TO deposit with the Au-
lditor of State security in the bonds Of the
State or United States to the amount Of
$3.50, 200 for the faithful performance Of
the scontract,, or in personal and real estate
security satisfactory TO the board and at
any time they may require.
Section q. isthe Muskingum Improve
ment,. Ohio Canal, Hooking Canal ald the
Walh nding Canal rhe mihium, rent is
$4,000. Gross receipts last year were
$l49, 83l. The contract prices for keep
! ing these canals in repair amc nted to $l22,-
$3.50. This basis and the rent would leave
malgin against the lessee OF s l2, ,004.--
Responsible bids were otfsredfo these
contracts at StO5, 1888. This basis would
leave the essees prefit Of $29. .633,
"a year. The ayerage gross receipts
on these canals for the last fouryeaIs
were s90e. 1873. Taxing this as a-cr teri
on, the ecoutract price and rent would leave
profit Of $64, ,299; or at tho lowest re-
sponsible bids offered for this work, plof-
il of $8L93l,a year. Securities to the
amount of $3.50, 600 as above stated, are
to be depositedior the faithful performance
Of the contracts on this section. -.--s'
Section 8, is the Maumee aud Western
Reserve Road. The minimum rent is $400.
The gross receipts last year were $5.845.
The contract price for keering this in re-
pair was $5.499. This, with the rent.
would obout equal tbe contract price. A
bid considered responsible Of $4, 400, was
put in for this work. This would leave
profit of 1857. The last years receipts
are probably fair average. The expense
Of collecting toll on this road is much lar
i ger in proportion to ihe receipis than on
tie canals. Last yearit was 1899
This, however may be much reduced when
Igats keepers, are not required to have votes
land political quail ications. The security
ito be depos,ieffor performing the contract
on this section is $4,000.
] Ten per cent, Of alltolls collected en- all
| The sections is to be deposited with the Au-
lditor Of State monthly as additional secu-
lrity, TO be returned at the end Of the year
on the certificate Of, the board Of public
works. that the lessees have faithfully
performed the work.
The bill seems to have an abundance oi
stringent provisions. Opinions will doubt.
less vary much as to tbe probability Of the
canals being leased on the teims and
showing we have made. The stringent
n provisions other than we have mentioned,
we do not regard as serious obstacles tc
the letting = sr,5f Il is
i But there is another and a serious con
|sideratlon in the case The act provides
/ that the max imum rate Of tolls charged
!. shall mot exceed che published toll.
(, sheet Of 1859. This was objected 10 as
) indefinite and as what Senators, knew
nothing about when the bill was reported
for the final action Of the Senate; but as j
had to be put through at one midnigh
session there was 70 time 10 get any in
formation on the subject.
1t may not be generally understood tina
q the tolls last year were reduced to wha
, were regarded as very low point 10 orde
to compete with the ruinous rates at whiol
railroads are carrying freight. We hay,
I texamined the toll sheets OF 1858 and 1876!
/. and compared the rates on the principa
!. articles transported on the canals. o.
!, fifty OF these which comprise the mos
Important Items, the reduction by the rat
: of 1859 is fifty per cent. Selecting
y smaller number Of the most important ar
= ticleS. and The reduction is still greater.
4 This was certainly grave mistake OF
the partot the legislature. The, only ne
cessiIy for any limitation at sll was to pre-
r vent imposition at those places on the ca
r nal where there is no railroad competition
9 That competition weuld force the lessee
q to maintain low tolls; but rate wbicl
o the board OF public works had just adopted
j. in order to meet a competition, that if KEEP
up must prove ruinous 10 The railroad in
: terest, is fixed as the maximum limit 70
q the lessees for five years. One dollar
i. ton would only be a fair rate of toll fror
d Lake TO Riyer;and it is not yet fully show
Is that railroads can compete in carryin
q freight even at this rate, after their tinau
d cial lhifts have been exhausted. but 10 car
elIy on this desperate competition, th
I board have reduced the tolls, to from fol-
,e ty to fifty cents ton on the most impor
d tant articles. &ai 1ta
le1 This. the legislature has fixed as lh
maximum rate thatths lessees may charg
for FIVE years. gst
.S Their idea seems to have been 10 secur
3 the benefits of low lolls.5 But they hay