The evening Argus., 1866-03-20
The Central Road.

The amount of lands donated to the Illi-
nois Central Railroad Company by the gov.
ernment was 2, 500, 600 acres. This land could
have been purchased by the company for
about 5000. 900. The government received
as much for the remaining lands as it would
have sold the whole for if no grant had been
made, and by the building of the road those
lands were brought into market many years
earlier than they possibly could have been
by any other plan, During the war the Illi-
nois Cetnral Railroad Company actually re-
paid the government tor every acre of this
donated land in the difference in the price al
lowed to it for the transportation of govern
mens property and troops and the prices paid
to other roads for similar services, the deduc
ti0n of thirty-three and one-third per cent,
upon the government business done by the
road being more than the entire value of the
donated lands. g S
Thus the government, by the grant of al.
ternate sections of land along the line of the
road, secured quick market for the remain
der at price that paid for the whole, and by
it's reservation of the right to the use of the
road as a public highway for the traneporta-
tion of its troops and other property saved in
four years time sum equal to the full val
ue of the donated lands. If the road now
should be compelled to repay the money re-
&C., in the transportation of the government
property and troops, it would pay in the
equivalent of cash nearly three times the
government price for the lands
The total cost of the road to Jan. /, 1866.
over and above the amounts received from
lsnd sales, is $35, 743, 900. Of this amount
the stock holders have advanced S23, All $50,
and Sl2, ,33l 500 have been obtained upon
the bonds of the company. We shall not be
far out of the way in the assertion that the
road thoroughly equipped and completed,
with tracks and rolling stock, warehouses,
&C., sufficient for the transaction of the bust
| ness of the line, will cost $40 100000 over
and above the whols amount which it will re.
ceive from the sale of all of its lands. In
view of these facts, the proposition to compel
the road to not only furnish The use of its
| track, but actually supply the rolling stock
and pay all the expenses of SS. .00O,OO0 worth
of government business transacted during the
war, is verse than the demand of Shylock for
the pound of flesh nominated in the bond.
The estimate for the running expenses of a
railroad is seventy percent of it's gross earn
ings, upon the usual tariff of charges. The
govern nment rates are greatly below the reg
ular railroad rates, and out of the govern
ment rate thirty three and onsthird per cent
was taken in the case of the Central road as
an allowance TO the government for its char
ter right to the use of the roadway. From
the sixty-six and two-thirds per cent remain
ing the road had to pay the state of Illinois
seven per cent.
| 1t win be very readily perceived by any
business man from these statements that the
| road has never received from the United
States price for the of it's rolling stock,
| hands, &c, sufficient TO pay the actual eX
| penses OF transporting the government prop.
erty and troops. Even if the strict letter Of
| the law then were against the road (which ii
is notl, every principle of equity and fair
ness demands that the contracts made by the
war department remain undisturbed, and
such, we believe, is the almost unanimous
sentiment of the people of this state Chi
| caq0 Republican.