New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-27

Total from 1861 TO 1866

Total for years next Total from 1861 10 1900
RECENT RAILROAD PROGRESS BEHIND THE GROWTH OF
THE COUNTRY.
is thus apparent that during years the progress
In railroads has not kept pace with the growth OF popu
latOn and the ordinary expansion Of business and tins
iac becomes especially apparent when ~ Is consdetea
that good portion Of the new road built within that
period has been designed to connect the Atlantic States
with the Pacific, contributing little 70 meet the wants OF
commerce IN the more thlckly populated sections The
large new population 10 the West with the result Of
rapid filling up Of some OF the less densely settled pOr
quantity OF products seeking the markets, and the
panson Of trade generally call for enlarged transpora
ton facilities In those sections.
WANT or RAILROADS IN THE SOUTH.
Al the South, also, there Is pressing want OF better
that section consequent upon the war; has been followed
by maryeously rapid recuperation Not only has the
OF It's products been about restored TO that OF
former years but the commercial enterprise OF the pe0
pie has been quckened that they are no longer sas
fed with their former slow and tedious methods OF trans
portation, but demand tho convenient and exped
tOus for marketing their crops and Tor free e&
change Of products with other sections The infusion OF
Northern enterprise has resulted in an effort to make
available for the country at large the immense mineral
some Of me hitherto neglected portions Of the south
new being provided with additional railroad accommo
dalton.
THE REVIVAL OF RAILROAD ENTERPRISE DESIGNED To Ac
COMNODATE An EXISTING COMMERCE.
The present activity in railroad construction therefore
expression OF real commercial requirement. IL can
scarcely be regarded as the anticipation OF future
want, but i rather an efort TO accomm9date business
from the railroad mania OF former years when the
cess OF the road entirely dependent upon population
following the Fortunately most OF the roads then
built have proved highly profitable, ana their mortgage
debts have been honOred with regularity unsurpassed
by any other class OF securities No stronger evidence
coud afforded Of the need OF increased railroad fac
lies than the fact that the pressure OF traffic upon the
old roads has been great as TO induce the companies 10
largely increase their capital in order to avoid the posi-
bty that their large dividends might Induce the state
Legislatures their rates OF freight Most or
the roads being built however are not so much de-
signed compete with old and powerful corporations as
OF recently developed sections, to
which pOuulatiOu Is rapidly flowing and where the means
Of transportation utterly inadequate.
GROWING DIsIRUsF OF RAILROAD STOCKS A. INVEST
MENrs.
The conservative feeling Of investors s producing a
disinciuaton to invest railroad stocks; and nat
uraly for that class OF securities are 80 u-
who Systematically manipulate them for the purpose OF
producing artificial fluctuations that there Is no stability
In their value and consequently the nuucenent aHOded
by liberal dividends is neutralZed by the liability 10 loss
upon the principal Railroad bonds are not subject TO
these fluctuations The interest Is first provided for out
OF the earnings and the principal Is protected by the
propery Of the company and having thus stable basis,
speculation cannot interfere with their value. first
mortgage upon good railroad property Indeed, Is one
OF the safest OF all Investments II ~ first lien with
annie margin upon real estate which improves with the
deyeopnent OF the country, ana which hardly de-
preciate under any possible circumstances.
COMPARATIVE VALUE RAILROAD BONDS AND OF GOVERN
MENT SECURITIES.
The nducement invest in these securities increased
bv the high premium upon Government bonds At the
current market price OF Fret nenhes, they yeld only Ct
nor rent ia currency Whie The bonds OF HrscdSS roads
nor offered by u.s. yield about cent ii currency upon
Inc amount Invested. Taking, Tor instance an per
lt cold bearing bond which We now offer at par In cur
r.Ucy their superiority United States bonds as
Investment will he apparent from the following com.
bv 800 of those bonds The annual interest upon the
$40 900 ZOOS would be $500 gold The annual interest
uuou the bonds would be 500, gold.
yaITE INTEREST UPON THESE RESPECTIVE INVEST
MEMS FOR A PERIOD OF TWENTY YEARS.