, 1873-10-07

H1hHhHs4 A}iHllEIt EJ+3lEstb3 lHr nECOll1lt NJ
tl,o mississippi ivot brilro nj 'Yinona, aI.2of..
~! for tho LnCruhto, IrcnJcloau & TroHoott
Hallway, :7.o7oG9 fnr the alapwood l. 1ipton
!ranci,, a1i4 ,i92,i7 for tho State Limo Il Uniol1
Midland. -42s. .6tD,25; mud on account OF tln
North" oatoru. Uninn Hallway, betwoen Alitwa,,-
Roo and Fond DIT Inc, including extensive and
gna gS'ahlo a. depot-grounds iii milwaukee,, s2,2l3,
Tho aggregate aum expended by nll tl,oso
corporations during tho yoar, for construction
ana ACKNOWLEDGEMENTS amounts to S104G2.-
1b4.0l. apportionod as follows
Ch!cnHo II Northwestern Company:
gohstfllct1oh .......+... ..$1.44G,11f.T2
Asl"liaeAt.. ....,s..... ,437, ,1tJ.1G
{yans wnons y g. peter Railroad Company. :. 2730a32
Winoha, hiAnkata 4 Now Ultn Company, 4,8t2.lg
La csoaso, Trcmpclcau l. Prescott i.aiIroai
stsnwao Tipton 14taaaa9 .a4
d9wa Midland Kailroad Company. 2s,soy. .95
State Line 4 uniun Railroal coinpany.... q405.11
on aomo accounts tho Inst yoar may bo re-
garttod as exceptional to any that has preceded
Or that Will follow It, in completing or bringing
TO M approximate close many largo and import
ans Workh Of conAtr1iction TINT could not DO
postponed without loss, especially In respect 10
tlc land-gr0nt roads.
LAND SECURED.
=, Tho total quantity OF fnnd secured to tho on
ttro line north OF Fort Howard, by completion of
tho extension Of last year. is computed ut little
moro than 100000 acrcs. hlnny Of thcHe lands
arc vol timberod, md 1t Is not unreasonable to
suppose TINT some may contain valuable deposits
OF iron orc Stops are boing takon to cxamino
and ASCERTAIN their value. which will conetautly
appreciate and add to tho worth Of tho Comna.
ny'Bproporty.
VARIOUS IMPROVEMENTS
on tho lines of tho Company, aud further In
crease Of equipment, whicl, WAS Indispensable to
tue business, bare becn supplied. Ample
grounds, lying Just wcst Of tho Chicago city,
limits, havo boon acquired for now engino-hos,se,
machine and chr SHOPS: md buildings for a
large part Of those works aro fur advanced.
THE W1NoNA st. PETER ROAD.
Company. tho Winona Il St. Peter was lanl-
grant road, and the timo for itB completion OK
pirod on tho Cd OF March laat. This roma would
hayc boon finished last fall hut for tho early
winter, Which Bot IN in Novoinbor, and made
SIX nonths' titne was granted by Congress-, and
tue line will be fully completed within that po-
riod. Tho quantity Of land Which will 10 OBJ
tained for the extensions made since tho pur-
wards Of 1900. 900 acrcs. Tho land ia Of tho
best quality to bo found in either hlinnosota or
Dakota, mud with great quantities. Of Govorn-
mont land On tho alternate Reotions now for tho
first time opened up to settlement will attract
carly occupation and improvement. It will DO tho
policy OF tho Company to encourage actual aot-
TIERS and to build up traffic for tic railroad, by
tho aa!o OF lands at low prices, and by minimum
lAtuh loT transportation.
FOND Du LAO DIVISION OF TIE NORTHWESTERN
Union RAILWAY.
Tho only other work Of large proportions
which had boon undertaken in tho intorests OF
this Company was tho Fond du Lac Division Of
tho Northwestern Union Hallway. This line, of
60 710 miles. was nut .,ndor contract from n1il-
waukee to Fond tl Lac last summon. iB noa1ly
trnfflc.
