The Placer herald., 1869-11-06
con ooi.srsd The rout. and afterwards made


an instromsntsl survey. estimated. it our
memory serves Us right, the entire coat Of
the road to the State line, (l38 miIes At
less ,ban els, 900 900; but to be over rather
than under the actual cost, ws will set do~o
the cost Of The mountain division OF The road
at go ,O0n, 900, which would make the total
cos. Of the whole road $35. .45O. 900. and lssvs
an unexpended balance Of ~, ,l25. 900. Say
nothing Of the $l0.OOO,OO0 for land and the
t25. 900. 900 in frst mortgage bonds. and still
We have over 81, 100000 10 the hands Of
the company unsccounted for. 10 which must
he added s., 400 900 as the net earnings OF
the road stree i,s completion, and We have
The snug sum Of 100000 to be divided
between the stockholders. 1.-THE reader will
refer back 10 the items namsd in the table
of "rssources." he will f that "Subsrrip.
tions to Capital Stock" are set down at on
ly $4,000 900; Of this $4,000 Placer
county paid in $3.50, 900 or one sixteenth Of
The whole amount. There is then due Pls
csr ~ her pro rata share Of this 80. 400, 900.
the sum of S5S7,500. The earnings Of the
road for September, 1860. are published by
the Warrington city Chronicle, at $597 500.
and the company claims, in the statement
made through Fisk u Hatch. that nearly
80 per cent Of the gross earnings Of the road
are clear profit. Say the operating expen-
sss reach twenty per cent. and the net earn
ings Of the road for September are $47s 900
The one sixteenth Of this 8 IN is $29875,
which would 10 Placer county's dividend for
the month OF September last. There is no
doubt. but each Of the six or seven leading
members Of the company have saved out OF
the donations for the construction Of the
road several millions Of dollars and Place,
county paid in, in sclual available capital.
more than any one Of these six or seven
stockholders cid, or could. at the time the
franchise was granted, and she, TOO, should
have her nst share Of the earnings and sav.
inps of the enterprise, even il il does run in q
millions of doilars. Most unques,ion sbIv.
the receipt, Of the road will reach an aver.
age OF $500 600 per month for the next year
making $4,000, 900, deduct twenty per cen,
for cost of operating and we have s. 800 900
TO divide, $500, 900 Of which will be Pla.
GERS portion.
Now We have shown beyond all con,in,
gencies balance due Placer. over and above
The land and frs, mortgage bonds, Of $751;
500 andsan accurate, rigid and thorough in.
ves,'ga,ion aud fair and equitable settle
ment. will give us vastly more than that.
The road is nov fully completed. and the
work has been we'll and economically per
formed. and We suppose The officers are now
fully prepared and willing TO make a clean
breast to the stockholders, and our Super.
visors should. as the lawful agents of the
people of Placer, take steps to secure an
early settlement, covering all pas, bust
ness Of the corporation, and secure arrang>
ments BY which the county will, in the fu.
ture, draw her monthly dividends regularly,
which cannot he less than fifteen or twenty
thousand dollars per month.
4 corporation cannot "scuter" one stock
holders stock. scithoat "watering' all the stock
alike.