Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1861-03-09


from the third line Of tho second section
the words "one million" and insert the
words "four hundred thousand" and in
tho fourth line the word give" and insert
"two."
Mr.. Hill. l offer these amendments,
Mr. Speaker, for the purpose perfecting
this bill, and l think they should be
adopted for three very strong reasons
The first is, that l consider that the sum
named in the amendment is sufficient for
the completion of this road. My second
reason is, that it is the interest of this
Sunbury and Erie Railroad Company to
issue, or to be authorized to issue, no
mere bonds than are absolutely necessary
for the completion of the object My third
reason is, that such provision as this is
proper with regard to the security of the
State, and the safety of the claim which
the State now holds upon this company.
In taking up the report of the company,
find that of this road, there are lac
miles completed and 142 which remain
uncompleted, Of these 142 miles, we see
by the same report, that 27 miles are in
an ungraded condition
Now, desire to call attention to an
estimate which 1 have made. I have
taken the most liberal view that can be
taken upon the matter; and I have made
an estimate of the cost of the grading and
the laying of the track. 1 have taken my
date from a gentleman who stands high as
an engineer, and who is in the confidence
of this company. 1 have made the esti.
mate, in the most favorable light, believing
that it is more than will be necessary for
the completion of this road. I find, sir &,
that for the purpose of laying the track of
l42 miles, $500 per mile is considered a
large amount. II is certainly very fair
estimate per mile for the cost of laying the
track. BY calculation, it will be observed
that, according to this rate, it will take
$685. 900 for the purpose of laying the
track on that portion Of the ro ad on which
it is not now laid. OF the q miles vet
ungraded, the company inform us, (and
have been also so informed by gentlemen
who have travelled over this road and
know it well, that there is no considerable
expense for excavation or grading. 1t is
average estimate for grading, is s12 500
per mile. 1t is supposed by those who
are conversant with the subject, that the
grading will not cost that much Then,
sir, tho sum for grading this unfinished
part of the road will be 1887 500. The
total, for grading and laying the track Of
all the road on which track is not now
laid will be 81 ,26O, 500.
Now, if this is a fair estimate, (and if it
is not, it is open to be controverted or
denied if 81 ,26O 800 is sufficient for this
purpose, why in tho name of common
sense, why, in the name of justice, do this
company ask of us to authorize them to
issue bonds for five millions of dollars
! But, sir, this is not ALL The Company
in their last report have told us, that they
have balance of available funds to the
amount of s67o,4S9 Al. They also have,
in addition to that balance, seven per
cent, bonds and preferred debt script
amounting to 1915, 200, making in all in
their hands an amount which may be con-
verted into cash of 81 ,O45,6s9 Al, which
may be devoted to the completion of their
road Now, sir, add that 81 ,O45, 900 to
the S2,oOO,OOO which have proposed to
allow them by this amendment, and they
then have in their hands s3,O45, $50 al
for the purpose of completing the road
while, if my estimate be correct, land 1
challenge gentleman to controyert it, the
completion of the road-thc finishing of
the grading and the laying of the track
will amount to only 81 ,26O 500.
L am aware, sir, that the exposition of
figures may be considered matter of dry
detail; but have given this exposition
because figures do not and cannot lie, and
because l desire gentlemen to vote under
Standingly.
1t may be alleged there are certain
other Incidental expenses necessary for
the purpose of equipping the road. II
grant this to be SO but 1 say all the
additional expenses which may be consid-
cred necessary for the equipment of the
road and placing it in running order, can (
be met by the amount of funds which will |
be secured by my amendment. Indeed,
there will be surplus in their hands,
That surplus, have made, by my esti.
mate, to be nearly two millions of dollars
81 ,7s5,ls9.
No, Mr.. Speaker, if this argument is