The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1873-04-18

81. Louis AIRLINE Kailway--thfr''
Annual Report of the ofiicess
of the Com pany.
We have before VS. tho th'ru annual
r.,,nrt of the Louisville, New Albany
and 81. Louis Air-Iine ka'iroad, ana
from il we gather Information that the
na;csrs have before them aprospect OF
a. osrIv completion. This work has been
snn,cwhat delayed by the embarrass
mani of the original contractors ana the
""',,socuen, abandonment OF their work.
TI;s .rounled with a stringent European
n,"nsv market, in the latter part OF 1872,
..h;..,, prevented the negotiation OF the
bonds of the company, mas somewhat
DELAYED the progress anticipates oy me
officers. 1t is anticipated that the latter
ditliculty will be overcome the present
month.that the bonds will be Immediate
iv negotiated, and that the entire work
viii be completed during the year.
This road is one OF the most impor-
tant in the country, now in progress OF
construction, forming, as it does, the
connecting link OF 4 trans-continehtaI
line. Besides it is Of vast local impor-
lance. penetrating coal region III IN
diana not cxcelled in the country, ira.
ver,inr a large district of finely timered
country. and aboumding in the most fer
tile farming lands Of the Northwest
These will be more fully developed
whcn the road is completed, aud mar
Ect can he reached for the products.
From the report we learn that but
small amount of work is now required
on some eighty miles of the road, and
that thirty-one miles Ia already III Ope-
ration. and the cars running regularly
on twenty eight miles. The bricge across
the Wabash, q fine Howe truss, l3OO feet
in length. has been completed within the
mast wear and trains arc now crossing
the Wabash to Albion Illinois.
Nv the report OF ting Secretary and
Treasurer. we learn that the capital stock
subscribed amounts to :z'o".4-o u,
which includes construction, rlsht Oh
way, real estate for the use OF the COM
pany. engineering. locomotives passen-
ger coaches, etc. The company mas Is
sued s4.525,OOO first MORTGAGES per
per cent, bondsy only sls4OVo OF which
have been sold for the reason above
stated.
Chief Engineer, r. j. Dakcs, reports
the construction in a fair state OF for
wardness, and that the cost has been less
than the estimates heretofore made. and
Il is fair to presume, now that the hcavi-
cat portiou of the work is so near COM
Melted. that what .remains to he done
will show a much greater sum less than
the original estimate, although the Chief
Engineer does not SO state III direct
term.
The statements made Ivy Col. Dukes
in his report are based upon the actual
expenditures, with the original estimates
before him. so that there can be no ques-
ton as to their correctness. In closing
his report, after placing before the stock
holder the expenditures for the work al
ready completed and the estimates for
the remaining portion Of the work. says
at is easily perceived that there will re-
main from the assets of the company,
after expanding the amount (estimates
of stock,l a sufficient sum to equip the
read in manner equal. II NOT superior,
to majority Of new roads opened iof
business i'm this part Of the country.
We can bat congratulate the stocK'
holders and officers OF the company III
the progress already made,and the prom
Using feature in regard to their enter.
prise. President Bradley, and the OF
ficers who are engaged with him In car
rying forward this great work, are en-
titled to the thanks of the countr.
thraugh which the road passes for TIT
iudefatigable industry and energy the!
have displayed in pushing It forward U
completion. And we safely promise
when the road is in full operation, tn
people, not only along the line of tn
road. but in this city and LOUISVILLE will
reap an ample reward for the expendii
ture Of their means.-( New Albany Led