The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1867-04-09

A similar Increase has beCn eEp
sacsa $50 upon masi roz3s % tle am
cant q freight transported
We b,l.efo that similar experience
vii charac,erizs the cs,.mate % hus
n.ss We have made, oar estimates have
been sabmate1 to. and discussed with
lsSs q experiences D railroads and their
sources u business. and ara regarded
a. los estimates
Msesimaio our road ~ cost S 5j3
2gl. th8 estimate vas f3lajed upou
careful survey II tho route, and the
work 70 be d3no on the lrst Isl miles
from Chatham - Lebanon Springs
waich i fully swo.thirds gradsl Tine
pricea, we're those at which work Was
bong done Of the time. end higher than
81 tho present time II Is sufficient 70
STATE that responsible contractors are
ready 70 take the grading, or the entire
york, q. tho estimated cost Orr pres
eat estimates. confirmed By the Eng
nasr Of the Vermont Central are that
tI.i9l000 VIII complete the work
/, is proper here to remark that the
route Of our road Is for The most part
through valleys, upon the bottom mead
ovs. which is not expensive 40 con
struc,
To pay the interest on the bonds Of
$4,000. would require only nett earn
ings Of 10000 year. or a gross earn
iDEa Of 100000 per year-or ~ 80
coo per mile. gross earning 81 1924
coo which is only one-half our cstima-
ted earnings, aud less than one-third
ihc earnings Of the Harlem road for
isG5, and about one-fourth the earnings
o. that road for 1896 per mile.
want to call attention 10 few facts
concerning the Railroads q this State.
/, is noticeable fact that there is
rot railroad in the State Of New York
that docs not pay the interest upon IT'S
bonded debt, promptly, that the aver
age earnings Of 2,5ll mtles Of finished
railroads IN the State Of New York was,
by the last Report Of the State EngI-
neer. SO, 400 per milo.
II We deduct from the number Of
finished roads the four most important,
New York aud Erie, New York Gem
trial, Harlem, aud Hudson River we
have remaining /. 222 miles. which en-
braces all the short roads having no
profitable connections, These show an
average earning Of $500 per mile.
By 90 interesting table IN Hunts Her-
chani. Magazine, ii Is shown thai for ten
years the average earnings per mile q
ell the roads in the State of New York
has been 81, 207 for each year, and That
The profits OF each year, after dedncting
operating expenses, have averaged 81
IL per cent leaving, after paying the
interest upon Their debts, u per cent
apon their stock.
The through lines in the State Of
New York have earned $4,000 per
mile only interest upon their bon
ded debts, but over 10 per cent. upon
their stock.
These are the facts in regard to oil
The railroads in the State Of New York.
They are facts that speak for themselves.
To pay the interest on the Bonds,
will require only an earning Of $4,000
per mile; and all the earnings beyond
that amount, Will be for the benefit Of
the Stock.
When completed, this road takes its
position as through line from New
York to Montreal On opening it en-
ters at once upon large existing bust
ness. awaiting is completion, and which
is entirely independent Of is loca. bust
ness, il is reasonable TO suppose II vii
earn an average 81 the poorest roads u
the State III -. il vii pay the inter
est on the bonds aud have a surplus o
"a per cent upon the STOCK.
Or, fit will earn the average Of tbs
roads 10 the State for 10 years past, j
viii pay the interest on the bonds, an'
have surplus Of I per cent on th'
Stock.
Or, to NEE. the question with FAIR
ness, we viii assume for j. a. a 'hrousl
line. earnings equal 70 ono half q lh
other through lines, which is less thar
the average earnings q the roads ID "
State, il viii pay the interest on ih
bonds, and leave a surplus q s. r.
cent upon the stock
Or, ifitpill earn whatvo have egtma
ted. j, viii pay tho inieres; on the bond
and 81 per cent on the stock.
Or, allowing from these estimates,
deduction 81 one-quarter as proposed
- :. -tli fsex The interest 0n th