, 1873-07-19

FTohl sAt utoH4Ht 371He8.
1t iB evident TINT some OF tho railroads in the
State Of Iowa are not tho monopoles which they
are generally formed, or olso monopoliea may be
OF very Improbable kind. A short t,ulo einco
Valley Railroad because Of tho falure of tho COM
pany to pay interest on Its bonds. The capital
stock Of tho road has long boon vaueess, and oil
tho company could possibly DO was to pay the rum
evor business is performed for. tho public at
iosB than cost, because, whilo it has done notl-
Ing toward l4uidating tho intorest account up-
on it's bonds, aud has given its Stockholders not
tho value of cent. It has a'so been allowing
Its road-bed to deteriorate sadly. THO settle.
mont Of tho country may bring it to q paying
condition some tinlo iii tho future, but up to
this tilno, aud for years to come, no one will ba
nkely to class tho Dea AfoineB Valley Company
as being among those monsters Of monopolios,
getting rich OF tho spolls Of the people.
The Central Railroad Of Iowa seems to DO fast
reaching tho condition OF tho Dos AIoinos Valley.
It's Directors hayo just isauod q circular to- The
bondholders, declaring tlat tho earnings Of tho
operating, aud that therefore, although they
woro compelled to pasAtlio April payment Of in
terest upon the second-mortgago bonds, they
are now again compelled to pass tho July inter
is also moro than S950, 900, Of which more than
ouc-ha!f, or s524, 900, iB for money advanced to
pay previous interest. They also deolaro that
the road cannot DO properly workod without a
miles Of ii il practically uAoloss without the oon-
Btructien Of thirty-oue miles Of now lino and
means to provide this must be provided.
Tho Dubuque Southwestern Railroad ia only
bonded for about $4,000 per mile, and although
It has been thus far enabled to pay yintorost upon
ita bonds it has not for years, IL over paid 8
cont in tho way Of dividend upon It's capital
stock.. 4 surplus which it. had on hand last
yenr enabled It to .pny tho last inhtallment Of
Interest die on itB bonds, but it is exceedingly
doubtful if 1t will bo enabled to meet tho next
coupons due, aud thus far, this year, it has been
unable to pay its taxea in some Of the counties.
According to the best information NO can get,
greater indications Of profit Tho riycr compo-
ttlon Hoops their schedules down to low ratoa,
nnd their receipts. in comparison with their
cnrnings, give no evidence OF q balance on the
right sido. II thoy ear1l auttlctont to pay run
ming oxpensos, and interest upon thoif bonds,
for q few yoars to como, wo approhcnd that the
Directory will be vol gatisnod. ..-'
Even the Illinois Central reported tho expenge
OF it's Iowa Diyision $4,000 moro last year than
its receipts, and the groBa earnings Of it's Wcnt-
orn Division arc given at only 81 ,B37. IL por milo,
hardly enough to pay running expenses, to Hay
nothing OF rental mud ropairH.
Tho Davenport l. St. Paul Railroad roports
gross earnings OF only ss37.71, per mile, and,
with Its increased longth, will not for aome tina
earn enough to pay Its taxes and the coupona
on ita bombs.
Even tito Sioux City l. Pacific, with ita Gov
erument subsidy IN bontn and lands, han not, wo
understand, paid a. dollar Of dividend to itH
Stockholders.
Tic Burlington l. Southwestern. the Chicago
4 southwestern; tho Iowa Midlanl the sabnla.,
Aokloy j. Dakota md tho Sioux City 4 ct: Paul,
arG oil III a condition other thau profitable to
tlloir stockholders. Not ono Of them has paid
cont OF diydoud upon thclr stock.