, 1862-01-31

RARtA VI lue 1ulu l1ak., ILL [t11fu u kAc Nt4lel1
and Chicago Union, tile Chicago, Iowa and
Nebraska, and the Cedar Rapids and Missouri
River roade. The writer makes some good
suggestions, and gives some good adyice, to
which it would be wise for the three road COM
papics as well us for our city itself, to listen.
Hcis right in pressing upon all the i'm
portance and even necessity Of some arrange
mcnt between these parties in interest that
will secure tue concentrated energies Of all in
the extension Of the line to the Des 1loines
and the Missouri rivers at the earliest posi-
bic day, and he does this with an Intelligent
comprehension Of the great practical benefits
involved in tile result. But the writer is proba-
bly, mistaken in supposing that these roads do
not now work in harmony with each other,
under arrangements satisfactory to both, md
also in the statement that "the Directors Of
the Nebraska road require an arrangement
based on its. cost, while it. is palpab1e to all
men that it is not worth anything like cost.'
think that if he will enquire Of the man
ayers Of these roads he will find the most
friendly relations existing between them all,
and hc will also find that the Nebraska Com
papy makes no such demand Of the Gelena
Company, but if it is inquired Of what price it
can be bought for, its Directors may answer
sat cost.' Nor would they be likely to sell
for less, however "palpab1e it may be to Ill
men that it is not worth cost.''
lit is not worth cost this year, they believe
that the business which the Cedar Rapids ex-
tension, 70 miles to Marsla1ltown will add to
their present earnings, will make it worth
cost; but whatever they believe, they do not
demand that any interest shall purchase their
| road at cost, or any other price.
The managing officers Of all these roads
have doubtless about the same opinion Of the
| benefits which each and all, and our city also,
would derive from union of the material
| support Of all in working out the extension
Of the lines to the Des Moines and the Mis-
souri rivers, constituting through line, direct
| " west from this city to Nebraska. Our citi-
zcns cannot be ignorant tAat such an avenue
| would secure to us the advantage Of more
commanding central position between the
Atlantic and Pacific, and the trade aud travel
| OF central Iowa, and all Of the goldfclds of
| the Rocky Mountains. The Ga1ena and CHI
eago Union road is already beginning to en-
| joy the benefits Of til. extension Of its line
that las been made into Iowa,
I am told that the business earnings Of the
| Nebraska road the past year have been over
s2G0, 600 over its own road, and that the
business Of the Cedar Rapids road, Just
completed forty miles, and thirty more
graded to be laid down in the spring,
will next year add 100000 more, max
ing tic aggregate earnings Of the road
ss0o, COO the coming year. The earnings OF
this same business over the Galena road, both
ways, has been heretofore about The same IS
on the Nebraska, and will probably average as
much in time to conc. It is now receiving
about $500, 600 per year, and the extension OF
the line TO Marsballto 1n next spring Will add
another s1oo, 900 per year, which will annually
increase by the growth Of the country 20 to "a
per cent, besides the increase Of further e1,
tensions.
II will be seen By the above that the State
Of Iowa is so tributary to this city, that the Ga
lena and Chicago Union receives as mnch in.
come from these extension roads, Without Q
dollars Investment, as those Iowa companies
receive in return for an expenditure of three
millions Of dollars, which the $50 miles from
Clinton to Marsh;lltown will cost when fully
completed. Tic Galena company O.
course, desires to retain this $500, ,0o(
per annu1n, as she is now doing, AMI
this is Ill very well, and the Nebraska compa.
NJ has no objections but they both requir,
the protection Of their income and dividends
the 800, 900 more which the completion Of III,
Cedar Rapids road to Marshalltown will glvs
81 them, and&Ae additional extension to the De:
f@aoines lid the Missouri, which WILL as many
believe, advance the stock Of both to par; :nl
here is the only conflict as I understand he
tween them, and probably the one which til,
article mentioned meant to refer.
The Galena company desires the benefits o
,, this extension in perpctuity, but only at th'
!. tue expense Of !he Nebraska company, on tn
the business Of that road but the owner
Of the Nebraska road, being cithc
I unwilling or unable to work through
J. this extension single handed, desire the mate
4 rial cooperation and support Of the Galcn
Company, and Of this city also, which, in aldi
: tion to its Own aid, will make it light and e;.s
C for all, and if that company would now com
into tllis united effort with the Nebraska, til
work Of extension Of the line would progres
to the Missouri without pause.
If the Galena Company declines to participat
in this cfort5 or neglects to avail itself of til
l. opportunity, il is understood that other pal
r ties in interest stand ready to take such an ir
!. tcrest rs will probably secure the progress {
the work without the aid Of the Galena Cor
0 pany. The officers Of the Nebraska Company
= in the exercise Of their trust, will not feel
l. liberty to decline the aid Of any interest b
:, which it is possible they may secure til
= b.nefts Of this extension to their roat
n and by which alone they expect to make the
d road worththe cost. The officers Of tue Gall
r na Company may feel it their duty to decliu
the support Of this extension or may not b1
g if they do, they surely cannot complai
s that the Nebraska Company have demande
n any unjust or eSorbitant terms as the cond
y tion upon which they may. enjoy forever IL
II control of the business Of ali these weste1
lc roads, however far extended.
II Those who furnish the means Of construc
ing TIC extension, will Of course control i
business, and it will not be the fault Of ii
= troll of this whole business goes beyond IL
% reach Of the Galcna Co. or their own, on
S way to Chicago. The Ga1ena Company In,
n no right to expect to enjoy this large and i
. creasing income forever, without insisting
e produce it. But the author Of the article r
c. 1erTed to, makes ono declaration which
4 | think could never have come from the sen:
~ bic and sagacious managers Of the Ga1cna roa
u viz: That if the Nebraska Company shou
t. make connections with other roads than Il
"a and connecting road in Iowa would lie 60
- structcd to the ruin Of I'LL compe
{" tors. This is bold and rash stat
IS niert for so sensible writer
he make, and think in making it be relied L
:, tic too much on the crcdulity of the publ
!, II is not quite easy to believe that the cauto
ut and prudent manager Of that institution "
t7et1ine to advise his stockholders to take
few hundred thousand dollars Of the stot
Is or bonds Of the Cedar Rapids Rold,
nc secure forever the control Of Ill the bu
~ ness OF tie whole line, however extcnde
4 and that will give to his road an immedi1
le annual income Of quarter Of million, and
in prospective one Of more than half q ulillio
~ aud then ddrie them to advance i million
g. dollars for duplicate bridge At Fulton, a,
ut several millions more for duplicate roads
in | run to it. The adoption Of the latter poll
r. would be an act Of insanity without any paral
-, in railroad history, unless by that Of the rel
Ill tion Of the former proposition. The cost
d the high bridge alone would be far great
in than the amount required from that Compa
to secure the completion Of the extension
the present line to the Missouri, and the co
troll Of its business over their road forert
10 One measure would be pronounced wise,
he gacious and legitimate the other unwi
IN. rash and inezpcdient. The threat will Il
hc probably be deemed worthy Of considerati
by the Nebraska Company.
~ The question, therefore, when carefully
rc- amined, is a very practical and simple OF
to | aud only requires that the wise and expe
80 enced managers of all these roads and c,
la' porations, shall app1y to the whole subje
10 the same business principles and comm
in sense which they are known to exercise
nt | their Owl individual affairs, and they eaur