New-York tribune., 1871-01-17

sN@5GO
This was year ago The capital account OF this Com
pany has since increased TO probably sGj 100000
provision made by the terms Of consolidation, for
bonded debt of seG00Oo IL is to be presumed that
amount has been wholly issued.
As shown the previous circular the watering in the
New-York Central ANA hudson River Railroad eaualcd
S7570O. The watering in the Lake Shore added to this
sum, makes total OF $i,64IO The dividends paid on
this sum. ats per cent, equal s2ii,725 annually Tho
waerings equal $4,000 per mile for the whole distance
from New-YOTk TO Chicago. The dividends paid equal
S6.325 annually, per mile, for the whole distance.
The capal account OF the NewYOr Central and Hud-
son River and the Lake Shore Railroads. equals SlC3 O7
20J. The amount OF their wateringS equal. NIGHl0
Their actual cost consequently, has been !53723 The
waterings $4,000 per mile equal the cost Of constructing
direct from SewYork to Chicago, costing 100000 ~ the
mile, with equipment sufficient to earn $40 100000 an
The present charge for transporting freight the
line equals, aud Oncalf cents per tun per mile
or this sum, one and onequarler cents Ter tun per mile
represent cost OF transportation and one and
ter cents per un per mIle prohls on capital Aomitting
this OF charge produces eight per cent upon G
OCOthe nominal cost Of the roadthen, gdridends
10 be declared upon cost Oniy-upon $s5f0O,O0O-the
charge for tho capital might be reduced very nearly
half or to 1yeoshths OF cent per tn per mile In such
case the reduction per un for the whole distance Of
miles would bc ST. H. For examples IL casts 40 cents per
100 pounds to bring granwbich Is fOurhciass freight
from Chicago 10 NewYOrk this % cents per buel Of
60 pounds. Allowing GO per cent OF this sum, u cents
per bushc for cost OF transportation have ten cents
per bushel for profit on the actual capital Now. the
nominal capital is do,ble the capital invested ten
bushel has be added to pay dividends The entire
tribute. Nothing now escapes this universal tax.
Ifhe state General Go'ernmen shouia impose tar
aud vet Commodore Vanderbilt tdyes Ne producers
cents bushei that egt per cent drided mag be Dad
on his Udtertd stock.
Gnch is q statement OF the burdens placed upon the
commerce Of great route. The managers OF this, in
connection with those OF two other great lines cOn-t-
tute OrdHd monopoly which holds in Its grasp the in
ernal commerce. and with 10 the material interest OF the
whole country. Whatever they decide In secret
caye law. In rates OF charges for transportation
they fix the profits of labor and capital the price Of food
OF fuel in fact of everything that Is consumed. They
just Erie to consider and correct the evils of
Sesspe and ranous petition At this conclave rates
were advanced about 70 per cent though the telegraph
announced advance OF only ten per cent. But Mr.
Vanderbilt must have more money, TO give him eight
cent on the S7GG570 Of bogus capital III IS per cent
will not do It, must b0 added. IL Is Winter-a the
water routes are closed The west fs JH Of produce
rhich rsst come foTtDard matter Dhdt portion Of us
Uaie Mr. V0,drbH may taks IN ear0es 70, haHSpoJtG
tom.
OF course there IT, The statement Of them Is the
edy The Western farmer is not going to pay Mr. Wander
blt his bogus stock neither Is the Eastern merchant
manufacturers. They Will either compel him to dis
gorge or will prescribe t. him the rate they viii pay.
But II not tO be expected that annual tribute OF
$62 72j will be given mp without tremendous struggle.
Mr. Vanderbilt may hold on for year or two II the
present Legislature will not give relief the members re
turned 10 the he1l i0A The people have too much OF
powers Instituted by tbcnselyest0 put up with self
constituted and lille giimat, whose rpacy ls only
measured by their ability To Oppress They will give
him fair, generous, return upon the money that
has been actually invested, but they viii not give him
dollar upon share capital that does not represent an IN
vostment This Is the esue that the public viii make
with hin.