Wilmington daily gazette., 1874-01-30
The Whining tom e. western RatlrOad-
Left.r No. =.
To LetriS Thompson, Es9

Letter No. =.
To LepiS Thompson, Esq
DEAR SIR My last was an effort TO give
you clear exposition of views on the disas-
trous consequences to all parties bondhoders,
fioating debt creditors, and stoc ockholders,which
would follow the forced sale of the Whining
ton and Western Railroad at this time. 1t
also suggested the policy of extension as the
best one, wherein protection to every interest
connected with the road would be found, /
promised you also statistical information that
would make this position clear.
III is true that the construction of our road
cost considerably more than was estimated, Of
which fact some palliaiing explanations might
be given, were We fairly committed to the de-
tensve position. But We shall only plead
now that such occurrences are common. For
instance, our sister road, the w. j r., expect
ed to cost about S33 900 per mile, yet costing
1t would appear, as extended to Reading
with equipment. nearly 100000 per mile
Again, the p. Il ID. Il. r., which paid, we are
informed, 30 cents per yard for earth in the
cuts and 20 cents per yard in the fills, counting
60 cents per cubic yard for earth-work, while
our earth-work cost us about ~ cents
The Chester Greek Railroad, along a stream
similar to Red Clay Creek, appears to have
cost S5o,O0O per mile without equipment,
while ours cost about S3S,000 per mile without
equipment.
The engineers and managers of the p. W 4
B. X. X. may certainly claim to be experienced
yet is it not true the Darby Improvement esti-
mated to cost $500 900, summed up when finish
ed, nearly double?
1t is anticipated that connections with the
7. x ID. Railroad will soon be made more per
feet, and our managers are hopeful of be-
ing able the ceming summer, by strict econ
omy, to net over and above running expenses,
sutncient for considerable payment or inter
est.
The estimates made by our engineer for
grading and bridging line from Landenberg
to Oxford, at the present prices of IRON ties, are
that about $4,000 per mile will lay track of the
same character as our present .one. 1t ap-
pears, therefore, that S130,C00 will complete
main. track 15H miles to Oxford and about H
of a mile of SidlnGS.
Contending, as you will remember did in
my last, the floating debt n0to counts as charge
upon the present road, insist that an increase
OF interest bearing debt of 5000 0e0 will togeth-
er with the stock subscribed, complete the line
to Oxford.
We will pass by and near to five grist and
saw mills, one woollen mill, and four of i've
large .unimproved water powers two of
| which are on the old Pleasant Garden forge
property two Of the larger paper mills, above
| alluded TO, now pay the b. c. railroad freight
bills amounting annually, we are told, to s3,-
600. We will also pass by, and in reach OF
| Chesterville, kimbleville, New London,
Lewisville, and Hickory Hill having our
terminus at oxford, an inland Borough of
| considerable population, and destined to
become point of remarkable railroad concen-
| tTaton.
Due reflection upon these facts and. deduc-
| tons as above stated must fairly lead ts the
following conclusion; That, by the natural
growth of business, on our present line, by the
betterel connections with theP. x b, K. Z. and
| by the numerous advantages TO be reaped from
the extension, BiH mere than double cur business
and dcolsi. crafty more than treLle receipts in the
nett three years with very moderate addition
to the running expenses and an addition Of
$500, ,000or say 50 per cent, 10 the interest bear
| ing debt.
| This shows capacity in the road, 10 earn its
interest," in about three years, and reasoning in
| the sans direction on the certain growth Of
business for long years 10 come, shows further
| that the time need not he long until the
original stock holders reap interest on their in-
| vestments.
| One more re-itefalion and have done The
| W. IL w, when extended to Oxford will be
about IS miles in length. The above specified
bonded debt Of $4,000 is less than $23 600
per mile on this length. Now mark and com
pare the following details:
The bonded debt already contracted By the
Wilmington G Reading Railroad is over forty
thousand dollars per mile; AID when the issue
Il
tween Birdsboro' and, Resdiug) is issued, will
be over Sac, 600.
/ The bonded debt OF the Vest Chester 6 Philas
delpha r. r. is S45, 900 per mile.
The Reading d Columbia Railroad debt is
$4,000 per mile.
The North Pennsylvania Railroad il S45, 00C
per mile.
The last road is becoming one of the mosl
prosperous in the country. Its stock considered
worthless but { veiy few years ago, is quoted
at A. (par SOD and its seven per cent. bonds
at premium. Yet ii was obliged, at one time
and after il was in operation, too. TO borrow
money on mortgage Of its rolling stock at ter
per cent!
Have we not then made clear case that al
this outcry is wrong; that the policy Of fore
closure is suicidal 10 every interest connected
with the enterprise? Under the full conviction
that such is the case. ask pardon for so lont
and tediously taxing your attention, and sub
scribe myself. Truly yours. j.
Il AGAssIz.-In closing all obituary notice O.
Il gissz, the London Times says: "In Agassi
the world has lost philosopher and natuals
whose name will be rememnered along with thos
r l of nn6a hai nd Of hau