The Columbia herald. [volume] (Columbia, Tenn.) 1850-1873, 1871-12-01

3D.. - o
/ Assuming that { he branch IN the But
falO Valley would DO built hy mean,
raised in Perry county, we find that tn.
cost Of the road from Columbia to Ten
nessee River would approximately b,
One-iifteenth Of the amount of taxable
property in che counties along the line
and very ne,f the amount allowed hy
the Code Of Tennessee To he applied b,
/ counties for railroad construction.
The value OF real and personal proper.
~ OF the counties along The WhJEe Inc
of road from Grundy county 10 tho Ten
neSse9 river is SIS CT Us, aEofding O
/ sufficient basis OF means 10 build this
road.
II the means TO build the road were
! raised by stock subscriptions IN the
/ above mentioned counties along the
! line, the jad would be the exclusive
! property OF the stock holders, the people
/ OF the Valley, who would have il one
/ rated for THEW own benefit.
i road Of this character with Two ar
! tlcles Of constant lreigbt--irOu ore aud
| coal-passiBg daily over the road, ex-
! elusive of the large amount Of local
! freights, is bound TO do very heavy
business, and 10 produce net earnings Of
at leasto per cent, and the stock aoiders
would thus make profitable invest
ment, with direct dividends and Indirect
accidental benefits o. inCalcuiable value.
Assuming however that such a sum
could not be obtained by stock suUscrip-
tons, and that $1,000 per mile, the re
Guisite sum demanded by law to organ
ize chartered corporation, cUuld ONLY
be obtained, proport.onate decrease
i'll dividends would DO the couse-
queEce, as tor instance, on the portion
of road from
TENNESSEE RIVER To COLUMBIA
$500, 900 in cash, or So, 00D n Ist mort
gage bonds bedriag G per cent would
then have to DO used to complete the
road.
In such case, allowing the net earn
In9s OF the road 10 be minimum Of
SCI, 900 pei annum, the sum of S3l,5g0
per annum would have 10 be deducted
for the interest on such bonds. which
would reduce the dividend to : 80, 100 per
aDnum between JohDsonyiile and Co
lumbia.
The dnty of the Commissioners being
to raise subscription Of capital Stock
Of $1,000 per mile, they have OF course
not taken any steps in regard TO the eX-
ecutiUn Of the work and the cOustrug-
ton OF the road
II IS To be presumed however, That the
future Board of Directors will, when
they will have raised the necessary
means, which III the opinion Of Il COM
pe.ent engineer, after careful survey.
Will be sufficient to grade tho road, al
yertise for proposals from responsible
parties, and may find that tie very
cheapest mode to build the road will b.
TO employ Penitentiary convicts.
The road is 10 be built for the people
OF Duck River Vslley, with their means,
and not in the interest of - special con
tracing interest. No effort viii tu-rr-
fore lie spared To find he cheapest mote I
10 build the road in substantial DUH- /
Her, SO il will AT once bear al the iruit- /
and Secure he ada an a.es If ihe NEW |
narrow gauge system to tie Stockholders |
and TO no one else.
1t is 10 be hoped that large sui strip |
tons will be made t. be paid in cross /
ties and in land, as this latter suiscrip- /
ton would be source of much profit 10 |
the company Uy its Constantly ihCreas-
ing value. Land owners IN Duck River /
Valley can well afford To subscribe II
portion of their large tracts, now oi COM
small value, 10 obtain the