Tho necessity Of this line to protect our brsi-
rn f1rft, ~ tn frnr 4i.u
competition OF now roadB OIL alortor lines to Mil
md provided for; with, this connection, Il now
tho .uHo Of this hno, aud Of our Chicago & Mil
waukco noad, ahortor routo by at lcast 20 miles
is mado for all tho Chicago business.
The original conception Of tho Northwestern
branch botwcon. milwaukee, mud Lodi, has only
been partly rcalizcd.
groat encouragement was hRd from aomo Of
tho most substantial citizens in nctiyo business
in milwaukee,, TINT material aid would DO gladly
rendered to put tho enterprise OH itB feot; but
subsequent experience proved tho error OF thia
Wow, and that portion Of tho road extending to
Fond du Lac has been built at great expense for
necessary depot grounds. md right Of way in
thoas eqapmon rp on ?PI eso % essa oaoroas OUT
1ays,, except in tho most imperative cases
for tho protection Of tho property, cannot DO af-
fordcd, and, however disappointed the Company
ny 1;,,y oo l n r., not bringing ts Madison Extension
and Winona 4 st. pator lsoada, with thoir valu~
aulo trade IND products, in direct cotnmunica-
tion with milwaukee, by tho Lodi line, it Inns
saved the expenditure of its construction Mt
time when the Importance Of other enterprises
demanded the best efforts Of tho Company.
GENERAL OPERATIONS.
Tue earnings and expenses OF the several
roads ownod by this Company. whose business
the Chicago Il Northwestern Hallway Company,
aro as follows, for tho year ending May 81,
1878:
Minona St. Peter. .s71e,oaaoa
LaCroHse, Trcmpeleau l. Pres
wsnons, sfaniaio Now Ulm @'s sssess
1owa Mdluna. na........*....... sa,78l.la
Their operating expenses and
rheir ae1eI 1ntsrsst %srs on Bonds
-.-- 1885,, .01
showing deficiency Of 3lS,a57o3 in tho operating Of
these rouas for the year.
no fair criterion Of tho results which may be- OK
poctod whom tho whole of that road shall be
flushed md connected with our min lines by
the completion Of tho Madison Extension. It's
Of Juno, since tho close Of the last fiscal yenr.
showing groBa earnings Of sl17.70o, againBt
sG3, 400 for tho aame month In 1872. lnrgo ill.,
croaao is anticipated for tho ontiro year.
Ine LRtrnsse, Ifenpclenn u IrcsCott III 6elt-
sustaining, and aifoftls margin Of profit for re-
payment OF the ndyanccs made to it by this
Company.
The Winonn, Mankato l. Now Ulm Is short
branch to ManAnto, wlloso business Gun neyor be
very romunoratiye in competition with other
linea at Atankato; hut tho traffic it contributes
rs focdor to the Winona j. st. Peter ia OF moro
account than ita own local onrnngs.
Tho Iowa Midland Inns not proved profitable ns
local line, and tho benefits it conFers aH q
feeder to tho Fulton AIRLINE at Clinton cHn only
bo estimated by tho Increase Of tranic which It
furnishes to a.,d from Chicago on the Galena
Division.
III caHo tho ontiro deficiency which has
eyer accruol III operating tlloso ronlB Rllall ho
takon from tho balance Of income account bo-
longing to the Chicago l. Northwestern Compa-
ny,-which stood ut Il G29, ,3G7.84 ut tho close Of
the last fiscal year,-tlloro will still remain
4 CLEAn BALANCE OF INCOME,
over and abovo the total deficiencies Of al1 tho
combined ronds OF S7GI.2Gi91 on tho 31st ot
Mny lust
It is bcltovod tint tho time IL not far Off when
tl1cao roads, taken toSothor, will prove Bolf-sua-
timing and valuable feeders to our trunk lines,
and become profitable in thoir not results, asaa
from tho vnluo OF tho lallds which, by tho con-
straction Ut tho Winona Il St. Potter Noad orc
secured to tlat Company.
CONTRACT
hna boon ontered into with the Grcon Bay Il
Lake pcpin Railway Company, whose road OK
tonds from Green hay wost about 2U0 miles, on
II. a..