The Carson daily appeal. [volume] (Carson City, Nev.) 1865-1870, 1868-12-15
TIE CONTEMPLATED RAILROAD
SOME FACTS AND FIGURES.

In our Sunday mornings article uro
the Virginia and Carson Railroad pre-
ject, we inadvertently made one error i
figures which may as well be correcte
in the ou,start Of this. Speaking o
the proposed issuance of seven per cent
bonds in the sum of $500, 900: we said
ssThis would involve the levying CT {
tax, sufficient 10 raise, in addition Il
that which is now collected, for the frs
year, something like $40, OO0-to pro
vide for the interest and sinking fund
If We had said something short OF
$4,000" we should have come nearer
the mark.
Ia the discussions Of this subject
among those who have taken an interest
10 the matter, the conclusion has been
pretty generally arrived at that the
PROPOSE law should be SO framed as 10
provide for the retirement of such au
amount of the bonds, per anuum, in the
order OF their registration, as there
would be enough of the sinking fund to
redeem, thus reducing both the principal
aud interest from year to year during
the fifteen years that the bonds would
run.
1t is also proposed that there be 20
levy Of tax to create a sinking fund
until, say, two years after the first issu
ance Of the bonds-thus awaiting the
calculated appreciation in, and augmen-
tation of, our taxable property before
We begin TO pay off the principal, |
Under this plan we should provide for
the payment Of the entire principal in |
thirteen years, thereby rendering neces
'ary the raising, by taxation, of a yearly
revenue of SIS, 40O-more or less. OF
course, as ibis sum was applied, year by
rear, to the redemption Of the bonds,
he annual interest would be proper
ionately lessened.
Supposirg this plan adopted, we
should have to raise Sl4 900 per annum,
interest money in The years l87Oand 1871,
'ud less than that amount, by the reduc-
ion, by the sinking fund, Of the prin- {
ipal, the thirteen years therefrom.
his would ucces5iiate tie leyyiHg of
Ak upon the presen: properly valuation
q the county (not taking into con /
liberation the chances of an increase a
aerein from the building Of the railroad, i
tc. something near ninety cents add |
Onal to the one dollar and eighty five {
ants now levied upoa au aggregate OF b
'xables amounting to lin round num- {
srsj ST. 600, 900. Ia other words, it is ?
und necessary TO raise now about c
% 900 per auHum to pay the expenses Il
the county, aud if we were to pay P
Id ,0C0 extra We should be compelled /!
raise the rate Of taxation from 81 So T
S. Is. it
But it is reasonable TO suppose that &c
soon as 1870, at least, we should pt
gin to derive the benefits Of con-
lerable increase OF cur taxables
rough the nssessable railroad prop 'h
y, additional mills, machine shops,
'od aud timber yards, etc; exc. M
Again, if, as proposed by certain A.
rites, such bill should be passed by tn
, Legislature rs would provide for ~. Ia
. issuance of SlO0. 900 in bonds upon sol
} completion OF q part Of the road and stf
, other 500, GOO when it WIS finished, ito
I taxes would enly lie increased (sup- no
ing the road would rot be flushed On
It Year, at the rate of forty five cents XII XII
'r their present rate-S7, 800 being Ba
total amount of interest money to see
raised. Appended are some careful tim
correct estimates, upon different VII
Ies, of the cost of this proposed ia- ish
tment: and
as
cunt of bonds for railroad kill
uIpOScS. LZJJ, DJ0 90 the
cunt Of interest for the ID
ears. applying the sinking IT
md as 1t accrues, to the iiqui-
stion OF the bonds, annually, l26,O02 60 TO
Io----"-- The
S326,002 90