The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-05-16
OREGON CENTRAL RAILROAD.

OREGON CENTRAL RAILROAD.
What the people want just now is
facts relative to this Railroad. The
following is from "An Address to the
People of Oregon" by some agent of
the Company; and is so we'll stated
and to the point that We copy it en-
tire:
The capital stock of the Company
is S7,25o,ooo. This being the repre-
sented cost of the first $50 miles OF
the road. $5,250,0o0 of this is com
mon stock, which will be offered for
sale at ten cents on the dollar. On
payment of ten per cent. for the stock
purchased, certificates will be issued
as full paid stock, and the word "non-
assessable" will be printed on the face
of each certificate, to protect the hold
er from ever being called on to pay
any additional amount or assessment.
The actual cost of the road will be
80, ESQ 5000, in payment for which First
Mortgage Bonds will be
Issued to the contractors for .............S 2 400, 900
Second Mortgage bonds will DO .......... 2,400 900
And We promise TO raise cnsh."..".... 45o. 900
$3.50. 900
We have agreed to raise, TO be APP
piled on the work as it proceeds, the
sum of $4,000 per mile, which we can
do by the sale of common stock, at
ten cents on the dollar. We expect
the great benefits to be conferred on
the country by the building of the
road, to be sufficient i%nducement to
all property owners and business men
to aid the enterprise according to their
ability. The contractors, A. j. Cook
& Co, volunteer to give every pur-
chaser of stock their obligation to re-
deem the stock, within two years, by
repayment of the sum, in coin, origi-
nally paid for the anne. The question
of the value of the investment, indie
pendent of their promise, can be an
swered by n few statistics of the cost
of railroads in other states, aud the
income derived from their successful
operation
Seven railroads in Vermont cost
s4O,s24 per mile. Thirty railroads in
New York cost s49,963. The cost of
the Oregon Central Railroad is only
Ss5 1000, being s5,s24 per mile less
than the cost of railroads in Vermont,
and 81, 963 less than the cost of the
railroads in New York. The roads in
both of these States pay large divi-
dends on the amount of their cost, and
it is reasonable TO expect that our
read will eventually pay q large in.
come, far more than is sufficient TO
meet the interest, while its value, when
it shall become connected with the
California road, and be a great nation
al thoroughfare, connecting the North
Pacific coast with San Francisco, and
the Central Pacific Railroad, will be
so increased rs TO insure that it will
be ablcin a few years to pay off the
debt and be the property of the stock
holders. It's benefits to the country
will be immediate, in increasing the
value ofpropcrty as well as the amount
of business and population. There
are many reasons why the people of
Oregon should own this stock. One
is that the possession of the majority
of the stock carries with it the control
of the Road, and the people of Oregon
should not permit the controlling in
terest Of so important n work to pass
into the hands of outside capitalists,
who might fix an unreasonable tariff
for the transportation of freight and
passengers.
As another reason-the influence
cxerted by a live Oregon corporation
would be favorable, both at home and
abroad. At home, in regulating the
location of stations and depots at
suitable points, employing persons IA
vorable to the best interests of Ore
gon, and in electing officers from
among our own people to manage the
affairs of the company. 1t would ex-
ert a favorable influence abroad to
have it appear that this great road is
owned and conducted by the people
of the State.
The following item, taken from the
n. Y. Tribune, shows in n sentence
the Importance of railroads in enhan-
cling the value of the States which
built them: "Twelve counties in Mis-.
souri, through which the main line OF
railway to the West runs, have in.
creased their valuation more than
$I35, 900, 900 since the roads were
built. Ten counties without roads
have fallen off since 1900"
There are 5000, ooo,o oo of acres Of
excellent land in the Willamette, imp.
qua and Rogue River valleys, besides
the region bordering on them, whose
timber and mineral wealth are To he