The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-06-25

Hopkinsvile:
Grubbing. grading and bridging, 100 40
S5 miles, at $4,000 per mile. Sl20,OOJ W
RES sa54 PEP Per Nee a. % o.- g@9 sa6l 90
Laying track, 36 miles, at $500 80 -
Fish bars or spices for IS miles I5.l2S 90
Spikes at 500 per NILE I,6UO W
" ay and water stations, turn .o
tables OfOOJ W
ned aSe6 anu @upe..n.@ 1860 90
/ Rails, So lbs per yard, $50 10 per
ton. 81, 80 per mile, for IS miles
main track and sidin gs--...-.-. 800 $50 %
Total eonstruction.......... .....A ssI7.s 90
Rolling stock.---..-.----..-.- SOO,OVO,OO
Total construction and rolling
stock III ,eoZ W
' 1l.s9i5e .op' .....- 5000 90
Total........ I42,s52 90
/ To this sum Of SI.l42,S52 90 must be added
/ the existing indebtedpfss Of your Com
pany, OF $50. IS9 %, making the sum re-
| quired. on the basis of the last estlmal e,
/ 81 ,223. OIL %; aud on the basis OF the estl-
4 mate Of the Engineer, 81 ITO 1S9 %.
L 1t Is apparent from these figures mat the
/ road can not be cOmpleted without auui.
/ tional meaos, and it is equally apparent
/ that had the counties made the sub
| scriptious sked for, that the work on your
road would have gone on 10 completion:
/ 1t seems to be the settled CONVICTION that
/ the counties interested ana OWNING
/ nearly the whole road, will rot subject
| their people to further taxation TO COM
/ Dlete the road and secHre what they have
/ Invested IL is regarded as beyond doubt
| ttat some Of the counties will not on any
/ terms whatever subject cir people 10
| further taxation, and others world only
/ 40 so on terms that would inev1ta bly, rem
/ der the company unable o complete the
/ road, and ia the end defeat the object.
/ AS the counties VIII make no further
| subscri ntiOn, md you cannot look to them
/ for further aid, it viii devOlve on you to
/ devise means and resort 10 other measures
1 n the handing of EOur road. pre-
vent It's sale, and save to the counties,
| cities, towns and individuals their stock,
/ or part of it. II is believed that this can
/ be done by using the means of the Com
pany and the road itself.
| 1t is believed that contract with one or
more parties, for the completion or the
| TOad. can be made, on your Company pay
lug SSJ0,OU0 OF It's mort gage bonds, SlC0,OOJ OF
| Evansville bonds aud preferred stock
not exceeding 81, 100000 and the use
of the road for not exceeding five
/ years from the date of the contract.
| The party contracting would require
| n controlling interest in the management
| Of the road, and be required to assume
and pay the existing indebtedness OF the
| com pany; pay the Interest on the bonds
and the dividend on the preferred stock
| TOR the period for which they have the use
/ of the road pay $1,000 Interest per ann u m
/ to Tennessee; supply SDJ.OJ0 OF rolling
| stock and furnish machine shops, ma
| chinery, &c, to the amount of so, 100. The
Board OF Directors will OF course make the
/ best bargain they can, and pay as little in
| bonds and stock as they can get the work
| There is reason to believe that there
| are competent parties with ample
means aud credit and eX pertencP, WHO
/ would en-. er into such contract Sucn
/ a contract would aft I'D a large margt n
/ for profit 10 the CONTRACTOR Win
/ out an opportunity for large prof S.
| no competent party could be induced 10
! undertake IT, and parties taxing SO large
an amount OF stock as they would de-
mand, and the bonds OF the company,
would require a c0ntrollig Interest and ma
| iOlity o. Directors Ofthe Board. Their inter
/ est ought TO insure good latin IN perform
/ ign the contract. Ntverth .ess. il should be
/ well gu 3 ed, TO secure the rights and IN
/ terests OF the company
/ After the expiration OF the time Tor
| which the contractor would nave the use
/ of the road. cor idence is entertained oy
/ some that IL would pay the common stock
| holders some dividend and give some
| value to tn Ir interest. The value OF heir
| Stock VIII depend on tne PIouuctlES dust,
/ ness OF the road. II the road should yield
| as much as the least sanguine estimate, II
/ would save to the Counties, elites. towns
/ aud individuals large part OF their inter
/ est.
ESTIMATE OF BUSINESS OF ROAD.
/ Receipts from throu2h passe myers,
/ twenty five each way per day ....-.S rs 25O
| Receipts rom way passengeis per
/ annum, equal 10 through y sssen-
gers f6,0O
Receipts from through and way
freights, eQ 4al TO receipts from
pas ,eugefS .-...- loo OOJ
Receipts from coal freights, 10000
husae zlOAV
Gross receipts per anrum .s5I3 O0O
Running expenses 55per cent.--..-..---. 29s,650
Net receipts Per annum. -... .S2l4 $50
Interest t0>be plid on SI,0Ol,0OO
I Interest to be paid on 81 100000
preferred stoel-...-.,.-.------.-.,.--7 10000 80.
| Amount for dividend on common
stock
/ Amount Of common STOCK 81, 900, O08-
per cent. on same. 1890 5000
Surplus over per cent...............s $3.50
/ L submit to you an estimate furnished
| engaged in the freight department of an
i inpO tant read.
| Estimate Of earnings Cf the E., II. & n.
| Railroad wHen completed:
From through Fr'ts.- sl3o,0O0 90
=" coal g" Sc. I6S,OvO 20 sSj1,5OO OF
Z" through passen-
gers ....-.. ............ 100000 90
! 9 way pa>sehg'rs. 75,OUO 70 $4,000 %
s. mail n express 25,O0J OF
ss5l, 500 %
D duct operating expenses at
% per 2SS31) 90
s2g0,l5O o.
Interest on mortgage bonds &
/ dividend on preferred stock. 10000 %
sl25.i5O OC
4
| more than per cent.
feel confident that the foregoing esti-
| mates are low, and less than the road VIII
| earn three years after It's compile ton.
| submit to YOU an estimate of the probable
| earnings of the road after il shall have
been tuFned over to you by the contract
| Ors, under the proposition suggested by
me.
EsTIsIATs or BUSINESS or ROAD.
/ Reefs from thrO' pas
sengers, 40 each way
per day 10000. ...--..-.-.- ) IL, zoo %
Reefs from way pas
sengeIS equal to thrO'
passengers ............. l2J 200 O0-S2)0, 400 90
Reefs from way and thrO' fr'ts
equal to reefs from passenge 2j0, 400 q
Reefs from coal freighis..-........---- 10000 q
mali and express. 10000 q
Gross receipts per annum..-.--..S7 $3.50 $50 &
Deduct operating expenses IS per
cent. per an Lunl..........--....-.-.- 4Ol $40 Ok
Net receipts per annum. ......-S22S $50 u
| lntere~E on mortgage
bonds, Sl,O00,O00 per
| Dividend on preferrs
stock, 81 ,0O1,OU0, per
cent ....-..........-.-..... 10000 O0-SI4OOG0 q
SIS, $50 O
Henderson, city stock. $3.50. 600 90
H Honlins s,nptv :. =. 5 5S3 so9 9e9
fi 6Ip,a,ian o'enty :. - 5 y 993 ~
cruz ms Todd co. -. 25'00 %
Hopklnsviie $50 o 90
lndiVldua.s 2U260I 20
sl,8I260O 90
Add stock to be issued
for tax receipts for
years $500 co
" hole amount of com.
stock. ,545, 100 co
: per cent. on Sl.6O0,000 00 would
/ ht4a m z ~ n