Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1868-01-16
THIRD. AS TO DIVIDEND.

N PAOJSSV 10 SSA s0'ihlJ
practicable.
THIRD. AS TO DIVIDEND.
l answer it will pay. My reasons
for so saying are these:
First-We have 24 locks. No man
who contemplates the vast resources
of Raccoon Valley, the coal, iron ore,
wood, lumber. hoop poles, slaves,
flour, wheat, hay, wool, live stock,
manufactured iron, lime, salt, &c,
with the vast amount of merchandise
to be brought into the Valley by our
merchants, and the innumerable
other freights, warrants us in saying
five boats per day at each lock, up
and down, will be necessary to carry
Off our products and bring in our
merchandise, DC. This gives us SO
per day, on an average, at each lock;
"A locks gives us daily income of
S24O. Then we ascertain from mill
owners, persons engaged in boating
on Raccoon to its mouth, and others
who have been on the banks of the
stream all their lives, and they fix
the time that boats will run at eight,
nine and ten months, taking into
consideration time lost when the
stream is frozen over, too high to
pass under the bridges, DC. We are
warranted in fixing the time of run j,
ming at 6 months and 20 days; or 200
annually. This gives US an income
of $4,000; though we believe that
the running time will not be less
than 10 months annually, on an aver
age of years. We see this season
that navigation would be open to this
date Jan. I'd, 1868.
1t is suggested that the Company
place on the line two packets, from
Gallipolis to Zaleski, one leaving
each point daily, at 5 or 6 o'clock, A.
M., running through In day light
This can be done. By it, passengers
can connect with steamers at CALI
polls, up or down the Ohio river. and
with the NJ. d C. R. R., east or west
Passengers can leave Gallipolis by
our packet and connect with trains
on the M. d c. R. r., so as to reach |
Cincinnati for breakfast the next
morning; much quicker than by the
Ohio river. These packets can be
built for fast running; having mail
and express rooms, &C., as on our
railroad trains. Citizens along the
line il Gallia county can reach CALI
polls to attend Courts, as parties,
Jurors, or witnesses, to pay thir tax
IS and transact business, with safety
1T a cost Off to 8 cents per mile; and
he same may be said Of citizens from
Wilksyille, Vinton and Knox town
ships, in Vinton county, who can
each Macarthur by packet and trains
'or the same purposes; to which we
nay add the travelling community, Of
which we will undoubtedly have a
hare.
These warrant us in estimating the
ravel at Is through passengers to
ZACH packet; add to this S5 for ex-
'ress and mail--all of which is very
ow estimate-and we have daily
ncome of $50 from each packet
This for both packets 200 days give
IS 800, 900; throw off one half for
unning expenses, repairs, &c, and
We have $4,000 per annum. Thus,
vhen completed, we have an income +,
# s5S,00O from lockage and packets,
let off $4,000 for pay of officers,
ffice rents, stationery, fuel, &c, and
uppose two locks and dams washed
ut yearly, (which has not happened
ten years, and it requires $40, 900 |
aore to replace them and keep up
epairs; you have left $4,000. Sup
'ose you throw off $40, 900 at being
n over estimate, (which I do not
'elieve) and you have $4,000 LEFT
which is 20 per cent. to distribute l
8 a dividend on stock. In fsct l n
annot, by any reasonable eaicnla1ion U
educe the income so as to bring IL a
own to an annual dividend Oh lo per 3
ent. I have no hesitation in saying b
hat II the affairs OF the Company v